Across upstream and downstream in the Oil, Gas & Chemicals industries, there is wide variety in the type, complexity, and size of projects requiring management visibility and control. For over 10 years, EcoSys has worked closely with the energy industry to continually improve the state of the art in project controls for owners and contractors around the world.
The result is EcoSys, a comprehensive enterprise software solution for project controls and cost management. The software is the most configurable planning and controls software available, allowing tailoring of business processes, data views, and reports with minimal IT support and without requiring any programming. From this configurability, EcoSys balances industry best practices with the flexibility to adapt to the specific needs of your organization and its requirements across project types.
Given their size and scope, mega-projects have unique complexities: multiple venture partners and stakeholders to accommodate; large and geographically distributed project teams; numerous contractors with varying levels of responsibility; massive budgets and expenditures (in multiple currencies) which must be efficiently controlled; and high data volumes from disparate systems to be reported on accurately.
EcoSys excels in handling project complexity. Our industry-leading integration brings together data from accounting/ERP systems, scheduling, and timesheet systems, to create a “single version of the truth” for automated reporting. Our web-based platform facilitates communication regardless of geography, and our best-in-class multicurrency support facilitates a global perspective, from aiding in currency hedging to tracking and reporting how exchange rate fluctuations impact performance.
Large and Small Capital Projects
While smaller capital projects may not get the headlines of their bigger cousins, they nevertheless have a significant impact on total capital expenditure. Close management oversight is required for optimal project performance with on-time and on-budget delivery.
EcoSys’ capabilities in project portfolio management and cost controls directly address the core requirements for capital project management. Budget authorizations for portfolios of projects can be managed by fiscal year and project life. Projects can be selected from the set of potential projects based on any number of strategic factors. Once projects are in execution, focus shifts to monitoring progress and performance to ensure compliance with authorizations. As issues and changes arise, EcoSys tracks and measures their impacts and supports documentation of the corrective actions being taken.
Shutdown & Turnaround Projects
The scale and impact of shutdowns and turnaround projects can put millions of dollars at risk each day. They require daily insight into progress on typically very large and expensive initiatives. The speed and intensity of the work creates high data volumes of cost, progress and schedule data that must be integrated quickly and seamlessly to support real-time analysis. Management needs to analyze various corrective actions to minimize cost and schedule overruns when they begin to occur, however, too often existing planning and controls systems are inadequate for the task at hand, leading to inefficient use of resources and questionable report accuracy.
Through integration of schedules, timesheets, expenditures and progress, EcoSys has successfully guided many shutdowns and turnarounds for our customers. Through tailored business rules, standardization of processes, and automated reporting including daily earned value calculations, EcoSys has delivered greater visibility into project performance and rapid access to the vital information that shapes business decisions.