Primavera Launches New Offering that Combines the Benefits of Project Management with Costing and Earned Value

Designed to Meet the Needs of Aerospace & Defense and Government Organizations

ORLANDO, Fla., Nov. 11, 2003 -- Today at its 20th Annual User Conference, Primavera Systems, Inc., unveiled Primavera(R) Cost Manager, a new module for Primavera Enterprise(R) that combines comprehensive project cost and earned value management (EVM) into a single project management solution. Cost Manager helps executives, project cost analysts and project managers improve project results through accurate tracking and forecasting of project performance.

"After combining schedule and cost information into one system, project managers can use Cost Manager to better model all aspects of their projects by layering burden rates, such as overhead, general and administrative costs and the cost of money, and creating period-based reports and graphics derived from historical actual costs," commented Gary Humphreys, President of Humphreys & Associates. "This helps key project stakeholders quickly understand the reciprocal effects of project costs and the schedule and make more informed decisions that will ensure timely project delivery within budget."

Cost analysts can navigate through Cost Manager's flexible project structure to quickly access and update key project performance data, facilitating the measurement and communication of project trends. With enhanced earned value capabilities, project members can develop and analyze detailed reports and graphics showing project performance based upon period-based historical data. This enables the timely identification of issues, giving managers an early opportunity to ensure project success and improve return on investment and profitability in line with corporate objectives.

"Most corporate financial executives track only planned and actual project costs; all too often this leads to early calculations that underestimate final costs," stated Joel M. Koppelman, CEO of Primavera. "The final cost of a project can be accurately predicted - even years before completion -by taking into consideration the earned value of work accomplished to date. Cost Manager helps executives take advantage of this early warning to reduce project costs and ensure that the balance sheets they sign will stand-up to financial scrutiny."

Adding Cost Manager to a Primavera implementation can help organizations create a complete EVM System that supports both government and securities requirements, such as the ANSI/EAI 748 standard, the OMB 300 directive, and the Sarbanes-Oxley Act. The module easily integrates with existing corporate financial and accounting systems to provide comprehensive project control and performance analysis. Complex indirect costs can be applied to base costs including escalation factors, overhead calculations and other associated burdens. Rates can be defined by fiscal period and modified for future rate adjustments. From one source, cost analysts are able to gain a unified, flexible and accurate view of cost and schedule data across every project.

Product Availability

Cost Manager will ship later this month and will be available directly from Primavera and through its worldwide network of Primavera(R) Authorized Representatives.

About Primavera Systems, Inc.

Primavera Systems has specialized in providing companies with project portfolio management software and services since 1983. Primavera Systems' innovative solutions help nearly 60,000 companies around the globe achieve business success by effectively forecasting, planning, managing and executing their portfolio of projects, product development, capital planning, and resource planning. Primavera products deliver proven return on investment by helping companies improve portfolio decision making, complete high-quality projects faster and with lower costs, attain project and service consistency through reuse of best practices, and gain insight into an organization's entire portfolio of projects underway, especially at-risk projects.

The company serves a broad range of industries, including aerospace and defense, automotive, chemical processing, construction, energy, engineering, financial services, manufacturing, pharmaceuticals, professional services, software development, technology, telecommunications and utilities. For more information, visit: http://www.primavera.com.

Primavera is headquartered in Philadelphia (Bala Cynwyd), Pennsylvania, with offices in Chicago, London, New Hampshire and San Francisco.

Primavera, Primavera Enterprise and the Primavera sundial logo are registered trademarks of Primavera Systems, Inc. All other trademarks mentioned herein are the property of their respective owners.

Contacts  
 
   
 Primavera Systems, Inc. 
Shelly Hanby, 610-949-6905
shanby@primavera.com