Software infrastructure such as databases and core applications must be available 24/7 to support the business. As these infrastructure elements age, you should start planning when they will be updated or replaced. Take a look into three main areas of achieving this—making decisions, design success and selecting vendors.
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When economic downturn presented challenges to the insurance industry, a leadership council was convened to lay out a strategy to improve operational effectiveness. But the tension between urgent business needs and the project discipline required for appropriate action led to unintended results.
Research Results: What IT Project Managers Think About Financial Investment Firms Pursuing Straight-Through Processing With Agile and Workflow Management Systemsby
Changes in the financial services sector have made achieving straight-through processing—a dedicated commitment to settle a securities transaction within 24 hours and minimize risk—a monumental effort. Can agile software development and workflow management systems have a positive impact on addressing straight-through processing?
By rank ordering projects, many companies mistakenly assume that all projects above the resource line constitute a “prioritized portfolio.” An optimal portfolio is a combination of projects that seeks to maximize value subject to a resource constraint while paying no attention to rank order. Follow this blueprint to implement portfolio optimization and maximize portfolio value in your company.
Cloud computing and services are central to digital transformation. The cloud improves an organization's agility to rapidly roll out new IT solutions to meet business needs. The cloud by its fundamental nature reflects an adaptive (agile or value-driven) approach to delivering products or services. How does that fit into the usual five-gate phases in IT project governance?
As a project manager, you need meetings in order to increase collaboration and resolve obstacles, but you may be taking productive time from the team member’s workday. Recognizing this helps you understand that maximizing your time together is essential. Learn how to make your meetings efficient, purposeful and interesting.
Projects live and die by decisions. Such decisions are seldom made in isolation and are often the product of deliberations ripe with dominant management culture, stakeholder egos, their politics, risk appetite and resistance to change. Learn how you can maneuver these moving pieces skillfully to influence project sponsors and stakeholders toward concurrence.
Project leadership takes guts. Face it, you take on some of the most complex assignments and are responsible for large budgets, resources and operational impacts. The steps outlined in this article will enable you to tap into your leadership potential, engage your teams and utilize proven techniques for successful project outcomes.
Providing an introduction to virtual project management and its benefits to the audience, the author offers strategies and tactics to work in a virtual setting and addresses the challenges, application and appropriate technology. This paradigm shift can allow businesses to evolve and succeed by gaining a competitive edge.
We all recognize the importance of benefits realization management. But benefits are identified and derived from the business case. Without a realistic business case, benefits realization management is hardly worth the effort. A development process based upon an iterative model and the use of best practices can increase the quality and trustworthiness of the business case.
In many organizations, the career track for project managers can be a rather one-dimensional climb to the top. This article (for career-minded project managers and employers alike) recommends an alternative model, one that is more realistic, dynamic and strength-driven. It is in an organization’s best interest to leverage and reward such strengths in order to reap corporate benefits.
Simple and effective automation can be used to publish and communicate one-page (or dashboard) project status reports using MS PowerPoint. This is one of the many uses possible and can be adapted to other needs. This approach, involving some VBA programming, can reduce repetitive and periodic tasks of reporting and uploading status reports.
Bad projects waste money and resources, divert attention from good projects, and sow doubt about organizational competence. Using project stories, this paper takes a look beyond why projects go bad to explore behaviors that contribute to keeping bad projects alive. Actions are provided that project managers can take to avoid being victimized by bad projects.
International Development addresses a vast array of issues related to social and economic transformation. This article draws attention to the importance of the meso management level, which helps to bridge the gap between the macro level where strategies are defined and the micro levels where the interventions occur. To be effective it must face challenges related to project governance and management competencies.
Some risks are not easily identified. Technical Interpersonal Risk (TIR), the complexity of managing technical projects wherein there is a significant reliance on subject matter experts (SMEs), fits neatly into that category. Awareness of potential impacts and mitigation strategies can help your project go much more smoothly.
Government agencies have recently found themselves asking questions about cybersecurity threats that they had not previously anticipated. In response, program managers must carry out a mandate of ensuring cybersecurity compliance while remaining on-budget. This paper seeks to provide answers and strategies while examining impact to schedule and budget.
Fast tracking can shorten a project’s schedule or easily cause rework to be required. It is of utmost importance to carefully weigh the risks prior to deciding whether or not fast tracking is the right option for the project. A quantitative estimate for calculating the monetary value translates the risk into hard currency.
Project management is the application of tools, know-how and skills needed to accomplish project activities, satisfy stakeholders and make a little money, too. These skills are particularly valuable to entrepreneurs in a wide variety of fields. What can entrepreneurs in the hip-hop business teach us about project management?
Decision makers typically have a short amount of time to select a candidate who best fits a job position and the One-Page Curriculum Vitae (OPCV) provides a useful tool. By using a timing diagram, it is possible to evaluate the time sequence of the most meaningful information and, at the same time, to evaluate previous professional experiences and activities.
At some point in your project management career, you will be given a project that deals with a product or technology that you have not experienced in the past. Driving your project doesn't require that you be a subject matter expert in anything but project management. Asking five questions will help you resolve the obstacle.
In a shift from traditional on-time and on-budget metrics, project managers increasingly collaborate with business analysts to measure business value as a key metric. Adopting a model based on feature analysis and determining feature business value sets the stage for results-driven, high-value project delivery.
Trust and risk are closely related and go hand-in-hand. Use the project management practices built around Risks, Issues, Assumptions and Dependencies (RAID) to build both a trustworthy team and a trustful atmosphere.
The third edition of the Construction Extension to the PMBOK® Guide was recently published. A supplement to the PMBOK® Guide for those in the construction field, this article is a teaser of the new edition. It makes brief comments about the changes from the previous edition and hints at the challenges experienced.
Quality is everybody’s concern. The rising stakes resulting from increased investments—combined with a shift from traditional to complex project management—has made quality an important pillar of the project management discipline. A case study illustrates the organizational benefits of continuous improvement through Kaizen.
Project leadership is as much situational as it is task-oriented. With every project being effectively different, it means leadership is about adaptation and being situationally sensitive. A case study of the U.S. Department of Defense illuminates this concept in the project management context.
How do we support innovation strategy in a way that best delivers business benefits and growth? Review the key enablers and common pitfalls and learn how project management can help you realize the greatest value from innovation.
Cultural awareness is an important aspect of leadership in a global environment. Reviewing the nine dimensions of culture, with suggestions on how to benefit from these dimensions when managing teams with cultural differences, will enhance your projects and help you make a positive social contribution.
This article proposes that the most effective projects naturally develop and evolve through a series of distinct phases and asserts that failing to recognize these transitions helps explain why so many projects fall short. Each phase calls for a distinct level and type of engagement. And that’s where your project management approach becomes critical.
Consolidating and reporting all aspects of a project can be a challenge. Experience with managing projects teaches the importance of emphasizing relevant data versus following a prescribed format—follow these key points to create a template for dashboard reporting that is tailored to the needs of your audience.