When managing a large portfolio of capital projects, each project starts by developing the scope. The scope is rarely identical to a past project, but always with similarities. So the challenge is how to drive the right balance of re-use, while also being able to tweak the scope based on any given project. Furthermore, the scope typically evolves over time, starting with feasibility studies and moving towards budgeting and planning.
In addition, capital projects include a range of different types of cost; hardware, software, engineering, services, financial instruments, etc. Each of these types of costs is typically estimated in different ways, using different estimating methods and different estimating sources. Some can be automatically derived based on a price catalog or historic PO data, while some require a user to estimate or even create a sourcing event. The challenge is how to manage it all in one place, without manually typing it into an Excel sheet.
It is also critical to integrate the process with purchasing. Estimates are linked with commodities and sub-commodities and based on rules defined around sourcing, the system will automatically recommend a sourcing plan; suppliers, and sourcing tactics. The sourcing plan can be pushed into Coupa or SAP Ariba, where it can executed upon. Twenty5 will get notified of the actual progress on the sourcing and data will be directly integrated into the capital project.
Finally, the challenge of how to bring it all together. Processes and data are typically scattered among a range of different systems and only the users are holding it all together.
We believe companies managing a portfolio of capital projects are immature in managing their capital project portfolio and are stitching together projects using custom apps and Excel spreadsheets, mainly because nothing else is available. The good news is, with Twenty5, we can offer a solution to address your needs. We can handle your complexity and provide you with an integrated solution that leverages your data from SAP and PLM. Now, you can improve the way you manage capital investments.
When managing a portfolio of capital projects, there are some essential capabilities needed for scoping, estimating and managing those projects. Here are the ones we believe are especially important to you.
PROJECT KNOWLEDGE BASE
Get better for every time
Retain the knowledge from one project to the next and define best practices for repeatable project types. This helps develop scope for a new project faster and build upon the knowledge that you have gathered.
Estimating large BOMs with speed and accuracy
Import BOM from SAP, PLM, or Excel and adjust for your specific project. Use similar-to and sophisticated estimating algorithms to derive both unit cost and confidence score based on historical data.
"Pitch-ready" reporting and interactive analysis
Report based on a single source of truth. Slice and dice your plans and estimates using our powerful cost workbench. Understand risk-adjusted cost and margins.
RISK & OPPORTUNITIES
Proactively manage uncertainty
Manage risk & opportunities already during the planning process. Capture of risk during the planning process will ensure you have appropriate contingencies in place.
Built to handle any capital project
Using various structures, you can define the scope of your project to handle almost any situation. Using Phases, Items, BOM structures, organization structures, cost structures, options, etc.
Various strategies for estimating labor
Rather than relying on discrete or level of effort estimates, we let you use more reliable methods such as CER's, performance history, and parametric estimates, to anchor your estimates in past performance.
Seamless data and process integration
Seamlessly bring in data from the source systems and create project baseline for the execution phase.
VERSIONS & WHAT-IF ANALYSIS
Capture the iterative process
Planning a capital project is an iterative process going from high-level ROM's to detailed plans. Now you can capture each iteration in a new version and also do analysis to compare the versions.
BENEFITS BY ROLE
Different people will experience different benefits. As a whole, it can change the way you do business.
Estimate based on historic
Integration with sourcing
Create sourcing plan
Accelerate project setup
Automate creation of project baseline
Manage cost rates
Below are some additional resources to help you learn more about our solution and how it might help you.
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Complete the form to schedule a time to speak with our team. We will customize a presentation and demo to your specific needs and interests. We look forward to helping you win more profitable bids.