Project Cost Management

Project Cost Management

Project Cost Management is a discipline involving a wide range of activities to measure cost and productivity, such as:

This is done through the full life cycle of projects. At enterprise level, a portfolio view is used to manage the overall company assets.

Effective project cost management requires the use of standardized processes and dedicated cost management software to ensure that an accurate and reliable insight is given into the project progress and status. In general, the following aspects determine the success of a project:

People: Cost engineering demands teamwork and cooperative working

Processes: Clearly defined, systematic but pragmatic ways of working

Tools: Powerful but simple tools that aid communication and systems thinking

Cleopatra Enterprise was built with these aspects in mind. It provides an integrated software solution for total cost management, covering cost estimating, budgeting, cost control and project benchmarking. Dedicated interfaces are built-in to align with planning tools, such as Primavera P6.

With Cleopatra Enterprise it becomes possible to follow the processes as defined in the Total Cost Management framework. Total Cost Management (TCM) is the effective application of professional and technical expertise to plan and control resources, costs, profitability and risk. Simply stated, TCM is a systematic approach to managing cost throughout the life cycle of any enterprise, program, facility, project, product or service. The TCM Framework is a representation of that systematic approach.

As an independent and reliable provider of total cost management software for more than 20 years, Cleopatra Enterprise has been a stable factor in an otherwise turbulent market.

Budgeting & Forecasting

Manage costs, quantities, duration and hours for any number of budget types and revisions
Smart link budgets and forecast with Cleopatra Estimating or other cost estimating software
Multi-currency
Maintain cash flow forecasts including revenues
Apply performance measures for scenario forecasting
Manage escalation and contingency rundown

Change Management

Control your changes during execution phase via dedicated Change Register
Changes can be estimated and imported from the Cleopatra Estimating module
Approve changes through the approval process
Adjust progress and manpower plan
Trend analysis in order to mitigate early warnings
Link changes with contracts/purchase orders

Actuals & Commitments

Minimize data handling through smart integration with designated business rules
Import actuals and commitments from ERP Systems and timesheets
Dedicated SAP integration
Analyze status of actuals (accruals, spent, invoiced)
Classify actuals and commitments for easy reporting

Earned Value Management

Define baseline progress and manpower curves
Seamless integration with Primavera P6 / Microsoft Project
Time phasing by linking control components to project schedule
Apply distribution curves or manual distribution
Create plots to visualize the CPI and SPI development

Progress Measurement

Progress management based on various methods including value of work, units completed, start/finish, weighted or equivalent units, milestones, physical % complete, earned value, level of effort
User defined milestones, e.g. to capture status of engineering documents
Track progress development through time and compare against the project baseline

Project Performance Reporting

Customizable dashboards
Out-of-the-box month-end reporting
Custom calendars and unlimited reporting periods
Measure performance and productivity using cost, hour and quantity controls
Configurable metrics and KPIs required to meet business processes
Graphical variance analysis to explain deviations
Prevent delay or cost overrun

Project Cost Management