Collaborative contracting leads to CAPEX success
Available on our secure cloud platform, CONNECT, AVEVA Contract Risk Management helps Engineering, Procurement and Construction (EPC) Prime Contractors and Owner Operators involved in industrial capital project execution mutually track and manage obligations while automating the receipt, review and approval of change – and its financial and contractual impacts - throughout all project phases. Going beyond standard tender and supplier management systems, it provides complete contract lifecycle management to drive better decision making, align teams, and reduce overall project risk.
Designed to manage the unique needs of Capital Project contracting, AVEVA Contract Risk Management can be used to manage the entire contract lifecycle on individual projects or across the enterprise, or deployed as part of a Unified Project Execution approach to maximize return on capital investment.
AVEVA Contract Risk Management features
Offered on our secure cloud environment, CONNECT, AVEVA Contract Risk Management creates the ideal alignment and automation required to support contracting best practices, including collaborative contracting and Integrated Project Delivery (IPD) strategies.
Effective change control
Initiate change requests using preapproved templates. Configurable workflows manage routing of change requests to the designated parties for review and authorization. Identifying the impacts of unplanned change effectively allows time for scrutiny to help mitigate the associated risk of cost and schedule overage and potential claims.
Enhanced financial control
Early warning indicators direct attention to the most critical situations to reduce unplanned cost overruns. Automatic line-item reconciliation prevents erroneous payments and reduces the number of contract administrators needed to process Applications for Payment.
Align project parties
AVEVA Contract Risk Management’s built-in best-practice, claims management and attentive alert system enables greater efficiency and strengthens trust and transparency amongst project parties.
Mitigate claims & disputes
Avoid costly claims & disputes by leveraging alerts and reminders to lower the risk of missing contractual obligation and document change requests and approvals automatically to form a robust, accessible audit trail.
Customer success stories
Sakhalin Energy
Sakhalin Energy streamlined their contracting and procurement with greater transparency. Learn how they went from “good to great” at the link below.
Shell
Shell has deployed AVEVA Contract Risk Management for contractual risk management on 16 of their largest CAPEX projects. Learn how they achieved zero claims on the $12 Bn Prelude FLNG project.
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