Project and Portfolio Management News
Enterprise Portfolio Simulator 2014 Released
ProModel announced the release of Enterprise Portfolio Simulator 2014 late last month. Along with many other great features, this latest version includes Portfolio Scheduler. Portfolio Scheduler is a cloud-based visualization tool for conducting rapid what-if portfolio planning. See in seconds, the impact of resource constraints on multiple project schedules. Contact email@example.com to determine if you are eligible for a free support-assisted upgrade. This version includes many enhancements that make it easier for you to simulate real-world projects and portfolios. Just some of these great features include:
Template Matching Improvements
You can now use attributes to drive templates with more powerful capabilities that support comparison operators like greater than, less than, contains, starts with, etc.
Transfer Profiles from one division to another
You can now quickly copy template profiles from one division to another.
User Permissions by Division
Define user permissions on a per-division basis.
Resource Capacity Categories
Individual capacities for resources types can be defined and viewed in the resource unit time series report.
Resource Leveling Contours
Set up a capacity contour by resource by project to more powerfully model capacity sensitivity scenarios.
Fixed Cost and Cost Contours
Model costs over time with fixed costs contours. We now have up to 30 user-definable fixed cost fields.
In-Line Contours in more places
You can now define contours directly to the objects themselves with inline contours.
Don’t Forget - EPS 2014 Includes Portfolio Scheduler
This amazing new feature of EPS facilitates rapid portfolio what-if scenarios that show the impact of project schedules on constrained resources. It helps ensure that projects finish on time and within budget. Have the right resources in the right place at the right time! It also includes these great features:
Experiment with new resource allocations to answer high-level questions like, what is the impact to my projects if I only have 80% of my current capacity going forward.
Drag resource capacity up or down and see the impact on resource schedules.
Stack by Attributes
View demand stacked by attribute and drag whole demand segments, with their associated projects, forward and backwards in time.
Give Our Rapid Scenario Planning Tool a Try
Portfolio Studio Website Check out the new Portfolio Scheduler website. You can view a quick explanation of this new tool and sign-up for a trial version here: Portfolio Scheduler!
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Get Ahead of the Curve Webinar
A 30 minute webinar on the struggles of Project and Portfolio Management was hosted by ProModel on July 17. The webinar was moderated by ProModel’s Rochelle Price, Director of Training, and presented by Jack Taylor, Director of Strategic Planning Analytics, and David Higgins, Sr. Solutions Consultant.
The primary goal of the webinar was to present three common areas of struggle within the PPM world, and show how Portfolio Simulation can help. An open discussion (Q&A) opportunity was provided at the end of the presentation.
View the webinar here
The webinar began with Jack Taylor sharing his experience at last month’s annual meeting of the PMI Houston Chapter. It was a great opportunity for good discussions with dozens of people, practitioners as well as their managers. A common thread heard by Jack and ProModel VP of Sales, Dennis White, was “We are not getting as much value from our PPM data as we would like to.”
Jack shared 3 projects in which ProModel is working with customer’s to help them get the value out of their PPM systems that they need and want. The first story focused on a prospect in the oil and gas industry that has several existing systems including a large well known ERP. They are making multimillion dollar project portfolio scheduling decisions using Excel, because the ERP system does not have all the data they need and they cannot “play” with the data within it. Group managers in the organization are provided the project schedule 90 days before they are to start. If the managers’ capacity does not allow for all of the projects, they reschedule or remove projects. However, how the rescheduling of these projects affects the overall portfolio is not taken into consideration in an easy and timely fashion. David demonstrated how easy it is to view the impact of schedule changes on projects in the EPS Portfolio Scheduler tool. By just moving the projects around in the scheduler, you can immediately see the impact on the resource capacity.
The next story focused on a pharma company with similar resource capacity issues. This time David demonstrated how easy it was for them to incorporate the many resource rules that apply for different resource types and project variations by using the incredible templates and algorithms within EPS. The final story involved a company that manages large railway and road construction projects. Within each of their project contracts is a penalty clause. For each day past the agreed upon start date of a project they are charged millions of dollars in penalties. The very large and complex projects offer a real challenge in regard to determining start and finish dates. Again EPS is a solution that provides start and finish probability information that you can rely on. In the example David shared there was a 50% chance that a given project would be started on August 14, but a 90% chance it would start on October 23. Another report showed the accumulated costs associated with each project and the possible start dates. In addition, the tool can run 100's of simulation scenario possibilities, with its competing objectives optimizer, in a matter of minutes.
In all cases, ProModel’s EPS web based application offers a solution that can be implemented within weeks, that is cost effective and easy to use. It can stand alone or integrate with your existing PPM. Wherever your information is now, EPS can get to it, simulate with it, and provide the decision making information you need in a matter of minutes.