Enterprise Portfolio Simulator uses modeling technology to predict the performance of project portfolios while identifying schedule, financial, and resource risks. These risks are then mitigated virtually, using scenario planning, to ensure more projects can be included in the portfolio, while being completed on-time and within organizational constraints.
Rapid Modeling Using Your Current Data
Since EPS becomes an integrated component of your existing PPM process by adding modeling capabilities to your current project data, modeling is available almost immediately. Instead of implementing a new PPM system, and bringing everyone on board before getting results, EPS allows the key project portfolio decision makers to begin validating and improving their portfolios very quickly.
Enhanced Project Selection
Project selection is a complicated process of weighing competing objectives. Projects must be prioritized, and equally important, measured against limited resources and budget. When considering which projects to do, when to start them, and whether to increase/decrease budgets and staffing, there are thousands, if not millions, of possible project selection combinations. Scenario planning, that is both nimble and intelligent, is critical for successful project selection. EPS uses easy drag and drop planning as well as a powerful, competing-objective optimizer to help get the most projects into the portfolio while not putting their completion or constraints at risk.
Robust Resource Capacity Planning
Simple resource capacity planning adds up resource demand for project plans and compares it against a capacity. This approach is lacking, which leads to significant project delays. Robust resource capacity planning adds two things. 1. Account for hidden resource constraints that put projects at risk. 2. Model the impact of resource shortfall on project schedules. Combine these two additional factors with scenario planning, and more projects can be complete by the same set of resources with much higher likelihood of being on time.
Risk Forecasting and Mitigation
Turn qualitative risk categories into quantifiable impacts to project schedules, resources, and financials. It is common to rank risks in categories by severity (e.g. Project A has a ‘High’ risk of being impacted by ‘Technical Complexity’). EPS provides an easy mechanism, using simulation, to turn these risk categories into measurable likelihoods that the risks will cause project delays, resource over allocations, and cost overruns. These risks can then be mitigated using scenario planning for fire prevention vs. the much more costly firefighting that happens when the projects are in flight.
90% of our customers find all of their modeling needs met with Enterprise Portfolio Simulator. That leaves a small percent who really need to go deeper with their simulations. For those of you who need advanced project portfolio modeling, ProModel is the best in the business, and can custom build a solution or expand on our existing solution to meet your needs.
Advanced Project Dependencies and Attrition
In the real world, project can have complex dependencies to one another. Additionally, project are sometimes terminated, don’t actually start, or otherwise fail. When this attrition occurs, other projects are typically started in their place, or existing projects are accelerated. Model the real-world impact that different project outcomes and alternative sets of projects have for resource capacity planning and financial forecasts.
Project Modeling using Variables and Logic
There is often a need to model a logical correlation between project events and project requirements. For example, during a simulation, if a project milestone completes after a certain date, should the resource requirements and budget be increased to represent the effort needed to bring it back on schedule? This and many other situations can and should be modeled using logic and system variables.
Staffing and financial constraints are common in project planning, but there are additional constraints that should be modeled. Physical space constraints may limit the number projects that can be worked on as well as their outcomes. Weather, regulatory, supply chain, and other constraints may have an impact of project schedules. Please contact us to explore how we can help you quantify the impact of these constraints.
Enterprise Portfolio Simulator 2014 released
ProModel is happy to announce the release of Enterprise Portfolio Simulator 2014! 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. Please contact us at 888-776-6633 or firstname.lastname@example.org to determine if you are eligible for a free support-assisted upgrade.
Not familiar with our 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!
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.
What are the other new capabilities of the Enterprise Portfolio Simulator?
This version includes many enhancements that make it easier for you to simulate real-world projects and portfolios. Just some of these great features are listed below:
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 on 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.
Modeling for Pharmaceutical R&D
Modeling for Oil/Gas Exploration
Large investments, with thin margins, makes exploration a complicated forecasting challenge. Factor in uncertainty of success with variable compliance and environmental factors, and only a solid simulation model can accurately predict potential revenues at what costs and with what resources. Let us show you how we make exploration more profitable through predictive analytics and modeling.
Modeling for Engineering & Construction
Construction, engineering, and architecture projects face high dollar, long term, and uncertain challenges. Model the risks from the likelihood of success in bid and proposal all the way to weather conditions to more accurately predict milestone completion dates, cost overruns, and staffing requirements. Learn more about how we enrich your existing Corecon or other PPM projects with simulation modeling to provide more robust predictions.
Modeling for IT and Product Development
Innovation in IT is born from project ideation and selection. Project portfolio modeling helps balance the many competing objectives present during project selection: resource availability, organizational objectives, and costs. Your current PPM software is capturing much of this information, and we integrate that data with the simulation model to truly optimized the project portfolio to ensure maximum innovation with limited resources. See how we help IT and Product Development companies get more of the right projects done, on time, and under budget through predictive analytics.