What has changed, however, stems from 2005 being a landmark year marked by the expansion of a seasoned executive team, along with the advent of financial backing by New Mountain Capital (sponsor and manager of New Mountain Partners). In 2005, Deltek's management team welcomed new executive leaders, whose extensive expertise and strategic vision are expected to prime the company for continued growth. In addition to Parker, seasoned industry leaders Jim Reagan and Bill Clark joined in executive vice president (EVP) capacities, and also serve as chief financial officer (CFO) and chief marketing officer (CMO), respectively. Carolyn Parent also joined Deltek as new EVP of worldwide sales. Carolyn Parent also joined Deltek as new EVP of worldwide sales. From 2006 onwards, Deltek plans to further its momentum by continuing to enhance a winning product portfolio and by expanding into new project-oriented vertical and international markets.
Deltek recognizes that most organizations run their enterprises by using a sort of closed-loop, corrective action process, which consists of disjointed "predict," "measure," and "control" phases. While some product-based businesses may already have software solutions for creating a closed-loop process, most still need solutions to replace manual workarounds, and Deltek has embarked on a mission to garner a one-stop-shopping portfolio.
Accordingly, in March 2006, to enhance these development prospects, Deltek announced the acquisition of Welcom, a Houston, Texas (US)-based provider of such solutions, which allows Deltek to immediately provide important earned value management (EVM) capabilities to its broad government contracting customer base, and also to deliver comprehensive project portfolio management (PPM) solutions for many other project-focused organizations worldwide. The acquisition has also added more than 250 Fortune 1000 companies (including marquee names such as General Dynamics and BAE Systems) to Deltek's existing base of clients. Founded in 1983 (like its later parent, coincidentally), Welcom has been developing and selling project management tools to upper-end customers for whom complex project management is a critical business requirement. Its client list includes major manufacturers in the aerospace and defense (A&D), transportation, telecommunications, and architectural, engineering, and construction (A/E/C) industries, and its established presence in the European, Asian, and Australian markets should also create additional channels for Deltek to continue its much-needed expansion outside the US. In addition to cross-selling opportunities in the near future, the acquisition eliminates Deltek's need to interface with the likes of Microsoft Project, Meridian, or Primavera, and allows it to keep a bigger share of the customer wallet to itself.
Welcom products, including the Cobra EVM and Open Plan PPM products, will continue to be developed, licensed, maintained, and supported by Deltek. While they will continue to be sold as standalone products (owing to interfaces with some enterprise resource planning (ERP) systems like SAP or former Baan [now SSA Global LN]), these products will integrate important portfolio analysis, risk management, cost and earned value management, and project collaboration functionality with Deltek's enterprise management solutions. The Open Plan product is a feature-rich, multiproject resource and cost modeling and reporting tool, which includes many tools for mid-level and top-level managers for displaying project status and cost with a traffic light metaphor (green, yellow, red). A project manager can use the professional version of the tool to schedule multiple projects simultaneously, whereas later versions will include an e-mail adviser which will enable mail messages to be sent based on alert conditions.
In general, PPM entails a strategy for management of a portfolio of related or interdependent projects, with the intent of limiting redundant work efforts, and optimizing decision-making and resource skills across projects. The idea is to take a holistic view of projects and their relationships, and to focus on the potential for project benefits to be controlled across the enterprise. Such applications are used for automating and optimizing the initiating, planning, scheduling, allocation, monitoring, and measuring of the activities and resources required to complete projects. Portfolio management capabilities enable the tracking of an aggregate of projects, products, programs, and initiatives, in order to oversee resource profiling and allocation, which in turn are useful tools for making ongoing investment and prioritization decisions, and for tracking risks as part of an overall portfolio.
PPM tools are high-end, multiproject management tools which help organizations to manage the scope, time, and cost of discrete sets of related people-based processes (projects) on an individual and portfolio basis, with integrated time reporting, executive information reporting, and project accounting interfaces. In the greater scheme of things, PPM can include the breadth of horizontal and vertical solutions, such as construction management, facilities management, professional service automation (PSA), aspects of information technology (IT) governance solutions, and so on—all developed around the idea of successful project completion and delivery as the business raison d'tre. For more information, see Project Portfolio Management for Service Organizations: Bridging the Gap between Project Management and Operations.
Deltek recognizes that most organizations run their enterprises by using a sort of closed-loop, corrective action process, which consists of disjointed "predict," "measure," and "control" phases. While some product-based businesses may already have software solutions for creating a closed-loop process, most still need solutions to replace manual workarounds, and Deltek has embarked on a mission to garner a one-stop-shopping portfolio.
Accordingly, in March 2006, to enhance these development prospects, Deltek announced the acquisition of Welcom, a Houston, Texas (US)-based provider of such solutions, which allows Deltek to immediately provide important earned value management (EVM) capabilities to its broad government contracting customer base, and also to deliver comprehensive project portfolio management (PPM) solutions for many other project-focused organizations worldwide. The acquisition has also added more than 250 Fortune 1000 companies (including marquee names such as General Dynamics and BAE Systems) to Deltek's existing base of clients. Founded in 1983 (like its later parent, coincidentally), Welcom has been developing and selling project management tools to upper-end customers for whom complex project management is a critical business requirement. Its client list includes major manufacturers in the aerospace and defense (A&D), transportation, telecommunications, and architectural, engineering, and construction (A/E/C) industries, and its established presence in the European, Asian, and Australian markets should also create additional channels for Deltek to continue its much-needed expansion outside the US. In addition to cross-selling opportunities in the near future, the acquisition eliminates Deltek's need to interface with the likes of Microsoft Project, Meridian, or Primavera, and allows it to keep a bigger share of the customer wallet to itself.
Welcom products, including the Cobra EVM and Open Plan PPM products, will continue to be developed, licensed, maintained, and supported by Deltek. While they will continue to be sold as standalone products (owing to interfaces with some enterprise resource planning (ERP) systems like SAP or former Baan [now SSA Global LN]), these products will integrate important portfolio analysis, risk management, cost and earned value management, and project collaboration functionality with Deltek's enterprise management solutions. The Open Plan product is a feature-rich, multiproject resource and cost modeling and reporting tool, which includes many tools for mid-level and top-level managers for displaying project status and cost with a traffic light metaphor (green, yellow, red). A project manager can use the professional version of the tool to schedule multiple projects simultaneously, whereas later versions will include an e-mail adviser which will enable mail messages to be sent based on alert conditions.
In general, PPM entails a strategy for management of a portfolio of related or interdependent projects, with the intent of limiting redundant work efforts, and optimizing decision-making and resource skills across projects. The idea is to take a holistic view of projects and their relationships, and to focus on the potential for project benefits to be controlled across the enterprise. Such applications are used for automating and optimizing the initiating, planning, scheduling, allocation, monitoring, and measuring of the activities and resources required to complete projects. Portfolio management capabilities enable the tracking of an aggregate of projects, products, programs, and initiatives, in order to oversee resource profiling and allocation, which in turn are useful tools for making ongoing investment and prioritization decisions, and for tracking risks as part of an overall portfolio.
PPM tools are high-end, multiproject management tools which help organizations to manage the scope, time, and cost of discrete sets of related people-based processes (projects) on an individual and portfolio basis, with integrated time reporting, executive information reporting, and project accounting interfaces. In the greater scheme of things, PPM can include the breadth of horizontal and vertical solutions, such as construction management, facilities management, professional service automation (PSA), aspects of information technology (IT) governance solutions, and so on—all developed around the idea of successful project completion and delivery as the business raison d'tre. For more information, see Project Portfolio Management for Service Organizations: Bridging the Gap between Project Management and Operations.
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