Filling the Information Management Void Print
 
When Information Management Becomes a Void!  
Challenge: We are planning to build several large projects but we are concerned that our software information systems will not allow us to communicate effectively with our project managers for budgeting, change tracking or financial reporting. How can we be assured that all of our financial and accounting information, as well as our project scheduling and reporting software communicate effectively?
 
Solution: In 2006 Boyken was approached by a large hospitality owner with this all-too-common issue. They were preparing to begin constructing several large projects and had no formalized system in place to establish a budget, track changes or report on projected final costs. Their finance and accounting departments used different software programs which did not interact with each other and they were currently using a home based version of Excel to track the current construction projects.
 
Boyken assembled an on-site team and, within a short period of time, implemented a software-based cost management system for all of their construction projects. This tool allowed the owner to instantly check the cost status of any project, interact on an invoice-to-invoice basis with the accounting department, and most importantly, provided a tool for the management team to report anticipated final costs to the lenders and the board.