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  "PageContent": "CETAS Information Technology Pvt. LtdHow NAVBUILD address the Construction Risks?The Construction projects are unique and are perceived to be inherently risky due to the complexity, Long Project Period, Cost Changes, complicated contracts and involving complex relationships in several tiers of contractors, Suppliers and Architects. These risks spread throughout the construction project life cycle and have the potential to lead to undesirable consequences in project delivery on time, budget and Profitability. Significant inefficiencies and problems still exist in both paper transactions and non-integrated solutions in the construction Industry. NAVBUILD, Microsoft certified construction ERP, designed to address and manage the key risks of the constructions, namely  1.  Financial Risk – project exceeds its budget and costs and endangers the financial health of the companyBudget overruns are not always a matter of poor construction supervision, they are often the result of bad planning, bid accuracy, missing the cost elements in the pricing or poor decisions due to lack of past bid information availability. NAVBUILD helps the contractors from submitting the initial bid to tracking change order details to determining percentage completion, and allows the collaboration of different roles including estimator, cost accountants, Architects/engineers, CFO and CEO to analyse the bid information, historical estimates, cost codes, budget revisions, and ensure the project Budget and Financial Plan is prepared in so detail, considering the basis of bid requirements, and executed  cost, margin predictability and success.  2. Change/Variation Orders Risk–  lead to delay project completion, decrease productivity, increase project costs, Complex approvals process hamper procurementChange/variation orders are inevitable in most of the construction and infrastructure projects, and contractors are always worry about the implications and potential risks associated with change orders claims. NAVBUILD helps the contractors to mitigate the risk by monetization of additional revenue for the change orders by right information with budget revised estimates and project schedule for quick approval process and claims. NAVBUILD sends all planning information to execution team on the change orders on time without any data loss, and hence collaboration.  3. Schedule Overrun Risk- Delay can lead to many undesirable effects including devastating financial consequences and contract terminationThe great deal of inefficiency and cost mismatches exist when project schedule is not integrated with budgets and project execution team. NAVBUID address this by integrating Project schedule system like MS Project/Primavera and ERP bi-directionally synchronizing planning and budgeting details, Project progress, performance information and resource requirements into their business processes means that construction companies able to generate complete picture of their project portfolio and can be sure that defined processes are followed across all projects and across the enterprise.  This flow of data which will help to increase efficiency, effective scheduling, accurate and timely communication with site workers and sub-contractors, and cost effective project management is an important best practice for reducing risk. 4. Administrative risks – lead to missed approvals on costs/Orders, missed Invoice & Payments on time)Construction projects always involve the collaboration of a multi-disciplinary project team across the locations, and therefore need for collaboration and timely business notification is vital to avoid any short administrative risk. NAVBUILD address through with its add-on components like DynaText- Business Notifications, Mobile Site and Vendor Portal for the collaborations. All three kinds of risks can be addressed in both the preconstruction phase and execution phase. Preconstruction risk is internal to the team and can be controlled. Industry ready ERP System with best Practices are needed to handle and to manage risks so that the success of projects can be ensured.  The initial estimates of cost, time, and trouble are bound to change dramatically as work progresses, But the directors and top management of the company can identify, analyse, and rationally control these risks by proactively monitoring every cost, revenue and communication from planning to closing and make informed decisions.FOR More Details Visit  http://cetastech.com/home/products-navbuild/",
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