ISIX integrated cost management solution provides a purposeful and intelligent management system for project managers, contractors, clients, and finance providers. In addition, live and integrated connections between quantity take-offs, construction data, activities, price lists and statement’s workflow are main ISIX powerful keys. ISIX allows extracting classified information from project’s information such as time-based cost, activity-based cost and so forth. ISIX categorizes this information based on contract, story, discipline, sub-discipline or any other custom field in a dynamic manner.
ISIX connects elements of 3D-BIM model, activities and line items of price lists. So, this intelligent connection facilitates calculation of activities cost from the lowest to highest level of the project WBS. Furthermore, by connecting to project schedule (5D-BIM), one can easily access to categorized time-based cost of activities. Thus, managers, clients, and investors can use benefits of ABC method for cost planning.
Projects’ cost breakdown structure (CBS) is one of the initial and essential needs for appropriate financial management of projects. However, preparation of CBS is highly time-consuming and complicated in traditional approaches. Fortunately, ISIX technological structure has solved this problem. It uses 5D-BIM concepts for automatic generation of project’s CBS. Therefore, concurrent with the completion of the cost estimation of the project, using predefined categories, ISIX generates project CBS. Moreover, this system can automatically update the CBS based on project design changes. Furthermore, ISIX provides the tool for monitoring the impact of stakeholder’s decisions on the costs and cash flow of projects.
ISIX advance tools for calculating MTO and estimating cost, prepares precise project’s information quickly in a categorized manner. It uses detailed information needed for cost estimation of elements’ activities. Therefore, users can easily define the price, and the amount of resources and materials needed to perform an activity. Furthermore, it provides the platform for defining customized price tables. As a result, owners, investors, and contractors can easily recalculate project costs based on construction methods and team’s efficiency.
Clients, contractors, planners, can maintain project cost information as a knowledge and use them for estimations of future projects. Therefore, ISIX provides customized price lists for estimating and comparing the price of projects’ activities. Furthermore, ISIX prepares a platform to compare scenarios for participation of companies in bids. This feature of ISIX makes it possible to study the conditions of costs of projects.
The integrated structure of ISIX provides seamless real-time connection between the activities’ progress and estimated costs. In this manner, it is possible to prepare cost statement of activities carried out in the project. In addition, ISIX can present the statements in a categorized manner, such as project, contract, story, discipline, and so forth. Furthermore, ISIX supports the workflow system for confirmation of the statements.
ISIX provides online and classified access to the project’s costs data, via predefined, and/or configurable reports and dashboards. In addition, one can use it for real-time tracking of project cost status. ISIX tools for selecting components/elements in a 3D display panel, besides, its filtering and classifying features, facilitates projects’ financial management. Furthermore, by defining access rights, ISIX can limit information access for different users.