Wednesday Jan 28, 2015

Maximize Lead-to-Contract Performance

Written By Garrett Harley

How much does it cost you to find new projects?

 The engineering and construction industry wastes millions of dollars just seeking new work. On average, companies only win one out of every four jobs they pursue, squandering resources and limiting growth potential. That means a $10 billion company wastes $75 million annually on failed bids.

 In a typical engineering and construction organization, rarely do the teams that prepare the estimates for project bids and the teams that deliver those projects share information. Many geographically distributed companies allow each operating group in the company to bid on projects autonomously—loosing the opportunity to cross-sell services. The lack of collaboration at the very beginning of a project can lead to errors and omissions during project execution, which impacts margins and can lead to future claims.

 With the introduction of Oracle’s Primavera Project Bid and Execution, Oracle is breaking new ground in this key area. This new solution transforms the process, enabling organizations to improve their approach to new business development. Maximizing lead-to-contract performance improves customer connections, increases win rates, reduces the cost of bidding, manages risk, and builds a balanced portfolio of profitable work.

 A formalized approach to bid pursuit will help firms realize opportunities, better use resources and manage risks, which leads to better data assurance, increased business confidence, and higher win rates.

For more information on Oracle’s Primavera Project Bid and Execution, watch the Webcast: Transforming Construction Project Execution.

Friday Feb 07, 2014

University of Utah Uses Oracle’s Primavera Unifier to Save US$11.5 Million in Budgeted Construction Project Costs

Maintaining and constructing new facilities to support a modern education and research institution requires a commitment to continuous improvements and tight management of complex project portfolios. So to improve project visibility and implement better financial controls for capital projects totaling US$900 million, the University of Utah in Salt Lake City replaced its in-house database for tracking construction projects with the cloud-based Oracle’s Primavera Unifier project management system. The result: the university recently completed two large-scale projects on or before their deadlines at a total of US$11.5 million under budget. Paul Bender, Oracle’s director of public administration strategy, explains how the university achieved these impressive outcomes. University of Utah Uses Oracle's Prrimavera Unifier

Q: One of the projects was the 156,000 square foot Huntsman Cancer Center Phase IIB expansion. What was the impact on that project of having improved financial controls and better collaboration?
A: That project came in two months early and US$9 million under budget. The university attributes a good portion of the savings in time and cost to the project management system. The solution helped school officials reduce the number of electronic RFIs required. It also shortened workflow response times among project team members from a previous maximum of eight weeks to a few hours. In addition, officials benefitted from the elimination of a significant volume of paperwork. The system also helped external partners, including more than 90 consultants and contractors, collaborate more effectively through access to the system for day-to-day project management.

Read the full Q&A here and discover how organizations using Primavera Unifier have the tools necessary to maintain fiscal discipline in day-to-day activities.

Read a complete case study of the University of Utah in Salt Lake City on page six of Construction Connection and download an in-depth white paper about Oracle’s Primavera Unifier.

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