In today’s dynamic educational landscape, aligning short-term projects with long-term institutional goals can be complex. Higher education institutions require a strategic portfolio management framework to effectively coordinate their projects, investments, and resources with their overall mission and strategy.
ServiceNow Strategic Portfolio Management (SPM) can help higher education institutions consolidate their most critical priorities on a unified platform. Let’s explore four ways SPM can streamline operations and reduce costs.
1. Optimize Project Delivery with a Hybrid Approach
Many educational institutions are adopting hybrid and agile project delivery methods to address the evolving needs of students and faculty. However, these methods are often only implemented at the project execution level. A comprehensive hybrid approach that integrates both Waterfall and Agile methodologies throughout the project lifecycle can yield better outcomes.
By leveraging ServiceNow SPM, institutions can effectively manage and execute projects using a hybrid methodology, ensuring flexibility and responsiveness. This approach can lead to more efficient project completion, ultimately reducing costs and improving service delivery.
2. Align Projects with Institutional Goals
Ensuring that projects align with institutional objectives is crucial for maximizing investments and achieving long-term success. ServiceNow SPM provides higher education institutions with the visibility needed to assess the relevance and impact of each project. This enables informed decision-making regarding project prioritization.
By aligning projects with strategic goals, institutions can consolidate resources and respond swiftly to changing needs. This alignment fosters a cohesive environment where every project contributes to the broader mission, leading to cost savings and enhanced institutional effectiveness.
3. Enhance Financial Management
Effective financial management is essential for higher education institutions to sustain their operations and growth. ServiceNow SPM facilitates better financial oversight by offering tools to monitor spending, compare investment scenarios, and plan budgets. This comprehensive financial management capability helps institutions ensure funds are allocated to projects delivering the highest value.
Through improved financial management, institutions can optimize their spending, enhance agility, drive digital transformation, and engage in value stream management, resulting in significant cost savings and operational efficiency.
4. Empower Faculty and Staff
At the heart of any educational institution are its faculty and staff. Achieving optimal outcomes requires all employees to align with the institution’s overarching goals. ServiceNow SPM, when used in conjunction with Strategic Planning, connects business priorities with the workforce, fostering a unified effort towards common objectives.
This alignment empowers faculty and staff, enhancing their ability to contribute effectively to institutional goals. By promoting collaboration and ensuring that everyone is working towards the same vision, institutions can improve their success rates, reduce redundancies, and achieve cost efficiencies.
ServiceNow SPM offers higher education institutions a powerful toolset to manage projects, align resources, enhance financial oversight, and empower their workforce. By adopting these practices, institutions can streamline their operations, reduce costs, and ultimately achieve their strategic goals more effectively.
Discover how we can help you transform your institution’s project management and drive cost savings with ServiceNow’s SPM.
About GlideFast Consulting, A Division of Apex Systems
GlideFast Consulting is an Elite ServiceNow Partner that specializes in delivering exceptional solutions on the ServiceNow platform. We pride ourselves on offering industry-leading services, unparalleled expertise, and a track record of positive customer reviews. Our extensive experience in ServiceNow, combined with our unwavering commitment to customer success, sets us apart from our competitors and enables us to deliver successful outcomes for every client. Whether it's our deep platform knowledge, process-driven standardization, or innovative approach, we are dedicated to providing our customers with the best possible experience. Visit us at www.glidefast.com.
