Companies that have adopted enterprise resource planning (ERP) systems often want to believe their multi-million dollar investment to be the solution to everything data and process related. Unfortunately, while some ERP systems claim to be a one stop shop, can they really serve the intricate needs of every part of the organization and every business process, while adhering to the fundamental need to be an 'integrated' solution?
Never is this issue more relevant than in the area of capital project management and controls. Increasingly, project controls groups are being asked to report to the Finance organization. The Finance organization speaks the language of ERP as its mother-tongue. Because it, along with the IS/IT group, is typically instrumental in implementing the ERP - and, therefore, responsible for demonstrating return on investment (ROI), reduced total cost of ownership (TCO), and streamlining previously disjointed business processes – the Finance organization often feels compelled to roll the capital projects group into the ERP ‘family’.
This white paper discusses the potential pitfalls in adopting a 'one-size-fits-all' mentality in relation to using ERP systems to manage the capital project portfolio.