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The goal of this flavour is to provide consistent and visible decision-making capabilities for the management of all enterprise-level investments throughout the investment life cycle. EPM Partners has implemented seamless EPM integration into various government departments enabling consistent approaches to support:
- Project management practices
- Risk and issue methodologies
- Portfolio selection and optimisation
- Project Management Office (PMO) processes and governance
- Resource management and utilisation
- Investment analysis and reporting
- Release management and application development cycles
- Information management policies
- Business to IT communication channels;
- End user experiences.
Government departments can integrate and streamline data acquisition and management processes while enhancing management and reporting of investment performance and risk. Government departments can interact in a web-based environment supported by a central data repository to access consistent, reliable, accurate, and auditable investment information that is grouped into investment portfolios. The central data repository enables the demotion of duplicate, inaccurate and unsupported databases that are often present in the Government environment.
- One of the main challenge to government departments is capturing all work requests and applying a specific governance model, depending on the type of work. The EPM for Government flavour enables accountability and good stewardship of taxpayer dollars through seamless integration processes and activities. By applying each work request with its own workflow and requirements, Government PMO's and decision makers can categorise the portfolio in order to accurately collect the required information needed to make those key decisions. As each section in a Government department may have different processes and methodologies, EPM for Government supports these differences as well as developing a standard approach to identify investments that satisfy section or department strategic goals, and eliminate duplication. Additionally, management can apply performance metrics that monitor expected return on investment and project alignment.
- A key advantage of EPM for Government is providing government executives with the ability to select the right project at the right time. Once work requests are categorised into their respective workflows and relevant information is collected, the work request enters the Select Phase for consideration. In this phase, the government department makes decisions regarding which investments to fund based on strategic priorities. New investments are compared and prioritised against a uniform set of screening criteria and thresholds to determine whether they meet minimum funding and resource requirements. The Select Phase helps ensure that the government department selects those investments that will best support the mission needs and helps to identify and analyse project risks and benefits before significant funding is committed. The entire process aptly supports any audit requirements when reviewing key decisions and governance.
- Once the Selection Phase is complete, projects in the portfolio enter the Control Phase where they are actively managed and controlled. The Control Phase helps ensure that as a project is developed, it continues to meet cost, schedule, and performance expectations. The Control Phase helps government executives and PMO's to monitor the portfolio, make decisions and take actions to change the course of a particular project to improve the position of the entire portfolio. Project Managers, team members and stakeholders can all contribute to the project success via the online interface and project sites personalised specifically for them.
Once projects have been fully implemented and are in the portfolio review cycle, results can be reviewed and compared to initial estimates. Once the review is completed, PMO's can apply improvements to EPM as portfolio process improvements. The Evaluation Phase compares actual performance to estimates at the portfolio level in order to assess performance and identify areas where future decision making can be improved. Government project managers and PMO's can identify ways to modify or improve the overall investment management process to maximise efficiency and transparency. |