UMT360 CEO Mike Gruia talked a bit about the history of UMT360 when he introduced Gartner’s Donna Fitzgerald recently at the Microsoft Project Conference in Anaheim. Below is his introduction during which he discussed UMT’s history in the evolution of portfolio analytics.
I’ve been fortunate to be involved with portfolio topics for the last 20 years. It started with a question from an executive at Chase Manhattan. I was there re-engineering the process of the trust business and he asked me what I thought would be next after re-engineering business processes. I said next will be the re-engineering of the investment in enterprise capabilities.
UMT led the project management transformation from project management focused mainly on scheduling to project and portfolio management concerned, not only with project execution, but also with the portfolio and alignment with enterprise strategy. The shift was not an easy one; we had to convince many people but some time after the new millennium, all agreed.
I’ve been fortunate together with my colleagues Catalin Olteanu and Ben Chamberlain, to be involved with bringing portfolio management to thousands of organizations. How did it happen? UMT portfolio management software and our team was acquired by Microsoft in 2006. I was thrilled to be part of the team that merged Project Server and the Portfolio Server into one product released in 2010 as Microsoft Project Server.
A few years later, the winds changed again and as a result of the financial crisis and the rapid emergence of new technologies like cloud, social, and big data, organizations are looking to grow. This time, they’re cautious with their spending and they want to see business results. Benefits realization started to emerge.
Again, like 15 years ago, we saw the focus change from isolated projects to, not just project portfolios, but also to total organization portfolios. I see a change in the horizontal addressing all investment – new projects and existing IT investments such as existing applications and infrastructure, or in the business side, assets and products. I see vertical aggregation where projects and current investments are aligned to achieve a common objective like customer satisfaction.
The shifts require a new set of models that allow you to see an integrated view of the enterprise or of certain objectives, strong financial analysis capabilities, and the ability to synchronize the huge change and create roadmaps. These shits along with the increased need for agile development and management require new thinking and new solutions.
UMT360 is please to be an Enterprise Portfolio Management solution leading the way and the only such solution built on SharePoint with seamless Project Server integration. Contact UMT360 to learn more.