Deliver Product Development Projects On-Time and On-Budget
Many product development companies face pressures from having too many projects for available resources. Failing to use existing resources efficiently strains personnel and costs, and can ultimately delay a product’s release to market, creating additional financial and business burdens. PTC’s Mark Field addresses the challenges companies face when executing product development projects.
Companies are under increased pressure to deliver products on time with limited resources. Too often, available resources are strained due to poor project portfolio planning and inefficient project execution. The result is over-budget projects that miss deadlines, further burdening both personnel and costs.
With the PTC Project Management solution, companies can improve project scheduling and execution, helping resources work more efficiently to deliver product development projects on time and improve overall time-to-market.
This solution can help project managers:
- Schedule projects to meet key milestones and produce critical deliverables
- Automate execution of product development projects and delivery of resource assignments
- Track performance of projects against timelines, cost targets, and requirements
Improving resource efficiency
The PTC Project Management solution helps companies schedule resources and monitor performance to ensure both deadlines and project requirements are met. By scheduling projects around key deliverables and critical milestones, project managers can more efficiently schedule activities and assign resources. Automated project execution ensures timely communication across distributed teams by automatically updating schedules and delivering resource assignments as each critical deadline is met.
Tools to track performance ensure that a project’s progress is measured against KPIs, resource utilization goals, and the completion of critical tasks and deliverables, allowing project managers to monitor and adjust scheduling, budgets, or resource allocations to continue meeting project objectives.
With the PTC Project Management solution, companies can implement a standardized, efficient process to manage projects and enhance communication among product teams. These methods can:
- Increase Project ROI by 28%1
- Help companies complete 26% more projects on time or early1
- Reduce the median cost of a project by up to 75%2
1Aberdeen Group, 2ProjectSmart