COVID-19: Will your projects deliver the expected benefits?

The framework also applies to the current COVID-19 crisis and the challenges it brings to ongoing projects.

PwC’s recent COVID-19 webinar ‘Project and portfolio management - Which projects do I pursue during the COVID-19 crisis?’ outlined steps companies can take to make the right decisions to ensure that the projects they go ahead with are those that will help weather the current crisis and/or secure their competitive position. Watch the replay of the webinar here.  

Once project priorities have been established, the challenge shifts to keeping those projects on track. How do organisations make sure that projects deliver the expected benefits within a reasonable timeframe?

To overcome this hurdle, PwC developed a specific methodology to evaluate projects and programmes, with a focus on each domain that’s key to successful project implementation. These are the ‘12 Elements of Project Success’ and are applicable to any type of project your organisation might undertake, whether it’s a digital transformation initiative, setting up business continuity planning, redesigning the workplace infrastructure or shifting production to a nearshore site. 

The framework also applies to the current COVID-19 crisis and the challenges it brings to ongoing projects.

12 Elements of Project Success

The 12 Elements of Project Success in the COVID-19 crisis

Clearly outline the benefits of the project and when they will be realised.

Establish frequent (e.g. weekly) risk management meetings to help identify and address emerging risks.

Ensure your organisation has sufficient cash to fund prioritised projects.

Implement active resource management processes to understand supply and demand.

Ensure a single source of truth for documentation and assign a ‘gatekeeper’.

Be prepared for a potential second wave of the virus and lockdown scenarios.

Align your way of working with your suppliers and ensure they don’t impose restriction on their employees.

Build and maintain team spirit, efficiency and collaboration via regular (virtual) meetings and activities.

Create an environment of continuous improvement by empowering teams.

Re-align the project scope to your redefined portfolio structure.

Ensure to regularly connect with the different stakeholders.

Clearly define and communicate decision-making criteria to enable smaller decisions to be made.

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Once the project prioritisation phase is complete, organisations that adhere to the 12 Elements of Project Success increase the likelihood that projects will stay on track and deliver the expected benefits, through the COVID-19 crisis and beyond. 

For more information on how to maximise project success, don’t hesitate to contact us.

Contact us

Wim Rymen

Wim Rymen

Partner, PwC Belgium

Tel: +32 47 326 9227

Connect with PwC Belgium