Projects have been built the same way for decades. Salespeople and project managers have spent a lot of time and resources building complex projects, creating project proposals based on guesses, instead of ensuring accuracy through models that encapsulate best practices.
Now is the time to improve the process of project inception and implement a solution that will increase speed and agility, while at the same time enhancing project governance, a standardized approach to the management of processes and data.
Project Modeling enables you to do just that.
Adeaca invented Project Modeling as a natural extension of Project Business Automation (PBA), a comprehensive business system designed for project-based companies.
Download the Project Modeling Whitepaper to learn how to create a streamlined and controlled planning and estimating process for your company.
This is the first blog in the Project Modeling series. This blog will take a deep dive defining what is Project Modeling and how it works.
What is Project Modeling?
Knowing project success starts with sales, it is critical to create optimal project schedules and financial estimates right from the start.
Project Modeling is an entirely new approach to the sales and initiation phase of a project. It allows you to develop more accurate plans in less time, accelerate the sales process, and ultimately, drive better outcomes for your customers.
Similar to a product configurator for manufacturing, a project modeler builds the components (i.e. the tasks and costs) of a project from a predefined set of models. Project Modeling creates a streamlined planning and estimating process that enables project-based companies to scale and automate best practices from project sales through execution.
Any type of project can be modeled, whether it’s predominately labor, such as consulting and professional services, or involves a complex supply chain and production equipment, such as construction and ETO manufacturing. Regardless of what the output of the project is or the content of its structure, any type of project that a company performs repeatedly is a candidate for project modeling.
How Does Project Modeling Work?
Design a Model
A Project Model can represent an entire project or a set of tasks that are part of a project. Either way, you need to start with a project template. The template has a defined Cost Breakdown Structure (CBS) and corresponding Work Breakdown Structure (WBS).
From this template, the Project Modeler allows you to define the variable components of the project and setup the parameters that a user can select and define.
For example, a commercial HVAC contractor could allow a user to select from several different types of AC units as well as define the quantity of those units. Based on the type of units selected, the model could be setup to allow for the selection of various peripheral components that will be required. Each one of these components would then map to their associated costs and installation requirements, including labor and timeframes.
In essence, an organization could set up an entire library of Project Models that represent most of their projects using best practices. This allows project managers and salespeople to use the models to create projects quickly and within the guidelines set out by the company.
Using a Model
The user of a Project Modeler first selects a model for a new project, then configures the model’s components with the specifications for a particular project. The project plan and estimates are then constructed through a predefined system of rules. Next, the user answers a series of questions and the system creates the WBS and CBS automatically.
Let’s look at another example. An engineering firm can use Project Models for the different types of services they offer. The components of a geotechnical foundation design project can be selected and configured on-demand as the project manager builds the project, from the initial site survey to the delivery of the final design.
This allows salespeople in any type of Project Business to be able to respond to prospects with an accurate proposal quickly based on the Project Modeler output.
Revolutionize the Way You Build Projects
Essentially, the Project Modeler makes the best possible process in creating a project repeatable by anyone. As new best practices and guidelines emerge, the Project Modeler allows them to be easily captured and shared through the central model library. Think about it, if you can develop more accurate plans in less time and accelerate the sales process, wouldn’t you?
The next blog in this series will discuss explain the business benefits of Project Modeling.
Download the Project Business Automation Blueprint to learn more about creating a comprehensive business system for your Project Business.