By Jen Skrabak, PMP, PfMP
I am amazed that so many projects and programs (and by extension, portfolios) are still so challenged. Forty-four percent of projects are unsuccessful, and we waste $109 million for each $1 billion in project expenditures, according to the 2015 edition of PMI’s Pulse of the Profession.
One solution that the report identifies is mature portfolio management processes. With that in mind, I’ve come up with a list of five things that unsuccessful portfolio managers do—and what they should focus on doing instead.
1. Worry about things they can’t change.
Unsuccessful portfolio managers worry about the past or dwell on problems outside their immediate influence. Successful portfolio managers learn from the past and move on. Sometimes, failures turn into lessons that create the foundation for future growth and opportunity.
Portfolio managers should stay focused on what can we influence, negotiate and communicate, as well as what we can start, stop and sustain. Every month or quarter, assess the processes, programs and projects in your span of control. Decide which to start, stop and sustain, and develop action plans around those decisions (including dates, resources required and collaborators).
2. Give up when things get too hard.
It may be easy to throw in the towel when conditions become challenging. But the hallmark of a good portfolio manager is the ability to find solutions.
Sometimes, our immediate reaction to a proposal is to think the timeframes or goals are not possible. However, when we get the team together to focus on what can be done, we come up with creative solutions. It’s necessary to gather the facts and do the analysis instead of jumping to conclusions.
3. Set unattainable goals.
There’s a difference between a stretch goal and an impossible one. Sometimes, projects or programs don’t start off as unattainable (see #2 above) or undoable, but they become so.
Although we may be good at starting projects or programs, there’s not enough emphasis on stopping them. The environment (internal or external) may have changed, key resources may no longer be available, organizational priorities may have shifted, or the business buy-in might take too long. Rather than calling attention to the situation and recommending a “no go,” unsuccessful portfolio managers tend to press on with blinders. This wastes time and resources.
Once I was managing a $500 million portfolio of international expansion programs and projects. The portfolio sponsor told me, “I want to know if we’re falling off the cliff.” Although we hope our programs or projects never get to that point, his words did clearly specify the role I was supposed to play.
4. Stay in your comfort zone.
It’s easy to create a portfolio in which the potential for risk and failure is low. But that means we may be missing out on opportunities for innovation or great returns. Advocating change in your portfolio requires taking calculated risks that you can learn from or will pay off in the longer term. The successful portfolio manager will advocate taking good risks (aka opportunities) instead of blindly going forward with bad risks.
Taking advantage of opportunities is the key to transformation and reinvention. It’s essential to any organization that wants to survive long-term. For example, who could’ve predicted just a few years ago that Amazon, Netflix and even YouTube would become rivals to TV and movie studios in providing original entertainment? This required calculated risk taking.
5. Forget about balance.
Balance is important, whether it’s balancing your portfolio or balancing your work and your life. If you’re not performing your best because you’re not taking care of yourself, it’s going to affect your portfolio. Especially with technology blending our work and personal time, it’s sometimes hard to think about balance. One survey showed that we’re checking our phones up to 150 times per day. But remember the basics: eat well, exercise, take time to de-stress, and set aside time for yourself, family and friends.
What do you notice unsuccessful portfolio managers do, and what would you recommend instead? Please share your thoughts in the comments.
The PMBOK 5th Edition Hindi Translation Team Gets Recognition
This piece continues my previous blog posts, “The Techniques That Don't Resolve Conflict” and “The Only Technique That Resolves Conflicts,” which looked at why no technique other than collaborate/problem-solve truly resolves a conflict.
Researcher Bruce Tuckman suggested that a project team generally goes through the forming, storming, norming and performing stages. In this post, I will discuss a team that skipped the storming stage—or, rather, they managed their conflicts so well that they spent most of their time in the performing stage. Fortunately, I was part of the team.
PMI India took up the task to provide the PMBOK Guide—Fifth Edition in Hindi to promote project management in Hindi-speaking regions. The project initiated in February 2013 and aimed to finish by August 2013 so the new Hindi version could launch at the PMI National Conference in Delhi in September 2013. We had only six months, and the team was yet to be recruited. We had to onboard a translator and form a Translation Verification Committee (TVC) of subject matter experts who were native Hindi speakers with sound knowledge of the PMBOK Guide—Fifth Edition.
The cover of the PMBOK 5th Edition Hindi version.
PMI India already had some volunteers for the TVC. We selected a few names and started interviewing. We also tried to persuade people who were part of the TVC for the Fourth Edition to participate. We intended to select eight people for the TVC, but we settled for seven.
Facing and Overcoming the Challenges
After finalizing the team, the kickoff meeting happened on 31 March, 2013. So we had only five months to complete the job. We met the first time to understand each other and set the agenda. We prepared a schedule with our best estimates. It turned out those estimates had us completing the project in October! That was not acceptable, but we decided to start work on the first three chapters and revisit the schedule later. We decided on one face-to-face meeting per month on a weekend and to connect via a conference call in between.
In the first call, we could see what we feared most. There was a lot of discussion to select the right word and sentences, and we couldn’t make much progress.
At the second meeting, the target was to finalize Chapter 1 on the first day, but again there was a lot of discussion about choosing the right word, and we could not complete the chapter. It was a matter of concern now.
We decided to set ground rules:
At the third meeting, we lost one of the team members. Before the fourth meeting, another was transferred out of the country, reducing his availability significantly. Now the only way to complete the project before 31 August was to take less time in review. The only way to do that without losing quality was to keep our conflicts in control. Forming the above rules turned out to be the most critical factor. Obeying these rules reduced unnecessary discussion and considerably improved the pace. We completed all the activities by 27 August, leaving two weeks for printing and publishing.
Working on this project, I closely observed how a team can manage its conflicts and focus on delivering the work. The following five factors were most critical:
Do you have a similar experience or opposite to it? Please share your view.
The 3 Things That Transcend All Project Approaches
Human Aspects of PM,
New to Project Management,
Categories: Agile, Best Practices, Change Management, Communication, Complexity, Facilitation, Generational PM, Government, Human Aspects of PM, Innovation, IT, Leadership, Lessons Learned, Mentoring, New to Project Management, PMOs, Program Management, Project Delivery, Project Failure, Stakeholder, Strategy, Talent Management, Teams
by Dave Wakeman
Recently I had the chance to engage with Microsoft’s social media team about some of the issues I have been covering here. Their team brought up a question you may have asked as well: How do you differentiate between “digital” project management and project management?
It’s an interesting question, because I firmly believe all projects should be delivered within a very similar framework. The framework enables you to make wise decisions and understand the project’s goals and objectives.
I understand that there are many types of project management philosophies: waterfall, agile, etc. Each of these methods has pros and cons. Of course, you should use the method you are most comfortable with and that gives you the greatest likelihood of success.
But regardless of which project management approach you employ, there are three things all practitioners should remember at the outset of every project to move forward with confidence.
Every project needs a clear objective. Even if you aren’t 100-percent certain what the “completed” project is going to look like, you can still have an idea of what you want the project’s initial iteration to achieve. This allows you to begin work with a direction and not just a group of tasks.
So, even if you only have one potential outcome you want to achieve, starting there is better than just saying, “Let’s do these activities and hope something comes out of it.”
Frameworks enable valuable conversations. I love talking about decision-making frameworks for both organizations and teams. They’re valuable not because they limit thought processes, but because they enable you to make decisions based on what you’re attempting to achieve.
Instead of looking at the framework as a checklist, think of it as a conversation you’re having with your project and your team. This conversation enables you to keep moving your project toward its goal.
During the execution phase, it can give you the chance to check the deliverable against your original goals and the current state of the project within the organization. Just never allow the framework to put you in a position where you feel like you absolutely have to do something that doesn’t make sense.
Strong communication is the bedrock. To go back to the question from Microsoft’s social media team about digital vs. regular project management: the key concept isn’t the field or areas that a project takes place in.
No matter what kind of project you’re working on and in which sector you’re in, the critical skill for project success is your ability to communicate effectively with all the project stakeholders.
This skill transcends any specific industry. As many of us have learned, it may constitute about 90 percent of a project manager’s job. You can put this into practice in any project by taking a moment to write down your key stakeholders and the information you need to get across to them. Then put time in your calendar to help make sure you are effective in delivering your communications.
In the end, I don’t think there should be much differentiation between “digital” projects or any other kind of projects. All projects benefit from having a set of goals and ideas that guide them. By trying to distinguish between different project classifications, we lose sight of the real key to success in project management: teamwork and communication.
What do you think?
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By Peter Tarhanidis
Many organizations rely on traditional curriculum-based learning to develop project leaders. However, such approaches are deeply rooted in pedagogy—the teaching of children.
Even though top managers at many organizations invest in traditional project management curricula, these courses have limited utility for adult project managers, slowing down the organization from reaching goals. In my experience, organizations tend to employ disparate training methodologies while teams dive into execution with little planning. With scattered approaches to talent management and knowledge transfer, they miss project goals.
All this creates an opportunity for an enterprise-wide approach that integrates contemporary adult learning and development practices.
Leveraging this approach allows the organization to motivate and sustain increased individual and project performance to achieve the organization’s strategic plan.
In coming up with such an approach, organizations should consider several adult learning and development theories. For example, consider Malcolm Knowles’ six aspects of successful adult learning: self-directed learning, building experiences, developing social networks, the practicability of using new knowledge, the internal drive to want to understand why, and how to use new knowledge.
And they must also keep in mind how the aging project management workforce of project managers drives organizational performance. Other considerations include:
Try these eight steps to build a more flexible and integrated adult learning framework.
New integrative learning approaches are required to increase project managers’ competence while motivating and sustaining older adult learners.
By applying these practices to critical needed competencies, organizations can create new capabilities to meet their strategic plans.
By Kevin Korterud
It’s not uncommon, particularly on larger programs, that project practitioners have to assemble a team of project managers. Sometimes we’re lucky enough to hire project managers we know. But quite often, we have to resort to a formal application process.
I get many questions about how to find the right project manager for a role. The process of interviewing and selecting a project manager requires preparation, efficiency and the ability to quickly focus on the skills needed for a project.
Here are four tips for navigating the interview process—and identifying the ideal candidate.
1. Read and Rank Résumés—Before Interviews
It is essential to prepare for the interviews. Good preparation practices include:
2. Set the Stage
Where you conduct the interview can be as important as what you ask. Secure a location that makes for easy dialogue with minimum distractions and supports your scenario-based questions.
The best location is in a program “control room.” These rooms typically have project schedules, metrics, risks and issues displayed on their walls. Having real-time project artifacts as a reference point promotes both active dialogue and the ability to highlight examples related to the scenario-based questions. If a control room is not available, create a temporary one in a conference room where you can tack up project management artifacts.
3. Ask the Right Questions
The candidate has probably already gone through an initial screening. So resist the temptation to ask questions that could have been posed before or “dead-end” questions that don’t shed light on a candidate’s project management skills. Dead-end questions include:
Scenario-based questions that bring out the depth and breadth of a person’s project management skills include:
4. Leave a Positive Impression
Sometimes a candidate isn’t a good fit for a specific project management role. If that occurs, consider the interview to be an investment in the future—perhaps you will need a project manager with that skill set for a later project. Be sure to stress this to the candidate. If there are other project manager roles open, explain that you will route the person’s résumé for consideration for those roles.
No matter the decision, it’s essential to leave a positive impression with the candidate. A positive impression left with candidates also helps attract referrals to your role.
Interviewing project managers can feel like as much work as the project itself. Good preparation, execution and decision-making during the process can help to quickly fill your open project manager role—as well as build a pipeline of candidates for the future.
What techniques do you use to interview project managers?