Download pptx - Improving project profitability by assuring on-time, quality delivery

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COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS

MASTER CLASS WEBINAR SERIES

Better Business Performance for Professional Services Organisations

Improving project profitability by assuring on-time, quality delivery

PAGE 2 • PSO MASTER CLASS SERIES


Hyper-Efficient Project Management

Ensure On Time, On Budget Delivery Avoid delayed costs and overdue expenses

Proactively manage every detail of every project

Ensure full visibility into the status of each project

Ensure flexibility

Respond when events deviate from plan

Avoid “Happy Accidents or “Pleasant Surprises”

Rely on Assurances and Certainties



Manage the Unexpected

Build the Right Foundations Comprehensive plan and budget

Implement the right management tools and processes

Take account of the human element

Elevate the importance of delivery

Plan for eventualities and change

Provide the visibility and agility to respond

Avoid issues escalating

Safeguard profitability



Adopt the Competitive Option

4% of leaders have real-time visibility into the status of all processes from quote to cash compared to 32% of followers.”

If a project is headed south, companies with attentive monitoring will know right away and, most importantly, before it is too late to take action.”

Aberdeen Group – Project Management in Professional Services: Managing People for Profits (July 2012)



Adopt the Competitive Option

Running a knowledge and skill-intensive business like Professional Services with disconnected applications, spreadsheets and email is no longer a competitive option. Efficient execution of core business processes demands visibility, transparency and control.”

Time, cost, engagement progress and quality are critical elements which must be tracked throughout the client lifecycle.”

SPI Research The New Growth Engine: Sales and Service Alignment (May 2011)



Visibility: The Prerequisite of Efficient Project Management

• Understand the status of each project• Measure the progress of each task or deliverable• Keep all team members and stakeholders informed in real timeCheck• Measure the impact of change• Keep task progress and completions up to date• Input and review regular project status reportsVerify• Ensure each team member is aware of their contribution to the

success of the project• Utilise PSA Software to deliver visibility and ease adminDelegate• Ensure all project team members have a single version of the truth• Connect all team members and project stakeholders through a

single solutionCoordinate• Ensure on time, on budget, quality delivery• Drive increased customer satisfaction• Celebrate successful, profitable project deliveryCelebrate



Agility: The Prerequisite of Responsive Project Management

Be ResponsiveAnytime, Anyplace, Anywhere

Find a better way

Keep up the pace

Drive rapid responses

Satisfy more customers more often

Embrace admin as a core driver

Focus on success factors



Project Success in Professional Services

On Time

The top pressure [faced by project managers] is customers frequently changing their minds mid project (41%). Professional services project managers can end up wasting time and, most importantly, scarce resources to meet vacillating customer demands.

Aberdeen Group – Project Management in Professional Services

77% = Industry average

89%

On Budget

86% = Industry average

94%



5 Ways to Improve Project Profitability

Deliver best. Better Improve Planning - Track every detail to empower vision

Collaborate Effectively - Provide a single version of the truth

Measure Progress - Set alerts to maintain momentum

Control Costs - Monitor budgets and cope with change

Eliminate Errors - Ensure smarter billing practices



Track Every Detail

Knowledge is Power Avoid errors and late billing

Drive process efficiencies

Write out write-offs

Ensure access to the latest information



Provide a Single Version of the Truth

Work Together Avoid time consuming second

checking

Instil confidence in the current status view

From boardroom to frontline

Role-specific interfaces

Complete portfolio



Set Alerts to Maintain Momentum

Keep Everything on the Radar Incorporate standard risks

Set thresholds addressing profitability

Stay aware of all exceptions

Realign delivery commitmentsas necessary

Manage client expectations



Monitor Budgets and Cope with Change

Knowing is Achieving Capture costs, drive efficient billing

Avoid bill-shock

Maximise additional billing opportunities

Enrich client relationships

Look good, feel good



Ensure Smarter Billing – Keep On Top

Drive Positive Outcomes More accurate – ensure invoices are

accurate and up to date

More timely – utilise standard billing processes to invoice correctly and on-time

More detail – eliminate billing errors through accurate time and expense capture

More transparency – ensure no cost or billing milestone gets overlooked

More is more – smarter billing ensures stronger customer relationships and on-going profitability



The Role of Technology

Empower the Business• Professional Services Automation

(PSA) improves:

– Visibility

– Insight

– Control

– Accuracy

• A cost-effective project management system saves money, improves efficiency and increases profitability

• Software supports your core skills

Visibility Insight

Control Accuracy



Increasing Client Satisfaction, Increasing Profitability



Summary – The Centre of Excellence

Improving Business Performance by Assuring Project Profitability Tight project control means never having to say you’re sorry

Track every detail to empower vision

Provide a single source of the truth

Set alerts to maintain momentum

Monitor budgets and respond to change

Ensure smarter billing to drive cash flow



Useful Resources

INCLUDES: Supporting whitepapers, Webinars, PSO Insight blog and FREE trial of KeyedIn Projects

Visit: www.keyedinpso.com



Take a Free 15 Day Trial Today• Easy to adopt, easy to use

• Intuitive

• Minimise IT cost and deployment effort

• Delivery is backed by impressive Service Level Agreements

• Interfaces with ERP, CRM or financial/accounting software



Questions and Answers

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