Addressing the current economic crisis, local enterprise project management (EPM) solution provider UMT SA is offering project and portfolio management solutions to assist management with making calculated decisions in terms of spend.
While project and portfolio intelligence allows businesses to better plan and consolidate its efforts with the assistance of dashboards, it also enables management to measure spend across departments.
UMT SA CEO Pieter Meyer says although business intelligence (BI) is regarded by most executives as a business critical tool, there is a new wave linking the value of business intelligence to project portfolio management, assisting executives to make intelligent business decisions.
“Traditionally, line management managed the control spend from a strategic perspective, but spend across head of departments is still difficult to control due to ownership and accountability.”
The global trend, to survive the recession and to ensure long term sustainability, is for organisations to align strategic objectives with effective delivery of projects. Efficient project delivery has been highlighted with the recession, ensuring that companies spend less, deliver on time and deliver quality products and solutions.
“Improving delivery and reducing spend, especially during the current competitive business climate, can be determined by an organisation's ability to efficiently align resources and business activities with strategic objectives and could mean the difference between success and failure,” he explains.
Organisations are increasingly managing their activities and processes as projects, ‘projectising’ the business – to closely monitor performance and make better business decisions about the overall work portfolio. By planning and tracking projects with clarity and precision, organisations can respond with greater agility to the demands of a fast-changing business environment.
Companies still tend to restructure or realign their strategic direction to cater for the demands of rapidly changing business processes and technology. This tendency could result in project management efforts being ignored. Approximately 75% of companies do not align their mission critical objectives with their existing efforts in project management. Projects must be consistent with an organisation’s long-term goals and all projects should be done to improve businesses and should have a business rationale from the outset.
Meyer says the success or failure of a project should be traced back to the strategic business plan or to a balanced scorecard matrix. “Although companies are changing from a functional to a more process driven environment, no changes are being made to the project management process.”
UMT SA focuses on project intelligence by collecting and consolidating relevant data and enabling processes to support management with their decision-making process through dashboard reports, practical day to day collaboration, workflow management and linking project and portfolio management to strategic business value.
In conclusion, project intelligence will assist executives, middle management and programme managers to consolidate initiatives to make sound business decisions that will save money and deliver maximum value to ensure sustainability.