M4D Business Journal 103 Improve Project Success

MANAGEMENT FOR DESIGN ----------------------------------------------

BUSINESS JOURNAL 103 Improve Project Success and Profitability ---------------------------------------------Measuring Success

and those that were not. Once we have identified these projects we can analyse the data and draw our conclusions

Architecture and Engineering firms use various measures for success. There are numerous Key Performance Indicators that can be managed, tracked and reported on but the aim of every project is to ensure the client is

as to why they were (or were not) a success. Before analysing the data ensure that you know your specific measurements for success. It can be profit, revenue, staff utilisation, repeat work etc.

satisfied with the outcome and that we are satisfied with the outcome.

Today’s challenging business environment highlights the absolute necessity of accurate and up to date project and

For client satisfaction it is necessary to ensure that the

business data. Firms that automate and streamline their

project has been completed according to contractual

business processes are the ones with a significant

agreement, on time and within budget.

competitive advantage.

For business success the project will meet your design

Improve Project Profitability

aspirations, have been completed on time, has been profitable and will deliver on-going work with the client.

Automating your business processes can lead to a significant increase in project profitability. Eliminating

Improve project efficiency and success

manual processes such as re-entering project data from one system into the next leads to time savings, eliminates

In order to achieve project success and maximise

the risk of errors and also reduces the amount of time

profitability we want to ensure we are as efficient as

spent on administration by your project (billable) resources,

possible, are always up-to-date with project progress, can

meaning they can now spend more time on client work.

spot potential problems early on, we can invoice for all the work involved, and our invoices are correct the first time.

Automating your business processes improves the information flow within your organisation. Information can

Clients of design businesses greatly value prompt

now be shared more easily and quickly between

communication and responsiveness. This is particularly true

departments, thereby increasing efficiency throughout the

in tight economic conditions where clients are diligent

company and reducing the amount of time wasted on

about expenditure. It is crucial to highlight any potential

searching for information (for some design firms up to 10%

problems to projects immediately so that timely action can

of staff time is spent looking for information).

be taken to avoid bigger problems later on.

By automating the process between project set-up and One key way to ensure success for current and future

invoicing, you can be confident that all time spent on

projects is to look at previous project data. This allows us to

projects will be captured. If you are working on a fixed fee

identify those projects that were successful (and profitable)

project this information allows you to track project m4d.com.au

performance to date: it allows you to view how much time

Benefits of automating your business processes with an

is needed to complete a project, if you have over-serviced

integrated solution:

clients and, ultimately, it will allow you to view which projects are most profitable (revenue vs. expenditure).

•

One point of data entry; one Client, Company, Contact and Supplier record, shared on a ‘need to know’ basis throughout the company

Using multiple applications •

project entered in Melbourne is instantaneously

Design firms that do not use ‘sophisticated’ integrated

available for viewing by a manager in Singapore

systems to automate their process and capture various

through the project or client record

project related information are at risk of inaccurate data and ineffective processes and thereby not achieving full and

Instant updates - an activity record entry on a client

•

Real time reporting – immediate access to up-todate and accurate reporting for financial

efficient performance.

performance, invoices, revenue, time and expenses against projects

In order to make effective, mission critical project decisions we need to be able to access up-to-the-minute project data

•

need for expensive dedicated links between offices

that can be accessed via reporting with drill-down capabilities – allowing us to view the underlying business

Fully web optimised and enabled – reducing the

•

Fast deployment - standard industry best practice business processes built in, the ability to amend

data within moments.

screen layout and add new fields with no programming and business critical reports provided

When using multiple systems, as opposed to one fully

as standard

integrated platform, businesses are at risk of using data that may be out-of-date. Transferring data from one system

•

Lower total cost of ownership - fast ROI achievement

into the next there is also the risk of inaccuracy due to

with ability for firms to “own” the solution rather

systems not working together efficiently.

than relying on consultants

Design businesses that are still working with multiple

Adopting a fully integrated system provides the greatest

applications may want to review the total costs of

opportunity for efficient business process automation and

ownership and the risk of doing so. With the design and

the tools design businesses need to reduce overall costs,

delivery of “cloud” solutions now mature implementation is

lower project related risks and improve project success and

now more much more cost effective. “Sophisticated”

profitability.

systems are no longer as expensive or extensive as once they were and implementation and maintenance costs have

Conclusion

reduced substantially. Not only that, but businesses now

There are significant savings to be made by professional

have the ability to more easily tap into a more dynamic and

services firm when automating business processes and

skilled support network of people and systems.

improving internal efficiency. The majority of these savings will directly impact a company’s bottom line. In addition,

Automate your business processes with one fully integrated system

automation will allow for more effective and efficient project progress leading to more projects coming in on time and within budget. Investing in a system to automate business processes will improve project success and,

A fully integrated business management system (BMS) can

ultimately, increase a company’s revenue and profitability.

meet the needs of the entire project lifecycle within a design firm.

It can greatly improve efficiency, reduce risk, decrease cost and increase profit. An integrated solution will allow you to efficiently automate your business processes, leading to improved resource utilisation through proactive resource management, and increasing company-wide visibility of projects and resources whilst reducing overall costs. m4d.com.au

Management for Design provides integrated business systems and services to the design industry across Strategy, Finance, Information Technology, Human Resource Management and Business Systems By working with Management for Design our clients are enabled to focus on what they are great at and to control and build their businesses. For more information visit www.m4d.com.au or phone 03 9645 8834

m4d.com.au