Maturity model: ELOT1428 financial impact

Abstract

The European Union, in order to help countries with low development, has created a Community Support Framework (CSF). Greece is one of the countries that will receive the fourth structural assistance budget. The period which this assistance budget will be active is between 2007 and 2013, and because of the fact that this will be the last one, the Greek government has decided to create a maturity model in order to ensure the success of the projects that will be conducted with those funds. My intent is to research about the new maturity model designed from Hellenic Standardization Organization (ELOT), which is going to be adopted by Greek companies in order to gain sponsorship to perform projects with funds from the European Union. More specific what are the financial costs or earnings for the Greek companies by using the new maturity model both during its adoption? These results will be hypothetic as no company until now, has adopted the new model, and used it during the execution of a project. Generally though, the adoption of a maturity model from a company usually influences negatively the financial condition of the projects. But in the long – term, the adoption of a maturity model leads to better quality for the company. This fact aids to the growth of the firm by gaining more projects.