Project Portfolio Management (PPM) is an emerging technology to support and enhance project investment decisions, patterned after the management of security portfolios in the financial industry. PPM has established a beachhead in the petroleum and energy industry, pharmaceuticals, and in the information technology field. Surveys by the leading technology research firms indicate more than 25 firms with product and service offerings on the market.
Less than a handful of these vendors offer an optimization capability, and those remaining rely on outmoded procedures. To remedy this lack, OptTek Systems, Inc., the leading provider of optimization software to the simulation market, has recently introduced an optimization technology to enhance PPM software (OptFolio).
OptTek’s optimization technology is currently integrated in the TERAS software, a PPM solution developed and marketed by Halliburton’s Landmark Graphics subsidiary, for applications in the energy and petroleum field. OptTek is also making its OptFolio technology available for applications in other industries and markets.
For additional information read Simulation Optimization: Applications In Risk Management.