While one energy company pursues the traditional benchmarking sessions with companies within the industry it serves, it also looks to companies outside of the business to gain insight on different approaches to help it move forward. At PMI's PMO Symposium this year in Phoenix, one practitioner got to share their story--and hear how many other PMOs and portfolios have also found success in their environments.
PMI's PMO Symposium and Thought Leadership Series provide valuable, timely and relevant information on prevailing trends directly impacting our profession and the portfolios we manage. This year’s research builds upon and advances the themes of past years and continues to confirm the value of PMOs and portfolio management in assuring business success. Here are one presenter's key takeaways from this year's show.
Are your solutions meeting business goals, needs and targets? This article sets out a tried-and-tested way of using enterprise architecture as a road map for the business analyst when liaising between stakeholders to understand the structure, policies and operations of an organization.
Every now and then, we need to take a step back and recognize just how important project management is. Those of us involved in it tend to take it for granted--we’re too close to be able to appreciate it for what it delivers. In honor of International Project Management (IPM) Day, let's recognize some of the great things project management is doing...
Benefits realization occurs once the project is complete, and so there is limited PM accountability. But what about the PMO? Does it have a role to play in ensuring benefits realization occurs effectively?
What might the future look like, you ask? Here are some things to ponder as those wishing to command a greater percentage of our consumer spend are finding ways to “customize our experience" through exploiting the opportunities social media, big data analytics and mobility promise once properly integrated.
Project managers can facilitate benefits realization and--more strategically--the project management function. That encompasses the three Ps of project management, which can play the crucial but often missing organizational role that will embed benefits realization in strategy execution and--by extension--program and project delivery.
Recruiting project management talent and retaining them is one of the biggest challenges for any company. Organizations need to develop and nurture leadership traits of their project managers to keep operations running smoothly--and to achieve benefits everyone can appreciate.
Need a better approach to evaluating quantitative benefits? Use a statistical model and make investment choices based on outcomes that have a high likelihood of occurring. In our concluding installment, Statistical PERT comes to the rescue!
Many of you may have heard of the Crawl Walk Run project methodology. For those of you that haven’t, the idea is that if a project team is trying to achieve something big, that sometimes you have to evolve your approach in stages rather than trying to make all the changes all at once. Here we look at a potential problem...
Why should your organization spend money on projects? If we don’t answer, others will guess about our value...and we may not like their guesses! Fortunately, benefits realization management offers a set of strategies and techniques to help organizations obtain value from projects.
Question: I know project managers are now going to be more involved in business analysis things, but that doesn’t mean I know how to do that part of the job yet. My manager asked me to narrow down a list of electronic tools to see what would be best for our corporate situation. How do I even start?
Google “software tools for project management.” The product with the highest number of listings in your search page is the best one on the market. Recommend that one.
Ask your local PMI chapter, Agile Alliance chapter or IIBA (International Institute of Business Analysis) chapter board what three products they would recommend. They may also have a list of the vendors that had booths or tables at their last local event.
Software changes rapidly. Try to find the most recently developed software so that you don’t get stuck with outdated code. Always go with the old saying, “The latest created is the greatest created!”
Your management team, with the help of the procurement staff, will probably make the final decision. Use a logical matrix of tool profiles to narrow down the field for what you need in your organization, and then turn the final decision over to them.
Recruitment and retention of human capital is now a strategic imperative for organizations in this highly competitive global work environment. As such, this issue has been raised to the C-level to ensure required results are obtained. How can you help?
Five emerging technologies will combine to create a challenging period of time for project management professionals. Given the breadth of use of these technologies, every sector will be impacted. Are you ready?
The world of technology is growing faster than ever and shows no indication of slowing down. So what are the implications of these technologies as they evolve and mature at an exponential rate? Can the aging infrastructure of the internet keep pace?
Technology is driving transformation in the business model. Now more than ever, a need exists for roles that can work seamlessly between the IT and business sides to bring organizational strategy to fruition.
PMOs, IT leaders and CIOs are commonly measured on their ability to complete projects on time and on budget. This is no longer enough. In today’s world, IT has a seat at the business strategy table, so we must look beyond our traditional metrics and challenge ourselves to ensure we are providing business value.
Creating a Project Management Center of Excellence is the driving force that takes an organization forward to realize its project management mandate. It encompasses the process of creating a strategy for project management, re-shaping the culture to be more focused on the consistency in the management of projects an implementing a project management process.
Have you noticed that as project execution approaches evolve, they become more Agile (or at least “small ‘a’ agile”)? Does that create opportunities for more formal acceptance of agile concepts throughout organizations?
CIOs holds the key in establishing IT as a part of the strategic business plan, which can help drive initiated changes across the organization. However, CIOs must also focus on maximizing outcomes with results in order to dramatically change the perception and actual value of IT in the eyes of the business.
When it comes to organizational transformation, the power of project management comes into play. Its framework provides enhanced governance, control and focus on desired business outcomes--and progress toward a strategic direction.
There is increasing recognition that project managers need much more than PM skills in order to succeed. However, that is not yet translating into comprehensive skills development for PMs. How do we change that?
Every project has stakeholders. Your job is to get to know the ones who will be crucial to your project. This analysis worksheet will help you get a feel for what to expect from various key parties who have an interest in your project.
"[Musicians] talk of nothing but money and jobs. Give me businessmen every time. They really are interested in music and art."
- Jean Sibelius, explaining why he rarely invited musicians to his home.