Delivering Project Results through Service Management
byProject management is becoming increasingly focused on benefits. Can service management make a contribution toward improving benefits performance after the project is finished?
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Topic Teasers Vol. 91: Calculating Benefits?
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Question: Recently, my job has expanded to include helping management look into the future to calculate the benefits from investing in a project today. I vaguely remember doing these formulas to get my PMP, but to be honest I have not really used them in an actual project planning situation. Other than just the math, how do these figures help me recommend amounts that can and should be invested toward projects?
Pick your answer then Test Your Knowledge!
| A. | The economic marketplace is so dependent on stakeholder interpretations of the news and political events that it is impossible to try to predict the value of organizational projects in the future. Since 2011, businesses no longer use the present and future monetary calculations in their strategic planning. |
| B. | When choosing projects, the one which will offer the highest return on investment is always the best one to choose. Financial value, even if it is delayed longer into the future, is always the wisest way for an organization to direct its investment dollars. |
| C. | Present Value (PV) and Future Value (FV) can be used to see how much business value a project can provide to the organization in the future. It allows mathematical calculations to pinpoint amounts rather than just predictions of good “growth” or “return.” |
| D. | There are many types of value for a company to consider. Each project can be focused to lead to whichever type of value is most important to the organization, but only one of four portfolio value categories for projects can be met by a single project. |
On Program Management: The End of the PMO
byLet’s face it: In the project/program/portfolio management world, delivering real value seems to be the most elusive aspect of any PMO. And because of this, the PMO seems to be one of the first places organizational leaders look to “right-size” or “optimize,” reducing the impact and potential value PMOs might generate for their organizations.
10 Resolutions to Help You and Your PMO in 2017
by’Tis the season for New Year’s resolutions. But instead of gym memberships and bucket lists, what about concentrating this year's resolutions on your PMO? Try this list on for size. It's designed to give you and your PMO a successful, prosperous and benefit realized 2017.
Strategic Project Management: New Skills for the Modern-Day PM
byDeveloping the business acumen to understand and provide the right feedback to senior leadership to pick and choose the right projects that will help achieve the larger strategic objectives is essential for the modern-day PM. Are you ready for the challenge?
M.A.S.S.I.V.E. Projects for Sustainable Development
byNowadays, executives are called to manage strategic programs and projects that also consider sustainability. To help with this, modern management should make sure that every single project is a M.A.S.S.I.V.E. one.
Managing Benefits Risk
byProjects are undertaken to deliver business benefits. How well does our risk management approach support the protection of those benefits?
Transformation Programs Are Here to Stay: Are You Ready?
byAddressing seven common risks can help companies better prepare for transformational programs, save time and money, and lay the groundwork for a positive return on investment.
Developing a Good Analytics Governance Framework
byThe objective of governance is benefits realization, risk optimization and resource optimization. A good governance framework can help a performing organization develop a more holistic approach toward analytics.
Leading Beyond the Iron Triangle
byThe failure of a “successful” project came as a shock to an experienced PM. Turns out that managing projects according to the triple constraints alone is not enough.
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"Bad artists copy. Good artists steal." - Pablo Picasso |
