Don't just know how many projects, but also their current status
If you were to walk into the building of any company around the globe, ask to speak to the managing director and then ask that managing director to go through their project list with you, would it surprise you that an audit would prove this was not the definitive list. This has been our experience on several occasions. Why? We feel the main reason is a lack of transparency and prioritisation. People are afraid to kill projects and hence end up running too many (which actually means not running any).
A lot of the time, gaining the knowledge of how many projects are being run is a complete run around. Asking every senior manager in the company for their project list is time consuming and tedious, and results in someone having to inform the managing director that there are actually 200+ projects on the go, instead of the 30 he was actually aware of. In larger organisations, this can mushroom into an enormous task that is out of date by the time it is completed (e.g. treasury department capital expenditure reviews).
What’s worse is, a lot of the time, projects will be product-related, will have market-announced release dates for the calendar year and will have no people working on them. This results in the project failing to be completed and the company having to be accountable, not only internally, but publicly as well.
UniPhi’s web based project portfolio management software supports the simple priority and stage gate approvals of projects and then displays the results in a transparent manner for all to see.
Prioritsed list of new product development projects in Manufacturing sector
The use of the prioritisation framework and stage gate funded project life cycle means that there is always a project list, which is classified by stage, priority, budget and end-date. The transparency of this allows for everyone involved in any and all projects to see exactly where they’re at right now, not tomorrow when it’s too late.