Planview Expands Project Management Offering by Adding ProSight Portfolio Management

Partnership promises only project management solution that integrates corporate strategic guidance for projects and resources

PORTLAND, Oregon and AUSTIN, Texas — July 24, 2001 — ProSight Inc., a provider of portfolio management software and services for technology organizations, and Planview, an integrated project, service and resource management software solution provider, today announced a partnership that augments each company's respective offering, increasing customers' corporate focus on strategically relevant projects and resource allocation, throughout the enterprise. As a more complete enterprise portfolio management solution, the combination of ProSight's and Planview's offering gives companies a viable means of reducing risk, eliminating cost overruns and improving time to market.

"Choosing and executing the right projects — especially in these times of budget constraints — is paramount for all companies, as it will ensure both personal and corporate success," said Doug Lynn, vice president, META Group. "Portfolio management is proving to be an effective complement to project management, delivering a proven, efficient and cost-effective process for facilitating those difficult choices."

By enhancing the value of project management, Planview and ProSight can ensure that projects, service-level agreements and human resources are managed and delivered to optimize performance and strategic value. The initial agreement, which provides for a reciprocal referral program between Planview and ProSight, will serve as a starting point for the companies to explore additional partnership opportunities with each other. ProSight also offers implementation, reseller and original equipment manufacturer (OEM) partnerships, which are currently under consideration by both parties.

ProSight's portfolio management solution provides a means of managing and reviewing projects throughout the enterprise. The software and services provided by ProSight allow companies to choose the projects that are most valuable to corporate strategy, enhance communication and collaboration among disparate executive disciplines and business unit leaders, adjust the project pipeline based on changing corporate strategy, and illuminate the projects that are sapping needed resources.

"We are extremely pleased to partner with one of the leaders in project and resource management," said John Cimral, chief executive officer of ProSight. "The portfolio management process provides the strategic guidance, value assessment and risk reduction that greatly augment the project and resource management process for companies struggling with limited budgets. We find Planview's foresight-leveraging our pure portfolio management solution-to be a sign of the imminent need for this combined solution and are excited to begin helping both our customers and their customers expand their available toolset to better address the problems in today's business environment."

Planview Web Software improves how an organization plans, manages, tracks and shares work and resources. Planview provides a rich solution for internal IT and professional services organizations that includes human resource allocation, management of projects and service-level agreements, skills pipeline management, risk and change management, integrated time and expense accounting, resource search and allocation, and real-time access to a central repository of all work and resource data.

"We know from our many customers among the Fortune 1000 and Global 3000 that the CIOs and directors of IT are looking for ways to assign their extended resources with confidence on the initiatives that matter," says Gregory Gilmore, chief operating officer for Planview. "ProSight offers the de facto standard on portfolio management. We can now tie the metrics for work and resource usage, that Planview provides, into analysis on the overall health of the organization."

About Planview

Planview Web Software is unique in that it allows an organization to manage its work based on the availability and skills of its people, both present and projected, including contractors and other outsourced staff. Founded in 1989, Planview is the world leader in integrated project, service and resource management software and services to Global 3000 organizations. Allianz, Baltimore Life, Discover, Katun Corp., National City Insurance, Pfizer, Reuters, Volkswagen America, Zurich North America, and others make up the over 350 clients who have licensed more than 200,000 copies of Planview software. The company has headquarters in Austin, Texas, with field offices across the US, in Germany, the UK, Italy, Benelux and France. Planview is privately held, financially conservative, and has enjoyed ten straight years of profitability and increasing revenue. For more information contact Planview at www.Planview.com.

About ProSight

ProSight, a leader in portfolio management for technology organizations, combines software, services and knowledge resources to equip information companies with effective investment management, performance management, value visualization and strategic collaboration capabilities. Headquartered in Portland, Ore., ProSight supports a development facility in Jerusalem, Israel. ProSight is a privately held company with capital provided by the BRM Group, Orama Group, Prism Opportunity Fund and Sequoia Partners.For more information, please visit www.prosight.com.

Planview is a registered trademark of Planview, Inc. ProSight is a trademark of ProSight, Inc. All other product and company names may or may not be trademarks or registered trademarks of their respective companies.