What is enterprise project management?

Organization with more than 500 employees – manage many complex projects at the same time. Though these projects are not similar, they all affect the same enterprise. Enterprise project management (EPM) as the name suggests it is the practice of managing multiple projects on a large organizational scale. By implementing enterprise project management in a large organization leaders can ensure improvement in the effectiveness of project management on a large scale.

According to Project Management Institute (PMI), enterprise project management practices can include.

• Use of project management software – for managing multiple projects and make them more visible and trackable across the organization. So that all the stakeholders of the organization can refer to a single version of project data.

• Creation of PMO – project management office 

• Using data – to improve project management capabilities.

Benefits of enterprise project management

Since from last few decades, the need for PMO in an enterprise organization has grown tremendously, Organizations are now looking for a more holistic approach for managing projects.

Enterprise project management – will always help the large organization in achieving their strategic goals but also will help in supporting the project teams.

More projects delivered on time and within budget –

Because of misalignment among the projects within the organization, it is usually seen that many large organizations suffer from duplication, wasted effort, missed opportunities, inconsistent decision-making, and other hurdles. To overcome this situation project managers within the company are now looking towards a single system that can help them make an informed decision for their day-to-day activities.

Better enterprise-wide utilization of resources

Though resource utilization as a term is very simple to understand but to achieve the same any professional services organization needs a single version of the truth across all the projects they are working on whether these are small projects or large and complex projects. Ensuring enterprise project management in an organization’s practices will help in achieving more resource utilization.

Better collaboration and coordination across departments

By implementing enterprise project management practice project managers and delivery heads can ensure smooth and on-time delivery of projects. Which will ultimately result in an increase in productivity within teams of the organization.

More bang for the buck. Greater returns of the projects implemented

Resource Utilization is checked as a pulse to measure the ‘health’ of a services organization and rightly so.

Just as your pulse rate is an indicator of your physical health, resource utilization is an indicator of business health starting from demand generation right up to fulfillment!

Profitable resource utilization leads to more time in hand to onboard new projects – and one can estimate great returns on the investment by implementing enterprise project management practice.

Better risk mitigation

Better risk management can help the organization to avoid uncertainty and minimize the impact.

Implementing enterprise project management practices in your organization will help your project managers, delivery heads, and business heads to balance between project delivery risks and new normal (COVID risks)

Better and quicker decision making

Data has become the new oil, which is extremely critical for organizational success. But coping up with information overload is becoming a challenge for companies. Unless companies have the right systems and tools to manage their work processes, data may not result in meaningful insights.

Data needs to be connected, filtered, and interpreted in the correct way to add value. As enterprise project management practices suggest if an organization invests in the best project management software – informed decision-making can be achieved with the help of metrics and intuitive dashboards.

What makes enterprise project management unique?

Formal project management is not widespread in many organizations. Most of the project work – activities are still managed informally and in most cases without any project management training. The success of projects is more dependent on the individuals involved, rather than a process or system driven. 

Most projects fall short of their potential and could have been a more satisfying experience for both the company and the client.

Enterprise project management emphasizes business goals so that organization can achieve holistically.

Implementation of enterprise project management

When organizations implement enterprise project management as software they need to look out for an integrated system that includes process workflows and training in addition to the software. If they do not have an integrated system that takes into consideration the 3 important elements such as process, people, and software, then definitely the improvement will fail. 

One can not implement enterprise project management (EPM) in an organization not thinking about

• How they do business? 
• How they do project management?
• What kind of training and organizational setup that they have in their hierarchy?

After all, in enterprise project management we need to ensure that we provide the right information to the right people at the right time and at the enterprise level also need to make sure that the information they need is exactly in the right format. This is very important to enhance the effectiveness of project management initiatives.

How Whizible helps in enterprise project management

Whizible offers an integrated data-driven view for each project across divisions and full visibility on the total installed capacity in terms of human resources. 
Whizible helps ensure that resources are utilized up to optimally and reduce the waste of 5 to 15% resulting in improvement ib bottomline of upto  20% in profits.

Whizible is a cloud-based solution that integrated enterprise functions like

• Resource and Cost Optimization
• Engagement / Projects / Task Management 
• Time and Billing
• Issues and Exceptions
• Knowledge and Process Assets
• Customer HelpDesk
• Mix of Agile / Waterfall lifecycles etc.

Whizible creates a single platform for collaboration of all stakeholders including individual contributors, team enablers, strategic Managers (and also customers), replacing siloed and disconnected point solutions.

Conclusion

Increase Billable Resource Utilization and Profitability See for your self –