Best Capital Project Management Software

Axxerion’s capital project management module helps you streamline your projects, including construction projects, asset updates, property purchases, and more. We offer you a single integrated platform for project communication, resource planning, task execution and financials. 

Document Management

All project documents are stored in a central secure location. Team members can search, view and download documents via internet and always have access to the latest versions. Define access permissions, keep track of revisions, setup notifications and use approval workflows.

Issue Tracking

Create a hierarchy of tasks with projected start time, end time, run time and allocated resources. Define dependencies between tasks and adjust the planning in an interactive Gantt chart. One or more team members, each with a special billing rate, can be assigned as resources to a task.

Timesheets

Team members can submit daily or weekly time sheets against each of the project tasks. After approval by the project manager or line manager, the actual hours, expenses and revenues are updated. The estimated revenue and expenses are calculated based on spent time versus percentage completed.

Planning & Scheduling

Create a hierarchy of tasks with projected start time, end time, run time and allocated resources. Define dependencies between tasks and adjust the planning in an interactive Gantt chart. One or more team members, each with a special billing rate, can be assigned as resources to a task.

Budgeting

Define a budget with revenue and expenses for a project. For each item in the budget, review the budgeted amount, the amount already committed and the actual invoiced amount. The committed and actual amounts are updated from approved purchase orders, work orders and invoices.

CMMS | IWMS | CLM

Financials & Invoicing

Automatically generate outgoing invoices for multiple projects. Invoice amounts can be based on a combination of factors such as fixed price agreements, percentage completed and time spent. Post the invoices to a general ledger and create credit payment batches for banking systems.

AXXERION FOUNDATION

As your organization evolves, Axxerion evolves with you

Easy to Use and Highly Configurable:

Work with your own terminology, easily remove unwanted fields or steps or add new ones when needed. Define your own business processes.

Comprehensive Security:

Role based logins to accommodate different types of users and contractors and their access rights.

Global Search Capability:

Easily and instantly search and find any facility information in the database.

Automatic Review and Approvals:

Easily and graphically define workflow and approval processes for any item in the system.

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Frequently Asked Questions about Capital Project Management

Here are the most common questions asked about Capital Project Management:

What is Capital Project Management?

Capital project management encompasses the entire management process of capital projects. A capital project is a project that centers around building or maintaining capital assets, such as properties, machinery, technology, manufacturing plants, and infrastructure.

Capital projects are costly, often long-term, and involve considerable budgeting, planning, collaboration and resources. However, they are very important because capital assets generate great value for an organization over a long period of time.

What is a Capital Expenditure (CapEx)?

Capital expenditure, often referred to as CapEx, are expenses paid for by an organization in order to carry out capital projects that help them acquire, maintain or update their capital assets.

For example, replacing the roof on a building or purchasing a new piece of machinery are both considered capital expenditures.

Which industries use capital project management?

Capital project management is used by many different types of companies and organizations. Two common industries that rely on capital project management include construction management and infrastructure management. Capital project management is also heavily employed in the manufacturing, industrial, and retail industries.

What is Capital Project Management Software?

Capital Project Management Software helps organizations carry out the planning, budgeting, and tracking of all activities involved in capital projects. It is a one-stop-shop platform for resource planning, project collaboration, work order management, and capital finances and accounting.

It also serves as a central repository for all project-related information, documents, blueprints, images, and contracts.

What are the benefits of using Capital Project Management Software?

Managing capital projects properly and thoroughly with Capital Project Management Software results in reduced costs, increased efficiency, and greater visibility across your organization’s entire operations.

Being able to automate, streamline and track all tasks, staff members and details involved with a project minimizes risks and increases accuracy. Connecting different project team members with each other, from head executives to external contractors, within one platform ensures successful collaboration and communication.

Capital Project Management Software also has mobile capabilities, which means that users can work on their projects on the go. And lastly, the ability to integrate the platform with hundreds of different technologies and software means that you can configure the software to your business’ unique needs.

How can Capital Project Management Software help with document management?

Document management is easy with Axxerion’s Capital Project Management Software. You can import and store any type of document related to your projects in one central database. Easily search for documents based on your own terms through different tiers, folders and hierarchies.

By storing all of your documents in the cloud, your team members will have access no matter their department, location or team. However, you can also modify access rights so that only the appropriate team members are accessing each document.

How can Capital Project Management Software help with contract management?

Axxerion’s Capital Project Management Software has built-in contract lifecycle management capabilities, which allows you to create, execute, track and report on all types of contracts. This can include contracts, subcontracts, purchase orders, bids, purchases and more. Attach all other related documents to each contract for easy reference.

Track and update all changes on contracts directly within the system. Integrations with eSignature applications like DocuSign further streamline the process. Once contracts are signed, use your system to stay on top of compliance, renewals and invoicing.

How can Capital Project Management Software help with bid and vendor management?

Working with third-party vendors and contractors is an inevitable part of capital project management. Axxerion’s Capital Project Management Software enables users to store information on service providers and vendors including proof of insurance and contracts. On our platform, you can also solicit bids from vendors, award work, create purchase orders, track service, and follow through with invoicing and payment at the end of the procurement process.

Our software allows you to easily create comprehensive bid solicitations, and send them in large quantities through automated distribution services. You can then compare all submitted bids in an organized dashboard alongside your budget information for a painless evaluation process. After picking a winning bid, you can efficiently create a subcontract without having to re-enter information.

How can Capital Project Management Software help with finances and accounting?

Capital project management requires being on top of many different accounting and financial matters. This includes financial planning and budgeting, invoicing and payments, financial analysis and more.

Axxerion’s Capital Project Management Software helps you create and revise budgets, perform job-cost accounting, carry out subcontract payments, conduct financial forecasting, and do schedule-of-value (SOV) billing.

You can also integrate other accounting platforms with Axxerion, such as QuickBooks and Sage, in order to better streamline all of your capital project management financial processes.