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Executive Perspectives

How the Infrastructure Bill is Challenging Companies to Better Manage their Projects

With President Biden’s $1.2 trillion infrastructure bill pouring billions into fixing the nation’s public works system and environmental remediation, the number of new projects coming down the pipeline presents opportunities for companies to invest in business systems that put projects front and center.

Now more than ever, with the shift towards projectization, and as projects are becoming larger and more complex, companies are starting to recognize their current setup is not as efficient as it could be. Many are struggling to find ways to better manage the increased number of tasks, costs, and risk that come with large, complex projects.

With managing any project, but especially massive, complex projects with lots of moving parts, it’s almost impossible to keep track of every single task and the people involved in those tasks in their current setup. Managing projects using different point solutions that require manual data integration is not only unsustainable, but often results in mistakes made and issues overlooked that become major problems down the road.

Embracing New Technologies to Better Manage Complex Projects

To make the most of the funds being allocated to state and local infrastructure projects, it’s important to recognize changes need to be made in terms of embracing new technologies to better manage the sheer volume and complexity of projects coming in. Sections in the infrastructure bill acknowledge and allocate funds to accelerate the adoption of new technologies to increase productivity, reduce project delays and budget overruns.

The fact of the matter is, companies cannot continue to rely on outdated methods of managing projects. According to a McKinsey report on infrastructure productivity, streamlining delivery presents an opportunity to save up to $400 billion annually and accelerate timelines.

Now is the time for companies to adopt a project business system that manages the entire project lifecycle. When delivering projects is crucial to the success of your business, the only way to ensure projects are delivered on time and on budget is to focus on managing the business side of those projects.

Project Business Automation: Putting Projects Processes at the Center

Project Business Automation take a process-first approach to project business. It provides an integrated and continuously updated view of core project business processes normally managed in disparate point solutions such as an ERP, project scheduling and resource management tool, and spreadsheets. Having to manually consolidate and integrate data from these different applications is not only time consuming, but also risky business as mistakes are bound to happen and important decisions are often made based on unreliable data.

To learn more about Project Business Automation, download the PBA Quick Guide.

PBA is the only business system focused solely on project business. It seamlessly combines all project business areas including project financials, operations, and insight in a comprehensive business system that ensures transparency and real-time insight into the status of your projects.

While there are many project solutions on the market, many solutions out there was built by acquiring other vendors with different capabilities. PBA completely reinvented these project capabilities from the ground up, designing and making sure everything works together. What this means is you don’t get a bunch of different functions, you get a holistic business system that manages every aspect of your project from start to finish.