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Digital project management tools have become popular in recent years as businesses have recognized the need for more efficient and agile project management practices. Project managers are increasingly looking to streamline project planning, track progress, monitor timelines and budgets, analyze data and improve communication and collaboration. Digital tools, platforms and software are providing robust new capabilities that project managers are searching to obtain.
One example is Hexagon’s EcoSys tool, a leading enterprise project performance (EPP) software solution that delivers these outcomes. By integrating strategic planning and project execution, a number of project risks can be mitigated, including schedule deadlines, budgets and overall quality.
Designed to help organizations better manage capital project delivery, EcoSys serves as an all-in-one platform for project management, cost control, and portfolio management. It provides decision makers with a comprehensive view of their projects by enabling them to tie together data from multiple sources and present it in a meaningful way.
For any project, there are numerous phases, each with its own unique set of challenges. Digital project management tools can play a significant role in each phase by enabling effective communication and creating a single source of truth for project data. The result is proper cost management and meaningful data analysis. EcoSys, for example, streamlines the capital project lifecycle by providing project teams with the tools they need to make informed decisions at almost every stage.
Figure 1: The capital project phases each link seamlessly.
In the planning phase of a capital project, such robust tools provide stakeholders with the capability to construct project plans, develop timelines, and set budgets. Forecasting tools are available to users to anticipate potential issues and help the project team stay ahead of problems. EcoSys integrates with other project management software, such as Primavera P6 and Microsoft Project, to provide a complete picture of a project’s status, milestones, and deliverables.
EcoSys also supports the design phase of a capital project, providing planning and cost management capabilities to track and measure progress in digital format in real time, thus enabling changes to be tracked effectively. The tool also generates forecasts of project outcomes and allows for “what-if” scenario analysis. The accuracy of these forecasts can significantly improve the likelihood of capital project success.
EcoSys plays a modest role in the procurement phase, enabling efficient management of requests for proposals, bidder evaluation and contract awards. EcoSys serves as a centralized repository for all relevant data, giving all parties access to the information they need to make informed decisions. This helps to avoid delays and any potential issues that could arise from the distribution of information. Organizations can also leverage the Smart® Materials integrated software solution for end-to-end materials management and seamless data integration with EcoSys.
In the construction phase, EcoSys tracks project progress in real-time. This includes monitoring cost, progress and risk. It enables project team members to quickly identify any deviations from the plan and take corrective actions if necessary. EcoSys also provides stakeholders with comprehensive data analysis tools, allowing decision makers to understand the impact of changes on the overall project.
Finally, in the operation phase, EcoSys provides tools to manage maintenance, repairs and ongoing costs. The platform provides analytics capabilities which enable decision makers to better understand the performance of their projects over time. By providing access to real-time data, EcoSys helps provide the data needed to inform long-term decisions related to maintenance, renovations and other capital expenditures.
1898 & Co. utilizes Hexagon’s EcoSys EPP software solution as a comprehensive tool to manage its client engagements. Project managers and other decision makers take advantage of the tool’s capabilities to be more efficient in managing a project throughout its life cycle.
As a centralized platform for data analytics and project management, stakeholders have easy access to the data they need to make informed decisions throughout all stages of a project. By leveraging an EPP software solution like EcoSys, businesses can expect to see an improvement in project outcomes, with fewer delays, cost overruns, and other issues that can impact project success.
