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Project Management Diagnostics
A leading Indian industrial manufacturing company conducted a comprehensive project management audit to improve practices and overall maturity level.
Overview
The company, involved in serving industrial components and related projects market, decided to commission an audit of its internal project management practices to move up the maturity curve leading to improved profitability.Challenges
- A detailed review of overall project management processes and various element level practices suggested that for most part, the processes were at basic level with unstructured practices, standards and without central coordination in place.
- On the project management maturity model, the organizational practices appeared to be around Level 2 on a scale of 1-5.
- While there was a strong focus on project execution, the organization clearly lacked robust processes.
Solutions
- Through our structured and detailed review methodology, the process gaps were identified at two major divisions of the company and recommendations made.
- Audit confirmed an ad hoc and person driven project management instead of a process driven one.
- Establish Baseline Through data gathering and interviewing key stakeholders, to understand current state of project management practices and challenges.
- Gap Analysis Detailed review of various Project Management elements and key drivers against global best practices such as – budget/actual costing, timelines, procurement/vendor controls, internal documentation controls, risk management etc.
Results
Our rigorous audit exercise provided visibility into key enablers for the company to move up the project management maturity curve leading to improved profitability.
Key outcome of this exercise included –
- Clear roadmap to improve project management maturity that included establishing a PMO to assist in robust planning, monitoring and real-time decision making.
- Increased visibility into the data segments and potential opportunity areas.
- Opportunity to strengthen the budgeting process with granular level back-up documentation.
- Significant opportunity to establish a structured and robust vendor development program.
Strategic planning for projects using a project management maturity model is critical to improve overall project performance
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