5D Financial Management Construction
5D Financial Management Construction
For both the owner and the contractor, it can be a challenge to ensure transparency and precision in financial management. It is solved efficiently with 5D financial management, where the economy is based directly on quantities in the 3D models. In Exigo, we are the leading experts in 5D financial management and we help to give you a full overview of the economy from the early budgeting, in the design, the tender phase and throughout the execution. We can either train you in the methods or do the work for you. So you just have to follow the financial progress on the dashboard in our solution Exicute.
Read more below about how we can help ensure you a healthy and transparent economy.
A project economy you can manage
Once building models and calculations are integrated, we can quickly and efficiently provide an overview of what ongoing changes mean for the price of your construction project. You can get this overview in visual form via a Business Intelligence dashboard.
On a number of major construction projects, we have integrated quantities and finances with the location-based scheduling method. On a dashboard, we give the client and construction management a detailed and accurate overview of the progress of the construction – both in terms of time and finances. You can read more about Big Data and Business Intelligence in construction here or you can visit our page www.exicute.net, which is the tool we have developed for stage registration, communication of schedules and management reporting using dashboards.
Earned Value and On Account Finance
Once we have integrated the 3D building model, the calculation and the schedule, we can quickly and efficiently provide detailed analyzes of what is to be the turnover for on the construction site per day or month. The method we use is called Earned Value Management and you can read more about it here: https://www.pmi.org/learning/library/earned-value-management-systems-analysis-8026
5D Financial Management Construction – Successive Calculation
With a very limited work effort, the on-account economy is calculated on your construction case, and you can immediately see what possible changes have consequences for the economic development of your construction project. With our solutions, you get a graphical and clear view of which building components are included in the various items in the price calculation and schedule. It gives you a strong overview.
The first calculations are based on overall 3D models and unit prices with a little detail. As the project material becomes more and more detailed, the calculations are updated, and they can eventually contain a breakdown of the project in resources, including manpower, equipment and materials per building component type linked to the individual activities in the location-based schedule.
At Exigo, we have many satisfied customers who benefit greatly from our client and contractor advice.
Read what they say about us.
Risk analyzes of quantities
An important prerequisite for a transparent and precise 5D financial management is the quantities that are the basis for the calculations.
There are many financial risks associated with traditional, manual methods of counting quantities. Besides being a time-consuming process, it often fails. Incorrectly calculated quantities have major consequences for a project’s finances, not to mention the schedule, and if they are not identified in advance, it will be expensive during execution.
At Exigo, we help you ensure that you have the right amounts – and thus an economy that lasts. The quantities sent out for tender are used as a basis for financial management, and it is, therefore, crucial for the project economy that the quantities are correct. An overview of the correct quantities coupled with the calculation ensures that you, as the client and contractor, get a good starting point for a possible negotiation of the prices in the individual subject areas.
You can also, with a few simple steps, ensure that the tender material is as good as possible.
The New Hospital in the West, Gødstrup
The task: Client advice in the form of independent review of financial calculations and schedule. Optimization and visualization of schedule based on location-based scheduling.
“We experience a good commitment, professional approach to the task, as well as flexibility in relation to adjustments along the way.”
Do you want a total financial overview? Contact us
With professional help from Exigo, you get an overview of the project finances. In addition, you will be able to anticipate – and manage – financial risks. Contact us and we will find out how we can best help you.
Kristina Ekkersgaard / email@example.com / 53 55 59 05