Oracle has released three new packages for its cloud-based Primavera set of enterprise project portfolio management (PPM) services. PPM software is used by organizations to manage large-scale projects, providing a way for managers to keep track of deadlines, resources, budgets and potential areas of risk for multiple projects.
The new packages address the needs of organizations that must comply with an increasing number of regulations while under pressure to modify their business processes more rapidly to respond to changing market needs, according to Oracle.
Oracle bought the Primavera PPM software in 2008, when it acquired the company of the same name. It now offers the Primavera portfolio as either a software package to be run in-house, or as a cloud service.
The Business Process Portfolio Management Cloud Accelerator was designed to help financial institutions manage a series of projects while complying with industry-specific regulations. With these customizations, a bank could use Primavera to oversee numerous new initiatives, ensuring that they stay under budget and are staffed with adequate personnel.
Government agencies at the local and the federal levels are addressed in another package, the Public Infrastructure Monitoring Cloud Accelerator. The software can be used to trace multiple sources of funding, including donations, foreign investments and public private partnerships.
For the engineering and construction business, Oracle has prepared the Contract Management Cloud Accelerator, which offers a series of reports and forms customized for that industry. The package also provides a way to quickly ramp up reporting and documentation for a new project, a vital feature for companies taking on numerous short-term projects.
Oracle announced the new cloud packages at the Oracle Industry Connect user conference, being held Wednesday in Washington, D.C.
Joab Jackson covers enterprise software and general technology breaking news for The IDG News Service. Follow Joab on Twitter at @Joab_Jackson. Joab's e-mail address is Joab_Jackson@idg.com