- 11 February 2004 11:43
Mercury Releases Mercury Portfolio Management 5.5
· Enhancements Provide IT Decision Makers New Flexibility to Optimize and Govern the IT Portfolio · Announces New Mercury Portfolio Management Fast Start Program · Xcel Energy saves millions using Mercury Portfolio Management
AUSTRALIA AND SUNNYVALE, CALIF, 11 FEBRUARY, 2004 — Today, Mercury Interactive Corporation (NASDAQ: MERQ), the global leader in business technology optimization (BTO), announced the availability of Mercury™ Portfolio Management 5.5, a major upgrade to Mercury’s award-winning portfolio management product within the Mercury™ IT Governance Center.
Mercury also announced the Mercury™ Portfolio Management Fast Start Program, which provides customers with a fully functioning portfolio view of their most critical projects in two weeks.
Mercury Portfolio Management 5.5 addresses a strategic component of the IT governance process, helping customers align their IT portfolio with the needs of the business, reduce IT waste, and maximize the value of their entire IT portfolio.
The new release significantly enhances the ability of executives to evaluate project demand against business objectives, prioritize projects and optimize their portfolio mix while implementing enterprise best practices for managing proposals and projects.
Mercury Portfolio Management 5.5 enables customers to rapidly adopt an enterprise approach to managing the entire portfolio lifecycle from proposal initiation, justification, and review to project execution, deployment, and benefit measurement. Using Portfolio Management 5.5, executives and portfolio decision makers have greater flexibility to “slice-and-dice” the portfolio by expense, by resources and by benefit with drill down capability into the details of each project at all levels of the IT organisation.
“In the first eight months using Mercury Portfolio Management, we saved US$12.8 million in repurposed capital investment, US$6.5 million by avoiding investments in non-viable projects, and increased the number of healthy IT projects by 70 percent,” said Mike Carlson, director of business transformation at Xcel Energy.
“The new Mercury Portfolio Management 5.5 release will help us maximize the value we get from our IT portfolio, and is a seminal component in our overall IT governance and business transformation strategy.”
New enhancements in Mercury Portfolio Management 5.5 include: · Enhanced project scorecards, metrics and ratings to improve alignment of project priorities with business objectives · Unlimited qualitative and quantitative “what-if” project scenarios to eliminate the guess-work from portfolio mix decisions · Out-of-the-box best practices to help customers govern, enforce and automate project execution, reduce risk and increase return on investment · Powerful user interface configuration options that provide a tailored perspective to IT projects and programs
Enhanced dashboards to enable line of business and IT executives to track progress, problems, and results of sponsored projects
“We see a number of companies with an enterprise business process background entering this space with a focus on taking a strategic approach to IT Governance. These companies will pose a very interesting challenge to the point vendors coming from a 'time accounting' background,” said Jim Duggan, vice president research at Gartner, Inc. “This new mix is good for the market, providing companies with a variety of options to tackle their point project management problems and addressing their enterprise IT governance issues.”
“IT Governance is one of our most strategic priorities at the Chicago Board of Trade,” said William Farrow, executive vice president and CIO at the Chicago Board of Trade. “Every Monday morning our top executives and the Office of the President meet and review the portfolio and project information provided by the Mercury IT Governance Center. Our executives understand what is in play, what is not, and why – that’s worth its weight in gold to me.”
Mercury Portfolio Management Fast Start Program The Mercury Portfolio Management Fast Start Program provides customers with a fully functioning portfolio view of their most important 50-75 projects in as little as two weeks. Based on insights gained from thousands of hours of consulting and industry best practices, the Mercury Fast Start Program was designed to deliver rapid value to IT executives and managers responsible for creating proposals, business cases, and budgets and to decision makers who participate in the prioritization, evaluation, and justification of IT projects.
“The Mercury Portfolio Management Fast Start Program allowed us to quickly get a full view of our most critical IT projects, which was an important step to accelerate our overall IT governance strategy,” said Bob Moore, vice president of IT at PaeTec Communications. “PaeTec is using Mercury’s Portfolio Management product and IT Governance Center to take an enterprise approach to prioritizing our new strategic IT initiatives, managing our ongoing IT operations, and achieving our business technology optimization objectives.”
Customers of the Mercury Fast Start Program can get started immediately. Mercury provides the software licenses and services to support a team of 15 portfolio managers and analysts to populate the top 50-75 projects in their IT portfolio.
Mercury IT Governance Center Customers starting with Mercury Portfolio Management can scale into the Mercury IT Governance Center, a complete enterprise IT governance offering. Mercury IT Governance Center is comprised of integrated applications, a real-time dashboard and an enterprise foundation. Applications within the IT Governance Center include Demand Management, Portfolio Management, Program Management, Project Management, Resource Management, Time Management, Financial Management, and Change Management.
ABOUT MERCURY INTERACTIVE CORPORATION
Mercury Interactive (NASDAQ: MERQ), the global leader in business technology optimization (BTO), is committed to helping customers optimize the business value of information technology. Founded in 1989, Mercury conducts business worldwide and is one of the fastest growing enterprise software companies today. Mercury provides software and services to govern the priorities, people, and processes of IT; deliver and manage applications; and integrate IT strategy and execution.
Customers worldwide rely on Mercury offerings to improve quality and performance of applications and manage IT costs, risks and compliance. Mercury BTO offerings are complemented by technologies and services from global business partners. For more information, visit www.mercuryinteractive.com.
For further information please contact: Graham Sowden Mercury Interactive 02 8273 1999 Shuna Boyd BoydPR 02 9418 8100