InsideOmegaContract Management
The PIMS Contract Management module is a tool for registering, maintaining and following-up all types of project commitments such as contracts, sub-contracts, purchase orders, frame agreements and call offs. Typical data input includes: supplier information, dates, scope of work and contract types.
The Contract Management module allows a project to control contracts and associated rights and obligations. With this module, contract managers and project personnel have immediate access and visibility into contracts across the project organisation, resulting in increased revenue and improved cost savings.
The module can contain all the cost details for the contract and the split between Cost Elements and Cost Items. The Cost Elements are used to distinguish between Original Contract Value, Variation Order Requests and Variation Orders, as well as controlling the status of each of those (i.e. approved or pending).
Cost Items includes: the detailed cost information, like WBS codes, currency, cost, quantity and man-hours. This split provides full control and an audit trail of how the contract has developed since award.
Variation Orders and Variation Order Requests and other forms can be customised to fit your corporate layout and be generated directly from the system.
PIMS takes all the information provided about contracts, expected growth, and potential changes and can help produce your contract forecast. The project cost controllers can in turn use this information to update the project cost forecast by linking actual contract information with the estimated values used in the Cost Control module.
Key features
- Full contract register – including all types of contracts
- Maintain commitment and build up a contract forecast
- Use of several currencies on the same contract
- Contract milestones to track original, actual and forecast dates
- Establish and follow up time phasing of a contract
- Store files linked to each contract