Project Portfolio Management (PPM) systems provide organizations with a concrete foundation for their project management needs. Selecting right solution may be challenging and develop the right PPM implementation strategy due to the complexities involved.
Define the project scope
For an Oracle PPM Cloud implementation to be successful, it must support the organization’s critical functions and consider the data and business process management elements. However, the scope of an Oracle PPM Cloud implementation is often limited to core PPM modules, without focusing much on master data management, business process management, and deeper insights from analytics. As a result, the net impact of Oracle PPM Cloud in these organizations doesn’t live up to the expectations; users are frustrated by the limitations, and the management is forced to expend more time and money to achieve results. Therefore, it is vital to understand the scope of your implementation and include master data management, business process management, and analytics elements wherever applicable.
Engage all key stakeholders
Refine the RFP process
A Request for Proposal (RFP) supports the organization’s selection of a suitable implementation partner for Oracle PPM Cloud and can stretch out over many months or even years. A competent partner can cost both time and money, and the positive returns from the implementation can also take time to manifest. Therefore, an effective Oracle PPM Cloud implementation needs the partner selection process to be quick and effective. Partners with the right skills and expertise provide the best advice and accelerate the implementation.
Allocate sufficient budgets
Organizations embark on an Oracle PPM Cloud implementation project to transform their processes and reduce costs and expect the project to deliver a timely ROI. One flawed approach to cost reduction is to cut the implementation budget, often impacting the project’s success. Budget cuts usually affect change management, training, and project management because they often view these areas as an unnecessary overhead instead of recognizing that they are critical components of a successful implementation. A lack of understanding can lead to project failure in specific scenarios where the budgets are allocated incorrectly, costs significantly exceed the estimate, and the project fails to deliver its expected ROI. Therefore, you shouldn’t try to cut costs in crucial areas like change management, training, and project management. Change management and training are essential for an Oracle PPM Cloud project to succeed, and you should institute effective change management and training programs from the beginning.
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