Fortunately, as widespread and as costly as these problems are, the solution is simple and inexpensive: it requires very little in the way of acquisitions and has very little impact on head count. It does require a few new skills and some small additions to management software. Moving to a PPM culture will require a top-level commitment and a mature and cooperative environment for the project and governance teams.
For this small investment, you can have a significant impact on the way that the organization deals with projects and business initiatives. PPM will push the corporate culture in a new direction— one in which it really wants to go if it could only articulate it.
Success will require the development and implementation of new practices. While the new process flow will be comprehensive, it will actually streamline the selecting and managing of projects. The new processes will be executed primarily with current staffing.
Perhaps the biggest change will be in communication and decision making. And these changes will be for the better.
Do you remember the Six Sigma movement? It propelled us ever closer to zero defects. The PPM process will move us closer to zero failed projects. The objective is to reduce terminated projects to zero. It's hard to argue with the premise that the earlier that you can weed out a bad project, the better. Best yet is not wasting any time on such a project in the first place.
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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.