Unlock the Value of Artificial Intelligence
Calculating Project Value,
Nontraditional Project Management,
Categories: Agile, Benefits Realization, Best Practices, Calculating Project Value, Change Management, Complexity, Innovation, Leadership, Leadership, Nontraditional Project Management, Portfolio Management, Program Management, Project Delivery, Project Planning, Project Requirements, Roundtable, Strategy
By Peter Tarhanidis
Artificial intelligence is no longer a tool we’ll use on projects in the future. Right now, many organizations are formalizing the use of advanced data analytics from innovative technologies, algorithms and AI visualization techniques into strategic projects.
The maturity of advanced data analytics is creating an opportunity for organizations to unlock value. The McKinsey Global Institute estimates AI’s global economic impact could climb to US$13 trillion by 2030.
As an example, in the healthcare industry, Allied Market Research reports rising demand for data analytics solutions due to the growth in data from electronic health records, among other factors. The global healthcare analytics market was valued at US$16.9 billion in 2017, and the report forecasts it to reach US$67.8 billion by 2025.
The Evolution of AI Maturity
Everyday examples of these solutions range from simple automated dashboards, remote check deposit, Siri-like assistants, ride-sharing apps, Facebook, Instagram, autopilot and autonomous cars.
Tips on Successful Transformation
As a project leader, take these steps to avoid key pitfalls:
Please comment below on what approaches you have taken to enable advanced data analytics in your role or in your organization.
Business Transformation in Disguise
By Jess Tayel
In the quest to uplift capabilities, better serve customers, improve the bottom line or acquire market share, organizations rely on a mix of projects and programs.
Some projects are scored as critical and complex. Some organizations have a clear and defined scoring system of what is critical and what is not, while others settle for a subjective measure.
But even after you’ve determined a project is critical, there’s more to consider.
Is it Change or Transformation?
When it comes to big, critical projects, ask yourself: Are you delivering a change initiative or a business transformation initiative?
Why is this distinction important? Because they both have different characteristics that dictate how they should be brought to life.
Change initiatives execute a defined set of projects or initiatives that may or may not impact how things work across the entire organization. Examples include introducing a new payroll system, moving into a centralized shared services model or executing an office move.
Business transformation, however, is a portfolio of initiatives that have a high level of interdependencies, leading to change across the organization. They’re focused not just on execution but also on reinventing and discovering a new or a revised business model. That model is based on a significant business outcome that will determine the future of the organization.
With that in mind, business transformation is more unpredictable and iterative, and it’s about a substantial change in mindset and ways of doing business. The “how” may not be as defined as it is in change initiatives, which means you need to try different methods and be more experimental.
Set Your Organization up for Success
Because of these distinctions, business transformation should never start with finding a solution, i.e., bring in this technology, hire this firm, change model X to Y. It should instead focus on the following:
You may say that these questions can be part of the initiation phase. But in my 20 years of experience around the globe, I have rarely seen the above steps executed diligently from a customer centricity point of view before teams start to dig for a solution.
That said, time spent clearly articulating those elements is well spent and directly contributes to the success of the transformation, while reducing rework and change fatigue. It’s like spending time to sharpen your saw before starting to cut the tree.
In my next post, I will talk more about what is required from the leadership and internal transformation teams to facilitate and create success.
Feel free to comment below and send feedback; I would love to hear about your experiences with business transformation
by Dave Wakeman
I’ve been doing some reading on leadership. I don’t know exactly what brought the topic to mind, but I think it’s a combination of coaching my 9-year-old son’s soccer team and seeing institutions struggle to get people to take responsibility for their actions.
As project managers, you are leaders in your organization and your team. That’s why I wanted to highlight a few leadership lessons I learned coaching a bunch of 9-year-olds—lessons you can apply to your teams.
Simplify Your Message
When we were coaching our soccer team, the other parent coaching with me came up with the 3 Ps that symbolized what we wanted our kids to learn over the course of the season.
Those Ps were:
Each P represents a principle we wanted to teach the kids about life and soccer. Passing was about being a good teammate and recognizing that you have to work together.
Possession was about paying attention to what is going on around you and making the proper decision.
Pressure was about taking action and initiative.
You can see how much these things apply in life. What would happen if you broke your own message down into a simple format? Maybe even 3 Ps for your project?
In a lot of businesses and teams, people love responsibility but never want to make decisions. In coaching youth soccer, you learn pretty quickly that if you don’t have a plan and you don’t act with intention, the kids will run all over you. I think the same happens in projects without strong leadership.
If you aren’t acting quickly and decisively, your team can start taking actions that are inconsistent with your goals and ambitions. But how do you act decisively, especially when you are operating in situations with little clarity?
Four steps stand out to me:
Recognize the Buck Stops With You
The most important thing in coaching and project management is that you have to be responsible—win or lose, succeed or fail. You have to take ownership of the outcomes you produce, no matter what.
Why is this so important? Because when a team doesn’t have a strong talisman to identify with and look to for support, it can create a situation where the team underperforms, has a lot of disagreements and doesn’t meet its goals.
The best way to accomplish this is to be decisive, as mentioned earlier, be clear in your communications, and be consistent in your demands and expectations.
If you do all of that, you will hopefully find that you are not just a project manager, but a project leader.
Have you found a way to distill your leadership strategy into a simple message for your project teams? Please comment below.
By Ramiro Rodrigues
Recently, an acquaintance pointed out to me that the projects environment is susceptible to chaos. In his view, all it takes is a lack of effective leadership. If leaders aren’t constantly focused on solving the problems that occur in an environment of resistance and change, chaos will take place. After 20 years of professional work on corporate projects, I couldn’t disagree.
Obviously, the forces that pave the path to chaos in projects are not exact, but rather derived from human factors. Without adequate leadership, distinct interests, personalities and priorities will drive any corporate enterprise to disorder and, consequently, failure.
But if chaos has already taken hold, is there a way to reverse it?
In order to determine an effective solution, you’ll need to research and analyze the environment. Here, I present a practical and relevant framework for projects in this situation:
Step 1: Investigate carefully and critically all the variables that are exerting power in the project. These could include the political context, governance, financial and operational applications, organizational models, skills and the human characteristics of those involved.
Step 2: Based on these investigations, develop a list of items that are bringing negative interferences to the success of the project and seek to prioritize them with the support of the project sponsor. Consider all the layers of issues that are creating turmoil on the project.
Step 3: With the list in your hands, develop a proposal of actions aimed at the effective recovery of the items. The tip here is that one should be attentive so that the proposed actions to recover the specific items do not divert at any time from the ultimate goals of the project.
Step 4: Validate whether the project sponsor is truly engaged and committed to making the proposed recovery plan viable. Without their engagement, the effort will be worthless.
Step 5: Execute the recovery plan as a parallel project, albeit one related to the original project. In this stage, it is important to implement best practices of project management, such as status meetings with the analysis of obtained results and clear communication with those involved.
It’s obvious this process will require more effort from the leadership, but if the sponsoring organization is committed and interested in project recovery, the investment is justified. And in this context, the project manager will have a great opportunity to demonstrate his or her resilience and ability to overcome challenges.
Have you turned around a project in chaos? Share your experiences below.
by Christian Bisson, PMP, PSPO, PSM
In agile, users are everything. So it only makes sense that users—anyone who will use or interact with your product—should be a team’s main focus. In order for the product to be viable, whatever is produced must bring them value.
But it’s perhaps too easy to forget users when you build your backlog. We often jump too quickly to features, assuming “the users will use this.” But what if we took a step back? Consider taking the following steps:
First, for whom is this product intended? Identifying a target audience will help you determine who you’re building for.
For example, if you expect users who aren’t tech-savvy, then you need to be mindful of how complex the interface or even the wording are throughout.
It’s important to describe these users. One common practice is to create “personas,” which are fictional characters that represent the users. These will help you better understand your audience.
Now that we know our audience, what are they trying to achieve? Instead of jumping from personas to features, stop and think about their goals.
Are they trying to purchase something online? Are they trying to fetch information? Are they trying to plan a trip? The answers to these questions will shape your direction.
We know who is trying to achieve what. The next key step is to define “how” the users are going to achieve their goals.
Let’s assume the user wants to purchase a toy. That user will most likely need to:
Let’s keep it simple. We can extrapolate that this user might be interested in items related to this item, or many other scenarios, but for now, the above is our user’s steps.
Once this is clearly defined, it is much simpler for:
I’ve seen too many teams skip these important steps. Often, people are so quick to execute what is instructed by managers, or by assumptions from the team, that they forget to think about who they are building the product for. The user, of course, will ultimately decide the product’s success. That’s why it’s so important that our product brings value to users.
What do you do to focus on users? How do you verify if you are bringing value to them? Share!