Tailor-made Project Cost Management System
One of our customers is a well-developed and listed contractor company, which provides a wide range construction and civil engineering services to public and private sectors, including project management and supervision, human resources and equipment, procurement of construction materials, so to ensure that the works of sub-contractors comply with the specification.
To cope with the competitiveness and difficulties encountered in the construction business, the Company handles the tender and project management prudently and precisely. Due to a number of projects will often be proceeding simultaneously, while each project will be carried out in phrases and involves many sub-contractors, the Company always faces hurdles in the management of the project progress and cost control, resulting in failure to complete the project on time which affects the corporate reputation and profit.
In view of this, the Company has adopted Armitage’s Accounting Management System to streamline the entire accounting setting and flow and thus reduces the operating cost and time. Meanwhile, Armitage has tailor-developed a “Project Cost Management System”, which can group the individual project cost by material, equipment, sub-contractor and so on, then real-time update each cost amount at different status such as claimed, accepted or settled, and monitor the variation between budgeted and actual cost. This facilitates the management to monitor the progress and financial situation of each project, manage their assets and execute contingency plan on time, and in return improve the overall financial management and project efficiency.