By Justin Lucas
If you’re in the projects business but don’t standardize project prioritization or planning or delivery, what result should you expect?
You’ll select projects without knowing whether they align with your strategy. You won’t be able to establish real performance baselines. Projects and portfolios will struggle to deliver their desired return on investment.
At EcoSys, we’ve always focused on project controls. While we’ve certainly had aspects of portfolio management and contract management, we realized there’s no point controlling a project perfectly if it’s the wrong project to begin with. Similarly, without ensuring your contracts are managed effectively, you can’t really control all aspects of a project.
With the release of EcoSys 8, we decided to invest in the expansion of portfolio management and contract management capabilities to offer a complete solution for improving the full life-cycle of projects performance. EcoSys is now the first integrated platform in the industry for project performance, project portfolio management, project controls and contract management. This allows our customers to benefit from all our core strengths in project controls and helps them replace their legacy point solutions for portfolios and contracts.
Everything happens in one platform. Other vendors who provide solutions in all three areas really offer three technology products on three different platforms. Our three products – EcoSys Portfolios, EcoSys Projects, and EcoSys Contracts – are on one technology platform. They are fully integrated, so when you select a project from any one of the three products, you’re selecting it from the same list of projects. You don’t have to automate the data exchange between the three pieces.
An exciting benefit of this is the ability to recycle data. Project execution data can be recycled that back into EcoSys Portfolios to make sure that your estimates for future projects are that much more accurate through benchmarking.
Listen to this podcast featuring Mark White, senior vice president of projects performance at Hexagon PPM to hear more about the benefits of EcoSys 8, the EcoSys product vision and roadmap.
Justin Lucas is marketing manager for EcoSys.