INFORMATION INDEPTH NEWSLETTER
Enterprise Project Portfolio Management Edition
Oracle Corp
July 2012 Stay Connected: TwitterFacebookLinkedInYoutube Blog
Back to the main page
Life Sciences Leader Covance Strengthens Its Portfolio Management Processes

Through business expansion and a series of acquisitions, Covance Inc., one of the world’s largest and most comprehensive drug development services companies, outgrew its existing project management infrastructure. As a result the Princeton, New Jersey, company needed to make changes to the governance methodology that controlled its project portfolio process.

Covance had clear goals for what it wanted to accomplish. In addition, to strengthening the governance process, the company also wanted to institute a staged-gate methodology in which each project would have to meet specified milestones and pass a review process before it could move on to the next phase.

With these criteria in place, Covance evaluated a wide range of solutions and chose Oracle partner Hyde Park Solutions, which implemented Oracle’s Primavera Portfolio Management to standardize the IT project portfolio governance processes.

“With Oracle’s Primavera Portfolio Management and our staged-gate methodology, we have transformed IT project portfolio management at Covance,” says Jason Davis, the company’s senior director of IT governance, portfolio management, and process excellence.

Improved Governance, Productivity, and Communication
In addition to providing stricter governance, the implementation has brought about a range of benefits for Covance, including
  • Enhanced project portfolio communication among stakeholders, such as business sponsors and IT personnel, to improve outcomes and reduce the need for rework
  • Improved productivity in staged-gate review meetings, with more than twice as many project reviews being completed in every session
  • Nearly paperless project portfolio review processes thanks to a dashboard view of projects and reviews via Web conference sessions
  • A significant increase in the number of gates in Covance’s methodology, which means greater control over larger projects
  • Improved project budget management, achieved by extracting information from Oracle’s PeopleSoft Financials and applying it to Primavera to determine actual project costs as compared with forecasts
“The fact that Oracle provides the database layer as well as the software was an attractive proposition,” Davis adds. “Primavera’s interoperability with other systems, such as Oracle’s PeopleSoft Financials, was also appealing to us. Oracle enables us to link project costs to the portfolio management tool, which was also an important part of the equation.”

Get more details about how Oracle’s Primavera Portfolio Management is aiding Covance.


Back to Top
Oracle Information InDepth newsletters bring targeted news, articles, customer stories, and special offers to business people who want to find out how to streamline enterprise information management, measure results, improve business processes, and communicate a single truth to their constituents.

Please send questions or comments to newsletter_feedback_us@oracle.com.

For answers to questions about subscribing, unsubscribing, and managing your Oracle e-mail communications preferences, please see the Oracle E-Mail Communications page.

Copyright © 2012, Oracle Corporation and/or its affiliates. All rights reserved. Oracle is a registered trademark of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

This document is provided for information purposes only, and the contents hereof are subject to change without notice. This document is not warranted to be error-free, nor is it subject to any other warranties or conditions, whether expressed orally or implied in law, including implied warranties and conditions of merchantability or fitness for a particular purpose. We specifically disclaim any liability with respect to this document, and no contractual obligations are formed either directly or indirectly by this document. This document may not be reproduced or transmitted in any form or by any means, electronic or mechanical, for any purpose, without our prior written permission.