A critical success factor for companies worldwide
Strictly put, demand management is concerned with the processes organizations have internally to collect new ideas, supervise projects and needs to manage their portfolio. Components involved include projects, programs, & activities from previous and ongoing projects.
With the complexity that these components present, organizations might face challenges like:
- Insufficient insights about demands’ route
- Inability to properly estimate efforts
- Communication gaps
- Poor team collaboration
- Poor visibility over projects’ health
“Successful outcomes are a reflection of policies and programs to influence demand.”
Effective demand management requires following the concept of a closed loop, where feedback from outcomes of planning is fed back into the process to improve predictability. This enables organizations to be more proactive to anticipated demand, and more reactive to unanticipated demand in their projects.
How exactly can we translate this digitally into the project demand management cycle?
**THE KEY **
The key is to have all demands centralized in a single comprehensive system. What organizations need is a system that provides them with a seamless user journey, informative updates, and a more interactive, collaborative process. This eliminates redundant efforts and provides stakeholders with a clearer picture of what’s on the horizon.
StemeXe for Project Demand Management provides an integrated one-stop shop platform that bridges the gap between demand and final delivery. It provides:
- Discovery: connect with internal & external stakeholders
- Education: build project categories & store all valuable information & priorities
- Automation: build & automate all your processes
- Engagement: assign activities, delegate tasks, & interact with your team
- Visibility: view & review projects’ health anytime, anywhere
To recap, your organization needs a vision to describe the future it wants to create and an overall strategy to produce it. Next, it needs project demand management governed by a digital platform to manage its business portfolio in terms of planning new projects or assessing ongoing ones. Finally, it requires a good reporting system that not only accounts for the status of 1 project, but the status of the whole portfolio to drive insightful decisions and uncover progress towards achieving strategic objectives.
Benefit your organization now! (before its too late)