There is an increasing need for enterprises to be agile and deliver results faster. Large organizations no longer have the luxury of time as during the initial days of the dotcom bubble. Planning & execution have to go together with quick visible results for all initiatives.
Hitting the ground running is the need of the hour.
The good thing is, enterprises understand that and have taken quite a few concrete steps in
- decentralizing operations
- reducing administrative overheads
- running initiatives in an iterative manner
- having small teams with specific goals
Well, that’s a good starting point. But how do we ensure all of these work cohesively, with minimum friction and real-time visibility of true progress for the executives?
Realizing the true benefits of the above approach needs an enterprise project management software that keeps everyone engaged right from the CXOs to the interns.
Picking just any enterprise project collaboration tool wouldn’t help. You must ensure the direct alignment of the chosen tool with that of your strategic initiatives and benefits.
And most importantly, one that helps you be agile & not fragile!
A 2018 PMI survey suggests
71% of organizations report greater agility over the last five years. More and more organizations are recognizing that agility—the capability to quickly sense and adapt to external and internal changes to deliver relevant results in a productive and cost-effective manner—is helping them stay competitive
Having established the above fact, let us review some of the benefits of a true enterprise project management tool.
Running project programs is more like rowing a boat. You do not reach the destination if all involved team members do not paddle in the same direction.
Motivated teams can move mountains. We all know that. And the key to unlocking it is to ensure they understand
- true objectives and business value to be delivered
- the value they add to the initiative or project at hand
(Source –Pulse Global Survey)
The most important aspect here is to ensure that the project management software allows for clarity of purpose. Everyone involved has well-defined roles and responsibilities and clear allocation of goals to be achieved.
With this, the teams understand their accountability and perform with a sense of ownership. All of which directly contributes to the success of the project at all levels.
Purposeful collaboration and streamlined communication is a must while running large scale initiatives across the organization.
It is commonly observed that the moment a project kicks off, multiple shared repositories, group emails, reporting portals, and whatnot are spun off on the fly.
For the very simple reason of not having one central enterprise project collaboration tool. Information is stored and shared in silos. Not everyone is aware of what to find, where and when.
As a result, precious time is lost at the time of critical issues where efforts are spent on gaining access to required info instead of solving the issue at hand. Information that should have been readily available in the first place.
(Source –Pulse Global Survey)
You cannot be swift in responding to P1 and crisis situation with such barriers.
Enterprise project management software brings your entire team on a single collaborative platform. So everyone can
- communicate in real-time
- brainstorm for quicker solutions
- find information in one central repository
- access reports and metrics in real-time
- monitor project progress and effectiveness transparently
Standardizing Project Management Practices
Without order, there is chaos! Standardizing your processes and adhering to them is key.
And it is a major critical success factor for large organizations who want to be agile and stay relevant in their segment.
Large organizations have multi-functional teams that need to adopt a project management methodology that is relevant to them. Be it agile, waterfall, Kanban; enterprise project management software supports them.
Thus teams not only have the freedom but also the right nuts and bolts to get to their goals conveniently.
A Pulse of the Profession study by PMI states:
93% of organizations report using standardized project management practices. Embedding consistent standardized practices reduce risk and lead to better outcomes, particularly when the use of these standardized practices are used throughout the organization. Yet 70% limit their use!
When you run projects, it is imperative to track and report on key KPIs and metrics.
Project management & collaboration tools help you standardize processes around
- time tracking
- resource allocation & utilization
- project expense tracking
- risk identification and management
- issues management
- KPI & metrics reporting
(Source –Pulse Global Survey)
“You cannot manage what you don’t measure” is more than a cliché. Enterprises and mass scale initiatives have failed due to lack of proper monitoring and measuring of their performance.
Project management practices are highly instrumental in standardizing the process for your projects and business.
And with an enterprise project management software, it becomes a lot easier for organizations to improve adoption & adherence of their processes with minimum resistance to change.
Steady focus on Benefits
“9.9% of every dollar is wasted due to poor project performance— that’s $99 million for every $1 billion invested!” – Pulse Global Survey
We are always pressed for time and quick results. While managing large portfolios with multiple programs and projects running simultaneously losing sight of the project goal is easy.
Keeping a tab on hundreds of tasks with an equal number of resources is not possible without a single pane of view. Out of sight, out of mind!
More important than that, if we lose focus on the very benefits we set to achieve then all is lost.
And the primary reasons are
- Too many gaps between strategy design and delivery.
- Unengaged Sponsors &Executives who fail to understand that strategy is delivered through projects.
- Lack of project management practices to turn the organization’s strategy into reality
If you take a deeper look at the above, there are multiple problems across all levels.
And all stem from the very fact that the true value of the benefits are not understood and recognized.
Enterprise project management and reporting software can help you immensely.
Detailed and real-time project reporting indicating
- true project progress
- portfolio health stats
- project profitability
- employee productivity rates
Easy to access project metrics will surely gather enough interest from the executives and ensure active participation.
Transparent and quick reporting dashboard acts as a lighthouse to keep us on track and eyes on the prize all the time.
On the other hand, when the teams involved seeing the progress of their work, they are further motivated to contribute more towards project success.
As the workforce continues to be extremely digital, diverse and increasingly mobile, adopting the right project management software becomes imperative.
Not that it is a rat race, rather the right thing to do in today’s technology-driven business landscape.
Moreover, these collaboration tools offer the convenience of time, a personal workspace so to speak & the comfort of being able to contribute even when away from the desk.
Thus resistance to adopting one is low and increases the trust factor between the organization and its employees. All of which points to increased motivation, alignment with business priorities, improved productivity & organizational maturity.
How mature is your enterprise project management? Do share your thoughts.