Advanced Business Continuity Concepts Training Consulting Services

There are two important goals that should be met to get a handle on IT projects.

1). A baseline study is an important first step in determining where the company stands in relation to best practices and corporate goals. Part of this study should also include a comparison on how the company currently meets their customer’s needs and expectations and what can be done to improve performance. A cost/benefit/risk analysis should be included to document potential savings if an IT project management office was established.

2). Develop a generic set of measurements to improve project planning, tracking and reporting. This will allow management to calculate Opportunity Costs, Payback Period, Net Present Value along with Earned Value measurements that will let management know where a project is in terms of cost, schedule and risk.

Cost savings estimates, once a project Management Office is established, range from 10-15% to 20-25%. Using the more conservative estimate, out of a project budget of 55 million dollars, this could be a savings of 5.0 to 7.75 million dollars per year (savings estimates include an average Project Management Office cost of $569,981 – The Value of Project Management: Getting Executive Buy-In (2002)).