CIMdata, a Product Lifecycle Management (PLM) consulting and research firm has released an updated review of Industrial and Financial Systems’ (IFS) Project-Based PLM support program. This paper provides an independent and unbiased review of IFS’ PLM-related software solutions, with a specific focus on their solutions’ “Project-Based Solutions” capabilities. A description of IFS and its solution offering is provided, along with a discussion of the key role that project management can play in an enterprise’s PLM strategy, especially for those enterprise’s that demonstrate Project-Critical, Project-Centric, or Project-Enabled characteristics.
Additionally, CIMdata provides an assessment of IFS’ PLM solution offering for Project-Based enterprises and a description of how IFS is supporting its offering from a business perspective. Finally, the paper contains two user testimonials that are based on interviews that CIMdata conducted with specific IFS clients. This program review is an assessment of IFS’ solutions that provide Project-Based PLM support and not meant to describe IFS Applications in total.
According to Peter Bilello, CIMdata Vice President, “The ability to execute projects effectively is important in all industries but none more so than in the construction and capital equipment industries, whether defense or Engineering, Procurement, Construction and Installation (EPCI) contractors, or for that matter, many discrete manufacturers that are project-driven.” Both the construction and capital equipment industries are characterized by the need to engineer an asset or a piece of equipment to order, or to contract and manage the process by which the contract is agreed and the asset or product is developed and then supported throughout its lifecycle. “Either way, these companies must accomplish this in a manner that minimizes financial risk and achieves predicted profits. Doing this in an optimum manner is no simple task.” added Mr. Bilello.
“Our research and experience,” said Mr. Bilello “clearly indicates that the success of a project is built on the development of accurate cost estimates, in much the same way as in project-driven manufacturing companies, which in turn are based on a well-defined project scope and work schedule that are well managed and monitored, and are sensitive to changes and limitations of resources and other work items.” Mr. Bilello emphasized the importance of treating cost estimating, project scheduling, and project cost control as an integrated process rather than a disjointed set of activities. “A key challenge when trying to develop this integrated process is the management of information and the association of that information to the tasks that create and use it.”
CIMdata finds that IFS has a broad and comprehensive family of business applications that meet many of the specific needs of today’s Project-Based companies in key functional areas of their operationsfrom contract management to project management, and from engineering and manufacturing to finance and human resource (HR) management. IFS also has an impressive range of customers within the Project-Based manufacturing and the construction, contracting, and engineering industries utilizing its solutions. The program review is available for free download from CIMdata’s web site
Sep 10, 2009
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