Patent ID: 7933790
Filing Date: 2011-04-26
Classification: G06Q

Abstract:
1. A computer and web-enabled multiparty, multicontract project management system comprising: one or more computers configured to: a) store information required to manage at least one contract comprising at least one contract set up and at least one phase set up; b) assign multilevel, party-identity dependent, accessibility by unlimited authorized users wherein said users include at least one pay application originator having an account, at least one pay application approver, and a funds holder; c) provide and report information on contract progress, budget and costs to date, phase progress, phase budget and costs to date, change order monitoring, and payment tracking data; d) automatically update certain data fields in response to new entries in linked fields comprising running balance management of funds available, spent, paid, overbudget, and underbudget for any of the following: project, contract, phase, and time period; e) balance and report stored materials levels; f) record a schedule of values for each said phase; g) designate a sequence of a plurality of approvers for a selected phase; h) receive and process a request for payment from said pay application originator and a signed waiver form; i) notify each said approver that approval is required, allow said approver to indicate a response, indicate which approver in said sequence is required to respond next; and j) withdraw funds equal to said payment request from an account held by said funds holder, deposit said payment into an account controlled by said system and transfer said payment to the originator's account and release said signed waiver form to at least one said approver.