EPM
Project Management Strategy
We help your business take full advantage of Enterprise Performance Management (EPM) technology to increase functionality and efficiency.
EPM Strategy
Over the years, organizations have seen how Enterprise Performance Management (EPM) has progressed as a technology and a way of linking operational and strategic controls to increase their functionality and efficiency.
EPM encompasses useful tools meant for strategy management, financial consolidation as well as budgeting and planning. These applications are employed to facilitate strategy management and to push for appropriate operational actions.
Our goal and strategy here at ARC EPM is for businesses to achieve more with less. Our solution entails:
- Gathering all necessary design requirements
- Develop a comprehensive, well thought out project plan
- Identifying internal/external resources
- Developing a communication plan to effectively manage your projects
- Having a clear understanding of the business objective and goals
- Examining the current business processes and identifying requirements early on in the following areas:
- Functional requirements
- Operational requirements
- Design limitation
- Analyzing data, and outputs
- Developing a comprehensive, well thought out project plan that includes developing the system administrator during the process
- Developing a communication plan to effectively manage your projects and identify risks
Project Management Process
On this phase, the objectives of the project plan are evaluated. This stage encompasses certain goals to examine current business processes, collect and analyze data, and to understand organizational goals and objectives. It is important that organizations have carefully selected a project that covers their objectives and goals. The project should be able to reflect the success of the business and confirm purposes that contribute to the success of the business. If it does not, the project is just a waste of resources, time and money that distracts the business from its core mission.
Every project in an organization requires an in-depth and collaborative planning to: set goals and objectives to outline the roadmap for project execution, identify, and set controls for the project's implementation.
A CLEAR, and comprehensive project plan is necessary to objectively assess the health of your CPM/EPM project.
- Collaborative – The goal should encourage employees to work together
- Limited – They should be limited in scope and time to keep it manageable
- Emotional – Optimize the quality of work by tapping into the passion of employees.
- Appreciable – Break larger goals into smaller tasks that can be quickly achieved
- Refinable – As new situations arise, be flexible and refine goals as needed
Establishing baselines or performance measures is essential for monitoring: cost, quality, resources, and managing risk.
When in the building stage of the project management, it is expected that an open communication is laid out among the people involved so that the project moves on the right track. Since this part usually takes most of the time and resources of the organization, it is fitting that the administrators monitor the build sequence of the stages. Deployment of the project stages will also immediately notify all stakeholders involved.
A comprehensive project plan must include training, and unit testing throughout the project plan. This can be accomplished by identifying volunteers within your organization and gaining their commitment early on. Each stage of the project must be tested independently, and then tested in conjunction with other components. This allows issues and/error to be addressed in advance in preparation for parallel testing
Project plans must include parallel testing to ensure:
- The outputs generated agree to the source system
- Issues and/or errors are addressed timely
- Allow time for additional user training
- Collect feedback from unit testers for improving the end-user experience and/or processes
Minimum of 2 scheduled parallels is highly recommended to ensure the business processes are efficient, consistent, and repeatable.
Planning is key to successful project management and focuses on developing a roadmap that everyone will follow. When a business starts a project, it can be assumed that the project is meant to increase productivity, grow the business, and/or minimize cost.
ARC EPM's approach to project management involves routine project status meetings, weekly project status reports, change management, issue resolution, and risk management.
Get Results On Your Next Project
The finance experts at ARC EPM offer complete consultancy and support services to help your organization implement all the functionalities of the platform. Our combined years of real market experience and thorough training allow our professionals to give valuable insight into how your company can use EPM Solutions to improve your business performance.
