Topic Thread

Cost Projections and Budget Warnings

  • 1.  Cost Projections and Budget Warnings

    Posted 12 days ago

    In Viewpoint are people using the PM Cost Projects or are they using the JC Cost Projections.
    1.  Cost Projections
    When we use JC Cost projections we don't have an issue, but when we try to use the PM Projections it seems the team is having problems with the PM cost projections automatically updating values.  It was suggested by the consultants to do the following:
                              Write over Plugged Values to NEVER
                               and Initialized Worksheet Detail Option to Initiate detail projections without values.
                               The team is indicating that the projected final cost is changing without them making changes.

    2.  Budget Warnings
           It sounds like we can set a warning if a phase code doesnt exist, but I am told there is no place to set a warning when costs are hitting the job if they would exceed the budget.  This is surprising for me, i would have thought you could set a parameter that if it exceeds by a certain $ or % it would give a warning or maybe even not allow you to key it in.


    I thought i would reach out to the group to see if there is any insight before i further review what the team  and consultants are reporting.

    Thanks





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    Mary Davolt CPA, CCIFP
    Vice President & CFO
    Pernix Group, Inc
    Lombard IL
    (331) 214-0869
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  • 2.  RE: Cost Projections and Budget Warnings

    Posted 11 days ago
    ​We use JC Cost Projections but I have been told that PM Cost Projections has been improved and probably a better way to do projections.

    As far as the Budget Warning there is a Notifier (JC Cost vs Est) that will send a notifier showing each job/phase/cost type where actual costs exceeds estimates. This would most likely generate a lot of notifiers and multiple notifiers along with some tweaking may have to be done to get them to the right people/jobs. If you are just sending to a few people static people it should work fine

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    Paul West
    Director of Enterprise Applications
    The Middlesex Companies
    Orlando FL
    (407) 206-0077
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  • 3.  RE: Cost Projections and Budget Warnings

    Posted 11 days ago
    We have worked with customers to setup notifiers in Viewpoint to send emails out daily on jobs that reach a certain point and use UD tables in Viewpoint to allow for customers to set these levels for the notifier jobs for themselves.  We can help you with this challenge to allow for a more streamlined process.  Please let me know how we can help.

    Kind regards,

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    Tuong Do
    Director of Development
    Prospection Business Intelligence
    (805) 229-1267
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  • 4.  RE: Cost Projections and Budget Warnings

    Posted 11 days ago
    ​I think PM Cost Projections are much easier to navigate for PM's. Plus, you can configure the grid so PM's are reviewing just the information deemed pertinent.

    The notifiers are the best way to handle the 'close to exceeding' budget concerns. The JC Cost v Est notifier is a good starting point for this, you can copy it and modify it so the query returns cost within a certain percentage of the budget rather than exceeding. If you create this as a consolidated notification, you can minimize the number of emails that get fired. I would suggest a weekly notification. In my experience, nightly emails com with a risk of people starting to ignore the notification.

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    Sarah Stegman
    Director - Construction Software Consulting
    CohnReznick LLP

    (469) 371-7209
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  • 5.  RE: Cost Projections and Budget Warnings

    Posted 3 days ago
    We use JC Cost Projections followed by an internal change order that we process as a Budget Adjustment.  This occurs monthly so that Period 2's beginning revised estimate matches period 1's ending JC Cost Projection.  We have been in Vista for less than a year and I would like to streamline this process as it is taking too much time to get through projects each month.  Any ideas would be greatly appreciated.

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    Joshua Brotemarkle
    CFO | General Counsel
    LS Black Constructors, Inc.
    St. Paul MN
    (651) 789-2902
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