Does anyone know or have any information on whether or not Wall Street values PM Certifications of a company (CMM Audits) or has any other means to assess or value the Project Management Maturity of a publicly held company? Or do they just not care and only look at the bottom line.
Wall Street firms value industry experience and knowledge over PM certifications, at least that's what I've observed.
Go to DICE, Monster, and Hotjobs to verify. Saving Changes...
Frank WintersPhotographer and ConservationistSandwich, Ma, United States
Part of modern due diligence processes includes a review of the systems capability of a company (this would be in preparation for a merger, for example) A review of this kind will include a review of the project management capability and competence. Repeatable processes, track record and business management satisfaction levels will be areas of focus. Certifications and audits will be seen as evidence of competence levels. Saving Changes...
Anonymous
Ahhhh there's a chasmn between what should happen and what does.
I have worked on Wall Street for 14 years (at 3 firms) and been associated with several due diligence efforts of acquisition targets for my employer. Not once has project management capability come up.
First, its about revenue. If the financials work, the technology people will make their end work -- or they'll replace us.
Second, when selecting systems, its comes down to which will work best with the business process. Any lapses in audit requirements will be addressed in the near term (rarely happens to the extent it should)
Third, most houses -- the largest are an exception -- do not follow PMI discipline. The ephemeral nature of user requirements and scope changes (major project killers) preclude rigorous disciplines Saving Changes...
Frank WintersPhotographer and ConservationistSandwich, Ma, United States
I'm sure you are correct in saying that much due diligence is done poorly, as is the case with audits. However, in performing due diligence of a large corporation systems must be reviewed. If systems are reviewed project management of the development of new capabilities and functions as well as the deployment of new business processes must also be reviewed. If a due diligence study is done without looking at systems and project management, its due diligence in name only. Saving Changes...
Kevin, back to the question at hand, I guess the answer is that Wall Street does not VALUE PM certifications or CMM. Saving Changes...
Frank WintersPhotographer and ConservationistSandwich, Ma, United States
Tom, Kevin's question has three parts -- does WS care about PM certification? Does Wall Street have other ways of assessing PM maturity and does WS only care about the bottom line. When companies perform due diligence they should -- should -- assess systems capability including project management maturity. My experience is that sometimes they do just that. However much due diligence is done because a box must be checked, when that's the case why look at systems? But when there is real concern about the fit or viability of a company, a review of the systems capability will be done. This is because the guys on WS are interested in the future revenue and profit generation prospects of companies. You know the saying about past performance. Systems capability has a great deal to say about what a company might do in the future. So WS does care about the bottom line, but not to the exclusion of everything else. I agree they generally don't care about certifications, and the alternative way they sometimes use to assess project management maturity is through the due diligence process. Saving Changes...
