In over 20 years of experience in prioritizing, selecting, and managing projects, Antonio Nieto-Rodriguez has developed a simple framework that he calls the “Hierarchy of Purpose.” It is a tool that executive teams can use to help them prioritize strategic initiatives and projects.
Which projects are in the best interest of our company? What is the best use of its existing and future financial and operational capacities? Alternatively, which projects should we stop, suspend or delay in case of sudden economic downturn or change in our strategy? Providing the means to answer those questions more rationally is precisely the objective of project portfolio management (PPM). PPM is the … [ Read more ]
A handful of pragmatic tools can help managers decide which projects best fit their portfolio and risk tolerance.
Senior executives seem to neither understand project management nor regard it as an important means of business strategy execution. Only a few top business school’s Masters of Business Administration (MBAs) teach project management as part of their core course curriculum. I have spent the last 10 years trying to understand why.
Business performance management software can deliver great benefits, but many BPM software implementations fail as a result of the company’s inattention to some key characteristics of a successful initiative.
Lean Six Sigma brings rigor and discipline to project management, but its approach to project selection is lacking. A new approach incorporates a structured, enterprise-level view of metrics to jump-start corporate innovation.
An innovative approach to managing product portfolios—the strong-form model—can help companies stay ahead of change.
Large IT efforts often cost much more than planned; some can put the whole organization in jeopardy. The companies that defy these odds are the ones that master key dimensions that align IT and business value.
Some types of risk pose a peskier problem than others for the success of complex projects, but the outcome of large-scale initiatives ultimately rests on how capably managers and their subordinates can detect and respond to unforeseen emergencies. Changing requirements for the project, shifting customer needs, and communication breakdowns are the most frequent and damaging types of risk.
Projects often fail because organizations put more emphasis on rational factors than on employees’ psychological engagement — and the cost to organizations is enormous.
Surprises can be frustrating, but they often come with big opportunities.
Today’s business environment often demands complex, high-risk change efforts such as aggressive cost reduction, ambitious revenue enhancement, or bet-the-future turnaround programs. But the traditional project management office (PMO) is better suited to running departmental projects on time and on budget than to managing complex, interconnected, cross-enterprise efforts. What’s needed is an SIO—a strategic initiative office that focuses on organizational alignment and value delivery. The authors … [ Read more ]
Program management is now the preferred vehicle for bringing about major organizational and strategic change in many sectors. Unfortunately, former project managers entrusted with major programs are frequently not up to the task.
Jay Rollins shows you how to get away from using the old operational and strategic breakdown for aligning your organization’s IT projects. He also includes a link to a free example of a portfolio mix.
In a new paper, “Vital Signs for Virtual Teams: An Empirically Developed Five-Trigger Model of Leader Interventions,” Dominic M. Thomas reveals five triggers or indicators that virtual team leaders need to identify when monitoring team interaction and intervening to improve it. Among them, internal interference, such as team size and team-member cultural differences; information and communications technology (ICT) inadequacy, including reliability/availability issues; and dealing with … [ Read more ]
Recognition of the strategic importance of Project Management (PM) in the corporate world is rapidly accelerating. One reason for this acceleration may be strong belief by business leaders that aligning project management with business strategy can significantly enhance the achievement of organizational goals, strategies, and performance. This paper addresses three aspects of an under-researched topic in the strategic management literature, aligning project management with business … [ Read more ]
Usually, when an IT project fails, management is the last to know. But eventually, like a fish left too long in the refrigerator, the failure becomes all too obvious. When the situation reaches that point, your only option is the IT equivalent of pulling everything out of the refrigerator and scrubbing it out with baking soda.
But it doesn’t have to be that way. Conventional wisdom … [ Read more ]
You don’t have to be a genius to deliver a project on time, nor do you have to be steeped in a mystical project management methodology to be a project manager. This straightforward guide covers key principles and successfully planning and implementing a project. It includes the purpose of the project plan, the fine art of scheduling, risk management, and staying on track. [BNET Annotation] … [ Read more ]
Information Technologies (IT) are the central nervous system of today’s enterprise. At the same time, implementation of increasingly complex and interdependent IT systems results in a high rate of project failures and underperforming assets. In order to address this challenge, organizations need to adopt a dynamic, streamlined framework for IT implementation that is complementary with the formalized and rigid software development methodologies already in use. … [ Read more ]
The bigger and more complex a project gets, the more you need formal processes and techniques to effectively manage the work. This article explains the purpose, value, and implementation of the most critical aspects of successfully managing a project.