RedTeam 7. Mamage Buyout At Risk Flashcards
This deck will deal with the actions you can take in IN PROGRESS STATUS.
Tell me about the option to Manage Budget.
Manage your project Budget. The Budget is automatically generated with the same cost codes and amounts from your Takeoff cost estimate. Once In Progress, you can adjust these amounts accordingly.
Tell me about the option to UPLOAD EXECUTED CONTRACTS.
When the Customer returns the signed and executed Proposal, you can upload this, along with any other relevant contract documents (permits, etc.) into RedTeam. Clicking here will take you directly to the Manage Contract Documents section of the Contract tab so you can upload the files.
Tell me about the option to MANAGE BUYOUT AT RISK:
The Buyout At Risk is a column on your Budget which equals the amount from your Takeoff cost estimate. The idea is that upon being awarded the contract for a project by a Customer, you are now 100% “at risk” for the scope of work in your Proposal. You reduce amounts in the Buyout At Risk by issuing Buyout Commitments (subcontracts, purchase orders, labor authorizations and expense authorizations to employees). You can update the Buyout At Risk amount manually from the Budget tab, from Manage Buyout At Risk in the Buyout tab, or when automatically prompted upon committing a Buyout Commitment.
Tell me about the option to MANAGE COMMITMENTS:
“Commitments” refers to Buyout Commitments, managed in the Buyout tab. You can have as many types of Commitments (subcontracts, purchase orders, labor agreements, etc.) as you want in RedTeam (contact your system administrator to create new Commitments in Configuration). Additionally, employee Commitments like Labor Authorizations and Expense Authorizations are issued from the Buyout tab.
Tell me about the option to MANAGE VENDOR PAYMENTS:
Vendor Payments refers to the Invoices received from your Vendors that must be approved and paid. Clicking this option will take you to the Manage Payables section of the Buyout tab so that the user has access to the information without having to navigate to the Accounting section of RedTeam. Here you can view details about all Invoices from Vendors for this project, as well as the Payables Aging, Pending Approvals, Vendor Invoices, and Disbursements reports.
Tell me about the option for POTENTIAL CHANGE:
Click here to start a new Potential Change to the Customer. You will be required to fill out a form with general information about the Potential Change. From there, you can manage the entire Change process and put together your Change Proposal to the Customer.
Tell me about the option to REQUEST OWNER CHANGE ORDER:
Click here to create an AIA-style Request for Change Order to send to your owner for approval. You can create a Request for one Potential Change, or group multiple Potential Changes together. Only Potential Changes in Proposal status can be added to a Request for Change Order. Once approved, you can come back to this screen to convert the Request into an approved Change Order, which will allow you to roll the entire Change or group of Changes into the original Workorder.
