IFS Applications 10 | IFS Projects Summary/Features

IFS Projects Summary/Features 

The IFS Projects components make it easier for you to manage the complete project lifecycle. Fully integrated with other IFS components such as financials, procurement, inventory, customer orders, manufacturing, engineering, human resources, document management, and asset and service management, the solution is used by many types of businesses who use project principles to manage their business, including project-based manufacturing, engineering, construction, contracting and infrastructure, EPCI and R&D organizations.

IFS Sub-Contract Management

IFS Sub-Contract ManagementTM makes it easier for you to manage simple or complex sub-contractor activities and to support the business of sending out invitations to tender, recording responses, monitor negotiation process, and track the conversion from tender to contract. You can track progress and make valuations based on valuation methods such as progress and quantity installed. The solution has strong change management capabilities, so you can more easily manage variations to scope. You can send work instructions to your sub-contractors, receive invoices and applications from the sub-contractor, and generate valuation certificates.  The IFS Sub-Contract Management functionality can be used by any company that manages complex sales contracts with suppliers and subcontractors and finds it difficult to manage this using standard Purchasing.

IFS Contract Change Management

IFS Contract Change ManagementTM allows the user a formal process to manage change orders for existing contracts through the life of the contract. It provides full financial control with an integration to IFS Projects Budget & Forecasts. It also provides the ability to send change requests through an approval process and to see the history of changes.

IFS Project Management

IFS Project ManagementTM is a complete solution for planning and follow up of projects.  Project-oriented information can be monitored and maintained centrally through the complete project lifecycle.  IFS Project Management allows you to create projects using user-defined WBS. Templates can be used to establish business process consistency. Costs, revenue, hours and quantities can be associated with the project WBS. Progress and Earned value are supported. All costs are tracked at all levels of the WBS, including Estimate, Baseline, Latest Forecast, Committed, Earned Value, and Actual. The Projects component holds the project plan, which is then used to generate the sub-plans for other areas such as procurement, engineering, manufacturing, installation and construction.  The project code part embeds the project dimension into GL and allows for comprehensive financial management of a Project.

IFS Planning and Scheduling allows you to schedule project schedules in IFS. Gantt display options are available, and the planning logic supports dependencies and constraints. Resource planning and simulation are also supported. IFS Applications provides bi-directional integration to tools such as Microsoft Project or Primavera.

IFS Project Budgeting & Forecasting

IFS Project Budgeting & ForecastingTM provides you with comprehensive functionality to manage project cost control. User-definable project forecast types enable you to support multiple versions of project estimates, budgets, forecasts, reviews, etc. IFS Project Budgeting and Forecasting provides functionality to manage project budgets and forecasts for both cost and revenue. Multiple forecast versions plus one active budget version can be managed for each project, and it is possible to budget and forecast in different currencies. Project budgets or forecasts can be created and managed for all levels of the Work Breakdown Structure (Project, Sub Project, Activity), as well as all levels of the optional Cost Breakdown Structure (Node, Cost/Revenue Element). Snapshot functionality is provided to capture the project status at a specific date and time, thus providing a static view of the project to allow forecasting from that point onwards. The system supports Estimate to Complete (ETC) and Estimate at Complete (EAC) principles. Budgets can be controlled by cost (CBS) and work breakdown structures (WBS). Spreading rules are available, including S Curves and Straight-Line logic.

IFS Risk Management

IFS Risk ManagementTM allows you to define project risk assessments. User-definable risk templates help establish consistent working practices. Potential problems and consequences are defined, so you can manage the actions and responses required to mitigate the risk.  

IFS Project Reporting 

IFS Project ReportingTM allows you to process project cost transactions against a project including time, expenses, materials and other types of miscellaneous costs. For the project manager, it is a tool for project administration and for tracking time and costs related to project activities via follow-up functionality. The financial flows are fully supported and include cost accounting and complete invoicing features. You can also use the component as the basis for billing clients where reimbursable contracts are needed and attach price lists to projects to define the rates to be used.