Monthly Financial Package
To help teams proactively identify potential risks and opportunities, the monthly financial package was created. Each active project completes the monthly financial package prior to the 10th to allow time to meet with their Project Director prior to the 15th of the month.
Each month the project team will create a new folder in the Documents Tool under "Financials", and upload the necessary documents.
- Monthly Financial Package File
- Profit Plan
- Buyout Schedule
- Revenue Projection
- GC Forecast
- Job Cost Report
- Latest Owner Pay Application
- Last Owner Change Order
- Current Construction Schedule
- Current CCD / PCO Log
In our efforts to optimize the monthly financial package, we are excited to introduce two new tools that will be integrated into our monthly financial package: the Profit Plan and Buyout Schedule. We have combined these tools with the revenue projection and GC forecast to help streamline the process of completing this Monthly Financial Package.
Profit Plan Tool: The Profit Plan tool has been designed to facilitate more comprehensive discussions between Project Directors and Project Managers regarding the risks (Worst Case) and opportunities (Best Case) associated with each project. By including these insights into our monthly financial package, we aim to empower our project teams to communicate proactively about potential gains and losses. This communication will not only enable the project team to control the narrative of their projects but also provide valuable insights into potential fee adjustments throughout the project lifecycle.
Buyout Schedule Tool: The Buyout Schedule tool is a flexible resource that will be modified to meet the buyout needs for each project. Ultimately, the goal of this tool will be to assist the Project Directors and Project Managers to assess Buyout Progress throughout the project's lifecycle, ensuring greater transparency and control. Since several of our projects will have completed buyout when doing this update, this section will not be mandatory on this month’s financial package. However, if your project team is less than 60% complete on buyout, then please push this tool.
