Oracle’s Primavera Cost Controls is a powerful, easy-to-use solution for managing costs, cash flow, and funds. It provides automation, flexibility, and power to handle the most-complex cos control, cash flow, and funds analyses. Because it is fully integrated with Oracle’s Primavera P6, costs and schedule are fully aligned. Primavera Cost Controls empowers cost management professionals with a 100-percent Web-based solution—either installed on premises or delivered via the cloud—with an intuitive, graphical interface.
Primavera Cost Controls provides superior cost visibility and control of all cost aspects of your capital program. Track and manage budgets, commitments, spends, and forecasts. Automate all cost business transactions at the level of detail appropriate for any project size, with roll-up across the enterprise. Included are complementary modules for scheduling, document management, phase gate control, reporting and more. Primavera Cost Controls is part of the integrated Primavera Unifier offering.
Cost Management
Cost management is essential to maintaining the financial integrity of any project, contract, or portfolio. Primavera Cost Controls includes best-in-class automation of all cost processes, including estimates, commitments, spends, variances, forecasts, and more. Constantly changing information is managed through Oracle’s Primavera Unifier workflow engine, where budget changes, contract changes, and risks are all tracked to ensure decisions are responsibly made with current data. Managing these elements is enabled through the product interface or even directly from automated e-mails, increasing ease of use.
All costs roll up to a central cost sheet normalized by a robust cost code structure, where project cost information is available for drilldown by work package or for the entire project. All cost structures are easily configurable by an administrator.
Cost Flow Management
Executives and project controls professionals—including those in costs and contracts—must be able to reliably forecast final costs by taking into account actuals to date, changes, trends, and risks over time. Further complicating this is the need to understand the required capital for the coming months and years. To do so requires accurate, comprehensive reporting and analysis.
The cash flow management feature of Primavera Cost Controls is fully integrated with the business processes, cost sheets, schedules, and portfolio manager within Primavera Unifier. The cash flow management feature automatically pulls project information and transaction data directly from sources such as enterprise resource planning systems or supply chain management applications including Primavera P6. Getting data directly eliminates the errors and delays that arise from manual data entry.
The intuitive interface of Primavera Cost Controls is flexible enough to handle virtually any custom or manual cash flow curve, and the full-color graphical display facilitates analysis by allowing easy comparison.
With Primavera Unifier, you can forecast and manage cash flow needs for each project or the entire portfolio. You can also manage cash flow for individual contracts, specific line items, or even particular cost codes. It provides the granularity you need to accurately predict when and where expected project costs are forecast. You can group any curves to summarize all types of costs for comparison against your forecasts. In addition, you can create sets of curves and compare them side by side in the cash flow worksheet to analyze trends.
Primavera Cost Controls allows organizations to work on international projects and contracts by supporting multiple transaction currencies and enabling forecasts to be affected by future exchange rate estimates.
Funds Management
Capital projects can have many funding sources, each with different expenditure and reporting rules. Whether public funds such as bonds or joint-venture private sector funds are involved, there are often numerous restrictions on how, where, and when to use them. Without careful management of each funding source, projects can be delayed, penalties can be incurred, and funding sources can be withdrawn.
The funds management feature in Primavera Cost Controls provides unparalleled tracking, reporting, and assignment capabilities. As such, it can handle the most-complicated funding structures—right down to individual contracts and specific cost codes. Funding can be automated using Primavera Unifier’s robust business process workflow engine, or it can be performed manually. Users can even employ a combination of both manual and automated processes to gain ease of use and full control over how project funds are spent. The funds management feature also provides visibility into the balance, disposition, and status of each funding source—from high-level views of all sources to their use for each project and transaction—along with a detailed audit trail and full reportability.
The funds management capability is fully integrated with the cost sheet, ensuring visibility of funding against project budgets, actual spend, and forecasted spend.
With Primavera Cost Controls, you gain greater financial control, operational discipline, and reduced risk through a powerful, easy-to-use solution for managing costs, cash flow, and funds.