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A construction contract is a mutual or legally binding agreement between two parties based on policies and conditions recorded in document form. The two parties involved are one or more property owners and one or more contractors. The owner, often referred to as the 'employer' or the 'client' has full authority to decide what type of contract should be used for a specific development to be constructed and to set out the legally-binding terms and conditions in a contractual agreement. A construction contract is an important document as it outlines the scope of work, risks, duties and legal rights of both the contractor and the owner.
There are multiple systems in use for Planning, Estimating, Proposal Building, Accounting, Execution etc., INFOQUID ERP is one system solution eliminates all such Bottlenecks and bring all functionalities under one roof. Full level planning is included in the software and can be collaborated across the organization between various planning divisions. There is basic estimate and detailed BOQ linked to Budgeting. Planning with all parameters such as Work Breakdown Structure (WBS), Lead Days, Lag Days, Dependency types such as FF (Finish to Finish), SF(Start to Finish), FS(Finish to Start), SS(Start to Start) etc., The planning is linked with execution and accounting. A detailed project monitoring is highest paramount of the system
A project is a series of tasks with a specific objective (or deliverable) to be completed within a set timeline, and upon completion, a product or service is created. Projects are unique because they end, unlike other business functions that repeat or continue regularly
This is the starting phase where the project manager must prove that the project has value and is feasible. This includes creating a business case that justifies the need for the project, and a feasibility study to prove it can be executed within a reasonable time and cost.
After the project has been approved, the project moves into the second project management phase project planning. The goal of this phase is the creation of the project plan, which will be the guide for the next two phases. The project plan must include every component associated with the execution of the project, including the costs, risks, resources and timeline.
The third project management phase is project execution, which is when the tasks and milestones outlined in the plan are tackled to produce the deliverable to the client’s or stakeholder’s satisfaction.
The fourth project management phase, project monitoring and control, takes place concurrently with the execution phase of the project. It involves monitoring the progress and performance of the project to ensure it stays on schedule and within budget. Quality control procedures are applied to guarantee quality assurance
The fifth project management phase is project closure, in which the final deliverables are presented to the client or stakeholder. Once approved, resources are released, documentation is completed and everything is signed off on. At this point the project manager and team can conduct a detailer review to evaluate the lessons learned from the project
• Project Management Stages, Sub-Stages, cost units
• Project Planning
• Inventory wise and amount wise Budgeting’s & Variance
• Multi-Dimensional Job Costing
• Allocation of Jobs
• Graphical Presentation of Job Revenue & Expense
• Multi-level electronic document authorization
• Intelligent Dash board system for alerts and triggers
• Extended job wise time sheet entry
• Automated job wise payroll processing
• Interactive System Reports
Software Features a highly efficient estimation functions which gives option to create job estimation both category & sub-category wise. Provides well defined options for creating both Initial & Detailed Estimation(BOQ).The Estimated Budget will be tightly controlled within the system with flexibility to change materials specification withing the approved budget. There option to integrate all the currently running projects skipping the estimation stages & just entering the budget for each category
The Software features a highly structured & Advanced planning functionalities which has three main levels categorized as Milestone, WBS(Work Breakdown Structure) and Activity. The system incorporates major link types offered in most planning tools like SS(Start-to-Start),SF(Start-To-Finish),FS(Finish-to-Start), FF(Finish-To-Finish).
INFOQUID provide real-time execution functionalities to view the activity status & have options for Material, Manpower,Sub-Contract & Equipment request during execution.Each request can be controlled with well-defined approval workflows.
The system provides advanced reporting tools with Projects Graphs & Monitoring tools. For example, via charts and summary tables, dashboards can highlight key performance indicators such as activity cycle time and revenue per category or summarize compliance and execution milestones.
Reports and dashboards should offer click-through access to view supporting records. Besides its value to operational performance and compliance, reporting often reveals would-be problems in time to take remedial action and can significantly reduce the resources spent on audits.