Guest Post by
Rajan Gupta, Senior Consultant for Manufacturing, Oracle practice, Infosys Limited
Cloud computing model is a new buzz and has huge potential to change the way that IT services are being run and provided in the company. Cloud computing is also a key answer to reduce cost of managing IT operations in the company. There has been tremendous shift from client-server / hosted systems to systems which can be available to all users around the globe at all times and anywhere. Before I talk much about cloud, let me give brief overview of Cloud.
Basic understanding of Cloud model-
Cloud computing model means that provider will provide a grid of networks, servers, storage, applications, and services to companies who want to use the space to run their IT related business functions. Advantage of Cloud computing is that it can be available to end users using web browsers and therefore the only requirement from end user prospective is that user just needs an internet access and web browser. In the traditional system, implementing any software or application involves lot of capital investment by the company which over a period of time gets depreciated. However, going to cloud help companies to reduce lot of cost as Cloud is based upon subscription model which means that you pay for what you use. That way that Cloud model not only helps in reducing hardware cost but also reduces IT maintenance cost which is mainly to pay IT professionals maintaining the systems. Another point to highlight is that companies do not have to wait for long time of requisitions, purchasing software/hardware, approvals, managing team of IT professionals and then implementing software which sometimes takes years to make IT operations running. Cloud helps companies to allow users to access the system in weeks instead of waiting for so long and hence the deployment time of application is much reduced.
There are 5 essential characteristics of Cloud model as provided by NIST(National Institute of Standards) - On-demand self-service, Broad network access, Resource pooling, Rapid elasticity and Measured service. Cloud is built on three service models- Software as a Service (SaaS), Platform as a Service (PaaS) and Infrastructure as a Service (IaaS). There are five deployment models available in cloud-Private Cloud, Community Cloud, Public Cloud, Hybrid Cloud.
Now coming back to Project Portfolio management Cloud services. As per recent independent analysts report, senior executives of the IT enabled companies are finding approaches to improve the PPM business functions in an optimal way. There is a huge demand from companies to provide mainstream PPM software functionality that can reduce budget and take lesser time to implement the application and at the same time provide all PPM stakeholders all the intended functionality. Oracle Fusion Project Portfolio Management Cloud Service offers complete integrated solution to provide deep insight to the Project managers and executives. Exception based transaction system, intelligent dashboards, role based access and integration with other financial modules provides customers a deep advantage in managing projects in an organization by providing the simplified business process. Cloud based application services enable users to manage project without IT involvement. Oracle Fusion Costing, Contracts and Billing, Resource Management and Project Management are all on Cloud and also provide 2 environments - one for production and one for staging purpose. Cloud model coupled with Oracle Fusion Project portfolio provides simplicity in managing and using the application, enabling portability and leading to productivity in managing the projects which thus leads to profitability of the organization.