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Newforma Introduces Latest Release of Project Resource Management SoftwareNewforma Project Analyzer Enables More Informed Staffing and Fee Decisions by A/E Firm Project Managers, and Visibility Into Firm-Wide Utilization and Projected Cash Flow by Principals (May 09, 2012)
MANCHESTER, NH -- (Marketwire) -- 05/09/12 -- Newforma®, a project information management (PIM) software company improving building and infrastructure project delivery, today announced the spring 2012 release of its enterprise project resource management software, Newforma® Project Analyzer. Built for project managers and principals in architecture and engineering firms, Newforma Project Analyzer enables more effective project resource management by delivering powerful, real-time project budgeting, planning, staffing, and scheduling information in a highly visual, easy-to-use format. Project managers gain the information to make more informed decisions about staffing and the use of budgeted fees, and principals gain visibility into firm-wide utilization and projected cash flow. This release includes high-priority customer enhancements, including net revenue projections, baseline budgeting and reporting, project workplan approval, enhanced project security by role, multi-currency support, and more.
Global architectural firm HOK is using Newforma Project Analyzer to manage projects worldwide. HOK Chief Information Officer Ken Young said, "We standardized on Newforma Project Analyzer for all of our projects to give our project managers a set of tools specifically designed to support the way they work. Newforma Project Analyzer provides project metrics, promotes process alignment between all of our offices, and creates a firm-wide view of project performance. All of HOK will benefit from this comprehensive view by project, by office, and across our enterprise."
Tim Nicoulin, chief financial officer of Wantman Group, Inc., a Florida-based engineering firm, said, "Newforma Project Analyzer is the only tool I have seen that provides historical data and future projections in a single view, enabling us to make decisions early enough to impact project outcome. It is exactly what we were hoping for."
Newforma Project Analyzer provides project managers and firm principals with the information they need to understand the current project status as well as the impact of trends and changes on the project schedule and budget. The detailed staffing, planning, scheduling, and budget information maintained in Newforma Project Analyzer is combined with cost and billing data from the accounting system to provide a complete view of project performance. This view is organized and presented from a project management perspective in a highly visual set of charts and interactive tables. Managers and principals benefit from up-to-date project information, displayed in the same interactive and easy-to-understand visual format, across selected projects, organizational units, or the entire enterprise.
Newforma Senior Product Manager Tom Vandervort said, "Many A/E firms have told us their previous attempts at project and resource planning had failed. They asked for powerful yet simple tools that project managers will actually use, and that support better-informed project resource management decisions in real time. During our customer validation process, we heard overwhelmingly positive feedback directly from project managers who could more easily access up-to-date project information, and from principals who can rely on more complete and accurate aggregated information across the firm."
Newforma Chief Executive Officer Ian Howell said, "Newforma Project Analyzer fills a vital role in project resource management by providing PMs and firm principals with a quick-reference, graphical view of project status and firm-wide utilization of resources and projected cash flow. This new release includes integration with our industry-leading Newforma PIM solution, adds multi-currency capabilities, delivers many customer requested enhancements, and builds on the great reputation this product has earned over the past year."
New functions in the latest release of Newforma Project Analyzer include:
- "Job to Date" (JTD) and "Estimate at Complete" (EAC) reporting and visualization throughout the application
- Integration with Newforma Project Center enterprise software
- A new approval process for project schedule, workplan, and budget
- Multi-currency support
- Staffing projections in the project tracking graph, so that it now displays staffing, actual cost, budget, and percent complete information in a single view
- Enhanced capacity to save baseline budgets for comparison and reporting
- A new net revenue projection report and associated chart
- Enhanced support for projects that mix billing types (e.g., by fee and by time and materials) by phase
- Improved project security and permissions
- The ability to override the financial system's employee cost information
- A maximum cost rate for use in planning
- Ability to rename common fields to support customer terminology
- Significantly improved application performance when loading data grids
- Ability to enter and view labor budgets at the cost or fee rate
- Improved overall user experience
HOK is a global architectural firm that provides planning and design solutions for high performance, sustainable buildings and communities. Through its collaborative network of 25 offices worldwide, the firm delivers design excellence and innovation to clients globally. Founded in 1955, HOK's expertise includes architecture, engineering, interiors, strategic facility planning, consulting, lighting, graphics, and construction services. In 2011, DesignIntelligence ranked HOK as the No. 1 role model for sustainable and high-performance design.
About Wantman Group
Wantman Group, Inc. (WGI) is a multidisciplinary consulting firm specializing in engineering, surveying and mapping, planning, and environmental services. Founded in 1972, it has offices throughout Florida. WGI's excellence in meeting time and budget requirements has resulted in ongoing client relationships dating as far back as 30 years. Areas of expertise include civil and municipal engineering, transportation, surveying, subsurface utility engineering, construction, and environmental and planning services.
Newforma develops and markets project information management (PIM) software for architecture, engineering and construction firms worldwide, and the owners they serve. Newforma's is the first industry-focused and integrated solution to connect firms to each other, to their project information, to their processes, and to remote team members, all for the purpose of more successful project delivery. Firms in the Newforma Project Network are using Newforma software to manage information on more than 785,000 projects, raising productivity, reducing exposure to risk, strengthening their brands, and freeing time and attention to focus on design, construction, and client service. For more information about Newforma, visit www.newforma.com, or phone +1 603-625-6212.
© 2012 Newforma, Inc. Newforma is a registered trademark of Newforma, Inc., in the United States and in other countries. All other brands or products are trademarks or registered trademarks of their respective holders and should be treated as such.
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