How to control project costs to deliver greater project value

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In this session we’re exploring ways of understanding, gathering, recording and controlling the true costs of project administration. The principles we’ll be looking at apply to any type and size of …

In this session we’re exploring ways of understanding, gathering, recording and controlling the true costs of project administration. The principles we’ll be looking at apply to any type and size of professional services organisation working in any sector.

We’re going to look at five best practice approaches that will help you achieve lasting cost savings. One of the areas we’ll touch upon I’m sure is close to your hearts -- and that’s how admin sometimes has a tendency to assume almost as much importance as actually delivering services to clients. I’m not going to suggest that good governance isn’t best practice…of course it is. But sometimes the reporting requirement becomes so onerous, managers run out of time to manage.

There are costs and opportunity costs associated with the reporting imperative. There are also timing issues to think about -- issues are often only spotted when reports are complete, rather than at a time when they could be avoided.

So, one of the key areas I’ll be taking you through today is the use of automated reporting to ease the burden and free managers up to manage and make a real contribution to driving the company forward rather than just burying themselves in post-events analyses and always looking backwards.

The name of the game is project success and everything we’re looking at today is designed to help you guarantee that your company delivers nothing less than its best performance every time, on every project.

Whatever field you work in this webinar will give you some ideas on how professional service delivery can benefit from failsafe systems that support the efforts of your fee earners and drive more profitable outcomes for your company.

More in: Technology , Business
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  • 1. PAGE 1 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Better Business Performance for Professional Services Organisations How to control project admin costs to deliver greater project value
  • 2. PAGE 2 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Administrative Processes should not be a burden Is Admin the Backbone to Company Efficiencies or just a Burden?  Reports are action documents, not light-reads  But there are only so many hours in the day  And so many people  Who need to know so much if the act of reporting itself becomes all- consuming, then the value of doing it evaporates….
  • 3. PAGE 3 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Admin Information Insights Outcomes The Backbone of Project Management The Automated Alternative  Set requirements in advance for smoother project delivery  Survey the entire project portfolio to benefit from economies of scale  Reduce time on compiling information, free time up to learn from the information
  • 4. PAGE 4 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Improve Your ROO Better Use of Resources  Understand the status of the entire Project Portfolio and overall Resource Deployment  Provide Real Time access across any Device from any Location  Accessibility drives the better use of resource time  The more you can see relevant information, the more you can control costs  Deliver better, faster, more cost-effectively
  • 5. PAGE 5 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Improve Your ROI Cost Savings Create Costs Savings  Refocusing attention away from admin leads to more inspired thinking  Base actions on insights  Quality use of time generates better results and that makes more cost effective use of resources  Results in higher quality project delivery  Increases the Return in Investment in Talented Resource  Avoid human error, trust the machine  Control costs, avoid risks, address contingencies
  • 6. PAGE 6 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Project Success in Professional Services On Time The top pressure [faced by project managers] is customers frequently changing their minds mid project (41%). Professional services project managers can end up wasting time and, most importantly, scarce resources to meet vacillating customer demands. Aberdeen Group – Project Management in Professional Services 77%= Industry average 89% On Budget 86%= Industry average 94%
  • 7. PAGE 7 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS 5 Ways to Achieve Lasting Cost Savings Tighter Admin Drives Greater Project Profitability and Reduces Costs  Automate everyday tasks  Simplify change management  See potential issues earlier  Focus on process improvement  Empower project teams and staff Deliver best. Better.
  • 8. PAGE 8 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Streamline Administrative Tasks Focus on your core skills  Admin supports delivery: it doesn’t replace it  Automation liberates core skills – focus on what you do well, and do it better  Delegate the tasks but elevate the process  Visibility → control → better ROI  Streamline the way you do things
  • 9. PAGE 9 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Simplify Change Management Avoid Panic and Respond to Change Effectively  Build in solutions to potential changes in customer demand  Scenario planning supports contingency preparations  Spot potential issues with comprehensive visibility of every detail  Assess the impact of change and manage customer expectations  Keep your team connected
  • 10. PAGE 10 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Spot Potential Issues Earlier Expect the Unexpected  Define an issue resolution plan at the start of the each project and continually review  Good contingency planning will help absorb the shock and maintain project progress  Understand the wider picture with Strategic Resource Management  Minimise impact of change on project costs  One hub and everything links in
  • 11. PAGE 11 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Focus on Process Improvement Take Back Control  Minimise errors  Streamline administration  Improve project quality through standardisation:  Project planning  Time and expense logging  Risk management  Contract management and billing  Project status reporting
  • 12. PAGE 12 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Empower Project Teams and Staff Improved Processes. Drive Efficiency.  Make all individuals more time conscious and more time-efficient  Drive better project delivery  Focus on your greatest asset – your people  Become a great company to work for  Deploy best practice and attract the best staff
  • 13. PAGE 13 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS The Role of Technology Empower the Business • Professional Services Automation (PSA) improves: – Visibility – Insight – Control – Accuracy • A cost-effective project management system saves money, improves efficiency and increases profitability Visibility Insight Control Accuracy
  • 14. PAGE 14 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Increasing Client Satisfaction, Increasing Profitability
  • 15. PAGE 15 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Summary – Deliver Greater Project Value Control Your Costs. Control Your Destiny  Consign hidden, unbillable, unnecessary costs to history  leverage tighter admin as the backbone of better project delivery  Automate everyday tasks: Visibility → control → better ROI  Simplify change management – avoid major upheaval  See potential issues earlier – plan for contingencies and manage resources  Focus on process improvement  Empower project teams and staff
  • 16. PAGE 16 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Useful Resources INCLUDES: Supporting whitepapers, Webinars, PSO Insight blog and FREE trial of KeyedIn Projects Visit: www.keyedinpso.com
  • 17. PAGE 17 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Take a Free 15 Day Trial Today • Easy to adopt, easy to use • Intuitive • Minimise IT cost and deployment effort • Delivery is backed by impressive Service Level Agreements • Interfaces with ERP, CRM or financial/accounting software
  • 18. PAGE 18 • PSO MASTER CLASS SERIES COMPANY CONFIDENTIAL © 2013 KEYEDIN™ SOLUTIONS Questions and Answers Thank You Email: ondemand@keyedin.com Web: www.keyedin.com/keyedinprojects Twitter: @keyedinprojects