Earned value management

• Earned value techniques ensure accurate forecasting and minimize potential performance issues.
• Time-phased spending and physical progress is planned for each work package.
• Actual costs and progress are reported, per cut off, against each work package.
• The graphical reports display key values, including planned value, actual cost, cost variance, CPI, and SPI. The system also has screens that allow the analysis of cost performance at all levels of the WBS.

Scope and change management

• The system allows for the documentation of scope and responsibilities for each element of the Work Breakdown Structure (WBS), which organizes and defines the total scope of the project.
• The various parts of the WBS can have different levels of decomposition.
• The Change Management module enables the tracking of all changes to the scope. The workflow features makes it possible to ensure efficient and auditable review and approval processes.
• Design or scope changes are segregated from other types of changes in order to clearly identify cost variances caused by changes to scope or design.

Baselines

• Cost and progress performance is measured and reported against a baseline. In Pims, past baselines are automatically archived when activating a new baseline. Pims offers several reports and analyzing tools, targeting both Management and Cost Engineers, including:
  • Cost curves
  • Progress curves
  • Cost status
  • Flexible pivot reports
• The system guides the end users through the baseline update process to ensure that users can easily access relevant reports and update the right information at the right time.

Forecasting

• The Cost Management system provides tools to assist Cost Engineers to prepare accurate forecasts, and can be used in a wide range of scenarios (e.g. reimbursable contracts, fixed-price contracts, internal project team cost etc.).
• Key information from earned value analyses, contracts, changes, and personnel costs are easily accessible and seamlessly integrated at the lowest level of the WBS.
  • Contract management: Track the original contract, plus all approved and potential changes to the contract.
  • Earned value analysis: Track key indicators such as cost performance, cost variance, and schedule performance.
  • Personnel module: Monitor the actual cost for the Project Management Team and forecast based on position duration and rates.
  • Quantity management: Follow-up detailed unit, rate-based contracts.