CFOs: Don’t Let Project Execution Worries Keep You Up At Night!

 Wall Street Journal’s

According to an article in the Wall Street Journal’s CFO Journal, “The pressures on CFOs are enormous — and mounting. Some, such as ongoing external volatility, are obvious, while others, such as time creep, threaten the overall performance of finance itself.”

If you’re like other CFOs, one of your top ten concerns is avoiding execution missteps that lead to cost overruns or higher expenses. Sixty percent of your peers worry about whether their current strategies can flexibly withstand change, and 85% admit concern about being able to implement and execute any new strategies.

A solution to managing project-related time and costs

Many CFOs have implemented ERP and CRM applications to help manage their day-to-day business operations, but a continuing problem is how to ensure that their enterprise’s complete portfolio of projects is managed appropriately and completed on time and on budget. Therefore, more CFOs are seeking out innovative cloud-based Project and Program Management solutions that provide improved insights into critical projects, ensure resources are allocated correctly, and align project metrics with key performance metrics.

Key evaluation considerations

According to Deloitte, the right solution can help CFOs deliver greater value and savings through improved budgeting, project planning, and execution processes. If you’re interested in evaluating a project and program management application, look for one that can effectively address these key questions for your organization:

  • Are the right projects being focused on right now?
  • Are we allocating scarce resources in the most effective way?
  • Can we effectively staff current and proposed projects in the portfolio?
  • Do we have good visibility to understand resource capacity issues and conflicts before they negatively impact project execution?
  • Are we getting the results we want?
  • Are project metrics effectively tracking time, as well as key operational milestones and outcomes?

Once you’ve finally put these top project and program execution worries to bed, you’ll be assured of a better night’s sleep!

Avatar
ABOUT THE AUTHOR
Replicon
Replicon provides award-winning products that make it easy to manage your workforce. With complete solution sets for client billing, project costing, and time and attendance management, Replicon enables the capture, administration, and optimization of your most underutilized and important asset: time.
Get started today.
Set up a free trial based on your business needs. Start Free Trial

The professional services seesaw: Balancing project requirements and resources

By Lakshmi Raj, Co-founder and Co-CEO at Replicon accountingTODAY | November 18, 2019 At one time, the endless ups and downs of a seesaw may have been great fun, but…Read More

Global Compliance Desk – Oregon

Amendment to Oregon Pregnancy & Childbirth Accommodations Laws The Oregon Legislature recently passed House Bill 2341 (2019) which provides additional employee protections related to pregnancy, childbirth or a related medical…Read More

One Image, Two Very Different Interpretations: What Does it Mean in Business?

Gender equality may be an idealistic goal, but the point of humanity is to get more out of our lives By Lakshmi Raj, Co-founder and Co-CEO at Replicon Entrepreneur |…Read More

Using shared services? These five technologies are a must

As organizations continue to scrutinize operating costs and look for areas to drive efficiencies, shared services centers (SSCs) are a no-brainer. The concept of a multi-function SSC has been around…Read More

Miscalculating wages by a few cents led to this company paying a six-figure lawsuit

West Marine Products, which operates a chain of retail stores across the United States specializing in boating supply and fishing equipment, recently settled a class action lawsuit involving 707 former…Read More

Employee time tracking is dead

iBeacons, Bluetooth Low Energy, Proximity sensing and the obsolescence of time tracking as we know it. Businesses have to track the time their employees work for a variety of reasons,…Read More
  • Cloud
  • In The News
  • Corporate
  • Professional Services Management
  • Project and Program Management
  • Shared Services Management
  • Time and Attendance Management
  • Workforce Management
  • Customer Feature
  • Feature Update
  • Time Intelligence
  • Industry News
  • Webinar Recap
  • Global Compliance Updates
  • 
    Chat with us
    How can we help you?