Cu estimates in Maximo

CU Estimates in Maximo is a tool that helps you estimate the cost of a project. It's like a budget plan for your project.

Here's how it works:

Break down the project: You divide the project into smaller parts (like tasks or materials).

Estimate costs: You guess how much each part will cost (like labor, materials, or equipment).

Add it all up: You combine the costs of all parts to get the total project cost.

Benefits of using CU Estimates:

Accurate estimates: It helps you guess the cost more correctly.

Better decisions: You can make smarter choices about how to spend money.

Efficient work: It can save time and effort.

Good project management: It helps you keep track of costs and progress.

In short, CU Estimates is a helpful tool that ensures your project stays within budget.

CU Estimates can be applied to a single work order in Maximo to provide a detailed cost estimate for that specific job.

Here's how it works:

Create a new work order: Start by creating a new work order in Maximo, specifying the necessary details such as the work order number, description, and priority.

Link to a CU Estimate: Associate the work order with a CU Estimate. This can be done by selecting an existing estimate from the list of available estimates or creating a new one specifically for the work order.

Review and update the estimate: Once linked, you can review and update the CU Estimate to ensure it accurately reflects the costs associated with the work order. This may involve adjusting quantities, unit prices, or adding additional lines as needed.

Approve the estimate: After reviewing and updating the estimate, it can be submitted for approval. The approval process can involve multiple levels of review, depending on your organization's specific requirements.

Track progress and costs: Once the estimate is approved, you can use Maximo to track the progress of the work order and compare actual costs to the estimated costs. This helps you identify any variances and take corrective action if necessary.

By applying CU Estimates to individual work orders, you can gain a better understanding of the costs associated with each job, improve resource allocation, and make more informed decisions about project management.

The status flow of CU Estimates in Maximo typically involves the following stages:

Draft: The estimate is created and in the initial stage of development.

Submitted: The estimate has been completed and submitted for review.

Pending Approval: The estimate is awaiting approval from the designated approvers.

Approved: The estimate has been approved and is ready to be used for planning and budgeting.

Rejected: The estimate has been rejected and requires revisions.

Closed: The estimate has been completed and is no longer active.

The rules associated with different CU Estimate statuses in Maximo can vary depending on your organization's specific configuration and workflow requirements. However, here are some general guidelines that may apply:

Draft:

The estimate is in the initial stage of development and can be modified freely.

The estimate may not be linked to a work order or project.

Submitted:

The estimate has been completed and submitted for review.