Cost management is essential for any projects-driven organization, but you can’t reduce budget overages without access to the right data at the right time. How can you predict where you are headed without an accurate picture of where you are now?

EcoSys provides real-time access to data through automated interfaces. Utilize performance benchmark analysis based on all active and completed project. Standardize cost management processes across your enterprise.

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Key Benefits of Project Cost Management Software

EcoSys enables you to better forecast costs so you can limit overruns. Apply cost management best practices to your projects, portfolios, and contracts with:

Efficiency

Spend more time managing costs and less time gathering data

Visibility

Analyze project cost performance at any level of detail across your enterprise

Standardization

Manage costs consistently across all project teams

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

 

Commitments

  • Integrate commitments from purchasing systems/ERPs, draw them from EcoSys Contracts, or maintain commitments directly in EcoSys Projects
  • 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
Change Management

  • Maintain changes at each stage of the approval process
  • Apply changes to any number of budget types (original or 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

 

Performance Management & Reporting

  • 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 metrics
  • Historical snapshots and real-time comparisons with any prior reporting period
  • Unlimited “What-If” scenario analysis
  • Comprehensive Earned Value Management
  • Progress measurement using various techniques
  • Auditing of all changes

 

Actual Expenditures

  • Manage actual costs and hours based on the same attributes maintained in the general leader (GL), ERP, and/or timesheet system
  • Automate integration of actuals from one or more GL, ERP or timesheet system
  • Manage and report accruals
  • Perform period closeouts with history
    lockdown

 

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
Integration + Automation = Better Cost Management

EcoSys combines industry best practices and company-specific processes into a single cost management solution. Create estimates, calculate forecasts, and develop project controls plans easily through automated interfaces with financial, scheduling, and other project management systems.

Manage costs of all types: revenues, expenditures, resources, effort, quantities, and more. Time-phase using any method or data source to create accurate cash flow profiles and performance baselines.

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Leverage EcoSys Portfolios and Projects to systematically apply cost management best practices across your enterprise:

In EcoSys Portfolios:

Manage and maintain annual and multi-year capital budgets. Identify and develop capital plans using workflow-driven stage gates. Evaluate, rank, and select projects. Allocate and track funds from source definition through to project utilization. Ensure funds are spent according to their intended purpose using defined business rules. Develop parametric concept estimates based on benchmarks captured from past projects performance. Quickly summarize and report on any attribute at the portfolio, program, or project level.

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Capital Budgeting & Planning
Funds Management
Pipeline Management
Project Development
Portfolio Optimization & Control
Detailed Estimating & Budgeting
Change Management
Risk & Issue Management
Performance Management
Forecasting

In EcoSys Projects:

Develop detailed estimates and budgets consistently across all projects. Standardize budget, contingency, change, and forecast management processes. Time-phase based on any method or data source. Analyze project cost data using up-to-date dashboard and reports. Manage and control cost impact of changes, risks, and issues in real-time using EcoSys Visual Workflows. Measure project progress and analyze trends to identify cases of poor and strong performance.

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