There’s little doubting that the gradual economic recovery of the last few years is something we’re all pleased about. However, while we’re returning to growth, business remains cautious about making long term investments when it’s still not clear what’s around the corner. This is true for almost any part of a business – from physical infrastructure, to marketing and, perhaps most significantly, in IT. There are a range of preconceived notions about IT projects being expensive, disruptive and having hard to measure Return on Investment (ROI).
This apprehension is perfectly understandable – but we also know that investment is essential for long term growth. Deploying new tools and solutions can boost productivity, cut costs and make your company more efficient. However, no one wants to spend big on enormous IT projects where the company will only begin to see benefits two years (or more) down the line. This kind of project feels sensible in times of plenty, yet is less than a sure bet when times are tight. Continue reading >>
Implementing EPM solutions brings the PF Team into close contact with dozens of organisation’s PM groups and hundreds of PM professionals every year. One thing we discover time-and-again is that the key problem, often frustrating attempts to gain control of initiatives, is an inability to plan effectively and to deal successfully with the “unknowns” or uncertainties that planning encounters.
In general, PF’s customers are not dealing with environments of extreme uncertainty where a learning-by-doing approach might be required as a substitute for the efficient execution of plans. In fact, in most clients, projects are operating within the context of programmes and portfolios and it is desired and expected that project execution will proceed, as far as possible, in line with plan. Naturally so, as projects which execute far out of tolerance introduce considerable turbulence into Programs and Portfolios which greatly hamper their success.
Importantly too, although often unrecognised, such projects also hamper attempts to maximise strategic alignment and hamper efficiency by undermining the introduction of important organisational competencies such as Resource Management for example. Continue reading >>