The question sometimes comes up at project management events we attend, “What is ARES PRISM?” Project managers and PMOs ask us, “Is it cost management software? Risk management software or an ERP system? PPM software or project management software?”
ARES PRISM is a beginning-to-end project life cycle management solution for owners and contractors managing capital projects. PRISM is a cost management solution, but it is more than that. It absolutely helps to reduce project risks, but that’s not all. PRISM provides one single source of truth throughout the entire project life cycle, from capital planning and budgeting to project completion. Not many of our competitors can say that.
ARES PRISM – Cost Management Software?
To those who think PRISM is a cost management system: You’re right, cost management is the heart of PRISM, but just as projects are not all about managing costs, PRISM is not all about cost management. PRISM is also about measuring progress and performance, and the most objective way to do that is to dive into the project’s details. This is why ARES PRISM provides all your project management solutions: Cost Management, Engineering, Procurement, Contracts Management, Field Management, Estimating, Dashboards, Docs (our Document Management module) and our industry-leading Integrator module that bi-directionally connects other crucial systems already in use. Keeping track of the details provides for more accurate progress and performance data, which leads to more accurate forecast data. Additionally, ARES PRISM interfaces with other critical applications such as ERP systems like Oracle and SAP, and scheduling software like Primavera P6 and Microsoft Projects right out of the box.
PRISM is not financial management software. PRISM reports focus on progress and performance, as opposed to a financial management. We leave that to the accountants.
ARES PRISM – Risk Management Solution?
To those who wonder if PRISM is a risk management tool: Yes, PRISM does provide a risk register for identifying risk issues and using them to support more accurate forecasting. However, ARES PRISM is not a risk tool in the pure sense of the function, it does not calculate Monte Carlo simulations. That being said, ARES PRISM does integrate with software solutions that do perform Monte Carlo simulations.
ARES PRISM – Enterprise Resource Planning (ERP) Software?
ARES PRISM is very often the heart of organization’s project controls and overall project management. Enterprise resource planning is the integrated management of core business processes, and it’s what PRISM does. Yes, ARES PRISM is certainly considered an ERP system, and it allows for real-time data and process management, as well as the integration with other software, systems and technologies.
ARES PRISM – Project Portfolio Management (PPM) Software?
You can also call ARES PRISM a PPM system. As mentioned PRISM allows for real-time insight into projects and programs, and allows project managers and stakeholders to easily access and view project and program performance in report styles and views that makes sense and are up-to-date, enabling them to make better decisions with accurate information, faster. Our PPM solution is enterprise-ready and is able to help organizations scale their programs and increase collaboration while majorly reducing manual tasks, and automating consistent processes.
ARES PRISM – Project Management Information System (PMIS)?
ARES PRISM can also be considered a project management information system (PMIS). A PMIS helps to plan, execute and close project management goals and provide managers with the decision-making support needed in planning, organizing, and controlling projects. During the planning process, project managers use a PMIS for budget framework such as estimating costs. ARES PRISM performs these functions. Other major components of a PMIS include: Scheduling, estimating, resource management, project documentation management, data management, dashboards, collaboration, and project control– all of which ARES PRISM offers.
ARES PRISM – Project Management Software?
Lastly, to those who want to know if PRISM is project management software: A resounding “Yes!”. PRISM is project management software. After all, PRISM was written by project managers for project managers. ARES Project Management, LLC, has been providing project management services to major industry leaders for nearly 25 years. We’ve taken our employee’s practical and broad-based knowledge of project management and used it to develop a software solution which integrates Cost, Schedule, Estimating, Purchasing, Shipments, Contracts Administration, Engineering, Risk, and Construction data. Not only that, but with our Dashboards tool, you can integrate EH&S data to get a full, 360-degree view of your project’s health. ARES PRISM really is a complete project lifecycle management software.
We provide a single source of truth for our customers throughout the project life cycle so they don’t have to go anywhere else. All the data they need is managed and controlled in one source in essentially real-time. ARES PRISM simplifies project controls by delivering a dependable forecast and accurate views of project performance, allowing project managers to make better informed decisions. If you hear anyone asking, “Is PRISM cost management, risk management, ERP, PPM or project management software?” Tell them the answer is “Yes, and so much more!”.