Some have asked, what is PRISM? Is it cost management? Risk management? Project management software?
The truth is that PRISM is an end-to-end project life cycle management solution for owners and contractors managing capital projects. It isn’t just a cost management solution. It doesn’t just reduce project risks. It provides one source of truth throughout the entire project life cycle. From capital planning and budgeting to project completion. Not everyone can say that.
So, to those who think PRISM is a cost management system: Yes, 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 get into the details. That’s why PRISM provides Cost, Engineering, Procurement, Contracts, Field, Estimating, Dashboard, Docs and Integrator modules. Keeping track of the details provides for more accurate progress and performance data and from that, more accurate forecast data. Also, PRISM includes out-of-the-box interfaces with other critical applications such as ERP systems like Oracle or SAP or scheduling software like P6 and MSP. So, PRISM reports focus on Progress and Performance as opposed to a Financial Management. We leave that to the accountants.
To those who think 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. But, PRISM is not a risk tool, in the pure sense of the function, as in calculating Monte Carlo simulations. However, it does integrate with software that does.
And finally, to those who think PRISM is project management software: 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 clients such as NASA and the DOE for over 20 years now. 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 the project health. Now that’s a complete picture!
So, is PRISM cost management, risk management, or project management software? The answer is “yes, but that’s not all”. We provide a single source of truth for our customers throughout the project life cycle so you don’t have to go anywhere else. All the data you need is managed and controlled in one single source. PRISM simplifies project controls by delivering a dependable forecast and accurate views of project performance so that project managers like you can make informed decisions.