If you are involved in delivering major projects and programs, you know that value is being lost every time a project is delivered late, over budget or doesn’t deliver as expected.
PMI’s 2014 Pulse of the Profession research revealed that companies were suffering an average loss of US$109 million to every US$1 billion spent on their projects, or nearly 11%.
When it comes to project performance, because no two projects are the same, there is no commonly accepted way to judge a project’s success. However, if your project is completed within the predefined project constraints – cost, time and quality- it is deemed a success.
Yet in many organisations projects are poorly executed, as they continue to follow the same cycle tends with little change in performance. The cost of low performance is high and goes beyond financial. It also affects the company’s reputation, trust and continuity.
An enterprise resource planning system (ERP) can deliver a range of visible benefits, from helping you keep projects’ objectives on track to automating processes with the effect of improving delivery times. A centralised ERP system will also provide a level of automation that will reduce risk through human error, improve efficiency and ultimately assist you in becoming a high performing organisation.