Reining in Project Risk: Predictive Project Analytics
Research shows that 63 percent of companies have experienced a recent project failure.* Why? Because the more complex the project, the greater the likelihood of failure. That’s why many companies are taking advantage of predictive project analytics (PPA) to mitigate delivery risks and improve overall project performance.
PPA is a project risk assessment methodology that provides foresight on potential risks and where immediate fixes for in-flight projects and programs should be implemented to mitigate risk. In addition to guiding the organization through the project lifecycle, the PPA methodology:
- Provides an objective and independent assessment of program or project issues and risks
- Employs industry-accepted frameworks and standards
- Protects investment by identifying gaps in governance models and delivery risks and by validating that the project is aligned with business requirements
- Increases the probability of meeting quality goals and business objectives
- Identifies program and project risks and control gaps early
- Provides ongoing cost control and management for projects that are at risk of overrun
Organizations can leverage PPA to reduce regulatory and compliance challenges, improve cost management, identify project risks and lifecycle control gaps early in the process, streamline the project lifecycle, meet quality goals, make more confident decisions, and achieve business objectives.
*“Chaos Report,” Standish Group International, 2010.
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