Enterprise Project Management
It is not possible to reach the anticipated results with traditional project management solutions all the time. In today’s world, traditional project management practices are not applicable to big and complex projects. New solutions, practices, and systems are needed for successful ends. Enterprise Project Management (EPM) is an extensive approach for project management that considers the project as a whole. Therefore, Enterprise Project Management offices are different than traditional project management offices. Processes, systems, frameworks, and implementations of Enterprise Project Management methodology vary from one organization to another. During the implementation of Enterprise Project Management, project teams use software tools to help them stay organized.
What is the Enterprise Project Management Office?
Enterprise project management is a detailed concept in project management. It consists of risk analysis, controlling the project resources, continual reporting and cost analysis to make a success of project management.
Enterprise project management is used to get good results from a large and difficult project’s management. This means enterprise project management is important to deliver a large project into smaller and doable parts that follow one another to obtain the last and anticipated success.
Most of the organizations have a lot of projects that should be performed simultaneously. Lack of communication and coordination between the project teams reduces the organization’s productivity. Likewise, some of the projects suffer from mismanagement. In order to overcome the problems related to poor management processes, organizations create EPM offices.
The main responsibility of an enterprise project management office is to establish the methodologies, guide project teams and improve the processes. If the project teams use well-established standards, documents, and guides, the overall success of the organization increases.
The enterprise project management office within an organization seeks to increase the number of projects delivered on time and budget. Managing projects with well-established systems allow using resources effectively.
What are the Differences Between EPM and Traditional Project Management?
EPM is not a new concept. It has been popular for more than thirty years. However, technological improvements enhance the use of this system. In the past, organizations were focusing on the success of individual projects. But they saw that focusing on individual projects is not enough to bring success. Managing multiple projects simultaneously requires a well-established system of information.
Different from the old-style project management, EPM focuses on connecting the whole parts of the project’s management into one resource, often in web-based software. These abilities aid to minimize obstacles between the workers and the project management team, which enhances productivity.
Enterprise project management system goes beyond budgeting and scheduling in project management because it makes the schedule and the budget “concrete” to all parties that takes part in a project.
For instance, all parties can follow a project’s improvement. Talented workers can reach work schedules and ask changes to schedulers within the enterprise project management system. But the real advantage of this system is seen through business intelligence and reporting.
In brief, traditional project management practices may obtain good results in less complex and smaller projects. Complex projects and large organizations need EPM practices to utilize risk analysis inputs to manage the company resources effectively. An Enterprise Project Management software provides a company to manage and store all information related to the projects.
What are the Advantages of EPM?
Technological improvements help project managers to build a proactive work environment. This means project managers have the chance of using automated data collection and analysis. In this way, they can notice and guess the probable troubles of the project before the problems happen.
Consolidating all the project information in software allows project teams to recognize the project’ s status quickly. Also, the Enterprise Project Management software provides inputs to make estimations for the future of projects.
Unlike traditional project management methodologies, enterprise project management methodology improves collaboration within the project team. Because all the members have access to the software and they share project data simultaneously.
Project managers can easily identify the root causes of problems by analyzing project information.
Small and less complex projects can also benefit from EPM practices. Tools that exist in the software help to organize and manage project information effectively. Whether you are managing a large or small project, well-organized plans, schedules, and resources improve processes within the organization.
When the project management is taken to an enterprise-level, it affects how well a project aligns with a company’s business plan. Thus, project managers can organize difficult projects that depend on the conclusion and accomplishment of other projects or duties that they can’t control.
So, the company maintains the schedule and income with the help of bringing information together by data sharing.
Another benefit of using EPM is that it improves innovation and decision making within the organization. The EPM creates a framework for the organization to manage the portfolio of projects.
Today’s projects require an integrated approach for project management. The EPM is a proven method for managing project, program, and portfolios. The EPM looks complex but in fact, it is a methodology in project management that lets project team members continue control over the most difficult and detailed projects and programs. The EPM improves the quality of management and reduces risks within the organization.
No matter what your experience in project management is, you can use the enterprise project management and obtain its benefits. Your project will have more chance to be successful.
Building Effective EPM