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Exercise greater control over your project’s budgeting to prevent cost overruns.
Did you know that on average, 80% of large construction projects experience cost overruns, according to research by McKinsey? In another study by KPMG, only 31% of construction projects surveyed managed to complete their project within a 10% margin of their planned budget over three years.
In construction projects, certain challenges, such as sudden changes in the client’s requirements, can delay a project. This can accrue higher costs the longer it takes to complete the project.
Research shows that 55% of project managers attribute budget overruns as a key contributor to project failure. In the construction industry, meticulous budgeting and cost control are crucial to ensure that project teams keep within their allocated budget.
By turning to Oracle Primavera cost control solutions, commonly known as Primavera Unifier, construction companies can mitigate risks, optimise resource allocation, and deliver projects within budget.
Being an outstanding tool for cash flow analysis and cash flow forecasting, Primavera Unifier helps construction project managers make clear cost estimations to achieve better cost management at different phases of construction projects. The collection of project financing information from multiple sources enhances budget preparation efficiency and enables early detection of shortfalls in cash flow.
Primavera Unifier's ability to align cost codes with the cost breakdown structure (CBS) enhances project progress tracking and cost management. By establishing a clear hierarchy of cost categories, the platform enables project teams to monitor expenditures at various levels, from individual tasks to overall project budgets. This alignment allows for better control and visibility of project costs.
Primavera Unifier's centralised platform provides a single repository for all project information, including cost data, compliance requirements, and project documentation. This centralization enables more effective data management and informed decision-making. By having all project information in one place, project teams can easily access and analyse data, identify trends, and make data-driven decisions.
Unifier's built-in reporting functionality helps construction project managers analyse project performance and create business plans. The platform can create custom reports, allowing project teams to track key performance indicators (KPIs), monitor budget variances, and generate financial statements. These reports provide valuable insights into project progress and help identify areas for improvement.
At Compass Consult, we are committed to helping project management teams in the construction industry improve their cost control and budgeting efforts to ensure optimal project outcomes.
With our Oracle Primavera Unifier software implementation services, expert consultants, and your best interests at heart, we can help you manage your construction projects seamlessly, regardless of how complex your portfolio of projects is.
Contact Compass Consult today and get ongoing support to enhance your project management capabilities.
“I got trained for Primavera P6 PPM through Compass Consult. Honestly, the things that got me in were their competitive pricing and payment plans in offer. The thing that I highly admire about the training is that it is a very practical, hands-on training wherein you can learn while working on your own project. The trainers are highly experienced and fundamentally strong. I would strongly recommend the training to someone who needs hands-on experience in P6.”
“We got our Primavera P6 EPPM software and Installation done through Compass Consult. The solution that was given was a good fit for our company size and compliant for the types of projects that we do. One thing that I admire a lot is the customer service team who were very quick in resolving any queries we had and gave us full clarity of the process. I recommend Compass Consult to any company looking for a genuine solution to their Project Management needs.”
“We found Compass Consult through an online search and got competitive pricing from them on Primavera P6 implementation and consultancy. We found their delivery team easy to deal with and it was a smooth process overall with a great hassle-free experience. I would highly recommend working with Compass Consult for setting up your project controls systems and processes.”
"Compass has bent over backwards to meet the needs of SRG Global. They have been patient as we went through the process of reviewing and approving the equipment. Equipment was then delivered promptly to the location we requested. The project does not start until the new year, but given the excellent service thus far, I am highly confident it will not have any issues with the network connectivity setup."
While Primavera Unifier is a powerful tool, it has a learning curve. Compass Consult offers expert-led training to help project teams get the most out of the software.
The cost of Primavera Unifier varies based on the specific features and functionalities your company requires. It’s best to contact an authorised Primavera reseller for a quote.
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Compass Consult is a globally recognized project portfolio management service provider. Our team comprises experienced civil engineers, risk management experts, and project controllers with outstanding track records for delivering exceptional project planning, earned value management, cost control, and schedule control services.
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