project management - delivering efficiency & effectiveness
TRANSCRIPT
2015 © Rashid Mohiuddin http://www.rashidmohiuddin.com
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Project Management
Driving Business Effectiveness & Efficiency
2015 © Rashid Mohiuddin http://www.rashidmohiuddin.com
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REVISITING PROJECT MANAGEMENT
2015 © Rashid Mohiuddin http://www.rashidmohiuddin.com
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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
2015 © Rashid Mohiuddin http://www.rashidmohiuddin.com
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Project – In Business Environment
Business Operations
Change
Projects
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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
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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
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Project Management -Failures
£224M Losses Contributor to $1B loss
360 lives lost
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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
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PROJECT MANAGEMENT-CORE AREAS, CHALLENGES, & IDEAS
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Core Knowledge Areas
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Scope Management
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Scope Management -Common Challenges
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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
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Time Management
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Time Management -Common Challenges
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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.
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Cost Management
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Cost Management -Common Challenges
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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.
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Quality Management
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Quality Management -Common Challenges
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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.
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Risk Management
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Risk Management -Common Challenges
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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 .
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Other Core Knowledge Areas
Integration Management
HR Management
Communication Management
Procurement Management
Leadership
Negotiations
Problem Solving
Conflict Resolution
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PROJECT MANAGEMENT-FRAMEWORKS & METHODOLOGIES
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PMP®
> 500K holders
10 Knowledge Areas
5 Process Groups
47 Processes
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PMP® – Knowledge Areas
Integration Management
Scope Management
Time Management
Cost Management
Quality Management
HR Management
Communication Management
Risk Management
Procurement Management
Stakeholder Management
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PRINCE2®
900K holders
7 Principles 7 Processes 7 Themes
Now Axelos
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PRINCE2® – Themes
Business Case
Organization Quality
Plans
RiskChange
Progress
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CITPM®
?
12 Knowledge Areas
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CITPM® – Knowledge Areas
Integration Management
Scope Management
Time Management
Cost Management
Quality Management
HR Management
Communication Management
Risk Management
Procurement Management
Personal Competencies
Client/Customer Environment
Complex Project Mgmt
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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