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?
By Jen Skrabak, PMP, PfMP, MBA
As we close out 2019 at work, wrap up projects, and plan to spend time with our families for the holidays, sometimes we forget this is the best time to prepare for the year to come. Here are my five tips to get you in the mindset:
1. 2020 starts now.
The traditional thinking is that nothing happens from Thanksgiving to New Year’s since hiring managers and companies are preparing for the holidays.
The real situation is that everything happens at the end of the year. Companies are busy preparing for next year, and, from personal experience, November/December has been the busiest time for recruiting senior-level portfolio/program executives. Hitting the ground running starting Jan. 1 means that 2020 starts now.
Key questions for you to start your 2020 planning:
2. Ladder up your experiences and skills.
The traditional thinking is that a career ladder is about getting a new title at the next level with a higher salary.
The real situation is that building your career is about learning agility and building a repertoire of experiences and micro roles. If you’ve been in program or portfolio management for seven years or more, it may start to feel that you’ve “been there, done that.” To get to the next level of experiences, ask yourself: In 2020, how will you learn a new skill, gain a new experience or learn from someone?
3. Transformation must be visible.
The traditional thinking is that transformation is about organizational change management, which is mainly instituted through a variety of communication methods and channels (memos, town halls, workshops, staff meetings, etc.). In a recent viral stationary bike ad, the woman depicted before and after the transformation looked the same—many people had issues with the cognitive dissonance where she said that her life changed so much, but the change was not visible.
The real situation is that transformation is more than just communication. Instead of telling people what the change is, the approach should be to actively demonstrate the change so people can experience it. Transformation at the organizational level is about behavior change.
When I implement a large-scale organizational change, I personally lead up interactive training sessions to teach people about the change, as well as follow-up sessions where I’m hands-on in mentoring and coaching people on the new skills. It’s a great way to get real-time feedback about the change, and most importantly, to be seen as the expert coach within the organization enabling the change. This has been very effective in building trust and credibility in the organization.
4. Create space.
The traditional thinking is that when you see a good idea for a program, go implement it—quickly—to take advantage of speed to market.
The real situation is, just like a cluttered drawer that you keep adding to, a portfolio can be cluttered if not systematically managed. From a personal standpoint, I had to move recently, and I was surprised at how many things I found in the back of the drawer that I forgot existed. When I emptied it out and scrutinized every item, I discovered that 30-40 percent of the items were not needed or were no longer useful since they were damaged, broken or just plain outdated. By getting rid of items, I created space for new items and technology, just like in an organization.
The steps to portfolio management in an organization are:
5. Volunteer for your next role.
The traditional thinking is that your manager assigns you the next program or role.
The real situation is you are responsible for actively managing your next role. You should tell the right managers and other leaders what you would like your next program or role to be.
Don’t wait: What is your plan for starting 2020 now?
By Peter Tarhanidis, PhD
I’ve been fortunate to have a career that constantly challenges me and my team to apply new approaches to achieve an organization’s mission. I believe that adapting these contemporary management practices and innovative operating models has helped me become the project leader I am today.
Below are select project initiatives that have helped me develop my skills:
What themes have you identified in your career? How have you broadened your range?
By Wanda Curlee
PMI is celebrating its 50th anniversary this year, an occasion that has led me to reflect on projects from my past. While I don’t have 50 years of experience, I do have 30.
Over those years, I have been a project manager or project team member across many industries. But by far, I’ve learned the most on Department of Defense (DoD) projects. In fact, my very first project was a DoD project. I’ve found that in this industry, the project manager is responsible for all aspects of a project. And when I say all, I mean all.
The project manager needs to understand the contract from beginning to end. From my first federal project to the most recent one, the contract was well worn, as I would look at it many times a day.
On a federal project, there are various sections of the contract. For example, Section B describes how the supplies or products are to be formatted and supplied. Section C is always the statement of work (SOW). Other sections provide the names of administrative and technical contacts, how invoices should be formatted, when the invoices need to be submitted and what supporting information is needed.
There is a section that lists all the rules, regulations and laws that the contractor must follow and obey. This list usually runs more than five pages, printed on both sides and single-spaced.
The statement of work is also always very detailed. Think about a contract for a nuclear submarine, an aircraft or some other vessel—the SOW would be tens of thousands of pages. While I never managed those types of contracts, I did oversee some pretty intense technology programs, where the SOWs were thousands of pages.
I learned that having a team I could trust was instrumental in delivering a complex project. Trust meant that the team understood the needs of the project. They knew when deliverables were due and what the client expected, and they kept everyone informed if there were issues or delays. The team also kept detailed records and updates. This meant the project manager should never be blindsided, and with that, neither should the client.
Of course, I did not learn all this on my own. I had a wonderful boss/coach who saw my potential. He took the time to explain why things were happening the way they were. I was allowed to work in different departments to learn how each area affected the project. To this day, I am very thankful, and I pay it forward. I have always taken the time to mentor and coach those on my project teams or in organizations I ran. The greatest reward was to see those I mentored surpass me in rank within the organization.
When I think back to the moment where I earned my chops, it was a U.S. Air Force project to design a paperless office and non-hackable email system. Don’t laugh! As you may have guessed, the initiative was not successful. Within two years, the government canceled the project. But one thing I’ve learned over the years is this: Unsuccessful projects provide a wealth of learning, maybe even more than successful projects.
What have been the most influential projects you’ve worked on throughout your career?
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.