There are so many moving parts when it comes to your capital projects, and one of the most important and daunting tasks is budgeting.
Especially challenging is keeping track of key information the project team relies on. Information that determines if they’re ahead, behind, on schedule, or if their project is over or under budget. However, a current problem in the industry is that this information gets recorded and tracked in multiple systems, which is not efficient and cost effective. With InEight’s Earned Value Management solution, contractors and other project stakeholders can make budget adjustments, audit all budget changes, and forecast revenue to help facilitate earned value analysis.
In order to determine the health of the project, earned value analysis requires budget, schedule, progress, and forecast data to derive key metrics.
By keeping all of this information in the same system the current budget is exactly that, current. By capturing daily production quantities in the field along with other timesheet data, contractors and other project stakeholders can instantly see what has been earned for that day. If you’d like to learn more about this and other InEight solutions, contact us. We’ll be happy to schedule free demo.