Guessing is not a strategy: How to build decision velocity with AI and real-time data
June 10, 2026 | Live Webinar
Project Risks + Proactivity = Success
| Risk management as a best practice is critical to project success. It forces the team to consider the deal breakers on a project, and to proactively prepare and implement solutions. PMI's recent 2012 Pulse of the Profession report found that more than 70 percent of respondents always or often use risk management techniques to manage their projects and programs and these practices lead to higher success rates. Here's an example of how risk management could have saved a project: A project manager oversees an electrical team that is responsible for installing electrical and audio-visual equipment. The construction and civil engineering teams hand over the completed and decorated site, ready for the final phase of the project. To the project manager's dismay, the projectors do not align with the screens, rendering them not fit for the purpose. What went wrong? The civil and construction teams had altered the dimensions of the rooms; the customer failed to communicate the changes to the electrical team. Assuming the project was executed according to plan, the project manger planned and submitted the electrical drawings based on the original dimensions of the room. These plans were made redundant when the room dimensions changed, which upset the equipment's position. To correct the situation, the project manager drew and submitted new electrical drawings. The site's walls and ceilings had to be reopened to accommodate the changes, which caused delays and increased cost, rework -- and frustration. Had there been a robust risk identification and implementation plan, they would not be in this situation. Too many assumptions were left unchallenged and risks pertaining to the many external dependencies were overlooked. As part of this risk management, proactive communication with the customer and other teams should have been planned. For example, the project manager should have considered and asked questions about how the contractors and sites would be monitored and controlled. What would the frequency and type of communication be like with stakeholders? There should have been an assessment of 'what if' scenarios. What happens if the deliverables are not as expected? What are the risks if there are problems with contractors? What is the impact of not having dedicated resources on the team? These types of discussions and questioning would have alerted the project manager and team to proactively plan to manage the quality of contractor work and employ the necessary resource on the project team. Do you practice risk management? How does risk management planning make your projects successful? To discuss Pulse of the Profession on Twitter, please use #pmipulse. See more on the Pulse of the Profession. |
Estimate Time for Agile Estimation
Categories:
Agile
Categories: Agile
| Agile estimates and planning are essential to a project. But a common mistake during rough release estimating is forgetting that the opportunity for a greater level of detail comes later. If that point is missed, teams may struggle during the initial high-level estimates. To avoid that problem, I suggest that at the beginning of a project, teams do a rough estimate of each requirement. One common estimating technique includes "planning poker," also called Wideband Delphi. In planning poker, each team member secretly picks a number representing how much effort or complexity they think is involved in a given requirement. The numbers then are revealed. The person with the highest value explains to the team why it is hard. The person with the lowest value explains why it is easy. After no more than two minutes of discussion, the team votes again. This process is repeated until the team reaches a consensus or it discovers there is not enough information to estimate this requirement. The problem arises when teams blur the focus between the low-level estimates for a two-week iteration and high-level estimates for the release. Low-level estimates are more precise because they split a requirement into several tasks, estimated in hours. By contrast, the high-level estimates are in more abstract relative "points." Some teams incorrectly attempt to identify predecessor dependencies in high-level estimates. They can also spend too long trying to refine the estimate or silo work between sub-teams to make two estimates for the same requirement. This detracts from the goal of being able to estimate a large pile of requirements quickly and at the beginning of your project. Remember, there is plenty of time to deep dive later. How long does it take you to estimate your project? |
Tracking Project Management Trends
Categories:
PMI Pulse of the Profession
Categories: PMI Pulse of the Profession
| Faced with sluggish growth and shifting market priorities, organizations are often tempted to latch on to whatever's being heralded as the next big thing. But the smartest project players are going back to the basics, according to PMI's 2012 Pulse of the Profession report. Over the next several weeks, Voices bloggers will address some of the project management trends identified in the report, including: Talent development: Looking to gain an edge in new markets, organizations are scrambling to ensure the right people with the right skills are allocated to the right programs. And Pulse of the Profession data shows a payoff for those organizations that get it right. Among high-performing organizations -- defined as those companies with 80 percent or more of their projects completed on time, on budget and having met business goals -- 63 percent have a defined career path for project managers. Compare that to only 26 percent of low-performing organizations, defined as those with less than 60 percent of their projects completed on time, within budget and having met business goals. Project portfolio management: A still-fragile economy spotlights the need for good project portfolio management, with more than half of respondents reporting its frequent use in 2012. Pulse of the Profession data also indicates that 72 percent of high-performing organizations use portfolio management compared to only 39 percent of low-performers. Organizational agility: As organizations are forced to deal with ever-increasing market volatility, use of change management, risk management and iterative practices is on the rise. Pulse data shows that 80 percent of high-performing organizations use change management techniques and 84 percent practice risk management. Plus, 40 percent of high performers use agile approaches in project management, versus 20 percent of low performers. Benefits realization: Companies don't do projects because they can; they do projects because they deliver a strategic outcome. Pulse of the Profession data reveals that defining key objectives, benefits and expectations is the second-most important factor for project success. Additionally, having sponsors who are actively engaged is one of the primary factors that lead to projects meeting an organization's business objectives. Organizations with active sponsors on at least 80 percent of their projects have a success rate of 75 percent, compared to the average 64 percent. To discuss Pulse of the Profession on Twitter, please use #pmipulse. Learn more about PMI's 2012 Pulse of the Profession. |
5 Tactics for Risk Collaboration in Specialty Software Projects
Categories:
Risk Management
Categories: Risk Management
| Many organizations choose to implement specialty software products as a business solution. The benefits of doing so vary from filling critical gaps in a company's portfolio of solutions and services to enabling a quick response to new regulations, such as health and safety mandates. Never assume that because a solution is smaller in size, you can take a relaxed approach to risk management. With enterprise resource planning (ERP) solutions, success requires collaboration between the project manager and the software provider to manage risks. Here are some successful tactics for risk collaboration with specialty software providers: 1. Encourage leadership engagement. While it is rare to meet a company CEO, it is likely you will work with the CEO of a specialty software provider. Early in the project, create a deep level of engagement between the leadership teams. For example, connect someone from your leadership team with the head of product development. An early leadership engagement will create a quicker path to resolve any issues. 2. Gain high visibility during analysis and design phases. During the early phases of a project, a high level of visibility will help you to avoid costly errors in later phases. Early visibility also results in a quicker path to understanding the overall solution. For example, conduct design sessions at the specialty software provider's office. 3. Align methods and terminology. Invest effort early on in the project to harmonize methods, phases, deliverable formats and milestones. Agree on the terms for completing a project phase, as well as common terminology. For example, define the difference between a customization versus configuration. When you agree on these things early on, it's less likely any confusion or miscommunication will pop up. 4. Make site visits. Nothing is more effective than talking with a current customer about their experiences with a specialty software provider. These discussions create visibility to both best practices and challenges. Utilize this outside view to refine your project risk approach. 5. Don't underestimate contingency. Even if a specialty software provider is smaller than an ERP company, it will still have the same fundamental delivery risks. Using a straight percentage for contingency may not be sufficient. Discuss with the specialty software provider a special contingency allocation to manage risks. Do you have any tactics for risk collaboration? |
Work to Live or Live to Work?
| Working with multigenerational project teams has taught me that commitment is a common attribute for team members of every generation. But every team member approaches commitment in a different way. Different generations place different values on pursuing work-life balance. A strong work ethic is a characteristic of the older members of the project team, part of the silent generation. Members of this generation tend to want to work a reduced number of hours to be able to devote time to personal activities. Baby boomers, the generation referred to as workaholics, consider work a high priority and greatly value teamwork. In my opinion, they are focused on their achievements and are willing to work long hours to achieve project success. Generation X is good at controlling their time. This generation has a desire to control and set a career path, personal ambitions and work time. Generation Y is driven by a strong preference for work-life balance. Many Gen Yers look for jobs that provide them great personal fulfillment. In my opinion, one of our tasks as project managers is to find ways to shed the stress in our project team members' lives. Part of that is to better understand the work-life balance needs of team members from different generations. To bring a better work-life balance to any generation, define more accurate project schedules based on flexibility, telecommuting and time off. Tell us about actions you have adopted to meet project goals and still accommodate team members' work-life balance needs. |