by Michelle L.Robertson
Introduction
    Today’s IT organizations are coming under increased scrutiny to cut costs and show value to both the corporation and the business units they support. Tighter budgets, with scarce resources and mounting project requests, require
executives to view all projects in context of the overall business strategy.
    Unfortunately, just optimizing the project portfolio is not sufficient. According to Standish Group, approximately 74 percent (Figure 1) of all IT projects deployed in 1998 had either failed or was challenged to meet the target budget, scope and/or timeframe. This outcome is often due to deficiencies in overall project management.
    Project failures account for approximately $100 billion per annum in wasted capital. If this yearly resource drain was instead stated as a company’s annual revenue, that company would rank in the upper half of the Fortune 500.1
    To ensure that projects and resources are strategically aligned and perform at or ahead of plan, today’s CIOs must have enterprise-wide visibility across all projects. Viewing projects individually will not provide the insight necessary for strategic alignment, resolving cross-project resource conflicts and cost containment.
    Enterprise Project Management (EPM) provides this enterprise-wide visibility into projects, processes and resources. It enables CIOs to proactively optimize the project portfolio, identify over-extended resources, improve project management practices, manage risks and ultimately maximize strategic alignment.......

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