Enhance budget control with Primavera cost control solutions

Exercise greater control over your project’s budgeting to prevent cost overruns.

Why budget control is important in construction projects

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.

How Primavera cost control solutions enhance budget control in construction projects

analysis and forecasting

Integrated cash flow analysis and forecasting

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.

Aligning the cost codes with the cost breakdown structure

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.

cost breakdown structure
Centralised management

Centralised management of all project aspects

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.

Built-in reporting functionality

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.

Centralised management

Collaborate with Compass Consult to keep construction project costs within budget

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.

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FAQs

What are some of the biggest challenges to construction project cost control?

Some of the biggest challenges to construction project cost control include unexpected client changes, inaccurate cost estimates at the beginning of the project, data silos, and a lack of collaboration.

Is Primavera cost control software, Unifier, difficult to learn and use?

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.

What are the ongoing costs associated with the Primavera cost control solution, Primavera Unifier?

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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