MT. LAUREL, NJ / July 27, 2004 / PRICE Systems announces immediate availability of the newest release of its suite of cost estimating and analysis models and knowledge management tools, TruePlanning 2004. PRICE's TruePlanning® is designed to help project planners dramatically improve the estimating, forecasting and management of complex software, information technology and weapon system projects, thus ensuring Program Affordability. It includes PRICE Cost Models, industry-specific, standard parametric cost models and benchmarks for software and information technology.
Features have been improved and added throughout the TruePlanning 2004 Suite, including improved usability, powerful reporting tools and embedded uncertainty analysis capability. In this release, special attention has been placed on addressing the critical need to improve cost planning and management of Commercial off the Shelf (COTS) projects. Contact us for more detailed information.
With lifecycle visibility of costs and schedules from concept through maintenance, TruePlanning 2004 improves program accuracy at every decision gateway. Its unified "workspace" streamlines program management with a single point of access to project planning tools and methods, cost models and data, and project history and schedules.
Powerful, Precise Cost Planning for COTS Implementations
Federal organizations are relying more and more on commercial applications to supplement, enhance or replace proprietary systems. This dependency is driven by the promise of improved functionality, reduced total ownership cost and the lack of capability to develop and maintain proprietary IT applications. At the same time, many federal organizations lack the understanding of how to successfully select, control and implement these critical components. TruePlanning 2004 provides both a methodology and visibility into the risk areas for the selection, control and delivery of COTS projects.
Benefits of TruePlanning 2004 for COTS implementations include:
Uncertainty Assessment Mitigates Risk
TruePlanning 2004 includes an "Uncertainty Analysis" report, which helps planners identify and justify risk drivers. This combines the effects of uncertainty associated with technological leaps and the uncertainty inherent with developing estimates before all project information is decided. The results of the uncertainty analysis can be viewed for an entire project, or can drill down to the individual cost objects, for greater detail.
Efficient Reporting Tools Improve Decision-Making
To enable better decision-making and highlight critical project areas, the release includes project audit reports which provide visibility into estimate development and justification. The release also includes the ability to export TruePlanning results to Microsoft Project™ and to PDF and HTML formats for improved presentations.
To streamline budget submissions, TruePlanning2004 includes an Exhibit 300 template. This important addition both saves preparation time and ensures that all of the required elements of the submission are addressed.
New Sizing Capability Helps Advanced Planning
The need to perform software estimates earlier and earlier in the project lifecycle creates a real dilemma for project planners, as they need to create estimates before architectural and technology decisions have been made. To help ease this process, TruePlanning 2004 has expanded sizing capabilities that include Use Cases.
TruePlanning 2004 also incorporates the COCOMO (Constructive Cost Model, a non-proprietary and widely accepted model used in software cost and schedule estimation) into its software estimating offerings.
Multi-Currency Features and Multi-Site Considerations Streamline Management
The release takes into account the realities of the multi-site or multi-national implementation management. TruePlanning 2004 measures the impact of co-located development efforts, providing the ability to assess impact of local versus geographically disbursed teams to project effort and productivity. In addition, TruePlanning has embedded multi-currency capabilities, allowing planners to work in their local currency and roll-up to the standard reporting currency for each agency.