Collaborative Contracting for CAPEX Success
AVEVA Refining Solutions offer AVEVA Contract Risk Management on their secure cloud platform, Connect, to assist Engineering, Procurement and Construction (EPC) Prime Contractors and Owner Operators in managing industrial capital project execution. This software helps track and manage obligations, automate the receipt, review, and approval of changes, and handle their financial and contractual impacts throughout the project lifecycle. Going beyond traditional tender and supplier management systems, it provides complete lifecycle management to enhance decision-making, team alignment, and overall project risk reduction.
Managing CAPEX Risk Effectively
Designed to address the unique requirements of Capital Project contracting, AVEVA Contract Risk Management can manage contracts on individual projects or across the enterprise. It can also be part of a Unified Project Execution approach to optimize return on capital investment. By providing alignment, automation, and support for best practices like collaborative contracting and Integrated Project Delivery (IPD) strategies, AVEVA helps organizations effectively manage contractual risks and prevent project overruns.
Key Features of AVEVA Contract Risk Management
One of the key features of AVEVA Contract Risk Management is effective change control. The software allows users to initiate change requests using preapproved templates, manage change request workflows, and identify the impacts of unplanned changes to mitigate risks effectively. It also enhances financial control by providing early warning indicators, automatic line-item reconciliation, and detailed financial insights. Additionally, AVEVA aligns project parties through best-practice claims management, alert systems, and proactive dispute mitigation strategies.
Customer Success Stories
Sakhalin Energy and Shell are a few of the customers who have benefitted from AVEVA Contract Risk Management. Sakhalin Energy streamlined their contracting and procurement processes, while Shell successfully managed contractual risks on $12 billion CAPEX projects without any claims. These success stories highlight the software's effectiveness in promoting transparency, efficiency, and trust among project parties.
Related Products and Resources
In addition to AVEVA Contract Risk Management, AVEVA offers a range of related products like Enterprise Resource Management, Point Cloud Manager, and Asset Information Management to support capital project construction, visualization, and information access. The software can be further enhanced with the CONNECT platform, providing secure access to a wide array of industrial software and Artificial Intelligence (AI) capabilities.
Stay Ahead in Today’s Competitive Market!
Unlock your company’s full potential with a Virtual Delivery Center (VDC). Gain specialized expertise, drive
seamless operations, and scale effortlessly for long-term success.
Book A Meeting To Setup A VDC