Are you encountering these challenges?
Continuous Business Priority Changes and Technology Disruptions
This includes the impact of digitalization and frequent adjustments to business strategies, priorities, budgets, market conditions, and the competitive landscape. As changes in these areas keep accelerating, the ability for project priorities to stay in sync decays. Changing priorities was cited as the number one cause of project failure according to a study by the Project Management Institute.
Failed Business Initiatives
Projects provide the necessary change agent to achieve everything from mission-critical business transformation initiatives to tactical process improvement programs. Obviously, there is a high correlation between a poor track record of delivering business value and failed business initiatives.
This results from resources working on the wrong projects or projects that get “killed” in midstream due to change in business priorities.
Low Project Team Morale
Project teams want to work on meaningful projects. If teams don’t have a clear line of sight between their work and impact on strategic objectives, morale will suffer. This may further exacerbate productivity headwinds.
Project selection solution framework
Achieve Data Visibility
Insightful trade-off decisions require a clear view of all available options: consolidate project-related data and documents into a central, enterprise-grade digital database with real-time updates.
Implement Effective Comparison Tools
To compare projects, you need advanced scoring and ranking capabilities. Learn more about the use of analytics to improve decision-making in our Idea & Demand Management Capability Brief
Run Realistic Simulations
You should be able to simulate multiple scenarios at project and portfolio level and to compare them against live projects. More about ‘what-if’ scenarios in our Portfolio & Program Management Capability Brief