Thursday Oct 18, 2012

Survey Probes the Project Management Concerns of Financial Services Executives

Do you wonder what are the top reasons why large projects in the financial industry fail to meet budgets, schedules, and other key performance criteria? Being able to answer this question can provide important insight and value of good project management practices for your organization.

According to 400 senior executives who participated in a new survey conducted by the Economist Intelligence Unit and sponsored by Oracle, unrealistic project goals is the main reason for roadblocks to success

Other common stumbling blocks are poor alignment between project and organizational goals, inadequate human resources, lack of strong leadership, and unwillingness among team members to point out problems.

This survey sample also had a lot to say about the impact of regulatory compliance on the overall portfolio management process. Thirty-nine percent acknowledged that regulations enabled efficient functioning of their businesses. But a similar number said that regulations often require more financial resources than were originally allocated to bring projects in on time. Regulations were seen by 35 percent of the executives as roadblocks to their ability to invest in the organization’s growth and success.

These revelations among others are discussed in depth in a new on-demand Webcast titled “Too Good to Fail: Developing Project Management Expertise in Financial Services” now available from Oracle.

The Webcast features Brian Gardner, editor of the Economist Intelligence Unit, who presents these findings from this survey along with Guy Barlow, director of industry strategy for Oracle Primavera. Together, they analyze what the numbers mean for project and program managers and the financial services industry.

Register today to watch the on-demand Webcast and get a full rundown and analysis of the survey results.

Take the Economist Intelligence Unit benchmarking survey and see how your views compare with those of other financial services industry executives in ensuring project success.

 Read more in the October Edition of the quarterly Information InDepth EPPM Newsletter

Sunday Apr 01, 2012

Building in Change: Project Construction in Asset Intensive Industries

According to a recent survey by the Economist Intelligence Unit, sponsored by Oracle, only 51% of project owners rated themselves as effective at delivering their projects to scope, budget, and schedule when confronted with change. In addition only 43% rated themselves as effective at anticipating potential change.

Even with the best processes and technology in place, change is often an unavoidable part of the construction process. How organizations respond to change can mean the difference between delays and cost overruns, and projects being completed on schedule and on budget.

Implementing Enterprise Project Portfolio Management and using a solution to help manage and automate those process can help asset intensive organizations:

  • Govern project and program compliance and regulatory requirements for project success
  • Unite project teams and stakeholders through collaboration and strong feedback methods to speed project completion
  • Reduce the risk of cost and schedule overruns and any resulting penalties to deliver on time and on budget
  • Effectively manage change throughout the project life cycle
  • Ensure sufficient capacity, utilization, and availability of people, skills, and other resources to meet commitments.

The results of the recent EIU survey, sponsored by Oracle:"Building in Change: Project Construction in Asset-Intensive Industries", will be revealed in an upcoming webinar with Hart Energy / Oil & Gas Investor, featuring the Economist Intelligence Unit and Oracle on April 11th at 1pm CST.

Click here for further information or visit http://www.oilandgasinvestor.com/

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