In Part 1, we looked at how two similar megaprojects--separated in time by 1,800 years--delivered transformational change through the magnitude of their engineering achievements. But to understand the challenges of managing megaprojects--what is it that makes them so alluring yet so fraught with difficulty?--we must first understand what shapes the urgency of their ambitions.
Collaboration inside the Department of Defense is critical to program success, especially for enterprise-wide applications. DoD program managers face challenges unique to the DoD, including culture, organization dynamics and an abundance of complex statutory and regulatory requirements. Methods explored in this paper can assist the program management office (PMO) in achieving needed collaboration, and putting these in place at inception increases effectiveness.
Risk appetite calculations are making greater penetration in boardrooms across the world. This article overviews how organizations can look at risk appetite across the entire enterprise for assessing their portfolios. In doing so, it reports the results of PMI's 2013 Pulse of the Profession report, which found that for every US$1 million they spent on projects, organizations put US$135,000 at risk. When projects fail, the study found that an average of one-third of the projects' budgets are gone for good. It discusses how organizations can get a holistic view of risk across the portfolio, once an organization knows those risks on each project and identifies several factors that affect risk appetite. The article then details the benefits and perils of the four major risk ingredients: (1) The right tools for the task; (2) global appetites; (3) tricky recipes; and (4) the unknown ingredient. It concludes by examining the last ingredient of risk appetite: the fundamental ability to actually mitigate risks.
The "peril of partnership" is when a business uses a “partnering” theme woven into its proposal, on the mistaken belief that the government really welcomes a partnership. The author argues that a vendor can be more competitive and match better to government expectations by positioning itself as a reliable performer and demonstrating a willingness to pursue cost economies.
by Dr. Jimmie McEver Dr. Richard E. Hayes John Schlichter
We have seen a growth in the emphasis on acquiring, managing, sharing and exploiting information--and supporting individual and collective decision-making. In particular, more mature organizations have the ability to recognize situational change and to adopt the correct management approach required to meet that change: agility. Two standards provide ways of assessing and developing these capabilities--and both are explored here.