Strategic project management is the next big thing within the project management community. A popular and growing trend that is slowly sweeping the business world. The main idea of the concept is based on project management teams learning how to support their company's strategy and deal with the business aspects of their projects. Rather than just focusing on traditional project management issues - budget, goals, and timelines. Project management is a set of methodologies and frameworks responsible for moving a project from start to finish. But you need a strategy to shape the decision about products and initiatives, including projects. Strategy without projects is almost as useless as projects without a strategy. Strategic Project Management (SPM) defines the big picture of how the project may benefit the company's efficiency and as a whole. This process combines project management methodologies and frameworks and business strategies to drive organizational breakthroughs. It's accelerated by brainstorming and problem-solving activities so that a project will not only be completed successfully but more efficiently and faster.
Amplify is a leading global SaaS solution and is proud to service leading enterprise customers across a variety of sectors. Amplify's strategic program management solution empowers organizations to plan, manage, and impact business transformation, cost optimization, sustainability goals, innovation, and more. Theyleverage your existing tools with their proprietary stage gate feature to get cross-functional shareholders and data out of silos. Your projects, your priorities, and your processes all connected to enterprise-wide strategy realization. From net zero to new business, they’re “mission control” for goals. Amplify keeps you on track by focusing on outcomes that matter, providing your team with the insights you need to identify and respond to challenges before they impact your bottom line. To meet the expectations of stakeholders who want transparent disclosure regarding the ESG impact, organizations need to be able to clearly track and report on such impact, and any improvements delivered by sustainability initiatives. Amplify helps guide intergration tasks, track synergy outcomes and optimize ROI through a single, collaborative platform.
The Amplify-Now Platform
The move from "management by objectives" towards "management by projects" has caused today's strategic project managers to develop greater awareness of the business's vision and mission, instead of focusing on a specific project goal. At the same time, strategic project management has become an addition to tactical project management. One of the goals Amplify shares in common with their customers is to be more sustainable. If they're going to help the community track and reduce emissions as they monitor the impact of 100+ initiatives to quantify (and celebrate) their success, it’s important they make the same efforts themselves. When introducing Amplify to future clients they are often presented with a dilemma: Teams are tasked with executing a transformation to maximize the return on investment (ROI) – whether it is through cost reductions, synergy targets, revenue enhancements, etc., and they are proposing a solution that will add an investment in software licensing costs.
Reducing Risk: Everyone have all heard the stories related to disastrous transformation programs, especially related to digital programs (CIO magazine featured some interesting anecdotes here). Programs run way over budget, extend well beyond their projected timeline, and fail to deliver the capabilities that enable value capture. These critical failures can severely impact the overall financial fitness of an organization, necessitating deferred investments, operational cuts and other drastic measures to offset the losses. With Amplify, teams have the transparency and access to data to identify and address challenges before they spiral out of control. Additionally, Amplify features stage gate processes to serve as structured checkpoints throughout an initiative’s lifecycle, providing a regular check on progress and an opportunity to reassess the business case. The combination of transparency, accountability and regular checkpoints help program teams identify and steer clear of the disasters that can severely impact an organization.
Improving Efficiency: The most straightforward ROI lever is the opportunity to improve the efficiency of the PMO team through automation of regular, repeatable tasks. Data collection and reporting can be streamlined and automated with Amplify, reducing the effort required by the PMO team. Often it is seen that the team members who would otherwise be generating reports are reallocated to higher-value activities, such as active tracking and management of the initiative portfolio. In one example an Amplify client was able to reallocate 60% of its PMO team from report creation to program monitoring. Realizing the full impact of efficiency gains often requires commitment outside of the PMO team as well. Senior leaders who are used to having PowerPoints prepared on a bi-weekly basis need to adjust to viewing data in Amplify’s embedded Power BI reports. Initiative leads and KPI owners who would typically email their updates to their PMO point of contact for inclusion in the Excel model need to log into the tool to directly provide their updates. Note that these efficiency gains will also provide effectiveness benefits. When executives log directly into Amplify they will be able to see the latest statuses of their programs, not referencing reports that were created weeks ago. When stakeholders are logging their program updates directly into the tool it supports ownership of the initiative, rather than just providing updates to the PMO team for “their” program.
Prashant Chandra | CEO