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PROJECT MANAGEMENT AND IMPROVING BUSINESS PERFORMANCE • MARCH 2020

Projecting into the future

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How the workplace drives business performance “Performance in the context of workspace is a measure of how well people perform their given tasks and enable an organisation to reach its goals” – Ben Lonsdale, Oktra

F AN organisation’s workplace strategy hasn’t been designed to support its operating model and deliver the key objectives that drive growth, that business is broken. Here’s why: business success depends on employee productivity, and employee productivity depends on a supportive working environment. The most successful companies have workspace designed to support their employees, providing the environment and the tools they need to be great at what they do. The UK’s leading office design company, Oktra, conducted a workplace report in partnership with YouGov and found that, of the more than 2,000 British employees surveyed, nearly a quarter (22 per cent) said they didn’t have the space they needed to be productive at work. “It is productivity growth, the ability to get more output from the same amount of labour and capital, that has made us richer over time and that drives both corporate profits and workers’ wages,” explains economist Duncan Weldon in The Stoddart Review. The already looming 22 per cent gap in productivity has some pretty

heavy consequences in terms of diminished business success. Workplace success can be broken down into two categories: designing for performance and measuring impact. “Performance in the context of workspace is a measure of how well people perform their given tasks and enable an

organisation to reach its goals,” says Oktra’s strategic operations director Ben Lonsdale. Designing for performance results in an environment that’s sympathetic to the tasks occupants perform, even when working remotely. Integrated technology enables seamless connectivity – an important asset in today’s economic climate, and one that will continue to enhance communication and creativity once normal working practices resume. Effective workspace is human-centric, prioritising human health and wellbeing as basic requirements for productivity. Optimal levels of airflow, humidity, temperature, noise and low levels of dust, CO2 and VOC are all environmental factors that contribute directly to employee productivity. In his study, Creating the Productive Workplace, University of Reading professor Derek Clements-Croome found a clear relationship between indoor air pollution and human productivity, with a 10 per cent drop in productivity attributed to health issues related to poor indoor air quality. The impact workspace has on the people who use it is what drives or derails

productivity, but how is it measured? Using a mix of environmental and occupancy sensors, it’s possible to gather non-sensitive data on space use and environmental quality. Selecting appropriate KPIs is an important part of measuring impact, but data is imperative in terms of quantifying the way workspace functions and the resulting impact on employee productivity and business success. Businesses can use these insights to identify opportunities for realignment between their workplace and business strategies. “Having clarity on the problems the space needs to solve for its users and which metrics drive success for the organisation may provide not only real, measurable results, but also a distinct competitive advantage,” concludes Lonsdale. In other words, it’s possible to identify gaps in performance and adjust the workplace to close those gaps and deliver success. INDUSTRY VIEW

To speak with an expert about your workplace strategy, visit www.oktra.co.uk/contact

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Recruiters still sceptical of AI benefits, report reveals

Chancellor Rishi Sunak (left) has announced government measures to aid businesses and some employees during the Covid-19 crisis

I IS fast becoming a staple requirement for many new positions, but recruitment firms remain somewhat hesitant, a new report reveals. According to research from the Association of Professional Staffing Companies (APSCo), 61 per cent of staffing firms are either using AI or automation in recruitment processes, or plan to do so in the next 12 months. But despite the overall enthusiasm, the report also revealed concerns among recruiters about the downsides of AI and automation, with 59 per cent of respondents citing “a less personal experience for candidates” as an example. Meanwhile, 56 per cent said the level of investment

Government estimates one in five employees will be absent because of Covid-19 • Government shuts down “non-essential” businesses • £350 billion in loans offered to struggling firms

S MANY as one in five employees could be absent from work during the Covid-19 pandemic, according to government estimates, as the Treasury continues to assess how the rolling crisis will affect businesses. The government has ordered non-essential businesses to close and people to work from home if they can.

Report predicts 96 per cent of companies will fail within next 10 years

The 28-page report, published by the Department of Health and Social Care on 3 March, predicted that “it is possible that up to one fifth of employees may be absent from work during peak weeks.” The document also outlines government plans to “provide practical and concrete support for firms”. Chancellor Rishi Sunak announced that £350bn of emergency loans and aid would be made available to businesses, as well as grants for pubs and retailers and a year-long postponement for business rates, as well as promising to pay up to 80 per cent of the salaries of

EARLY ALL companies that exist today – 96 per cent – will have failed within ten years, according to a new report. The white paper, Beyond Technology: How Can Organisations Drive Sustainable Value From Their Data Investments, commissioned by Coesus Consulting, also found that only 1 per cent of the data collected by organisations was actually analysed. The report’s findings, which focus on the potential of AI,

employees retained by affected companies. However, the government has been criticised for not outlining any plans for a safety net for the selfemployed or those on zero-hours contracts, many of whom are continuing to travel to work. The CBI has nevertheless welcomed the move, calling it a “landmark package”. “It marks the start of the UK’s economic fightback – an unparalleled joint effort by enterprise and government to help our country emerge from this crisis with the minimum possible damage,” said the CBI’s director general Carolyn Fairbairn.

machine learning, natural language processing (NLP) and automation in business, makes for concerning reading. It found that many organisations could be failing to monetise, or realise the potential value of, their data, despite 74 per cent of them acknowledging it as a key priority. The survey also found a disconnect between the overall importance of digital transformation to businesses, and a general attitude that responsibility for it should rest solely

The outbreak’s full impact on projects has yet to be fully assessed, as the realisation dawns that larger organisations will not be immune to the crisis. The Project Management Institute announced that it had postponed a number of its events, or moved them to a virtual platform, and is offering to reschedule any exams to affected candidates. Debbie Dore, CEO of the Association for Project Management, said that finding a path through the current crisis represented “a major project” in itself. “The project profession is well equipped to help in many ways,” she wrote.

with IT departments. Of the large organisations surveyed, 80 per cent believed data strategies and accountability were the purview of CIOs and CTOs, with only a quarter of organisations having appointed a chief data officer. “Many investments in data and analytics have been started from a technology perspective with little alignment to business value or desired outcomes that can be measured against a business strategy,” said Richard Graham, associate director

involved was a turn-off, while 43 per cent believed the level of integration with existing systems could cause problems. One in four (24 per cent) said they had noticed an increase in AI and automation-related job titles over the past 12 months. “At a time when experts predict that 47 per cent of all jobs will be automated by 2034, it is no surprise that rapid technological advancements are not only impacting the way that recruiters work today – but also the nature of the roles we are recruiting for,” said APSCo operations director Samantha Hurley. “However, our results suggest that, while the potential associated with AI and automation is no doubt exciting for recruitment leaders, we are still a long way from universal adoption.”

at Coeus. “Businesses need a change of mindset and approach right across the organisation, and the challenge is more than simply

collecting data and making it available.” The survey did find, though, that 66 per cent were actively trialling AI, ML, NLP and automation. “Being data-driven is an imperative for most organisations and there is a growing trend to incubate and deploy advanced analytics, but organisations need to ensure they have certain fundamental capabilities in place before trying to achieve digital transformation,” Graham concluded.

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What professionalism means for project managers in a new decade

S THE world transforms at unprecedented speed, business leaders are looking for the skills necessary to deliver change effectively. Professionalism, which was once seen as a “nice-to-have”, is now an essential part of the project practitioner’s strategic toolkit. But as global change accelerates, the concept of professionalism – what it means to be a project professional – must evolve. This goes beyond embracing new technology and processes. It means that people must evolve their sense of self to ensure they have the right mindset to tackle the increasingly complex challenges faced by society. Project professionals who can rise to these challenges are essential for a sustainable future. This decade is only months old, and already we have seen dramatic evidence of the effects of climate change in Australia, proposals by the American government to speed up delivery of new infrastructure, and the UK embark on the next phase of a project to redefine its role in the world. It is clear that governments, companies and communities will increasingly look to the project profession to help deliver solutions on matters such as these, and many others. Our Golden Thread research, published last year, found that the project profession employs 2.13 million full-time equivalent workers (FTEs) and generates £156.5 billion of annual gross value added (GVA) – more than the UK’s construction sector or financial services sector. The research also found that 40 per cent of project professionals predict growth in

Debbie Dore, chief executive, Association for Project Management

project activity by 2022. These findings clearly demonstrate that this project activity – “a project economy” to coin a phrase – is increasingly an essential prerequisite to successful delivery of change. Growth on this scale can only be achieved by continuously developing professionalism among project professionals at all levels, from the classroom to the C-suite. This means redefining professionalism in a volatile, uncertain, complex and ambiguous world, by:

• Supporting the next generation. Growing the talent pipeline and ensuring future projects are adequately resourced requires a commitment to engaging with new starters, but also with apprentices and students. There has never been a more exciting time to get into project management. Professionals must work to establish it as a career of first choice. • Developing a broader range of skills. The skills people need to excel are continuously evolving. The most successful project managers will be those who not only show commitment to ongoing learning and development, but also those who embrace mindfulness, wellbeing and key soft skills such as people management.

• Learning continuously. Advancing the art, science, theory and practice of project management and the profession can only be achieved with access to innovative knowledge and research programmes. Project managers who proactively seek out new information and insights will be well placed to achieve the highest standards of professionalism.

• Joining communities. Connecting, collaborating and sharing with others is the hallmark of professionalism. Whether

The contribution of project management to the UK economy Gross value added (GVA) estimates in project management and other professions and industries

“In a complex and shifting world, the project profession must be enabled and empowered to deliver better.”

£186bn

Professional and business services (including legal) £156.5bn

Project management Financial services

£115.3bn

Construction

£113bn £52.9bn

Accommodation and food

£35.5bn Marketing £25.8bn Arts, entertainment and recreation

SOURCE: APM, PWC AND OFFICE FOR NATIONAL STATISTICS

• Setting new standards. Professionals must aspire to seek out and achieve the highest possible benchmarks. Becoming a Chartered Project Professional (ChPP) is increasingly seen as a way forward. Project managers are at the forefront of delivering in the face of change – or delivering change itself – to address the new global challenges that demand increased levels of professionalism. As the chartered body for the project profession, APM is responsible for shaping and supporting this by inspiring the people behind the projects to be the best they can be. We provide a community to our individual and organisational members, wherever they are. We set standards, deliver qualifications, conduct research, provide resources, run events, share best practice and help project managers to connect, learn and collaborate. In a complex and shifting world, the project profession must be enabled and empowered to deliver better. This is not only good for professionals, but for society as a whole. Because when projects succeed, everyone benefits. INDUSTRY VIEW

£4.8bn UK research and evidence market £50bn

it’s networking at events or engaging in constructive online discussion, peer communities offer endless opportunities to enhance professionals’ mindsets.

£100bn

£150bn

£200bn

Debbie Dore is chief executive of Association for Project Management @APMProjectMgmt www.apm.org.uk

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Digital transformation: projects or programmes? Jeremy Swinfen-Green looks at how you can navigate the pitfalls of digital transformation, and ensure your organisation comes out on top

E LIVE in turbulent times. Industry after industry is disrupted by technology. Old, long-established names fade into insignificance while brash new arrivals, powered by bits and bytes, take over. The opportunities seem huge, the inability to grasp them a certain recipe for corporate failure. But there are risks attached to digital technology around privacy, security, reputation and employee motivation that represent a real threat to organisational survival. How can you grasp the opportunities that smaller, agile competitors seem comfortable with while avoiding existential risk? The answer many organisations reach for is digital transformation. Digital transformation involves the radical change of organisations though the use of digital technology. The key word here is “radical”. Creating a mobile app or developing a better customer relationship management (CRM) system may involve digital technology but these initiatives are not radical in themselves. True transformation, which can focus on internal or external processes (or both), should deliver a step-change in terms of an organisation’s cost base (more efficient processes) or its revenues (new or more competitive products and services).

The problem with digital transformation Digital transformation (DX) often involves developing an ambitious vision of what an organisation’s digital future might look like – a vision requiring a massive and rapid programme of change. But these large DX programmes can be unwieldy and hard to manage successfully. They are often based on a top-down, theoretical view of what is right for the organisation, rather than the practical experiences of employees and customers. The change may be driven by a desire to use technology rather

than by what customers want or employees can manage. And the sheer size of the programme may make specifying the required functionality impossible. Some of the UK government’s IT initiatives illustrate the dangers. For instance, the NHS’s National Programme for IT would have enabled efficient access to patient information by medical staff. But the NHS is huge, with thousands of separate organisations belonging to it that are very different – small and large, private and government owned – focused on long-term care and emergencies. Perhaps inevitably, most of the project was abandoned after 10 years of struggle, at a cost to the UK taxpayer of £10 billion. In fact, most digital transformation programmes fail, as they have in large global corporations including GE, Proctor & Gamble, the BBC and Ford.

Achieving success with DX Digital transformation doesn’t have to fail, however. Instead of running major monolithic change programmes, organisations can achieve a higher chance of success with a series of smaller projects, mapped together to deliver certain outcomes. Small projects have many advantages:

Managing digital at the project level Skilful project management is needed for digital technology projects as they can be difficult to manage successfully: • Outcomes and risks may be hard to predict if the technology is new to an organisation, especially when systems are linked by technology in ways that are not immediately obvious • Technology changes rapidly: there is a danger of constantly following new and better opportunities and never getting anything finished

• While individually less ambitious than monolithic programmes, they are generally lower risk and more likely to succeed because they are easier to specify, design, build and manage

• If the technology is new there may be a shortage of people able to use it. This can mean reliance on expensive third parties who may increase the risk of the project failing

• If one project is failing, it won’t hold up all the other digital projects in the organisation and will only have a small impact on overall outcomes

• Jargon can be problematic. People who use the same words may mean different things: expectations may differ; definitions of “what good looks like” may var y; risk s may be misunderstood

• Encouraging a series of small projects is likely to stimulate innovation while large transformation programmes will often quash innovative ideas because they are “off-strategy”

• Cultural barriers may prove troublesome, with employees cynical about new ways of working or fearful of impacts

“Instead of running major monolithic change programmes, organisations can achieve a higher chance of success with a series of smaller projects”

of job satisfaction or even job security The successful project manager will therefore have a good understanding of the risks that digital projects face. In addition, they will communicate persuasively, ensuri ng t he ja rgon ba r r ier i s overcome. They also need to work closely with stakeholders to agree priorities and risk appetite in an area where outcomes and risks are uncertain. They will share bestpractice advice gained on other digital projects that will increase the chance of successful outcomes. And crucially, they will support the teams responsible for failed projects by defusing any blame and emphasising to the wider organisation the learning that has come from it.

Managing digital at the organisational level Managing individual projects is important. But if you are hoping to use a set of different projects to help transform your organisation, you need to work at the organisational level as well. This is likely to mean appointing someone responsible for coordinating digital activity across the organisation. This person is not there to decide on which project goes ahead

(at least not if you want to encourage innovation across your organisation). Instead they should: • Identify organisational risks from individual or combinations of projects, and advise on how to manage them • Help to identify project risks based on experience from other projects, especially where one project is creating problems in another area • Monitor success and act as “executioner” for projects that are manifestly failing but where stakeholders are enthusiastically keeping them alive • Communicate the benefits of digital technology, attempt to allay fears about the change digital brings, and work with HR professionals to ensure that the new skillsets required in the future are developed Achieving digital transformation is never going to be easy, especially for organisations with large legacy systems. But with patience and tolerance of failure, and by focusing on manageable projects while accepting that true transformation means more than a mobile-friendly website, success is achievable.

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Easy ways to improve your business Getting your business performance up to scratch can be easier than you think. Nick Martindale looks at changes you can make to improve the way you work

OR MANY small business owners, growth is very much the order of the day, as they seek to maximise the potential – and value – of their enterprise. But how to go about this is no easy matter, and will inevitably depend to an extent on the company in question and the sector in which it operates. Yet there are a number of factors small firms – and some larger operations – can use to help drive business growth over the coming months.

Develop talent Working to develop – and retain – your best employees and future managers or leaders

is a good place to start. Dr Ines Wichert, managing director of leadership development consultancy TalUpp, and author of Accelerated Leadership Development: How to Turn your Top Talent into Leaders, says those from the millennial and Generation Z demographics want to move quickly with their careers, and are concerned about getting stuck. “They also want to make an impact and gain early exposure to leadership,” she says. “There are many opportunities in any SME to offer emerging talent stretch assignments in addition to their day job. For example, change management projects can help them

Facing the future of work… As well as wrestling with the here and now, businesses – and particularly small business owners – need to get to grips with wider trends that will impact both the way they operate and the staff they employ. Staying on top of the latest tech and its impact on the world of work should be a priority. “AI, machine learning, robotics, augmented and virtual reality and the IoT are being used by smaller organisations to enhance delivery of their services, enrich data collection of their performance, and increase efficiency through the deployment of virtualisation layers so they can digitally tweak operations,” says Jonathan Bridges, chief innovation officer at Exponential-e. Yet it seems this is not yet a priority for many small firms, with research by Showpad suggesting AI and machine learning are only seen as key priorities in digital transformation projects by 39 per cent of SMEs. “AI is in its infancy and is certainly not a panacea for all business ills,” says Jim Preston, VP EMEA at Showpad. “Indeed, many organisations face people, technology, process and financial issues in digital transformation, with more than 40 per cent of senior staff admitting that each of these is a significant barrier to change.” With the evolution of technology comes the growing threat of cyber-attacks, and small firms are increasingly seen as a

route into larger organisations, says Glyn Roberts, managing director of Global Knowledge. “Most, if not all, businesses use at least one digital or internet-enabled service,” he says. “Business leaders have a duty to inform themselves of the risks and protective actions that can be taken and provide all employees with a better level of awareness about cyber-crime risk.” Meanwhile, Dr Joe Cainey, director of data science at Peakon, highlights the challenges of coping with five generations in the workforce. “Digital natives, who had a Facebook profile long before they had a job, are working alongside colleagues who remember when fax machines and floppy disks were revolutionary,” he points out. “It is no longer viable to take a one-size-fitsall approach to engaging employees.” The proliferation of technology and an “always-on” culture is also introducing challenges in the work/life balance. “Millennials and Generation Z are used to living with technology, but along with its increased adoption in the workplace should come a culture where workers feel comfortable not having to check emails, alerts and documents late at night,” says Bridges. “The limited resources of smaller firms sometimes necessitate longer hours, but employees should also be encouraged to take their personal time and come back to work refreshed and raring to go.”

“Training can often be the easiest and most cost-effective way to start upskilling: many tech skills such as coding can be learned online for free.” – Danny Brooks, VHR

understand people’s emotions. Other valuable leadership experiences could be people management, growth, turnaround and special projects.” Technical recruitment consultancy VHR has developed a strong emphasis on learning and development, with two in-house coaches to create bespoke training programmes for its 90 employees and providing half the costs of education as well as paid study leave. Two years ago it introduced the VHR Academy, a nine-month training programme designed to turn eight inexperienced individuals into successful recruiters. “Training can often be the easiest and most cost-effective way to start upskilling: many technical skills such as coding can be learned online for free, and mentoring by more senior employees can provide free in-house coaching for those at the earlier stages of their career,” says Danny Brooks, founder and CEO. In smaller firms, one option is to allow people to form teams and look into problems themselves, says Stephanie Davies, CEO of Laughology. “Self-directed learning is an effective way of filling skills gaps internally, engaging staff and allowing people to learn and develop,” she says. “Give them a project that they can run but that also benefits the business. For example, if a business is looking at using digital more, get a team of two or three people to research, learn and share with the wider team.”

Engage employees Making staff feel valued and appreciated is an easy way to improve productivity and

increase the potential for growth. “Research has shown that people will go the extra mile when they feel cared for, with consciously compassionate companies reporting higher levels of staff and customer engagement,” says Dr Amy Bradley, a faculty member at Hult Ashridge Executive Education and author of The Human Moment. “In SMEs, when it comes to understanding how to engage, time is the most valuable currency. It is down to line managers being available for their staff and asking, listening and acting every day.” Sometimes this can be as simple as thanking staff for a job well done, says Robert Ordever, managing director of workplace culture consultancy O.C. Tanner Europe, which recently conducted research

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which found a third (33 per cent) of UK workers currently aren’t engaged. “It’s about building recognition into the fabric of the company, encouraging acts of appreciation from manager-to-employee, peer-to-peer and employee-to-manager,” he says. “Employees must be appreciated regularly – ideally daily – and in a timely fashion. The recognition must also be authentic and, if possible, done publicly.” Creating a compelling package is also important in attracting and retaining staff, but this doesn’t necessarily have to mean top-notch salaries. Software firm RotaCloud gives all its staff £500 each year to spend on learning a new skill. “We’ve had people learn to drive, crochet, learn woodworking, brew beer, and a number of our technical staff have just returned from a Javascript conference in Amsterdam,” says co-founder James Lintern. “Schemes like this keep people engaged and motivated.” A recent job advert attracted more than 200 applicants, he adds, and many potential recruits cite the benefits on offer as a reason why they would like to work there.

Embrace technology Making the most of opportunities presented by new technology can also drive growth. “All smaller organisations need their ‘core’ fundamental processes to run smoothly for them to successfully grow,” says Jonathan Bridges, chief innovation officer at Exponential-e. “Companies can use technology to perform activities, particularly the highly

“Research has shown that people will go the extra mile when cared for, with consciously compassionate companies reporting higher levels of staff and customer engagement” – Dr Amy Bradley, author, The Human Moment

and commercial digital transformation projects, but it seems that many are struggling to apply this to their sales team and buyer experience,” he says. “However, buyer experience is now the differentiating factor in the buying process, above and beyond product specifications or even price. Quite simply, companies must transform if they want to provide the best, most insightful and personalised experience for their customers.”

Improve efficiency

repetitive ones like data entry, freeing up resources to focus on growth activities.” Effective use of data also presents opportunities, but it’s important this is done with a clear goal in mind, says Chris Underwood, managing director at Adastrum Consulting. “It is not a discrete entity but an enabler,” he warns. “By interrogating the data and using it to work out how to increase revenue, cut costs, predict customer behaviour or optimise working practices, it is possible to find patterns and test solutions before rolling out across the business.” Digital channels and projects can create new opportunities to increase revenue and customer satisfaction, says Jim Preston, VP EMEA at software firm Showpad. “Most organisations have embarked on operational

Finding ways to make processes more efficient is a tried and trusted way to cut costs and improve margins, presenting the potential to drive growth in the future. Lincolnshire online doormat business Make An Entrance recently started importing materials for its products, which co-owner Samantha Burlton says has also helped to upskill the workforce, including apprentices, in the process. “We partnered with a business in Kerala in India to make new materials for the doormats, which was an entirely new area for the business and a steep learning curve,” she says. “We travelled to India to source the best material and oversaw the creation of new looms to ensure appropriate quality.” The firm has also invested in new technology to help complement more traditional ways of making mats. “Investments in technology are costly but the return on investment is worthwhile,” she adds.

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Project management: the Technology, workforces and their expectations are changing at a rapid pace, and the way we run projects and work in general is becoming more fluid. Business Reporter looks at five things that are impacting project management

F YOU were to wind the clock back a century or so, techniques for effective project management that are now seen as obvious and integral to any well functioning project were considered revolutionary. There was the Gantt chart, developed in the 1900s by a Polish engineer and popularised by an American counterpart, that give a clear visual rendering of project timelines. There was the waterfall model in the 1960s, designed to clearly sequence phases of work, that was enthusiastically taken up by the world’s top scientists. Then, in the 1990s and 2000s, the emergence of agile methodologies foregrounded the need for more flexible approaches to project management, particularly within the field of software development, where rapid advancements in technology demanded a more adaptive and iterative c u lt u re to dr ive lea r n i ng a nd progress. But any questions around where else we could possibly go from there

Further reading… The C-Suite Outlook: How Disruptive Technologies Are Redefining the Role of Project Management | Forbes Insight from more than 530 executives on the major technologies disrupting organisations, and how they’re being managed. bit.ly/2PXhgXG The Future of Work: Leading the Way With PMTQ | PMI This report explains the concept of “technology quotient”, or TQ, and explores how integral it is to robust project management. bit.ly/2VZtsea Climate Change and What the Project Profession Should be Doing About It: A UK Perspective | Prof Peter Morris One of the few pieces of work looking at how the profession of project management might respond to climate change. bit.ly/2Izgyvo Future of Project Management | Arup, The Bartlett School of Construction and Project Management at UCL, Association for Project Management This study compiles best practice in project management, as well as emerging trends in the field. bit.ly/3aDLfM4

were soon answered. A whole plethora of new developments, both in the technologies we use and the work cultures that have come into being, have once again transformed how project management is done. Artificial intelligence, the gig economy and the internet of things weren’t around 30 years ago. And while Henry Gantt’s legacy remains intact, his chart is one of a growing number of tools in use to make tasks today more efficient. Here, we look at a number of major trends shaping how project management is done.

“AI can function as the digital puppet master, pulling the strings and ensuring any risk of a project going awry because of simple scheduling problems can be mitigated”

Artificial intelligence (AI) In decades – even centuries – past, project management processes swallowed up a significant amount of human time. Someone had to collect all the data needed to draw up a Gantt or to manage updates in an efficient way. But artificial intelligence has become an effective project management assistant, able to handle scheduling, reporting, check-ins and so on. So well honed has the technology become that it can observe how a project is progressing and predict what changes will need to be made in the near future in order to keep the project on track. Given the uncertainty of estimates around when a piece of work will be completed, certain AI technologies, like the tool developed by Aptage that draws on visualisations of confidence, allows the user to input upper and lower estimates for the finish date, and the machine learning will work within those parameters. Although little can substitute for the creativity of the human mind, AI can function as the invisible puppet master, pulling all the strings and ensuring any risk of a project going awry because of simple scheduling problems can be mitigated.

The internet of things (IoT) All the billions of connected devices – smartphones, tablets, home heating systems, light bulbs and so on – that make up the internet of things achieve one important element of good project management: faster reporting of data. Any project management process can only ever be as good as the information

that feeds into it. And because we now have so many “things” that boast an internet connection, companies are much better able to respond to problems in the service they offer with precision and efficiency than they were even 10 years ago. Take smart energy meters – companies seeking to innovate around the technological advancements that have accompanied IoT can determine, in real time, how much energy a household is consuming and at what time of day consumption peaks and falls. There can be any number of high-level projects underway in a company, but so too now can each individual household they serve be seen as a project unto itself. The ability to conduct real-time observation and mapping of data trends in just one household – a form of targeted micro-management that didn’t exist until recently – is set to revolutionise the way we consume energy, and anything for which data is king. But it will also change the dynamic between supplier and customer. If companies have a more accurate sense

of our behaviours around any given product, the customer should be able to expect a more proficient service – better response time, and a more refined product offer. Good project management should always have the demands of the end-user at front of mind, and the emerging dynamic seems to be one in which such demands can be more effectively met. The gig economy explosion The number of people working in the UK gig economy – where employees work on demand under short-term contracts – has nearly quadrupled since 2017. Nov 17 – 1.1m Feb 18 – 2.2m Jun 19 – 4.7m

SOURCE: UK GOVERNMENT, THE GUARDIAN

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e top five trends for 2020 Artificial intelligence: the great employment shift By 2037, AI could have net loss/gains on the following sectors, factoring in the percentage of jobs lost to AI versus percentage gained by AI. 22%

HEALTHCARE PROFESSIONAL, SCIENTIFIC & TECHNICAL SERVICES EDUCATION

-18% -22% -25%

22%

PUBLIC ADMINISTRATION TRANSPORT & STORAGE MANUFACTURING

SOURCE: PWC

Project management technology quotient (PMTQ) Project management technology quotient, or PMTQ, is a complicated way of stating something quite simple: “a person’s ability to adapt, manage and integrate technology based on the needs of the organisation or the project at hand,” or so the definition goes. See it as the technological version of IQ (intelligence quotient) or EQ (emotional quotient). So much is changing so quickly in the world of technology, and companies and the personnel who work for them who lack intelligence in this regard will quickly fall behind. PMTQ frames a person’s technological intelligence in accordance with a number of levels: those with high “TQ” are digitally fluent and encourage digital adoption and adaptation across their workforce; those with a low score are resistant to the integration of digital innovations, and prefer more traditional ways of doing things. They may, for instance, continue to see the Gantt as the principal mode of organisation

– machine learning, on the other hand, would be too complicated and expensive to adopt. The Project Management Institute came up with three criteria for demonstrating an individual or company as exhibiting high PMTQ: always-on curiosity, all-inclusive leadership and a future-proof talent pool. Without curiosity, those involved in project management will remain stymied by age-old, human-induced bottlenecks, and the human time required to unblock them. And without ensuring incoming personnel are at least enthusiastic about new digitally assisted management techniques, the process for making the running of any project smoother and more efficient will fail. High PMTQ is a goal that companies that want to compete in the digital age would do well to aspire to.

The gig economy One of the biggest issues facing project management is the rise of the gig economy, whereby the traditional model of

Getting connected: the increase in IoT-enabled devices

228 million

2017

individual does. But it has a third, largely underplayed, effect on the nature of work itself: the gig economy has become a major disruptor of project management. Companies which use gig workers take on, and shed, new employees at a rapid rate. With so many moving parts, standard project management tools are not fit for purpose. The composition of a project team will change regularly, external specialists become more important, and tight-knit working relationships will be harder to form. All of these factors make AI and IoT indispensable tools in being able to rapidly chart trajectories of projects while feeding back data in real time on the people working on them. By adopting new technologies, the project manager will have a clearer sense of how long people can commit to a piece of work, and what they can do while on it, and then design the timeline around that.

Climate change

286 million

2019

SOURCE: AVIVA

work for an individual – a steady 9-to-5 in a single workplace – is replaced by a number of short-term “gigs” for a range of companies. The model has come under fire for producing a new tribe of workers on precarious, insecure contracts, although it has also been hailed for giving flexibility and variety in the work an

Few things will remain unaffected by climate change. Its all-systems impact is likely to gradually, yet profoundly, reshape sectors, from industry to services to healthcare. Disease knows no borders, as we have seen with the recent COVID-19 outbreak, and health systems will, over time, need to contend with greater numbers of people seeking treatment for climate-born illness or harm as a result of environmental disaster. Management systems of hospitals will need to adapt to respond to these new demands. In turn, project management will need to begin to prioritise environmental sustainabilit y to ensure contributions to CO2 emissions are kept to an absolute minimum.

March 2020

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Project Management Institute’s 2020 Pulse of the Profession® report Ahead of the Curve: Forging a Future-Focused Culture sheds insight on how organisations and individuals can seize the advantage

ORE THAN 10 per cent of corporate investment is wasted due to poor project performance, and organisations that dismiss project management as a strategic competency show a sharply raised level of project failure. To be efficient and effective in how work gets done, the Project Management Institute (PMI) believes that organisations must rethink fundamental questions such as “Why are we doing this?” and “How should we organise work?” The 2020 Pulse report focuses on a new way of doing business and delivering value that will enable success in the rapidly changing world: The Project Economy.

The Project Economy Organisations that are fit for the future adopt new ways of working that allow them to thrive during rapid change. Change happens through projects. These are no longer separate from operations. Instead they are central to how problems are solved and value is delivered to customers and stakeholders. Projects disrupt and innovate. In many ways, the organisation is its projects – incorporating many skillsets, executed through different approaches, but focused unwaveringly on delivering financial and societal value. This is what PMI calls The Project Economy. We are living through a time of extraordinary change driven by new technologies. Organisational leaders are faced with complex issues and must reimagine the nature of work and how it gets done. To succeed in The Project Economy, organisations must be built around innovation and agility. For more than half of the organisations surveyed for Pulse, this means building a culture that is receptive to change. Being open to change means being better able to address uncertainty and deliver results. It also means that organisations must learn quickly and pivot to what’s next so they can be best positioned for the future. For many organisations, this “start-up” approach is a cultural step-change. It’s essential though. Fuelled by massive shifts in technology, change is accelerating. Most leaders realise this. And according to PMI’s research, the key factors for achieving success are organisational agility (35 per cent of respondents), investing in the right technologies (32 per cent) and securing relevant skills (31 per cent).

Investing in technology Organisations are investing heavily in technology: according to Pulse, the top areas for medium-term investment are

Project leadership and the future of work Michael DePrisco is vice president, global experience and solutions at the Project Management Institute

technology (49 per cent of respondents) and digitalisation (44 per cent). Project managers must be able to manage and leverage the benefits this technology delivers to organisations. PMI describes this ability as a project manager’s “technology quotient”, and TQ is becoming ever more important. As well as having the TQ to use digital tools, project managers must feel comfortable with technology, able to ask the right questions and look in the right places for opportunities and problems. New technologies such as machine learning, augmented reality and social robotics are disrupting markets. Project professionals must be able to maximise the opportunities those technologies bring. They must be able to pick technologies that can transform projects and interpret data to be able to evaluate and measure the risks they present. And they need to be keenly aware of emerging technologies – such as quantum computing, brain-computer interfaces, and pico-technology – that could bring further massive disruption.

Skills and knowledge It’s not just about technology leadership though. Project managers must also be skilled leaders of people, building teams with different competencies from different parts of an organisation, and displaying empathy for their fears and ambitions. They must be highly effective communicators, with well-honed skills of persuasion. Business skills are important too. Understanding how to ensure projects

contribute to organisational goals is key. In fact, developing business skills to support projects was rated a high priority by 58 per cent of organisations in the Pul se research. Increasingly, these “softer” skills of leadership and business acumen will be essential qualities for project managers, while more routine tasks such as progresschasing and reporting will be automated.

is building prototypes of potential solutions and the final stage is testing these with the target audience so that the best solutions can be identified and rolled out to the market. Design thinking, in other words, is about innovation. It’s about the creation of viable new solutions to commercial challenges. And it’s up to the project manager to ensure that those solutions truly are viable.

Design thinking

Leadership in a time of change

What really counts, though, is the customer. Pulse data shows that 70 per cent of organisations prioritise creating a culture centred on delivering customer value. Finding a customer’s pain points and knowing what they value is critical. And one significant way forward here is “design thinking”. In some ways, design thinking is an old concept. But today’s project manager, with new digital tools for collaborative working, document sharing and ideation management, can ensure that customers are delighted throughout the journey. Design thinking, used by six out of ten organisations (59 per cent), focuses on people. It starts by empathising with customers and the people who serve customers. It’s about researching the answer to a simple question: “How can we help?” The next stage is analysing the research and defining the current state of the market – the needs that people have and the problems they face. Next comes ideation, where assumptions are challenged and new ideas for solutions are generated. The fourth stage

In a time of rapid change, professional project management is a business imperative. Michael DePrisco, vice president, global experience and solutions at PMI, puts it like this: “Organisations are increasingly looking to project leaders to help them turn ideas into reality. That means mixing traditional skills with emerging ones. Project professionals must understand automation and design thinking. But they won’t get far without people skills.” Today’s project managers use technical, leadership, business and digital skills to ensure organisations are agile and maximise the opportunities from changing technologies. Most importantly, they are advocates for the customer. And it is because of this role that project managers are key players in the drive for organisational success. INDUSTRY VIEW

To find out more about Project Management Institute’s report Ahead of the Curve: Forging a Future-Focused Culture, go to www.PMI.org/Pulse

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Build the future by solving tomorrow’s problems today Why a culture of continuous improvement is critical to future-proofing your business and achieving long-term success

OW DO you future-proof something when the future has never been more uncertain? Our political landscape changes seemingly daily, globalisation has increased competition to agonising levels and the potential of what technology can achieve continues to accelerate at an unfathomable rate. If we manage to identify, believe in and deploy a strategy, the chances are it will already be outdated to some degree before it’s even been embedded. It’s easy to understand why so many leaders prefer a wait-and-see approach – let others make mistakes first and learn from them while focusing on simpler issues to improve the bottom line. Braver businesses will embark on a grand transformation, maybe even borrowing to invest in the future – a long-running programme full of big ideas, but of little value to the organisation until the project is actually delivered to users in two years’ time. Both approaches are full of peril. But where there’s a risk, there’s also an opportunity. What if we set ourselves up to minimise the risk of change, to always expect it, maybe even embrace it? Could we be ready, willing and able to effectively capitalise on opportunities the moment they arrive? Assuming we could, what would this fairytale approach entail? Perhaps the secret to success here isn’t an all-singing, all-dancing technological solution, but something we already know we all should be doing more of: investing in our cultures. We’ll need some technology too of course, but culture comes first. In the many years before and during my time at cloudThing I’ve been involved in countless technology, transformation and product development programmes across a wide range of sectors, including blue light, government, education, financial and membership. While I consider the majority of them to have been successful, the degree to which they were varied, and sometimes greatly. Assuming all other things as equal, the overriding factor which I believe predicted this success was the willingness for the organisation to change, and whether they were set up to do this efficiently, safely and often. cloudThing’s current recommended formula (we’re all agile, right?) is to create an environment that’s built to expect ongoing, day-by-day and piece-by-piece transformation. Identify a clear vision, of course, but don’t wait for the perfect version of this to begin and absolutely expect it to

Fran Thomas is chief technology officer at cloudThing

“What if we set ourselves up to minimise the risk of change, to always expect it, maybe even embrace it? Could we be ready, willing and able to capitalise on opportunities the moment they arrive?”

evolve. What’s more important is establishing forums from a cross-section of your business and empowering them to make real decisions. Give them an agile framework rooted in research before action, require measurable results and make it safe for everyone to fail occasionally, because if we’re going to innovate, we need to be free to experiment. By doing this, we have a chance at scaling continuous improvement. We’ll foster deeper ownership of decision making and with the people around us having a greater stake in where we’re going, we’ll discover yet more opportunity to improve. As business leaders this should also free up more time for us to spend working on, as opposed to in, our businesses. If we expect this agility from our people, we also need to expect it from our technology. It, too, needs to be ready for change, for change to be of low impact on the business and for the platforms we choose to be delivering their own innovation. These key factors are some of the core reasons why cloud has been such a success and perhaps why we are seeing more of our customers choose the Microsoft Cloud. This is especially true for Dynamics 365 and the underlying Power Platform, which is currently enjoying YoY growth of over 40 per cent. If you’re already using or thinking about adopting Office 365 these are

logical extensions to rapidly introduce common business applications, an RPA-cable automation platform and a low-code/nocode development environment. These technologies are all part of a fast-growing pattern which lets power users safely selfdirect their own technology needs – clearly of b e ne f it to i n nov at ion d r ive n organisations. It’s simple in theory, but such a shift is demanding on many levels. If your organisation doesn’t specialise in delivering transformation programmes and isn’t exposed regularly to successful approaches a nd te c h nolog ie s, how c a n you design a way of working that capitalises on everything that’s come before? You certainly can’t buy a solution off the shelf because there’s no pre-built package that can deliver your business. After all, you exist because you’re unique in the market. The answer is of course to bring in a partner, but today more than ever, make sure this is the right partner for your organisation. Demand that they understand where you want to be culturally. Demand that they upskill your staff so you can start to deliver change as a business-as-usual activity. Demand that they are socially and environmentally responsible, because now more than ever we all need to be. And considering all businesses are digital businesses, demand that they specialise in the

technologies which will be used to deliver the transformation. When your change partner is also the right digital partner, real impact can be delivered extremely rapidly. The right partner will want to work in this way because they know it’s the most effective recipe for success. The outsourcing of transformation programmes is a fastfading idea. Co-source, or creating a virtual team of your own people combined with specialists from your partner, is rapidly becoming the future. When we manage to join these things together – a flexibility of people and technology – and focus on capability as much as delivery, we call this approach “build future”. We coined this ideology early in our journey to direct us to focus on delivering quickly, solving our customers’ tangible problems today, but doing so in support of a wider, transformative vision. We’re on a journey too and today this also means embedding the expectation and foundations to support constant change in everything we do. Isn’t that perhaps the most prepared we can be for the future? After all, if your business isn’t continually improving, it’s already legacy. INDUSTRY VIEW

fran@cloudthing.com www.cloudthing.com

Picture yourself in an off-the-shelf suit. It's alright, isn't it? But how much better would you feel if the suit was tailored to your exact specifications? Like a second skin, this suit is perfect. Now, imagine that

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your behalf, leaving you free to run your business as you see fit. We could mention that we're Visa and Mastercard Principal Members. It's in our nature to be cutting edge. We were the first payment service provider to integrate Mastercard Dashboard, an innovative security solution. We were one of the first on Visa Direct. Most recently, we became the first on the

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A greener path to digital transformation Digital transformation can help make your business more environmentally sustainable, but only if it’s approached with care, writes Chloe May

ROM AMAZON’S Alexa in your living room to virtual sales assistants in your office, digital technologies are shaping our world. “By 2020, the average person will have more conversations with bots than with their spouse,” reported Gartner in 2016. And technology may indeed be having a negative impact on our human interactions. But at a time when sustainability in business is more important than ever, perhaps the question we need to ask today is, how sustainably can we transform business using digital technology? There is an immense amount of pressure for businesses to keep up with the pace of change. Last year, enterprises spent a total of $2 trillion (£1.5 trillion) on digital transformation. This “megatrend” requires businesses to reinvent their working ways, or risk getting left behind. As motivational speaker and bestselling author Erik Qualman says, “We don’t have a choice on whether we digitally transform; the choice is how well we do it.” It’s a question that could equally be applied to how sustainably we can do it.

Digital technology: a problem for sustainability? CO2 emissions are on the rise, and digital technology is partly to blame. Sending, reading and saving a single email can cost up to 10g of CO2. Ride-sharing companies such as Uber are thought to have added nearly six billion miles to journeys made in metropolitan America – journeys that would otherwise have been made on public transport or foot. And the global power

Best of the blogs

Digital transformation

Healthcare services can be considerably improved, as research demonstrates how machine learning helps doctors and nurses organise bed distribution. Making the important decision about which patients are ready to leave hospital and which should stay bears a huge responsibility: one that can be eased by digital technologies. These and many other technological developments are making business ever more sustainable.

“Being digitally progressive can result in protecting the planet, but this is only possible if the opportunities and challenges are cautiously balanced”

The bigger picture

consumption for the servers that run Bitcoin’s software is almost the same as that of Venezuela. E-waste is also a huge issue. We throw away obsolescent, nearly-new or broken electronic devices, contributing to pollution and reducing the world’s store of rare metals in the process. Electronic devices can also contain toxic materials such as lead or cadmium, which can leach into groundwater or result in atmosphereic pollution if not correctly disposed of. Across the world, informal recycling markets see old devices shredded or burned, emitting tonnes of pollution. This practice is harmful for the environment, as well as being a considerable health hazard for humans in the process. Our air, water and soil are impacted by e-waste, infiltrating all corners of nature and putting our welfare at risk. In many ways, digital transformation is having an adverse effect on our planet.

Delivering sustainability with digital transformation But, increasingly, businesses are addressing these challenges, digitally transforming without hurting the planet. And there are many examples of where this is happening. Artificial intelligence (AI) can optimise the energy use of factories, which can be further optimised by big data analysis, leading to more efficient production planning. The internet of things is an increasing presence in offices and factories, where accurate sensors can help to reduce energy waste. Farmers can also use sensors combined with AI to plan production, reduce waste, and increase crop productivity. Digital twins can be used to test design changes without the need to waste precious resources. Robots can work efficiently and with minimal waste, at the same time freeing humans from “dull, dirty and dangerous” jobs.

Hakuna Matata

MuleSoft

www.hakunamatata.in/ourresources/blog

Hakuna Matata is a leading digital transformation company offering advanced technology-enabled solutions. Its blog provides the latest digital transformation updates for enterprises across different industries. Readers can find out about the top seven challenges CIOs face in 2020 in digital manufacturing, as well as learn how to demystify digital transformation through the “what, why and how” questions.

There’s a caveat, however. Sustainable initiatives need to be analysed holistically: there is no easy solution to solving the climate crisis. One example is electric vehicles (EVs). These may reduce pollution and cut down on the use of fossil fuels, as they can be powered by renewable energy sources. But the batteries that power them are unlikely to last as long as a petrol engine, meaning that more than one battery will be needed over the lifetime of an EV, with the energy and mineral resources that requires and with the pollution and waste incurred when the batteries are disposed of. The jury is still out on the environmental benefits of EVs. Sustainability and digital transformation will be together at the top of business priorities for some time. We know that being digitally progressive can result in protecting the planet, but this is only possible if the opportunities and challenges are cautiously balanced. With care and common sense, though, digital transformation and sustainability can go hand in hand.

blogs.mulesoft.com

Frost & Sullivan

digitaltransformation.frost.com

Frost & Sullivan is a partnership company that provides expert guidance and advisory services. It offers an insight into digital transformation, through an intriguing interactive portal. In the blog, you can discover thought leadership, current news and industry best practices. The “trending now” feature reveals which topics are currently dominating the world of digital transformation, such as big data and analytics.

MuleSoft provides an integration platform for connecting applications, data, and devices both on-premises and in the cloud. Its blog is a useful hub that hosts a range of perspectives about digital transformation. You can find in-depth opinion pieces such as a recent one on microservices, as well as articles exploring how to use new software such as MuleSoft’s own platform APIs.

The Happiest Minds

www.happiestminds.com

Readers are invited to get ahead of the game with a selection of blogs by tech superstars. Posts are split into topics, such as cyber-security, the cloud and IoT. The platform also suggests other blogs you might be

interested in, based on the ones you are reading.

Digital Works Group

digitalworksgroup.com/blog

The digital works group blog shares useful advice about how to approach digital transformation. Some of the articles lead on to a follow-up piece that provides additional information on a particular subject. The blog also offers a range of expert interviews, to give readers a glimpse into the minds of the top professionals in digital transformation.

March 2020

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Meeting the challenges of the European debt market T

HE PAST 20 years have been an incredible ride, growing and positioning QUALCO as a technology leader in the debt management industry, closing new partnerships and working on expanding the company to new markets. In this interview, Miltos Georgantzis, CEO and founding partner of QUALCO, gives the answers to questions about the situation in the European debt market. What is the status of Europe’s debt market? Even though the non-performing loan (NPL) stock of the European banks has been officially reduced, those portfolios have shifted from the banking industry to investors and specialised servicers. In practice this means debt portfolios are decreased – not because debtors have repaid their debts directly to the bank, but because those portfolios have changed hands and are now worked out by non-banking organisations that are more flexible and more efficient. The decrease in NPLs has been achieved partly thanks to regulatory pressure, but portfolio sales also play a significant role in European banks’ deleveraging activities. The NPL stock in Europe is still high, however, with banking sectors in certain countries and individual banks being particularly exposed. The market for distressed debt through specialised loan servicing speeds up NPL resolution and allows greater flexibility while investors contribute crucial skills and capital to the process of workout and restructuring. These different players are part of QUALCO’s client environment and that gives us, as technology providers, sharp insight into the needs of this expanding market. While the stock of NPLs is falling the opportunities are growing. Why is that? Banking debt seems to be shrinking but as market share shifts to investors and specialised servicers opportunities are still high. Such organisations are quite lean and have less cyclicality, leading to a much faster work-out speed and

thus bigger workloads. On top of that there is a market segment of non-banking debt portfolios coming from alternative lenders and utilities who outsource the administration of performing and non-performing portfolios. All these factors bring us to an era of expansion into overall receivables management, the complexity of which requires best-in-class enterprise technology combined with advanced analytics capabilities. QUALCO, with more that 20 years of experience in the field, is uniquely positioned through its unified product offering, that caters to the needs of this large and diverse market. Do you have any predictions about how the debt market in Europe will evolve? Debt management operations are increasingly performed by global crossover firms rather that the banks. Those firms operate in many countries and in most cases every country has a different software system in place. This practice soon becomes hugely complex so nowadays firms look for a central software solution. The combination of increasing globalisation, multi-country operations and the rise of organisations that combine debt purchasing, debt collection and servicing of loans are bringing fundamental changes by fueling consolidation. But even though operations tend to be multinational, the collections industry is still very local in terms of regulation, best practices and culture. We are entering an era where the integration of state-of-the-art technology, and the operational implications of regulatory compliance, are accelerating the transformation of the sector, and we are proud to say that QUALCO acts as the backbone that supports a number of the biggest global players in the sector. What does the collection industry look like in an age that leverages modern technology and big data? In our experience, enterprise-class collections technology has the

ability to transform results. In this context our clients are much more demanding than they have been in the past. Strong adherence to regulatory guidelines, enhanced customer experience, the single borrower view, real-time reporting, behavioral mapping and operations automation now tend to be standard requirements. Every collection situation is different, so modern software must be customised to meet individual needs, and combined with big data and advanced analytics it can radically improve collection rates and drive the successful rehabilitation of customers.

“At QUALCO we realised early on that to compete against much larger companies means adapting innovating and acting at pace” – Miltos Georgantzis, CEO, QUALCO

Do you have any advice for the NPL industry? Collections practices have changed significantly in the past decade, with increasing recognition that the fair treatment of customers, especially those in financial difficulty, is crucial, which is set to continue and spread to emerging markets. Banking and non-banking organisations must ensure they are equipped to deal with customers, especially those in arrears, who are experiencing financial distress. Advanced technology Miltos

Georgantzis

is a great enabler when it comes to treating customers fairly. What’s the biggest product problem you’re trying to solve? How aligned are your offerings to market demand? At QUALCO we put client performance at the centre of what we do. We provide solutions that futureproof their business performance and act as their best consultants. Our capabilities and resources are arranged to support the client’s purpose. We are proud to offer a fullservice debt-management software environment that meets global reach requirements, seamlessly adjusts to local behaviours, practices and regulations, and enhances efficiency and consistency, with a strong IT and AI backbone. What has been your biggest challenge so far as a business? Like any business QUALCO has come up against challenges. The biggest concern is maintaining flexibility while increasing accountability to the client. I strongly believe the real force

behind success is rooted in our collective ability as a company to adapt, and to realise that our value chain is only as strong as its weakest link. The fact that we started as a local company that is now able to compete with some of the bigger brands in the marketplace is giving us great drive for the future. What is the role of the company culture at QUALCO? Developing software is all about enabling a large and diverse group of talented people to work closely together, united behind a shared vision. Our strong spirit of teamwork and collaboration has remained unchanged throughout our more than 20-year journey. We also realised early on that to compete against much larger companies means adapting, innovating and acting at pace. These are the defining traits of QUALCO’s culture which, together with our singular focus on becoming the leader in the NPL software space, will fuel our growth in the years to come. INDUSTRY VIEW

+30 693 695 8319 www.qualco.eu

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Ask the expert… What are the biggest recent changes to the project management sector? Debbie Dore, chief executive, Association for Project Management

HE EXPECTATIONS of people commissioning projects now go far beyond successful delivery of cost, quality and time. Projects are increasingly thought of in terms of the wider benefits they bring to society, and they need to deliver on this aspect too, in order to be successful. We all have a responsibility to deliver sustainable solutions that benefit society. The growing impact of data, automation and artificial intelligence can no longer be ignored. The impact of these technologies is already touching on almost every aspect of how we live and work and is key to successful project management. Project managers in every sector need to embrace the benefits these new technologies can offer, such as productivity gains, so that they can use them to deliver even better outcomes. Ultimately, projects need to be measured on the economic and social benefits they produce. There is an enormous opportunity for project practitioners to be at the forefront of change that can be truly transformational for individuals, businesses and communities.

Hot-button questions answered by industry thought leaders

How do we improve business performance with project management? Michael DePrisco, vice president, global experience and solutions, Project Management Institute

N THE Project Economy, projects are at the core of how organisations activate change and achieve impact. The Project Management Institute’s newly released Pulse of the Profession® reveals that an average of 11.4 per cent of investment is wasted due to poor project performance and stresses that organisations that undervalue project management as a strategic competency for driving change report an average of 67 per cent more of their projects failing outright. In order to ensure project success, both organisations and individuals must be agile and embrace a culture of change. Organisations need to invest in disruptive technologies like AI and machine learning, but also ensure there is the training, processes and talent to get the job done right. Project management professionals play a key role in helping organisations turn ideas into reality. They need to have a mix of technical, leadership, business and digital skills in order to break down silos in their organisation and lead multidisciplinary teams of people to deliver value for the customer.

INDUSTRY VIEW

@APMProjectMgmt www.apm.org.uk

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What are the best payment solutions to improve business performance on a global scale?

How can you optimise the performance of your debt recovery?

Alex Pestana, head of business development APAC, ECOMMPAY

Miltos Georgantzis, CEO and founder, QUALCO

VERY ONLINE business is different. The “best payment solution” for one may do nothing for another. However, one thing is certain: each payment solution must go beyond existing merchant requirements to facilitate further growth. The choice of payment service provider matters. Business continuity depends on infrastructure. Merchants must ensure their payment partners have multiple data centres and tech specialists available 24/7/365. Payment service providers help clients achieve business objectives, which could be anything from expanding into new territories to reducing fraud rates. In the former scenario, the best payment solution must facilitate fast access to new territories. It must be flexible, scalable and compliant with regional regulations, offering a selection of local payment methods and helping avoid the dreaded double currency conversion. In the latter? A reliable, customisable risk management system supplemented by experienced risk analysts. As the frontline between merchant and consumer, payment partners must engineer the best solution for each individual scenario.

COMBINATION OF operations automation and advanced analytics, underpinned by a comprehensive collections platform, is required to push debt recovery to new levels. Automation has a clear, direct impact on operational efficiency: 360-degree customer views, guide scripts, and dialler and digital channel integration can significantly increase operator efficiency and reduce training costs. Advanced analytics, on the other hand, build on operations to improve effectiveness: optimal segmentation, contact channel treatment approach selection and action prioritisation can all be improved by leveraging data recorded by the operations platform. Back-office functions such as customer request handling, direct debits and legal action support can also be integrated within the same customer journey, minimising effort while contributing significant signals to analytics. Operations and analytics should be seen as equal contributors interacting to benefit each other, promoting short-term recoveries and long-term customer rehabilitation while safeguarding customer rights and ensuring regulatory compliance.

INDUSTRY VIEW

www.ecommpay.com

+30 693 695 8319 www.qualco.eu

INDUSTRY VIEW

@PMInstitute www.pmi.org

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