Reduce Risk and Increase Revenue: How Project Portfolio Management Helps You Do Both

With more than two-thirds of enterprises failing in their attempt to undergo a digital transformation, it’s critical you carefully plan your own digital transformation project so that your company doesn’t become a casualty. While you’re an expert at your own business, it’s likely that you’re not an expert at digital transformation.

A project manager who has access to effective digital transformation tools can be the difference between success and failure. However, the right project manager can also help you increase your revenue and reduce risk at the same time. Here’s how project portfolio management with implementation delivery capabilities can lead to a positive digital transformation experience for your entire company.

The Role of a Project Manager in Digital Transformation

You may wonder why a project manager is so critical to the digital transformation process. After all, doesn’t it just involve implementing new technology? What could be so difficult about that? The truth is, a full digital transformation is much more involved than just adding new technology to your company. It’s about changing the company’s approach, culture, and processes, and while the leaders at your company will drive the vision, goals, and roadmap to the end product, a project manager is the one who will put the plan into action.

There are numerous challenges that most organizations face when they’re undergoing a digital transformation. A project manager’s job is to keep the customer’s needs at the forefront of the process, seek and implement feedback about the changes as they’re implemented, and use data to drive decisions about which digital implementations are working and which ones are not.

Characteristics of an Effective Project Manager

The best project managers in a digital transformation have a few characteristics in common. They respect legacy processes and expect resistance from employees who are reluctant to embrace new processes. They empathize with these employees but are also able to demonstrate how digital transformation will positively impact each role in the company. They can turn skeptics into believers by understanding why the current legacy process was implemented and how that decision can apply to the new process.

Digital transformation project managers know their PPM software inside and out so that they can organize the transformation process and ensure companies are meeting their goals. They can extract and analyze data to ensure an organization’s transformation is on target and use their tools to quickly pivot directions if something isn’t working. Project managers rely on data to highlight a company’s strengths and weaknesses and allow innovation to occur. In general, those in the project management office foster an agile culture that uses digital processes to enhance their customers’ experience and generate increased revenues.

Conclusion

The most important takeaway from experienced project managers is that digital transformation is not something you should attempt to handle without an experienced project manager. You need to spend the time doing what you do best, which is run your company, and allow a project manager to handle the digital transformation project for you. 

Adam Hansen