Although Ten Step is a registered service provider for PMI, yet it does a far better job than PMI in presenting the discpline of project management to the audience. PMI's website's sole purpose is to provide information about the programs that PMI offers. If one is not a member of the institute, one does not get much information. On the other hand, the Ten Step website provides greater information for the discipline of project management. The templates that are provided free of any charge are a great tool for any student of the discipline.
I think the Ten Step is much closer to the Verzuh book than PMI.
Tuesday, March 31, 2009
Project Portfolio Management
Though it was written seven years ago, the relevance of this article in today’s economic scenario could not be understated. In the light of, what we have seen in last two years, Enron’s bankruptcy has receded to the back corners of most everyone’s mind. Diversification of portfolio has been a widely used concept of the financial world for a long time. But it has been a lifeline for investors in the midst of crashing industry giants like Ford, GM, Lehman Brothers, Freddie Mac and Fannie Mae.
Project portfolio management manages projects in the same manner as an investor would manage his stocks, bonds and mutual funds. It is much easier to balance resources and control the project when executives have an overall view of the project portfolio. More and more organizations are focusing on projects as portfolio of investments to produce maximum possible return on investment. In other words, money is allocated on necessary projects and redundant projects are eliminated.
Project portfolio management software is being increasingly used to simplify the process of building a portfolio. Portfolios can be assembled and assessed based on how they meet strategic needs of a particular business. The success of a portfolio is measured by metrics describing important milestones. The achievement of milestones is naturally tied to performance evaluation and bonuses.
Project portfolio management manages projects in the same manner as an investor would manage his stocks, bonds and mutual funds. It is much easier to balance resources and control the project when executives have an overall view of the project portfolio. More and more organizations are focusing on projects as portfolio of investments to produce maximum possible return on investment. In other words, money is allocated on necessary projects and redundant projects are eliminated.
Project portfolio management software is being increasingly used to simplify the process of building a portfolio. Portfolios can be assembled and assessed based on how they meet strategic needs of a particular business. The success of a portfolio is measured by metrics describing important milestones. The achievement of milestones is naturally tied to performance evaluation and bonuses.
Tuesday, March 17, 2009
Agile Project Management
The author states that Waterfall Project Life Cycle Model has limited applicability in today’s complex, interconnected, interdependent and interrelated business processes. Projects in reality do not follow the exact steps, sequential flow or requirements of traditional project management. It is not feasible to address current pressures of change, global competition, dynamic technologies and increasing complexity by following the steps in the waterfall model. Billions of dollars have been wasted on failed projects. It is not possible to ignore the growing number of poorly executed as well as cancelled projects. To overcome these problems, an alternative approach of Agile project Management has emerged. APM is a highly iterative and incremental process which follows Agile Project Life Cycle Model. It consists of initial requirements, fast iterative planning, constant evaluation and reviews. I was particularly impressed with the visual control component of Agile management .It ensures that every member of the team views the project the same way.
Another important element is that APM development is executed collaboratively with a small co-located team. All the key team members including the customer/end-user work on one location. When a user cannot be involved on a full-time basis, the business analyst can represent the user while the full-time core team continues to work together. This practice also facilitates the feature driven development of a project. It is possible to incorporate and implement some of the components of Agile management in a traditionally managed project.
Another important element is that APM development is executed collaboratively with a small co-located team. All the key team members including the customer/end-user work on one location. When a user cannot be involved on a full-time basis, the business analyst can represent the user while the full-time core team continues to work together. This practice also facilitates the feature driven development of a project. It is possible to incorporate and implement some of the components of Agile management in a traditionally managed project.
Chapter 14
Application is the Art: Solving Common Project Problems
This chapter in my book is the culmination point for all our previous readings. Discipline of project management arms the users with tools and techniques to define, plan, execute and control a project. Project management is a combination of art and science. Success of a project largely depends on its continued use and conviction in this discipline.
Verzuh has nicely summarized what we previously learned in the book. e.g How the can-do-attitude can cause the impossible dream of achieving a particular goal in unrealistic time frame with an impossible budget. A project manager has to make sure that clarity exists about the SOW. Statement of work has been explained in detail in the book. By now, we are familiar with the importance of clearly defining the project's purpose, scope and deliverables.
This chapter in my book is the culmination point for all our previous readings. Discipline of project management arms the users with tools and techniques to define, plan, execute and control a project. Project management is a combination of art and science. Success of a project largely depends on its continued use and conviction in this discipline.
Verzuh has nicely summarized what we previously learned in the book. e.g How the can-do-attitude can cause the impossible dream of achieving a particular goal in unrealistic time frame with an impossible budget. A project manager has to make sure that clarity exists about the SOW. Statement of work has been explained in detail in the book. By now, we are familiar with the importance of clearly defining the project's purpose, scope and deliverables.
A project can develop problems anytime during its life cycle because of customer demand, change in the environment, change in deliverables in terms of time frame and quality or because of internal management problems. The problem has to be solved in a systematic way beginning from statement of work, revised project plan, work package estimates, revised risk management and status report meetings. The strategy is to apply the basic tools and techniques of project management to find the solution to many of the familiar problems.
Wednesday, March 11, 2009
Evaluation of My Natural Leadership Style
I am most comfortable taking on a leadership role that is required during the forming and storming stage. I believe that I have the skill set to provide clear direction during the times of uncertainly and anxiety. When I joined Global IT Partners, I was immediately tasked to lead a complicated Sarbanes Oxley Compliance training project for an important client. The mandate I had was to provide a standardized training across multiple sites and within a stipulated time frame. I was the newest member of the staff and here I was assigned to lead the most visible effort of the company. I did not get to pick my own team since I was relatively new and did not know much about the internal workings of the company. My boss assigned me a team which constituted of high potential professionals, who happened to be high-tempered as well. A few of them were in the same applicant pool from which I was selected for the new job and while the others simply did not like me or other team members.
There I was, a new employee tasked with this grandiose project and provided with a team who could kill each other at a drop of a hat, all of this did not even figure in my First-90 Days Plan. I had a choice, surrender or lead to victory. The latter seemed logical choice because I did not want to give up even if it meant rewriting project plans to include contingency plan for minimizing the impact of friendly fire by the team which welcomed me with salvos of “this too shall pass” looks.
One by one I met with individual members of my team, explained them the purpose of the assignment and my proposed time line besides the action plan for which I solicited their inputs. It did not take me much time to confirm my belief that they all were smart people who wanted to be heard and wanted acknowledgement. In my initial meetings I could see the proverbial iceberg melting. Due to the extent of the domain knowledge, I needed their inputs for charting out the course for the project Despite their individual power struggles I could see that they all were at peace with my leadership role after the first week. They could see that I was not going anywhere and I can provide direction for the complicated project ahead. The ancient wisdom that has always guided me in life pointed towards one act that could make or marr the project and that was, listening. I listened to their issues questions and concerns and sought their ideas for the project. I could see them opening up and willingness to commit
After the second week, it was a smoother sail. Our team did an excellent job of delivering the promised goods!! Team work, works!!!
The leadership role that I do not feel energized performing is that of a leader in performing stage. I feel that when the teams are set and formed and the work flow is going smoothely, there is a less challenge for a team and the situation is more or less like business as usual.
There I was, a new employee tasked with this grandiose project and provided with a team who could kill each other at a drop of a hat, all of this did not even figure in my First-90 Days Plan. I had a choice, surrender or lead to victory. The latter seemed logical choice because I did not want to give up even if it meant rewriting project plans to include contingency plan for minimizing the impact of friendly fire by the team which welcomed me with salvos of “this too shall pass” looks.
One by one I met with individual members of my team, explained them the purpose of the assignment and my proposed time line besides the action plan for which I solicited their inputs. It did not take me much time to confirm my belief that they all were smart people who wanted to be heard and wanted acknowledgement. In my initial meetings I could see the proverbial iceberg melting. Due to the extent of the domain knowledge, I needed their inputs for charting out the course for the project Despite their individual power struggles I could see that they all were at peace with my leadership role after the first week. They could see that I was not going anywhere and I can provide direction for the complicated project ahead. The ancient wisdom that has always guided me in life pointed towards one act that could make or marr the project and that was, listening. I listened to their issues questions and concerns and sought their ideas for the project. I could see them opening up and willingness to commit
After the second week, it was a smoother sail. Our team did an excellent job of delivering the promised goods!! Team work, works!!!
The leadership role that I do not feel energized performing is that of a leader in performing stage. I feel that when the teams are set and formed and the work flow is going smoothely, there is a less challenge for a team and the situation is more or less like business as usual.
Evaluation of Teams using CMM model
Team, ah! what a great word. A lot of literature has been written focused on this very word. This word has been the center of corporate attention for many many years. They say T.E.A.M is an acronym for Together Everyone Achieves More. Leaders like John Wooden and Herb Brooks create and maintain . They have taken ordinary groups of people and created history. It was only through team work that NASA scientists could rescue the Apollo 13 crew. The passion and the synergy of a team is largely dependent on the the degree of involvement of a leader. With that being said, I think that the onus of making a team successful is equally on the team. In my career, I have had the pleasure of being a part of a great team as well as a not so great team. For the best team that I have been in, I would give it a Level 5 as we all were continuously improving ourselves, listening to our customers and to each other. As far as the worst ( should I say the most challenging ) team I have ever been in was where, we were nine people and we were the personification of T.E.A.M Together Everone Argues More! We all different individuals put in a professional situation with 15 different goals and agendas. There was no semblence of unison of direction, active listening or purpose. I will give that team a 0 because of lack of cohesion in the team.
Monday, March 9, 2009
Chapter 13
Enterprise Project Management
The transition of project management practices from individual projects to the organizational level holds huge potential for improving productivity. Enterprise project management is the conscious integration of processes, technology, organizational structure and people in order to synchronize organizational strategy with the execution of its projects. According to EPM, all projects need to be managed at three different levels; the project tier, project portfolio and program tier. The four components of enterprise project management are processes, EPM technology, people who work on the project and the project office. Verzuh uses the example of integrated product teams in Boeing and Lockheed Martin to illustrate this transition. Established organizations are increasingly using the process of IPTs -integrated product teams to focus on the product being developed in the project. This is an approach which is moving away from the emphasis on functional specialities.
When Boeing developed its 777 aircraft, it used IPTs to optimize design and speed development of the product. All the disciplines and functional teams from manufacturing, engineering, procurement, finance, technology etc worked together as a team on the project.
Similarly, the example of Lockheed Martin was also a case in point for IPTs as enterprise project management used to develop the new joint strike fighter aircraft. As a result of integrating IPTs , it reported better program management decisions, early detection of cost and schedule problems, timely performance reports and higher level of efficiency and quality.
The transition of project management practices from individual projects to the organizational level holds huge potential for improving productivity. Enterprise project management is the conscious integration of processes, technology, organizational structure and people in order to synchronize organizational strategy with the execution of its projects. According to EPM, all projects need to be managed at three different levels; the project tier, project portfolio and program tier. The four components of enterprise project management are processes, EPM technology, people who work on the project and the project office. Verzuh uses the example of integrated product teams in Boeing and Lockheed Martin to illustrate this transition. Established organizations are increasingly using the process of IPTs -integrated product teams to focus on the product being developed in the project. This is an approach which is moving away from the emphasis on functional specialities.
When Boeing developed its 777 aircraft, it used IPTs to optimize design and speed development of the product. All the disciplines and functional teams from manufacturing, engineering, procurement, finance, technology etc worked together as a team on the project.
Similarly, the example of Lockheed Martin was also a case in point for IPTs as enterprise project management used to develop the new joint strike fighter aircraft. As a result of integrating IPTs , it reported better program management decisions, early detection of cost and schedule problems, timely performance reports and higher level of efficiency and quality.
Chapter 12
Measuring Progress
The project by definition is finite and so has to have an endpoint. It is not feasible to measure its performance as it approaches its deadline. It is essential to track the progress of the project as it moves from one work package to next. A good project manager has a detailed project plan with cost and schedule estimates for all statements of work. It is his or her job to accurately monitor, track, measure and analyze the progress in quantifiable results. Each work package is a measurable unit of progress. When the work is not broken down into small , detailed tasks, it can spell disaster for the project. The common practice is to use the 0-50-100 rule to display schedule status in project status meetings.
It is critical to measure costs accurately because cost measures productivity. Actual cost when compared with planned cost will tell the project manager whether the project is progressing as planned. It is important to consider the accounting lag and the rate at which the money is being spent, while calculating the costs.
Another key concept from this chapter is escalation thresholds. These thresholds are typically set in the planning process. They determine who handles a problem or approves a solution. Project team has the authority to solve problems but there are certain problems which need to be handled by senior management. Threshold management also distinguishes the type of changes the project management team can approve from the ones change board must approve. Threshold management ultimately brings the proper level of attention and mediaation to the specific problems which may arise during the life of a project.
The project by definition is finite and so has to have an endpoint. It is not feasible to measure its performance as it approaches its deadline. It is essential to track the progress of the project as it moves from one work package to next. A good project manager has a detailed project plan with cost and schedule estimates for all statements of work. It is his or her job to accurately monitor, track, measure and analyze the progress in quantifiable results. Each work package is a measurable unit of progress. When the work is not broken down into small , detailed tasks, it can spell disaster for the project. The common practice is to use the 0-50-100 rule to display schedule status in project status meetings.
It is critical to measure costs accurately because cost measures productivity. Actual cost when compared with planned cost will tell the project manager whether the project is progressing as planned. It is important to consider the accounting lag and the rate at which the money is being spent, while calculating the costs.
Another key concept from this chapter is escalation thresholds. These thresholds are typically set in the planning process. They determine who handles a problem or approves a solution. Project team has the authority to solve problems but there are certain problems which need to be handled by senior management. Threshold management also distinguishes the type of changes the project management team can approve from the ones change board must approve. Threshold management ultimately brings the proper level of attention and mediaation to the specific problems which may arise during the life of a project.
Tuesday, March 3, 2009
Chapter 11
The team members in my project deal with a person amongst them who holds back information which is clearly needed by her direct reports as well as supervisors. When asked for , she provides/ emails data in slices. Other team members constantly run into unnecessary delays because of her holding back the required information in the first place and then spending time in extracting data from her piece by piece. This ongoing bad communication creates resentment, bad team environment, schedule and cost over runs.
The bottom line in this chapter is that effective communication is essential for the health and success of a project. The main idea of this chapter is summarized in that when people work together to accomplish a common-unique goal, they need to coordinate their activities, agree on responsibilities and maintain cost-schedule-quality equilibrium. It is very important to set up formal mechanism for good communication through meetings and reporting. I was drawn to the example of Lockheed Martin where the innovative and collaborative communication strategies of the collocated engineers streamlined the decision making process and enabled them to incorporate changes quickly.
The bottom line in this chapter is that effective communication is essential for the health and success of a project. The main idea of this chapter is summarized in that when people work together to accomplish a common-unique goal, they need to coordinate their activities, agree on responsibilities and maintain cost-schedule-quality equilibrium. It is very important to set up formal mechanism for good communication through meetings and reporting. I was drawn to the example of Lockheed Martin where the innovative and collaborative communication strategies of the collocated engineers streamlined the decision making process and enabled them to incorporate changes quickly.
The change management process involves initial approval of the change and the process of controlling change. Once stakeholders accept it, the change becomes controlled and any further changes would need to go through the change management process again. Good communication makes the process of managing change efficient.
Monday, March 2, 2009
Chapter 10
Building a High Performance Project Team
The project team members work interdependently and cohesively to make decisions and solve problems during the life of a project. A high performance team is characterized by a framework of specific skills, attributes and accountability. A strong and synergistic team can deliver more than the individuals working alone. The framework for a high performance team consists of a positive team environment, collaborative problem solving capability and leadership.
A positive team environment fosters trust and respect among team members. Explicitly stated expectations about interpersonal behavior become the ground rules of a team. All the team members must commit to a shared goal and support from the sponsor. Meetings are conducted to exchange ideas, solve problems and accomplish goals of the project. In a positive team environment, team members are open to actively listening and seriously considering ideas and perspectives different from their own.
Another integral component of a good project team is the art of collaborative problem solving.
Problem solving requires understanding of multiple decision modes and applying the appropriate ones. Accepting the possibility of conflict (and the associated discomfort) is also essential for collaboratively working towards a common goal.
The project team members work interdependently and cohesively to make decisions and solve problems during the life of a project. A high performance team is characterized by a framework of specific skills, attributes and accountability. A strong and synergistic team can deliver more than the individuals working alone. The framework for a high performance team consists of a positive team environment, collaborative problem solving capability and leadership.
A positive team environment fosters trust and respect among team members. Explicitly stated expectations about interpersonal behavior become the ground rules of a team. All the team members must commit to a shared goal and support from the sponsor. Meetings are conducted to exchange ideas, solve problems and accomplish goals of the project. In a positive team environment, team members are open to actively listening and seriously considering ideas and perspectives different from their own.
Another integral component of a good project team is the art of collaborative problem solving.
Problem solving requires understanding of multiple decision modes and applying the appropriate ones. Accepting the possibility of conflict (and the associated discomfort) is also essential for collaboratively working towards a common goal.
Leadership in essence defines the job of a project manager. How he or she leads is critical to the success of a project. A project manager is responsible as well as accountable for orchestrating healthy group dynamics, fostering creativity, demanding accountability and maintaining the strategic vision. This chapter has really been hitting home because in the needs analysis of my project, one of the big reasons for under-achievement of project goals was bad team dynamics and particularly weak leadership. Project management 101 is intended to help the team members learn and apply the skills required in a high performance project team.
Tuesday, February 24, 2009
Chapter 9
Balancing the Project.
Limited resources necessitate the need for balancing time , money, equipment, material and people resources. A project manager is constantly making choices which will optimize the use of available resources. I found the example of SAFECO field very helpful in understanding the nuances of balance in a good project. An aggressive , accelerated schedule escalated the cost of constructing the baseball field. The project achieved the time deadline but had a cost over run of $ 1oo million.
Balancing should be a part of project definition and planning stages. It involves continuous correcting during the course of a project execution.
There are three levels of balancing a project. A project can be balanced at project level, business level and enterprise level. Re estimating the project in the SOW and work packages can help increase the accuracy of estimates. Task assignments can be changed to reallocate and better manage the resources. To accelerate the schedule , more people can be assigned to a project. Balancing a project at the business case level could involve reducing the product scope, fast tracking and changing the profit requirement. Finally at enterprise level, higher management reviews the firm's resources and makes decision to keep, change, outsource or eliminate a planned project.
Limited resources necessitate the need for balancing time , money, equipment, material and people resources. A project manager is constantly making choices which will optimize the use of available resources. I found the example of SAFECO field very helpful in understanding the nuances of balance in a good project. An aggressive , accelerated schedule escalated the cost of constructing the baseball field. The project achieved the time deadline but had a cost over run of $ 1oo million.
Balancing should be a part of project definition and planning stages. It involves continuous correcting during the course of a project execution.
There are three levels of balancing a project. A project can be balanced at project level, business level and enterprise level. Re estimating the project in the SOW and work packages can help increase the accuracy of estimates. Task assignments can be changed to reallocate and better manage the resources. To accelerate the schedule , more people can be assigned to a project. Balancing a project at the business case level could involve reducing the product scope, fast tracking and changing the profit requirement. Finally at enterprise level, higher management reviews the firm's resources and makes decision to keep, change, outsource or eliminate a planned project.
Chapter 8
The Dynamics of Accurate Estimating
Complete accuracy is impossible to achieve in estimating. A high degree of accuracy is what a project manager strives for while developing estimates. Reviewing the past performance improves the forecasts of the future. Comparing actual performance to estimates is essential to refining the estimating model. A project manager cannot control all the project variables and cannot predict the future. For example changing technology, weather, regulations may result in change of plan.
One of the important steps a project manager can take is to build estimates with complete knowledge of specifications of implementations. No amount of good business practices can replace the detailed blueprint. The blueprint gives the people developing estimates the right tool to do their job. Best people to make estimates are experienced with estimating and people who will actually work on the project. Though all projects have their own characteristics but there are enough similarities in a typical project life cycle to gain from experienced people. Professional estimators bring the expertise and finesse which is generally beyond the scope of a project manager.
Complete accuracy is impossible to achieve in estimating. A high degree of accuracy is what a project manager strives for while developing estimates. Reviewing the past performance improves the forecasts of the future. Comparing actual performance to estimates is essential to refining the estimating model. A project manager cannot control all the project variables and cannot predict the future. For example changing technology, weather, regulations may result in change of plan.
One of the important steps a project manager can take is to build estimates with complete knowledge of specifications of implementations. No amount of good business practices can replace the detailed blueprint. The blueprint gives the people developing estimates the right tool to do their job. Best people to make estimates are experienced with estimating and people who will actually work on the project. Though all projects have their own characteristics but there are enough similarities in a typical project life cycle to gain from experienced people. Professional estimators bring the expertise and finesse which is generally beyond the scope of a project manager.
Phased estimating, apportioning, parametric estimating and bottom estimating are the various estimating techniques used by project managers. Phased estimating requires cost and schedule resource estimates for one phase of a project at a time. At the end of the first phase, a new estimate for the second phase is developed. Bottom-up estimating is considered the most accurate estimating as it takes into consideration the detailed tasks and work packages.
Chapter 7
Realistic Scheduling
A realistic schedule is a step by step process which results in achievement of stakeholder objectives in time and takes into consideration project team, equipment, cost and quality of the project. The techniques of realistic scheduling form the foundation of the project planning.Laying out a detailed scheduling plan can prevent as well as be a tool for solving many subsequent problems, a project manager may encounter.
The sequence of work packages is determined by the relationship between the tasks. Generally, project management software enables you to record relationships between tasks in a predecessor table and a network diagram. The network diagram defines task relationships between work packages and reflect sequence constraints between work packages.
Another useful concept in project management is the setting up of important milestones in the life of a project. Milestones don't affect the schedule but they anchor the whole project network.
They show major progress points and state when the successor can begin.
A realistic schedule is a step by step process which results in achievement of stakeholder objectives in time and takes into consideration project team, equipment, cost and quality of the project. The techniques of realistic scheduling form the foundation of the project planning.Laying out a detailed scheduling plan can prevent as well as be a tool for solving many subsequent problems, a project manager may encounter.
The sequence of work packages is determined by the relationship between the tasks. Generally, project management software enables you to record relationships between tasks in a predecessor table and a network diagram. The network diagram defines task relationships between work packages and reflect sequence constraints between work packages.
Another useful concept in project management is the setting up of important milestones in the life of a project. Milestones don't affect the schedule but they anchor the whole project network.
They show major progress points and state when the successor can begin.
Bottom-up-estimating of cost and duration of work packages is another important planning step which a project manger needs to execute carefully. The four sources of cost estimate are labor, equipment, materials and fixed price bids. Fixed price bids especially if they are from an outside vendor can include all three labor, equipment and materials costs. Each cost is a resource restraint and schedule has to be adjusted to account for these restraints.
Chapter 6
Work Breakdown Structure
A project manager constantly strives to achieve balance in the cost-schedule and quality equilibrium of the project. One of the techniques used to successfully manage the project is WBS. Work breakdown structure is a tool to break a project into its manageable components. It is basically a task list. WBS provides a detailed illustration of project scope. It clarifies the individual and team work assignments and builds those into an overall picture.
WBS becomes the basis for monitoring the progress as identified smaller parts become measurable units.Work breakdown structure also provides accurate cost and schedule estimates for each of the tasks or components.
Project definition and risk management are the stepping stones on which work breakdown structure is built upon. Project deliverables provide the activity that defines a task. This step can be quite overwhelming. For example in case of a large project, it is not possible for a project manager to list all the detailed sub tasks required to complete a high level task in the project. He or she has to involve experts and other team members in the planning process.
A project manager constantly strives to achieve balance in the cost-schedule and quality equilibrium of the project. One of the techniques used to successfully manage the project is WBS. Work breakdown structure is a tool to break a project into its manageable components. It is basically a task list. WBS provides a detailed illustration of project scope. It clarifies the individual and team work assignments and builds those into an overall picture.
WBS becomes the basis for monitoring the progress as identified smaller parts become measurable units.Work breakdown structure also provides accurate cost and schedule estimates for each of the tasks or components.
Project definition and risk management are the stepping stones on which work breakdown structure is built upon. Project deliverables provide the activity that defines a task. This step can be quite overwhelming. For example in case of a large project, it is not possible for a project manager to list all the detailed sub tasks required to complete a high level task in the project. He or she has to involve experts and other team members in the planning process.
In a multidisciplinary project, outside subject matter experts, contractors and vendors may be employed to do some of the work in a project. They may be required to provide their own work breakdown structure.
Work package size is another key concept which helps keep tasks meaningful, manageable and under control. General guidelines of a work package ensure that tasks are accurately estimated, assigned and tracked. It makes a project manager's job a little less arduous when a work package is of correct size.
Work package size is another key concept which helps keep tasks meaningful, manageable and under control. General guidelines of a work package ensure that tasks are accurately estimated, assigned and tracked. It makes a project manager's job a little less arduous when a work package is of correct size.
Chapter 5 Risk Management
It is both astute and ironic to read Verzuh's ideas about risk management in today's economic scenario. Uncertainty is the buzz word everywhere. Most people are trying to deal with multiple risks at workplace, home ownership, stock portfolio and general market risks. To stay competitive and profitable, organizations have to systematically manage risks that may arise at various stages of a project. Project management essentially is risk management. A project manager has to constantly look for and be prepared to manage uncertainty. He or she identifies and monitor the known risks as the project progresses. Risk planning is constantly updated as some known risks don't materialise and some unknown risks may occur. Statement of work , budget , schedule , progress and other deliverables change in attempting to manage risks.
The risk management framework lays down the four steps of the process which may be repeated throughout the project. The project manager has to identify and prioritize potential risks and review any previous risks. The next step is to develop a strategy to avoid or respond in case of each of the identified risks. Obviously high priority risks get more attention and focus than the routine and low priority risks.
Risk management comes with its own costs. Additional funding has to be reserved to respond in case a risk occurs.The fourth step involves implementation, continuous monitoring and communication to the stakeholders of the project.
Tuesday, February 10, 2009
Chapter 3 and Chapter 4
Chapter 3
Verzuh defines " stakeholder" in a very simple and straight forward manner. Anyone who participates and is impacted by the project is a stakeholder. Successful project management involves coordinating, guiding and satisfying all the stakeholders. A project manager faces a seemingly arduous, even impossible task of identifying, leading and managing the core project team and everyone else with vested interest/stake in the project. Stakeholders contribute to the project in terms of funding, expertise and authority.
Project manager is the central figure around which other stake holders revolve to achieve the goals of a project. Skills and techniques of project management enable him or her to balance the multi-faceted role, a project manager has to play. One of the main tasks a project manager has to perform is to identify all the stakeholders of the project including himself/ herself. The project manager has to ascertain his own scope of authority, reporting obligations, rules and expectations.
The other key stakeholders are the core project team, peripheral team members, functional management, sponsors and customers. The core project team members are responsible for doing most of the work . They provide skills, expertise, time and effort required to run and complete the project. The project team managers are decided in the planning stage of a project. The responsibilities, roles, level of involvement of all team members are documented in statement of work.
Verzuh defines " stakeholder" in a very simple and straight forward manner. Anyone who participates and is impacted by the project is a stakeholder. Successful project management involves coordinating, guiding and satisfying all the stakeholders. A project manager faces a seemingly arduous, even impossible task of identifying, leading and managing the core project team and everyone else with vested interest/stake in the project. Stakeholders contribute to the project in terms of funding, expertise and authority.
Project manager is the central figure around which other stake holders revolve to achieve the goals of a project. Skills and techniques of project management enable him or her to balance the multi-faceted role, a project manager has to play. One of the main tasks a project manager has to perform is to identify all the stakeholders of the project including himself/ herself. The project manager has to ascertain his own scope of authority, reporting obligations, rules and expectations.
The other key stakeholders are the core project team, peripheral team members, functional management, sponsors and customers. The core project team members are responsible for doing most of the work . They provide skills, expertise, time and effort required to run and complete the project. The project team managers are decided in the planning stage of a project. The responsibilities, roles, level of involvement of all team members are documented in statement of work.
Another pivotal stakeholder is the customer who has the ultimate say in determining whether the project is successful or not. Customer provides financial resources for the project. So, it is important to accurately define a particular group as customer for the purpose of cost benefit analysis of the project.
Chapter 4
Every time a project begins, a new set of roles and responsibilities emerge. A firm foundation of of project specific rules has to laid. Project rules are created to address the following three factors:
1. Agreement by all stakeholders on the what the project has to achieve.
2. Scope of the project.
3. Management support.
The many stakeholders involved in the project i.e customers, management, project team need to agree on the documented goals, guidelines and rules of the project. It is a tough task to get so many parties to agree but it is impossible to propel the project off the ground without it. A project has to meet its stakeholder's expectations. These documented expectations become basic project rules.
The scope of every new project brings its own unique challenges. It has its own time and budget constraints. Overruns in terms of schedule and cost can pose a threat to a project. My capstone project deals with a situation wherein an organization despite having a unique as well as good quality product, is facing serious consequences because of cost overruns on its major ongoing projects.
Verzuh's example of 'Mission:Impossible' is an interesting example to launch into the subject of project charter. A project charter formally recognizes and announces the new project. It establishes expert and legitimate authority for the project. Customer and project sponsor are the best stakeholders to sign a charter. A significant change makes the existing charter obsolete and necessitates the issuing of a new charter.
SOW is probably a familiar document for all of us. It describes purpose, scope, goals, constraints and rules of a project. All stakeholders have to consider the statement of work, negotiate and modify it, if needed and finally agree to its contents.
The next step after the SOW is to prepare a responsibility matrix. This written document precisely defines the responsibilities of each party involved. It lists the major steps and activities of a project with appropriate stakeholder group and its authority.
Chapter 4
Every time a project begins, a new set of roles and responsibilities emerge. A firm foundation of of project specific rules has to laid. Project rules are created to address the following three factors:
1. Agreement by all stakeholders on the what the project has to achieve.
2. Scope of the project.
3. Management support.
The many stakeholders involved in the project i.e customers, management, project team need to agree on the documented goals, guidelines and rules of the project. It is a tough task to get so many parties to agree but it is impossible to propel the project off the ground without it. A project has to meet its stakeholder's expectations. These documented expectations become basic project rules.
The scope of every new project brings its own unique challenges. It has its own time and budget constraints. Overruns in terms of schedule and cost can pose a threat to a project. My capstone project deals with a situation wherein an organization despite having a unique as well as good quality product, is facing serious consequences because of cost overruns on its major ongoing projects.
Verzuh's example of 'Mission:Impossible' is an interesting example to launch into the subject of project charter. A project charter formally recognizes and announces the new project. It establishes expert and legitimate authority for the project. Customer and project sponsor are the best stakeholders to sign a charter. A significant change makes the existing charter obsolete and necessitates the issuing of a new charter.
SOW is probably a familiar document for all of us. It describes purpose, scope, goals, constraints and rules of a project. All stakeholders have to consider the statement of work, negotiate and modify it, if needed and finally agree to its contents.
The next step after the SOW is to prepare a responsibility matrix. This written document precisely defines the responsibilities of each party involved. It lists the major steps and activities of a project with appropriate stakeholder group and its authority.
Finally, a sound communication plan is laid out to effectively exchange information and provide feedback in an ongoing project. Disputes and conflicts often occur in the absence of a written communication strategy. The importance of communicating appropriate information to the right party in a timely manner can not be overstated.
Sunday, February 1, 2009
Chapter 1 and 2
Chapter 1
The first key idea from this chapter ( as well as the Chapter 2)differentiates a 'project' from the ongoing operations of an organization. A project is not repetitive. It is finite. A project may constitute of multiple smaller projects but they lead to a one time unique process. My project will result in a training module for the team leads and managers across the cross section of the company. The project management 101 training programs will be an ongoing process.
Dynamics of today's industry demand the use of project management skills in almost every workplace. Ever changing technology, ever increasing competition, changing business structures require the businesses to adapt at a much faster pace than it was in the past. The client for which I am producing the training program is facing pressure on all the above accounts. It can only survive and eventually hope to become profitable by monitoring and controlling cost, time and quality of its projects.
Chapter 2
The Project Environment
Traditional organizational structure has evolved to include the project managers alongside functional managers. Projects and ongoing operations require different managerial skills. It is easier and more predictable to manage ongoing activities which are repetitive in nature. Whereas the needs of a project are unique, dynamic and more challenging. The traditional staffing, general estimates of cost and schedules, traditional lines of authority and normal accounting practices cannot sufficiently support project managers. In my project, needs analysis showed clearly that the client organization was grappling with these challenges. Every time the regular quarterly reports showed cost over runs , it was too late to recover.
In chapter two, the author also puts forth the validity of project management applications in any industry. The techniques and methods from this discipline can be applied to technical, creative, financial, manufacturing and of course to management functions. Most projects are made up of multiple smaller projects transcending different functions and skill sets. A project follows its life-cycle regardless of its particular focus. In the project I am considering, the need for improving the quality with project management 101 exists among test writers, accounting staff, technical leads as well as finance and investments managers.
Project Management in a Changing World
The first key idea from this chapter ( as well as the Chapter 2)differentiates a 'project' from the ongoing operations of an organization. A project is not repetitive. It is finite. A project may constitute of multiple smaller projects but they lead to a one time unique process. My project will result in a training module for the team leads and managers across the cross section of the company. The project management 101 training programs will be an ongoing process.
Project management is definitely an art , which is being enriched by scientific techniques. Successful projects consist of agreement among team, client and management. A project has to have a controlled scope, clear plan, management support and constantly effective communication.Time, scope and resources of a project can only be managed efficiently by using science of management. In my project, it was essential that management of the company gets involved and support the requirement of a formal training program.
Dynamics of today's industry demand the use of project management skills in almost every workplace. Ever changing technology, ever increasing competition, changing business structures require the businesses to adapt at a much faster pace than it was in the past. The client for which I am producing the training program is facing pressure on all the above accounts. It can only survive and eventually hope to become profitable by monitoring and controlling cost, time and quality of its projects.
Chapter 2
The Project Environment
Traditional organizational structure has evolved to include the project managers alongside functional managers. Projects and ongoing operations require different managerial skills. It is easier and more predictable to manage ongoing activities which are repetitive in nature. Whereas the needs of a project are unique, dynamic and more challenging. The traditional staffing, general estimates of cost and schedules, traditional lines of authority and normal accounting practices cannot sufficiently support project managers. In my project, needs analysis showed clearly that the client organization was grappling with these challenges. Every time the regular quarterly reports showed cost over runs , it was too late to recover.
In chapter two, the author also puts forth the validity of project management applications in any industry. The techniques and methods from this discipline can be applied to technical, creative, financial, manufacturing and of course to management functions. Most projects are made up of multiple smaller projects transcending different functions and skill sets. A project follows its life-cycle regardless of its particular focus. In the project I am considering, the need for improving the quality with project management 101 exists among test writers, accounting staff, technical leads as well as finance and investments managers.
On the other hand, project managers have to be well versed with project environment, project specific business functions and technical skills. Success of a project is measured in its optimal achievement of time, budget and quality goals. Though difficult , it is possible to maintain a balance between these mutually dependent variables. For example, clients usually expect a simple but effective , cost efficient training module , delivered in time. It is the project manager's job to minimize any discrepancy between the realistic expectations and customer's perception.
Tuesday, January 27, 2009
Hi
Welcome to my first attempt at blogging. I am creating this blog for my info tech project management class. I grew up in northern India. After graduating from GND University, I taught sales management and consumer behaviour to graduate business program. After moving to US, I started post baccalaureate work at Cal State Hayward . After two semesters, we moved with our little one to Gilroy. Working towards my goal of earning a doctorate took a back seat to earning a living and raising a family. During this time, I worked with a management consultancy firm , helped my family open, remodel, manage and sell two businesses. Finally in 2007, I enrolled in MIST III to get going on my path.
I plan to use my capstone project as the project in this course.
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