Press Release Summary:
Intended for government contractors and other project-based businesses, Cobra 5.0 delivers tight control over project costs, insight into mission-critical project data, and ability to calculate and report on earned value. Program enables government contractors to manage impact of increased government oversight and provides key components of government mandated compliance programs. Reporting wizard outputs data directly into Microsoft Excel for editing and customization.
Original Press Release:
Deltek Announces the Release of Cobra 5.0
Cobra 5.0 makes it easier for government contractors to manage project costs and measure earned value in this new era of compliance
Herndon, VA - June 15, 2009 -- Deltek, Inc. (www.deltek.com) (NASDAQ: PROJ), the leading provider of enterprise applications for project-focused businesses, today announced the release of Cobra 5.0 (http://www.deltek.com/products/cobra/default.asp), the leading enterprise cost and earned value management solution for government contractors and other project-based businesses. By delivering tight control over project costs, insight into mission-critical project data and the ability to easily calculate and report on earned value, Cobra 5.0 helps organizations better manage project and program performance. In addition, Cobra 5.0 enables government contractors to manage the impact of increased government oversight and provides key components of government mandated compliance programs.
Earned Value Management (EVM) is a sophisticated project management methodology that has historically been used by a relatively small number of highly-specialized program controls professionals. With this new release, Cobra 5.0 couples the power to manage large, complex programs with the ease of use needed to help organizations quickly deploy a cost and earned value management solution and share earned value data across an organization. Cobra 5.0 offers a number of new capabilities including:
o New Intuitive User Interface: Using an interface that will be familiar to all Microsoft Office users, Cobra 5.0 is intuitive and easy to use allowing for shorter learning curves and greater user adoption.
o New Reporting Engine: Cobra 5.0 contains a reporting wizard that makes report generation a routine task for all users and outputs data directly into Microsoft Excel for easy editing and customization.
o New Technology: Built on Microsoft's .NET framework and Smart Client architecture, Cobra 5.0 eases the burden on IT resources with one-click deployment, and it eliminates the need for Citrix resulting in lower TCO.
o Integration Wizards: Cobra's integration wizards guide users through every step of accounting and schedule data integration to help ensure the most accurate data is readily available.
"With the release of Cobra 5.0, Deltek is again showing that it is focused on exceeding the expectations of its customers," said Michael Fauscette, Group Vice President Software Business Solutions for IDC. "Cobra 5.0 contains numerous functionality enhancements that greatly simplify the implementation and use of the solution, two common barriers to getting EVM programs up and running quickly. With the breadth and depth of their EVM offering, Deltek is extremely well-positioned to serve the needs of government contractors that must comply with increased government scrutiny."
In the last 6 months, the Federal Government has enacted laws to drive better project cost management with earned value and is considering lowering the dollar threshold for earned value requirements on projects. As a result of these government actions, more organizations will need to adopt a company-wide approach to measuring earned value. Cobra 5.0 uniquely meets the needs of both small and large government contractors who will use the solution to improve project management and program performance in this environment of increased accountability.
"Cobra 5.0 is a milestone release for Deltek," said Kevin Parker, President and CEO of Deltek. "Earned value management is a powerful methodology, and one that is of the utmost importance for government contractors in this new era of transparency. Cobra 5.0 was designed to make EVM easier to use, easier to deploy, and easier to standardize across an organization to ensure that the programs they deliver are on-time and on-budget."
Deltek® (NASDAQ: PROJ) is the leading provider of enterprise applications software designed specifically for project-focused businesses. For more than two decades, our software applications have enabled organizations to automate mission-critical business processes around the engagement, execution and delivery of projects. More than 12,000 customers worldwide rely on Deltek to measure business results, optimize performance, streamline operations and win new business. Visit www.deltek.com.