The future of project and program assurance rests on total solution unification.
For too long project management, knowledge management, and quality assurance have been treated as separate entities. This approach has worked in the past, but changes to legislation, compliance, and the digital landscape have made this unsustainable for regulated sectors, such as construction-engineering and consultancy.
Adding to these challenges, organisations are under more scrutiny after events such as Grenfell tower, which inspired regulatory change such as the introduction of the digital golden thread. Transitions of this nature highlight the need to introduce a singular understanding of truth in regulatory processes and make overarching assurance even more important.
Monitoring all your processes and requirements discretely only increases the risk of problems going unnoticed. Without holistic visibility, the overall outcomes of a project can’t be guaranteed. Connecting these practices is therefore not just beneficial, but fundamental, to achieving true assurance.
While project management tools give their users a basic grasp on these issues, they don’t put them into context with one another.
In response, organisations are using multiple solutions, like knowledge management and task management, simultaneously, in the hopes of achieving a richer and more balanced approach to assurance.
Project and knowledge management concepts are becoming intertwined and are equally being propelled by market demand – showing a clear trajectory for growth and development.
The knowledge management market is projected to grow
at a CAGR of 19.8%, from $381.5 billion to $1.1 Trillion in 2026, while the
project management market growth trajectory was estimated at 9.9% – Global News Wire
Yet this still doesn’t solve the initial problem – disparity. As the market continues to grow, organisations need a single, truly connected solution that supports all aspects of assurance – from planning, to operations, to quality, to delivery.
This gives them more than just the right tools for the job. It delivers them in a way that creates a framework to connect your processes, people, and knowledge, to eliminate silos, reduce risk, and ensure consistent ways of working for all projects.
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