Due to population growth, buildings, living spaces, and other infrastructures are more required. These structures need a considerable amount of investments and capital projects. That being the case, you will need high-quality capital project management. Luckily, you can use capital project management software to help you manage them conveniently. Continue reading below for more.
15+ Capital Project Management Software
1. Oracle Primavera
2. Oracle Aconex
4. Dude Solutions Capital Forecasting
9. Aurigo Masterworks Cloud
10. Project Objects
11. ARES PRISM
14. Safran Project
16. CapEx Manager
What is Capital Project Management Software?
A capital project is an extravagant investment for structures, such as buildings, major roads, bridges, and other large structures. Its goal is to generate and develop assets to their full potential. Massive goals necessitate massive sums of money. Of course, such an amount requires high-quality management and forecasting. For this reason, experts developed capital project management software to help you record, process, manage, review, and search with a single platform. It guides you to obtain accurate statistical analysis, which assists you in improving decision-making processes. This tool aids you in collaborating with your team and discussing new strategies to budget and develop assets during project management.
Capital project assets are challenging to manage, especially with manual processes prone to overlooks and mistakes. With capital project management software on hand, you can reduce manual procedures that are inconvenient, time-consuming, pricey, and frustrating. This software helps you plan before executing the operations, leading to more polished and smooth operations.
Features and functionalities vary depending on the technology firms. Capital project management software can have standard features and distinct features a software specializes in. Features and functionalities are factors you will need to prioritize to ensure it is helpful to your operations. Several platforms may fail in meeting your expectations, so it is advisable to research the software’s capabilities first. You can test them firsthand by their free versions and trials or read pros and cons reviews. The following are recommended features by most users:
- Activity Dashboard
- Change Order Management
- Contract/License Management
- Project Planning
- Mobile Access
- Project Portfolio Management
- Gantt/Timeline View
Top 10 Capital Project Management Software
EcoSys from Hexagon includes Gantt/timeline view, cost-to-completion tracking, resource management, strategic planning, and more advanced features. Hexagon has annual revenue of $4 billion and 20, 343 employees.
2. Oracle Primavera
Oracle Primavera, developed by Oracle, includes equipment tracking, bid management, change order management, project scheduling, and more valuable features. Oracle has annual revenue of $2,147.5 million and 196,083 employees.
3. Oracle Aconex
Oracle Aconex, developed by Oracle, includes budget tracking/job costing, budgeting/forecasting, compliance management, contractor management, and more innovative features. Oracle has a yearly revenue of $2,147.5 million and a workforce of 196,083 people.
ProjectWise from Bentley Systems includes 2D drawing, agile methodologies, audio file management, client portal, and more helpful features. Bentley Systems has annual revenue of $660.5 million and 4,555 employees.
5. Dude Solutions Capital Forecasting
Dude Solutions Capital Forecasting includes asset lifecycle management, compliance management, depreciation management, and more contributive features. Dude Solutions has annual revenue of $83.8 million and 578 employees.
6. Aurigo Masterworks Cloud
Aurigo Masterworks Cloud includes estimating, change order management, subcontractor management, mobile access, and more logical features. Aurigo has annual revenue of $58.3 million and 402 employees.
Sciforma includes issue management, portfolio management, product road mapping, project planning, and more advanced features. Sciforma has annual revenue of $21 million and 145 employees.
8. ARES PRISM
ARES PRISM from ARES Project Management includes contractor management, predictive analytics, requirements management, and more valuable features. ARES Project Management has annual revenue of $9.1 million and 57 employees.
9. Project Objects
Project Objects include budget management, portfolio management, time tracking, traditional methodologies, and more innovative features. Project Objects has annual revenue of $8 million and 55 employees.
PMWeb includes accounting integration, license/contract management, equipment tracking, incident reporting, and more logical features. PMWeb has annual revenue of $5.4 million and 37 employees.
What is project management?
In the professional industry, projects are standardized. Projects require a budget, performance, and strategic planning to reach the goal of the project. That is why project management exists; it involves agility, processes, skills, knowledge, and experience to obtain successful operations. You can reduce costs and overlooks with good management, resulting in quality assurance and operational efficiency.
What is a capital project?
Cities evolve and change Since the population is increasing and the market is ever-changing. Cities change by generating infrastructures, replacing, or renovating living or business places. A capital project is a long-term, capital-intensive investment project to expand, add to, or improve a capital asset. It is a process to enhance a city for society.
Why is software beneficial in project management?
Traditional procedures are not enough to ensure you perform flawlessly. Due to technological advancements, multiple companies improve because of new solutions such as software. The software contains numerous advanced features and functionalities to help you manage and plan for cost-effective and wise procedures. With such a tool to handle the capital project, you can guarantee effective and efficient operations.
The capital project invests a considerable amount of money. It is too big a sum that needs reliable and high-quality budgeting and forecasting. Since you can’t afford overlooks and mistakes, you will need capital project management software as your technology partner. With this tool, you can obtain a clear picture of the details of your capital project operations.
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