Project Management

Enterprise Project Management Simplified

Mindaugas Gluchovskis ·

2019 - Present Marketing specialist Innovative content marketeer with MSc in International Communication, Mindaugas brings fresh ideas and inspiration about project management and beyond.

enterprise project management

Succeeding as an organization takes more than just nailing projects. This is especially true as your company grows.  

Large organizations handling multiple projects can ramp up their project management to enterprise level with enterprise project management (EPM). 

Today, I’ll explain how EPM provides a framework, unifies project planning, optimizes resource allocation, and eliminates potential hazards. Let’s look at how EPM can transform your project management approach. 

What is enterprise project management? 

EPM is about handling multiple complex projects simultaneously within a large organization. It aims to align the company’s goals with its ongoing projects, ensuring resources are used effectively and managing the connections between projects so everything gets done on time and within budget. 

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Kanban enterprise project management

Initially, project management was primarily about individual project execution. However, as organizations grew larger and projects became more complex and interconnected, a more holistic approach became necessary. EPM emerged as a solution to this challenge.  

Today, the rise of digital tools and platforms has further propelled EPM’s growth. According to market trends, the global EPM market is on the rise, expected to grow from $6.8 billion in 2023 to $11.5 billion by 2030, with a CAGR of 7.8%. This means more and more companies are recognizing the value of EPM, making it an essential strategy for staying competitive. 

Differences between EPM and traditional project management 

Project management focuses on individual projects, while EPM takes a broader approach. Traditional project management is about delivering a single project on time, within scope, and on budget. In contrast, EPM involves managing a portfolio of projects. It makes sure projects align with goals.  

Using an Enterprise Project Management tool to align projects with the company’s Objectives and Key Results (OKRs) helps maintain focus across all teams and departments. 

Also, EPM requires more coordination and strategic planning. It also needs tools that show the progress and links between many projects. 

kanban time tracking

The 7 elements of enterprise project management 

The PMI approach consists of the seven essential principles that underpin effective EPM, providing a roadmap for success in managing complex initiatives. Here are the seven key components: 

  • Risk Management – Identifying, assessing, and managing risks across the project portfolio to minimize disruptions and ensure project success. This involves implementing risk management processes and mitigation strategies at an enterprise-wide scale. 
  • Project Estimation – Providing accurate timelines, resource requirements, and budget estimates using structured methodologies and tools. The EPM office establishes guidelines and approaches for project estimation that project managers must adhere to. 
  • Project Reviews – Regularly assessing project status, progress, and performance to make data-driven decisions and ensure projects stay on track. The EPM office conducts periodic project reviews to evaluate metrics and address issues such as scope creep. 
  • Project Management Support – Training and mentoring project managers to cultivate a strong, skilled, and cohesive project management team. This includes onboarding, professional development, and training on new methodologies and tools. 
  • Issue Resolution – Swiftly addressing significant project issues with authority and cross-functional support. The EPM office serves as a decision-making body and mediator for complex issues that individual project managers cannot resolve. 
  • Time Management – Ensuring precise time tracking and reporting for efficient resource utilization and project scheduling. The EPM office develops and implements time tracking systems to gather data and analyze resource allocation across the portfolio. 
  • Enterprise Project Management Software – Using EPM software as a central platform for managing, monitoring, and reporting on all projects. The EPM office is responsible for selecting, implementing, and maintaining the enterprise-wide project management information system. 

Focusing on these seven components helps ensure projects are aligned with goals. It also helps ensure risks are managed and project performance is improved. 

The benefits of enterprise project management 

EPM is about making projects simpler and better for the whole organization. Let’s break down the benefits in simple terms! 

1. Consistent project planning 

Ever wish your projects were a bit more organized? EPM helps set up standard planning methods, which means everyone uses the same methods to estimate timelines, budgets, and resources.  

2. Boosted efficiency 

Imagine cutting out all the unnecessary steps in your projects. EPM does just that. By removing extra steps and simplifying processes, your team can work better. Sharing what they’ve learned helps achieve this. 

3. Better resource utilization 

Have you ever had too many people working on one project? Meanwhile, another project is short-staffed? EPM ensures that the right people are working on the right tasks at the right time. It’s like having a resource traffic controller. 

4. Minimized risks 

Every project has risks. However, EPM has tools and practices to find and reduce these risks early. 

5. Enhanced communication 

Keeping everyone in the loop can be challenging, but EPM makes it more accessible. Give regular reports. Include dashboards and updates. They will keep everyone, from executives to team members, informed about each project. No more surprises! 

Picture your company launching a new software system. With EPM, you start with a clear plan: how long each phase will take, its costs, and who does what. You keep everyone updated throughout and quickly address any problems that pop up. 

In short, EPM isn’t just about managing projects. It’s about improving the performance of the whole organization. 

How to implement enterprise project management 

Implementing enterprise project management (EPM) can feel overwhelming at first. But the rewards are worth it. To start, define how EPM will tackle your organization’s unique challenges. Assess your current project management setup and set clear goals for EPM. 

Involve stakeholders at all levels, including executives and project teams. Get their support and input, and show them how EPM can benefit everyone involved. 

Cisco, a top technology firm, adopted a collaborative approach for deploying its EPM system. The IT department collaborated closely with business unit leaders to tailor the system to meet their specific needs. This ensured alignment with strategic goals and garnered broad acceptance from end-users. 

Next, implement your plan by establishing EPM processes, tools, and governance. This might mean creating a central project office that would standardize methods and add project software to all teams. 

Teamhood Kanban tool
Teamhood enterprise project management tool

Remember, EPM is a journey, not a one-time event. Continuously monitor and refine your approach. Set up performance metrics to gauge success and pinpoint areas for enhancement. 

Schneider Electric, a global leader in energy management, integrated a robust EPM system. This included a centralized PMO, standardized project practices, and a unified project portfolio management platform. These changes provided visibility into their $3 billion annual project spend, optimized resource allocation, and boosted project delivery worldwide. 

While effective project management is essential for large enterprise initiatives, many organizations struggle with planning, scoping, and executing projects effectively. Having skilled PMs who communicate well and focus on delivery is key to success. 

Common project management methods in EPM 

In enterprise project management, handling many complex projects in large organizations requires using effective methods. These include Agile, Waterfall, and hybrids. 

Methodology Benefits Drawbacks 
Agile Suited for changing requirements Requires strong team coordination 
 Rapid delivery of incremental value High collaboration needed 
Waterfall Clear structure and predictability Less flexible to changes 
 Well-defined milestones and phases  
Hybrid Balances flexibility and structure Requires effort to integrate and maintain 
 Adaptable to varying project needs Complexity in implementation 

Agile Methodology focuses on flexibility and collaboration through iterative development. Projects are split into iterations to deliver incremental improvements. It suits projects with changing requirements. This was seen at Spotify. There, “Squads, Tribes, Chapters, and Guilds” foster autonomy that is aligned with company goals. 

Waterfall follows a sequential approach. It divides a project into clear, sequential phases, with each one needing to be completed before the next can start. This method works wonders for projects with stable requirements. It also ensures that teams coordinate well. 

Hybrid Methodologies combine Agile’s adaptability with Waterfall’s structured phases. They are ideal for projects that need predictability and responsiveness. Booz Allen Hamilton’s use of Agile and Waterfall blends these benefits to effectively meet client needs. 

But as seen in the table, each method has benefits and drawbacks.

Agile supports change but demands strong team coordination. Waterfall provides structure but is less flexible. Hybrids balance these traits but require careful implementation. 

Choosing the right methodology depends on project complexity, stakeholder needs, and organizational culture. Customizing approaches boost project success, raise stakeholder satisfaction, and drive business success in EPM. 

Successful implementation of enterprise project management 

Making the switch to Enterprise Project Management (EPM) is a big deal for any company. Sure, it might mean some restructuring. It’s worth it in the end because you’ll be way better at managing projects. 

When you’re defining new project management processes, don’t forget to use EPM tools like  Kanban project management software. These tools can make your project planning and reporting a much more effective. 

Managing projects across the entire company can be a lot of work, though. Read our guide on how to successfully manage multiple client projects. This will make your life a bit easier! 

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