Capital Budget & Management (AFE) - business process

Solutions for
the AFE
Process

Establish budgets for capital investment projects

The Capital Budget and Management (AFE) process involves establishing detailed budgets for capital investment projects, utilizing financial controls and accounting procedures to approve and track authorized expenditures for the project, as well as providing critical management reporting during the project. Because the energy industry is very capital intensive, virtually every energy company undertakes capital projects of some kind, including exploration, development, production or infrastructure creation.

Capital Budget and Management Processes and Systems

Processes and systems to efficiently manage capital budgets are critical to success. Key elements include:

Management of all aspects of established capital budget, including flexibility to allocate asset portions to multiple budgets
Authorization for expenditure (AFE) including approval process and workflow automation
Capital tracking, including expenditure / budget variance, percentage completion, etc.
Compliance with energy industry specific accounting procedures (e.g. COPAS)
Support for analysis, strategic planning, opportunity identification, reporting, decision making and risk mitigation
Integration into other relevant ERP systems including financial accounting (GL, AP, AR)

Capital Budget and Management Software Solutions

Quorum has experience in the Capital Budget and Management (AFE) process in design, implementation and support of configurable, sustainable, scalable information technology solutions to manage business activities efficiently and cost effectively. In addition to consulting services, we provide a full range of software solutions specific to the Capital Budget and Management (AFE) process, including: