Producing accurate estimates is critical to the success of projects. Project estimates are used as the basis of bids and budgets. They help ensure the necessary funding is available to cover project needs. When estimates are not accurate, projects are more likely to experience overruns and less likely to deliver expected business benefits.

With most project management and controls solutions, estimates are siloed from the rest of the project lifecycle. Too often, Excel becomes the answer. But EcoSys provides an all-in-one solution that makes project estimating easier and more efficient every step of the way.

Have confidence in your estimates.

Explore Estimating with EcoSys

 

Key Benefits of Project Estimating with EcoSys

By connecting estimating to opportunity management, project stage gates, budgeting, change management, closeout, and benchmarking, EcoSys delivers:

Efficiency

Easily create estimates using industry standard and custom templates

Accuracy

Eliminate manual data entry and standardize processes to drive consistency

Visibility

Gain immediate visibility into costs and estimate status for all stakeholders

A Single Solution for All Project Estimates

EcoSys allows you to manage all project estimates in the same solution as other key portfolio management, project management and controls, and construction management processes. Use EcoSys to create estimates for the majority of projects that are straightforward and standard. Import estimates for more complex projects created in other commercial estimating software. Then, project teams can leverage all estimating data within an integrated environment to better manage project performance while capturing data to reinforce and improving the accuracy of future estimates.

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Solution Highlights

EcoSys’ out-of-the box capability supports all standard estimating functionality within the same solutions used to manage project cost, changes and performance:

  • Create estimates using labor, material and equipment resources, resource teams, crew rates, and unit rates
  • Flexible coding structures independent of project structures such as Project Cost Breakdown Structure (CBS) and Work Breakdown Structure (WBS)
  • Create budgets from estimate details
  • Built-in formulas and adjustments
  • Create and manage enterprise and project rate tables
  • Create crews and unit price libraries
  • Incorporate escalations, interest adjustments, cost burdening, and performance factors
  • Integrated foreign exchange rate tables
  • Leverage industry price books such as RS Means
  • Detailed estimates can be stored at any level of a hierarchy
  • Drill down from summary views to detailed estimate line items
  • Mobile and email enabled workflows for review and approval
  • Use pre-defined templates that include standard structures, estimate attributes, norms, and resource rates
  • Apply standard estimate attributes, categories, and cost classifications to support analysis and benchmarking
  • Maintain unlimited estimate versions/revisions, and perform real-time version comparisons and variance analysis
  • Perform and analyze what-if scenarios
  • No-code configurability allows you to tailor the solution to meet your requirements without the burden of coding and development

 

 

 

EcoSys for Project Estimating

Connecting Estimating Across Roles, Deliverables, and Processes

Project estimating spans the entire project lifecycle and affects many different roles and processes. Accurate estimates are important for the justification of new business opportunities and for benchmarking. Integrated estimating capability provides immediate visibility for project stakeholders to manage the performance of projects and portfolios.

EcoSys Enterprise Project Performance software integrates estimating with the following portfolio management, project management and controls, and construction management processes:

  • Ideation and Pipeline Management
  • Project Planning
  • Capital Budgeting and Planning
  • Resource Planning and Management
  • Budgeting and Forecasting
  • Risk, Issue and Change Management

Resolve Common Project Estimating Mistakes

Managing all project estimates in a single place increases efficiency and resolves many common estimating mistakes:

Missed Costs

Adopt standard and repeatable processes to drive consistency. Utilize templates and norms to provide a solid estimate basis.

Formula and Calculation Errors

Eliminate errors associated with using spreadsheets to develop estimates. Use built-in formulas, automatic calculations and adjustments.

Insufficient Auditing and Reviews

Optimize the review and approval process with automated workflows. Implement requirements checks and validations to ensure quality.

Limited Value Engineering

Compare estimates against alternates and benchmarks to identify potential cost savings.

Ready to complete the project controls puzzle?

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