Project management - Delivering Efficiency & Effectiveness

2015 © Rashid Mohiuddin http://www.rashidmohiuddin.com

http://sg.linkedin.com/in/rashidmohiuddin

Project Management

Driving Business Effectiveness & Efficiency



REVISITING PROJECT MANAGEMENT



Project - Definition

A project is a temporary endeavor undertaken to create a unique product, service, or result. (PMBOK, 5th Edition)

TemporaryTemporary UniqueUnique

TimeTimeAdditional

Money

Additional Money

OutcomeOutcome PeoplePeopleMeasurements

Measurements



Project – In Business Environment

Business Operations

Change

Projects



Project Management -Definition

(PMBOK, 5th Edition)

“The application of knowledge, skills, tools and techniques to project activities to meet project requirements”

InitiatingInitiating PlanningPlanning ExecutingExecuting

Monitoring & Control

Monitoring & Control

ClosingClosing



Project Management -Shortcomings

Only 56% strategic initiatives meet their original goals.

$109M lost for every $1B invested in projects and programs

PMI’s Pulse of the Profession: The High Cost of Low Performance, 2014

17% of large IT projects go so badly that they can threaten the very existence of the company.

McKinsey & Company with the University of Oxford, 2012

70% of organizations have suffered at least one project failure in the prior 12 months.

KPMG (New Zealand), 2010

75% of project participants lack confidence that their projects will succeed.Geneca,2010-11



Project Management -Failures

£224M Losses Contributor to $1B loss

360 lives lost



Project Management Maturity - Benefits

Successful Projects

89% vs. 36%Source: PMI’s Pulse of the Profession: The High Cost of Low Performance, 2014

Wastage12 times less

Source; PMI survey, 2012



PROJECT MANAGEMENT-CORE AREAS, CHALLENGES, & IDEAS



Core Knowledge Areas



Scope Management



Scope Management -Common Challenges



Scope Management -Few Ideas

Change Management process,

structure and education

Deliver value incrementally and in iterative manner. Improve risk

management and customer satisfaction

Do less of what is not important



Time Management



Time Management -Common Challenges



Time Management -Few Ideas

Old and tested method to know your “critical project path” and

activities/resources.

Prepare your team for dealing with “unknown” on the way. Plan

progressively

Maintain project records, not for reporting, but for your future

projects also.



Cost Management



Cost Management -Common Challenges



Cost Management -Few Ideas

Never, ever, mess with financial policies. Learn and stay on the right

side no matter what happens.

Things will vary, and your cushion is the reserve (contingency budget).

Admit there are things you don’t

know and don’t be ashamed of asking your colleagues.



Quality Management



Quality Management -Common Challenges



Quality Management -Few Ideas

Quality is teamwork.

As Peter Drucker said, you can only manage what you can measure. Do

you have quality metrics and tools to measure them?

Yes, consultant can be helpful!

Particularly if you are bidding for projects in specialized and/or public sector projects.



Risk Management



Risk Management -Common Challenges



Risk Management -Few Ideas

Risk are often identified at the crossings of functional and

technical lines. So have an open and collaborative environment.

Your risk management is as good as your risk identification. So be

active; risks wont knock your door themselves.

The risk identification and management requires specialized

knowledge. Your inactive team members (inform/consult only) are equally important when it comes to

risk management .



Other Core Knowledge Areas

Integration Management

HR Management

Communication Management

Procurement Management

Leadership

Negotiations

Problem Solving

Conflict Resolution



PROJECT MANAGEMENT-FRAMEWORKS & METHODOLOGIES



PMP®

> 500K holders

10 Knowledge Areas

5 Process Groups

47 Processes



PMP® – Knowledge Areas


Scope Management

Time Management

Cost Management

Quality Management

HR Management


Risk Management


Stakeholder Management



PRINCE2®

900K holders

7 Principles 7 Processes 7 Themes

Now Axelos



PRINCE2® – Themes

Business Case

Organization Quality

Plans

RiskChange

Progress



CITPM®

?

12 Knowledge Areas



CITPM® – Knowledge Areas


Scope Management

Time Management

Cost Management

Quality Management

HR Management


Risk Management


Personal Competencies

Client/Customer Environment

Complex Project Mgmt



Good News!

15.7 million new project management roles will added

globally by 2020 across 7 project-intensive sectors:

• Finance

• Manufacturing

• Business Services

• Oil & Gas

• Construction

• Utilities

• Information Services

Source: PMI 2013 Project Management Talent Gap

Report

Project management - Delivering Efficiency & Effectiveness

Leadership & Management

Transcript of Project management - Delivering Efficiency & Effectiveness