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Investing In Enterprise Project Management Essay

925 words - 4 pages

Justifying the investment in enterprise project management for IT projects.
Information Technology (IT) can be expensive, but it is as necessary in the digital age as typewriters, file cabinets and telephones were not a half-century ago. Company growth and long term sustainability is hinged on investing on proper IT infrastructure. Yet, there are many examples of failed IT projects. What differentiates successful IT projects from failed ones? According to the Project Management Institute (PMI, 2014), it’s the methodologies that a company uses when they undertake the projects. Project Management is a strategic core competency essential to every organization. Investing in enterprise project management for IT projects is key to in ensuring the success of the project and the organization’s long-term success.
Most IT projects fail. IT projects, in general, are plainly harder, because IT is intangible and complicated by shifting business needs with demanding stakeholders. Of the IT projects conducted in 2004, the Standish Group found only 29% were completed successfully (Philips, 2014). IT projects fail at the beginning. They are poorly planned and rushed with a hastily defined or too grandiose scope. Take for example, the implementation of Enterprise Resource Planning (ERP) software. In 2012, companies spent 24.5 Billion on ERP products (Columbus, May 12, 2013). Many companies find the idea of an integrated real-time view of the of their core business processes very attractive. Their failure is their lack of understanding of the all-encompassing nature of a transition to ERP, which could be a multi-year and multi-million dollar investment (Bingi, Sharma & Godla, 1999). Once undertaken, the ERP transition is difficult or impossible to reverse and, in additional to losing the capital investment, they could jeopardize their core business. An Enterprise practicing Project Management (projecticized Enterprise) would know to avoid the ERP integration as their first project. A projecticized Enterprise would also know how to successfully implement an ERP project for their organization.
Project Management is a hot topic that is evidenced by the incredible number of results that are found on the Internet. The PMI defines a project as being a temporary endeavor to produce a unique service, result or product (PMI, 2014). The ephemeral quality of projects lends to many companies handling each project as if they were reinventing the wheel. Project management is the application of the knowledge, skills and techniques to execute projects effectively and efficiently. From 2005 to 2011, Project Management as a profession has grown 30% due to increased globalization and the need for fast development (Larsen, 2011). A professional can be certified in the Project Management methodologies. They can adapt the best practices they have mastered to the needs and culture of their Enterprise. The PMI believes an organization can successfully execute...

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