According to The Standish Group, only 29 percent of IT projects are completed successfully. Project management consultants and software providers are of the opinion that they see IT departments making the same project management mistakes over and over: IT groups don't follow standard project management processes. They don't have the right staff working on projects. They don't assess the risks that could imperil their projects or determine ways to mitigate those risks.

Most of the project management mistakes IT departments make boil down to either a lack of adequate planning or breakdowns in communication (either among the project team or between the project team and the project sponsors). These mistakes can be fatal. They can also be avoided.

The upside of avoiding these most common project management pitfalls is tremendous. Not only will the success rate of projects increase but the overall business will benefit from systems that make them more competitive that get delivered on time and on budget.

Performance Management
A fundamental requisite for any organization is to manage risk and monitor performance of various entities like project, geography, resource, verticals along with performance of the entire organization. There is a need for a greater real time visibility to monitor and to ensure the delivery schedules, cost arbitrage, quality, etc for global operations. With an increasing focus on the customers, the organizations are vying to retain and enhance customer experience and loyalty. It is becoming mandatory to manage performances in time to ensure product & service quality and customer satisfaction.

Risk Management
Risk management is a process of identifying, assessing, and controlling uncertain events that may adversely affect a business and its resources. An example of uncertainty could be when a business falls short of expectations in terms of schedule and there is a slippage during the course of a project. At such  a time, risk  management  can  determine  the  impact  of  the  difference  between  expected  and actual  results.  In addition, risk management can aid in the evaluation and selection of one of several mitigation plans. Mitigation plans are designed to eliminate or minimize the impact of the shortfall and steer events back on track.

Compliance Management
Compliance is the process that records and monitors the policies, procedures and controls needed to enable compliance with governmental, legal, regulatory, legislative or industry mandates as well as internal policies. Procon has built-in modules to support compliance for/with CMMi and SEBI’s Clause 49 standards.

Why Procon
As a performance, risk and compliance management solution for global delivery, Procon allows:

1. Enables the navigation from an overview for the Organization down to performance details for a collection of business entities (like projects to programs to Geos etc), an individual project, and an individual task and resource.
2. Organizational development by reducing gap between actual results and desired results.
3. Provides trending therefore prediction in performance at any indicator level.
4. Comparisons between sub measures within KPIs and across different business entities.
5. Assessing risk factors – qualitative and quantitative outputs
6. Risks treatment solutions – avoid, mitigate, transfer & retention of risks
7. Helping Organization in the global statutory/regulatory compliances.
8. Compliance level displays – through alerts on real time
9. Maintenance of legal documentations – by uploading necessary files and documents relevant to the entity
10. Auto escalation process for better management of all compliances.
11. Real time alerts on thresholds set by a stakeholder helps is timely management on slippages.