Businesses of various shapes and sizes across the globe continue to invest in and expand the footprint of their ERP applications. Much of this increased spend includes mission critical projects such as
2) Deploying new applications and
3) Migrating new businesses, acquired companies, countries and/or re-engineered processes into an existing “corporate” ERP.
So how do these companies begin the process? What are the key considerations in play to complete these daunting tasks within an Oracle ERP environment?
Oracle E-Business Suite Applications Releases 11i and R12, and Oracle Fusion Applications – the significant majority of existing Oracle ERP customers use these 3 applications suites.
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By Robert D. Anderson, CPA
An article by Adam Bookman provides an interesting perspective on why about 68% of IT projects fail to deliver the original desired benefits. He quotes from a study done by the Standish Group that identifies three primary reasons:
1. The initiative was outsourced to IT and not owned by the business
2. The right tool drives success
3. Best Practices represent the best starting place
Looking back over 20 years in the Accounting and Finance role at major US firms and another 14 years consulting with large international companies, these findings agree with my observations. The most successful initiatives have always been the ones where people in the direct operational area take full ownership and IT plays a supporting rule. The worst initiatives have been the ones solely driven by IT with no business buy in. Read the rest of this entry »
By Tamim Kulaly, PMP
The first important question is “why do projects fail?” There could be several reasons:
- Project over run – The project takes longer than planned
- Cost over run – Executing the project cost more than budgeted
- Underperformance – The project team did not deliver the goals of the project
- Plan too optimistic – Evidencing a lack of understanding of true scope of the project
- Scope creep – The scope of the project increased but plans and budgets were not revised accordingly
- Other – Sometimes things go wrong due to lack of appropriate resources or equipment failure or bad weather or other unpleasant surprises.
To avoid the downfalls of project failures, project centric organizations should look into Risk Analysis products to minimize project risks. Oracle’s Primavera Risk Analysis is a full lifecycle risk analytics solution integrating cost and schedule risk management. Users will have an objective view of required contingency to account for cost and schedule uncertainty as well as analyzing the cost effectiveness of risk response plans. Read the rest of this entry »