Commercial enterprises are increasingly challenged by the lack of visibility and control necessary to ensure their business and technology investments fully support the business goals and objectives.
Which assets should be kept and which should be retired? Which IT applications are helping to transform the business? Which research programmes are worth funding, and which ones should be curtailed?
"Typical financial transaction systems can track costs by keeping the ledger up to date, but they usually don't answer critical business questions," says Paul Viviers, a director of PM Sight.
"Such as: Which investments are strategic and aligned with business need? What are the investment priorities? What value is being returned to the business for each item or each portfolio? If the budget were increased or reduced by 3%, what would our priorities be then? How do we coordinate investments across departments? Are our investments adequately diversified? Adequately balanced?"
He advises that organisations need enterprise investment management (EIM) solutions which will enable them to propose, plan and control their investments to derive optimum business value. PM Sight has a proven track record of deploying portfolio management solutions that manage any kind of investment, meet the strategic (planning) and operational (control) needs of the organisation, and scale to the enterprise.
The benefits of EIM
Viviers explains: "PM Sight manages enterprise investments as a set of portfolios where each portfolio contains a set of investments and candidate investments in a given domain, such as IT applications or marketing investments. Taking a portfolio management approach means all investments are proposed and then consistently evaluated against an agreed set of criteria, resulting in an objective measure of an investment's 'goodness'."
The benefits are enormous, and often provide a very short-term payback. These include vastly improved communication and active participation among all affected stakeholders, agreement on a common and shared process for proposing and approving investments. A transparent process consistently applied that results in organisational buy-in. Rationalisation of existing investments that can result in near-term savings of 10-20% of the portfolio's value. Freeing up funds to invest in innovations that contribute to business transformation
"Using a consistent toolset across various sets of investment portfolios makes it far easier to share information and deploy similar processes throughout an organisation. PM Sight is product agnostic; having said this our preferred choice for enterprise investment management is ProSight," says Viviers.
"ProSight has a unique ability to interrelate various portfolios and also provides an unprecedented level of coordination across various departments throughout the company."
In conclusion, whether you're seeking a solution for a single portfolio, or looking to coordinate multiple departments around common goals, ProSight's solutions enable you to start simple and incrementally improve processes or bring additional departments online.
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In today's competitive marketplace, an 'effective' business is one that delivers on its strategy positively effecting the bottom line.
Ask yourself: Are you receiving return on your investments? Are all your projects rationalised according to the investments being made in them? Which assets should be kept or retired? Which IT applications are helping to transform the business? Which research programmes are worth funding, and which ones should be curtailed? Is your answer maybe, or worse yet, no?
We can help you answer these questions accurately. We enable organisations to improve business performance, efficiency and profitability through the disciplines of project and portfolio management. As an end-to-end solution company dedicated to optimising business and performance through PPM initiatives, PM Sight assists organisations to effectively implement their business strategy by effectively using their people, process and technology. We believe in finding solutions and believe organisations should invest in solutions that have ROI to the company.
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