With annual capital budgets into the billions, and thousands of projects delivered each year, power generation and utilities organizations are struggling under the weight and range of project and financial information that must be managed. These organizations are challenged with getting a true picture of how capital and operational execution relates to organizational strategy and regulatory commitment.
From a systems perspective, utilities organizations often maintain multiple project and work management systems in isolation, maintain financial actuals in ERPs, and typically use offline spreadsheets for financial planning, forecasting, and reporting. There is often no link between strategic plans and project delivery, leaving the organization unable to react quickly to issues and trends.
EcoSys EPC (Enterprise Planning & Controls) addresses these issues with an easy to use web application that allows for the maintenance and integration of complex data at varying levels of detail.
Budgeting and Planning
EPC provides robust features for annual and multi-year budget planning, budget requests, and approvals. Budgets can be managed top-down, from organization lines of business down to projects and phases. Programs, projects, and operations can be funded from one or more source. Learn MoreProgram and Project Forecasting
EPC provides the ability to consolidate program, project, and operational forecasts from Project Management systems and ERPs and give project cost managers the ability maintain financial forecasts by accounting month and financial category. Using a simple spreadsheet-like web interface, cost managers can view and update the latest forecast information, produce reports, and analyze trends. Learn morePerformance Measurement
Flexible performance analysis and reporting are key requirements for finance managers. EcoSys EPC provides the ability to consolidate and view actual expenditures from multiple sources (ERPs, GL, and Project Management systems). Accruals can also be managed via EPC. A formal financial closeout process provides for lockdown of history, at the same time, authorized users can perform secure financial adjustments to prior period data.Flexible multi-dimensional reports and graphs can be easily created in EPC without the involvement of technical or administrative staff. Users can analyze top-down organizational budgets and strategy versus bottom-up forecasts and actuals and view variances and trends by period. Learn more
Regulatory compliance and governance
For regulated companies, a key challenge addressed by EPC is the ability to align capital investment strategies with regulatory commitments. Regulatory compliance information can be flexibly categorized and tracked against actual project delivery information. EPC also supports multi-year budgeting for organizations that must comply with multi-year commitments.Custom reports can be easily created to support the specific needs of the regulator or governing body.
Shutdowns, Turnarounds, and Outages
The scale and direct business impact of shutdowns, turnarounds and outages can put millions of dollars at risk each day. Effective management requires assessing daunting volumes of data in very short time windows. Too often, existing planning and controls systems are inadequate for the task at hand, leading to inefficient use of resources and costly overruns.EPC delivers best practices for owners and contractors to evaluate project performance and minimize costs. Specific STO capabilities include time-sensitive integrations of cost, schedule and timesheet data; daily earned value reporting; visibility into contractor performance; tailored business rules; and standardization of processes and structures. Download EcoSys EPC Slide Presentation for STO
Related Links
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