About Aveva Contract Risk Management
Aveva Contract Risk Management is a risk management software from Aveva that provides tools for tracking and managing contract risks. It includes features such as automated alerts, document management, and risk assessment so organizations can effectively mitigate potential issues. The software allows users to monitor contract compliance and assess risk exposure in real-time. It supports collaboration among team members to ensure that all stakeholders are informed and can contribute to risk management processes. Key capabilities: automated alerts document management risk assessment compliance tracking stakeholder collaboration Best for: legal and compliance teams that need to manage contractual risks effectively.
Aveva Contract Risk Management by Aveva is a robust contract management solution that focuses on mitigating risks associated with contract execution, enabling organizations to proactively manage contractual obligations and compliance. Designed with both risk management and operational efficiency in mind, the software’s primary purpose is to identify, assess, and monitor risk factors throughout the contract lifecycle. Key features include contract risk assessment, automated alerts for potential breaches or non-compliance issues, configurable risk matrices, and detailed audit trails, all aimed at empowering legal and procurement teams with the insight needed to make informed decisions. The user interface of Aveva Contract Risk Management is modern and well-organized, contributing significantly to its ease of use. Users are greeted with a dashboard that provides an at-a-glance view of key risk indicators, pending reviews, and critical contract milestones. The layout is intuitive, featuring clearly labeled menus, context-sensitive tooltips, and dynamic visual charts that succinctly represent risk levels and trends. Navigation is streamlined by grouping functions into logical modules such as risk assessment, contract repository, and analytics.
Pros & Cons
- Improves control over changes, finances, and contractual obligations throughout the project lifecycle.
- Proactively identifies and helps mitigate risks of cost/schedule overruns and potential claims.
- Fosters better communication, trust, and transparency among all project parties.
- Automates workflows for change requests and payment applications, increasing efficiency.
- Implementing and configuring the software for specific project needs might be complex.
- Users may require training to effectively utilize all features and functionalities.
- .
- Reliance on the CONNECT platform for access and potential internet connectivity issues.
Features
Key features
Allows users to initiate change requests using pre-approved templates and manage their routing through configurable workflows. This helps in identifying the impacts of unplanned changes early, enabling scrutiny to mitigate risks of cost and schedule overruns and potential claims.
Provides early warning indicators for critical situations to reduce unplanned cost overruns. It also features automatic line-item reconciliation to prevent erroneous payments and reduce the need for numerous contract administrators for processing payments.
Facilitates greater efficiency and strengthens trust and transparency among project stakeholders through built-in best practices, claims management features, and an attentive alert system.
Helps avoid costly claims and disputes by using alerts and reminders to ensure contractual obligations are met. It automatically documents change requests and approvals, creating a robust and accessible audit trail.
Supports collaborative contracting and Integrated Project Delivery (IPD) strategies by fostering alignment and automation.
Goes beyond standard tender and supplier management to offer management of the entire contract lifecycle, enabling better decision-making and team alignment.
Available on AVEVA's secure cloud platform, CONNECT, ensuring accessibility and security.
Specifically designed to manage the unique contracting needs of industrial capital projects.
Can be used to manage contracts on individual projects or across an entire enterprise.
Can be deployed as part of a Unified Project Execution approach to maximize return on capital investment.
Additional features
Standardized templates ensure consistency and completeness when submitting change requests.
Allows customization of the routing process for change requests to specific individuals or teams for review and authorization.
Helps in understanding the potential consequences of changes on cost, schedule, and contractual obligations.
Flags critical situations proactively, allowing for timely intervention to prevent cost overruns.
Automatically matches payment applications with contract terms and progress, reducing errors and the workload of contract administrators.
Incorporates industry best practices for managing potential claims effectively.
Provides timely notifications and reminders to relevant parties about important contractual obligations and deadlines.
Creates a comprehensive and auditable record of all changes and their corresponding approvals.
Provides a clear and easily accessible history of all contract-related activities, including changes and approvals.
Facilitates a more integrated and cooperative approach to project execution.
Enables the implementation of IPD methodologies, which emphasize collaboration and shared risk/reward among project participants.
Covers all stages of a contract, from initiation to close-out.
Hosted on AVEVA's secure cloud infrastructure, ensuring data protection and accessibility.
Addresses the specific needs and challenges faced by Engineering, Procurement, and Construction prime contractors.
Caters to the contractual risk management requirements of owner organizations involved in capital projects.
Can be utilized throughout the entire lifecycle of a capital project.
Can be implemented across multiple projects and business units within an organization.
Integrates with other AVEVA solutions to provide a holistic view of project execution.
By effectively managing contractual risks, the software contributes to better project outcomes and improved financial returns.
Pricing
Countries & Languages
Interface languages
Billing currencies
No reviews yet
Be the first to drop a review
Alternatives to Aveva Contract Risk Management
Definely Draft
Definely Draft is a drafting software from Definely that supports all stages of active drafting.…
Velocious Supplier Portal
Velocious Supplier Portal is a cloud-based software from Velocious that supports supplier management and communication.…
Accept360
An AI-native contract lifecycle management platform that digitizes and structures contracts to automate workflows, ensure…
Spot something wrong or outdated?
Suggest a correction — a reviewer verifies every change.
About Aveva Contract Risk Management
Aveva Contract Risk Management is a risk management software from Aveva that provides tools for tracking and managing contract risks. It includes features such as automated alerts, document management, and risk assessment so organizations can effectively mitigate potential issues. The software allows users to monitor contract compliance and assess risk exposure in real-time. It supports collaboration among team members to ensure that all stakeholders are informed and can contribute to risk management processes. Key capabilities: automated alerts document management risk assessment compliance tracking stakeholder collaboration Best for: legal and compliance teams that need to manage contractual risks effectively.
Aveva Contract Risk Management Details
Aveva Contract Risk Management's In-App Market Place
Does Aveva Contract Risk Management have an in-app market place?
Yes
How many Mini-Apps in the marketplace?
1
Mini Apps
N/A
Pricing Options
Accepted Payment Currencies
USD ($), EUR (€), GBP (£), AUD (A$), CAD (C$), JPY (¥)
Pros & Cons
- Improves control over changes, finances, and contractual obligations throughout the project lifecycle.
- Proactively identifies and helps mitigate risks of cost/schedule overruns and potential claims.
- Fosters better communication, trust, and transparency among all project parties.
- Automates workflows for change requests and payment applications, increasing efficiency.
- Implementing and configuring the software for specific project needs might be complex.
- Users may require training to effectively utilize all features and functionalities.
- .
- Reliance on the CONNECT platform for access and potential internet connectivity issues.
Aveva Contract Risk Management's Support Options
Email Address
careers@aveva.comContact
+44 1233 556655Documentation
https://docs.aveva.com/Chatbot
AvailableAveva Contract Risk Management's Alternatives
Definely Draft
Definely Draft is a drafting software from Definely that supports all stages of active drafting.…
Velocious Supplier Portal
Velocious Supplier Portal is a cloud-based software from Velocious that supports supplier management and communication.…
Accept360
An AI-native contract lifecycle management platform that digitizes and structures contracts to automate workflows, ensure…
