Who’s Watching Over Your Business Projects?
To leverage a Project Manager or not leverage a Project Manager. It doesn’t have quite the same ring as “to be or not to be,” but it’s a decision businesses struggle with often. Some elect to go without, assigning the task to a project’s lead engineer or tacking those duties onto another employee’s workload. These businesses may view a dedicated PM as a luxury rather than a necessity – a misconception that could spell disaster.
At Arraya, we’ve taken part in countless IT engagements. We’ve witnessed the rewards that can come from utilizing a Project Management team like the one we’ve built – and the risks that can arise from failing to do so. Engineers focus on the inner-workings of a project. Average employees may lack the skills and experience needed to shepherd a project to completion. This can lead to a project going beyond – sometimes far beyond – its initial scope, timeframe, and budget.
Consider a statistic featured in a Harvard Business Review article entitled “Why Your IT Project May Be Riskier Than You Think.” The article states that when IT projects overshoot their budget, on average they do so by 27%. However, one-in-six projects that go over-budget go significantly over, to the tune of 200%. These projects can also eclipse their allocated timeframe by nearly 70%. Any time a project exceeds budget or scheduling limits, it can cause problems. Overshooting them by that degree? That can be catastrophic.
5 places PMs deliver value
A dedicated Project Manager can spot and address the scope creep that leads to meltdown scenarios like the one described above. However, that’s only part of their value. The full picture of their worth isn’t always that obvious – hence why some businesses feel comfortable proceeding without their support. Our goal is to correct that misunderstanding by showcasing the sometimes-unseen value of Project Managers over the course of a series of blog posts.
Each post will spotlight one of the five phases of project management, incorporating a blend of statistics and personal anecdotes from our team to show the difference made by having a PM in the driver’s seat. Blog posts will cover:
- Initiation – In order to set a project up for success, time must be spent laying the groundwork by establishing lines of communication, project scope, plans and more.
- Plan & Design – Projects will stumble or fall short of their goals unless the right resources are available at the right times – and everyone, on all sides of the project, knows what’s expected of them.
- Implementation – Projects can’t only be observed up close. They need someone with a big picture view who is dedicated to keeping all stakeholders and participants updated as the work progresses.
- Monitor & Control – Sometimes challenges don’t present themselves until work has already begun, triggering missed deadlines, increased costs, and upset stakeholders – if project teams fail to adjust accordingly.
- Closure – Upon completion, it’s necessary to review a project to determine if it met the stated objectives and what – if anything – can make the process run more smoothly the next time.
Arraya Project Management: Value beyond IT
Are you interested in a more in-depth conversation around Project Management? Reach out to our team simply by clicking here. They can take you through the impact Arraya’s Project Management team can have on all of your business’ projects – not just those related to IT.