Avoid the time and cost risk associated with project delivery
When it comes to delivering major programs, time is money. Key milestones need to be delivered on time and on budget; issues need to be addressed before they negatively impact performance. On a more granular level, individual projects in the portfolio need to run like clockwork, with no unexpected delays and no hidden costs. So exactly why are nearly a third of projects going over time and over budget? The short answer is that most firms aren’t equipped to manage projects across the entire portfolio effectively, introducing time and cost risks.
Standardize Project Delivery for greater Visibility and Control
Clients may be happy, as businesses are delivering what they’ve promised (albeit a little late), but from the commercial perspective, it’s an on-going problem. It doesn’t just leave a big hole in the books, but it puts you on the back foot, time after time, when you start a new project: instead of being able to get moving from day one with the resource you want, many of your team are unexpectedly tied up on their previous project, which is running late.
This lack of visibility not only muddies the waters in terms of status reporting, resource allocation and costs for individual projects, though. It also leads to gaps in oversight of the broader portfolio. The business goals of standardizing project delivery, gaining clearer oversight, controlling costs and ultimately driving project success all falter.
Deliver on time, 100% of the time with KeyedIn Projects
KeyedIn Projects transforms your ability to deliver on time and on budget. Available as a Cloud-based service that integrates easily with your existing systems, KeyedIn Projects helps you track project status at every level – from the individual task right up to the program overview. That means you can react more quickly and appropriately to changes or client requests – deciding on the best course of action not just for each individual project, but for the project portfolio as a whole, and hence the business as a whole. You can monitor project costs in a granular way and adjust activities to maximize profitability and stay within allocated project budgets.
Ensure on-time, on-budget delivery
KeyedIn Projects gives you an accurate view of all current and future projects, helping you understand and address potential time and cost risks. As an additional benefit, you can minimize delivery risks for future projects by recruiting the right skills early and right-sizing teams in advance. You can also create professional development programs that will help you meet clients’ business needs long into the future.
Gain intelligence for strategic planning
With KeyedIn Projects, you can use historical data to identify areas for operational improvement and optimize planning for new projects. It’s also possible to model this data based on different project scenarios, which helps you choose the best way forward for your business and reduces time and cost risks for project delivery. You can also enhance your overall business strategy with KeyedIn Projects. Assess the potential profitability of new projects based on client requirements and past experiences, to ensure that you take on the highest-value work – without impacting on the delivery of other projects in the portfolio. Learn more about how the KeyedIn Projects Project Portfolio Management solution helps improve project selection, enhances strategic planning and drives improved resource usage.
Apply smart resource allocation across the portfolio
Certain teams, and even individual members of the team, are always in demand across several projects. With KeyedIn Projects, you can see exactly who has been scheduled to work where, and when – and use that knowledge to enhance project planning. If one project in the portfolio slips, it’s easy to work out which others could benefit from resources available at late notice – or from where resources could be re-directed to get the project back on track.
Maximize New Opportunities and Drive Growth through More Effective Resource Planning
It’s an age-old dilemma: your teams are working at full tilt to deliver projects and meet clients’ diverse needs. So how do you maximize new opportunities and grow your business, without negatively impacting your business-as-usual activities?
Option 1 is simple: add staff for each project. But that comes at a considerable cost – and is only ever a short-term solution. The people you employ today may not be needed in six months’ time, and contracting is expensive.
The more sustainable answer is to find a way to optimize productivity and make existing resources go farther, while taking a long-term view of the pipeline so you build the right team for the future. To achieve these goals, you need clear visibility of what’s happening on the ground, what’s coming up, and which resources and skills are available at any given time. This insight isn’t optional – the competitiveness of your business depends on it.
Increase Project Success, both Today and Tomorrow
With KeyedIn Projects, you can see the status of all your current and upcoming projects. As well as monitoring progress to agreed milestones, you can see which resources have been allocated to particular tasks, and look at billable hours for each consultant in real-time. With detailed, real-time project information, you can increase performance, shorten delivery times and minimize cost risks. Ultimately, you can ensure that each project is delivered in the best and most profitable way possible – and take on more work than you previously thought possible.
Improve capacity planning
With KeyedIn Projects, you can see exactly which resources have been allocated to all current and future projects. This helps with capacity planning and helps you ensure the right skills are available for your clients. With a clear view of future resourcing requirements, you can take action to increase the size and skills base of your team and minimize growing pains.
Eliminate the finance and service delivery execution gap
Integration between KeyedIn Projects and Finance brings the back office and professional services teams together in a single solution – eliminating the execution gap that exists between finance and service delivery in many organizations today. And the business sees value in four distinct ways: reduced costs for everyday tasks, maximized profit from every project, increased client satisfaction and a far greater ability to view and manage risk organization-wide. Learn more about how the KeyedIn Projects Services Resource Planning solution helps increase the financial strength of your project decisions.