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To gain a competitive advantage, many companies are undertaking an unprecedented amount of organizational change. While the benefits of complex transformation can be great, they’re not without significant risks and not all companies achieve expected outcomes. Failure to manage the inherent risks successfully can have many adverse consequences, including operational, reputational and financial impacts.
Despite the high stakes, these projects continue to struggle. Most independent research suggests typical IT project failure rates between 30% and 50% – a problem that’s gaining growing attention from boards, C-suite executives and Internal Audit. All these groups are coming to recognize the risks posed by large IT initiatives. They want answers to such questions as:
The value of transformation assurance
PwC’s Transformation Assurance team helps companies focus on the key business outcomes of their transformation in order to identify the risks that matter most throughout the project lifecycle. In addition to traditional project management, our teams specialize in Agile, DevOps, Cloud (including SAP S/4), Analytics, and Revenue Recognition.
As we’ve done with many clients, PwC can work with you throughout your transformational journeys so that you can reap the intended benefits of your complex transformation.
As companies act to respond forcefully to the COVID-19 crisis, strategic priorities are changing. A revised corporate focus, new financial constraints and workforce redeployment are obliging companies to adjust their project portfolios. Some projects must be stopped, some paused, some adapted and some accelerated.
Consider these four steps to assess, reprioritize and effectively deliver the project portfolio that your company needs in a COVID-19 world.
Principal, Risk and Regulatory, PwC US