ore than just planning and monitoring, driving execution and keeping the management in control even when the uncertainties’ prevailis what Realization Technology counts as its forte. Founded in 1999, the company first started with providing project management software. Although, within few years in the business, Sanjeev Gupta, Founder & Group CEO, realized that mere software does not add much value for its clients. So, to fill the gap, he thought of augmenting the client’s management resources with company’s own employees, who would work closely with the client to ensure success.
Today, after several years of working hand-in-hand with its clients, Realization Technologies not only gets involved in planning and monitoring of a project, but also gets involved in executing the project until the very end. Already successful inU.S, the company analyzed the similar level of demand in India, and in 2009, with Prabhakar Venugopal on board the company envisioned to grow manifolds.Recollecting his initial hurdles, Prabhakarmentions, “Understandably, the general opinion of the business stakeholdersin India about projects was that everyone knows what to do, and this hasmade the reach to these stakeholders a little tough initially.” Underlying issues such as task leveldelays, slow staffing, and vendor delays,
held up government approvals and other bottlenecks together affected the schedule and managementcapacity of the big projects. However, with its commitment and visible results, the company soon started attracting clients. Further, to build trust among its clients, the company started tying in a stake in their fees to the project delivery, a strategy that resulted in many referral businesses from its own clients. “There is nothing better than having an existing client selling to a prospective one,” addsPrabhakar.
To contribute to projects, Realization typically sets up a Project Synchronization Office (PSOSM) which works hand in hand with the clients to achieve- to keep everyone’s priorities synchronized and minimize waste in execution, to design incentives that keep contractors and vendors aligned to one goal, anticipate upcoming bottlenecks and de-bottleneck the critical work-fronts and free up managers from the trivial many and focus on critical few. Prabhakar explains, “We own end date delivery by ensuring that the work with internal and external parties are aligned to help clients take informed decisions, which later helps them to remain focused all through the project timeline.”
Working across countries like the U.S, South Africa, France and now in India, Realization has worked with some of the most well respected organizations, which include NTPC, L&T, Tata Steel, Kalpataru Power, Dr. Reddy’s Labs, Trident Industries, Vardhman, Welspun, Pride Hotels, Hyatt Hotels, JMC Projects, Bihar Urban Development Company Limited, Kanoria Chemicals, SREI Group, Everest Industries among others. It has so far delivered 300 projects worldwide, adding value of $5B and successfully executed 60 projects worth Rs. 30,000crores in India. For its illustrious work, the company has received the prestigiousFranz Edelman Award (also known as the Nobel Prize in Operations Research).
Commenting on the company’s vision, Prabhakarsays, “India faces a unique challenge of delayed projects with an acute shortage of quality project managers. Realization currently ensures setting up of the PSOSM, providing their patented system and software to manage execution and arrest delays, however to fill in the missing gap, is planning to introduce industry ready and certified Project Managers who can be utlilized in projects from Day 1. In the future, the company feels that a three pronged approach- PSOSM, Providing Quality Project Managers and Project KPOs is the way to success. The company believes that all these will result inaccurate outcomes with respect to project deliverables.With its supportive services, Realization Technologies has reached the pinnacle of its journey.