Usually, a single project activity will involve numerous cost account categories. For example, an activity for the preparation of a foundation would involve labors, cement workers, concrete forms, concrete, reinforcement, transportation of materials and other resources. Different cost accounts would normally be used to record these various resources. Similarly, numerous activities might involve expenses associated with particular cost accounts. For example, a particular material such as standard piping might be used in numerous different schedule activities.
Integrating the schedule and cost data begins during the proposal phase as the proposal team is developing their proposal schedule, basis of estimate, and cost estimate. Ideally, the project team uses a proposal writing software and then leverages the proposal’s integrated schedule and cost data after contracts been awarded to establish the schedule and budget baselines. And, throughout the execution phase, they need to:
- Track their changes to the schedule and budget baseline;
- Use the current schedule activity status as the basis for claiming work package earned value; and
- Maintain activity forecast completion dates and estimate to complete.
Our Software Platform, Project Controls Team Members Software mines system data intelligently to offer users with environment through various cost and schedule modules to access integrate cost and a schedule information where charges are disaggregated for specific activities and specific cost accounts.