Plan for the Velocity of Change to Keep Increasing!
Human Aspects of PM,
Categories: Agile, Best Practices, Career Help, Change Management, Complexity, Facilitation, Generational PM, Human Aspects of PM, Human Resources, Innovation, Innovation, IT, Leadership, Leadership, Lessons Learned, Portfolio Management, Program Management, Project Planning, ROI, Stakeholder, Strategy, Talent Management, Teams
By Peter Tarhanidis, Ph.D., M.B.A.
Today, developments in emerging technology, business processes and digital experiences are accelerating larger transformation initiatives. Moore’s Law means that we have access to exponentially better computing capabilities. Growth is further fueled by technologies such as supercomputers, artificial intelligence, natural language processing, Internet of Things (IoT) and more across industries.
Business Process Maturity
According to market research group IMARC, automation and the IoT are driving growth in business process management (BPM); the BPM market is expected to grow at a 10 percent compound annual growth rate between 2020 and 2025.
Customer experience is redefining business processes and digitizing the consumption model to increase brand equity. Gartner reports that among marketing leaders who are responsible for customer experience, 81 percent say their companies will largely compete on customer experience in two years. However, only 22 percent have developed experiences that exceed customer expectations.
The Way Forward
I’ve developed a few guidelines to help navigate this change:
Change is now inherent and pervasive in the annual planning process for organizations. Given that, I like to ask: What is the plan to prepare staff and colleagues to compete in this hyper-transformation age?
What observations have you made to keep up with this new era’s velocity of change?
Innovation and Design Thinking, Part One
By Lynda Bourne
Everyone is talking about innovation! But to innovate requires two things. The first is an innovative idea, and the second is a process to turn that idea into something valuable. In this post, I will look at what’s needed to create innovative ideas; my next post will look at one of the ways to transform the idea into something useful, even valuable, through design thinking.
The challenge of developing an innovative idea is part personal and part cultural.
The Personal Part of Innovation
Every innovation starts with an idea. So if you want ideas that may turn into useful innovations, you need to allow people time to develop the idea. This may occur in a number of ways:
The Cultural Part of Innovation
If an organization wants its people to be innovative, it needs to create a culture that allows innovative thinking. There are many ways this can be encouraged, so getting the mix right is key. Some of the options include:
Recognition and rewards can help, but they are far less useful than most managers think. The driver for innovative thought tends to be introspective, and when a person has a good idea, self-fulfilling. The real challenge is having an open culture that allows new ideas to come to the fore and be considered on their merits. Systems can help—the old “ideas box” needs to be brought into the 21st century if you want an innovative culture.
Last, having identified an innovative idea, the organization needs to do something with them! More on this next time.
Please share your experiences: How have you sparked innovation within your organization?
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.
by Ramiro Rodrigues
Project managers: Are you sometimes looking to make plans faster but without being superficial and therefore riskier to the project?
Developed in the 1980s, design thinking is a structured mental model that seeks the identification of innovative solutions to complex problems. Although the concept has existed for decades, it’s only made its presence known in the corporate environment over the last 10 years.
Swiss business theorist and author Alexander Osterwalder similarly sought to accelerate collaborative reasoning when he introduced the Business Model Canvas. Canvas helps organizations map, discuss, rework and innovate their business model in one image.
But a series of proposals for the use of the Business Model Canvas for various purposes outside of business models has also appeared — including innovation, corporate education, product development, marketing and more.
For project professionals looking at alternatives to developing quicker and more collaborative planning, Canvas may sound like a great option. Of all the proposals that come up for the use of Canvas in a project environment, integrating stakeholders may be the best. Canvas brings stakeholders into the process and will help to minimize resistance and increase collaboration, resulting in a better proposal for planning problems and making the project more aligned to the interests of organizations.
But while the arguments put forward for Canvas all seem positive, there is still a dilemma: Can Canvas fully replace the overall project plan and the planning process? Is it possible to do without a schedule of activities, a detailed cash flow, a matrix of analyzed risks — just to limit ourselves to a few examples?
That is probably too extreme.
The general sense is that the integration of Canvas with specific planning — such as the cost plan and the risk plan — is the most productive and generates the best results.
It may be worth asking your project management office for their thoughts.
Have you ever used a Canvas for your project planning efforts? If so, what tips can you share?
By Jen Skrabak, PMP, PfMP
Over nearly two decades in project management, I’ve learned a number of strategies to make my voice heard and advance in my career. Much of that success has come by “leaning in,” as Sheryl Sandberg advocates.
As a woman in project management, I believe the following are key:
International Women’s Day is March 8, and this year’s theme is #BalanceforBetter. Please share your thoughts on how we celebrate the achievement of women while we continue to strive for balance for women socially, economically and culturally around the world.