Newforma, known mainly for its Newforma Project Center project information management solution, recently released Newforma Project Analyzer, a financial and resource management application that pulls read-only data from Deltek Vision to facilitate what-if scenarios concerning a project’s scope, milestones, budgets, schedules and staffing.
Created in-house by SHW Group for its project managers, Newforma Project Analyzer was licensed by Newforma and further developed from a financial projection tool into a full project and resource management solution. From a single tabbed dashboard the software allows project managers to manipulate schedules, tasks, project team resources, billing, reimbursements, contract fees and non-reimbursable items, all available in a simple graphical format.
“You can reasonably expect every project manager to use these tools,” said Bob Batcheler, Newforma co-founder and EVP of strategy. “There is an obvious opportunity in the future to marry it with Newforma Project Center but, for now, they will remain separate and distinct products.”
Since all the information accessed by Newforma Project Analyzer comes from an SQL database, the application is fairly customizable for any view a principal or project manager wants. You can view budget information in either dollars or project hours, for example. PIM tools have been around for years but these analysis tools could be the future of the sector as more project managers and principals-in-charge need detailed information to find where they’re losing or making significant money on their projects. BD+C