“We are pleased to introduce EPS as it will allow organizations to take the power of our already proven Portfolio Simulator technology and implement a truly enterprise wide capability to perform predictive portolio planning" said Keith Vadas, ProModel CEO
Orlando, FL (PRWEB) June 7, 2010
ProModel today announced the Launch of Enterprise Portfolio Simulator its Silverlight Rich Internet Application for Optimizing Project Portfolio Performance from the Gartner PPM & IT Governance Summit.
Enterprise Portfolio Simulator's (EPS) predictive analytics through simulation and risk modeling helps determine and validate the vision of what is realistically possible. It allows portfolio managers (top down) and resource managers (bottom up) to experiment and objectively agree on a scenario defining which projects to execute, when, in what sequence and with how many of each type of specific resource.
"We are pleased to introduce EPS as it will allow organizations to take the power of our already proven Portfolio Simulator technology and implement a truly enterprise wide capability to perform long term strategic resource capacity planning and portfolio analysis" said Keith Vadas, President and CEO of ProModel Corporation. "Additionally, as a Microsoft Gold Certified Partner, we were able to take advantage of Microsoft Silverlight in order to deliver a dynamic web user experience as well as to provide easy integration with Microsoft Project Server so that existing PPM platforms are enhanced and not replaced."
Research from a December 2009 Gartner report titled Competitive Landscape: IT Project and Portfolio Management Software, Worldwide (excerpts reprinted below), shows there is reason for both optimism and pessimism related to the future of PPM software sales. "We believe Enterprise Portfolio Simulator will provide the positive value indicated in the research while helping to overcome those factors which could diminish market opportunities" said Vadas.
Competitive Situation and Trends
PPM applications enhance team performance and provide visibility into the current state of organizational initiatives, resources and spending through the centralized collection of data from multiple sources and perspectives. Integration across multiple business and IT process domains through PPM system functions provides multidimensional views of this data for better visibility and understanding of resource supply versus project (and other work) demand in IT and other project environments. PPM systems can also highlight conditions requiring executive action and decision making.
Factors That Could Stimulate the PPM Market
Enterprise wide project visibility -- Greater focus on collecting initiatives together into portfolios, and managing (and optimizing) them as a group. New product development teams, traditional engineering and construction, and professional services management teams require this very visibility to be more effective.
To increase profit margins, enterprises require optimizing and prioritizing critical resources, such as people, money and time, to optimize, thus driving need of enterprise portfolio management. This became more apparent due to a reduction in IT spending in an adverse economy, thereby articulating the value proposition of PPM in promoting better utilization and efficiencies. Tighter control and management of IT budgets by finance as an ongoing process within organizations and IT management also drive the trend toward PPM usage as a way to achieve optimal utilization.
Factors That Could Diminish Opportunities in the PPM Market
Lack of management consensus (as to value, the match with organizational goals and consensus concerning the executive contributions that are required -- time, money, people), combined with huge change management requirements, is limiting adoption and even causing PPM failures.
Gartner surveys show that tools are still not replacing more-manual approaches to many areas of PPM, including project planning and scheduling, resource profiling and allocation, and time or status reporting. Most organizations still use a combination of manual approaches and software tools because the tools are complex, have poor and non-intuitive interfaces, and are very difficult to customize to match organizational and culture imperatives.
About Gartner PPM & IT Governance Summit
The Gartner PPM & IT Governance Summit focuses on specific, change actions to implement. IT organizations must re-focus initiatives and investments deliver "real value"; and streamline decision-making, if they are to survive the current economic storm. Additional information is available at http://www.gartner.com/us/ppm
About ProModel Corporation
ProModel is a provider of Predictive Analytics BI Software Solutions that empower organizations to make better decisions - faster, by Visualizing, Analyzing and Optimizing future operations.
ProModel solutions combine powerful in-house simulation technology with 20 years of industry expertise in delivering reusable predictive solutions. ProModel's solutions help decision makers:
- Make better decisions faster by having more accurate, quantifiable performance information
- Receive faster payback and larger ROI
- Develop internal, reusable predictive problem solving capability.
Products or service names mentioned herein are the trademarks of their respective owners.
For additional information contact ProModel at (610) 628-6842; http://www.promodel.com
Office Phone: 801-223-4625
Cell Phone: 801-722-9866
# # #