This is a fairly new set of technology. Most of the products just discussed were officially introduced during the past four years. The development of project-centric data handling structures, by the leading ERP and data management companies, together with tools that facilitate the integration of these products with traditional project management software, is a natural move toward more inclusive, better integrated systems, that will also provide improved security and rules standardization. The trend is toward greater use of web-based capabilities, which is also bringing about rapid changes in the names of the products.
Firms seeking to manage all of their projects in an enterprise-wide mode, while minimizing duplication of data entry and maximizing connectivity to the corporate financial and data systems, will want to take a good look at these new offerings. The CFO will appreciate the ability to analyze the impact of projects on the business. The CIO, using the data warehouse, will appreciate the improved data security and consistency. Both will appreciate the rules-based flow of data within the greater system. The CPO (Chief Projects Officer) will appreciate the automated link to time and cost data, and the single point of entry. The CEO will finally gain the long-awaited objective of fully integrated analysis and forecasting of all the firm's business.
Trap While putting an interfaced PM/ERP system in place can go a long way toward providing the CEO, CFO, CIO, and Projects Team the tools that they need to manage both operations and projects, we must not forget that a strong, structured project management function is still a prerequisite for project success.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.