Adrenaline and Cigital Join Forces to Rescue At-risk Large Tech Projects
Partnership Results in Joint Offering to Provide Project Recovery Services
Washington D.C./Dulles, VA - July 30, 2001 - The Adrenaline Group, Inc., a leading provider of high technology new product development and technology advisory services, and Cigital, Inc., the software risk management (SRM) solution provider that helps companies protect themselves from the business risks of software failure, today announced a joint service offering for large enterprises to rescue critical, large-scale software technology projects that are late, over budget or otherwise at risk.
According to market research, failed software projects account for half of the $300 billion that large U.S. companies spend annually on in-house software development. Overall, 74% of all software application projects fail or are significantly challenged. Additionally, the impact of defective software code on U.S. businesses accounts for as much as 45% of computer-system downtime, costing approximately $100 billion in lost productivity and repairs.
Technology Project Rescue will deliver software industry best practices in project management and software risk management to at-risk software projects. A Technology Project Rescue team of experts will work closely with both in-house and outsourced staff throughout the software development lifecycle to ensure project completion and delivery. The offering focuses on the essentials required to bring an at-risk project under control: business case analysis, risk assessment, project risk management, development best practices, build management, bug tracking and version control, software architecture, milestone scheduling, organizational development, requirements management, quality assurance testing, and software performance and assurance.
Cigital's CEO and president Jeffery Payne comments, "Technology Project Rescue offers our clients the in-depth, objective scrutiny and actionable recommendations required by project managers to get at the crux of the issues that surround floundering development projects. The leveraged strength of our partnership presents development managers with the holistic solutions needed to resuscitate their projects and avoid the losses associated with failure."
"In the industry today, fewer than 30 percent of development projects succeed on time and within budget. The software state-of-the-art is still very poor," states Adrenaline co-founder and CEO Scott McLoughlin. "To date, there has been little or no recourse for managers of these projects. With the Technology Project Rescue offering, Adrenaline and Cigital are fielding SWAT teams of software experts to directly attack the core of this problem, working side-by-side with our clients to recover valuable financial investments in human and technology assets."
The deployment of Technology Project Rescue is targeted at large, at-risk custom software development and integration projects where project execution can't be taken for granted and the organization can't function without successful implementation of the project. When the failure of an essential or mission-critical software development or integration project is imminent, the organization can suffer multi-million-dollar losses. If the project is late, over budget or doesn't meet the stated requirements, the result can be loss of profit, reduced productivity, increased liability exposure, and brand and reputation damage.
About The Adrenaline Group
The Adrenaline Group (www.adrenaline.com) is the leader in helping businesses build breakthrough, first-of-a-kind digital products and services that attract new customers and create competitive advantage. Adrenaline assists clients at each step of the new product development process-from ideation and prototyping to feature design, usability testing, software development and launch. Adrenaline's technology expertise includes high performance Web applications and infrastructure, wireless applications, XML based systems, speech technologies, distributed computing and data management systems. Adrenaline's Technology Advisory Services division performs internal technology audits, technical business case preparation and technical due diligence for investors and acquiring firms. Founded in 1997, Adrenaline has provided technology products and consulting services to over 70 corporate, venture backed, and early-stage clients including the National Association of Securities Dealers (NASD), Panasonic, Discovery Communications, Network Solutions, Venator/Foot Locker and WashingtonPost.com. The company is headquartered in Washington, D.C.
About Cigital
Headquartered in Northern Virginia, Cigital is the leading authority and industry visionary on Software Risk Management (SRM). Founded in 1992 on the simple, compelling premise that software must work, Cigital helps companies identify, analyze and reduce the risks of software failure - making their business operations and products more reliable, safe and secure. The Company delivers consulting services based on the Cigital AdvantageSM, a methodological approach to full lifecycle SRM that is grounded in research and proven in practice. The constant innovation of its world-renowned Cigital Labs keeps Cigital at the forefront of software development and deployment, helping to solve the problems that affect businesses today, and anticipate and avoid potential future trouble spots. With additional offices in Boston and Dallas, Cigital helps companies get their software under control so they can take charge of their business. Learn more about Cigital on the Web at http://www.cigital.com.
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