We now have overwhelming evidence across industries and from around the world that engineering, construction, maintenance & repair and other complex projects are consistently late and overbudget, and there seems to be no sign of any improvement over time.
It is quite obvious that project management systems are missing something at the core. On top, they require significant effort just to update and maintain the plans. And even with all this effort, execution schedules have to be created manually and these systems furnish only backward looking reports rather than forward looking alerts. No wonder the PMO has become an ever increasing overhead in most organizations.
A Planning Engine is not enough to deliver projects. Projects are inherently dynamic; assumptions change, new requirements emerge over time and execution is affected by innumerable external factors. Therefore you also need an Execution Engine to keep teams working on the right tasks at the right time and to help managers proactively intervene in the right places.
Successful project delivery requires responding to delays, changes and disruptions, and this can only be achieved with a PROJECT DELIVERY SYSTEM that has an EXECUTION ENGINE.
Drawing from our experience with complex projects across a wide range of industries, we at Realization have developed an execution engine that turns your static project plans into a live GPS for projects.
When driving, the GPS continually provides you an accurate estimate of time of arrival. Similarly, the execution engine provides you an accurate projection of the delivery dates. The GPS in your car also warns you about upcoming bottlenecks and how to avoid them. Similarly, the execution engine tells managers where to expend their problem-solving capacity. Finally, the GPS in your car also gives you updated directions. Similarly, the execution engine tells project teams what tasks to do next, while keeping them mutually synchronized.
We now have empirical data from more than 10,000 projects that the execution engine can help you reduce project durations by 20% for large, standalone projects and by 50% for multiple projects with shared resources.
Enabling ‘GPS for Projects’ are the two key differentiating elements – Tier-2 Planning & Real-time Scheduling. Using this powerful planning technique and Real-time scheduling capability the Project GPS provides:
Globally optimal execution instructions: Execution schedules are always globally optimal – sub-ordinated to Strategic level priorities and impervious to local fluctuations and improvisations at the working level
Automated synchronization: All stake-holders viz. Engineering, Procurement, Site Execution, have their own prioritized task lists that are dynamic and always synchronized to project level requirements
Minimal maintenance efforts: Data is pulled from existing systems, structured DPR-s through web-based desktop or mobile apps
Execution Engine: The system re-calculates priorities based on updates and dynamically re-schedules according to global requirements
Early Warning signals: Forward-looking, rather than backward-looking, alerts are raised by the system, upcoming bottlenecks are highlighted to senior management
Automated Reports: Management dashboard provides complete and transparent visibility of project status and future projections