POWER & UTILITIES – Contract Management challenges
Investment in electricity, water and other utilities is set to grow around the world, both in terms of developing new facilities to meet increased demand and also with the need to replace ageing, inefficient assets and transmission/distribution networks. Suppliers to these highly regulated markets must ensure that they comply with governmental policies and local regulations, whilst keeping consumers happy with competitive rates and good levels of service. Financial discipline, cost transparency and stakeholder communication are critical success factors to achieving predictable commercial outcomes on these complex, capital projects.
ProCon for Power & Utilities – Contract Management Solution
Predictable Commercial Outcomes
- Actionable early warning indicators of potential cost and schedule overrun on strategic, mission-critical contracts increases the likelihood of assets meeting predicted financial performance and outturn costs.
Robust Capital Discipline
- Standardized, industry-proven workflows align with contracting and procurement strategies to reduce contractual risk throughout sourcing, bid evaluation, contract award and contract execution;
- ProCon contract management solution can be used to systemize a variety of contract frameworks to execute the project contracting strategy, for example NEC3, FIDIC and customer-specific agreements;
- Incontestable threaded and time-stamped evidence ensures that all project and contract stakeholders bear their appropriate share of legitimate, unplanned costs.
Connected Decision Making
- Standard best practice processes ensure that the right people work on the most important issues at the right time and in the right sequence;
- Automated workflows ensure that delegated authority policies are followed across complex project stakeholder interfaces;
- ProCon – contract management solution – empowers commercial, technical, project, legal, contractors and other project stakeholders to work effectively to manage change, claims and mitigate contract risk.
Transparent Stakeholder Engagement
- The complete, indisputable commercial audit trail of all significant tender and contract communications, contractual obligations and reviews is visible to all stakeholders, improving the quality of decisions and reducing approval bottlenecks;
- System-wide communication channels align interfaces between project partners and reduce the potential for cost overruns and complex disputes that may threaten the whole project.
Real-time Contract Analytics software
See Further and Act Faster with ProCon Analytics
- Advanced insight into all commercial engagement and contract execution data with early warning indicators of contract and budget risk in easy-to-view dashboards;
- Connects all decision makers with trend insights across all projects in a portfolio;
- Integrates with existing systems and reporting tools to increase the wealth of data and reduce total cost of ownership.