Manage your contract commitments
The Pims Contract Management module registers, maintains and follows up project commitments such as contracts, sub-contracts, purchase orders, frame agreements and call offs.
Within a project it is important to get an overview of all your contracts and information within the contracts. Contract Management gives you this overview. With all this information systemized the project gets a unique control of the categorized commitments, variations to the contracts, contract milestones and implementation plans and actuals for the contracts.
With this module in addition to the Cost Management module you will both get a project overall overview and the details for each of the contracts in the project.
Introduction to Omega 365 - Contract Management
A toolbox for contract follow up in a project
Contract forecast and commitments
Contractor baseline management
Contract cost and progress status
Cash calls control
Milestones
Tracking variation orders
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Contract forecast and commitments breakdowns
By tracking contract forecast and all the commitments it will build a good foundation for your overall project forecast. Procurement and cost engineers can work together in the same system to both control commitments and the funding of each commitment.
Track cost and progress plans and actuals for the contracts
With the contractor plans and actuals the project can control and ensure expected progress and cost. Any deviations to the plan can be identified early and countered with mitigating actions.
Features
A toolbox for contract follow up in a project.
Contract forecast and commitments
Contract forecast and commitments broken down, classified and quantified. Every element in the contract has it's own breakdown and are linked to your overall project Work breakdown structure.
Contractor baseline management
Add the contractor baseline for cost and progress to have a basis for comparison.
Contract cost and progress status
Cutoff based status for cost and progress to perform proactive decision-making.
Cash calls control
Monitor contracts to foresee when payments in different currencies will take place.
Milestones
Contract Milestones gives an additional tool for contract follow up. Add original, forecast and actual milestone dates.
Tracking variation orders
All variations in a contract can be tracked from the initial request to the final status. The workflows can be used to interact and digitally sign the different steps in the process. This gives a seem less interface between the company and the contractor. This limits possible deviations and misunderstandings between the company and contractor regarding the status of each variation request.
All the decisions for contract variations will update the contract forecast and commitments accordingly.
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If you're interested in Omega 365's products and solutions or simply want more information, please don't hesitate to contact us or request a demo!
