Pursuing overseas or cross-borders business requires an understanding of the country and political risk—it is, indisputably, a key consideration. The author demonstrates how PMI risk management processes and best practices can be customized to expand the picture of country political risk assessments, identification, analysis and monitoring.
This is a Project Status Report in Excel that can be used for periodic project information. Buffer, risks, milestones status and other relevant information are part of this report, which is a helpful tool for the project manager to show the project evolution.
How many of you have seen project reporting structures that strongly encourage you to present just the “nice looking” status to the CIO, subtracting any real project issues or concerns from the reporting? It's a problem on PM is very familiar with.
Organizational values, project boundaries and performance expectations are all important areas that exist within every organization with varying degrees of thought and implementation behind them. Here we look at how organizational rules and norms are presented and communicated to employees and project team members, and how they can be interpreted.
Question: A major strategic project in my company has failed! The current project manager has been reassigned and I have been asked to take over. The spotlight will be focused on me and my team, and while we have the chance to be heroes, we can also end up tarnishing our own reputations. Any innovative ways to pick up a messy assignment mid-stream and up our chances of beating the odds for success?
Start by meeting with the previous project manager to ascertain which people, vendors, stakeholders and unavoidable events led to the failure. As you plan your own Work Breakdown Structure, restaff with new, more competent employees and other surrounding people.
Start by calculating how much you have left in the budget and on the timeline and make sure the plans you create will not further stretch the company financially. This is the most important factor in having your outcomes ultimately checked in the “success” column.
Often, teams picking up previously failed projects start with what went wrong, who is to blame and how to avoid making the same mistakes. Find a more innovative approach if you want to have the outcome be positive this time.
A savvy first step that will jell your worth in the mind of management is to question whether or not this project should be completed at all. If you can convince them that it is an impossible quest, too expensive or beyond the scope of what your internal team can undertake, they may cancel it completely, leaving you without the risk of failure.
What tools do you need to manage a project, and how do you find them? You cannot plan for every eventuality, but by covering the bases, you can deal with most problems and expand your tool set along the way.
Since work completed from tasks not on the critical path does not affect the completion date of a project, it is important to differentiate tasks that are “critical” from those that are not in order to better monitor and control them. The project performance metric, critical path task index (CPTI), offers a more holistic view in terms of schedule performance for tasks directly related to schedule completion.
There are some project managers who will set high expectations or low expectations strategically depending upon their stakeholders. In reporting project status, as in all things, the truth will serve you best.
What happens when a project manager faces team attrition? This article covers three strategies that can be applied during project planning, executing and controlling within the project human resources management and project risk management knowledge areas.
Kanban is an effective tool for monitoring and controlling high-volume/low-complexity projects when the goal is to increase throughput, limit work in process (WIP), and measure flow in project environments. Implementation of this approach has the ability to reduce the project management team’s level of effort while optimizing resource utilization.
Document a business case to persuade upper management to fund your project. Keep it short and succinct enough that the busy executive management audience will read and digest it. It should directly convey the information they need to know with salient, hard-hitting, supporting evidence that addresses the bottom line. This is a basic instructional framework of the information you should include in your business case. Enhance it as you wish!
Finding sponsors to back your project is an art. Make a compelling case for the project to gain sponsor support when you are pitching your business case to executive management. Here is an example of a brief, direct project concept designed to lure sponsors into your camp.
Formulating a business case and proposing your project to senior management for buy-in can be tricky. Don't dive right in and start writing. Begin with a solid checklist of guidelines to ensure a business case that's more than buzzword hype.
Mission-critical projects need to be well-justified, with clear goals that can be referenced throughout the life of the project. This business case template offers an excellent approach to goal-setting and a way to communicate those goals effectively.
This is a high-level example of a Project Charter for implementing a methodology, but the structure and approach will work for many projects. This example is heavy on risks and assumptions, light on budgeting, role descriptions and conflict resolution.
The attached tool has been developed to assist you in generating some solid payback data to be used to evaluate the return potential of your proposed method. Not only will it help the gods of finance see the light, but will also help you to understand whether your project is a winner or loser before you ever put your signature on the purchase requisition.
This excellent project justification guide will provide sophisticated advice to maximize the impact of your business case, making it accurate, complete and persuasive. In addition, learn some handy tips, techniques and strategies to complement existing procedures, templates and spreadsheets that you already use.
Presenting a winning business case with the right amount of the right information for the right audience is the key to getting approval and funding for your project! Here is a presentation that will give you the fine points on how to do just that.
No project was ever completed on time and within budget. Identifying risks associated with a project and mitigating them is a crucial activity of project planning. Managers need to not only analyze project risks, but also must develop contingency plans to address those risks.
Building an application? This checklist outlines 52 potential risk areas in application development, defining low, medium and high risk levels for each. Classifying your project risk in each of these areas will not only guide you in forming mitigation strategies, but really help you focus your management attention during the course of the project.
What's the first step in looking at the risks you face in delivering your project? Before performing a full-blow assessment, you may want to ask yourself a few simple questions. This 10 minute, 27 question worksheet will help you quickly identify a number of risk factors common to many projects. It's a great first step in looking at the risks you may be facing at a macro level.
This template outlines a classic Project Charter with a focus on project definition and strategic ties. Risks and stakeholder needs are covered, but not in granular detail. It is appropriate for fairly low-risk projects where the goal is to get everyone on the same page up front.