By Melissa Centurio Lopes on Oct 18, 2013
In the wake of the global financial crisis, organizations
throughout the world are redoubling their efforts to enhance financial
discipline, achieve operational excellence, and mitigate risk. How can they
address all these areas with one comprehensive strategy? With enterprise
project portfolio management solutions that provide greater transparency and
visibility across all projects and portfolios, says Guy Barlow, Oracle director
of industry strategy. In the following interview and in an exclusive,
three-part webcast series, Barlow examines today’s new management realities and
explains how organizations can succeed in this environment.
Q: Financial discipline has always been important, what’s different today?
A: A number of organizations are showing that by fiscally aligning projects with the business goals of their organizations, they can shave off hundreds of thousands if not millions of dollars in inefficiency and waste. For example, one Oracle customer, the Columbus Regional Airport Authority, reduced its unbudgeted costs from US$24.4 million to US$3.5 million, for an 88 percent improvement.
Q: How do organizations achieve results like this?
A: First, they need to have the vision to see project management as part of a broad and critical element in their overall enterprise strategy. That means using a single solution, such as Oracle‘s Primavera, to manage multiple projects across multiple functions within a company. So someone in corporate mergers and acquisitions as well as a capital projects team can standardize on the same technology. By doing so they all gain greater efficiency in planning and execution—because the technology can be configured for their specific roles and needs—and the IT organization really benefits from lower maintenance.
Second, enterprises must give executive leaders—CFOs, COOs, and CEOs—visibility across the entire business to easily see what projects are on track and which ones are falling behind. In fact, once executives see the power of enterprise project portfolio management, uptake is very quick across the organization.