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Project Costing Management

iContro ERP Project Cost Management :

is a all-around discipline requiring severe management of project data in order to maintain accurate insight into project progress and status.Effective project cost management requires the use of standardized processes and tools to ensure accuracy and reliability of information.

It provides visibility into project costs, efficiency in cost management, and provides greater accuracy and accountability. ERP G5 is designed to provide strong cost management solutions that span the planning cycle, from estimating, to budgeting and forecasting, through all stages of project execution.

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

Contract Management

  • Integrate contract data from 3rd party contract management software, or manage directly within EcoSys EPC
  • Integration of contracts/POs with change orders
  • Track contract progress based on various techniques including milestones, weighted steps,and value of work done
  • Use flexible business rules to enforce contractual requirements

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

Change Management

  • Maintain changes at each stage of the approval process
  • Apply changes to any number of budget types (original budget, current budget, current forecast, etc.)
  • Designate the business rules for change approval to align with standard processes
  • Automate workflow and email notification.

Performance Management, Reporting & Auditing

  • Flat and Technical 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 reporting metrics