PM Solutions

PM Solutions provides project management consulting, training, and resources to help organizations improve performance and deliver critical projects successfully. 

Project Management Solutions News Archive 2006

New Project Review & Recovery Services from PM Solutions


Standardized review and recovery process can help companies save millions

HAVERTOWN, PA (May 3, 2006) – PM Solutions, the leading provider of project management consulting, training, and research, has formally launched its Project Review & Recovery services to help organizations mitigate the substantial financial losses associated with troubled projects and project failures.

New research shows that over the next twelve months, organizations that average closing $65 million worth of projects will see $30 million of those projects at risk of failing (Center for Business Practices, Troubled Projects: Project Failure or Project Recovery, April 2006). Companies without a standard review and recovery process will recover only 37% of these troubled projects successfully.

With so much at stake, early detection and action are key to averting project failure in the first place. PM Solutions developed its Project Review & Recovery services based on years of working with clients to understand the root causes of troubled projects and develop a proven approach to successfully turn projects around. Specific service components include:

  • Troubled Project Identification
    PM Solutions helps organizations design and implement a standard Project Review & Recovery Process to monitor their portfolio of projects and identify projects for review and possible intervention. This process typically resides within the organization's project management office (PMO).
  • Project Recovery & Turnaround
    At the project level, PM Solutions' project turnaround experts help develop and implement a Project Recovery Plan to quickly get the project back on track.
  • Performance Improvement: Institutionalizing Lessons Learned
    As a project concludes, valuable lessons learned are often captured but rarely acted upon. Longer term, these lessons learned could have significant impact on the outcomes of future projects if they are filtered back into the organization's standard processes. PM Solutions helps organizations establish and maintain the actions around capturing, evaluating, and institutionalizing lessons learned that will improve performance across all projects.

"Troubled projects plague organizations of all sizes," said Patrick Sepate, PMP, director of practices for PM Solutions. "But troubled projects don't have to spell disaster. If they are identified and addressed early in a project's life cycle, the odds of success significantly increase. Our Project Review & Recovery services combine a proven identification and recovery methodology with the talents of turnaround experts who are specially trained to implement a project recovery plan in both mentoring and leadership capacities. The result is immediate, dedicated focus on project turnaround – and fewer financial losses."

About PM Solutions
PM Solutions is a management consulting, training, and research firm dedicated to helping companies optimize business performance and successfully execute their strategies through project management improvement initiatives. Core services include on-demand project and program staffing, remote project controls support, project portfolio management, organizational project management maturity assessments, process and methodology development, project office deployment and enhancement, value measurement, project review and recovery, and corporate training delivered through the PM College® (www.pmcollege.com). Headquartered near Philadelphia, Pa., USA, PM Solutions' diverse client roster includes some of the world's leading organizations.