Costwitness

Costwitness is cost tracking software for owners on guaranteed maximum price construction contracts. On a GMP contract the only ledger usually belongs to the contractor: the contingency log, the change order list and the pay application are all written by the party spending the money. The owner reads a monthly summary with nothing to check it against.

Costwitness builds a second ledger from the owner's own documents. It records what the contract says, what the draws show, and who decided what.

Nine modules:

GMP baseline. The contract sum and its schedule of values are set once and frozen. Every later revision is versioned with a reason and a name, so the number the project is measured against is never quietly edited.

Contingency ledger. Contractor contingency and owner contingency are recorded as two separate funds, never one total, and charted against percent complete. A draw with no supporting document is flagged. The month a fund runs empty is stated as a date rather than a percentage.

Change order register. Every change carries a cause: owner scope, design gap, unforeseen condition, coordination, or unclassified. The cause decides which fund pays under the contract. Every reclassification is written to an audit trail with a name and a timestamp, and items unclassified beyond thirty days are flagged.

Notice clock. Each change order carries its event date, the notice deadline and the days remaining, because a claim can be rejected on timing alone whatever its merits.

Payment applications. The contractor's monthly application is read line by line against the schedule of values it came from.

Buyout tracker. Each package carries the GMP line value it was carried at next to the value it was awarded for. The running difference is the savings pool, and unbought scope is shown as exposure.

Allowance register. Carried sums tracked against actual cost. An allowance closed above its carried sum is real cost above the contract basis.

Anticipated final cost. A waterfall from the frozen GMP to where the project lands if today's facts hold, stored once a month so the trend line is history rather than hindsight.

Shared savings. The projected pool on the contract split, with the cap and carve outs applied as written.

Monthly owner report. Twelve fixed pages generated on the first of the month, with a board page and a lender page. Guest access is read only and scoped.

What it is not. Not accounting software, and no money moves through it. Not a replacement for the contractor's platform. The software applies rules and raises flags. People decide causes, and the ledger records who decided, when, and what it cost.

Built for developers, owner's representatives, data center owners, school districts, universities and public agencies on projects from $5 million upwards. Priced per active project with unlimited users, never per seat. Free 14-day trial, no card required. Costwitness is a product of Reltic VDC LLC, a Wyoming limited liability company.