A Guide To Profitably Winning And Delivering Projects For Project-Based Businesses
Project Firms Need Integrated Project Life-Cycle Management To Thrive.
Project firms, ranging from government contractors to professional services providers, manage a cycle of activities. This cycle includes identifying and winning projects; assembling the team skills and materials the project firms need to complete projects for revenue; and billing according to agreed upon terms, while tracking project, program, and resource profitability.
Streamlined competence across the bidding, project execution, accounting, and billing life cycle is critical to a project firm’s success. Yet the ballast of multiple point solutions constrains many from making headway in winning and delivering complex engagements in the teeth of a gale of competition, combined with a wave of skills shortages and a squall of revenue and earnings recognition regulations.
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