Primavera Systems, Inc. today announced the immediate availability of Primavera ProSight - version 7.0 - , which enables executives and managers to analyze, modify and reprioritize portfolios of IT and other strategic investments quickly and effectively in response to rapidly changing business strategies. ProSight facilitates global collaboration and the prioritization of an organization's project, financial, demand and resource management tools and people. With this input and business metrics, ProSight's powerful analytic capabilities help executives prioritize investments; eliminating initiatives that are inadequately aligned with strategy and proposing new ones that maximize business results.
According to the CHAOS Report from The Standish Group, 71 percent of IT projects are either outright failures or are only partially successful: 18 percent are either cancelled outright or deliver no value to the business, while 53 percent of IT projects are late, over budget or only deliver a portion of the expected features and functionality. As a result, organizations are spending about $55 billion annually on cancelled projects and cost overruns.
The result is employees and resources are better utilized, focusing on delivering projects that drive maximum impact on the company's bottom line. IT organizations have consistently experienced difficulty managing their large and growing investment portfolios. The Salt River Project is an energy and water utility that provides electricity to nearly 1 million customers and is the largest provider of water to the greater Phoenix, Arizona, metropolitan area.
Its information technology services department, which employs 275 people, is responsible for supporting and expanding SRP's IT infrastructure and technology solutions. It uses ProSight to manage and optimize its IT investment portfolio. As a result, SRP has been able to rationalize its application portfolio and identify and track software and hardware systems that are most important to the recovery of its business in the event of a disaster.
"We have been using ProSight for nearly three years, and with this new release, Primavera has made it even more powerful and efficient," commented Eileen Ahles, principal analyst and IT architect for SRP. "We can access information we need faster than before, and we can easily customize our analysis in ProSight so that we get data in the form we need."
ProSight provides everything from data entry forms for details about a single investment, to scorecards for evaluating a set of investments in a portfolio, to investor maps for reviewing and analyzing a portfolio of investments, or even evaluating a portfolio of portfolios. ProSight is built specifically for proposing, planning, and controlling portfolios of investments in a collaborative way, following an objective and transparent process. This results in enormous gains in efficiencies and improvements in business performance.
"ProSight helps organizations overcome the tremendous challenge of aligning key initiatives with strategy and then managing them to completion in today's highly complex and dynamic business environments," noted Joel Koppelman, CEO of Primavera. "We continue to build ProSight and integrate it into our end-to-end PPM solution."
New capabilities and features in this release of ProSight include:
- Greater data compliance and integrity enforced through intuitive Web entry forms;
- Quicker, more informed decisions made through deeper levels of analysis with dependency tables that deliver insight into root causes of problems;
- Up to the minute intelligence on the health of project investments delivered by new alerting capabilities;
- Improved accuracy of analysis provided by drop-down dependency values.
