More Efficient Financial Control for Collaborative Construction projects
✓ Up-to-date Cost Information makes it easier to predict the final cost of construction project
✓ Procurement ties the budget, procurement packages, tender requests and contracts together
✓ Payment instalments are approved only after the delivery is ready and inspected
✓ Change needs are agreed together before order and delivery
✓ Suppliers' obligations and liabilities data, and the quality of deliveries are monitored
Main ZONE SIGHT functions
Cost Management
Procurement
Payment Management
Changes Management
COST MANAGEMENT process & benefits
Budget
Create project and activity code structure
Import target costs
Activity code structure is updated
Maintain target costs
Committed Costs
Assign targets to activities
Packages are created
Do tendering
Define agreements
Committed costs are calculated
Activity code structure is updated
Actual Costs
Ledger data is received
Import special costs
Actual costs are calculated
Activity code structure is updated
Forecast
Review targets and actuals
Update cost estimates of activities
Approve project cost estimate
Cost history is updated
Report estimate to Project Owner
✓ Project costs are transparently visible to all parties according to their roles
✓ Commited costs reflect the progress of procurement
✓ Actual costs are updated regularly
✓ The final cost forecast is reviewed and reported to the Project Owner
✓ Cost history helps to understand financial changes during construction phase
Procurement process & benefits
Prepare Packages
Assign targets to activities
Packages are formed
Split packages when necessary
Do Tendering
Select suppliers for tendering
Prepare request for quotations
Compare quotations
Make decisions
Purchase from Suppliers
Create agreements
Define installments
Define unit prices and quantities
Committed costs are updated to activities
✓ Ties target costs, activity codes and procurement packages together
✓ Consistent way to manage the RFQ process
✓ Transforms purchases to committed costs
✓ Maintains supplier compliance status
✓ Enables evaluation of suppliers and their deliveries
payment management process & benefits
Request for Approval
Deliver work package
Send installment for approval
Review Delivery
Inspect delivery at jobsite
Review invoicability
Review agreement
Authorize to Invoice
Approve installment
Attach approval note to invoice
Send invoice
Review Invoice
Check invoice content
Allocate invoice to installment
Mark installment as invoiced
✓ All approvals are documented
✓ Parties share the same information
✓ Project closeout becomes more straighforward process
✓ Fewer credit notes
✓ Less unnecessary email traffic
change management process & benefits
Propose Change
Define need for change
Add quotation with specifications
Request for change order
Review
Review change proposal
Check for appropriateness
Order and create installment
Deliver
Deliver work package
Request for installment approval
✓ All change requests are reported in timely manner
✓ Impact to costs and schedule is clearly undestood
✓ Changes are reviewed and ordered before work begins
✓ Project closeout becomes more straighforward process
✓ Less email traffic
