Two experts in their field offer their perspective on the fundamentals of a clear, simple, pragmatic approach to developing the business and financial guidelines incorporated in a step-by-step disciplined project plan, ultimately designed to increase the probability of success for your next software project.
.(JavaScript must be enabled to view this email address), principal of Bizvortex Consulting Group, a boutique management consulting company based in Toronto, Canada, has firsthand experience with managing large projects and believes that the elements that lead to many poor outcomes could be avoided well before they are initiated. Bogorad has been quoted in BusinessWeek and Harvard Business Publishing and serves on the ICT Advisory Committee at the Toronto Board of Trade.
.(JavaScript must be enabled to view this email address) is a lead consultant for Compass America, Inc., a global management consulting firm specializing in business and IT performance improvement for Fortune 1000 organizations. Garman has extensive experience in helping IT organizations to successfully improve their performance and has over 22 years of experience in software delivery ERP implementations, large-scale project/program management, and IT management.
Read on as our experts offer seven key steps to consider when approaching your new software development initiative from a business and financial perspective. Following these seven steps results in more effectively managed software projects by aligning business and financial values with the development process, which may lead to greater customer satisfaction and profitability.
Step #1: Determine the Business Value to Ensure the Project’s Ultimate Success
It is important to deliver concrete business value with the software project. This expected value must be established at the outset and tied to concrete metrics. Once the plan to achieve these specific results is determined, it should be incorporated as part of the fundamental guidelines against which project decisions are made throughout the execution of each step of the process. At this point, Bogorad suggests, organizations must ask themselves: Are we still delivering all of these benefits by taking this path?
Today, the best alternative should be considered in light of such variables as the economic environment, market conditions, and the capacity of the organization to observe and to manage through change. It is important that new software fits in and is compatible with the rest of the project portfolio.
Step #2: Gain Executive Support and Reliable Project Governance
Once the project is initiated, it is essential to gain the support of the executive team, which can help in ensuring that the priority of the undertaking is well-understood and appreciated across the organization. “Software development involves a substantial amount of interaction with business subject-matter experts whose time may be in high demand,” Bogorad asserts. “Without such high-level endorsement, the project team may find it challenging to obtain a warranted amount of attention from them.”
During the life of the project, there often will be times when strategic decisions in respect to the future direction of the project will need to be made. This is where proper project governance is essential so that either the project sponsor or the steering committee can make and approve such decisions. As Bogorad notes, “Failure to do so results in derailed projects and cost overruns.”
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