SYSTEM AND METHOD FOR AUTOMATIC FINANCIAL PROJECT MANAGEMENT
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Abstract
A system and method for providing project management tools to support construction, renovations, maintenance and other projects. The system automates the creation, processing and approval cycles of the numerous documents involved with each project. The system provides standardized work processes through processing templates. The system provides automated control and management of the process. The system allows project initiation and funding approval by clients throughout the corporation via a desktop browser coupled to a corporate Intranet. A software application embodying the present invention and its underlying technology are appropriate for a paper intensive area. It reduces the approval cycle of projects. It automates the creation, processing and approval cycle of documents by routing documents electronically for on-line approval.
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Citations
87 Claims
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1-67. -67. (canceled)
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68. A method for monetary funds application and payment for construction projects, the method comprising:
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establishing an application on a web server;
obtaining funding approval for a construction project;
allowing a requestor to access the construction project through the web server;
submitting electronically, by the requester, information pertinent to the construction project;
determining approval of the requestor upon receipt of the information via the web server;
submitting a request for payment after a predetermined event has occurred; and
transferring monetary funds to the requestor after the request for payment is approved. - View Dependent Claims (69, 70, 71, 72, 73, 74, 75, 76, 77, 78, 79, 80, 81, 82, 83, 84, 85, 86)
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87. A method for monetary funds application and payment for construction projects, the method comprising:
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establishing an application on a web server;
obtaining funding approval for a construction project, wherein construction project is associated with a document collection and the document collection is maintained in an electronic database and wherein the document collection has a plurality of documents, each of the plurality of documents in the document collection being associated with a respective electronic notebook, the documents in the document collection being electronic documents, each electronic notebook including associated categories, for each electronic notebook the categories provided including;
a comment category that includes general notes;
a status category that includes a status of the construction project; and
a published notes category, the method including publishing notes in the published notes category to a team working on the construction project;
allowing a vendor to access the construction project through the web server, wherein the access is controlled by an access right which includes a password;
submitting electronically, by the vendor, bids pertinent to the construction project;
determining approval of the requestor upon receipt of the bids via the web server;
submitting, electronically, an invoice after a predetermined event has occurred; and
transferring monetary funds to the requester after the invoice is approved, wherein the transferring monetary funds to the requester is achieved by one of the following;
giving a credit to the vendor'"'"'s Demand Deposit Account (DDA), issuing a check, or using Electronic Data Interchange (EDI) remittance.
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Specification