What business pains does your organisation experience while trying to run projects? This is the question with which we started a recent webinar that we co-presented with Microsoft on behalf of the APM to an audience of 300+ delegates. However before we answered it, we took a step back and reflected on some key research findings:
- 58% of organisations don’t have an innovation strategy
- 68% of organisations don’t align projects to corporate or strategic goals
- 57% of projects fail due to a breakdown in communications
So, which of the above pitfalls can you relate to within your organisation? How much of a difference can we make by attacking these pain points? Well, on the flip side:
- Organisations with an innovation strategy achieve 13% higher 5-year CAGR*
- Organisations that align projects to corporate or strategic goals achieve 17% higher 5-year CAGR*
- Organisations with effective project communication see a 17% increase in the number of projects being completed on budget
* CAGR: Compound Annual Growth Rate
Continuing with research data we also looked at the findings of a survey titled “Project Management: the State of the Industry” where a wide range of organisations were quizzed about the biggest PM pains they face, the survey said the most significant pains were:
- Inconsistent approaches to managing projects (63%)
- Resource Management (60%)
- Strategic Alignment / Too Many of the wrong projects (48%)
- Project Visibility / Reporting (37%)
Again, which of the PM pains can you relate to within your organisation? From our experience all of the organisations we engage with will be able to relate to these findings and are keen to take some action to address them.
[ribbon_new header=”h2″ style=”light”]Improve your Project Management[/ribbon_new]So how do you improve your approach to projects and reduce the pains? There are a number of initiatives any organisation can establish. Rather than taking a piecemeal approach we strongly encourage our clients to look at the wider picture and plot a course for improving project management maturity. Rather than sending some PMs on a PRINCE2 course, or designing a new Status Report…let’s take a more holistic approach to this problem.
First and foremost, an organisation must establish a practical fit-for-purpose project management methodology and governance processes. Once this is established, it’s vital that everyone involved in projects adheres to it, without it you lose the consistent approach you were initially striving for, which in turn impacts on the other anticipated benefits i.e. improved resource management, enhanced collaboration, better alignment and real time visibility!
Organisations that do achieve success do so normally through the successful implementation of a Project and Portfolio Management solution which underpins their desired way of working whilst also delivering against the other desired benefits.
A PPM Solution can become the catalyst for change, driving consistency and enabling the efficient establishment of governance processes. There are many benefits that can be driven by implementing a PPM solution, provided it’s done in the right way; our mantra being “keep it simple” and “keep it practical”.
Helping organisations to address their project management pains and increase project success is something that we’ve been undertaking for many years as preferred Microsoft Gold Partners.
Over the next few months in WPM News we’ll be publishing a series of articles to highlight how Microsoft PPM can help address typical pain points. Next month we will start with improving consistency.
Read the articles in the Poor Project Management series:
1) Inconsistent Approaches
2) Resource Management
3) Project Reporting
4) Strategic Alignment