Complex Projects and Cutting Costs
- November 30, 2014
- Posted by: Hyde Park
- Categories: Innovation, Oracle Software, Solutions
Any Portfolio Project management PM will be looking at even complex projects and looking to cut costs. It might seem even less likely with construction and engineering projects but The University of Texas System Shares Best Practices for Managing Officials at the University of Texas System don’t just imagine this they’re already embracing it.
Chris Macon, manager of program control systems for the Office of Facilities Planning and Construction (OFPC) says. “We feel we are already building the world of tomorrow,” His remarks echoed the core theme of the Construction and Engineering Program at Oracle Industry Connect 2017, where his presentation was delivered. His presentation which explores how the OFPC is bringing the future to life with the help of Oracle’s Primavera P6 Enterprise Project Portfolio Management and Primavera Unifier is available on demand from Oracle.
Oracle’s technology helped them oversee a $6.2 billion capital improvement program, building modern classrooms, health care and research facilities, advanced computing labs, and other future-oriented resources. “Over the last decade, the OFPC completed about $8.6 billion in projects; Primavera Unifier and Primavera P6 were utilised in all of that,” he says.
The importance of using historical data in Project Management
In the presentation, Macon says the reports his staff produces with these Oracle applications “is one of our greatest assets” because, in addition to the latest data, the analyses can draw from 10 years of archived information for trends and historical insights. In addition, they were able to optimise funding using Oracle Primavera’s reporting and analysis capabilities.
“If we know what our funding sources are and what our cash flow is, we can predict when we will expend one source and when we need to start expending another,” he explains. “The flexibility of the system allows us to do this.” For example, Macon notes that cost reductions are possible by delaying bond purchases until they’re actually needed. If you want help with Oracle Construction and Engineering solutions to drive business transformation for your organisation HPS can help.