A contractual risk management solution, AVEVA Contract Risk Management maximizes commercial outcome for Prime Contractors and protects Owner Operator capital investment. By connecting decision-makers and key stakeholders and enforcing critical change management processes, AVEVA helps contractors protect their profit margins and maximize cashflow, and owner operators track obligations and make informed decisions at every phase of the project, to ultimately help all parties to deliver on-time, and on-budget.
Capital projects are historically risk-ridden, but with built-in best-practices, claims management and an attentive alert system, Contract Risk Management enables greater efficiency and full project transparency, providing peace of mind, at all times. Driving better decision making, protects capital investment, aligns teams, and improves profitability of your most important capital investments.
All change orders are initiated from within using pre-approved templates. Configurable workflows manage the routing of change requests to the designated parties for review and authorization. Identifying the impacts of unplanned change effectively allows time for scrutiny to help mitigate the associated risk of cost and schedule overage and potential claims.
Using one central system encourages on-time and on-budget construction contract delivery as all contractor interactions and issues are dealt with efficiently and full transparency of the impacts due to scope changes provides the opportunity for more effective decision making.
Alerts and reminders lower the risk of missing contractual obligations, helping to avoid claims. If one does arise, easily access all correspondence for excellent claims defense.
Early warning indicators help project management to direct their attention to the most critical situations, reducing unplanned cost overruns. Automatic line-item reconciliation prevents erroneous payments and reduces the number of contract administrators needed to process Applications for Payment.
Promotes transparency by aligning remote project teams with approved business processes to make contract award and execution even easier.
Proven solution, proven results
Having a reliable, central contract management system, trusted and used by all parties, ensures complete control on a project. From reducing profit leakage, to improving working relationships, it also helps protect Prime Contractors from subcontractors or clients gaining commercial leverage over them.
A Prime Contractor of an Industrial Capital Expenditure (CAPEX) project knows that the project doesn’t end once the contracts are signed and scope is agreed. Change is not just common – it’s inevitable. But failure to take control of all changes and decisions, and still comply with contractual obligations can lead to project delays, unexpected cost and misunderstood scope, which can ultimately lead to business critical challenges.
AVEVA Risk Contract Management was specifically designed to meet the needs of Prime Contractors and Owner Operators involved in industrial capital project execution. Available on-premise, on the cloud or as a mix of both – work to reduce risk and improve profitability on your next CAPEX project.
Gain complete control of contracts for complex projects and enterprise project portfolios.