New Release of Oracle(R) Projects Enables Organizations to Better Align Project Management With Enterprise Strategy and Improve
August 10 2005 - 11:38AM
PR Newswire (US)
Introduction of Oracle Project Portfolio Analysis Module Earns
Industry Praise REDWOOD SHORES, Calif., Aug. 10
/PRNewswire-FirstCall/ -- Oracle (NASDAQ:ORCL) today announced that
it has enhanced its Oracle(R) Projects suite of applications and
added a new module, Oracle Project Portfolio Analysis. The upgraded
suite, part of the Oracle E-Business Suite, will help new, as well
as Oracle's 3,000 plus existing Oracle Projects customers better
control project work and finances through integrated work execution
and financial management, improved budgeting and forecasting and
better visibility into project performance and billing. (Logo:
http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO ) Better
Project Prioritization with Oracle Project Portfolio Analysis The
new Oracle Project Portfolio Analysis module enables
project-centric businesses and departments to more easily plan,
execute and control their portfolios of projects, no matter how
complex. Managers can view all proposed projects through a common
filter to see which most closely match the organization's goals,
available funding, ROI targets and other key criteria. "What if"
scenarios can be used to assess the impact on project funding with
various portfolio mixes. By having a view of the entire portfolio,
businesses can optimize the mix of projects they undertake and
reduce risk. In addition to being a valuable tool for internal IT
teams, Oracle Project Portfolio Analysis can streamline service
delivery in other project-centric departments, such as marketing,
research and new product development. Oracle Project Portfolio
Analysis was recently selected as one of four finalists (out of 23
evaluated solutions) for the Project & Portfolio Management
2005 Awards in the category of Best Technology & Service
Provider. The finalists were chosen by a select group of IT
executives and presented at a ceremony on June 28 at the Seaport
Boston Hotel in Boston. "Analysis of the impact of adjusting
strategic priorities on the mix of proposed tactical projects has
traditionally not been well supported by tools," said Matt Light,
Research Director, Gartner Inc. "Recently, though, reviewing
alternate scenarios -- supported by a realistic view of resource
capacity and progress on current key projects -- has been
increasingly enabled by integrated project and portfolio management
applications." Increased Project Management Visibility The new
release of Oracle Projects streamlines project delivery across many
project-centric industries including professional services,
engineering and construction, asset intensive and public sector.
The release provides an integrated project management and control
solution that enables the seamless integration of the work
execution, financial control and enterprise operations of global
projects, and provides powerful insight into project performance,
targeted to the project and program managers with a simple to use,
configurable interface. Project managers must manage project
performance to plan with accurate forecasts in order to anticipate
and quickly address potential problems that cause overruns in time
and cost. With this release, project managers can monitor project
performance and review and update current project completion
estimates based on data automatically generated from the work plan,
resource plans, actuals, progress, commitments and change orders.
Other key stakeholders, including operations managers and
executives, also have visibility into project performance, thus
increasing financial visibility and control while reducing risk.
Additional enhancements to Oracle Projects include: -- Program
management support, enabling program managers to view the program
schedule and financial performance, rolled up the hierarchy of
projects; -- Earned value metrics delivered out-of-the-box, to
enable greater insight into project performance; -- Support for
contingent workers, who can now be assigned to project and tasks,
validate timecards against purchase orders and process hours and
labor costs and bill directly to customers; -- Streamlined resource
planning with resource rollup from detailed work plans; -- Greater
visibility and control for project billing, with task level billing
methods and simplified invoice review for project managers. Doosan
Heavy Industries & Construction Co., Ltd, a Korean firm that
designs, produces and builds power plants, desalination plants,
material handling equipment, and casting and forging both in
domestic and global markets, has been using Oracle Projects since
July 2005. "Our success depends on our ability to manage large,
complex long-term projects in the most efficient way possible, with
minimal risk" said Mal-Ho Song, Vice President of PI, Doosan Heavy
Industries and Construction Co., Ltd. "Oracle Projects and Oracle
E-Business Suite greatly contributed to our Process Innovation for
redefining our business processes, which will, we expect, enhance
process capability significantly." "This is a significant release
which extends our solution to streamline the project and portfolio
selection process and raises the bar for our project management and
control capabilities, built upon the strength of our project
accounting applications and enterprise integration and
scalability," said Jeanne Lowell, vice president of Oracle Project
Applications Development. "We are excited to deliver benefits
derived from the solution's integration and insight, enabling
portfolio managers and decision boards to optimize their project
portfolios, and project managers to successfully deliver their
projects with less effort. We are working with many customers
across diverse industries in their deployment of the solution." The
new release of Oracle Projects is available now. About Oracle
Oracle is the world's largest enterprise software company. For more
information about Oracle, visit our web Site at
http://www.oracle.com/ . About Project & Portfolio Management
Project & Portfolio Management is produced by Vision Events, a
Gartner, Inc. (NYSE:ITNYSE:andNYSE:ITB) company. Vision Events is a
leading producer of highly focused business events that bring
resellers and end users together with leading and emerging vendors
in private case study presentations to form strategic partnerships
and secure new business in the technology sector. Gartner, Inc. is
the leading provider of research and analysis on the global
information technology industry. Gartner serves more than 10,000
clients, including chief information officers and other senior IT
executives in corporations and government agencies, as well as
technology companies and the investment community. The Company
focuses on delivering objective, in-depth analysis and actionable
advice to enable clients to make more informed business and
technology decisions. Trademarks Oracle, JD Edwards, PeopleSoft and
Retek are registered trademarks of Oracle Corporation and/or its
affiliates. Other names may be trademarks of their respective
owners. http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO
http://photoarchive.ap.org/ DATASOURCE: Oracle Corporation CONTACT:
Susie Penner of Oracle, +1-650-506-1973, or ; or Brandee Barker of
Zeno Group, +1-415-369-8111, or , for Oracle Web site:
http://www.oracle.com/
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