Part 4: PM Software is from Mars…or is it Venus? What is Enterprise Project Management

1 June 2015
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Continuing on in this 6 part series, with Parts 12 and 3 complete, we now arrive to the discussion of Enterprise Project Management software.

Enterprise Project Management (EPM) is the daily management of multiple projects, simultaneously.

In our previous blog, we focused on the notion of Project Management, which to some degree can be thought of as working within a vacuum, with a single project focus. Comparatively, Enterprise Project Management software takes a holistic view of multiple projects. Below is an excellent definition of EPM by Genius Project’s Director of Product Strategy:

“Enterprise Project Management takes a holistic approach to managing projects with great consideration given to their impact on the people, processes and corporate objectives. The idea is to develop a project management environment based on a group of interrelated goals that are linked to a single group of people with finite availability and talent.”

Consider Enterprise Project Management the way you could view real estate. From an investment standpoint, when you consider buying a home, you can’t simply look at the home as disconnected from its environment – you must base your decision, by taking a look at the entire community. Now let’s say that the home you are interested in purchasing has some foundation issues, but that the location is great, you may find by looking at the community and its increasing value, that it could still be worth it. Well as you may have guessed it, this mirrors the principle of Enterprise Project Management; which requires looking at the whole picture to asses how one project (factor) affects the other (the community), and vice versa.

With this in mind, it is evident for businesses that manage multiple projects, to adopt a software that will provide a complete view of their resources; in turn the best resources can be assigned to the most profitable projects. But as with most of the categories in the PM & PPM market, the lines often get blurry between software options for Project Management vs Enterprise Project Management.

If your business is on the hunt for an EPM tool, it is essential that the software offers strong scheduling, dashboards, reporting capabilities, & project management workflows with the ability to look at all resources across multiple projects. Here is a list features the software should include:

·         Project Portfolio Management

·         Planning & Gantt Chart

·         Resource Management

·         Time & Expense Tracking

·         Project Tracking

·         Cost & Budget Management

·         Demand Management

·         Document Management

·         Social Team Collaboration

·         Risk & Change Management

·         Dashboards & Reporting

·         Phase Review Support

·         Workflow Management

The key difference between good project management software and excellent Enterprise Project Management software, is the intelligence in providing a holistic view into the status of your projects and resource availability and ultimately, the ability to deliver projects which are in alignment with the strategic goals of the organization, as a whole.

Stay tuned for our next blog on Portfolio Project Management. In the meantime, we invite you to to explore how Genius Project can address your Enterprise Project Management needs.

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