Here’s the bad news: Research indicates that 80 percent of companies think they deliver “superior” customer service, but only 8 percent of customers agree that the same companies actually do.
The service industry is currently experiencing unprecedented levels of growth, and doesn’t show signs of letting up anytime soon. Why? The speed and complexity of business today have rendered traditional enterprise models inadequate. With rapid evolution in markets and competition, organizations must become continuously more lean and agile. External providers allow a business to tap into the right resources, at the right moment, in order to innovate and leverage new technologies at speed....
The services industry has an innately unique business model that does not offer tangible or manufactured products for profit. Instead, service organizations leverage their talented network of consultants and employees to provide time, skill, and expertise to an outside party.
Healthy margins are the most critical element of a successful services business. Every portfolio, client, and every single project, needs to turn a profit for your firm.
The holiday season is a scheduling headache for all businesses, but leaders in the services industry face unique challenges. It’s nearly impossible to complete projects efficiently, on-time, and on budget, if you do not have a handle on resource scheduling and capacity. During busy holiday periods, you have to schedule around company holidays and vacations, and overall availability drops. As a result, it's likely that your revenue will decrease, and your ability to deliver client work will...
I see more opportunity for businesses in the services sector than at any other time in my 30 years of experience in related industries. Economic forces are driving a tremendous amount of demand for a myriad of services.
Project managers need to closely monitor and evaluate how well their teams are achieving goals, hitting deadlines and delivering each project on time and on budget.
It’s inevitable. The most challenging aspect of project management is trying to define the specifications or, the scope of the project. A quality project scope defines all expectations from day one to completion—the deliverables, tasks, deadlines and required resources associated with the lifecycle of a project. Accurately determining scope is the biggest challenge for many organizations and can pose large risks if managed improperly.
Unless a project or task is something that you’ve repeated many times, estimating time can be daunting. Truth is, very few of us are 100 percent correct even with lots of experience. Contingencies change, conditions are altered, and budgets and schedules collide like opposing forces bent on making even the most exacting estimates wrong. Eliminating risk is impossible, but you can mitigate the impact of inaccurate time estimates on your budget by experimenting with these tips.