Gartner analyst Jose Ruggero told the Gartner Symposium and ITXpo in Sydney yesterday that, in this present harsh economic climate, companies need a clear, objective strategy to investing in new projects.
In a poll of the several hundred strong audience, only a few people indicated their company had an effective plan in place for managing the company project portfolio and Ruggero claimed the same result had been found in the United States when a similar poll was conducted.
"Not many companies are doing this," said Ruggero. "This is not a mature process, but it is something that is coming to the fore."
Ruggero claimed it was important for companies to focus on this area. "Resources are scarce: we need to get the best return on our investment," he said, adding that if you didn't have a specific project management office you should train people in the skills required to identify the best projects for the company.
According to Gartner research, there are six critical success factors for effective project prioritisation.
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-Strong governance and holding participants accountable is required.
-It needs to be treated as a project with a process owner and qualified support team.
-The proposals need to go through the same screening and be reviewed when conditions change.
-The objective prioritisation framework should include investment categories and risk-adjusted evaluation criteria.
-Communication and education programs are needed to develop stakeholder buy-in and support.
-Appropriate tools are needed to ensure consistency and support group decision-making.
Cut out the deadwood.
75% of middle management is not required in any organisation.
Thats a good hefty sum to throw into IT.