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Why Every Project Manager Should Know About Project Governance
Categories:
New Practitioners
Categories: New Practitioners
| When I first started out, I wasn't familiar with project governance structure. I wasn't alone, though. Apparently in the world of governance, ignorance on the part of the project manager isn't surprising. Project governance helps make sure that a project is executed according to the standards of the organization performing the project. Governance keeps all project activities above board and ethical, and also creates accountability. A project governance structure will also help define a project reporting system. It outlines specific roles and responsibilities for everyone involved in the project. Project managers can leverage a governance structure in their projects to help with setting project priorities. By understanding how governance fits into the larger organization, a project manager can choose which objectives to pursue. Or, he or she can gain support to change objectives that don't align with the overall organizational goal. By monitoring governance, the project manager helps ensure his or her project will stay in tune with organizational expectations and remains a good investment as it continues in its lifecycle. A project manager can also use the steering committees that are part of most governance structures to resolve conflicts. Because steering committee members don't work on the project on a daily basis, the can serve as fresh eyes to see what's causing the conflict and offer an outside voice of reason. They can also offer solutions on how to resolve the conflict and adhere to the standards -- while still sticking to the overall goals of the organization. What do you think? How do you leverage governance structures? |
Cost-down Activity: Portfolio or Project Management?
Categories:
Portfolio Management
Categories: Portfolio Management
| Every project management office (PMO) should perform organizational cost-down activities, whether it's the overall business running cost-down by reducing inefficiencies or the cost reduction of projects or productions. Some organizations think cost-down should be included as a part of portfolio management, while others regard it as just another part of project management. The answer depends on whether cost-down is executed to help realize the organization's objectives. For example, let's take a look at Foxconn Technology Group, a manufacturing giant in Taiwan that manufactures several Apple products. During the bidding process to manufacture the iPad, for example, Foxconn provides a quote to Apple that Foxconn's competitors are unable to match or undercut. Foxconn evaluates different efficiency plans in an effort to cut the price of iPad production as much as possible. The design and specifications of the iPad are fixed. Choice of materials and manufacturing methods, however, can be managed in the way that Foxconn feels is most efficient. Foxconn can research less costly materials, more efficient production methods, and new vendors for less expensive services or components. Foxconn will also look to vertically acquire its competitors or vendors. All of these factors allow Foxconn to calculate from quotes how it must manage production so that manufacturing matches the quote. This is Foxconn's organizational strategy: offering the lowest price to its buyer and attaining the most competitive cost. This example shows how a cost-down activity meets the organization's business strategy of offering the lowest price. In this situation, the cost-down activity is absolutely part of portfolio management. Projects, programs and portfolios are all about executive power. The appropriate use of a project, program or portfolio depends on its function. When a project, operation or task can be performed to further the organization's business strategy, it should definitely be regarded as a part of portfolio management, and not a part of project management. Does your organization treat cost-down activity as a portfolio management activity? |
Pragmatic Leadership in Stakeholder Management
Categories:
Stakeholder Management
Categories: Stakeholder Management
| One of the key roles of a successful project manager is to provide effective leadership to a range of stakeholders, including the project team, suppliers and contractors. But leadership is not as simple as having a position in the organization chart and managing processes. Pragmatic leadership is a choice you make to influence other people's thinking to act in the interests of the project and the organization. Pragmatic leadership adds the power of directed motivation and a commitment to success that significantly improves routine operations within the project and becomes essential when problems are encountered. It's a balance between managing and leading. Management skills and technical knowledge are important in determining the appropriate work, but leadership generates the motivation that translates into willingness to do the work. The art of leadership in project management is developing commitment from your stakeholders -- making the successful completion of your project important to each individual. This needs more than effective management processes. Effective management defines schedules, work assignments and performance criteria. It's about compliance and procedures to ensure quality, safety and other key requirements are met. Management is largely taught and focuses on process skills. Leadership is about creating commitment to the work. A great leader understands the task and inspires the team. Leadership is a more complex process derived from combinations of self-esteem, confidence, credibility, the ability to communicate clearly and a willingness to listen and engage with people. Leadership skills can be learned, but they have to be based within a leader's inherent personal characteristics to be authentic. Leadership adds the power of directed motivation and a commitment to success that significantly improves routine operations within the project and becomes essential when problems are encountered. The bigger the disaster, the more important it becomes to have a committed team-- to survive a major setback, each individual needs to be willing to do what's necessary. How do you see your pragmatic leadership skills developing? |
Mutual Trust: Achieving Success With Your Sponsor
Categories:
Career Development
Categories: Career Development
| Projects can be very complex -- a bit of a jumble of various considerations. As Wendy Mason's comment on my last post suggested, reducing project success to achieving scope, schedule and budget objectives is overly simplistic. Success on a project has to be measured in many dimensions and according to changing circumstances. As Sergio Flores commented, there is risk inherent in every project. There are things beyond the control of the project manager and in some cases project managers simply make mistakes. When a project manager takes on a project, he or she enters into a partnership with the sponsor. The sponsor depends on the project manager's ability to bring the project to fruition, and the project manager depends on the soundness of the sponsor's ideas. They share in each other's potential success and each must be willing to face the risk of failure. It's human nature to inherently push ourselves beyond our limits. The willingness of a sponsor and project manager to enter into a partnership knowing that there are risks is a testimony to this spirit. I believe that the very possibility of failure makes success all the more exhilarating. And because we're social creatures, I believe the possibility of mutual failure makes mutual success all the more exhilarating. Is it a disservice to the sponsor for a project manager to enter into a partnership when there is a distinct possibility of failure? I think not. In fact, I think it would be a grave disservice to decline to do so for fear of failure. At a personal level, I rather like the idea of my sponsor and I betting on each other to succeed. We could lose, sure. But the fact that we could lose, together, makes the possibility of winning together all the more compelling. What do you think about mutual success and failure with your sponsor? |
Finding the Shortest Path to Project Success
Categories:
Teams
Categories: Teams
| What's the shortest possible path from project initiation to completion? You might say it depends on the size of the project or the work involved. But there's always a shorter path than the one you have in mind -- even for larger projects. There's always a solution that makes better use of resources while providing faster delivery times. It's like when you play Scrabble® and come up with a word combination that uses the fewest letters and still gives you the highest point value. Say you walked into a job interview, for example, and you were hired on the spot. Although it seems impossible to get hired just by walking into the room, it's the ability to recognize the possibility that allows you to open yourself up to ideas that you'd otherwise discount. So what's wrong with the way you currently manage a project from initiation to completion? Maybe nothing. But what if you could get there faster? Try asking these questions to help you create the space in which actions towards the shortest path will arise:
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