PM Network

Start-ups are upsetting the proverbial apple cart and upstaging old-timer organizations by being able to respond more quickly to market trends. What do you do?

This month’s PM Network has some ideas. Many organizations are implementing agile approaches. A survey shows that a top benefit of adopting agile is an increased ability to manage changing priorities. Increased project delivery speed is another advantage of going the agile way.

The article “Built for Speed” follows Australian telecommunications company Telstra as its IT and digital solutions team rolls out frequent releases for its products and supporting software. Another example shown in the article is the data engine Zoomdata, which sped up its product deliveries by transitioning to agile and giving ownership to its product teams.

Agile approaches can be used outside of IT as well. The article offers a five-step process of introducing agile. The results can be transformative for customers interacting with your organization.

First of the month, and that means it’s time for a new issue of PM Network. Want to “speed-read” the highlights in 40 seconds? Check out our monthly teaser video. Once you’ve been “teased,” slowly flip through articles of interest in the digipub or the print version, if you receive the magazine that way.

This month brings articles on maturing chatbot platforms, India’s conversion from cash to digital payment and trends in education construction projects. Read views of our columnists on subjects including agile and the internet of things, resolving conflict and the importance of partnerships between the CIO and other executives.

I won’t be a spoiler and tell you what’s in PM Network’s “feature well” this month. You’ll have to find that out yourself. I’ll just mention the cover story, since the cover image adjoins this blog post. Renewable energy may have found its moment, as ROI on wind and solar projects is starting to exceed some hydrocarbon-fueled projects. Major oil and gas companies are projected to invest US$90 billion in renewable initiatives by 2035.

If you are in the energy industry, please share your experience and forecast for renewables in the comments below.

Now here’s a project for you to propose to your executives. How about developing a plan for when things do go wrong—a risk management approach. In a “Getting It Done” column in August PM Network, Alexander Strazmesterov, PMP, takes readers through seven steps to help you develop a risk management blueprint and implement it successfully—as a project.

1. Form a knowledgeable team, develop a charter and agree on roles and responsibilities, including how to involve decision makers.
2. Establish a phased approach, allowing upper management to give feedback at specific times.
3. Analyze the current situation. Be honest and thorough when examining your organization’s risk management, risk attitude and behaviors.
4. Tailor your approach according to the size of projects.
5. Take a test drive via pilot projects on which elements of the new risk management approach can be tested.
6. Develop a training program that’s practical and suited to various stakeholder groups.
7. Ensure a facilitated implementation, once the approach has been verified through pilot applications.

A thorough update of organization-wide risk management processes, says the author, can benefit every project executed by your employer now and into the future.

There are many parts of the world right now where stability is not a given and the only sure bet is uncertainty. One of those places is the United Kingdom. The U.K. government’s March triggering of the formal process to leave the European Union within two years has led to fears of major impacts on projects both locally and across Europe.

Many U.K. organizations have experienced delays in decision making. They are wondering how Brexit will reshape regulations, labor markets and currency rates. These delays sometimes have brought projects to a halt. Talent-shortage worries are a concern as well.

Some are predicting that transformation specialists and compliance specialists will be in high demand as multinational organizations deal with Brexit.

Read all about this important topic in August PM Network. Are your projects affected by this uncertainty? Please let us know in the comments.

Maybe in another time long, long ago, we had the luxury to take a little time before making a critical decision. We could weigh the pros and cons and, then and only then, pronounce our verdict.

Well, those times are long gone. Especially in today’s business climate, a project manager needs to make important decisions not tomorrow, not one hour from now but right now. August PM Network has a feature article that will help you create the systems that make lower-risk snap decisions work out. Experts say meticulous preparation and clarity of governance are essential to keep things moving in the right direction when quick choices need to be made. For example, knowing whether the authority lies with the business team or the financial team is most helpful.

How do you prepare for the necessity of making snap decisions? Please share your techniques in the comments.