Have you been in situations where it seems that only shouting generates results? Or has your team been pressured to complete tasks that don’t appear to benefit your project? Maybe as the project manager, you have been in the middle of confusion and agitation that seem to undermine your project management abilities.
Could it be that many of the scenarios you encounter have their roots in conflicting stakeholder requests and misunderstandings? Well, it’s possible to avoid these types of predicaments. Consider utilizing the following three tools that allow you to have better control of your project and your project team:
1) Communications Plan. Outline a plan with names, contact information, and details on when and what messages need to be delivered to and from you. This tool allows you to know the frequency of message exchanges and the media required for specific contacts.
It also lets you know what level of detail the message should have, i.e., if it is going to a senior manager vs. a member of the supporting team.
2) Stakeholder Analysis. Prepare an analysis of your stakeholders to understand what their roles are and what area of your project is impacted by their involvement. This tool can help you with the department that has the biggest impact all the way down to the departments that have even a small effect.
Additionally, this tool can show how those who are directly or indirectly connected to your project may have an influence that can be detrimental.
3) Project Plan. Develop a plan with the focus on your project objectives and what the project will entail. Organize the plan for what needs to be done and when. The tool should show ownership and timings that you can share with stakeholders to also make them aware of the potential influence of their requests.
Sometimes, we get can get distracted when trying so hard to make sure our projects meet every need. There are many voices, conflicts, risks and events that affect the success of our project. Leaning on these tools may make your stakeholder management process smoother.
By Peter Tarhanidis
New and proliferating digital technologies are giving rise to new competitive businesses while transforming legacy organizations. It’s no longer just about the Internet, but increasingly tech-savvy users and inexpensive smartphones and tablets.
From an organizational perspective, it’s not just a matter of grappling with new technical platforms: The relationship between organizations and their customers is being transformed.
Before, the cornerstone of customer service was the golden rule: treat your customers the way you want to be treated. Customer relationships were facilitated and managed within just a few departments.
Disruptive technologies have enabled a shift to a new paradigm: customer empowerment. This ushered in the new platinum rule: treat your customers the way they want to be treated. Disruptive technologies integrate organizations to their digital customer experience and are simultaneously influenced by social, consumer and professional media portals like Facebook, Yelp, NetPromoter Scores, and LinkedIn.
Now, much of the work and measurement of this activity is shared across the entire supply chain of the customer journey, which requires more cross-team collaboration to report on the customer experience.
So the importation question has become: How can we make the digital customer experience flawless? This is the new competitive differentiator for companies. Those that stand apart in this respect build market leverage.
Project managers are one asset organizations have at their disposal to ensure success with this new digital customer experience dynamic. Here’s a four-stop roadmap for optimizing your organization for the brave new digital world we all live in.
How is your organization adapting to the new realities of our digital customer age? Please take a moment and share your thoughts.
By Wanda Curlee
I’m a big fan of PMI’s annual PMO symposiums. I presented at last year’s symposium in Miami, Florida, USA and I’ll be presenting in Phoenix, Arizona, USA next week at this year’s event.
Why do I make the trip each year? There are many reasons. Each symposium acts as a crossroads of sorts between general management and project management. Each gives me a chance to speak with senior leaders in a one-on-one environment. And copies of PMI’s latest installment of the Thought Leadership Series, which features in-depth original research and analysis, are given out to attendees.
This year’s series is on “The Power of Project Portfolio Management.” As a certified portfolio manager, I want to leverage that research to increase my ability to provide powerful portfolios for my current company and future clients.
Last year, the symposium focused on talent management, and PMI’s talent triangle was a focal point. That, coupled with the introduction of the portfolio management certification (PfMP), made for an exciting and fruitful experience.
Senior leaders from many organizations discussed the value of the talent triangle and how portfolios, programs and projects help drive the talent in their respective organizations. Hearing executives discuss and present the practical side of what the project management discipline has done for their organizations was invaluable.
But the bit that I found most fascinating had to do with corporate citizenship. When running a portfolio, trust should be established so that program and project managers are willing to give back funds in excess of actual projects and programs.
It’s an odd concept, but when followed on a quarterly basis, it builds the understanding that more projects and programs can be funded and—most important—there are funds on hand if you find your project or program is in trouble. There’s no concept of shoot the messenger.
This year’s PMO symposium, held from November 8th to the 11th, will once again draw senior leaders from an impressive array of organizations. The networking opportunities will be vast.
If you’ll be in Phoenix, stop by my educational session on why a portfolio manager should be the CEO’s best friend. Yes, I truly believe that portfolio management can drive better management of corporate resources and increase the bottom line for all companies. Resources are finite at every company—and portfolio managers work to allocate them efficiently.
If you don’t agree with something I say, speak up—I’m there to learn, too.
By Dave Wakeman
I spend a lot of time focusing on value and ROI. For a project manager, it's often a challenge to understand how to communicate your role in terms of value or ROI. But that doesn’t mean you shouldn’t try.
The fact is that without strong project management and project principles in place, most projects wouldn’t come close to realizing any ROI or creating value for their organizations.
So how can project managers begin thinking and expressing their success and impact in terms of value? Here are a few ways:
1. It isn’t about actions, it’s about outcomes.
It can be tough to think in terms of outcomes with all of the various requirements built into your project’s plan. Or with a sponsor sitting over your shoulder asking about every minute detail.
But your goal is to produce a project that creates value for your organization and client. You don’t do that with a list of activities you have completed. You do that with the outcomes those activities produce as a whole.
To begin to turn your thinking around, instead of stating the tasks you’ve completed, start stating your accomplishments like this:
“Based on our objective to create a new drilling platform that has the following functions, we have successfully created the framework for the platform and have integrated these three features into the framework. We are on schedule to finish the remaining features within our predicted timeframe.”
2. Ask questions based on intended impact.
Too many project managers find themselves in environments where their input isn’t desired, their thoughts aren’t respected, and they feel reluctant to ask questions.
That’s a terrible situation. And, if it’s a common experience, I’d advise you to put down this article and go find a new job, because you deserve better than that.
If you’re merely failing to ask good questions, you need to get over that right away. Questions empower you as a leader.
The questions you ask should be directed toward the intended impact of the project on the stakeholders, the sponsor and the organization. So ask strong questions like:
These kinds of questions will empower you with two things: knowledge to make better decisions within your project and the context to explain and communicate those decisions to your team and key stakeholders.
3. Measure your work in a meaningful way.
In so many businesses, we hear about data and measurements.
What does much of it mean? Not really a lot, in too many instances.
To refocus your project management efforts and maximize your ability to talk in terms of the value of your projects and your leadership, you have to measure the outcomes in a meaningful way.
Here are some examples:
The key here is to make sure you focus on making things meaningful and measurable. Being fast or cheap is one thing, but being better, faster and cheaper is what counts.
By the way, I write a weekly newsletter that focuses on strategy, value, and performance. If you enjoyed this piece, you will really enjoy the weekly newsletter. Make sure you never miss it! Sign up here or send me an email at firstname.lastname@example.org!
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.