BELLEVUE, Wash., May 25, 2004 — Pacific Edge Software, a provider of Enterprise Portfolio Management solutions for managing investments in technology and new product development, announced that Austin Energy, the nation’s tenth largest municipal electric utility, will be using Pacific Edge Software solutions to ensure all projects and programs are in strict alignment with the organization’s overall strategic initiatives.
The company delivers utility solutions to over 360,000 customers in the city of Austin, Travis County and parts of Williamson County.
“The utility business is one of the most complex industries in North America, facing many regulatory and economic challenges,” said Zarko Sumic, Vice President, Energy Information Strategies, META Group.
“By incorporating an enterprise-level portfolio management approach into strategic and operational decision-making processes, utility companies will have the means to better understand the risk-adjusted financial and human resource impacts when making decisions and be able to evaluate the actual benefits achieved by those decisions.”
Austin Energy and Utility Industry Challenges
Today, the electric utility industry is facing monumental changes, which will redefine the industry over the next 20 years. With more distributed activities, including energy generation, companies are forced to be more methodical in building new processes to address decentralized generation of energy, deregulation, resource availability and overall system reliability.
Austin Energy began creating a framework for the future — including the formation of a Project Management Office (PMO) and a formal project management practice.
Creating the PMO with internal procedures and policies and integrating a software solution enabled them to create business goals, performance indicators and a scorecarding process.
Austin Energy’s implementation of a portfolio management process and tool enables the company to effectively manage the diverse requirements of the overall organization, while also realizing financial gains that can be used to create new business opportunities. The company is using the Enterprise Portfolio Management solution from Pacific Edge to help assess and manage corporate initiatives based on a complex set of criteria that includes business goals, scorecard and specific performance indicators as developed by Austin Energy.
The Pacific Edge solution allows the PMO to objectively manage the project selection process and ensures all decisions are aligned with the company’s long-term strategic goals. The result is a ranking and scoring process that is in alignment with future directions.
“As a publicly owned power company, Austin Energy is faced with the challenge of staying ahead of the monumental changes the electric utility industry is facing, at the same time taking a significant role in defining the new industry, and culminating as a leader in the newly defined market,” said Andres Carvallo, CIO of Austin Energy. “The Pacific Edge solution greatly assists the decision making and risk management processes to ensure we are focusing on the right mix of programs and project initiatives to prepare for this dramatically changing landscape.”
Pacific Edge Enterprise Portfolio Management
Pacific Edge’s Enterprise Portfolio Management software solutions focus on providing the capability to manage major investments in Information Technology, new product development and a variety of corporate initiatives via strategic planning and analysis to measure business value. The company’s solutions enable organizations to consider business investment opportunities in terms of their contribution to overall corporate objectives, weighing and balancing risks and rewards, and enabling the rapid adjustment of the portfolio based on performance and changing business needs, much like a fund manager does for financial investments.
This makes it possible for companies to make solid decisions that support the organization’s long-range strategy, reduce costs by identifying redundant, low value or non-strategic initiatives; increase the return on their enterprise portfolios through improved selection, prioritization, sequencing, and governance of corporate investments; and optimize the use of critical resources by focusing on the most valuable business initiatives.
About Austin Energy
Austin Energy is the 10th largest public power utility in the nation providing low cost reliable power to the capital city of Texas, home to the country’s third largest concentration of high tech industries and the nation’s largest university. Austin Energy is a recognized industry leader in conservation and renewables offering the most comprehensive residential and commercial energy efficiency programs in the nation including the first and largest Green Building program.
For the second year in a row, Austin Energy’s green power program (GreenChoice) is the #1 utility-sponsored green power program in the nation based on sales. In addition, the utility is active in the use and management of distributed generation operating the first fuel cell in Texas tied directly to the electric grid and soon to operate the largest module combined heat and power plant in the nation.
About Pacific Edge Software
Pacific Edge Software, www.pacificedge.com, is the leading provider of Enterprise Portfolio Management software for global organizations, providing closed-loop management solutions to maximize value and reduce costs in investment, project, asset and product portfolios. Pacific Edge’s business-critical solutions include enterprise software products, professional services, industry specific templates, and a proven portfolio management process.
Pacific Edge customers include industry leaders such as, Alcon, Brigham Young University, Costco, Dell, Honda, and Johnson & Johnson.
Founded in 1998, Pacific Edge is headquartered in Bellevue, Washington and is privately held. Investors include Foundation Capita, Sequoia Capita, Northwest Venture Associates and Fluke Venture Partners.