How to achieve Greater Client Satifisfaction and Profitability through Improved Project Management
In our recent webinar Better Business performance for Professional Services – How to Increase profitability and Client Satisfaction through efficient project management, we explored how efficient project management doesn’t have to involve major new technology investment. By using the cloud, professional services organizations can access best in class software over the web. The important thing to bear in mind is how cost-effective this can be.
Software drives efficient processes for every aspect of project planning and service delivery. PSA Software supports professional services organizations at every stage of project and program management. It gives managers control and visibility. It simplifies everyday admin for project teams and it also helps the organization as a whole learn and develop.
This diagram illustrates the role of technology in providing control and visibility over the 7 key factors that drive PSO success.
- Underpinning effective service delivery
- Driving project performance
- Managing resources more strategically
- Improving knowledge management and innovation
- Ensuring project profitability
- Optimising employee utilization
- Reducing Project Administration Costs
We’re focussing on taking the complexity out of managing projects. By definition, as a professional services company, you deal in complex issues but you certainly don’t have to be immersed in them within your own business. You can’t afford to be.
Being on top of things -- means coping with change as it comes your way and still maintaining a forward momentum.
It means synchronizing your actions so that they’re in line with client expectations every step of the way; or, ideally, a step or two ahead of them.
It means raising your project standards by leveraging previous experience; not re-inventing the wheel every time and also certainly not taking shortcuts but benchmarking elements of project management that are repeatable, proven and transferable from one project to the next.
Teamwork plays a significant role as well, making sure that knowledge and expertise is shared to the benefit of everyone in the organisation and the benefit of client outcomes and your own organisation’s profitability. Don’t forget, there are ways these sort of actions can be driven by software that take out the hassle and just drive continuous improvement across the company.
We looked at project profitability and maximising it by making sure nothing is ever missed. The devil’s in the detail and it’s up to you to capture every detail so that your potential profit doesn’t simply vanish into additional costs.
Employee utilization makes sure you put the right people in the right place to do the right job. As we said, the most effective professional services organizations are those with the most billable time per capita. So, it’s enormously valuable to you if you spend a little time in investigating procedural frameworks that enable you to plan effectively.
Finally, improving project cost control through the use of project automation tools like KeyedIn Projects makes sure every cost is visible and every billable item or action is billed. Meaning you end up delivering better value to your clients and, more importantly, to your own bottom line.