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Woodside selects 8over8's ProCon platform to manage contracts through lifecycle

Thursday, July 31, 2014

Woodside Petroleum Ltd, Australia's largest independent oil and gas company, has selected 8over8's ProCon Platform to enhance the management of contractual obligations across its portfolio of projects and operations.

ProCon enables owner operators of large capital projects to establish a commercial firewall against value leakage from mismanagement of unforeseen change orders, missed contractual obligations and poor interface management of the portfolio of capital project contracts. ProCon embeds discipline in the management of project contracts through standardization of the language and terminology that underpin contractual communications, a comprehensive communication audit trail, and automated monitoring of obligations and risk. Actionable analytics and predictive insights give advance warning of potential overruns and change requests that require management attention.

'The delays and claims that blight large capital projects are costing billions of dollars at a time when the need for capital discipline has never been greater. We believe that Woodside will benefit from more streamlined commercial engagement with contractors, better connected decision making across the internal organisation on all contractual obligations, and a potential increase in the pro-active management of risk.' says Clare Colhoun, CEO, 8over8.



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