PowerSteering Extends Portfolio Management Beyond "Just Projects" in Latest Release

Business Wire, May 7, 2008

Asset management, enhanced resource planning, and "what-if" portfolio reviews headline PowerSteering 6 innovations

CAMBRIDGE, Mass. -- PowerSteering Software, the leader in on-demand enterprise project & portfolio management (PPM) solutions, today announced the availability of its latest product release, PowerSteering 6. The release further advances the two dimensions of the company's vision: bringing the adaptability of on-demand PPM software to large organizations, and enabling the practice of portfolio management across the enterprise.

Recognizing that much of work within organizations is not limited to formal projects, PowerSteering 6 now provides clients complete freedom to define which asset types comprise the enterprise portfolio. The integration of this high-level portfolio management with tools for project management, resource management, collaboration, and costs & benefits tracking within a single system empowers PowerSteering customers with complete transparency into the holistic portfolio, from planning through execution, realization, and review. The result: improved strategic alignment, better visibility, and increased team effectiveness.

"The release of version 6 further distances PowerSteering from other software-as-a-service PPM providers that can not match our robust capabilities," stated Stephen Sharp, CEO of PowerSteering Software. "Installed or 'traditional' PPM vendors, on the other hand, can not rival our ease of use, ease of deployment, and low cost of ownership. PowerSteering has become the clear solution of choice for global companies seeking an enterprise-capable PPM application with all the virtues of an on-demand solution."

Driven by Voice of the Customer feedback from PowerSteering's list of world-class clients, PowerSteering 6 includes dozens of improvements to improve portfolio planning, resource optimization, financial management, and end-user productivity and adoption, including:

Integrated Asset Management - Portfolios managed within PowerSteering can now include any asset class - not just projects. An IT PMO, for example, might also manage applications and infrastructure, in addition to projects and work requests.

Portfolio "What-If" Planning - Portfolio "what-if" scenarios allow customers to select the best investments based on custom criteria, such as probability of success, expected cost, or projected benefits. Executives can view, in real-time, the impact of investment and resource decisions to optimize portfolio value.

Resource Planning - PowerSteering 6 provides enhanced resource and capacity planning for actual and proposed projects, across multiple initiatives. Customers can find, assign, and balance resources across the portfolio by skill or other criteria, as well as drill down into the allocation of specific resources.

Project Cost Accounting - PowerSteering 6 enables full project accounting, tightly integrated with financial metrics. Activity Codes empower activity-based costing and accounting, while powerful chargeback functionality allows users to identify timesheet items, summarize their costs and charge the appropriate stakeholders. Timesheets also feature a new UI, flexible billing rates, and online approval workflows.

PowerSteering's "Just Right" deployment approach balances the application's comprehensive capabilities with unmatched ease-of-use. Regardless of their level of maturity, customers can easily configure the software to match their current methodologies, workflows and lexicon, and gradually implement advanced features as their PPM processes evolve. A streamlined, role-based user-interface provides end-users with only the information and tools pertinent to them, reducing the change management challenge while increasing user adoption.

About PowerSteering Software

PowerSteering Software is the leader in On-Demand Enterprise PPM software for Information Technology, Operational Excellence, New Product Development and other enterprise initiatives. Its easy-to-use software provides executives at the US Army, Raytheon, Ingersoll Rand, Merck, United Health Group, TD Bank, Washington Mutual, IBM, Seagate, Best Buy and over 120 other customers with executive visibility, strategy alignment, and enhanced team productivity to drive strategy and accelerate results across the enterprise. For additional information, please visit www.powersteeringsoftware.com