
The Business Problem – Program and Project Delivery. Research and surveys from leading subject matter experts (SMEs) report that approximately 50% of projects fail to meet their objectives.
Impact of Delivery Issues – the products and services that the projects are intended to deliver can be significantly late, over budget, of less scope, of less quality, and/or not realize planned benefits. The strategic and financial impact that delivery issues may impose on a program or project can be staggering. As a result, project delivery represents a significant opportunity to improve profitability, customer satisfaction, and/or organizational effectiveness.
Positive Trends in Project Management – the following are a few positive trends occurring in project management:
The Challenge – while there continue to be positive trends, the delivery gap has not closed beyond that of a “coin flip”. What is lacking are alternative risk mitigation solutions that provide the standards, products, and services to improve the measurement and assessment of project performance – the first step to improving delivery results. When properly planned and executed, Program & Project Assessments assist organizations with meeting delivery commitments by providing timely performance feedback, such that proactive measures can be put into place to address shortfalls before they become larger issues.
Program & Project Assessment (P&PA) – a structured evaluation of one or more project subject matter areas where performance is measured and assessed against established baselines. The following graph contains a comparison of PMBOK® 4th Edition, PRINCE2® 2009, COBIT® 4.1, and PROJECTRx® relative to P&PA. It should be noted that:
The results are based on an evaluation of the respective frameworks relative to key features of an effective Program & Project Assessment framework. The PMBOK® results are consistent with a ProjectRx Survey where 77% of the participants thought that PMBOK® does not adequately address project assessments. Click here to view the survey results: ProjectRx Survey.
PROJECTRx® - no surprise here since PROJECTRx® was developed specifically for Program & Project Assessment (P&PA)
PRINCE2® - while PRINCE2® incorporates key elements of project assessment, it lacks the corresponding detail and several assessment components. PRINCE2® was developed to be used as an overall framework and the OGC does not plan to offer prescriptive detail
COBIT® - a well defined assessment framework. However, COBIT®’s focus is on IT governance – only one of the thirty-four COBIT® processes is related to project management. The ITGI does not intend to provide additional project management detail.
PMBOK® - while PMBOK® may be the most widely used project management framework, it contains numerous Program & Project Assessment gaps, many of which reside outside the scope of the Project Management Body of Knowledge®
Why use Program & Project Assessment (P&PA)?
Why use PROJECTRx®?
The project management and assessment frameworks available from leading Subject Matter Experts (SMEs) lack the combination of assessment integration, framework, tools/automation, and project management content. Relative to P&PA,
The PROJECTRx® Solution
The PROJECTRx® Solution has been positioned to bridge the gap between Project Management and Audit / Assessment Frameworks. It features the integration of proven assessment processes, state-of-the-art tools, and corresponding education, training, and mentoring.
PMBOK is a registered trademark of the Project Management Institute, Inc
PRINCE2 is a registered trademark of the Office of Government Commerce (UK)
COBIT is a registered trademark of the IT Governance Institute
PROJECTRx is a registered trademark and service mark of ProjectRx, LLC