Center of Excellence – Project Quality Management

Software selections and implementations are high profile projects driven by important business needs which have, based on their nature to combine people from different knowledge areas and with different interests, a relatively high risk of failure (e.g. GARTNER Survey from June 2012 states about 25% failure rate for midsize IT projects).

Based on our long standing in-depth experience with such projects, FERDEC has developed a Project Quality Management approach targeting on the crucial factors for successful project delivery: business scope, implementation quality, budget and time frame.


There are multiple factors which can make a software selection and implementation project very challen¬ging. The following factors have been proven to have the biggest impact on the success of such a project:

  • Defining the business scope for both system selection and processes to be implemented
    Business user are usually engaged in daily operations and lack the time for an intensive project preparation and involvement. In addition, business users often have no experience with software selection / implementation processes and their chances and challenges.
  • Selecting the best product for the defined scope and the best implementer
    The strategic vendor interests may lead to an intransparent product and process presentation (“overselling”) where vendor or product deficits are not clearly visible.
  • Correct modelling and implementation of the defined scope
    There is a high risk of suboptimal processing of business requirements into deliver¬ables – this can be based on miscommunication between business user and vendor and/or implementer as well as on the conflict of interest between both parties in fixed price projects.

The FERDEC Approach

To ensure successful projects, FERDEC has extended the typical project management approach by adding a content focused Project Quality Management. Our approach is based on our extensive experience in delivering software implementation projects in the realm of Energy Trading and Risk Management. We have developed the necessary tools and best practices for project setup, monitoring and controlling. Additionally, we assure excellent solution design and delivery quality with focus on cross-functional business and IT processes. We can do this because our experts have an excellent in-depth energy trading and risk management (ETRM) business knowledge as well as long standing experience in ETRM implementation projects – we understand your business requirements, support the shaping of the project scope and evaluate the proposed solution concepts while emphazising on quality and budget.

Key Elements of the FERDEC Approach

Work with business users to define a clear and realistic scope which differentiates between vendor / product selection on the one side and implementation requirements on the other side: product selection shall be based on long term planning and security of investment but imple-mentation scope needs to be focused on current business needs

Business competence to work with and to challenge business users to ensure a clear, focused and timely requirements definition – translate requirements into the “vendor language”

IT and software competence to work with and to challenge vendor to uncover potential deficiency and asses eventual customization effort (project and post-project impact) in an early stage of the selection / implementation – identify key risks upfront and manage them before they materialize

Work with business users and vendor to ensure a clearly documented definition of scope, deliver-ables, communication channels and project structure

Define appropriate milestones as well as enforce clear and transparent entry/exit criteria for each stage of the project – the goal is to have a realistic time plan with milestones and criteria understood and accepted by business users and vendor upfront to ensure a timely implementation

Continuous quality assurance (planned and delivered scope content and timeframe) throughout the entire project life cycle and early integration of “lessons learned” from preceding phases including strict escalation management

Energy Risk Software Rankings 2018, Top 5 Vendor Trade Surveillance Solutions

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