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ERM-GRC: Why Speed of Implementation Matters | Mitratech Holdings, Inc

When implementing new software, sometimes there are overages. Even with stakeholders or key decision-makers determining necessary features during a preliminary stage, a desired project budget can be exceeded during the development phase.

This can be as a result of:

  • Unexpected conditions
  • Unrealistic requirements
  • Software selection that’s a bad fit for your business

Another challenge is a lack of cross-functional buy-in. When it comes to implementing an ERM-GRC (Enterprise Risk Management/Governance Risk Compliance) software managing collaboration between departments can be problematic. Resistance and apathy are major project risks due to fear of change or imposition and a lack of understanding of the rationale for the project.

Additionally, there can be hidden costs associated with implementation, such as:

  • Hardware and additional software changes
  • Extra operational resources
  • Additional security
  • Upgrades, patches and fixes
  • IT team training
  • Data management

No matter how much you plan, go-live dates can slip.  As the development phase progresses, requirements often expand and necessitate new features, or a project proves more difficult than initially anticipated. These setbacks can lead to a creep that inevitably delays an estimated delivery timeline.

Finally, the culmination of all these problems is that your IT team may lose their passion, setting back a project by weeks or even months. This can be due to:

  • Unclear motivation
  • Unclear goals and timelines
  • Overwhelming goals
  • Unclear communication throughout the organization
  • New, competing priorities and projects

Fast and successful ERC software implementation

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