Organizations worldwide undertake projects/ programs worth billions of dollars each year across diverse sectors to bring forth new products and services or improve existing ones. According to independent assessments, a significant number of projects/programs are known to be delayed, or have cost overruns, or failed. In this context, Project and Program Management, as an independent discipline, has been gaining increasing recognition as a critical differentiators for better business performance.
As the focus moves from project management success, through project success, to consistent project success, a completely new set of criteria comes into play, as adjudged by different groups of stakeholders. They continuously seek to know:
- Was the project done right?
- Was the right project done?
- Were the right projects done right, time after time?
The project portfolios are becoming large and complex with each passing day and focusing on the right spots can help assess and predict in order to take corrective actions timely.
Key Challenges in Project, Program and Portfolio Management
- Are we choosing the right portfolio mix?
- Are the programs producing benefits what they intend ?
- How to manage complex enterprisewise transformations?
- On-time and in-budget project completion
- Maintaining customer satisfaction with stakeholder involvement during technological advancements, volatile economy, increasing costs, tough competition, decreasing margins and increasing expectations in projects
- Evolving, changing scope
- Reducing time to market keeping the quality standards intact
- Arriving to accurate Estimates
- Getting adequate number of resources of the right mix of skills, at the right time
- Managing communications effectively across cross functional and distributed teams
- Maintaining project data and information
- Managing the associated uncertainties that are likely to occur and ensure minimum or no impact
- Managing interfaces across projects
- Managing shared resource pools and continuously identify needs for hiring, skill development, maintain productivity, morale and employee satisfaction
- Define, capture and measure performance metrics for quantitative assessment and plan improvements
- Standardizing processes across projects that are diverse in nature
- Structuring knowledge management with re-usable information, that is continuously updated
How QAI can help?
QAI’s Project and Program Management practice comprises of a wide portfolio of Consulting, Process Design, Implementation, Support and Training offerings at Enterprise level, to improve the way Projects and Program are managed. The practice has alignment with global standards coupled with rich experience of their application & fitment across various industries. QAI has the following Project and Program Management services portfolio:
- Project, Program and Portfolio Management Consulting
- Program Management Office (PMO) setup and implementation
- Project and Program Management Trainings
- Project and Programs Management Certifications
- Project Management Conferences
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