With evolving government standards and securities laws increasing pressure to adopt stringent cost and earned-value standards, many organizations today recognize the need to incorporate comprehensive cost management and earned-value analysis capabilities into their project portfolio management systems.
Earned value, a critical dimension of the execution of large and complex projects, provides an integrated view of progress that encompasses cost, scope, and schedule, enabling deeper project analysis and more intelligent decision-making.
The earned value management (EVM) methodology entails comparing the amount and cost of what was planned to be completed against what work has actually been completed, and how much that work has cost. Such a comparison enables greater precision in forecasting the final cost of the project and whether it will be completed on, behind, or ahead of schedule.
New enhancements to Oracle’s Primavera Unifier enable users to perform EVM to better analyze the progress and performance of projects. The new Primavera Unifier EVM capability allows users to leverage data from Primavera P6 Enterprise Project Portfolio Management to:
Import multiple projects from Primavera P6 EPPM into a single Primavera Unifier project activity sheet, creating a consolidated view of the costs and earned value. The new EVM capability in Primavera Unifier incorporates resource spreads and progress information from the Primavera P6 EPPM schedule data.
Create rate sheets by resource and role with escalating rates. Rate sheets can also be created at a company or project level and be assigned to a mirror of the Primavera P6 EPPM projects within Primavera Unifier through the activity sheets. This allows different rates to be assigned to each P6 project and even to the P6 project baselines.
Pull data from the activity sheet into the EVM module, which will display industry standard graphics in addition to various critical project metrics, including historical trending.
“Earned value management is an increasingly important project delivery process that enables organizations to understand key dimensions of project progress and performance. The data that the new EVM capability in Oracle’s Primavera Unifier yields will enable project delivery professionals to improve outcomes through better visibility and smarter decision making,” said Andy Verone, Vice President of Strategy for Oracle Construction and Engineering.
For more information about these new enhancements to Oracle’s Primavera Unifier, register to attend a webinar on EVM and Oracle.