With Noveco you can take full financial control of your entire project lifecycle and eliminate the need for third-party tools and Excel spreadsheets

When SAP PS is enhanced with the Noveco software add-on, it enables vital functionality that allows you to perform crucial functions directly inside SAP PS, which were not available before, including:

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With Noveco you can create estimates in SAP before projects are approved or awarded.

An estimate can be created from previous similar estimates or from a template taking the most recent prices into calculations. This allows you to respond to client tenders or calculate costs of investment projects more accurately and much faster.

Noveco’s Estimating solution is built inside SAP and is naturally integrated with SAP PS. That means you can create costs and revenue plan on project from an approved estimate automatically by drag & drop.

With the Noveco Estimating solution you can:

  • Create and maintain a library of resource packages (materials, labour, services) required to perform your routine work such as installations, maintenance, manufacturing or construction
  • Get the latest material prices and labour rates directly from SAP to keep your resource packages always up-to-date
  • Eliminate the need for syncing between SAP and Excel or other third-party systems
  • Quickly and easily create estimates in SAP using templates or other estimates
  • Create as many estimate versions as needed to simulate different scenarios
  • Use flexible formulas to calculate price escalation, surcharges, risks, contingencies and margins
  • Maintain the estimate structures different from project structures. Once estimate version is approved, transfer estimated costs and revenues to project structure by drag & drop
  • Costs and Revenue Plan is created on project in SAP PS automatically
  • Assign project numbers to the estimate version to transfer cost and revenue from the estimate to project WBS and/or Network Activities

Compare Estimated Costs vs Project Forecasts and Actuals at any time during project lifecycle. This creates a loop back to the estimating team, allowing you to analyse cost deviations and assess accuracy of estimates by comparing them with the real-life project execution

Find out more about the Cost and revenue estimating

 

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Cost forecasting is an on-going task performed regularly throughout the project lifecycle. Its main objective is to re-calculate and adjust Cost To Complete (CTC), update Estimated Cost At Completion (EAC) and profit margin for revenue projects.

With Noveco you can perform project forecasting directly within SAP PS, eliminating the use of Excel spreadsheets and any other third-party planning tools.

With Noveco’s forecasting solution you can:

  • Automatically recalculate CTC and EAC from Actual Costs and Purchasing Commitments. This eliminates the need for manual ‘replanning’ in Excel sheets
  • Run automatic forecasting as a background job for multiple projects overnight
  • Manually adjust CTC and/or EAC where required
  • Forecast recalculations take Maintenance and Production Orders into recalculations at any time
  • Cost Forecasts build a foundation for calculating Cash Flow Forecasts as well as Revenue Forecast for revenue collecting projects
  • Maintain project forecasts in a single forecast version that captures the entire forecast history as well as future forecasts
  • View the full project financial history from its beginning without a need to copy versions
  • Forecast are saved in SAP standard database and are instantly available for reporting
  • Eliminate spreadsheets, making SAP PS a single source for project and portfolio reporting in your organisations
  • Improve process efficiencies by enabling transparency, accuracy and reliability of project financial information

Find out more about the Cost & Revenue Forecasting

 

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Project Gantt Chart

A full-scale project scheduling capability using Fiori Gantt Chart is available for Noveco customers.

Noveco Gantt Chart provides the following key functionalities:

  • Graphical representation of project WBS, Networks, activities, relationships, milestones, maintenance and production orders
  • Forward and backward scheduling determining Earliest, Latest Start and Finish dates with floats
  • Reschedule maintenance and production orders by changing dates of related project WBS or network activities
  • Change start and finish dates by project sections using drag & drop on the Gantt Chart
  • Drag & drop or stretch network activities to reschedule all related project elements automatically
  • Schedule only part of the project by simply selecting project element and clicking “Schedule” button. The system uses concept top-down and left to write scheduling leaving top elements not affected.
  • See Plan and Actual POC on project chart instantly
  • Actual duration, Earliest and Latest dates
  • Set date Constrains and fixed intervals between activities
  • Automatically re-distribute project costs and work demand
  • Complete and seamless integration with project dates in SAP PS

Find out more about the Noveco Project Scheduling with Fiori Gant Chart

 

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The Noveco Project Manager Workbench provides a single integrated environment to manage your entire project lifecycle directly in SAP PS. More than just graphical reporting, the Project Manager Workbench provides a comprehensive view across the entirety of your project and enables you to maintain tight financial control from inside SAP PS.

Designed to simplify user experience and navigation in SAP PS, the Workbench provides an intuitive real-time environment where you can review KPIs, identify problem areas, update forecasts, track and update progress, execute analytical drill-down reports and more.

With the Noveco Project Manager Workbench you can:

  • Calculate, review and update project KPIs
  • Access graphical representations of project KPIs
  • Automatically recalculate Cost To Complete (CTC) and Estimated At Completion (EAC) from actual costs and commitments with automatic redistribution of non-spend values over the duration of the project
  • Carry out multi-level Cost To Complete recalculation using ‘planning level’ concept for multi-tier project structures allowing integration of work orders (SC/PM and PP) into project cost forecasting
  • Manually adjust cost and work to complete on Network Activity or WBS element where it is needed
  • Distribute (by periods) project budgets, Cost To Complete, purchasing commitments, revenues with immediate graphical representation
  • Access drill-down reports to underlying source documents directly from SAP (purchase orders, time sheets, order confirmations, good receipts, invoices etc.)
  • Review and update project progress
  • Forecasting of costs and revenues provide basis for forecasting of project Cash Flow In and Out
  • Perform period-sensitive cost forecasting using planning period, designed for month-end processes (instantly and automatically integrated with Project Result Analysis or Project Revenue Recognition in SAP PS)
  • Automatic recording of project budget, revenue and forecast historical values (without the need to version copy), so you can compare project changes over its lifecycle
  • View complete project financial history
  • Track project forecast and budget changes via change log
  • Instantly integrate cost forecasts with Resource Planning cockpit
  • Integrate project variations, threats and opportunities into calculation and simulations of project budgets, revenue and cost forecasts (EAC and CTC)
  • Save all project financial information in SAP standard PS Info System for operational, dashboard, analytical or consolidated reporting in SAP PS, BW, BO or any other reporting tools that are integrated with SAP

 

sap project systems

Find out more about the Project Manager Workbench

 

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Noveco’s Project Variations solution enables you to manage project variations from within SAP PS and integrate variations with your project financials (cost budget, forecasts and revenues).

You can manage your variations from a single screen in the Variation Manager Workbench. You’ll have a complete view of all variations including automatic real-time project updates from variations status changes.

With the Noveco variations management solution you will be able to:

  • Record all project variation details, costs, revenue, profit, attach reference documents and type notes as text
  • Plan costs and revenues within one variation document
  • Assign variation cost and revenue items to multiple project WBS elements or network activities
  • Control variations status (e.g. pending, approved) with automatic cost allocation to assigned project elements (e.g. WBS, network activities).
  • On status ‘Approved’ it will automatically update
    • project forecast costs, budgets and revenues
    • existing sales order items or create new sales order item with the variation revenue value
  • Track project history changes to Budget, EAC and Revenue recorded with reference to variation number
  • Fully integrate your variations management with project reporting

Find out more about the Variations Management

 

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Noveco enables comprehensive project reporting in real-time directly within SAP PS. Noveco delivers its own reports, which can be customised and configured to suit your business or individual requirements.

You will access these reports via the Project Portal with a personalised list of projects that you are responsible for.

Noveco Project Portal presents real-time and the most up-to-date information on your projects read directly from the SAP PS info system.

The reported information is calculated and saved in SAP by Noveco Project Manager Workbench.

You need no Excel sheets, no Business Warehouse or Business Objects.

Noveco’s reporting functionality includes:

  • Full graphical reporting of project and portfolio KPIs (you can select from about 20 different KPI graphs)
  • Comprehensive reporting with overviews of project budgets, estimates, forecasts to complete, revenues, final forecast cost, cash in and out, purchasing commitments, progress percent of completion, earned values, cost and revenue variations and more
  • Drill-down reports to source documents (e.g. actual costs, purchase orders, goods receipts, service entry, confirmations and more)
  • Tracking of full project or portfolio history of changes including project budgets, estimate at completion, revenues and profits. This way you can analyse historical trends from beginning of a single project or entire portfolio
  • View of how portfolio or project has evolved over time
  • Project variations and budget changes per period, quarter or year for comparison
  • Cash flow reporting (actual cash spent or received and future cash flow forecasts)
  • Original project estimation vs project actual costs and project forecast at completion
  • Progress Analysis, Earned Values, Schedule Variance per project and portfolio
  • Reviews of budget, cost to complete, and estimated cost at completion by value categories and period
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Noveco’s risk management solution is built on our variation management functionality. Variations are broken down to profit-based and budget-based risk. All variations are considered risks but are further divided into threats and opportunities.

Threats are:

  • New variations created with the new variation type: Risk – Threat
  • With revenue: all variations with status ‘Pending’ (non-approved) where profit is negative
  • No revenue: all variations with status ‘Pending’ (non-approved) where Forecast Expected Value > Budget Expected Value

Opportunities are:

  • New variations created with the new variation type: Risk – Opportunity
  • With revenue: all variations with status ‘Pending’ (non-approved) where profit is positive
  • No revenue: all variations with status ‘Pending’ (non-approved) where Budget Expected Value > Forecast Expected value

The Risk Management solution enables you to carry out risk analysis in the Project Manager Workbench. Analysis includes:

  • Profit / budget-based scenario analysis
  • Profit / budget-based scenario impact on KPI
  • Risk impact on project timeline

Calculate, simulate and compare project KPIs – budget, forecast at completion, revenue, profitability and budget deficit on different scenarios:

  • Pessimistic
  • Optimistic
  • Weighted
  • Expected

Find out more about the Risk Management

 

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Plan individual resources across projects and work centres directly in SAP PS. Integrate your resource and capacity planning with Project Forecast and HR.

Noveco Resource Management and Capacity Planning enables you to:

  • Plan resources (high-skilled professionals) across your projects using our easy and intuitive User Interface with powerful graphical representation
  • Project cost plan and forecasts create the basis for project resource demand. This way you can view project demand based on the most recent forecast of work required
  • Estimate / forecast required hours of a specific resource type on network activities or WBS elements
  • Personnel assigned to project Work Centers create the basis for resource supply
  • Determines personnel availability by reading HR work schedule
  • Drag and drop allocation of person to project WBS or network activity
  • Perform cross-company resource allocation
  • Review how resources have been used in past periods with graphs and charts (compare allocated hours vs actual hours or available hours vs actual hours)
  • View hourly cost rate used to plan work on project and persons cost rate of each that will be used to charge actual costs to project
  • Drill down to approved time sheets
  • Integrate to CATS (cross application time sheet) work list from Noveco Resource Allocation

Find out more about the Resource Planning

 

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Directly Into SAP ECC Or S4 HANA-No Interfaces, No Middle, Always Real-time

 

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