Noveco Project Estimation & Financials
Enhanced Project Estimation, Progress and Financial Control
Noveco Project Estimation and Financials
The Noveco Estimation Solution enhances SAP’s standard Project System (PS) functionality. It allows for estimation and reporting dashboards directly into SAP ECC without the need for any other third-party software.
The solution is ideal for anyone who has a need for project estimation functionality – whether SAP PS has been implemented already, or not.
Key Features of the Noveco Estimation Solution:
An estimation structure can be built independently of the project work breakdown structure, and project forecasts can be based on both the estimated and actual costs. The cost plan is built using the most current SAP cost prices on materials, labour, and plant rates. This means that estimates can be created from existing estimates and/or templates and/or work packages.
Flexible formulas can be defined to change estimated costs (e.g. escalations, risks, etc.) by adding a percentage or values on top of the planned costs. Costs, revenues, and quantities can be transferred to a project as a cost and revenue plan with full costing line items details hence no manual re-entering of cost on a project.
With Noveco Estimation Solution, reporting is available from the estimate structure as well as the work breakdown structure.
The Noveco ePM complements and enhances SAP’s standard Project System (PS) functionality through easy project planning, forecasting, variation management and reporting directly into SAP ECC. There is no need for any other third-party software.
Key Features of Noveco Project Financials and Progress Control:
Project Managers have access to a single source where they can monitor, update and report on projects. It also allows users to create a project plan or initial cost estimate directly into SAP PS. Easy management through monthly forecasts without any dependence on Excel spreadsheets, means seamless management of project variations and the integration of them with budgeting, revenue and cost forecasts.
Comprehensive reports can easily be produced out of SAP standard PS and there is no requirement for additional costly third-party tools. The information is transparent and consistent, and it provides standardized project delivery methodologies with project governance ensured.