MT. LAUREL, NJ / June 17, 2008 / The Center for Business Practices (cbp) (www.cbponline.com) and PRICE Systems, co-sponsored an extensive research study on IT project portfolio cost management. IT Executives from a broad spectrum of industries such as Financial Services, Manufacturing, as well as Government where selected. The study concluded that the ability to manage costs of an IT project portfolio is a critical function. Yet it was determined that, without this ability, organizations are at risk of experiencing cost overruns, missed deadlines, and performance shortfalls. Cost increases often mean that the organization cannot fund as many programs as intended or deliver them when promised.
Organizations show improved performance as they mature in cost management.
Tying requirements to business goals and results is a best practice.
Using formal methods and tools in evaluating project size and technical complexity are best practices.
Monitoring project progress against business goals is a best practice.
The IT project portfolio cost management study provides 117 pages of essential data on the key findings. It offers findings on cost management maturity, cost estimating practices, cost estimating challenges, project portfolio decision making, cost management and business performance, and the respondents.
Additionally, it provides information on the survey questions, references, and on cross tabulations on industry, size of organization, level of cost management maturity and on high-performers verses low-performers. The market report will be available in English, and exclusively from PRICE Systems.
About the Center for Business Practices®
The Center for Business Practices is the research and publishing arm of the management consulting and training organization PM Solutions. The CBP promotes effective strategy execution through sound portfolio, program, project, and performance management by capturing best practice knowledge and integrating it into actionable, fact-based information available through research reports, books, and benchmarking events. For more information, visit www.cbponline.com.