Contract Risk Management Software

AVEVA's Contract Risk Management Software provides a comprehensive solution for managing contracts associated with capital projects. It is designed to facilitate efficient control and success in collaborative projects by connecting decision-makers, optimizing teamwork, and ensuring adherence to contractual obligations. This platform is particularly beneficial for Engineering, Procurement, and Construction (EPC) Prime Contractors and Owner Operators involved in industrial capital projects, focusing on managing obligations across various project phases.

Running on a secure cloud platform, it offers complete contract lifecycle management and automates processes such as receipt, review, and approval of changes, thereby supporting better decision-making, team alignment, and risk reduction. The software supports collaborative contracting and Integrated Project Delivery (IPD) strategies to maximize the return on investment.

Key Features

• Effective Change Control: Utilizes preapproved templates to initiate change requests. Configurable workflows ensure that these requests are reviewed and authorized by designated parties, allowing for effective scrutiny of unplanned changes and mitigation of associated risks.
• Enhanced Financial Control: Early warning indicators help mitigate unplanned cost overruns by focusing attention on critical situations, while automatic line-item reconciliation reduces erroneous payments and administrative workload.
• Alignment of Project Parties: Built-in best practices, claims management, and alert systems ensure greater efficiency and enhance trust and transparency among project participants.
• Mitigate Claims & Disputes: Alerts and reminders help prevent costly claims and disputes by ensuring compliance with contractual obligations and automatically documenting changes for audit trails.

Customer success stories illustrate the software’s efficacy, with Shell deploying it across multiple CAPEX projects, including the $12 billion Prelude FLNG project, achieving zero claims.