BRIDGE Energy Group Survey uncovers that an overwhelming number of Utilities are experiencing significant budget and schedule overruns, yet rate their PMO skills as good to excellent
MARLBOROUGH, Mass., September 22, 2014 — BRIDGE Energy Group, a leading consulting and systems integration company focused on improving utility operational performance, today announced the results from their latest Utility industry survey on program management and change management. Over 18,000 utility employees were surveyed about their views, experiences, challenges and solutions related to program management. The most surprising results uncovered as part of the survey shows that despite respondents rating their existing program management office (PMO) skills as good to excellent, 66% of projects were rated as significantly over budget and/or behind schedule. This paradox raises the question as to whether quantitative or qualitative metrics are defining the performance of today’s PMOs.
“With the number of projects and their cross-functional complexity on the rise, it will be even more challenging for utilities to deliver projects on time and on budget,” said Michelle Fay, Vice President of Consulting Services for BRIDGE Energy Group. “Experienced leadership in Program Management and Governance across the entire lifecycle of a project with clearly defined performance management metrics that are regularly and consistently tracked and monitored is what ensures projects remain on time, on budget and meet objectives.”
In addition to insights on program management, two interesting conclusions were formulated on the topic of change management. Based on data from the survey, only a minority of utilities incorporate change management into their projects. Of those that have, a significant majority, 77%, found it to be very beneficial.
“Many projects don’t think about change management until very late in the process,” said Ms. Fay. “Incorporating change management from day one and combining this with disciplined approach to program management is key to ensuring that the needed operational changes are propagated and implemented by the broader organization, significantly increasing the probability of a project’s success.”
The survey’s results further supports the conclusion that utilities have a growing need to merge the adoption of non-utility best practices with industry knowledgeable experts in order to improve the predictability and success of their projects, regardless of size and scope.
For a copy of the survey results contact BRIDGE Energy Group at Research@BridgeEnergyGroup.com.