Management Software May Help Reduce Project Cost Overruns

To address the needs of industries with frequent project cost and schedule overruns, Management Controls Inc. has expanded features and functionality for its flagship solution Track. The solution is designed to provide refineries, other large process industry manufacturers and their contractors with daily cost transparency, control and accuracy in managing costs and timely payment processes for complex, contractor-intensive projects.  

By fully automating these processes, Track software version 6.1 can enable owner/contractor teams to keep projects on time and on budget. It also is designed to help ensure contract compliance and timely payments.

Management Controls also launched Track Administrative and Business Services. The new service offers Track-certified project support services during peak workloads, such as turnarounds, and capital projects. Track software can provide visibility into actual hours worked and alerts project teams to cost overruns before they get out of hand. 

The solution is designed to eliminate the need for contractors to complete paper-based timesheets and electronically generates invoices based on accurate hours and contract-specific terms, conditions and rates.