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Altosoft and TCR Unveil Novus™, The Industry’s Most Advanced Project Analytics Solution
Novus Raises the Bar as the First Commercial Product to support Earned Value Management and Earned Schedule analysis techniques for Enterprise Project Management
Newtown Square, PA., June 11, 2007 – Altosoft, a leading provider of Operational Business Intelligence (OBI) solutions, and TCR, a leading provider of software and services for enterprise project management, today announced the delivery of Novus, a suite of the most advanced project analytics solutions. Based on Altosoft’s Insight operational business intelligence platform, the first offerings in the Novus line of products includes Novus for Plant Maintenance and Novus for Capital Projects.
Designed to provide greater visibility and control for project planners and engineers, finance personnel, operations managers and plant managers, the Novus solutions offer seamless integration with enterprise project management tools such as Primavera and Microsoft Project as well as numerous back office systems such as SAP, Oracle and others. Using this combined data Novus is able to deliver numerous reporting and analytics services through its Web 2.0 browser-based dashboard. Novus also supports full integration of this combined data with Microsoft Office products and popular portal software.
“TCR has a long history of helping our customers overcome the limitations of their enterprise project management software by allowing them to seamlessly link in their SAP and other back office data to better manage their shutdowns and turnarounds as well as their capital projects,” said Sue Gibson, Vice President of Sales and Marketing, TCR. “The power of Altosoft’s analytics and visualization technology will allow customers to have real-time visibility into not only the current state of their projects but also early detection of risk factors in time to mitigate their impact on the project.”
Whether a company is engaged in short-term plant maintenance activities such as shutdowns and turnarounds of equipment or long-term capital projects they all share the common issue that every day of a project there are potentially millions of dollars at risk. Furthermore, in addition to cost overruns due to missed schedules there may also be substantial penalties or even fines. In order to provide companies with the best possible risk mitigation tools Novus is the first commercial product to support Earned Value Management in conjunction with the Earned Schedule analysis technique. The powerful coupling of these methodologies is made possible by Novus’ Dynamic Resource Leveling capability based on Insight’s Predictive Process Analytics technique.
“Successful project management requires high-quality data and the analysis of that data in a way that can be understood by the project manager and operations personnel alike,” said Walt Lipke, author of the Earned Schedule technique (www.earnedschedule.com). “The Novus solutions are the first and only commercially available solution to transparently integrate the Earned Schedule approach into its operational visibility and predictive capabilities allowing users to not only foresee and address issues, but also to comprehensively measure whether a project is or will be successful.”
The Novus solutions also exploit Insight’s integrated Incident Management features to provide a fully-integrate workflow-based alerting and incident tracking system that includes root-cause analysis, automatic alert aggregation, escalations and verification of efficacy of actions taken. This ensures that when issues arise that require attention the right person(s) is notified and that they have taken action to address the problem. Novus also allows users to quickly defined additional custom key performance indicators (KPIs) to track and analyze any other information related to the project including vendor/contractor scorecarding and analysis.
“By combining the power of Insight’s analytics platform with TCR’s deep knowledge of project management Novus allows companies to achieve a level of control over their projects never before possible,” said Scott Opitz, President and CEO of Altosoft Corporation. ”Using Novus, company personnel from project managers to the CFO will realize one, real-time single view of their projects allowing them to quickly address issues and reduce the risk of costly delays.”
Both Novus for Plant Maintenance and Novus for Capital Projects are available immediately. Additional product information for Novus can be found at http://www.tcrproducts.com/novusseries.html.
About TCR Products
TCR is an industry leader in software products and services to optimize the management of plant maintenance and capital projects for more than 40 of the world’s largest companies. TCR’s deep expertise in industry leading project management systems such as Microsoft Project and Primavera, coupled with years of experience supporting world class ERP systems such as SAP and Oracle allows them to uniquely service the needs of their customers. TCR’s Xchange Series seamlessly integrateenterprise project management systems with SAP thereby solving the data synchronization problem for shutdowns and turnarounds, capital projects, and daily maintenance TCR’s Novus Series further extends its technology lead with the introduction of the leading solution for real-time advanced project analytics. More information about TCR can be found at www.tcrproducts.com.
About Altosoft
Altosoft Corporation is the technology leader in Operational Business Intelligence (OBI) software products that enable organizations to optimize their business processes. Based on patent-pending innovations in the areas of automatic process discovery and predictive process analytics, Altosoft’s products allow enterprises to rapidly implement world-class OBI solutions that can be used by a broad range of users without advanced product training. Headquartered in Newtown Square, Pennsylvania Altosoft serves both private and public sector organizations. For more information, please visit www.altosoft.com.
Media Contact:
Tony Welz
Welz & Weisel Communications
703-218-3555
tony@w2comm.com