Business Benefits with Noveco
Noveco Project Cost Forecasting, Progress and Variation Management
- Project Manager Workbench provides one central place to review KPIs, update forecasts, track and update progress, execute analytical and drill down reports
- Complete Cost and Work To Complete management: Automatic reduction and Manual adjustment
- Instant Integration with SAP transactions: Purchase Orders, time sheets, invoices, billing etc.
- Forecasting results are immediately available for Result Analysis, Progress Analysis, SAP PS Reports and BI (no custom interfaces needed to native SAP reports)
- Period Sensitive Forecasts: designed for month end forecasts in live transactional system
- Saves project forecast history w/o need to perform version copy by the user
- Project Costs Forecasts integrated with PM/CS and PP orders
- Integrates Project Variations into cost forecasting and budgeting
- No modifications to SAP standard core applications. No “z-tables” to keep forecasts costs, all data read/written from/to SAP standard database.
Business Value of Integrated Project Forecasting in SAP PS
- Connects upstream (estimating, procurement, timesheets) and downstream (monitoring, resource allocation, analytical reports) activities of project management lifecycle
- Closes the loop between execution and analysis processes providing 360 degree flow of information
- Replaces spreadsheets and other third party tools with centralized SAP database
- Reduces amount of effort required to produce project forecasts and analytical reports
- Reduces number of interdependent systems and interfaces needed; reduce costs of maintenance and support of systems other then SAP
- Decreases potential for errors of data entry and manipulation
- Improves quality, transparency and accuracy of data
- Allows potential savings and process efficiency by relieving Project Managers from performing routine transactional and administrative activities.
- Integrates Resource (personnel) Planning into project planning and forecasting
- Determine realistic project progress
- Unleashes the true power of integrated SAP PS system