 Payment
valuation is one of the major tasks for all the Quantity Surveyors no matter
they are working for Consultants or Contractors as the same must be prepared
every month for every project. A simple to operate but completely integrated
computer system would be a solution to ease the work load and improve the
performance of the repetitive process of interim payment.
The
application of 'in-house' developed programme on spreadsheet would either
be too complicated to operate or not flexible enough to cater for various
requirements. Another major drawbacks of these 'in-house' programme is that the
set-up and the logic behind usually depending on the personnel who 'create' the
spreadsheet, any errors or future amendments would require that particular
personnel's explanation and guidance.
As interim payment valuation is a continuous process for a
long period of time (usually 2-3 years), and would have applied to different
types of Contracts, the computer system must be able to fulfil the following
requirements:
ü complete
with all options of different approaches to handle different contractual
arrangements and particulars for interim payment valuation;
ü flexibility
of handling the interim payment valuation in whatever detailed or summarized
format;
ü keeping
track of the Payment Status and Validation Reports of every
B.Q. item at all time.
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