Deltek Inc on Monday said it has releases its Cobra 5.0, the cost engine for Earned Value Management solutions for government and businesses.

It highlights the complete overhaul of the user interface; built on Microsoft’s .NET framework and Smart Client architecture, its reports are configurable and available in Excel for easy editing and customization, and have Microsoft Project 2007 integration.

This has been a major development and is the first of Deltek’s EPM products to transition to Deltek’s new architecture utilizing Microsoft’s Smart Client technology, the company said.

“It is a milestone release for Deltek,” said Kevin Parker, President and CEO of Deltek. “Earned value management is a powerful methodology, and one that is of the utmost importance for government contractors in this new era of transparency.

Cobra 5.0 was designed to make EVM easier to use, easier to deploy, and easier to standardize across an organization to ensure that the programs they deliver are on-time and on-budget,” and helps organizations better manage project and program performance.

It also enables government contractors to manage the impact of increased government oversight and scrutiny and provides key components of government mandated compliance programs.