Empowering Efficient Control and Collaborative Project Success
AVEVA Contract Risk Management Software is a cutting-edge solution designed to empower efficient control and ensure collaborative project success. By connecting decision-makers, optimizing collaboration, and fulfilling contractual obligations, this software paves the way for a sustainable future in capital project delivery. Its robust features enable organizations to track and manage obligations effectively, automate the receipt, review, and approval of changes, and handle their financial and contractual impacts throughout all project phases. This solution goes beyond standard tender and supplier management systems, offering complete contract lifecycle management to drive better decision-making, align teams, and reduce overall project risk.
Addressing CAPEX Project Overruns
One of the key challenges in capital projects is managing contractual risk to prevent costly overruns. AVEVA Contract Risk Management features are geared towards addressing these challenges head-on. By offering a secure cloud environment through Connect, this software creates alignment and automation necessary to support contracting best practices, including collaborative contracting and Integrated Project Delivery (IPD) strategies. The software facilitates effective change control by allowing users to initiate change requests using preapproved templates and manage the routing of these requests for review and authorization. This approach helps in identifying the impacts of unplanned changes, giving stakeholders time to scrutinize and mitigate associated risks of cost and schedule overruns.
Enhanced Financial Control and Aligning Project Parties
AVEVA Contract Risk Management delivers enhanced financial control through early warning indicators that direct attention to critical situations, reducing unplanned cost overruns. The automatic line-item reconciliation feature prevents erroneous payments and minimizes the need for additional contract administrators to process Applications for Payment. Moreover, the software aligns project parties by integrating best-practice claims management and an alert system to enhance efficiency, trust, and transparency among stakeholders.
Mitigating Claims & Disputes for a Robust Project Environment
Mitigating claims and disputes is essential for maintaining a robust project environment. AVEVA Contract Risk Management facilitates this by leveraging alerts and reminders to lower the risk of missing contractual obligations. The software also automatically documents change requests and approvals, creating a strong, accessible audit trail. By proactively managing these elements, organizations can significantly reduce the likelihood of costly claims and disputes, ensuring smoother project execution.
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