PMI Global Insights

By Greg Githens, PMP

I was trained in the sciences and have always liked this quote from the British scientist Lord Kelvin -  

“When you can measure what you are speaking about, you know something about it. When you cannot, your knowledge is of a meager and unsatisfactory kind.”

In this article, I apply the spirit of Kelvin’s quotation to the concept of business acumen. Because many people use it as a gauzy and subjective buzzword, we will all benefit from a better understanding.

We begin with understanding acumen as a general topic. Then, we will examine the specific topic of business acumen.

A person with acumen is sharp minded. The word’s direct Latin ancestor is the verb acuere, which means “to sharpen,” and a related Latin noun is acus for “needle.” Sharp needles are very useful tools for tailors and physicians, and the analogy extends to strategic thinking. A person with acumen is sharp and able to penetrate a complicated system.

Many people incorrectly associate the word acumen with the word accumulate or Cumulous (clouds), which draws from the Latin, to pile up.

The lesson here is, remember that acumen is like acupuncture. It is an ability to penetrate a topic to deliver benefits.

The bLAID framework for evaluating acumen. The bLAID framework unpacks business acumen into four elements.

business Literacy – Just as a literate person can distinguish fiction from non-fiction, a business-literate person knows the principles of accounting, finance, operations, human resources, and the like. Business literacy resembles book-learned knowledge. Business literacy is a baseline of understanding. It is not the same thing as acumen.

Since the topic is business acumen, I made the “b” lowercase, which allows us to distinguish other kinds of acumen; for example, project literacy, financial literacy, or technology literacy.

Analysis – A necessary step in showing acumen is to probe the situation. (As mentioned above, the “acu-“ part of the word acumen relates to penetrating.) A skilled analyst can probe quickly and intuitively. A less-skilled person may require more time to identify the crux of the business issue. Regardless, acumen is fundamentally a concept of achieving a better understanding of the situation and not accepting mediocre and conventional explanations.

Analysis naturally leads to insight.

Insight – Everyone has had an insight: a sudden realization of a better explanation of a situation or a resolution to a challenging issue. The activities of analysis and reframing naturally tend to generate insights.

The insight sparks some initial design ideas. As you further refined those ideas you improve the quality of your solution.

Design – Design is an iterative activity that starts with the insight, generates options, and refines the solution space.

Evaluating a group of executives. I was once invited to help a not-for-profit community organization with its strategy. An important element of this example is that this organization was floundering. If the Board could not provide leadership and value to the community, the organization would cease operations.

I met with the members of the Board. As a discussion starter (and as an assessment of their business acumen), I needed an icebreaker exercise. I asked each member to answer this question.

A philanthropist is willing to grant your organization a significant amount of money. How (and why) would you invest that money to best benefit your organization?

Each person wrote a few sentences, which we returned at a later meeting. I contend that the answers reflect the business acumen of the person. The bLAID framework provided some guidance on what to look for.

The best answer was this: ask for a grant of $100,000 and use it to hire a full-time administrator for the organization. It was a good answer because it addressed a large specific challenge for the organization: the current ad hoc, part-time, volunteer structure was not efficient or impactful.

The other answers were narrow-framed, and uninspired. The ideas would only result in incremental improvement of the status quo.

Subjective measures are common (and acceptable). While objective, quantitative measurements are desirable, the fact is that we can and do accept subjective measurements.

One example is in the judging of gymnasts. Most of us have seen the Olympics and watched the feats of gymnasts. At the end of each routine, we see judges posting their individual ratings up to the perfection of a 10.

Another is the judging of dog shows, where there are awards for best of breed and best of show.

We accept as valid the winners of gymnastic competitions and dog shows. The reason is that, firstly, there is an understanding of what makes for good quality. Gymnastic routines require certain kinds of movements and challenges. Judges grade the dogs on their conformity to breed standards.

Business acumen scoring models. I evaluate business acumen though assessing five qualities.

First, I do a general assessment of competence, which I define as “the ability to understand a situation and act reasonably.” In the above example of the not-for profit, the best answer also reflected an understanding of the reality of the situation: this organization was struggling and not getting sufficient attention from its Board.

Second, is an assessment of the proposed design. Is it plausible?

Third, is the scalability of the design and the positive impact on stakeholders. This was a strong factor in finding the best solution in the above example of the not-for-profit organization.

Ingenuity is the fourth criterion of the model. Insight reveals itself in ingenuity of solutions.

Lastly, I look to see if the proposal creates options for future action. This was also a benefit of the best solution in the above example.

Want to learn more? Join me on 7 October in Session #428 at PMI’s October Virtual Experience Series Event to learn more about measuring business acumen. Further the dialogue by taking part in the discussion threads with me and the rest of the PM community.

According to Prudential Financial’s Pulse of the American Worker survey, 1 in 4 workers are preparing to look for opportunities with a new employer once the pandemic threat has subsided. And more than 40% of people who responded to Microsoft’s Work Trend Index, a global survey of over 30,000 people in 31 countries, said they are considering leaving their employer this year. Article after article, discuss employees leaving their jobs, seeking new opportunities with organizations that will provide more career advancement, substantial employer-related benefits, healthier work-life balance, better company culture, and remote work options. If you have been questioning your current role in project management, you must attend PMI’s upcoming Virtual Experience Event 6-7 October to help you navigate your career pathway.

In addition to attending inspiring sessions featuring Fatima Ibrahim, Global Citizen's UK Hero of the Year, Gitanjali Rao, Young Inventor, Author and TIME Magazine's 2020 Kid of the Year, and Jordan Chanesta, LGBTQIA+ Rights Activist, who come together to discuss spearheading impactful global movements to make real change, PMI’s Virtual Experience will debut its CareerHUB to help you with your career change. The CareerHUB helps you at every stage of their career journey.  Based on your experience, it will offer a wide variety of professional tools, resume building and advice to help future-proof your career. By attending the Virtual Experience Event in October, you will have access to all the tools available within the CareerHUB such as the CareerHUB Theater, Career Expo, and Career Navigator.

CareerHUB provides access to PMI’s “Brand You Theater: to help define yourself as a successful project manager and the best ways to promote career-boosting content. “Brand+Brain+Wellness” topics are 15 minute On-Demand sessions to help you prepare for your next job in project management. Sessions include “Building Your Brand: What’s Your Value Proposition” to help you develop a plan that will help you to stand out and define your unique value proposition; “Plan Your Career Flight Plan” will help you to create an actionable career plan and goals to improve or enhance their professional journey; “How to Amplify Your Resume/CV will help you showcase your best self in your resume and online presence;  “How to Interview Like a Pro” will provide helpful tips to be better prepared and confident for an interview.

Career Navigator focuses on personalizing a career path for you based on your previous experience. You can enter all your previous jobs, projects, and skills with a free assessment to receive a personalized action plan that matches you with the perfect growth opportunities. By identifying your aspirations and career goals, Career Navigators builds a complete picture of all elements you need to achieve your next step in your project management career.  This platform also allows you to track your success and see your development from week to week, so you see how you are growing towards your goal.

Finally, Career Expo allows you to create a profile to promote your resume and successes so hiring managers can find you easily. With Career Expo, you won’t miss an amazing opportunity!  You can browse available job postings from companies looking specifically for project managers and apply for open positions that fit your career goals. Career Expo also provides an opportunity for you to connect live with companies on the event day.

We are so excited for this powerful virtual event because we know how much change happens when our incredible community comes together from around the world to share these experiences. We are sure you will become inspired about your role in project management and learn how to make your next career change.  

Join us.  Free for PMI Member, US$79 for Non-members. Register Now and we look forward to seeing you there!

As offices thought they had a plan to get back to offices in September and October, plans have been delayed. If these past 18 months haven’t been hard enough, now your organization needs to transform its business to adapt and succeed in the new normal world. Equipping leaders to quickly anticipate and react to the speed of change is one of the most challenging issues for organizations. At this point, burnout and attrition are other key challenges faced by organizations today. Do you need inspiration on how other project managers are dealing with change? If you do, you need to attend PMI’s Virtual Experience 6-7 October to rejuvenate your project management skills and learn from leaders to think differently so you can lead your organization through an ever-changing environment!

Hear from prominent rising leaders around the world who are spearheading impactful movements to determine what is needed to make real change. These inspiring sessions will help you to think differently and look out of the box to develop the solutions needed for your organization. PMI’s Virtual Experience has brought together a diverse group of influential speakers to share their experiences and outcomes. Get inspired by Fatima Ibrahim, Global Citizen's UK Hero of the Year, Gitanjali Rao, Young Inventor, Author, and TIME Magazine's 2020 Kid of the Year, and Jordan Chanesta, LGBTQIA+ Rights Activist, come together to discuss spearheading impactful global movements to make real change. Hear from author Peter Hinssen as he discusses his book, The Phoenix and The Unicorn: The Why, What and How of Corporate Innovation, and how organizations aren't afraid to reinvent and adapt to the new normal of digital disruption.

Join breakout sessions to hear how other project management leaders are managing change and learn from their best practices and mistakes. Sessions include:

• Measuring the Maturity of Your Digital Transformation Efforts: Christine Aykac,  Transformational Coach, Akuna Consulting
• Tools to Identify and Fix Trust Breakdowns in Project Teams: Yoram Solomon, Founder Innovation Culture Institute, LLC
• Change or Get Left Behind: Why Organizational Change Management Is Imperative Now: Nancie Celini, President, THINK-OCM.org
• Collaborative Leadership in the Age of Artificial Intelligence; Erik Agudelo, Founder of Play Learn and Develop.

In addition to all the great sessions and speakers, Virtual Experience Series 6-7 October has multiple ways to connect and network with the PMI global community. The Lounge chat is where you will meet attendees from all around the world. Join industry chats where you drive the conversation! Chats are focused on the following areas: Construction, Energy (Electric, Gas, Mining, Oil), Financial Services, Government/Legal, Healthcare/Pharmaceutical, IT, Manufacturing, Telecom, and Training/Education.

We are so excited for this powerful virtual event because we know how much change happens when our incredible community comes together from around the world to share these experiences. We’ve had past attendees tell us they’ve never felt more connected virtually — and that is something we are truly proud of and will continue to strive for.

Join us. Free for PMI Member, US$79 for Non-members. Register Now and we look forward to seeing you there!

By Carmine Paragano

I recently presented at the PMI Virtual Experience Series event held on 2 June.  This was a great event with featured speakers, exhibits and networking activities.

My presentation was entitled “From Organizational Agility to Business Agility: A Real Experience of Digital Transformation” and focused on how business agility demonstrated from within the team brought about significant value to the company, while respecting the guidelines but focusing on value creation based on a unified culture. It was necessary to not only cultivate an agile mindset but tailor new ways of working. Agility has been evolving from the Lean and the Agile Manifesto and has been applied throughout the company. It was also important to understand methodologies and the context in which they can support a transformation.

During my presentation, several great questions were raised that we didn’t get a chance to cover. I am including some of them here along with my responses.

Q:  How relevant was the Agile mindset being multi-and-hetero-cultural?
A:  Agile mindset is the key for the success of an Agile adoption. Using tools and methodologies without understanding the value they bring is not useful and can create a lot of problems during the transformation. It’s recommended to spend a lot of time setting the mindset.

Q:  What about Agile methodologies?
A:  Methodologies can support the transformation. According to Disciplined Agile, context counts and different methodologies can be applied. It’s relevant to know the different methodologies to choose how to support the value creation.

Q:  What tool was used during continuous improvement?
A:  Continuous improvement is the key to applying the agility starting from the approaches like Guided Continuous Improvement or the relentless improvement. Some tools can be adopted in accordance with the context, especially in global projects.

Q:  How relevant was the role of glocalization?
A:  Glocalization means balancing global with local. It’s the key for maximizing the value that can be shared globally and customized locally. It’s very difficult to set the perfect balance, but the continuous improvement can support the right set.

Q:  What was the biggest problem you encountered during the project?
A:  The main problem related to this experience was how to spread the mindset to all the stakeholders, spending time sharing as well as leading by example.

I had a great time presenting, and the full presentation will be on demand through 31 January 2022.  Visit PMI Virtual Experience Series 2021 for more details.

By Geetha Gopal

Last week, I was invited to the PMI Virtual Experience Series event held on 2 June 2021 to share my thoughts on the impactful topic of “Driving Innovation through Diversity.” It was a wonderful session with Idan Tobias, and we discussed why we think a Diversity, Equity and Inclusion (DE&I) mindset strengthens project and organizational performance.

Idan had a great set of thoughtful questions such as what the role of DE&I in driving innovation was, and what is one piece of advice I would give to project leaders on this topic, to recount a few. We deliberated on the strong influence of cognitive biases and the results of various studies which indicate that being aware of and acknowledging them is the first step in addressing them. I shared that I am always keen and willing to explore the unknown and untried, take up projects and solutions that are risky as long as their benefits outweigh the risks. In recent times, we have seen organizations setting DE&I as key goals which are more inclined to gender, racial and sexual diversity. I highlighted that generational diversity is often overlooked and must be considered as well. There are at least five different generations in today’s work environment, so we must be inclusive in that aspect too.

We discussed examples of organizations whose inclusive culture has resulted in their tremendous growth. As leaders we can embrace diversity by creating the right atmosphere in our teams and organization, so that anyone is able to adapt, perform their best and complement the system. Open communication, addressing concerns, promoting awareness and having a feedback culture will positively influence and make it sustainable. We also discussed on how active learning, curiosity and diversifying our skillsets will help us to grow as individuals.

During the session, there were interesting questions from the participants, and I am sharing a few of them along with my response.

Q: Would cultural diversity foster creativity in a project team and what are the factors that are needed?

R: Cultural diversity WILL increase creativity in projects. I see it as a kaleidoscope whose different views make it even more beautiful! As Idan says about his own experience coming from an organization which fosters diversity, they have seen an increase in employee participation and their overall growth has been tremendous. What's needed to encourage cultural diversity is first understanding our setup. If we don't measure, we don't know where we stand.

Q: Which is first - diversity or inclusion?

R: Inclusion comes first for me! As humans, it’s in our natural self to go out of our way to support those who make us feel included... Humanizing is a very important step in driving inclusion. Giving opportunities to those with the right attitude, willingness to learn and go the extra mile will see better results that hiring purely for technical skills.

Q: Would the speakers agree that disciplinary diversity (think cross functional teams) presents a great metaphor for cultural diversity? We're able (at least sometimes) to appreciate differing perspectives in cross functional teams in these situations and we can apply that sort of awareness sprinkled with cultural humility to our conversations and project interactions.

R: Yes, absolutely! That’s a great perspective! To give my own example, we see this all the time in IT projects where non-technical project members are as important as the technical ones, but this inclusion is not natural. The generic balance they bring to highly specialized discussions is important, and so is the disciplinary diversity aspect of it. We will miss out by excluding such diversity. I firmly believe that this is also a cognitive bias that is prevalent in practice and must be acknowledged and addressed.

It was heartening to see so many positive responses on our views. Here are some of their comments:

“I think it takes an open mind. Not everyone is willing to share with other people of different identities. (To assure ourselves that we) are not to be afraid.”

“Sometimes the obstacles to overcome are ourselves/our biases.”

“Humanizing the experience is a really powerful idea.”

“(The) danger is shutting people out by considering people ‘too old’ (with) age discrimination.”

Overall, I had a great experience, and the full presentation will be available on demand through 31 January 2022.  Visit PMI Virtual Experience Series 2021 for more details.