We purchase insurance to hedge our bets that everything will go right—in case they don’t. We buy liability insurance, auto insurance, life insurance and health insurance. The premium we pay to the insurance company is a fraction of what they will pay, and what we will save, if something goes wrong in our life.
There is a form of insurance policy that a Company can invest in during a major ERP implementation project. It’s hiring an auditor to come in and look at the project while it is in progress—to ‘look under the hood’ and see how things are coming along. The cost of hiring an auditor is a small fraction of the cost of the project, and mere ‘lunch money’ compared with the cost of a project failure—which very well may be averted through the efforts of the auditor.
Monhabie Advisors provides project auditing services on large, complex ERP projects. Enterprise Resource Planning (ERP) platform implementations that they have managed and audited include Oracle R11/R12, PeopleSoft 9.0, MS Dynamics AX 2012 R1/R3, MS D365 FO/CE/CRM and NetSuite Cloud.
Monhabie Advisors has audited major projects, and in one case discovered that the client was about to lose $5 billion in revenues if it went live on the scheduled date. Monhabie recommended a course correction and the project was launched with the loss of no revenue.
It is usually a great idea to have an independent consulting Project Auditor evaluate the health of your project. We think of it as “cheap insurance” on a valuable asset. For a very reasonable sum you can learn if your project is on time, on budget, and being executed according to approved methodologies.