HD Project Performance gives owners, EPCMs, and contractors real-time project status. Quickly apply corrective actions to keep projects on time and within budget.
- Measure current completion against the budget estimate, actuals
- Forecast completion at the project and/or activity level
- Calculate earned value daily
Read HD Project Performance highlights by role:
Owner | Contractor | EPCM
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Control Budgets
View and manage three sets of budget and planning data – original budget, current budget, and current estimate – with multiple ways to calculate and view variances compared to actuals.
Measure Progress to Plan
HD Project Performance is much more than project tracking software. Centralize progress measurement information that leverages budget activities to calculate % complete, budgeted cost of work scheduled (BCWS), earned value (EV), actual cost of work performed (ACWP), cost variance, estimate at completion (EAC), and forecast variance values against budget values.
Calculate Earned Completion: Quantity and % Complete
Track planned quantities, man-hours, and equipment hours against actual quantities, man-hours, and equipment hours complete. Quantities can auto-calculate percent complete or percent complete can be entered directly. Integration with scheduling drives percent complete, keeping progress and the schedule in sync while providing visibility across the enterprise.
Commitments
The Commitments feature allows you to track how much of your current budget has been committed for expenditure to a particular company. The committed amount can be tracked separately from the budgeted amount. It enables an owner to answer these important questions:
- What is the total value of our commitments to date on this project? i.e., If we were to cancel the project today, how much would we be on the hook for as the owner?
- How does the committed amount for a specific scope of work compare to what we had budgeted for that work? If we committed less than we had budgeted, that money can possibly be spent elsewhere.
- How do the as-built costs for a particular contractor compare to the amount we committed to them? Are they billing us more than we committed to them?
Achieve Project Cost Reconciliation with ERP Systems
Compare calculated accrued actuals from work performed with ERP accounting accruals and actuals. Reconcile project progress with ERP systems to identify missing invoices or misaligned reports from the field. Simplify project reconciliation with work performed vs. work cost status to proactively identify project cost and productivity discrepancies.
Reconcile Planned Quantities
View planned vs. actual quantities to compare and reconcile accounting quantities reported. Calculate planned vs. actual progress at the activity or project level. Calculate estimated quantities, based on costs incurred.
Report Earned Value
Calculate project finance costs, quantities, materials, man-hours, equipment hours, and % complete calculate estimated actual costs. Earned value results from work performed from duration of effort, producing an estimated earn cost to compare to actuals.
Rational Forecasting
Select the best forecast method to use for each item, depending on its progress and other criteria. Enter manual forecasts with a required explanation and a full audit trail. Base forecasts on performance trends and averages to date, with ability to apply improvement factors. Drive forecasts from bottom-up estimates developed using the full estimating toolset.
Measure Contract Changes
The budget / contract changes register provides a mechanism for effectively tracking and managing all budget and contract changes, including budget moves and contingency draw downs, with a full audit trail of changes once the original budget has been established for a project.
Pay Requests by Period
Calculate earned revenues or progress payments for any time period using sophisticated earnings rules, with ability to manage holdbacks and disputed amounts.
Collect Timesheets
Create timesheet standards to eliminate double entry, reducing data input time while improving owner/contractor collaboration. Receive man-hours, equipment hours, progress quantities, actual costs, and notes directly from the field. Timesheets can be collected through HD Project Performance or outside systems including AboutTime, ERP, or Excel.
On top of quantitative data, timesheets can record notes for each activity including assumptions, jobsite observations, and more. Increase communication and provide additional information that enables field operators to prevent staging and other issues.
Approve and Manage Collected Time
Manage and approve collected time by job code, foreman, status, period, and other variables. Time can be approved and selectively published to update progress activities. Collected time can be calculated against the budget plan to calculate productivity, providing immediate insight into production and forecast completion.
Forecast by Performance
Forecast projects and activities by actual production performance daily, weekly, or monthly. Calculate and update forecasts from planned quantities, planned man-hours, equipment hours, against actual earned quantities or percent complete.
Recalculate forecast completion by average production for an item, latest as-built, or original planned forecast.
Request a Demo
Share your business needs with us and we’ll give you a live demo tailored to your company. Fill out the short form to schedule your free customized HD Project Performance demo today.
- Manage time, scope, and cost!
- Learn how to reduce project costs by 15%!
