Model Project Scenarios Quickly and Accurately to Reduce Risk and Improve Outcomes
When business-critical initiatives fall behind schedule or some new, unplanned requirement or event impacts the IT organization, how can you quickly and easily determine how to get it back on track?
Portfolio Modeler from EPM Live provides a clear, accurate way to evaluate your options and choose the path with the least risk and best chance of a positive outcome.
Know What to Do – Fast – When Your Project Falls Behind
One of the biggest problems facing corporate executives, IT senior management, and the PMO is what to do when the schedule for a major project (or several projects!) gets delayed or goes off the rails. When this happens, you have multiple options:
- Add new resources to the affected project(s) to bring it back on schedule
- Reduce the amount of staff time spent on non-critical support activity or and shift the man-hours to project work
- Cancel some lower priority project(s)
- Delay the start or completion of other less critical projects
For many situations, the best solution might be some combination of the above – but each comes with tradeoffs, including increased costs and impact to customers or other departments in the organization.
EPM Live addresses these challenges with its Portfolio Modeler feature. The Portfolio Modeler allows key users to quickly evaluate each of the alternative approaches singly or in combination and create and save multiple scenarios for further evaluation and discussion.
Analyze and Assess Your Alternatives for Getting Back on Track
Portfolio Modeler gives project teams a comprehensive user interface in which to analyze and assess their options.
The top section shows the projects and support efforts being analyzed. This usually will include all work currently underway. The timescale on the right shows the current approved schedule for the various efforts.
The bottom section of the Modeler shows the time-scaled (this case monthly) man-hours and costs for each category. Labor in this example is broken down by in-house and contract hours, and equipment and software costs are also displayed.
The schedule displayed in the top section of the Modeler is based on the currently approved start and completion dates for each project. (Support efforts will normally cover the complete year.) You can drag the schedule bars in the top section and see the man-hours and cost effect immediately in the bottom section. You can also click the checkbox on the left to show the effect of cancelling a project, and “stretch” the end of a schedule bar to show the effect of reducing overall effort.
Pinpoint Where Projects Are Struggling, Then Predict the Effects of Proposed Approaches
The Portfolio Modeler’s “target” capability makes the tool particularly powerful for senior management. A “target” can be set which allows the management team to see exactly where the problems are relative to a time-phased resource or cost plan. This capability allows you to see the location of resource problems and the effects of deleting a project, delaying it, or lowering overall support effort.
With Portfolio Modeler from EPM Live, every member of a project team can consistently and accurately evaluate the potential outcomes of different approaches. As a result, you will reduce risk, improve project results, and keep your most important initiatives on time and on budget.