In this installment on requirements, we will walk through the methodology for identifying IPOs, the functional data model and briefly address level of effort estimating.
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Project management is primarily an integrative job. This includes the integration of change management principles and activities throughout the project lifecycle. Unfortunately, many practitioners--regardless of their backgrounds--find it difficult to integrate strong change management principles and techniques with project management practices. PMI standards hold many of the keys required for developing structured and robust change management activities without the need to create a separate or adjunct change management plan.
Projects and programs are the core of any organization’s strategic initiatives--they are how change happens. Having the talent to implement those initiatives successfully is the critical capability that gives organizations a competitive advantage. Excellence in managing the talent is a key to unlocking that capability. In partnership with PwC, the Economist Intelligence Unit (EIU) and Human Systems International (HSI), the PMI Thought Leadership Series focuses on how talent management impacts project practitioners and, in turn, the successful implementation rate of strategic initiatives. Read more in Talent Management: Powering Strategic Initiatives in the PMO, Spotlight on Success: Developing Talent for Strategic Impact and Rally the Talent to Win: Transforming Strategy into Reality.
Effective executive sponsorship is critical to the success of an organization’s strategic initiatives, and active engagement by executive sponsors is the top driver of project and program success. Yet sponsors are assigned to fewer than two-thirds of projects. This situation results in significant losses for organizations, but there are some simple solutions. Read more in PMI's Pulse of the Profession In-Depth Report.
Organizations today face a chasm between what they should be doing--aligning projects to their strategy--and what they are able to accomplish. As a result, 44 percent of strategic initiatives are unsuccessful. PMI’s 2014 Pulse of the Profession, its annual global research, examines the impact of the implementation of project, program and portfolio management. This report demonstrates that in order to remain competitive, organizations must place a strategic focus on people, processes and outcomes. And the time to act is now.
This white paper provides a discussion of the benefits of adopting portfolio management through customer testimonials and case study examples.