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This is the age old (ok for the past 20 years) problem… how many features do we want in our project control software to the point that it gets too complex and too expensive for the masses to use. We all know the internet is a difficult and expensive platform in which to develop complex applications so the question then becomes:

Can the power of the collaborative nature of an internet based project control collaboration tool that is simpler in functionality outweigh the more complex project control tools that struggle to bring all project stakeholders together? I believe so… let me explain…

1. Have a diverse mix of experience on your team

Your team is the key to reducing costs in the energy sector, and diversity is invaluable. There is nothing worse than over reliance on a single “rockstar” Project Manager/Engineer—stress levels skyrocket for a busy executive whenever this key person is unavailable. Thinking long term is essential (good luck in this business!!) so try to have 2 or 3 younger professionals on staff at all times. Mentor these people by having them execute small projects using the disciplined steps mentioned herein.

One of the most important and useful principles in accounting is the principle of accruals. Before we get into the details of how the accrual is important in accounting for industry, let us first understand what an accrual is. In simple terms, it means recording the revenues and expenses in the proper period in which they occur so the revenues and expenses are matched up together. So this means a cost is recorded in the period in which it is committed and not the month in which it is paid for. In the same way, if the revenues are “earned” this month, it will be recorded this month even if the funds are received afterwards.

Welcome to CommittedCost.com. We were born out of a cost tracking problem that existed until we resolved it. The solutions we offer speak to the need to track costs on projects live and enable our clients to present those costs in various ways.

Some benefits of our solutions enable our clients to:

• Roll their costs up into budgets
• Slice and dice costs to improve accuracy
• Identify early warnings for project execution problems
• Track scope changes
• Warn their superiors well in advance of cost overruns; and Predict final costs

CommittedCost is the premier project control software for project managers, project sponsors and site inspectors who spend most of their time on the operational elements of projects which demand  a fit-for-purpose project control system.

The dated method of endless emails, spreadsheets and faxes is unmanageable for the busy professional. It leads to stress, strained relationships, lack of sleep and high turnover of key personnel. Furthermore it distracts the key people from focusing on proactive project execution.