Project Estimation Module

$16.74

PROJECT ESTIMATION MODULE

Project Estimation stands as a pivotal cornerstone in every thriving organization. Projects are fundamentally structured on key elements: Materials, Labor, and Overhead costs. Our cutting-edge module excels at providing swift and accurate estimations rooted in these essential components, offering a comprehensive view of ongoing projects within organizations.

Key Features:
– Material Estimation: Precise calculations for required materials, ensuring optimal resource utilization.
– Labor Estimation: Accurate evaluation of labor hours, guaranteeing efficient workforce management.
– Overhead Estimation: Thorough assessment of overhead costs, enhancing financial planning and control.
– Dynamic Reports:Real-time, customizable reports offering insights into project progress and resource allocation.

With our innovative tools, your organization can plan, execute, and monitor projects with unparalleled efficiency and precision. Stay ahead of the competition, make informed decisions, and maximize your project’s success.

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HOW TO USE THIS MODULE

  1. This module depends AG_material_requisition module, so you need to install it initially.
  1. You need to give material requisition access to the user from the settings.

 

Upon installation of this module, two new menus will appear in the Tasks section: Employee Time-sheet and Overhead Time-sheet. The Employee Time-sheet is designed for inputting actual labor details, while the Overhead Time-sheet includes product cost and quantity information. Additional fundamental information, such as task title, deadline, and description, can be provided as needed.

 

In the Employee Time-sheet, you will find a form view where you can enter essential details such as Date, Project, and Project-related tasks. The Time-sheet Details section includes a one2many field, allowing you to select multiple employees and specify the duration required to complete the specific task. After entering all the necessary information, you need to confirm the details, which will then change the status to confirmed.

 

 

 

Similarly, in the overhead time-sheet form, you can specify and input the actual quantities and costs of each product to be used in the tasks of the respective projects. Once you have entered the details, you can confirm them, transitioning the status to confirmed.

For material estimation, materials are requested through the requisition module. In this module, materials are requested for each project and task. If the required quantity is available, the products will be delivered and added to the stock. If the products are unavailable, a purchase tender will be generated, leading to the creation of a Request for Quotation (RFQ) and subsequent delivery of the items to the stock. The detailed functionality of this module is explained in the AG_material_requisition module.

In the task form, you will find the Material Estimation tab, where you are required to specify the materials needed for the project. This involves indicating the estimated quantities of materials required as well as their estimated prices.

 

 

In the next tab, you will find the “Actual Material” section along with an update button. Clicking on the update button retrieves material values from the material requisition module.

 

In this tab, you can specify the estimated labor for this particular project by indicating the amount of time that will be required by the workers to complete the project.

 

 

In the “Actual Labor” section, the details are automatically populated from the Employee Estimation form, and you can specify the planned hours. For instance, if the planned duration is 12 hours, and each employee is allocated 6:00 and 5:00 hours respectively, the total comes to 11:00 hours, leaving one hour remaining. All these calculations are automated.

 

Next, there is the overhead estimation section where you are required to specify the estimated overhead cost for this particular project.

 

The actual overhead cost is calculated based on the information provided in the Overhead Estimation form.

 

 

 

Once the actual and estimated materials, labor, and overheads have been accounted for, a comprehensive summary becomes available. This summary includes the total material estimate, total labor estimate, and total overhead estimate. The combined total is presented as the overall job estimation. Additionally, in the top right corner, there are smart buttons available for comparing the actual materials, labor, and overheads with the estimated materials, labor, and overheads.

 

 

In this section, the estimated quantity and value are 1 and 900, while the actual quantity and value are 9 and 8100 respectively. Therefore, the deviation in both quantity and value is calculated as the difference between the actual and estimated values, resulting in 8 units and 7200 in value.

 

 

The same comparison method applies to labor and overheads as well.

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