A global study has shown that project success rates have risen considerably during the past decade, as organisations tend to implement smaller and less complex projects, implement better project management and make greater use of standard infrastructure.
Fulcrum Business Solutions enterprise project management consultant Lyzette Lourens says the Standish Group`s Chaos report, the most cited study in project management, stated a 16% global project success in 1994, rising to 26% in the 1998 study. There is a 28% success rate among current projects studied, with more projects moving from the "failed" category to "challenged".
"Organisations are becoming more experienced and educated in the field of project management," Lourens says.
Large companies, she says, have shown more success in the Standish Group study due to the establishment of enterprise-level project management offices that become the organisational home for project management and close the chasm between projects and executive sponsorship.
To further improve the success of project management, Lourens says organisations need "islands of stability", which will guide project management teams and ensure the integration of project deliverables into the organisation.
These "islands of stability" would require a sustainable corporate strategy and project management culture, as well as capable and adequate human capital to deliver results, she adds.
"All this should be pulled together in a strategic project office (SPO) or enterprise project management office (EPMO). But there are some challenges in initiating an SPO or EPMO."
Most organisations, Lourens says, have shown a low understanding of the cultural change requirements, the capabilities of enterprise project management (EPM) accessible to the organisation, and the consensus on the approach to EPM within the organisation.
She points out that there are five elements of a successful EPMO. This includes continually refining project management processes to improve future results; conducting frequent, thorough reviews; employing full-time project managers to drive success; maintaining consistency in project management delivery; and using collaborative tools to facilitate project delivery, communication and accountability.
Instead of organisations getting bogged down in a toolset feature-by-feature shootout, or allowing vendors to dictate functionalities and toolsets to them that do not necessarily meet their requirements, companies can simplify the EPM deployment process, she explains.
This can be done by employing best practices and implementing a packaged enterprise project management solution, carefully designed to meet the generic organisational project management requirements
, Lourens says.
"Organisations need to consider innovative ways of putting in place an EPMO, and realise the need for a standard infrastructure and tools that make the life of project managers easier and the delivery of projects more successful."
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