Capital Project Management Capital Budget Forecasting and Activity Based Budgeting Solutions

The vendor required to provide capital project management (CPM) practices, alongside capital and operating budget processes, to address longstanding inefficiencies, fragmented systems, and manual workflows.
- This initiative encompasses three interconnected solution areas:
•    Capital project management (CPM) - for project lifecycle management; 
•    Capital budget forecasting (CBF) - for capital planning and asset management decision support; and 
•    Activity-based budgeting (abb) - for operating budget development.
- Capital project management (CPM)
•    Centralize project lifecycle management (initiation, planning, execution, closeout). 
•    Provide real-time visibility into budgets, schedules, resources, and risks. 
•    Support change order management, contractor performance evaluation, and field reporting. 
•    Enable mobility, collaboration, and secure stakeholder access.
- Capital budget forecasting (CBF)
•    Support long-term capital planning and forecasting (1-100 years). 
•    Enable asset condition assessment, deterioration modeling, and lifecycle cost analysis. 
•    Provide risk-based prioritization and scenario analysis capabilities. 
•    Support compliance with state regulation 588/17 for asset management planning. 
•    Calculate facility condition index (FCI) and infrastructure backlog metrics.
- Activity-based budgeting (abb)
•    Enable activity-based costing and cost center management. 
•    Support service-based budgeting with work orders and cost recoveries. 
•    Provide multi-year forecasting and scenario planning (operating and capital budgets). 
•    Enable bottom-up and top-down budgeting approaches. 
•    Support savings targets, variance analysis, and budget change management.
- Common requirements across all solutions
•    Integrate with existing and planned enterprise systems 
•    Support reporting, dashboards, and analytics at project, program, and portfolio levels. 
•    Provide role-based access control and secure collaboration capabilities. 
•    Enable data import and export and real-time synchronization with financial systems.