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Viewing Posts by Lung-Hung Chou
Program Managers Can Be An Organization's Top Salespeople
Categories:
Program Management
Categories: Program Management
It's usually up to the sales representatives and executives to pique the interest of potential investors or partners in a project. But program managers are in a prime position to offer unique insights into project proposals:
But program managers should also be justifying and arguing the long-term benefits of their new projects -- not relying on others to do that for them. Program managers have a duty to do more than ensure projects under their supervision are completed on time and on budget. Program managers have a lot more authority and opportunity -- and therefore responsibility -- to further the strategic objectives of their organization than a project manager. Program managers need to realize they're a catalyst -- someone who should be open to new opportunities, ready to explore new business ideas and enable their organization to move forward. From this viewpoint, program managers resemble salespeople. They have a duty to sell a vision for the future to their senior management and all their stakeholders. What do you think? Should program managers act as salespeople, too? Read more posts from Roger. Find out more about the Program Management Professional (PgMP)®credential. |
Social Responsibility in Program Management
| Program managers are looking to the future and how best to serve business -- and society -- in a more responsible way. Global trends in corporate responsibility now include sustainable energy, combining improvements in efficient use of energy and renewable energy sources. Enterprises that join this trend will likely prosper. Program managers are responsible for aligning an enterprise's business with its long-term strategy, and for sensing emerging trends that need to be embraced. "Green" technologies, for example, are one such trend program managers should recognize and plan projects and programs around. Organizations like Nike, Taiwan Telecom, Delta and Corning have recently built "green" factories, for example, using such technologies. If program managers don't follow worldwide trends like this, it will affect the organization's long-term ability to compete and prosper. In this way, program managers echo the role of the program management office (PMO). The PMO and the program manager are the main force for business strategy alignment. They adjust the resource allocation and business priorities within projects and programs by launching projects they believe fit the organization's business strategy, and stopping those that don't. The best that we have to offer in our profession is to be forward-looking and socially responsible. What are you doing to be socially responsible? |
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? |
Can Project Management Maturity Fuel Great Ideas?
Categories:
Program Management
Categories: Program Management
| My last post discussed how project portfolio management helps organizations achieve their objectives. Now I want to discuss how such success is possible. Achieving project management objectives relies on the maturity of project management understanding within an organization. It's not about the skills of the individual project manager. Rather it's about the organization's understanding of what is possible with project management. Apple is one organization making effective use of such maturity. The company has a reputation for delivering quality products by combining superior design with technology -- not focusing solely on innovation. With the iPhone and other iOS products, Apple gained a larger share of the market -- not by sacrificing its distinction as an organization, but by transforming it. Apple's product designers balance technology with humanity. While designers are both rewarded and pushed into continually brainstorming, researching and testing new ideas, the focus is on usability and simplicity. Apple's project teams worked out a way to "make the magic happen" through project management maturity. Organizational project management coupled with Apple's creative environment paved the way for achieving project successes and organizational objectives. The project to develop the iPhone grew from the iPod; the App Store grew out of the opportunities the iPhone provided. Their maturity was not only due to Apple's management skills, but grew from developing its own project management methods. Apple's strategy, fueled by its maturity, allowed these and other projects in the company's portfolio, to be managed with a greater chance of success than its competitors. As with all well-run organizations, project management maturity facilitates the implementation of ideas. What do you think? Does project management maturity spark great creativity? Editor's note: See more on project management maturity. |
Tips on Project Portfolio Resource Allocation Courtesy of James Bond's Boss
| The new year has arrived, and some senior managers may face the pressure of troubled projects. Which projects must be scaled down? Which should get more support? Which should be canceled because market conditions have changed? Portfolio management demands these kinds of tough decisions. In the 2006 version of the James Bond film, "Casino Royale," for example, the character named M is responsible for managing military intelligence projects and programs. She has to make the best use of the resources under her governance, whether they are programs or projects. When one of her projects is out of control, she corrects the deviation by removing resources and support -- in this case, from Mr. Bond's personal revenge-oriented task -- because it may not align with the organizational objective. In the meantime, she also has to define what each operation or action should achieve and in what way. Should it be an interception done secretly by the SWAT (special weapons and tactics) teams or a detainment in a sumptuous gambling casino? It all depends on what effects an action aims to achieve and at what costs. The basis of portfolio management lies in its top-down logic. Depending on what objective you want to reach, you combine the resources and organize the projects and programs to move toward that direction. When it comes to personal investments, people often combine different products and methods to gain the maximum benefit based on the risks and available financial resources. Similarly, project portfolio managers consider the resources that should be allocated to projects and programs based on what risks and benefits they can generate for an organization. Programs and projects sharing similar risks or benefits may be put together for better management. The grouping facilitates decisions on further investments and resource allocation, as well as adjustments amid changing market conditions and organizational strategic plans. By following effective project portfolio management processes, you can put together a business operation that makes your investment objectives more achievable. Just like M -- but leave the SWAT team at home. |