With knowledge work taking on greater importance and risk in company strategy, the rapid and predictable execution of project work is becoming a core competency.
Projects have one defining feature which make or break project budgets: Project variability and execution risk. Traditional critical path and PERT-based approaches no longer meet the elevated performance requirements for rapid execution, dependable project completion commitments, and predictable cost. Our global management consulting work over the past 20 years with flow-based project execution tools versus capacity-based tools has a proven 30% reduction in project duration and 97%+ on-time project completion performance.
Instead of focusing on the successful execution of individual tasks in a project, our business strategy consulting team keeps the focus on early and frequent assessment of variation in task duration supported by active resource and priority allocation.
Rather than measuring each task, our approach, based on the pioneering work of Dr. Eli Goldratt, introduces the concept of buffer management. Buffer management enables management to externalize, evaluate, and act on task variation before the project due date is placed at risk. The concept is illustrated below:
The buffers are not contingency allowances but represent a window into the buffer consumption relative to the due date. Tracking buffer penetration over time enables management to see variation over time as shown below:
The same concept applies to managing a portfolio of projects which provides a single-management view of all projects and their progress. The buffer chart below shows the status of all projects in the portfolio:
Our model of training, software, and professional support helps successful companies deliver projects ahead of customer expectations in a reliable and predictable manner at lowest cost.
At Akzeon, you can be sure that you’re getting the best and most up-to-date organizational management consulting recommendations that come from not only research but also success in the field. Our experience puts us ahead of the competition. Take advantage of our knowledge to turn your business into an industry powerhouse.
Akzeon also offers Emergency Project Management Services. This is for those times when a project went sideways or completely wrong, missed targets, went over budget or went past the deadline. Akzeon is here to help get you out of the mess. If you are in need of Emergency Project Management Services please reach out immediately and we will get back to you as fast as possible. We know that time is money, and even more so when the project has already failed.