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.

Enterprise resource planning (ERP) software promises to track all of your company’s resources as they pass through your internal processes. A successful ERP implementation will allow you to monitor tasks in real time and, more importantly, collect valuable data at every step. This data can then yield useful insights to help you fine-tune procurement, resource management, employee allocation, and much more. To implement ERP from scratch, you’ll need to proceed through several phases. Here’s what those phases look like.  

Understanding the Phases of ERP Implementation

Initial Planning

Although the exact number of phases depends on who you ask, everyone agrees that a good ERP project starts with thorough planning. You need extensive documentation. Is every essential process documented with step-by-step instructions? Are employee roles and their interactions clearly defined and mapped out? Since ERP works by digitizing and centralizing all of your processes into one program, you have to understand those processes perfectly. Otherwise, your software will clash with workers’ expectations and create more frustration than the solution.

However, this is also a good time to stop and analyze processes to see how they can be improved. There might be unnecessary steps that you can cut or, at the very least, automate using software. Take your existing process documents and draft new versions that envision how the process will go once you’ve implemented ERP software throughout the organization. Set goals for select KPIs so you can monitor progress in the future.

Software Development

Software development is where the bulk of your ERP investment goes. ERP projects quickly go over budget when software engineers receive requests for features that weren’t considered in the original plan. That is why the first phase is so crucial. However, there will always be things you overlook during planning. Agile software development methods allow engineers to tinker and make adjustments along the way.

Once a beta version is ready, you may want to ask some of your employees to participate in a pilot program. Include a mix of tech-savvy and luddite workers for best results. Both engineers and other staff need to test out the software to find flaws and make recommendations for improvements. As an added bonus, having regular employees in the pilot group will help you when it comes time to train others.  
 

Deployment and Training

Once the development phase has run its course, you’ll proceed to deployment. The software engineers will handle the technical side of deployment, including migrating data to the new system. However, your employees need to be ready to use the new software. Developers aren’t usually the best teachers. Leverage the knowledge from the pilot group and organize a few “vacation” days where employees can experiment and play with their new software.

Tracking and Improvement

Now that everyone is on board and your software is up and running, it’s time to monitor it and make revisions. Some issues may not manifest themselves for months or even years. Keep taking suggestions and monitoring the data collected to ensure the project satisfies the goals set in your plan.

If your company needs help implementing ERP or building software from scratch, book an Intro Call with Project Genetics.

Every failing project starts with the best of intentions, but somewhere along the way, things fall apart. Maybe your team is having trouble communicating, or they’re missing deadlines. Suddenly, you realize things have gotten way out of hand. Fortunately, you can get help: at Project Genetics, we specialize in helping teams accomplish their project goals. Keep reading for five project recovery strategies to get your team back on track and headed for success.

5 Project Recovery Strategies That Work

1. Risk Assessment

Before you begin the process of recovering a derailed project, schedule a meeting with your team for risk assessment. Is it even possible to recover the project, or has the final deadline already passed? Are there enough resources to complete the project? Have the priorities changed enough to warrant a complete redesign? As the project manager, ask yourself those questions and pose them to your team. Ask for their feedback, then try to reach a group consensus on how to proceed.

2. Pinpoint the Root of the Problem

The next strategy is root cause analysis. Sit down with your team and examine what is causing the project to fail. Then, follow the problems until you reach the root cause. You may even find that some of the same issues have occurred on other failed projects. Once you identify the snags, brainstorm short- and long-term solutions you can apply to prevent the same problems from popping up again on future projects.

3. Use More Resources

If you have the funds, adding more resources or asking for more help can push a flagging project through to the finish line. However, spending more money will detract from overall profits. Plus, throwing money at the problem is no guarantee that the project will succeed. As a last resort, you can force overtime, but use caution: too much overtime can kill employee morale and motivation. Also, don’t forget to acknowledge your team’s efforts and celebrate their successes.

4. Try Fast Tracking

Are there any project tasks you can complete that aren’t dependent on other tasks? If so, try fast-tracking, also known as partial overlapping. With this technique, you start the new task right before the previous one is completed successfully. Ultimately, this method can streamline your to-do list and help you complete tasks more efficiently.

5. Get Some Fresh Eyes on The Project

Another strategy you can use to recover a derailing project is outsourcing. For example, you can ask another project manager for their opinion or advice on how to get the stalled project going again. Getting a new perspective on an old problem can result in fresh ideas or (hopefully) a solution.

From risk assessment to root cause analysis, these are five strategies to help you recover a failing project. If you’ve tried everything and you’re still stuck, the talented team at Project Genetics can help. We zero in on your specific needs and dedicate ourselves to helping you accomplish your project goals and ultimately achieve success. Contact Project Genetics today and schedule a complimentary 30-minute video chat with one of our team members. We look forward to hearing from you!

Failing projects create a great deal of stress as you face conflict arising from unmet expectations and damage to your reputation. It can be easier to look back on a project and realize where it went wrong than notice the warning signs at the moment, but if you stay proactive and look for the indicators that a project is getting off-track, you can begin project recovery quickly and save the project.

Signs Your Project Is Off-Track and in Need of Project Recovery

Failure to Hit Milestones

When your project’s timeline was created, your team received targets to hit. A delayed delivery here or there might not be a big deal, but if missed deadlines start to stack up, your project is not headed in the right direction. Failure to meet early milestones can quickly roll into delaying later milestones until your entire timeline needs to be reworked.

Sometimes, the people responsible for setting the timeline overestimated the speed it would take to get things done, while other times, you simply hit unforeseen difficulties. This can also be a symptom of scope creep as the parameters of a project keep changing. Regardless of the reason, though, continuing to move deadlines will result in unhappy clients and increased expenses.

Bloating Budgets

Every project has a point where it ceases to be worthwhile, and every component that comes in over budget carries you closer to that point. You cannot always avoid unforeseen expenses, but when they start to stack up, you know a serious error has occurred in planning or execution. A budget spiraling out of control is one of the clearest indicators that your project is headed toward failure.

Competing Visions

The successful completion of a project relies on a team that pushes together toward the same end goal. If your team cannot clearly articulate that goal, or worse, if they have competing descriptions of that goal, you can anticipate chaos and conflict. Making sure everyone is on the same page can prevent many more serious problems.

Lack of Excitement

When you meet with team members, do they seem disinterested and distracted? That disinterest will spill over into the quality of the overall project, so make sure you’re getting everyone on board with the vision of the project and clearly communicating their role in it. If this is a need on your project, our proprietary process can put the right person on the job who will fit your needs and earn your team’s respect.

Excess Overtime

Overtime can be a good short-term solution as you sprint to complete a particular aspect of a project. If you find your employees regularly working a lot of overtime, though, it indicates that the project is lagging. It can be easier to hide the lag with overtime than to fix the underlying problems; however, this isn’t sustainable long-term, and those unsolved problems will surface elsewhere eventually.

Watch out for signs that your project is getting off track, and you can proactively address the problems and give yourself a better chance of recovering. And remember, you don’t have to do it alone. Contact us at Project Genetics for a free consultation, and our experienced and skilled experts can assess your project and implement practical solutions to help you recover quickly.