Delivering Project Profitability
On Time and Under Budget
Project-based businesses face a variety of challenges in driving profitable business. These challenges are as diverse as the products and services offered, yet all strive for a common goal of delivering projects on-time and under-budget. As the number of moving parts increases, so does the difficulty in maintaining visibility and control. This report explores the extent to which the added visibility and control afforded by enterprise level project management tools can directly impact the profitability of projects and the businesses that rely on them for growth and profit.
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The value of defining and implementing standardized project management best practices is clearly understood across all maturity classes. Indeed we see very little differentiation in strategies of the Best-in-Class and those that have not yet achieved this level of performance. Clearly successful execution of these strategies weighs heavily in measuring success.
Apart from the clearly dominant strategic action to define and implement project management best practices, we see a mix of strategies blending technology with management approaches and methodologies. Indeed technology investments outweigh the implementation of any of the project management methodologies by a margin of 30%. See Figure 3 below for more information:
How Demand Metric Can Help
If you need to improve your project management competencies, check out the following templates:
Project Management Maturity Assessment
Project Decision and Scoring Template
Product Process Development Model
Project Charter Document Template
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