Changing the World of Project Business
Projects are vital to your business. Find out how Adeaca is doing something about it.
Project business is a $20 trillion economy
Project business impacts nearly every company on the planet, with trillions of dollars wasted every year in projects that are over budget or behind schedule. We are on a mission to revolutionize project business. Find out how.
- Project business is a $20 trillion economy.
- Yet, 91.5% of projects finish over budget or behind schedule.
- A lack of business systems and a fragmented landscape of applications perpetuate the problem.
- Changing your point-of-view is the key to the solution.
- The impact of this paradigm shift is potentially astounding for your company and project businesses everywhere.
Are projects important to your business?
Project Business is Everywhere
Project business encompasses a wide range of industries and businesses, including:
- Project-based companies: construction, energy, defense, aerospace, pharmaceuticals, and research and development, among other industries (see more).
- Capital project divisions of large enterprises in manufacturing, retail, logistics, and others.
According to the PMI Institute, the value of project-oriented economic activity is projected to exceed $20 trillion by 2027.
Project business encompasses not only these organizations but also their customers, third-party stakeholders, and government entities, affecting nearly every company worldwide.
Where do you fit in here?
A $20 Trillion Economy
What is the extent of the problem?
91.5% of projects finish not on target!
A staggering 91.5% of projects are reported to finish over budget, behind schedule, or both, resulting in trillions of dollars wasted annually.
The core challenge lies in the fact that project organizations are essentially managing billion-dollar enterprises with spreadsheets and outdated, standalone desktop tools. This fragmented approach results in data silos, limited visibility, and a lack of control over project execution.
According to McKinsey, project-driven organizations are lagging far behind in the digital transformation journey, remaining entrenched in this status quo for the past 50 to 60 years, with no viable technology solutions in sight.
The question arises: In what other industry or business sector would such inefficiency be considered acceptable?
Why has the problem persisted?
No viable options for the whole business
Project solutions have been developed over the past three decades to tackle specific and narrow tasks such as scheduling, costing, resource management, and risk management. While they may be excellent at what they do, they mostly operate in isolation.
A project business encompasses all these functions and more, yet there has been little innovation in developing integrated business systems that address these comprehensive needs.
How interested parties benefit from the status quo and perpetuate the problem:
- Software vendors providing a narrow solution have a vested interest in continuing with the status quo, out of fear of becoming obsolete.
- Consultants benefit from the chaos they are constantly relied upon to fix and improve.
- An entire cottage industry of training exists around these different disciplines of project management, attempting to squeeze every last bit of optimization out of a fundamentally broken situation.
Silos perpetuate silos
What is the right solution?
What do the leaders in your project business want?
To solve this challenge, we must adopt the viewpoint of the project business leader. What do they require to effectively manage their organizations?
From this perspective, the solution becomes clear: project business leaders need a comprehensive system that integrates their people, processes, and data across all projects: a Project Business System.
A project business system fills a crucial gaps for project-driven organizations. Similar to how ERPs streamline operations for retail, manufacturing, and distribution businesses, project business systems perform the same function for project-driven organizations.
What is the potential impact for your business?
Digital transformation that actually means something to your business
As the hype for digital transformation has waned, project business systems represent a real opportunity for digital transformation, with the potential to revolutionize the operations of your business. Project business systems offer tangible operational results that can drive up revenue and profitability.
How project business systems can transform your organization:
- Eliminate silos of data and unnecessary applications
- Make business decisions with dynamic, real-time information instead of stale reports
- Minimize uncertainty in your profits through enhanced cost management
- Reduce the administrative burden on your team
- Increase agility with real-time data to manage risk more effectively and reduce overruns and delays
- Reengineer processes and reshape teams to work better together
- Optimize utilization of revenue producing resources
- Maximize capacity for project work
How Adeaca is changing the world of project business
Adeaca’s mission is to make project business systems (PBS) the standard for managing the project-driven business of every company.
Just like ERP is the standard for managing company financials and CRM is the standard for managing customer relations, PBS should be the standard for managing project business.
What is unique about Adeaca is that we have adopted the project business leader’s point-of-view. We ask ourselves every day, what does the project business leader need to run their organization better?
That led us to create the first ever project business system that we call Project Business Automation (PBA). We have been building and improving this system since 2007 from this unique perspective. This has led us to make some remarkable innovations, but the real innovation is that we take into account the entire project business and the leader’s point-of-view while nearly everyone else does not.
PBA is the leading example of what a project business system could be.
Find answers to your questions
Discover more or engage with our project business experts.
PBA Quick Guide
This Quick Guide to Project Business Automation gives you a high-level overview of PBA and how it can be applied to your project-driven business.
PBA Fit Assessment
Quickly find out if Project Business Automation will work for your company. Based on your company's profile, we will share how PBA will solve your problems and bring value to your business.
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Simply start an email dialogue to gather some more information about our solutions, our company and our expertise.
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