IFS CLOUD:
Project Management Module

With IFS Cloud Project module access flexible sales contract management and agile progress-based billing, including support for applications for payments. This allows users to invoice the project according to the agreed milestones and payment terms, and to verify and approve the payment requests from subcontractors.

Manage subcontracts and subcontractors efficiently, ensuring that the project scope, schedule, and budget are aligned and communicated with the subcontracting parties. Users can also track the progress and quality of the subcontracted work, and resolve any issues or disputes that may arise. Keep track of indemnity requirements and indemnity details, along with user-configurable validations, end-to-end, throughout the contract life cycle. This ensures that the project parties are adequately insured and protected against any potential claims or losses, and that they comply with the contractual obligations and regulations.  

Plan and follow-up of projects, providing the ability to monitor the progress of a project tracking costs, hours, revenue, progress and performance. Create and maintain a work breakdown structure (WBS) that defines the project scope, deliverables, and activities. The WBS acts as the foundation for integration to other IFS project management software functional modules, such as finance, procurement, inventory, and human resources.

Automate monitoring and control the project performance, using various tools and methods such as budgets, forecasts, earned value, critical path, and risk analysis. Users can track the project costs, hours, revenue, progress, and performance against the baseline and the actuals, and identify and resolve any issues or deviations. Share project data between IFS and third-party business applications, using RESTful APIs and integrations - synchronize project information with external systems, such as scheduling, collaboration, and reporting tools. 

Plan and execute industrial manufacturing as part of a project scope. It supports project requirements planning (PMRP) and project master schedule (PMS) to ensure the optimal use of resources and time. It also enables users to transfer material between project and standard inventory, and between project activities. It helps users to track and allocate the costs for material, labor and operations to the project. It supports visual planning for project shop orders and material requirements planning across the project scope. It's an all-encompassing solution that covers everything you need for effective project execution and management in industrial manufacturing.

Plan, monitor, and control professional the financial performance of your projects with IFS Cloud. It supports the creation and maintenance of comprehensive cost breakdown structures (CBS) and financial cost elements connected to work breakdown structures (WBS). It also enables users to perform project costing, project accounting, project invoicing, revenue recognition, and win-lose analysis. It provides real-time updates on profit and loss forecasts and allows users to manage project budgeting and forecasting at any level of CBS or WBS.

It uses trusted data inputs from actual and predicted cost and revenue to ensure accurate automation inforecasting. 

IFS Cloud risk management module that enables users to proactively deal with potential threats and opportunities related to their projects, contracts, or subcontracts. It supports the creation and maintenance of risk analyses, which consist of risk assessment registers and risk heat maps. Users can also define risk mitigation and actions, and connect them to the relevant project activities. The module also ensures that the risk analyses are updated regularly, by changing their status after a specified time interval. This proactive approach enhances overall productivity in project management.