Billions of Dollars Lost with Traditional Project Management SoftwareNew Generation Multi-Project Software Must Use Critical Chain vis-a-vis Critical Path SILICON VALLEY, Calif., Oct. 28, 2003 -- According to Realization Technologies CEO Sanjeev Gupta, one billion dollars per year are spent on project management software that is from ten to 20 years old, costing institutions additional billions of dollars. According to the University of California, Berkeley, high tech projects, on average, are late by 100 percent despite the use of project management software and traditional tools. The United Kingdom's National Audit Office (December, 2002) reports that most defense projects take too long and cost too much. Seven of the ten largest smart procurement projects are late and/or over budget. "That's because these project management software products, based on the critical path approach, are outmoded," challenges Gupta. "They have been so for years. While traditional project management software considers time and resource constraints, it ignores the effect uncertainties are causing. That is the crux of the problem with the older approach. Where it fails is when the path changes because of uncertainties. As anyone working in projects knows, the only reality in a multi-project world is uncertainty." According to Gupta, Realization is the only software that runs on the Theory of Constraints. Rather than critical path, it is based on a Critical Chain engine that adapts to uncertainties by inserting "uncertainty buffers" in the right places of each project. These buffers absorb and lessen the shocks of uncertainties. As uncertainties create delays in execution, the buffer gets used. The Critical Chain engine then calculates how much of the unscheduled time is still available for future uncertainties and sets forward- looking priorities for everyone, including managers. Customers, such as the U.S. Marine Corps Multi-Commodity Maintenance Center in Albany, Ga. have improved operations across the board. Using Realization's software, this remanufacturing depot for Marine Corps vehicles, armament and equipment reduced the repair cycle on one of its vehicle production lines from 167 days down to 53, and some even as low as 30 days. At the same time, readiness increased by more than 10 percent and the cost for repair dropped by $17,000 per vehicle. The Marine Corps saved roughly $2.5 million on just one production line. About Realization Technologies, Inc. Realization provides the next generation of project management software that enables companies to do more projects faster and complete them on time. Instead of the 50-year-old critical path approach, which fails when resources are limited and unforeseen uncertainties happen, Realization's software uses a Critical Chain Engine(TM). It is already at work in a wide range of institutions including Hamilton Beach/Proctor-Silex, LSI Logic, Medtronic, NASA, the U.S. Air Force, the U.S. Marine Corps and the U.S. Navy. Realization is headquartered at 2 North First Street, San Jose, Calif. 95113. Website is http://www.realization.com. SOURCE Realization Technologies, Inc. Web Site: http://www.realization.com |