A large Canadian Engineering, Procurement and Construction joint venture (EPC) has awarded Decision Dynamics (DD) a $1 million contract for the deployment of its ‘Oncore’ software for project tracking and cost control of its Fort McMurray, Alberta oil sands development.
Oncore automates invoice generation from contract terms, streamlines validation and provides visibility of real time, line-by-line spend to managers. Oncore will also track progress of major reimbursable contracts during the construction phase.
DD president Justin Zinke said, ‘Oncore will add value by reducing the effort of managing the complex reimbursable contracts involved on this project. By eliminating manual calculations and providing real-time visibility of project costs across multiple contractors, Oncore provides tight financial control at every stage of construction. This contract continues our expansion in the oil sands industry and demonstrates Oncore’s value to mega-projects in the construction and services segments.’
Oncore, formerly known as Time Industrial, tracks labor, equipment, materials and other costs for capital and operations/maintenance projects by line item and provides robust analytics for contractor performance monitoring (OITJ June 06).
© Oil IT Journal - all rights reserved.