A new comprehensive metric for project management
As the environment in which a project has to be managed becomes uncertain and unpredictable, it becomes necessary, if not mandatory to measure, manage and control that complexity.
Project or portfolio management has never been easy, with the dynamism, volatility, frequently changing scope, objectives, priorities, resource allocation, etc. With such volatility, even simple to manage projects defy static or predefined metrics, methodologies and best practices.
As the environment in which a project has to managed becomes uncertain and unpredictable, it becomes necessary, if not mandatory to measure, manage and control the complexity of a project.
Beyond best-practices, management and governance project, program and portfolio managers are responsible for business change initiatives and can no longer ignore complexity as part of their success or failures.
Complexity is an implicit characteristic; a key variable allowing handling and managing initiatives at all levels in order achieve the objectives in time, within the defined budget without quality depreciation.
Complexity is a significant benefit within environments dominated by uncertainty, highly interconnected and interdependent with a strong presence of contingency and discontinuity in priorities that could break the communication flux in a structured environment.
Projects, programs or portfolio initiatives can no longer be managed through existing metrics without considering complexity.
This white-paper provides a new way of measuring the complexity for every project as well as a case study to explain the benefits and is a must read for everyone managing projects in today's busy world.
About the Authors
Dr Jacek Marcyk is the founder of Ontonix and holds an MS in Aeronautics Engineering (Politecnico di Milano), MS in Aerospace Engineering (Politecnico di Torino) and a Ph.D in Civil Engineering (Universidad Politecnica de Catalunya).
He has introduced and pioneered innovative methodologies for uncertainty and complexity management publishing seven books on stochastics, nonlinear mechanics and complexity management.
Ontonix is the world's first company to develop and market a software system for quantitative complexity management. Established originally in 2005 in the USA, Ontonix is headquartered in Como, Italy, and developed OntoSpaceTM, the world's first system which allows one to measure and manage the complexity of a business.
Giuseppe Graci, Director of Finance & Banking, has more than thirty years in advising and supporting Business Managers to reach their business objectives through the right deployment of technologies and management of complexity of their business and respective environments. He has worked for leading research companies such as Gartner, where he held a VP position, and for management consulting firms Nolan & Norton and KMPG. He has broad international experience, having operated at board level of major financial institutions in Italy, Spain and Portugal and in other global corporations.
Giuseppe is a thought leader and innovator with strong emphasis on result-oriented decision-making.
His background is economics with strong Information Technologies-related know-how in Financial Services. He has recently published a book on managing and governing complexity.
Dr. Deshpande has 15 years of experience in the biomedical, automotive and consulting areas. He holds an MS in Mechanical Engineering (University of Utah), an MBA (University of Michigan) and a Ph.D. in Bioengineering (Carnegie Mellon University). Before joining Ontonix, he was involved in engineering consulting at EASi and automotive product development at Ford Motor Company.
David MARTIN, Chairman of the World Complexity Forum, having operated at the executive level in various companies, including software development, business development, department and company management with the operational experience required to develop the activities within different business models. With over fifteen years of experience in the Banking and Services sector, in aligning Information Technology with business requirements and demands by creating solutions through the establishment of proper IT projects.