Our world has changed a lot. These changes are in the field of technology and these all changes have effected us a lot as well. Internet has come as a breakthrough for our world. It was a small project but now it has grown a lot and has helped different domains in the world to expand as well.
People are using Internet a lot and Internet is actually everywhere. It is in every domain and has made our lives simple in different ways.
Business and keeping it running
These days a lot of businesses are run by people and most of these businesses have gone online as well. Large enterprises are there running their business online and on other platforms as well.
However the most important thing in business is to keep the business running all the time without a stop. This is the thing which can change the completion of the large enterprise.
Challenges for large enterprises – Handling so many projects simultaneously
When a business is run by a large enterprise project of different types are undertaken by it. These projects are of other companies and stuff. These projects of different types and running them simultaneously becomes a great challenge for a large enterprise.
This is where the role of enterprise project management process comes into play. This thing enterprise project management or epm has a great role in a large enterprise because of its significance and usage of handling a large number of projects running simultaneously in a large enterprise.
So it is quite clear that businesses of large enterprises have a great deal of significance and it comes with large number of challenges as well. So the importance of epm project management process has a great role in play in all this stuff in large enterprise.
Understanding enterprise project management
Now it is to understand different things about enterprise project management. In this article we are going to talk a lot of things about it. Like what are different things related to enterprise management and all.
First of all it becomes important to understand what is enterprise project management? This thing is important and significant to understand to get the hang of different things about it. So let us talk about it.
There are so many large enterprises which are running and in these enterprises large number of projects run simultaneously and these all projects are complex in nature as well. These complex projects of large enterprises are related to each other as they all impact the organization in a great way. To handle these projects, enterprise project management process is helpful.
In other words we can say enterprise an agement refers to the practice of managing projects on a company wide scale. It generally includes implementing various strategies and processes aimed at streamlining and improving the effectiveness of project management on such a large scale that is company wide scale.
Objectives of enterprise project management
There are different objectives of enterprise project management. However the following ones are the most important ones.
- Using project management software to consolidate multiple projects and make them more visible and trackable throughout the large enterprise.
- Creating a project management department to handle all the queries related to projects.
- Using stages of growth models to improve project management capabilities.
These are the initiatives and objectives related to enterprise project management process.
How enterprise project management process is different?
Now the question is that if we have traditional project management processes with us then what is the need of new system called enterprise project management.
The answer is that enterprise project management process is highly effective and different from traditional project management practices undertaken by companies. Here is the difference between the two of these practices.
Traditional project management practices focus on seeing one specific project through from beginning to end with a defined and measurable objective.
However on the contrary enterprise project management puts the focus on the enterprise, prioritizing and highlighting its business goals. Also managing and grouping projects to make sure that they meet those broader organizational objectives in whole.
So the thing is that in enterprise project management not only a single project but the success of organization or large enterprise matters. The goals of enterprise matter the most.
These are the main differences between traditional and enterprise project management practices in a large enterprise or firm.
Benefits of enterprise project management process
It is quite ironic that a lot of money in a large enterprise is spent on projects for their completion and processing but most of these projects lack alignments with other projects in a large enterprise. These things result in duplication, wasted effort, missed opportunities, inconsistent decision making and other hurdles. So a proper strategy for these projects is needed by organization and project managers.
For success in all projects, enterprise project management is a great choice. It offers a lot of benefits. Following are the different benefits related to enterprise project management practices.
- Higher quality output related to all the projects is provided by the enterprise project management process. This is a great benefit for any large enterprise.
- Improved productivity is another great benefit which is related with the usage of enterprise project management practices.
- Reduced impact of skills shortage is also benefit related to enterprise project management practices.
- Reduced project risks is another perk related to using epm practices.
- Enhanced reliability of delivery is also a benefit.
So there are a lot of benefits related to using enterprise project management practices. None of these benefits or advantages are got while following traditional project management practices. This is why enterprise project management practices are different from them for a good cause.
The Seven elements of EPM
There are different elements related to EPM which are enough to continue with its practices. These elements are also important for Project Managers to be understood. Following are the elements related to enterprise project management.
- Risk analysis
- Structured Estimating
- Project Reviews
- PM coaching
- Escalated Issue Management
- Time Accounting
- Information system
Implementation of enterprise project management
The most important thing is that implementation of enterprise project management requires a desire to change by the large enterprise. This is because enterprise project management focuses on the organization’s core mission and strategic objectives.
So it’s implementation begins with a thorough look at the company’s existing projects and its organizational culture. Plus there must be adaptability and openness to change. So it is not a easy task at all but benefits are inevitable as described by us earlier.
For implementation of EPM inclusion of stakeholders is also critical as the success factor of epm depends on them as well. There must be communication to bring everyone on board including executives as this will ensure that the goals are efforts are aligned.
So these are the important points related to implementation of enterprise project management practices. It will require efforts and dedication but benefits are crystal clear as well.