OneVision EPM solution helps the project manager to forecast and control the project cost and profit in the whole project life cycle.

Set Budget and Baseline

At the beginning of project, PM can set project budget according to Scope of Supply. The project cost is broken down to more detailed cost category, Budget Code. All project cost will be assigned with a budget code, such as material, labor, overhead, expense and subcontract.

Budget code is linked to Scope of Supply, so PM can identify which part of project has cost issues.  PM can have cost information including:

• Budget cost – Budget at the very beginning of  project, a rough cost budget for quotation
• Revised cost – Cost base line decided by project manager when project kick off and project manager take over the project
• Forecast cost  - Project manager review project cost and estimate cost  periodically, including material, labor, expense, etc. , based on material requisition, purchase order, labor requisition by production manager, or other cost information.
• Actual cost – Cost actually happened,  aggregated from project related transaction,  i.e. material issuance,  time sheet feed back, etc.

Forecast cost before it happens

It’s always difficult to estimate cost before it happens. OneVision EPM solution help project manager estimate cost that would happen for each project and budget code. Forecast cost is automatically aggregated by system and PM can adjust figures manually.

• Material and subcontract cost — Aggregated from material requisition and  purchase order
• Labor cost — Production manager will forecast labor based on production progress and actual production hours.

PM can also go to more details, such PO, material requisition to know where the forecast cost comes from.

Monitor cost variance and estimate profit

Project manager will periodically  review compare cost data (budget,  revised, forecast and actual cost)  .  With forecasted cost, PM can estimate profit of each project.

OneVision Project score card help PM to monitor project cost and profit. PM can easily find cost issues from gaps between forecast cost and budget cost, and by comparing current forecast with previous forecast.

When project starts,  project manager should set a Project Work Break Down structure to decide detailed tasks for a project, such as, design, core material procurement, logistics and installation. This is normally done by Ms Project outside ERP.  Project manager will find it ‘s difficult to co-ordinate the project plan in Ms Project with production and material plan which are in ERP system.

Each project manager has its own way to plan project tasks. There’s always issues that when project changes but the project manager forget to adjust the project plan.

OneVision ERP Project plan modules provide comprehensive Planning solution for  ECP companies.

Link Plan to Scope of Supply

• Project task  is created automatically according to Project Scope of Supply. So project manager will get new task plan when project scope changes.
• Project task plan is linked to Project Mile Stone. By changing the date of Mile Stone, project manager can easily change the project plan.

Integrate Task  Plan with MPS and MRP

• Project Plan is integrated with Master Production Plan and Material Plan. It’s easy to find gaps between different plans.

Quotation and Budget is linked to project Scope of Supply,  i.e.  a deliverable product may include cost of material, labor, expense, overhead, etc.

With predefined project template, system automatically create a blank Budget and Quotation form,  so that project manager can make budget and quotation easily.

In ECP project, customer may changes the scope of the contract. With OneVision ERP, project budget changes with project scope, so the project mangager can adjust the budget and re-estimation the cost and profit of the contract.

A typical project may include deliverable product and service, such as design, shipping, installation  etc. Most of product may be delivered as Part and installed on customer site. Further more , at the beginning of contract,  there is no detailed  specification of final product.

OneVision  Contract Management help EPC companies manage customer contract in details.  With OneVision Project Contract, EPC company can define Scope of Supply for each project, delivery mile stone, billing schedule, etc.

• Manage  Scope of Supply of complex projects;
• Project budgets and baselines;  forecasts cost , earned value and profits;
• Manage drawings, part lists and materials for specific project
• Synchronize  project schedules, production plans and material plans meet delivery date;

OneVision EPM solution provide comprehensive function which help EPC companies manage the  project life cycle.

OneVision EPM Solution include: