Annual or operational budgets are often prepared using a top down or bottom-up approach.
Piramids allows you to upload your budget by Project, Property, Unit, Work Order, Customer, Contract, and Vendor, giving you the flexibility to review, approve and change budgets and monitor the performance on the fly.
In Real Estate Development, Procurement and the Supply chain is complex, as it is seasonal and fluctuates with weather and environmental conditions.
The below essential elements will help you deliver outstanding quality, while procuring the resources within the proper timeframe and cost.
Create and maintain buyer and supplier relationships and establish communication channels.
- Strategic partnerships
- Customer relationship management
- Project specific relationship management
Resource availability and pricing is unpredictable, and planning at Project level is of paramount importance in the procurement process.
It will allow you to better estimate the timing of delivery, cost estimates, and quality specifications.
With Piramids, you will be empowered to confidently manage and track the supplier schedule, delivery and performance everything within a single screen.
Learning & Coordination
The construction industry requires specialized knowledge, capabilities, and a permanent supplier pool. Expanded knowledge across the entire scope of project is key to coordinating with the various parties during the construction phase.
Piramids’ well-defined project structure – with Work Breakdown Structure (WBS) and Activities presents a clear picture on the Start and end dates between all activities, and parties responsibilities; the Suppliers gain full control of delivery management and can better deliver the tasks, produce proof of completion and payment request. This drastically reduces manual efforts and yield superior results.
Piramids provides budget vs actual information in real time, giving you full control over managing cost overruns.
The strategic planning of Projects, associating the Customer Contracts, and breaking the Work components into Work Orders is essential to a development project.
Piramids Work Order (WO) is based on Work Break Down structure and gives you the flexibility to define the tasks required to complete each one. Each Work order can be associated to a Project, Property, Unit, Customer, and Contract.
Piramids allows procurement at work order level and allows multiple Vendors to access the work order for estimate request. Evaluate the estimates and documents the approval process, and upon approval, it will lock the work order and give access to only the approved Vendor for delivery.
Piramids’ Work Order is designed to track the estimates, as well as the actuals, plan start and end dates and actual start and end dates to present it in a Gantt Chart model. Further, it serves a control feature to deliver the Project within budget and on time and easily tracks variances at work order or task level.
The finance process is built within the Work Order and accepts the Supplier delivery, which creates Vendor Bills and allows payments to be made online or with an auto generated check printing. It also creates and receives customer payments online within the Work Order.
The single screen functionality of all aspects of Work Orders activities, income, expenses, cost estimates, and timeline gives you total control of the activity management.
Managing Project is Managing Risk!
The internal and external forces of risk management is vital for a project’s success. While there is limited control of external factors, there are many factors business can manage:
- Cost over runs
- Delay in deliverables
- Supply chain breakdown
- Customer defaults
- Credit failures
A well-planned project addresses the internal, inherent, and external risks, allowing better preparation when the unexpected occurs.
While many of the control features are strategic in nature, Piramids provides a strong mechanism to apply the risk matrix; it tracks results for variances and exceptions in terms of planned vs actual and presents in an easily comprehensible manner.
The real estate projects are highly complex, and often drafted by legal professionals and are difficult to understand. Additionally, it is nearly impossible to remember every aspect of contractual relationships. Contracts go through multiple revisions and changes are made to the order. How do you manage numerous contracts with endless change orders?
Piramids’ Contract Management and Work Order Management features allows you to manage delivery and track performance by segregating the Contract components into various work items. This includes: