No organisation can stay in a fixed state and remain a leader in its field: change is essential as new ideas and outside factors evolve. Change requires a structured vehicle to be delivered and the Enterprise Project Management Organisation is that vehicle. – David Dunning
- 90% of all organisations are unable to execute on their strategy due to lack of project management.
- Research on troubled projects showed that over 40% of projects performed by the surveyed organisations were troubled.
- An estimated 68% of corporate IT projects are neither on time nor on the budget, and they don’t deliver the originally stated business goals.
It is clear that corporations are challenged with managing project portfolios and aligning them with organisational objectives. Many organisations today are often quite good at managing individual projects or reasonable numbers of projects. But challenges arise when project numbers increase, become more complex, and must compete in an environment with constrained resources.
Project Management Offices (PMOs) have arisen within many commercial and government organisations to serve as project and portfolio process owners, financial stewards, and centres of expertise. Specifically, the following challenges are often commonly recognised:
- Increasing numbers of potential projects and programmes in which to invest
- Difficulty aligning projects and portfolios with organisational objectives
- Difficulty achieving consensus among competing stakeholders regarding project priorities
- Inadequate measurement methodologies to determine project benefits, costs and risks
- An overemphasis on project execution management, without due diligence on project portfolio selection and alignment
- More complex and challenging project constraints, to include budgets, personnel, risk, time, and compliance
What Business Wants
- Business Leaders constantly seek how to ensure visibility, accountability and transparency across the organisation’s project portfolio.
- They seek innovative ways to cope with tight budgets while still achieving organisation’s performance goals.
- Lack of enterprise-wide multi-project planning and control skills and tools.
- Projects are worked on individually, but overall company priorities aren’t necessarily supported.
- Projects are not actively and realistically tracked and managed throughout execution.
- Change, kill, or recover decisions are not made early enough.
The question is not whether your projects run into problems but “How can your organisational structure minimise project problems and help troubled projects recoup effectively?” Therefore establishing a well-aligned and effective Enterprise Project Management Office for your organisation is no longer a necessity but a must, to ensure attainment of corporate goals using standardised project management practices throughout the organisation.
- Improve alignment of projects with the organisation’s strategic objectives.
- Decrease in the rate of project failures.
- Eliminate ‘low value’ projects that are not aligned with strategy.
- Drive process compliance and enable repeatable project success.
- Increase cost saving per project and minimise financial, governance and other corporate risks.
- Maximise human resources through resource and capacity planning.
Enterprise Project/Programme Management Solutions
iCentra provides end-to-end Enterprise Project/Programme Management Solution that helps drive effective project execution within your organisation.
We have delivered value and result based solution across different industries. Let us improve your business performance. Contact us
The iCentra Team
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