Project managers and teams can and should seek opportunities to propose actions to increase project ROI. But first, sponsors must be engaged to quantify the project’s value, and, equally important, to establish how it can and can’t fluctuate due to schedule delays and scope changes. Here are steps to make it happen.
In part three of our Managing Project Value series, a consideration of the five key ways a project’s duration can affect ROI leads naturally into a simplified formula for tracking your initiative’s most important metric of all — profitability — from start to finish.
Project post-mortems tend to get short shrift in the fast-paced business world. Project managers and teams barely catch their breath before moving on to the next goal. But looking back can be invaluable. In studying myriad details of completed projects, the University of Virginia’s IT program is uncovering common causes of failure, and identifying ways to improve tomorrow’s projects.
Only by managing and demonstrating project value can we truly justify adding resources, changing scope or moving deadlines. In a new series, Steven Devaux describes how project managers and organizations can break out of the time-budget mindset to better focus on the most important part of any initiative — the return on value.
Some view project status as a necessary evil; done poorly, it is. But many successful project leaders use the status process to add value to their efforts, including better communication with management, team members and customers. Here are some proven ground rules for preparing and presenting effective status reports.
In the second of our three-part series on earned value management, experienced practitioners share some trends, best practices and pitfalls. Plus, profiles of two successful EVM applications in the public and private sector.
In the first of a three-part series on earned value management, a survey of government IT shops shows the performance-tracking methodology is much-admired, but scarcely applied. Lack of knowledge, training and, perplexingly, senior management interest are the foremost challenges.
One of the most difficult phases in project management is gathering business requirements. Many stakeholders simply don't know how to articulate what they want, or why they want it. Project managers who build trust will get better results.