Why Focused Technology Project Management is a Must
In today's fast-changing tech world, opportunities abound to improve IT offerings—as do the challenges associated with adopting new practices and systems on budget, on time, and on mission. Still, more than half of all IT projects are failing, according to a recent study. A survey of 126 IT professionals found that 55 percent of them had experienced a project fail—a significant jump from 32 percent in 2014. Why? Because, all too often, well thought-out projects fail because resource allocation does not align with business goals.
Effective project management represents a powerful way forward—but it's often left by the wayside. It's easy to understand the desire to cut corners: Budgets are ever-tightening despite relentless demand for fast, reliable information delivery. Why invest in a traffic cop who dots the I's and crosses the T's when the real priority is the tech development itself?
The reality is that the role of project management has changed dramatically over the last few years. Its importance has grown as technology strategy has become more central to business strategy. Investing in smart project management can not only drive project success rates, but also can increase the value of the technology investment by ensuring that technology selection, implementation, and adoption plans are aligned with larger business strategy.
A tech-savvy project management office (PMO) can guide technical decision-making in a way that keeps business goals consistently front and center throughout the process. Helmed by a tech-savvy project manager who understands the business goals and the technology, every new initiative can support the strategic vision—and be brought to life on budget and on time.
In short, project management office pays for itself by keeping a valuable technology initiative from going off the rails and over the budget. It's an investment in protecting a much larger investment: your technology.