Capital project management software manages operations and costs related to capital projects (long-term capital intensive projects). This type of software allows large companies to define, plan, and monitor all activities required to create and maintain capital assets. Capital project management is used mostly by large companies in industries like construction and infrastructure management, but can also be used by manufacturers and retailers to build facilities such as factories and distribution centers.
Capital project management is delivered as standalone software or as a variation of project and portfolio management software or construction management software. This type of software integrates with ERP systems and accounting software for financial purposes and with core HR software and workforce management software to manage the employees involved in capital projects.
To qualify for inclusion in the Capital Project Management category, a product must:
Provide a central repository of project information from multiple sources
Include project and portfolio management features for capital projects
Manage budgets for complex projects and compare with actual costs
Improve visibility across various projects, portfolios, and business units
Deliver business processes to improve collaboration and productivity