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THE FACTS
Initiating, conducting and deploying projects is part of the enterprise landscape but corporations often have struggled to deliver projects on time and within budget.
For many organizations, projects do not follow any prescribed processes that are routine and operational in nature; their outcomes are inconsistent and the dependence on specific individuals is high.
The size of the project will impact effort levels and time, and the tasks to be performed might require specialized knowledge, but the process of planning, communicating status, managing tasks and turnover should be very predictable and cost effective.
With no uniform recipe for success, it is not surprising that companies report that they don't necessarily yield easy to use project management cost-saving benchmarks and performance metrics. In a survey conducted by CIO and the Project Management Institute (PMI), 74 percent of respondents said that lower cost was not a benefit for their groups.
THE OPPORTUNITY
Need for paradigm change: projects should be routine.
To be considered routine, projects must have specific events and authorizations with the expectation of achieving specific outcomes that benefit one or more of an organization's stakeholders.
Given this definition, it is easy to see how projects are repeatable processes that can be predefined, organized, "routine-ized" and executed with predictable results. They can save organizations money by enabling better resource management, reducing project failures and supporting those projects that offer the biggest payback.
