DataVelocity(TM) Expands Erudition(TM) Risk Reduction Suite With IT Portfolio, Providing Advanced Project Management.

WEST PATTERSON, N.J. -- Fifth Module in Erudition Lineup Ranks IT Projects According to Business Priorities; Powerful Staffing Tools Enable Managers to Assess, Allocate Workers Strategically

DataVelocity(TM), a leading provider of managed IT risk reduction services, today announced it has added a fifth module to its flagship Erudition(TM) risk reduction suite that greatly simplifies and enhances the IT project management process. The new module, called IT Portfolio, not only correlates and ranks potential IT projects to the organization's larger business goals, but also improves the planning and execution of projects through an array of powerful staff allocation tools.

IT Portfolio joins Erudition's existing modules--Navigate, Request, Analyze and Report--to create a total management solution for optimizing IT within the modern enterprise. The MSP (Managed Service Provider) suite is unique in the industry for its comprehensive, yet remarkably cost-effective approach to maintaining and improving applications, servers, and database systems.

IT Portfolio enhances Erudition's capabilities by elevating and justifying the selection of IT system upgrades. Unlike other project management tools, IT Portfolio ties possible system improvements to the enterprise's most critical and broadly defined business objectives, automatically providing a defensible basis for selection.

"In any IT management environment, the most basic challenge is how to apply department resources to greatest effect. IT Portfolio answers that question definitively," said Adam Warshaw, president of DataVelocity. "In today's business world, technology has to be service oriented. IT Portfolio begins by analyzing, defining and ranking potential projects according to any business driver, from profitability to innovation to cost reduction, then it improves the execution of chosen projects through a range of remarkably useful management features."

Strategic Execution

In addition to its project validation capabilities, DataVelocity's IT Portfolio module ensures exceptional project management. The application surpasses alternatives like Microsoft Project because it fundamentally recognizes that IT staffers have diverse skills and responsibilities.

"Allocating staff to a given project is a complex task. Technicians and developers, for example, are frequently shared among managers, while certain employees have unique skills that make them better suited than others for an upcoming project," Warshaw noted. "IT Portfolio addresses these fine distinctions and allows managers to schedule workers strategically."

IT Portfolio begins by generating an estimated completion timeline for a project. Based on this baseline schedule, it analyzes the skills and man-hours required, measures those needs against available staff, and recommends specific staff allocations. IT Portfolio is also unique in that it provides views for all the different levels, e.g. senior executive management, senior department management, line managers, and general staff.

Periodically (usually weekly), assigned project staffers are sent a web form where they list hours spent against various project phases. Maintenance hours and free-form time spent on ad hoc requests are also listed. With this information, managers can directly determine if the project is on schedule, as well as whether checkpoints are being met through the normal workday or via after-hours contributions. Such information not only keeps projects on track, but also greatly facilitates year-end reviews.

As work on the project progresses, IT Portfolio can analyze resources spent against the original timeline and generate real-time reports on request. After completion of the assignment, the application can automatically suggest changes to IT staff skill sets in order to ensure effective assignments on future projects.

Ala Carte Pricing

IT Portfolio, like all modules in the Erudition suite, are independent applications that can be applied in any combination. Each module supports close integration with sister applications to deliver maximum performance and value.

IT Portfolio will be available for use in mid January, 2006. For more information about IT Portfolio or any of DataVelocity's various Erudition applications, including pricing options, go to http://www.datavelocity.com.

About DataVelocity(TM):

DataVelocity is the IT industry's most trusted provider of IT risk management solutions. Using an MSP (Managed Service Provider) model, the company helps companies maximize its technology assets via its flagship service, Erudition(TM), comprised of five independent, yet integrated modules that can be applied on an ala carte basis. DataVelocity services are used by many mid-to-large corporations in the U.S. and beyond, providing hundreds of thousands of dollars of protection at a small fraction of the price. The privately-owned company is based in West Patterson, New Jersey. To learn more, visit http://www.datavelocity.com.