Primavera(R) releases new version of portfolio management solution connecting business strategy to execution

Primavera ProSight(R) Enables Organizations to Respond Rapidly to Changing Conditions

PHILADELPHIA, PA, March 6, 2008 -- Primavera Systems, Inc. today announced the immediate availability of Primavera ProSight (version 7.0), which enables executives and managers to analyze, modify and reprioritize portfolios of IT and other strategic investments quickly and effectively in response to rapidly changing business strategies.

IT organizations have consistently experienced difficulty managing their large and growing investment portfolios. According to the CHAOS Report from The Standish Group, 71 percent of IT projects are either outright failures or are only partially successful: 18 percent are either cancelled outright or deliver no value to the business, while 53 percent of IT projects are late, over budget or only deliver a portion of the expected features and functionality. As a result, organizations are spending about $55 billion annually on cancelled projects and cost overruns(1).

ProSight facilitates global collaboration and the prioritization of an organization's project, financial, demand and resource management tools and people. With this input and business metrics, ProSight's powerful analytic capabilities help executives prioritize investments; eliminating initiatives that are inadequately aligned with strategy and proposing new ones that maximize business results. The result is employees and resources are better utilized, focusing on delivering projects that drive maximum impact on the company's bottom line.

The Salt River Project (SRP) is an energy and water utility that provides electricity to nearly 1 million customers and is the largest provider of water to the greater Phoenix, Arizona, metropolitan area. Its information technology services department, which employs 275 people, is responsible for supporting and expanding SRP's IT infrastructure and technology solutions. It uses ProSight to manage and optimize its IT investment portfolio. As a result, SRP has been able to rationalize its application portfolio and identify and track software and hardware systems that are most important to the recovery of its business in the event of a disaster.

"We have been using ProSight for nearly three years, and with this new release, Primavera has made it even more powerful and efficient," said Eileen Ahles, principal analyst and IT architect for SRP. "We can access information we need faster than before, and we can easily customize our analysis in ProSight so that we get data in the form we need."

New capabilities and features in this release of ProSight include:

-- Quicker, more informed decisions made through deeper levels of analysis with dependency tables that deliver insight into root causes of problems;

-- Up to the minute intelligence on the health of project investments delivered by new alerting capabilities;

-- Greater data compliance and integrity enforced through intuitive Web entry forms;

-- Improved accuracy of analysis provided by drop-down dependency values.

"ProSight helps organizations overcome the tremendous challenge of aligning key initiatives with strategy and then managing them to completion in today's highly complex and dynamic business environments," said Joel Koppelman, CEO of Primavera. "We continue to build ProSight and integrate it into our end-to-end PPM solution."

About Primavera

Primavera is a software company who provides business solutions for a project-driven world. The company helps organizations identify which projects are most important, and makes it easy for people to work collaboratively on those projects and deliver them successfully. Primavera solutions are industry specific and highly scalable, with the power to support global enterprises. Primavera solutions have ensured the success of projects collectively worth more than $6 trillion, including the management of IT projects that span the globe, the complex manufacturing of high tech products, construction of the world's tallest buildings, ongoing multi-billion dollar oil discovery projects, and space exploration. For more information, visit or call +1.800.423.0245.

Primavera and the Primavera sundial logo are trademarks of Primavera Technologies, Inc. ProSight is a trademark of Primavera ProSight Ltd. All other trademarks and service marks mentioned herein are the property of their respective owners.

(1) The Standish Group. 2004 Third Quarter Research Report: Chaos Research Results. 2004

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