Enterprise project management (EPM) is simply the oversight and control of all ongoing projects within an organization. An EPM formulates a company’s overarching strategy, aligning that with departmental tactics and operations, creating an organizational synergy to efficiently achieve the desired goals while correcting inefficiencies and identifying new opportunities. An EPM can resolve several issues many companies face. Here are just three.

3 Real World Applications for Enterprise Project Management

1. Improve Efficiency Following a Merger and Acquisition

2. Inform Critical Decisions With Reliable, Consistent Data

In the entertainment industry, several platforms have merged in recent years. CBS and Paramount are one example, Disney and Marvel Studios another. While each studio maintains its own budget, properties, and strategies for series and film development, the umbrella organization needs to have its eye on the bigger picture (pun intended).

Each division needs to report its data in the same manner. Time is money. The amount lost converting differing departmental spreadsheets into a detailed overview could cost millions. Keeping everyone on the same page is imperative. An EPM team can install unified portfolio management to achieve that aim, enabling the streamlining of resources while simultaneously improving the capacity to plan new programs, which, in turn, drives growth and creates further opportunities.

3. Improve and Innovate Your IT Department

Every major business relies on its network in the current digital economy. Most people view IT as the people in the shadows who keep the network up and running, avoiding bottlenecks and enabling work to be delivered on time. Then there is the security team, which polices the network to repel outside threats and ensure protocol compliance within.  

Increasingly, however, companies are integrating network and security teams to great benefit. Not only does a unified NetSecOps achieve better network performance with greater cost efficiency, but it also accelerates incident detection and response while lowering risk. Solid EPM creates greater transparency across an organization, allowing IT to operate to its full potential in terms of both network maintenance and security.

Whether your company is undergoing a merger or acquisition, is simply diverse in its nature, or is getting in its own way thanks to its siloed structure, bringing in an experienced EPM team is the solution that will have everyone pulling in the same direction. Book an introductory call with Project Genetics now to learn how we can help you. 

Should the Project’s Scope Be Reduced?

Should Some Tasks Be Put On the Fast Track?

Is Overtime the Answer?

Is Recovery Absolutely Essential?

• Are there sufficient funds to continue?
• Should more be allocated?
• Do unexpected changes necessitate altered priorities or needs?
• Do these changes indicate the project should be delayed or abandoned altogether?

If the updated risk analysis determines the project should continue but doesn’t present solutions to continuing delays, CEOs should ask one further question.

Should the Project Recovery Be Outsourced?

Sometimes, an in-house project management or recovery team lacks the experience or knowledge to rescue a struggling project. When that occurs, companies should consult a professional project management firm.

Experienced and dedicated project management leaders are ideal partners to rescue flagging projects. Book an introductory call with Project Genetics now to learn how we can help you.

People have been following the Elon Musk/Twitter saga online and in the news for weeks now, waiting to see if the multi-billion-dollar purchase will actually happen. In truth, however, closing the deal is just the beginning. Integrating mergers & acquisitions can take months, if not years, and more than half of these ventures end in failure. What, then, are the necessary features of a PMO methodology that can deliver a successful merger & acquisition? 

Developing a Successful PMO Methodology for Mergers & Acquisitions

1. Prioritize Culture & Human Resources

2. Identify Areas Where Support is Required for a Successful Merger & Acquisition

3. Identify Special Needs

4. Establish an Effective Project Management Framework and a Master Plan

Successful integrations require an appropriate hierarchy. An executive committee typically oversees merger projects. Its responsibility is to address all details of the merger. If the committee is not chaired by the highest-ranking executive in the new company, the chair should report directly to them. Smaller teams can be formed under the purview of the overarching project management team to handle the unique needs within individual departments or more challenging obstacles to the merger.

5. Monitor and Document Progress

Like any project, integration should be measured in terms of time and cost. It should have a firm budget but also the flexibility to adapt to unforeseen changes and make necessary corrective measures. Reports should be in real time so that the senior committee and the new company’s board are constantly aware of the progress and updated timeline for full integration.

In addition to successfully managing the merger of two companies into one, a clear, focused integration plan that utilizes the new entity’s full resources can also present new, lucrative opportunities not anticipated in the original merger proposal. Learn more about how your merger can benefit from a robust project management methodology. Book an introductory call with Project Genesis now.

Every business understands that profit margins increase when staffing and time management are optimized. Workforce management techniques that control current staffing levels, anticipate future needs, and maximize employee efficiency to achieve those twin goals. The following principles make any workforce plan efficient.

5 Rules for Workforce Management in 2022

1. Involve and Welcome Input From All the Right People

A company’s top management, employees, and stakeholders should all have a voice in establishing a solid workforce plan. Each offers a different but vital perspective on the company’s business strategy and goals:

• Executives understand the big picture; what the company hopes to achieve 
• Employees understand day-to-day obstacles
• Other figures, such as supervisors, department managers, and even union representatives, can identify needs, gaps, and inefficient practices

Accepting input from all three groups is a sound communication strategy that allows a company to monitor progress while offering a level of transparency that promotes a strong sense of unity. Companies tend to be more successful when everyone involved feels like they hold a stake in that success.

2. Determine Critical Skills and Best Practices

Businesses must understand the necessary skills and level of competency required of all stakeholders to achieve the company’s goals. A solid workforce plan is also flexible and capable of adapting to changing conditions.

Keeping its workforce trained up and equipped to deal with any situation is critical. Identifying best practices is also crucial. Designing and implementing more efficient work processes can only help skilled workers meet the company’s short and long-term goals.

3. Create Strategies That Best Exploit Critical Skills Within Available Resources

In an ideal world, businesses would recruit the most talented people and provide them with every resource imaginable to achieve their aims. However, real-world companies find themselves constrained by budgets.

Creating a solid workforce plan is, by necessity, a balancing act. Staffing your workforce must be done with anticipation of customer demand, while work processes should be adjusted to meet that demand and eliminate inefficiencies such as downtime and poor documentation.

4. Build the Required Capability to Meet Workforce Requirements

Communication, transparency, efficiency, and flexibility are the four cornerstones of a successful workforce plan. While streamlining work processes is to maintain optimal staffing, management must also be educated on available options to have the necessary flexibility to adapt to changing demands or conditions.

Employees should also be aware of potential shifts in work processes. In fact, clear and documented guidelines across every aspect of a business promote both transparency and accountability in workplace performance.

5. Continually Monitor and Evaluate Performance

Companies can never plan for every contingency. Unforeseen and unpredictable events, such as COVID, can render strategies and methods temporarily ineffective or even obsolete.

However, businesses that monitor and evaluate their performance in real time are far better equipped to respond to sudden change. In the interim, they are also more likely to detect gaps in efficiency and apply corrective measures earlier than less attentive competitors.

Experience and leadership are not always present when devising a sound workforce plan, especially in growing businesses. The best option could be to consult with an agency that has successfully implemented workforce plans tailored to each client’s needs. Learn more by booking an introductory call with Project Genetics today.