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Operational Valuations Overview The Valuation module allows you to value work done to assist with Client Applications, Subcontractor Applications for Payment and to provide the contract analysis with a true reflection of performance, Internal value vs. Actual. This module reduces the use of spreadsheets by providing a means of producing and managing valuation documentation against the contract. A common set of valuation tools Quantities can be entered as a percentage of the total, entered directly or can be rere-measured using traditional dimension sheets or “from-spreadsheet” calculations. Items can be valued individually or as a range to allow for fast entry. Quick valuations can be produced to form the basis of a more detailed valuation by valuing pages, section, bills or the total. Time Tags can also be used to value work. Final Accounts can be automatically updated with variations included and approved within the estimate. Variations can be priced from first principles or using pre built-up rates. Whether these are included within the valuation depends on a set of user definable VO workflow approval controls. One set of calculations entered against any of the External, Internal or Subcontractor valuations can be copied to the other types as appropriate, thus avoiding duplication of entry. Internal Valuations Internal valuation rates can be changed to reflect actual resources used thereby producing anticipated buying gains. These can be reflected in a reforecast budget against the contract analysis. As all contract analysis codes are in place, budgets can be automatically calculated from the Internal valuation, which can then be viewed along side actual costs to provide the basis for cost/value reconciliation. reconciliation Subcontractor Valuations Subcontractor valuations can be used as the detailed build up for payment certificates and can be fed in to the Subcontractor Workflow. Workflow This provides the QS with the ability to create and approve a subcontractor valuation certificate for payment by Finance. The QS also has the ability to enquire on the progress of a payment by Finance. External Valuations Materials on site can be recorded. A detailed valuation can be made and reported to substantiate Applications for Payment that can be generated by the system. Crystal reports can be used to present the client with their preferred format for a claim. RedSky IT Viking House, Swallowdale Lane, Hemel Hempstead HP2 7EA Tel: 020 3002 8700 Fax: 020 3070 0925 Email: [email protected] www.redskyit.com
