Wednesday Jan 21, 2015

Is your company ready to successfully execute a business transformation?

Intelligent Utility – January 18, 2015

Author: Guy Barlow, Director of Industry Strategy, Oracle Primavera

For companies that don’t want merely to succeed in the utilities industry but to lead, continual business transformation is a must. It appears, however, that actually achieving this transformation is also one of their most vexing challenges. New research from Oracle Primavera and Forbes, “Making the Change: Planning, Executing and Measuring a Successful Business Transformation,” shows that while the ability to execute transformation is critical to remaining relevant, nearly half of the 534 executives surveyed---from a number of different industries, including utilities---say their organization is only somewhat or not at all ready to successfully execute a business transformation today.

Continual business transformation is crucial for companies to stay ahead of emerging players and maintain a competitive edge. From bringing new offerings to market to embarking on major capital expenditures, business transformation can take countless forms. Many utility companies, however, are struggling with their transformation efforts. Despite strong agreement that business transformation is fundamental to success, 48% of total executives surveyed say their organization is only somewhat or not at all prepared to successfully execute a business transformation today.

Beyond the preparation, it’s the execution of the business transformation initiatives and projects that make or break its success. The most often cited cause for failure in the rollout of a business transformation initiative is inefficient execution (41%), followed by resource and budget constraints (35%). Additionally, top reasons for successful initiatives include support from leadership (51%) and strong, competent execution (48%).

When it comes to tools needed to ensure successful business transformation, respondents from utility companies say that having a summary of all costs associated with transformation initiatives is the single most critical capability (55%). More than half of utility industry respondents (55%) cite inefficient execution as the top reason for transformation failure while noting that the top reason for transformation success is support from leadership (48%). And, those who have successfully implemented transformation initiatives in the last three years say that business transformation met their expectations (47%).

Transformational change in utilities is needed. Given, among other factors, the volatility of commodity pricing, heightened regulatory scrutiny and diminishing talent, boards and executives realize the need for a step-change in their business. And it often depends on the successful planning and execution of strategic initiatives – that is, projects. (…)

Read the complete article here.

Tuesday Jan 13, 2015

The New Face of Project Management: Are Specialized PMOs and Mobile Tech the Future?

PM World Journal - January 2015

Author:  Mike Sicilia, Senior Vice President & General Manager, Oracle Primavera

The face of project management is changing. Economic fluctuation, evolving risk, and increasingly stringent regulations are creating new challenges for project managers. To meet these challenges and ensure the success of diverse projects across the enterprise, organizations must consider new and innovative methodologies and approaches that can inject innovation into processes.

Illuminating these realities, Oracle recently brought together a group of business leaders who revealed insight into two evolving areas: the role of project management offices (PMOs) and the increasing real-time reach of mobile technology. The Enterprise Project Portfolio Management (EPPM) Board – a steering group of senior executives, academics, and industry experts that looks at how C-level executives can successfully prioritize and manage the project portfolio – raised questions over the long-term value of PMOs and the way mobile technology can transform project management.

Read the complete article here.

Tuesday Dec 03, 2013

Driving a Shared Vision with Enterprise Project Portfolio Management

Written by: Guy Barlow, Director of Industry Strategy at Oracle Primavera

“Write that down!” the CIO of an Indian Oil & Gas company exclaimed. Honestly I was caught off-guard when he hollered this to his reports during our discussion. So what was he so excited about? Simply put, he saw how his team could provide a solution to improve a key business metric; a single number that could not only strengthen the business but also his team’s relationship with operations. Not a bad thing.enterprise project portfolio management best practices

A shared vision, that’s what it is really all about. When an IT leader understands the key business metrics they can instill those metrics in their team to forge the much-needed connectivity between IT and business. The CIO was making a point to ensure his team “got it”. He certainly did.

In our client interactions we’re seeing a rapidly growing trend towards this shared vision and purpose. In some cases it’s by proactive design – the CIO comes from the business – or in others it’s borne out of a reaction to market necessities, like a declining share price, poorer KPIs, or regulatory scrutiny. Crises are great catalysts for initiating change. Similarly, the infusion of technology-thinking into the business is making for much more savvy executives on the operational side of things. In the end this is all good.

So what does this have to do with enterprise project portfolio management (EPPM)? As it turns out, quite a lot. Whether it’s a failed IT implementation for a bank, a cost blowout for a petrochemical facility or a late-to-market delivery of a new vehicle, these are all critical initiatives to the performance of their respective businesses. And guess what? They’re projects – big, small, complex, simple, local, and global. Manage them, by aligning technology and business, and you’re managing your enterprise more effectively.

This link between technology, the business and EPPM is naturally of keen interest to our clients and us. The ability to drive transformational change through greater innovation, efficient operations, a heightened risk and financial management approach is top of mind. Composed of business leaders and academics, the EPPM Board* was formed to explore these types of ideas and communicate to business leaders some of the latest thinking and innovation via research and thought leadership.

Take some time to review these reports generated from the EPPM Board; Hedging your Bets, Stock Shock and In the Firing Line and I guarantee you’ll “get it” too. And more is on the way. Enjoy.

P.S. So what was that number the CIO was interested in? What generated the excitement was, LPO, or lost production opportunity, and for the energy sector it’s a powerful metric. If a facility is down for maintenance it’s not making money. EPPM can reduce maintenance time via a number of areas and by doing so you reduce LPO…and increase revenue.

*The EPPM Board is a prestigious international steering group from Oracle. It brings together senior figures from leading organizations to discuss the business critical role of Enterprise Project Portfolio Management (EPPM) and establish how the challenge can be better tackled from the top.

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