The Capital Program Management (CPM) Wars...
A Pragmatic Perspective What's the "Killer Arsenal".... The Silver Bullet, The Best of Breed, or is there an Alternative?
Some would argue that the killer IT arsenal is the collection of "Best of Breed" solutions.Others would argue that what is needed is the "Silver Bullet" solution … the single application that does it all. For the sake of Reality, let's do something really radical. Let's look at this question from a pragmatic, or even worse, (dare we say it), a "common sense" approach. I always liked the "common sense" approach to things, ever since my father told me to… "You have about as much common sense as…" but that's another story. At any rate, let's examine these solutions in terms of the environment they must exist in, the needs and objectives to be met, and the strengths and weaknesses of each, all with an eye toward determining the most effective arsenal to successfully conduct the CPM wars. Are these or should these be the weapons of choice? Is there an alternative?
First, make no mistake, defining and getting approval (including funding) for the Optimal Capital Program, and ultimately managing that Capital Program throughout its lifecycle is a "War". When one considers the complexity of the process, the number of diverse "stake holders", the broad spectrum of information and data required and their diverse sources, the funding constraints, the dynamics or to be more precise the unstable economic and social conditions defining the overall environment that these Capital Programs are meant to address; to categorize Capital Program Management (CPM) as anything but a "War" is not giving it its due. CPM requires an arsenal of tools capable of addressing the Financial, Portfolio, Project, and Planning elements of a Capital Program(s).
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