Key Benefits
- Adapt as your business grows
- Bring internal departments closer together
- Work smarter and faster
- Streamline financial management
- Cut costs through accurate estimation
- Ensure leaner and more precise inventory requisition
Project Engineering Design Estimation
Compatible Unit
- Estimation through compatible units (CU) allows users to create estimates for multiple work locations. Each CU can be made up of several assemblies, and each individual CU can be related to Usage, which defines its work utilization (installation, retirement, abandonment, etc.).
Assembly
- Estimation through assemblies allows users to create estimates for multiple work locations. Each assembly can be related to Usage which defines its work utilization (installation, retirement, abandonment, etc.). Each assembly is associated to an asset or asset class which, in turn, provides the FERC classification.
Cost Category
- Estimation through cost category allows grouping of like transactions within cost categories and manual entry of individual estimated costs.
Reconciliation
Retirement Reconciliation
- Allows the users to allocate the costs of retirement against the assets that are being retired. The logic is based on the ratio of estimated value against actual costs.
Assembly Reconciliations
-Acts as a true up of all assemblies that have been estimated. The system automatically creates as-built assemblies based on the issued inventory. Users can adjust the presumed as-builts by the system.
Equipment Reconciliation
- As certain inventory items act as entities that will ultimately create assets, users can enter unique identifiers (equipment records) for each of those inventory items issued on the project/work order.
Asset Capitalization
Assembly Capitalization
- The system automatically calculates project costs that will be allocated across the existing assets or newly created assets based on the estimation, reconciliation and specific configuration options. The complex formulas rely on estimation ratios applied to actual values.
Cost Category Capitalization
- This manual option provides complete control over the process. Users can enter the percentage of actual costs to be allocated against the entered asset values.
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