Guessing is not a strategy: How to build decision velocity with AI and real-time data
June 10, 2026 | Live Webinar
Determining the Value of Value
| What exactly is value? A Guide to the Project Management Body of Knowledge (PMBOK® Guide) -- Fifth Edition suggests value is a concept unique to each organization and encompasses the total sum of all tangible and intangible value elements. Determining the tangible ones is relatively straightforward and can easily be reduced to a financial return. More difficult is understanding the intangible value elements the project can create -- and identifying low-cost options with the potential to create massive intangible value by creating favorable outcomes in the minds of stakeholders. One simple example is the practice of cutting small viewing windows in construction site fences. The cost is minimal, but the practice delivers value through improved safety because passers-by don't need to stand near the gate to see what's going on. There's also the public relations value of letting the public see the actual progress of the work. The challenge is finding and tracking these valuable intangibles, bearing in mind most of the value will be created in the minds of various stakeholders. One useful tool is consultant Edward de Bono's Six Value Medals:
Based on those, we can perform a "value scan" when determining courses of action within the project and prioritize actions to achieve the values that matter most. Take a simple example. The last office refit covered up a duct in the wall of the CEO's new office. Now your project has to rip the sidewall out to access the duct and upgrade the cabling. Where's the extra value? Some possible medal ideas include:
There are probably other possibilities as well depending on the actual project. How do you assess the value of your project to your stakeholder community? |
Running a Marathon, Running a Project
Categories:
Reflections on the PM Life
Categories: Reflections on the PM Life
| Four years ago, I transformed from weekend warrior to running enthusiast. First, I started running short-distance races, a 5K here and a 10K there. Then I tried my first half marathon in 2009 and my first marathon in 2010. After those great experiences, running became part of my lifestyle. People always ask me, Why do you run marathons? Are you a masochist? You really need to run the race and experience the challenge and pain -- as well as the indescribable sense of achievement when crossing the finish line -- to understand why I run marathons. The feeling is actually similar to when a project manager finally completes and delivers a project. And after running six marathons in less than four years, I have some lessons learned that apply to project management: Hills happen. Up your strategy. Hills complement the race and make them more interesting and challenging. At first sight, they impact the runner's state of mind and even consume his or her energy before the uphill trek. But I like to view hills as an opportunity to slow my pace and save energy that will be required in the final miles of the race. As a project manager, you may face "hills" (i.e., project challenges). You may want to attack them, but I would recommend slowing your pace and regrouping with your team to define a new or enhanced strategy to address the hardship. Stick to the numbers. Marathon runners use gadgets to track time and distance. Sometimes the distance reported by the gadget exceeds the 26.2-mile (42-kilometer) marathon distance, which may be confusing, especially for first timers. But keep in mind that major marathons in the United States are certified by USA Track & Field, the sanctioning body that makes it an official race. The course distance is accurately measured and is the shortest route of the course. Project managers should not attempt to create metrics or rules that may not be aligned with the sanctioning body. Follow the rules that are already in place and do not jeopardize your project. Stay humble. Having run a marathon a couple of times doesn't make you an expert. Even when the course may not change, there are many external factors that can make it a very different race. I have run the Austin, Texas, USA marathon for three consecutive years, and every race has been a different experience. As a project manager, you may have implemented the same enterprise resource planning or tool several times, but every project has its own twist. Do not be arrogant or a know-it-all, and take that new project as an opportunity to learn something. Stop and smell the roses. A personal record, the number of marathons run in a particular year or participation in a prestigious race -- these are all factors that motivate marathon runners. Whatever the purpose, these stakes tend to increase the runner's stress during the race. While running, I take some time to enjoy the scenery, high-five and greet spectators, say thanks to the volunteers at hydration stations or help a fellow runner in pain. All those things help me enjoy the race. When managing a project, it is important to meet stakeholders' expectations. But it is also important to have the right work-life balance. Simple actions -- such as taking that training that you've postponed several times or simply going to the gym -- will recharge you and give you new ideas to tackle project challenges. As both a marathon runner and project manager, I could say that the reason I run is to be able to combine my experiences in races and projects to strive for excellence. And that would be one of the reasons. But just between us, the top reason I run marathons is because I like to be cheered by people. What hobby has provided you with valuable lessons that you have applied to project management? |
The Must-Haves of Establishing a PMO
Categories:
PMO
Categories: PMO
| Seventy percent of organizations had a project management office (PMO) in 2013, according to PMI's Pulse of the Professionâ„¢ In-Depth Report: The Impact of PMOs on Strategy Implementation. That compares to 61 percent in 2006. Despite the increasing number of PMOs, many of them still fail. The first step in effectively establishing a PMO is figuring out if your organization even needs one. Only then can you ask, How can we establish one successfully? Part of determining if a PMO would be a good fit for your organization is knowing what a PMO's functions are. A PMO is an organizational structure, like a department or group, responsible for helping the enterprise achieve its strategic goals through effective project management results. Therefore, a PMO usually delivers three main objectives:
Obviously, implementing and sustaining a PMO is not cheap. Usually, there is some capital investment in setting up a PMO, particularly because it will add management overhead in addition to existing projects' costs. For a company whose core business involves only a few projects, if any, it might not make sense to implement a PMO. And while there's no formula to determine when organizations need a PMO, most do when they have:
So let's say it's been determined that your company needs a PMO. How do you lay the foundation to establish it effectively? First, it is important to know that there are different types of PMOs. These include but are not limited to:
Keep in mind that implementing a PMO involves a lot of change management, because it entails a new organizational structure, which affects the balance of power and culture in an organization. I recommend organizations invest more in change management tools or talent. Finally, to tailor the best PMO for your organization from the start, I recommend following these key steps:
In my next post, I'll outline a plan to implement a PMO. We will also talk about maintaining a PMO and continuous improvement to keep it sustainable. Do you have advice for determining if your organization needs a PMO or basic tips for establishing a strong, sustainable PMO? |
Setting the Stage for Order
Categories:
Project Planning
Categories: Project Planning
| In a project, you and your team may face what seems to be an endless mountain of tasks and deadlines. You need to provide clarification and direction. And to do so, you'll need to prioritize work as you build a project schedule. The good news is, to do so, there are really only two things you need to know about a task:
If you know what is due, you can determine estimates on the work and think about what indicators are involved in getting the work done. These indicators may include:
Next up is the "when is it due" question. The way you structure the project, such as a large versus a small effort, can help to determine timing. And to help you figure out timing, consider:
Prepare a chart or checklist with the significant indicators that make it possible for you to get the project done. Budget, the team (resources), complexity of the work to be done and due date should be columns in your chart. Rank each according to its priority, using a scale of 1 to 10, for example. Demonstrate what the ranking means and what constitutes that level of rank. Once you have your chart prepared, share it with anyone who may need to rely on it. If a stakeholder or team member comes to you questioning work and has workload problems, disclose your chart. This will lessen a helter-skelter approach to the project work. Finally, have support for your decisions. Your manager or director must support your system for prioritization if it is going to work. How do you prioritize work? |
Multi-Project Schedule Planning, Part II
Categories:
Project Planning
Categories: Project Planning
| In my previous post, I set the stage for what it means to manage a project in a multi-project management (MPM) context. In this post, I will share some best practices in the form of do's and don'ts that I hope will provide you with some basic guidance on how to steer and manage a project in an MPM environment. Here are a few do's: Be present. First and foremost, your project needs to be represented by you as a project manager during the MPM community's key shared events. There will be status meetings, where all project managers will report their progress, achievements or issues. There will be decision meetings, where overall decisions will lead to a shift in gears and put projects on new tracks, or where projects' priorities will be reassessed. You'll have to be there to understand the implications of these changes to the MPM environment and contribute to MPM developments. Show commitment. The last thing your counterparts want to see from you, in a complex project environment, is the team committing for a milestone or deliverable and then not seeing it through. Show commitment and responsibility for your part of the project and demand the same from your counterparts. Shed light. When odds are against your project and your commitments are threatened, make this visible in the MPM environment and shed light on the underlying impacts with strong communication management. Failing to communicate MPM-relevant results could generate ripples in related projects. For example, if you don't communicate on time a slight delay in the MPM project, this withheld information could cause huge delays in related projects. Request orchestration. Request that the MPM project's overall coordination/orchestration is done by an independent person, a person other than the project managers of the underlying sub-projects. This is a prerequisite for attaining common project goals and avoiding project conflicts, due to the various project interests that are put in place. Inform your team. Since your project team members will mainly be focusing on the project's inner scope, keep your project team informed about developments in the related MPM projects. I recommending avoiding these don'ts: Silo planning. In an MPM setup, where scope, timeline or resources can overlap, silo planning can jeopardize your project and the correlated projects. Plan jointly and agree on high-level planning with your MPM counterparts. Adversity to change. To respond to changes external to your project, which can be critical for the overall projects' success, your project and stakeholders will have to be resilient to change, not adverse to it. Inform your stakeholders and enhance your change management process to allow changes that support and facilitate overall goals. Disregard risks. When you have hard dependencies on or with other projects, do not underestimate or neglect managing risks. A tiny risk in your project can have significant impact on the related projects. Identify risks, quantify their occurrence probability and impacts, plan responses and share your risk management plan in the MPM community. Demand the same from your MPM counterparts. Information overload. Although on one hand it's critical that your team is informed about what happens in the related projects, information overload from the MPM community can disturb your team's focus. Filter the information from the various MPM project teams, and share the significant information within yours when the time is right for your project. Sluggish steering. While multiple forces from the MPM setup might influence your project course, do not permit your project role and influence to fade out. You are still the project manager; you are still the one holding the reins of your project. Do these do's and don'ts apply in your multi-project management setup? |