Tuesday Aug 06, 2013

Why Government Agencies Need to Prove Value

By: Amy DeWolf

From the fiscal cliff to the current sequester, government agencies are operating in a period of fiscal uncertainly. At best agencies will have flat year-on-year budgets, barely keeping up with the rate of inflation. At worst agencies will face deep budget cuts. While many agencies are already reducing waste, cutting back on training, and increasing efficiencies, this new environment of constrained budgets and stricter congressional oversight will require agencies to provide real proof of ROI.

In a new Economist Intelligence Unit research report, Proving value in an age of austerity: A new normal for US government programmes, they discuss three steps federal  agencies need to accomplish to prove value and accommodate this new environment:

  • Demonstrating Value
  • Doing more with Less
  • Producing Incremental Value

Read the full article here

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

Friday Sep 07, 2012

How to Reap Anticipated ROI in Large-Scale Capital Projects

Only a small fraction of companies in asset-intensive industries reliably achieve expected ROI for major capital projects 90 percent of the time, according to a new industry study. In addition, 12 percent of companies see expected ROIs in less than half of their capital projects.

The problem: no matter how sophisticated and far-reaching the planning processes are, many organizations struggle to manage risks or reap the expected value from major capital investments.

The data is part of the larger survey of companies in oil and gas, mining and metals, chemicals, and utilities industries. The results appear in Prepare for the Unexpected: Investment Planning in Asset-Intensive Industries, a comprehensive new report sponsored by Oracle and developed by the Economist Intelligence Unit.

Analysts say the shortcomings in large-scale, long-duration capital-investments projects often stem from immature capital-planning processes. The poor decisions that result can lead to significant financial losses and disappointing project benefits, which are particularly harmful to organizations during economic downturns.

The report highlights three other important findings.

Teaming the right data and people doesn’t guarantee that ROI goals will be achieved. Despite involving cross-functional teams and looking at all the pertinent data, executives are still failing to identify risks and deliver bottom-line results on capital projects. Effective processes are the missing link.

Project-planning processes are weakest when it comes to risk management and predicting costs and ROI. Organizations participating in the study said they fail to achieve expected ROI because they regularly experience unexpected events that derail schedules and inflate budgets. But executives believe that using more-robust risk management and project planning strategies will help avoid delays, improve ROI, and more accurately predict the long-term cost of initiatives.

Planning for unexpected events is a key to success. External factors, such as changing market conditions and evolving government policies are difficult to forecast precisely, so organizations need to build flexibility into project plans to make it easier to adapt to the changes.

The report outlines a series of steps executives can take to address these shortcomings and improve their capital-planning processes. Read the full report or take the benchmarking survey and find out how your organization compares.

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/

Monday Jan 02, 2012

How effective is your company at capital planning?

Asset-intensive industries are presented with many challenges when it comes to effectively managing the capital planning process. And failing to make good decisions when the stakes are high can lead to huge financial losses. Is your company making good investment decisions?

A recent survey by the Economist Intelligence Unit, sponsored by Oracle, found that:

  • Only one in ten companies in the utilities, oil & gas, chemicals and metals & mining industries consistently achieve the expected return on investment on capital projects
  • 47% of executives surveyed rate their organizations as "effective" at planning, prioritizing and selecting capital investment opportunities, and just 8% say they are "extremely effective"
  • Fewer than one in five organizations involve program managers in capital investment planning decision-making

With the cost of projects running into the millions, and even billions of dollars, the stakes have never been higher: timelines are long, investments are huge and lifecycles are even longer. Good decision-making in the planning stages can have a tremendous impact on the bottom line and mean the difference between the success and failure of a project.

How does your company compare? Take the EUI five-minute benchmarking survey to find out. See how your views of the capital planning process compare with those of more than 425 asset-intensive industry executives around the world.

Wednesday Dec 14, 2011

How Mature Financial Services Firms Deal With Troubled Projects

Project Oversight in Financial Services

In today's uncertain global economy, firms must execute projects flawlessly or risk losing market share, eroding customer confidence or failing foul of regulatory compliance. Few financial services firms can afford to let their projects underperform. Those that do risk damaging their bottom line, their reputation and their market share.  But according to an Economist Intelligence Survey, only 17% of financial services organizations deliver projects on time - and only 20% deliver projects on budget - at least 90% of the time.

The smartest financial services firms use formalized project management practices to gain strategic and regulatory advantages. The Economist Intelligence Unit, in partnership with Oracle, conducted new research that will help financial services executives ensure successful governance of project portfolio planning and execution, and avoid failure. 400 Senior executives in the financial services industry were interviewed and asked for their views on how to achieve greater success. The key findings are highlighted in a report and discussed in a webcast. You can also benchmark your own performance by completing the EIU Benchmarking Survey" Project Oversight in Financial Services".


About

Information and insights on EPPM trends and best practices.

Stay Connected


Twitter

Search

Archives
« April 2014
SunMonTueWedThuFriSat
  
1
2
3
4
5
6
7
8
9
10
11
12
13
15
17
18
19
20
21
22
23
24
25
26
27
28
29
30
   
       
Today