Performance bonds (e.g., surety bonds) have long been used by state and local government agencies to mitigate risk in major public sector IT projects.  A bond provides protection in case a software vendor doesn’t fulfill its contractual obligations. It also allows government agencies to demonstrate fiduciary responsibility with taxpayer funds.

Implementing a new pension administration system can be one of the most significant investments a retirement plan ever makes. Between consulting fees, software licensing, training, and support, there are a multitude of factors that will impact the price tag of a system replacement project. With retirement funds under increasing pressure to do more with less, it is absolutely essential that plan administrators make smart choices in IT investment. This means thoroughly understanding the goals of the project, communicating clearly the expectations of the new system, and being realistic about the constraints in your resources. For those considering IT modernization, take in mind that the following factors will impact the cost of your project. 

In a recent article on project management from FOXBusiness, contributor Michael Woodward spoke about the “growing field” of project management with Mr. Mark Langley, CEO of the Project Management Institute (PMI). In the article, Langley helps Woodward draw the connection between project management and the increasing need for “internal innovation” in today’s challenging business climate. He also identifies the following three key attributes of a successful project manager.  

In a previous post, I talked about the benefits of Joint Application Design (JAD) sessions. In case you missed it, or you are unfamiliar with the concept, a JAD session is a workshop in which multiple project members collaborate to outline the development of a software system. Typically, a JAD is lead by a single person given the important responsibility of being the “Facilitator.” In today’s post, I’ll offer a few suggestions that will help you JAD Facilitators out there lead a successful session. These are some of the very same practices used to great success by our own Sagitec delivery teams.

If you’re looking ahead to a future IT project, or are undertaking one presently, chances are you’ll be involved in a Joint Application Design session (or JAD, for short). A JAD is a structured, facilitated workshop in which multiple teams of stakeholders (e.g., the IT vendor and customer) collaborate to discuss the development of the desired system, producing deliverables and tracing RFP requirements to business rules. (If you’re not too familiar with the concept, a quick internet search will net you a smorgasbord of information.)

Like all stakeholders in today’s turbulent pension industry, educators are doing their best to navigate a perfect storm of challenges. With incoming waves of new retirees, sweeping legislative reforms, and large-scale IT replacement projects for a modern pension administration software solution with a web portal looming over pension funds, the need for effective education has never been greater. This is both good and bad news for the educator. On one hand, it means their skills have never been more necessary. On the other, it means the pressure to deliver is on.

Last week I stumbled across an interesting article on the web that helps us answer the question as to why IT projects fail. Citing long-standing research performed by the Standish Group, the article provides a list of reasons given during a survey of some 365 different organizations. These are listed in the table below: