How Proper Executive Sponsorship can help Project Implementation

Accelerated technological invention, and the internationalization of competition are putting more complex requirements on information technology (IT). So as to Offer a flexible, appropriate, and cost-effective selection of functions, and it is Crucial to always boost the execution methodology in Addition to the IT program portfolio.

Based on the survey conducted by PAT Research proper Executive Sponsorship and involvement provide benefits such as project time cut, reduces project costs, decrease in the Total Cost of Ownership (TCO), quality of the project results, satisfaction of project participants, and process cost reduction.

The Benefits of Executive Sponsorship in Project Implementation

• Project time was cut

Proper Executive Sponsorship and involvement helped an average project time was cut by 22%. All project phases benefited by varying degrees such as ranging from a 15% time cut for Project Preparation and Final Preparation, a 17% decrease in the Preliminary Project phase, a 20% reduction for Realization, through to time savings of 24% for the Business Blueprint phase.

• Reduces project costs

As the project costs largely stem from time-related personnel expenses incurred for the internal team and external consultants, it is not surprising that decreasing project times average across all applications reduces project costs by 20%.

• Decrease in the Total Cost of Ownership (TCO)

With the Proper Executive Sponsorship and involvement the changes in project, introduction and operating costs as a result, an 11% decrease in the Total Cost of Ownership (TCO) is obtained.

• Quality of the project results

In addition to time and cost, the quality of the project results is also positively influenced with enhanced functionality, reinforced utilization of functionality and greater satisfaction of project stakeholders.

• Satisfaction of project participants

The satisfaction of project participants increased. The most significant augmentation was gauged among management and business, while average users and the works council experienced an increase of 22% respectively.

• Process cost reduction

Operational improvements, such as shorter project times and the enhanced quality of project results, also brought about a greater reduction in process costs and, although seldom, a greater potential for revenue increase.

Executive Sponsorship shorten project time, cut project costs, reduce TCO and project risks, increase project benefits such as process cost reductions or revenue increases, and, therefore, create substantial total value added for the company using them in the implementation project.

What are the Best Practices for Proper Executive Sponsorship in an Implementation

• Evaluate Proper Executive Sponsorship in an Implementation irrespective of preconceived views about their applicability.
• Follow strategy, clarify your own expectations before examining the potential value added to be gained.
• Carry out a systematic assessment at an early stage, at least in accordance with the principle of dual control, and allow for approximately 2 weeks planning.
• Bring about and document a conscious decision.
• Come to a joint decision with the consultants and project team as opposed to blindly following his advice.
• Regularly review the deployment during the project.
• Encourage business subject matter experts and reduce the involvement of consultants, but do not replace them.