Monday May 06, 2013

Five Globalization Risks and How to Manage Them

Globalization may offer enterprises exciting new growth opportunities in emerging markets, but it can also introduce a complex array of operational risks. The challenge is that without the right infrastructure in place to confront these risks, international projects can immobilize an organization and lead to the biggest consequence of all—putting the company out of business.

“Investing in the Unknown?” is a new report produced by The EPPM Board that explores five key challenges facing global project delivery. Produced for enterprise project portfolio management (EPPM) professionals, the report examines the challenges of operating across borders, and details the role of EPPM solutions in maintaining effective visibility and control.

A shifting risk profile. The increased scale of globalized operations is matched by the increased level of risk, ranging from fluctuations in interest and exchange rates to supply chain piracy. As these risks become more strategic, they frequently involve greater levels of uncertainty that can impact capital investments. Organizations therefore need access to a more comprehensive risk framework, and the ability to analyze different scenarios and model specific risks and costing options.

Regulatory obstacles. Fast-changing regulations and local policies can have a dramatic impact on the profitability of cross-border investments, heightening uncertainty in rapid-growth markets. By adopting a global platform for managing the project portfolio, greater visibility can be gained into the procedures for overcoming regional barriers—and for developing suitable contingency plans.

Cultural differences. Managing workforces when operations are separated by thousands of miles, international time zones, and cultural and religious differences can be an exacting challenge. To cope, the central organization must be able to refine portfolio management and create an infrastructure that maintains the diversity of international teams while also empowering local delivery.

Resource constraints. Increased competition for local talent often results in skills shortages in key functions. This creates increased demand for effective planning processes allied to dynamic resource management capabilities. While the tools exist to support these activities, the trick is to review intelligence from a consolidated global perspective. EPPM solutions provide a framework for adopting this perspective and for balancing the risks of individual projects across the portfolio.

Problem flexibility. The growing interdependence of international value chains makes the consequences of major systemic disruptions difficult to manage. Increased visibility into value chain performance, and processes for creating a collaborative, two-way flow of information are the vital ingredients for retaining flexibility and responsiveness. In addition, executives must be able to select the type and frequency of data they review and zoom in on any critical obstacles.

EPPM Is Essential
To succeed in globalization, organizations must manage challenges and risks at an executive level. As a result, EPPM technologies that enable a more integrated, top-down approach to managing projects and resources are becoming critical components in many globalization strategies.

Read the full report and learn about Oracle’s full portfolio of EPPM solutions.

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".


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