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 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 Ramiro Rodrigues
I'm 50 years old, which means I was born the same year PMI was founded. The last half century has seen a lot of interesting projects across industries, but today I’m going to focus on one area in particular: cinema.
I’ll start with a question: What swept the Oscars in 1969? You may know it was Oliver!—a British musical based on the work of Charles Dickens. In addition to best picture, the movie also won the awards for best director, musical score, art direction and sound.
The magic of cinema progressed in parallel to the 20th century at large, and I’ve long admired its ability to create fantasies and magnetize audiences. These same capacities evolved as technology and investments provided more technical resources for the enchantment of the audience.
The delivery of a movie has always impressed me, as it has all the ingredients of a project. There is conception, planning, execution, control and conclusion—all with the added complexity of dealing with human emotions even more so than in other business segments.
Today's major productions involve hundreds of professionals, suppliers and deliveries, so they require a well-structured project management model. And if the delivery of a movie provides all these difficulties, imagine what it takes to deliver a saga of 23 films? Well, this was the case for the so-called Marvel Cinematic Universe.
Why should we consider this a grand project? Starting with the first movie, Iron Man, in 2008, you can find several “Easter eggs” referencing the other Avengers. And in the post-credits scene (a practice that started there), Nick Fury appears to talk about the Avengers initiative. Thus begins an intricate sequence of characters and films over 12 years, which translated into the largest franchise and box office phenomena of all time.
If it was not enough complexity to produce a single film of this nature, imagine the magnitude of a long-term project that would involve scores of producers, suppliers and actors. And this was accomplished while delivering a structured and coherent plot that lived up to the expectations of a global audience.
This gives us clues into why more and more cultural producers are looking to specialize in the best practices of project management. These principles have much to contribute to ensure organization and control, without interfering with the magic and emotions that art provides. After all, the show must go on!
I’d love to hear from you. Do you see movies as projects? Share why or why not below.
By Conrado Morlan
I’ve been running for eight-plus years—ever since my son suggested I do a half marathon in San Antonio, Texas, USA. So when a friend suggested I try a triathlon, I was ready for it. At that point, three years ago, I had 10 full marathons and 15 half marathons under my belt.
The triathlon includes three disciplines in a single event: swimming, cycling and running. It was the athletic challenge I needed, similar to the professional challenge I encountered when I moved across industries to keep leading and managing projects.
To get ready for the triathlon, I had to go back to the pool and start swimming after a long time away. I borrowed a road bike from a friend to start the formal training. We worked out on our own on weekdays and as a team on weekends.
That first experience transformed me into a triathlete enthusiast, which led me eventually to the Ironman 70.3. The "70.3" refers to the total distance in miles covered in the race, consisting of a 1.2-mile swim, a 56-mile bike ride, and a 13.1-mile run.
The short distance triathlons helped prepare me for the Ironman 70.3. And as I’ve come to realize, learnings I’ve made along the way also apply to project management. These are my three main findings:
1. Expertise and Experimentation
Mastering all three disciplines in a triathlon can be difficult. My background is in running, but I was new to swimming and cycling. My coach gave good tips and workouts that helped me manage my bicycle on hills, navigate sharp turns and use all of my leg muscles to have a better stroke.
For swimming, I followed my instinct and experimented with the breaststroke. I soon felt confident in the pool and gradually in open waters. My experiment worked out, as I finished my swim in the Ironman 70.3 about 20 minutes ahead of the cut-off time.
As a project management practitioner, you may have mastered an industry-standard methodology and need to catch up with the new trends. In the triathlon, you may not transfer skills from swimming to cycling or running, but in project management, you can.
Communication, time management, and people management are required regardless of the methodology or best practice that will be used in the project. This gives you room to experiment. At project checkpoints, you can inspect, adapt and make the required changes to improve your project and be successful.
2. Transition Is Key
The transition is where the triathlete moves from one discipline to another, changing equipment. The area should be prepared in advance, with the gear set up in a way that helps the athlete have a smooth and fast transition. The time spent there may define the winner of the competition.
I would compare the transition area with the risk registry. The more prepared the project manager is, the less impact there will be to the project. The “gear” in your risk register will include the most impacting risk(s), the risk owner and the actions required to mitigate the risk if it arises. It’s a working registry, so the project manager should keep adding risks during the project as required.
3. Anybody Can Help You
A triathlon is not a team event, but that does not restrict the triathlete from getting support from others. Before the competition, the athlete may have followed a training plan supported by a coach, they might have been mentored by fellow triathletes and, last but not least, they likely benefited from family support.
It’s common for some triathletes to have a race sherpa on the competition day. The athlete and sherpa will discuss beforehand what tasks each will take on during the race. In short, a race sherpa will lend a hand whenever necessary and cheer for the athlete during the competition.
As a project manager, you have your project team, stakeholders and sponsor(s), but that does not restrict you from getting help from people outside the project. You may have an internal or external mentor, somebody in your organization who can be influential and help you address issues. I used to have a list of people in the organization I contacted in advance. I let them know about the project and asked them if I could ask for support if needed. That simple action helped me on several occasions when I faced a challenge.
If you are an athlete and a project manager, what lessons have you learned from practicing your favorite sport? Please share your thoughts below.
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.