Solutions

Project Cost Management

Project Cost Management is a multi-faceted discipline requiring rigorous management of project data in order to maintain accurate insight into project progress and status. Effective project cost management requires the use of standardized processes and tools to ensure accuracy and reliability of information.

Integrated Cost Reporting with EcoSys EPC softwareEcoSys EPC is a web-based project cost management solution which provides the usability of Excel-like spreadsheets, with the power and control of an enterprise database application. It provides visibility into project costs, efficiency in cost management, and provides greater accuracy and accountability.  EcoSys EPC is designed to provide robust cost management solutions that span the planning cycle, from estimating, to budgeting and forecasting, through all stages of project execution.

Organizations can leverage EcoSys EPC to make proactive business decisions which positively impact project performance.

While the benefits of the software are numerous, the following presents some of the key features that make EcoSys EPC the ultimate project cost management solution.

Budgeting & Forecasting

  • Manage costs, quantities, and hours for any number of budget types and revisions
  • Budget in any currency
  • Import budget line items from Excel or other file formats
  • Maintain cash flow forecasts
  • Apply performance measures for scenario forecasting

Actual Expenditures

  • Manage actual costs and hours based on the same attributes maintained in GL/ERP/Timesheet systems
  • Integrate actual expenditures from one or more general leader (GL) or ERP systems using files or automated imports
  • Integrate with actuals from timesheet systems
  • Manage and report accruals
  • Perform period closeouts with history lockdown

Change Management

  • Maintain changes at each stage of the approval process
  • Apply changes to any number of budget types (original budget, current budget, current forecast, etc.)
  • Designate the business rules for change approval to align with standard processes
  • Automate workflow and email notification
  • Link changes with contracts/purchase orders

Contract Management

  • Integrate contract data from 3rd party contract management software, or manage directly within EcoSys EPC
  • Integration of contracts/POs with change orders
  • Track contract progress based on various techniques including milestones, weighted steps, value of work done, physical % complete, earned value, LOE
  • Use flexible business rules to enforce contractual requirements

Commitments

  • Integrate commitments from purchasing systems/ERPs, or maintain commitments directly in EcoSys EPC
  • Analyze commitment status by relevant project and contract attributes
  • Initiate and track requisitions in advance of commitment
  • Link commitments to changes, and time-phase future commitments

Performance Management, Reporting & Auditing

  • Tabular and Graphical reporting and analysis
  • Dashboards and Drilldown views
  • Budget Status reporting
  • Variance & Trend reporting
  • Reporting by varied periods: Fiscal Periods, Inception to Date, Current Period
  • Management of centralized formulas for KPIs, variances, and any other standard reporting metrics
  • Historical snapshots and real-time comparisons with any prior reporting period
  • Unlimited “What-If” scenario analysis
  • Comprehensive Earned Value Management
  • Capital and O&M reporting
  • Funds Management reporting
  • Progress Management based on various techniques including milestones, weighted steps, value of work done, physical % complete, earned value, LOE
  • Auditing of all changes

Multi-Currency Management

  • Manage costs in any currency
  • Report in any currency, in addition to native, project, and enterprise currencies
  • Associate each project with specific foreign exchange rate table
  • Apply varying exchange rates to time-phased forecasts
  • Identify commitments in each currency, for hedging
  • Track currency fluctuation impact as project deviations

 

Full Lifecycle Project Cost Management with EcoSys EPC

 

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