How does SeniorCRE track capital projects from board approval through commissioning?
A roof replacement gets approved in October, started in February, and finished in July — over budget. The owner does not know when the budget slipped because finance and operations look at different numbers.
Detail
Each capital project has a scope, a budget, a vendor, a schedule of values, and a punch list. Invoices apply to the project; budget burndown is visible in real time. Change orders flow through structured approval. On completion the asset capitalizes with the correct useful life on the same record.
Capital project overruns surface weeks earlier, vendor change orders are negotiated against documented scope, and asset commissioning produces a clean handoff to operations.
Key points
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https://seniorcre.com/workflows/facilities/capital-project-tracking