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Capital Project Cost Reporting. Project Goals. Documentation of project approval Approval path based on reporting structure and individual approval limits POs against an overspent project to be stopped Detailed comparisons of approved AFE budget and cost breakdown

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Capital Project Cost Reporting


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    Presentation Transcript
    1. Capital Project Cost Reporting

    2. Project Goals • Documentation of project approval • Approval path based on reporting structure and individual approval limits • POs against an overspent project to be stopped • Detailed comparisons of approved AFE budget and cost breakdown • Reporting on project spending

    3. Project Goals (cont) • Reporting of internal maintenance labor by project • Process to capture and approve project scope changes • Allows for easy tracking of scope changes • Allows for incremental approvals of project costs • Document the date project is closed • Single system solution

    4. PR and WO Mods • An ‘AFE #’ field was added to both the PRs and the WOs in Maximo. • The AFE # has been programmed to carry forward to the PO and the invoice as they are created • PRs with an AFE # are only approved by the project owner • Encourage users to tie PR/PO cost to AFE • Eliminate redundant approvals • When a project work request is rolled to a WO the AFE # is added by the scheduler • Finance reviews all new WOs to assure AFE # are being added correctly

    5. Project Reporting • Monthly Management Review • Sub set of all ongoing projects • Project owners are required to go over the Maximo generated spending reports • Report tracks both actual spending and committed cost • Before a project can be closed all POs and WOs must be closed. • Requires owner to assure POs have been invoiced and labor has been charged to the WOs • Maximo will not allow a PO to be approved if the AFE is over spent • Controlled by workflow at time of PO approval • Tax department is using the Maximo generated spending reports for multiple tax fillings

    6. Change in Project Scope • Project scope and price increases must be communicated to and approved by management. • The AFE revision is added to the approved spending and the new total amount is used to determine the approval path. i.e. If the revised project total breaks the $1 million level it will go to the next management level for approval. • Multiple revisions can be done • Allows the AFE to be generated when long lead time items are ordered • AFE is then revised to meet project milestones

    7. AFE General Info Screen

    8. AFE Automation Scripts

    9. MOC Escalations

    10. AFE Reports • AFE Related Records Report • AFE Summary • AFE Project Cost Breakdown