The challenge: Reconstructing the financial picture
Before Jet.Build, CCM had to gather and reconcile budgets, commitments, pending changes, and forecast information from multiple sources before leadership could see where each project stood financially.
The information existed, but the consolidated financial picture only emerged after the team assembled it for reporting.
What CCM needed
CCM needed a clearer operating process connecting the financial decisions made throughout the life of a project.
- Maintain the approved budget and current cost structure
- Track contracts and commitments against that budget
- Account for pending and approved changes
- Understand how those changes affected projected final cost
- Produce consistent project and executive reporting across a varied portfolio
- Give the appropriate stakeholders visibility without rebuilding the report each time
Building the cost-management workflow in Jet.Build
1. Budgets and commitments
CCM established project budgets in Jet.Build and connected them to the contracts, commitments, and cost activity being managed throughout the work. This created a consistent structure for comparing approved budgets with committed and projected costs.
2. Changes and forecasting
Potential changes were incorporated into the financial workflow before becoming final costs. The team could account for pending exposure and understand its effect on the project forecast.
3. Project and executive reporting
Because budgets, commitments, changes, and forecasts were maintained through the same workflow, reporting no longer began with collecting information from separate sources. Project teams and leadership could review a consistent financial picture across the portfolio.
From periodic reporting to ongoing cost control
The meaningful operating change was the shift from manually reconstructing project financials for each reporting cycle to maintaining the financial picture as part of the project's regular workflow.
With Jet.Build, CCM could maintain the relationship between original and revised budgets, contracts and commitments, pending and approved changes, projected costs, and executive and stakeholder reporting.
The result: A financial picture maintained through the work
For CCM, the result was more than a different report format. The organization established a more consistent approach to managing and communicating project costs across a diverse portfolio.
Project teams had a defined place to maintain the financial information affecting their work. Leadership gained clearer visibility into project performance. Reporting became an output of the cost-management process rather than a separate exercise in gathering and reconciling information.
Before Jet.Build, we were pulling cost information from multiple places just to understand where a project stood. Now the budget, commitments, changes, and forecast are connected, giving our team and leadership a clearer view of project performance.
— Suzanne Andolino, Director of Project Management, Canvas CM
Why connected cost management matters
Construction financial reporting is only as reliable as the project information underneath it.
When budgets, commitments, changes, and forecasts are maintained separately, every report becomes a reconciliation exercise. Connecting those workflows gives project teams and leadership a clearer view of current performance and developing cost exposure.
Jet.Build helps owners, developers, and owner's representatives manage that process from pre-development through closeout.