ShareThis

8over8 launches ProCon 2014, a Contractual Risk Management solution for Capital projects

8over8 announced the launch of ProCon 2014, the latest release of its flagship contractual risk management solution. ProCon 2014 enables owner operators of large capital projects to establish a commercial firewall against value leakage from mis-management of unforeseen change orders, missed contractual obligations and poor interface management of the portfolio of capital project contracts.

“The delays and claims that blight large capital projects are costing billions of dollars at a time when the need for capital discipline has never been greater,” says Clare Colhoun, CEO, 8over8. “ProCon 2014 provides a powerful platform that identifies and manages contractual obligations, originates manages and analyses all contractual correspondence and change and provides early warning of potential cost and schedule overruns and avoidable claims. This ultimately reduces the cost of capital in these projects and ensures predictable commercial outcomes for owner operators”.

ProCon 2014 embeds discipline in the management of project contracts through standardization of the language and terminology that underpin contractual communications, a comprehensive communication audit trail, and automated monitoring of obligations and risk. Actionable analytics and predictive insights give advance warning of potential overruns and change requests that require management attention.

“Contracts underpinning complex projects have many inter-dependencies” Colhoun continues. “During project execution, the key risks to the owner operator are related to contractual default, the management of change and mitigating against unforeseen claims. Success hinges on controlling the interface between the owner operator and the contractor, with clear rules of engagement defined, agreed, documented in advance and enforced. Using 8over8’s ProCon 2014, project owner operators can generate $100s of millions of savings by bringing rigorous commercial discipline to the deployment of capital.”

ProCon 2014 is available globally and can be deployed on premise, or via a privately managed cloud delivered by both 8over8 and authorized partners. Trusted to manage capital project contract execution in multi-billion dollar projects globally, 8over8’s ProCon is deployed in more than 60 per cent of the most capital intensive energy projects worldwide.

About 8over8:
8over8, an AVEVA Group company, provides contract risk management software that helps large and complex projects improve performance and profitability. 8over8’s platform, ProCon, has been deployed on over 250 projects that manage $500bn of assets, saving customers up to 5% on their capital investments. Headquartered in UK, and with offices in the Middle East, Europe, North America and Australia, 8over8 has built a loyal blue-chip customer base globally including PDO, Shell, BP, Chevron, Santos, Wintershall, Caspian Pipeline Consortium, Woodside and INPEX among others.

MEDIA CONTACT:
Ritchie Anderson
Product Marketing Manager
8over8, an AVEVA Group Company
r.andersson@8over8.com
Tel: +44(0) 28 7129 5930

About the author
Ritchie Anderson |
Ritchie is Product Marketing Manager for ProCon, the web-enabled platform that delivers complete contract control to asset builders and EPC contractors. He has over 25 years’ experience of working with major projects in C&P and IT roles for owner operators & EPC contractors.
Follow on Linkedin
New Call-to-action
New Call-to-action