How can you optimize project portfolio selection? The key question is how to select a “right” mix of projects aligned with company resources and strategic goals, and maximize portfolio value. The most popular techniques are described and an example illustrates the advantages of optimization modeling as the most effective and accurate technique for portfolio selection.
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Project managers strive to learn from past experiences and guide others to do the same. However, these lessons learned normally exclude topics related to the plight of the project manager, who must regularly navigate the “domain of the unpredictable.” This article proposes a new device, “strategic lessons learned,” to address this void.
In adopting agile, management may choose to implement a “skinny” version consisting of selected features. Any one feature of agile selectively introduced into the legacy environment may seem sure to fail. But agile is not static and with continuous improvement will mature it into a more comprehensive methodology.
Failure Mode and Effects Analysis (FMEA) is one of the first structured techniques of failure analysis and is a very important tool in the engineering industry. The innovation discussed by this paper is that the engineering analysis method is applied to the project management process; the paper also calls on the importance of the exchange of engineering analysis tools and management methods.
Having well-honed customer relationship management skills is a key differentiator in project management. Embracing and truly delighting your customer goes well beyond the basics of traditional customer satisfaction. Take a closer look at some ways to move beyond the mundane to delivering a truly great customer experience!
Positive energy, an important predictor of organizational success, is often overlooked or poorly represented. Evidence has shown that positive-charged project leaders create high performance within the organization. Enact these suggestions to promote positive energy in your projects.
How to Build Sound and Trustworthy Risk Models: Winning the Reluctance to Risk Management in Megaprojectsby
The effort and cost involved in risk model implementation, as well as a tendency toward optimism, can make it difficult to build consensus for a structured risk management process. The author offers tips for building trust in the process starting with simplifying the risk model to gain management involvement.
Every project manager is familiar with the project management triangle, comprised of scope, time and cost. Quality, resources and risk are additional factors that must be accounted for to achieve project success. The focus here is to understand how these constraints are still relevant in the age of agile.
Successful management in organizations is the result of a willingness by senior managers to distribute authority to those who are responsible for “getting the job done.” Learn how results can be improved when authority, responsibility and accountability work together on a project.
Implementation of an Integrated Information Management System on an SAP Platform in a Utility Company Working Under a Public-Private-Partnership Modelby
This case study summarizes a two-year journey, highlighting the challenges, opportunities, failures, successes and achievements during the implementation of an integrated information management system.
At the bottom line of ethics, there is honesty, which should be part of every transaction, interaction, decision or action that an organization and its employees take. Six steps are proposed to help improve relationships between organizations and their employees, orienting the application of ethics through steps of honesty.
Intending to transform the established life insurance business of a leading insurer is a multi-dimensional challenge. It is also a story of the level of adaptability, perseverance and collaboration. In this case study of a leading Swiss insurance Company, the author shares the insights gained from the four-year journey as the company prepares for implementation.
When problems are tackled collaboratively, usually the organization wins. Effective collaboration requires more than technology. There’s a subtle, but important, fact that the most powerful solutions are only as good as the people using them.
Giving up control and empowering your team can be a terrifying experience for many leaders. Micromanagement has its place; partnering has its place. The key is to understand when each is needed. That’s the role of the leader.
La comunicación interna genera ideas, y las ideas pueden convertirse en procesos, productos o servicios innovadores, o llevar a la adopción de nuevas tecnologías y conocimientos. La comunicación abierta juega un papel central en negocios creativos e innovadores. Aprenda cómo mejorar la comunicación puede mejorar los resultados y beneficiar a su negocio.
Internal communication generates ideas—and ideas can become innovative processes, products or services, or lead to the adoption of new technologies and knowledge. Open communication plays a central role in creative and innovative businesses. Learn how improving communication can enhance results and benefit your business.
It is a VUCA world—volatile, uncertain, complex and ambiguous—and project management is no exception. In such situations, the final project may hardly resemble the original or initial plan. Welcome to scope creep! How can critical thinking help?
An efficient frame of governance helps to ensure the strategic alignment of the organization with corporate initiatives and their realization. This article analyzes governance around projects with an organizational approach at the strategic level, at the tactical and portfolio level, and at the program and project level.
There is a strong correlation between the success of a start-up and the extent to which the entrepreneur executes on the disciplines of finding customers, enabling operations and managing resources. How can entrepreneurs gain insight into the link between the methods needed to manage projects and the processes of establishing a business?
The trap of applying best-practice project management only to have the project fail because of executive inaction or counteraction can be avoided. This how-to paper describes how project managers can get their executives to act, and it identifies executive actions most likely to contribute to project success.
Project management techniques can ensure that a facility closure is completed effectively, with economically, environmentally and socially responsible outcomes. Applying risk management processes assures the right set of strategies are incorporated into the project execution to respond to possible risks.
Connecting with organizational culture to enhance productivity is paramount in project management; it helps to not only improve performance, but also adds meaningfulness. How can organizations align their values with talent management to inspire team members and create a high-performing culture?
While applying her experience in the banking industry to a home expansion project, the author learned some key lessons: Project management skills are transferable between sectors and project managers should not be afraid to take on projects in areas where they have little or no industry knowledge.
Projects with many influential stakeholders face difficulty in arriving at an agreed-upon scope. And even after this agreement, complex project requirements may fluctuate from relatively stable to uncertain. The author shares insights into effective scope management and the role of governance boards.
Establishing collaboration between a nearshore development subsidiary and an offshore outsourcing supplier can present challenges even when the client has an established delivery model for outsourcing projects. With nearshore-offshore collaboration on the rise, a better understanding of the challenges involved is beneficial.
A common, shared ethic can close the generational gap and aid in team integration, but the complex business environment necessitates an approach to ethics founded on culture. The catalyst for that culture must be embedded in leadership’s participation in behavior that reflects the shared values of the project management profession.
Vendor management is a key activity in any project but literature often overlooks the vendor’s point of view. While there can’t be a “one-solution-fits-all” strategy to the challenging activities involved in making your pitch, the author, working with an IT service provider, shares his recipe for winning the client.
What is it that makes learning from projects so elusive? This article posits that culture has a significant influence. Presented here are the most common challenges to learning identified in industry and academia—reframed as cultural issues—alongside practical recommendations for overcoming them.
Like many industries, the field of project management has embraced technology, seeking to improve efficiency and outcomes. But while technology may improve or complement the skill set of project managers, it will never be a substitute for their roles.