Optimising the five fundamentals of Project Centric management is key to greater business efficiency and to benefiting from new opportunities during the global downturn and beyond.

Based on 25 years of experience in developing software that supports Project Centric businesses, IFS, the global enterprise applications company, is advising businesses to bring down the barriers inherent in traditional organisational structures to adopt a Project Centric approach.

It has identified time, risk, cost, cash and resources as the five key performance measures a business must track in order to improve efficiency and remain agile in a globalized marketplace.

Traditional organisational structures and systems make understanding real-time operational situations very difficult, delaying corrections to resourcing and supply, costing the business money and making it almost impossible to decide whether an opportunity will ultimately be profitable.

Software applications that record, monitor and optimise these five fundamentals and encourage collaboration are proven to help a business become more agile and better able to respond to global and local challenges.

Structuring a business around a network of integrated projects - rather than outmoded fixed departmental or geographic silos - is fundamental for success. The approach enables companies to move from being departmentally constrained to truly embrace end-to-end processes.

This provides managers with greater and faster visibility of progress, enables risks to be managed more closely and allows adjustments to be applied instantly.

“Both employees and organisations are demanding real alternative ways of working that match the changing needs of the 21st century economy and the shorter term imperatives of the downturn,”said managing director, IFS, Middle East, Africa & South Asia, Ian Fleming.

IFS has been working closely with its customers in diverse sectors including manufacturing, construction, utilities and oil and gas, including Hertel, Heerema Fabrication Group and Babcock Marine to better support business processes based on Project Centric fundamentals. – TradeArabia News Service