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Standardized Best Practices and Enterprise Level Applications Improve Project Profitability
Research Reveals Proven Practices Top Performers Use to Improve Project Profitability by 37%
| Source: Aberdeen Group
BOSTON, MA--(Marketwire - February 10, 2010) - A difficult economy and global competition leave
project-based businesses with little room for error today in managing
projects for profitability, according to Delivering Project Profitability: On Time and
Under Budget, a landmark study by the Aberdeen Group, a Harte-Hanks Company
(NYSE : HHS ). The key to project profitability is delivering projects and
milestones on time and under budget. While that sounds simple enough, with
so many inter-connected moving parts, this is very difficult to do without
the necessary tools to schedule resources, manage and report against
project delivery and control costs.
The research study revealed that top performing companies are 57% more
likely to have defined and implemented standard best practices and 73% of
these leaders deploy some combination of project scheduling, project
management and reporting and project costing solutions. As a result they
delivered 91% of projects early or on time and completed 96% of projects
within budgets. Project profitability improved by 37% year over year. "Top
performers achieve greater visibility to both costs and schedules and
therefore have better control of operational processes. These capabilities
contribute to their ability to accurately quote, source, and deliver their
work, generating greater consistency and predictability in delivering
projects on time and under budget," explains Cindy Jutras, vice president
and research fellow, Aberdeen Group. "Not only does this avoid project
delays, but it also ensures that projects stay aligned with customer
requirements and potentially drive repeat business," adds Nuris Ismail,
research associate, Aberdeen Group.
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