Product tour—Project and portfolio management

Maximize capital budgets using both project and portfolio management

To maximize capital budgets, owners need to optimize their overall portfolio and every project within that portfolio.

  • Plan

    Align projects to organizational goals

    • Standard project selection processes
    • Leverage past and present project data to inform decisions
  • Build

    Ensure successful project execution

    • Consistent systems and processes
    • Assurance over data ownership and full and consistent project records
  • Operate

    Enable timely operational readiness and efficient operations & maintenance

    • Projects closed out completely and on-time
    • Hnadover of consistent and full project records to support operations and maintenance

Project and portfolio management

Owners maximize capital budgets by effectively managing their portfolios from project prioritization and budgeting, through project execution, and throughout operations and maintenance.

The project and portfolio solution that owners use and specify can help assure success throughout the project and asset lifecycle.

In the planning phase, align projects to organizational goals and leverage relevant past and current project data to select projects and develop their budgets.

Project prioritization and selection

Project prioritization and selection Implementing enterprisewide processes and systems helps ensure consistency across the entire capital portfolio. Access to current and past project data informs decisions and aligns capital projects and programs to organizational goals.

Once a project is selected and budgeted, companywide standards and flexible system templates get your project and team up and running quickly.

Create templates at the organization or division level, then customize them to meet project-specific needs.

Efficient project setup and execution

Once a project has been selected, approved, and funded, owners benefit from having all contractors across their projects using a consistent information and process management system. Flexible companywide templates help teams hit the ground running, support project-to-project learning, and allow team members to move from project to project more efficiently.

Throughout project execution, bring together cross-organizational teams with easily configurable drag-and-drop workflows to manage all project and program review cycles.

Cross-organization collaboration

Most project teams consist of many different organizations. Efficient communication and collaboration across these organizations is critical to project success. Oracle Aconex provides equal secure access to each party, driving trust and adoption and supporting the development of a complete project record.

The easy-to-use cross-organization workflows can be customized to meet all review cycle needs, reducing approval delays and helping to keep project execution on track.

Metadata-based search functionality lets team members quickly find what they need with the confidence that it’s the correct version.

Effective data management

Projects generate a huge amount of data, which if managed effectively, can be the project's and owner's greatest asset.

The Oracle Aconex metadata-based data management and search functionality lets you tag files to multiple categories, helping you find what you need quickly and easily. The version control capabilities help you avoid version errors, including duplication, enabling you to find the right version of the right document or drawing.

The Oracle Aconex data ownership model ensures each organization owns their own data and helps protect the owner from data loss.

Being able to access the rich model data benefits the entire project team, including the owner.

Model management

Project data includes the rich details from the building information models. With Oracle Aconex model management, all parties can access and interact with the model without requiring authoring software.

Expanding access to the model beyond the design team provides greater visibility across the owner organization and can reduce owner-initiated changes and inform decisions throughout the asset’s life.

When various contractors use different solutions to manage your projects, you end up with inconsistent project data, which hinders project-to-project learning and leaves you without consistent data to support operations and maintenance.

When all your projects use the same solution, you have consistent data in consistent formats to support project-to-project learning, improve the accuracy of portfolio reporting, and help ensure data consistency for the handover to operations.

Visibility into project and portfolio health

Owner organizations face the challenge of operating on multiple levels—high-level portfolio planning and management and focused project execution. Both are critical to maximizing capital budgets.

Although related, portfolio management and project management have different requirements, and owners need processes and tools to support each.

Enterprisewide portfolio-level management tracks corporate agreements, controls the schedule of values against cost processes, aligns budgets to commits to actuals, and provides cash flow visibility across your portfolio.

Enterprisewide cost and contract management

At the portfolio level, owners need to have consistent visibility across all projects to track planned budgets against actuals and feed that information back into the planning process, adjust forecasts, release contingency, and leverage companywide contracting.

Primavera Unifier Essentials provides this visibility, leveraging prebuilt reports using Oracle Analytics Publisher—the same technology used by leading ERP systems—to reduce risk across the entire portfolio.

A centralized cross-project risk register increases assurance and control by providing access to all relevant team members. Receive proactive alerts so you can act before your project is impacted. Quantify risk and track by date so you can release funds as risk windows close.

A holistic view of risk

Primavera Unifier, an enterprisewide capital program management and project controls solution, provides cross-project risk management. Broad access to the risk register enables more risks to be captured, quantified, and learned from to benefit future projects.

This automated tracking allows contingency to be released and reallocated in a timely manner once a risk window has closed.

Use consistent lessons learned business processes to capture data and continuously improve from project to project.

Use preconfigured, flexible templates to get your projects up and running quickly and efficiently.

Project-to-project improvement

By standardizing on project and portfolio management solutions, owners can use lessons learned to continuously improve processes and use flexible templates to jump-start project setup while implementing lessons from past projects.

Maximize your capital budget using project- and portfolio-level management.

Owners can’t truly maximize their capital budgets without having cross-project oversight and control and assurance over each project.

  • Increase alignment between project selection and organizational goals
  • Improve cross-organization collaboration
  • Assure data access and ownership to create a full project record

Project and portfolio management

Project and portfolio management require different yet complementary capabilities. By adopting solutions in Oracle Smart Construction Platform, owners can gain the functionality they and their project teams need to maximize capital budgets across their portfolios.

Learn more about Oracle project and portfolio management solutions

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