Plan, budget, and track project costs, revenues, resources, and workloads seamlessly in JIRA
We recently announced that FOLIO has joined the Tempo team, and will continue building its award winning portfolio management solution for JIRA. We are thrilled to develop this product with our new team members and to provide even further integrations with Tempo (more on that soon!).
FOLIO is Seamless Portfolio Financial Management for JIRA
Project managers, account managers, and executives constantly face the challenge of juggling resources (people and time), project scopes, and budgets — a well-known project management constraint triangle.
FOLIO helps solve this problem by enabling you to:
- Forecast and estimate on projects throughout your portfolios, and compare actual results in real-time.
- Define a financial plan, a scope, and a time frame through creating and managing folios (at the project and portfolio level).
- Get a complete overview of your project and portfolio scopes, statuses, and financial roll-ups (planned versus actual costs) in real-time.
- Plan and manage project resource allocation and capacity (with JIRA and JIRA Agile).
- View everyone’s tasks and workloads at a glance.
- Identify risks and over-allocations before they escalate, and immediately react to them. Know immediately if those changes have made an impact.
In addition, FOLIO offers financial reports with visual status indicators to measure and monitor project performance, allocation of team resources, and overall portfolio health at a glance.
What Problems Does FOLIO 7.2 Solve?
In response to customer feedback, our FOLIO 7.2 release includes a number of features and improvements to make planning and managing your folios even easier.
Label and Version Your Budgets With New Baselines Approve planned costs and revenues and compare planning scenarios with new baselines
Previously, project managers had only one baseline and no ability to save and compare drafts based on different scenarios. Changes to budgets affected the entire folio, and project managers would need to copy a folio to create and contrast different scenarios. There was also no ability to roll back any changes, and budgets had no approbation step during which project managers could approve them.
FOLIO’s new baselines enable a budget review and approval mechanism that will help you better keep track changes of your budgetary plans and compare different cost and revenue scenarios.
Approving a budget creates a baseline; in other words, it tags that version of the budget as being approved and saves it. From then on, all calculations including planned values to date, health indices, earned value, etc. will be based on that budget definition.
If some changes occur, or you want to explore additional budget scenarios, simply switch back to draft mode and continue editing. All changes you make after a budget is approved won’t affect the project’s financial and health status until you decide to approve the modified budget. If you’re not happy with the changes, simply discard them in one click.
Edit your Folio and Portfolio data inline with one click
Previously, to edit a folio or any of the portfolio fields, project managers had to go into the configuration screen and manually update them, which was a hassle.
Now, users can edit many key elements inline, including the folio’s name, associated scope, timeframe, effort field, custom fields, and more.
You’ll know when something is editable simply by hovering the mouse over a piece of information and seeing a pencil icon appearing.
Recover previously inaccessible private data with new Super Admins permission
Previously, without a superuser it was often difficult to recover orphan folios and portfolios, especially if its owner was no longer active.
Now, it’s possible for JIRA Admins to designate a Super Admin to your folios through the global configuration, who has administrative access to folios in the event a regular admin is out on vacation or has left the company. Super Admins can be JIRA users or groups, and they’ll have access to view and edit all Folios, so you’ll always have backup in case of emergency!
Ditch Traditional EVM (if you’d like to); measure project effort with Story Points instead
Previously, FOLIO did not allow users to represent the efforts of work Issues to be based on anything other than EVM (Earned Value Management) terms (Original Estimate).
If traditional EVM is not your thing, no worries. FOLIO supports Agile EVM initiatives as well. With this release, the former Earned Value Field has been renamed to the Effort Field and moved to the Scope tab in the folio’s configuration. Now, you can use any numeric issue field, including Story Points, and measure your project’s completion ratio and forecasts against them.
This means that you’re better able to track project scope and completion regardless of whether you’re using EVM.
Sort the Folios the way you’d like to directly in your Portfolio overview
Previously, users could only sort folios by implementing custom fields by default. This resulted in a lack of flexibility and visibility of relevant data.
Now, you can also sort and re-sort your folios at will, directly in the Portfolio’s Overview.
Simply click on the header of a column in the Summary section, and instantly sort your folios by name, owner, start date, end date, completion ratio, or status.
Learn about the improvements and fixes in the FOLIO 7.2 release notes.
FOLIO and integrates with both JIRA and JIRA Agile, and also integrates with our time tracking and reporting solution, Tempo Timesheets.
We’re constantly striving to improve our products with each release. Please keep your feedback coming so we can make them even better!
Upgrading FOLIO is free for all customers with an active license. New customers can purchase or evaluate FOLIO for JIRA Server through the Atlassian Marketplace.