Collaborative Contracting for CAPEX Success
Aveva Marine Contract Risk Management, available on the secure cloud platform Connect, offers a solution for Engineering, Procurement, and Construction (EPC) Prime Contractors and Owner Operators engaged in industrial capital projects. This software allows mutual tracking and management of obligations while automating the process of receiving, reviewing, and approving changes throughout all project phases. Beyond standard tender and supplier management systems, it provides comprehensive contract lifecycle management to enhance decision-making, align teams, and reduce project risk.
Effective Risk Management for CAPEX Projects
A key feature of Aveva Marine Contract Risk Management is its ability to manage the entire contract lifecycle on individual projects or enterprise-wide. It can also be deployed as part of a Unified Project Execution approach to optimize return on capital investments. By effectively managing contractual risk, this software helps address CAPEX project overruns and ensures that projects stay on track, on time, and within budget.
Key Features of Aveva Marine Contract Risk Management
Aveva Marine Contract Risk Management, available on the secure cloud environment Connect, offers various features to support contracting best practices. These include effective change control through predefined templates and configurable workflows, enhanced financial control with early warning indicators and automatic reconciliation, alignment of project parties through claims management best practices, and mitigation of claims and disputes through alerts and reminders. The software ensures greater efficiency, trust, and transparency among project stakeholders.
Customer Success Stories with Aveva Marine Contract Risk Management
Companies like Sakhalin Energy and Shell have successfully streamlined their contracting and procurement processes using Aveva Marine Contract Risk Management. Sakhalin Energy achieved greater transparency in their operations, while Shell has managed contractual risk on multiple CAPEX projects, including the $12 Bn Prelude FLNG project, without any claims. These success stories highlight the effectiveness of Aveva Marine Contract Risk Management in real-world project environments.
Related Products and Resources
In addition to Aveva Marine Contract Risk Management, AVEVA offers other related products such as Enterprise Resource Management, Point Cloud Manager, and Asset Information Management to support various aspects of capital project management. The industrial cloud platform, CONNECT, provides secure access to a wide range of industrial SaaS tools, including artificial intelligence capabilities. By leveraging these products in conjunction with Aveva Marine Contract Risk Management, organizations can accelerate their digital transformation and drive efficiencies in project execution.