Top 7 Features to Look For in Project Controls Software
All projects can benefit from robust scheduling, cost management, and risk management, however the specific features you need can vary dramatically depending on the industry you're in and the type of project you're managing. In this post, I'll be highlighting the top seven features to look for in project controls software and how they support different project environments, plus how Mpower Project Controls and Cost Management Software helps teams stay in control from inception to closeout.
Contents
What are Project Controls?
Project controls refer to the discipline within project management used to plan, manage, and monitor the schedule, performance, and cost of a project. Project controls help ensure that your project is delivered on time, within budget, and to quality standards. In industries with capital projects like oil & gas and infrastructure, project controls are especially critical due to the scale, complexity, and risk involved in these projects.
What is Project Controls Software?
Project controls software provides digital tools and processes used to track, manage, and optimize the performance of a project, particularly in terms of cost, schedule, scope, and risk. At a high level, good project controls software allows teams to track project progress against planned estimates, identify deviations and implement corrective action, forecast outcomes based on current performance, and communicate insights to stakeholders.
Top 7 Features of Project Controls Software
When deciding which project controls software is right for your major capital project, it's vital to look for features that go beyond basic functionality and can be tailored to your specific needs. Below, I've outlined the seven key features of any project controls software, as well as which industries and project types can benefit from them the most:
1. Integrated Modules
Good project controls software for complex capital projects and operations will offer a suite of modules that are interconnected with one another, like cost control, estimating, commercial management, productivity management, and more. For example, changes made in the productivity module can automatically reflect in forecast reports and schedule scenarios. Integration provides a more comprehensive project overview, ensuring data flows seamlessly between functions, reducing silos and duplication.
2. Multi-Dimensional Financial Structuring
Effective project controls software should support a three-tier financial module:
- Quantity: Such as work hours
- Cost: The internal expenses to the company
- Price: Revenue charged to project client
Unlike many software applications that combine quantity with a single financial metric (Qty+ single), Mpower distinctly tracks Quantity, Cost, and Price (Qty + Cost + Price), which is especially beneficial for contractors managing client billing.
3. Schedule and Cost Integration
Linking schedule data directly with cost data allows your team to align timeline and budget performance in a single view, which is essential for accurate forecasting and proactive project management.
Mpower's activity-based Gantt schedule view is integrated with cost budgets, giving users both a visual timeline and a financial overview. This helps teams track progress and cost simultaneously, identify schedule delays or budget overruns early, and process payments faster.
4. Automatic Phasing of Budgets
Smart project controls software should support automatic distribution (phasing) of budgets and forecasts across the project lifecycle, minimising the need for manual effort and reducing human error.
In Mpower, this functionality eliminates the manual work required in platforms like Oracle Unifier. With Mpower supplying the data, teams can model phasing rules based on planned start dates, durations, or custom distributions, with outputs feeding into cash flow forecasts and performance dashboards.
5. Hierarchical Rate Matching for Timesheets
Rather than applying a single static rate, systems should support conditional rates for timesheet pricing that reflect dynamic pricing based on role, location, contract, or date.
Timesheet entries in Mpower are priced using a rule-based hierarchy. It automatically applies the most appropriate rate by testing multiple conditions until a match is found, ensuring accuracy and auditability.
6. Built-in Scheduling Tool with Risk Simulation
Having an integrated scheduling tool in your project controls software eliminates the need for third-party licenses; bonus points if it supports risk analysis techniques.
The companion Gantt tool in Mpower includes full scheduling capabilities and supports risk-based Monte Carlo simulation, which uses random sampling to model and predict a range of possible outcomes in a project schedule. This allows users to model optimistic, pessimistic, and most likely durations for improved forecast reliability, without needing to license Primavera.
7. Integrated Management of Change
Worthwhile project controls software must facilitate structured change management, enabling users to document, assess, approve, and implement changes systematically while maintaining traceability.
Mpower's Variations and Change Orders features allow review and approval of changes to scope and budget to be easily tracked and reported via original, current approved, value of work done, and forecast figures.
Additional Project Controls Software Features
Beyond the core seven features outlined above, there are several additional key features offered by Mpower that can elevate your toolset further:
- Productivity tracking: Mpower offers granular visibility into labour hours, cost and revenue profiles, and progress tracking (by period and cumulative).
- Procurement management: Mpower enables teams to manage the entire process from purchase requisitions through supplier quotes, purchase orders, goods receipts, and purchase invoices.
- Billing cycle & types: Whether your project requires a top-down strategic budget or a bottom-up detailed estimate, Mpower offers the flexibility to define billing types.
Summary: Choosing the Right Project Controls Software
When delivering large-scale capital projects, the right project controls software features help you maintain control, improve collaboration, and drive results. Applications like Mpower Project Controls and Cost Management Software bring these modules together in one cohesive package, which is designed to adapt to your project's specific needs across every phase.
Download the Mpower brochure to learn how Mpower helps engineering, procurement, and construction teams streamline planning, control costs, and manage change more effectively.
Project Controls FAQs
1. What industries benefit most from project controls systems?
Project controls systems are essential in industries with high complexity, cost, and risk, namely energy and offshore engineering. Project controls software helps teams manage large volumes of data, track progress across multiple phases, and maintain tight control over budget and schedule.
2. How does Mpower differ from other project controls software?
Mpower is an integrated project controls environment with features like multi-dimensional financial tracking (Qty + Cost + Price), built-in Gantt scheduling with risk simulation, and automated phasing. Unlike many systems, its modules are designed to work together seamlessly, reducing manual effort and improving data accuracy.
Do I need Primavera or other scheduling software if I use Mpower?
No, Mpower includes its own companion Gantt tool, which provides full scheduling capabilities and supports Monte Carlo risk simulation. This means users can plan, forecast, and simulate schedules without needing third-party tools like Primavera.
