{"id":794,"date":"2013-01-24T16:51:48","date_gmt":"2013-01-24T21:51:48","guid":{"rendered":"https:\/\/portfolio-perspectives.planview.com\/?p=1907"},"modified":"2022-04-01T10:38:15","modified_gmt":"2022-04-01T15:38:15","slug":"project-based-business-correlation","status":"publish","type":"post","link":"https:\/\/blog.planview.com\/project-based-business-correlation\/","title":{"rendered":"Analysts Detail Correlation Between Tech Solutions and Performance for Project-Based Businesses"},"content":{"rendered":"<p>In mid-2012, two independent research organizations published unique reports about the best practices of top-performing, project-based businesses. Each had their own focus on the subject matter regarding the emphasis of their research metrics or how differing project-based companies can be collectively considered successful despite a wide variety of nomenclature, product offerings, and organizational structures. Regardless of their intention; however, both came to a remarkably similar conclusion.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/blog.planview.com\/project-based-business-correlation\/#Best_Practices_of_Top-Performing_Best-in-Class_Professional_Services_Organizations\" >Best Practices of Top-Performing (Best-in-Class) Professional Services Organizations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/blog.planview.com\/project-based-business-correlation\/#If_PSA_is_not_enough_and_ERP_is_not_enough%E2%80%A6\" >If PSA is not enough and ERP is not enough\u2026<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Best_Practices_of_Top-Performing_Best-in-Class_Professional_Services_Organizations\"><\/span>Best Practices of Top-Performing (Best-in-Class) Professional Services Organizations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<table style=\"border: none;\" border=\"0\" width=\"640\" cellspacing=\"0\" cellpadding=\"10\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #d9e2ea; padding: 10px;\" valign=\"top\" width=\"88\"><b>Research Organization<\/b><\/td>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"223\">Services Performance Insight<\/td>\n<td style=\"border: 1px solid #999; border-bottom: none; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"216\">Aberdeen Group<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #d9e2ea; padding: 10px;\" valign=\"top\" width=\"88\"><b>Publication<\/b><\/td>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; padding: 10px;\" valign=\"top\" width=\"223\"><a title=\"2012 Service Lifecycle Management Maturity\" href=\"http:\/\/www.spiresearch.com\/spi-research\/reports\/2012slm3.html\">2012 Service Lifecycle Management Maturity<\/a>, February 2012<\/td>\n<td style=\"border: 1px solid #999; border-bottom: none; padding: 10px;\" valign=\"top\" width=\"216\">Project Management in Professional Services: Managing People for Profits, July 2012<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #d9e2ea; padding: 10px;\" valign=\"top\" width=\"88\"><b>KPIs of Top-Performers<\/b><\/td>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"223\">Top 5% in:<\/p>\n<ul>\n<li>Annual revenue growth<\/li>\n<li>Earnings before interest, taxes, depreciation and amortization (EBITDA)<\/li>\n<li>Annual revenue per billable consultant<\/li>\n<li>On-time project delivery<\/li>\n<li>Percentage of reference-able clients<\/li>\n<\/ul>\n<\/td>\n<td style=\"border: 1px solid #999; border-bottom: none; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"216\">Top 20% in:<\/p>\n<ul>\n<li>% of projects completed on time or early<\/li>\n<li>% of projects delivered within budget<\/li>\n<li>% of reduction in time-to-decision over the past year<\/li>\n<li>% of employees Which exceeded their performance metrics during annual reviews<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; background: #d9e2ea; padding: 10px;\" valign=\"top\" width=\"88\"><b>How Top-Performers are Distinguished<\/b><\/td>\n<td style=\"border: 1px solid #999; border-right: none; border-bottom: none; padding: 10px;\" valign=\"top\" width=\"223\">High rankings in maturity level characteristics in:<\/p>\n<ul>\n<li>Resource management; visibility from prospect to project to ensure the right resources with the right skills are available when needed<\/li>\n<li>Structured or standardized service delivery processes<\/li>\n<li>Solid project management; visibility into the schedule, resources, deliverables and risks to ensure projects are delivered on time and on budget<\/li>\n<li>Accurate and timely project accounting<\/li>\n<\/ul>\n<\/td>\n<td style=\"border: 1px solid #999; border-bottom: none; padding: 10px;\" valign=\"top\" width=\"216\">Best-in-Class when compared to all others have nearly double:<\/p>\n<ul>\n<li>Central visibility to skill sets of available resources<\/li>\n<li>Decisions that are consistently made from a single version of data<\/li>\n<li>Real-time visibility into all project milestones and schedule status<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"border: 1px solid #999; border-right: none; background: #d9e2ea; padding: 10px;\" valign=\"top\" width=\"88\"><b>Key Business and Technology Capabilities<\/b><\/td>\n<td style=\"border: 1px solid #999; border-right: none; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"223\">PSA plus:<\/p>\n<ul>\n<li>Integrated information systems of ERP and CRM<\/li>\n<li>Standardized service delivery processes of sales pipeline, billable utilization and meeting margin targets<\/li>\n<li>Resource management; resource\/workforce scheduling; skill matching<\/li>\n<li>Workflow productivity measurements<\/li>\n<li>Project scheduling and change management<\/li>\n<li>Knowledge management (KM)<\/li>\n<\/ul>\n<\/td>\n<td style=\"border: 1px solid #999; background: #EFF2F5; padding: 10px;\" valign=\"top\" width=\"216\">ERP plus:<\/p>\n<ul>\n<li>Project scheduling<\/li>\n<li>Project costing<\/li>\n<li>Time tracking against projects<\/li>\n<li>Change management<\/li>\n<li>Resource\/workforce scheduling<\/li>\n<li>Expense tracking against projects<\/li>\n<li><a href=\"https:\/\/www.planview.com\/products-solutions\/solutions\/project-portfolio-management\/\">Project Portfolio Management<\/a> (PPM)<\/li>\n<li>New request management<\/li>\n<li>Post project completion service management<\/li>\n<li>Subcontractor management<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"If_PSA_is_not_enough_and_ERP_is_not_enough%E2%80%A6\"><\/span>If PSA is not enough and ERP is not enough\u2026<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Juxtaposed against one another, the Aberdeen Group and Services Performance Insight agree that the more typical software offerings are not successful in providing project-driven organizations applicable solution.<\/p>\n<p>Services Resource Planning (SRP) is a solution designed to improve upon ERP with the project-based business solely in mind. Specifically, where PSA, ERP, and CRM all fall short, SRP saves the day by giving project-based service organizations the tools to access:<\/p>\n<ul>\n<li>Accurate project data<\/li>\n<li>Deep visibility into resources, skill set, individual capability, and scheduling<\/li>\n<li>Universal tracking of client issues<\/li>\n<li>SRP and ERP integration<\/li>\n<li>Broad visibility into all active projects<\/li>\n<\/ul>\n<p>For more information on how Planview considers Services Resource Planning (SRP) the key solution to the technology gaps discovered by Services Performance Insight and Aberdeen Group, take a look at <a title=\"The Planview Approach to Service Resource Planning\" href=\"\/wp-content\/uploads\/2013\/01\/Planview-Approach-to-Services-Resource-Planning.pdf\">The Planview Approach to Service Resource Planning<\/a>.<\/p>\n<p>Did you take one of these surveys conducted between 2011 and 2012? Are these findings reflective of your company&#8217;s technology requirements? Share by leaving a comment below.<\/p>\n<p>Related posts: <a title=\"SRP and PSA -- There IS a Difference -- Part 1\" href=\"\/differences-between-srp-and-psa\/\">SRP and PSA &#8212; There IS a Difference &#8212; Part 1<\/a> and <a title=\"Managing Project-Based Businesses in Turbulent Times\" href=\"\/managing-project-based-businesses\/\">Managing Project-Based Businesses in Turbulent Times<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In mid-2012, two independent research organizations published unique reports about the best practices of top-performing, project-based businesses. Each had their own focus on the subject matter regarding the emphasis of their research metrics or how differing project-based companies can be collectively considered successful despite a wide variety of nomenclature, product offerings, and organizational structures. Regardless&#8230;<\/p>\n","protected":false},"author":33,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_editorskit_title_hidden":false,"_editorskit_reading_time":0,"_editorskit_is_block_options_detached":false,"_editorskit_block_options_position":"{}","footnotes":""},"categories":[35],"tags":[488,335],"class_list":["post-794","post","type-post","status-publish","format-standard","hentry","category-pmo-project-management-organizations","tag-professional-services","tag-services-resource-planning-2"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.8 (Yoast SEO v26.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Project-Based Businesses and Solutions - Blog | Planview<\/title>\n<meta name=\"description\" content=\"What are the best practices of top-performing, project-based businesses? 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