All companies are required to have an integrated information system which includes estimating, job costing, accounting, payroll, and scheduling. A management information system is integrated by means of a cost code of accounts.
The features of a progress reporting system are:
Work breakdown structure
Physical percentage complete
Planned and actual duration
Earned Value and project cost updates
Status report and forecast report
Estimate at completion and Estimate to completion
Manpower availability, utilization and productivity report
Material procurement and distribution
Plant and machinery availability, productivity and usage
Financial summary, Progress payment, and project cashflow
Project technical documents report
Request for further information matrix
Procurement status report
Report Summary
Project accounting system include:
Accounts payable & receivables
Balance sheet
Profit and Loss Statement
Financial Ratios
Purchase & expenditure register
Contract costs
General ledger
Purchase order
Project cost detail and summary
Project Cash flow Statement
Project reporting system must fully integrate the following: a Cost System, Material Tracking System, and the Scheduling System.
A project Cost System must interface with the organizational's Accounting Systems, which shall include, cost of material, labor, equipment and machineries (and project overhead cost). The objective of a Cost System is to track and forecast costs for comparison against budget. Apart from the Accounting System integration, it is necessary to also have a Material Management System which will track the materials from the requisition stage through to surplus disposal stage. The Scheduling System requires several levels of reporting to meet the need of the management hierarchy and therefore should be capable of the “roll-up” techniques. A scheduling system must be capable of scheduling all the activities, identify critical activities, estimate the resources required and include resource leveling, progress updating and tracking, and be produced graphically.
Reporting and feedback must be accurate and timely if it is to be effective for control purpose. Feedback must occur to the project team as well as management level. Management level reporting, that is for owners, contractors and project management teams, must provide statements of accomplishments versus planned cost and schedule objectives, forecast final costs and completion period. It should also review current and potential problems and indicates action taken to overcome the effects of the problems.
Weekly or monthly meetings are held to assess the progress of work. The review meetings are aimed at translating latest work status and critical problems into specific action plan. Weekly or bi-weekly (perhaps monthly) reports with information on the actual and ‘forecast at/to completion’, and the quantities of workdone serve as the agenda for the review meetings. By analyzing the actual manpower, material distribution, and equipment usage, the allocation and availability of resources can be adjusted.
The features of a progress reporting system are:
Work breakdown structure
Physical percentage complete
Planned and actual duration
Earned Value and project cost updates
Status report and forecast report
Estimate at completion and Estimate to completion
Manpower availability, utilization and productivity report
Material procurement and distribution
Plant and machinery availability, productivity and usage
Financial summary, Progress payment, and project cashflow
Project technical documents report
Request for further information matrix
Procurement status report
Report Summary
Project accounting system include:
Accounts payable & receivables
Balance sheet
Profit and Loss Statement
Financial Ratios
Purchase & expenditure register
Contract costs
General ledger
Purchase order
Project cost detail and summary
Project Cash flow Statement
Project reporting system must fully integrate the following: a Cost System, Material Tracking System, and the Scheduling System.
A project Cost System must interface with the organizational's Accounting Systems, which shall include, cost of material, labor, equipment and machineries (and project overhead cost). The objective of a Cost System is to track and forecast costs for comparison against budget. Apart from the Accounting System integration, it is necessary to also have a Material Management System which will track the materials from the requisition stage through to surplus disposal stage. The Scheduling System requires several levels of reporting to meet the need of the management hierarchy and therefore should be capable of the “roll-up” techniques. A scheduling system must be capable of scheduling all the activities, identify critical activities, estimate the resources required and include resource leveling, progress updating and tracking, and be produced graphically.
Reporting and feedback must be accurate and timely if it is to be effective for control purpose. Feedback must occur to the project team as well as management level. Management level reporting, that is for owners, contractors and project management teams, must provide statements of accomplishments versus planned cost and schedule objectives, forecast final costs and completion period. It should also review current and potential problems and indicates action taken to overcome the effects of the problems.
Weekly or monthly meetings are held to assess the progress of work. The review meetings are aimed at translating latest work status and critical problems into specific action plan. Weekly or bi-weekly (perhaps monthly) reports with information on the actual and ‘forecast at/to completion’, and the quantities of workdone serve as the agenda for the review meetings. By analyzing the actual manpower, material distribution, and equipment usage, the allocation and availability of resources can be adjusted.
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