Leadership Lessons
Leaders should learn NOT to micromanage by building a trustworthy environment.Employees should learn to get into each detail and build on that trust. What do you think? Please share your thoughts in comments
Harnessing Generative AI for Project Management Excellence
In the dynamic world of project management, staying ahead of the curve is not just a goal; it’s a necessity. The advent of Generative AI (GenAI) has opened up new vistas for project managers to enhance efficiency, creativity, and decision-making, and this is how you can leverage GenAI to transform your project management approach. The …
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Setting up a PMO – Phase 3 – Rolling out the Plan
So you have the high level roadmap, a justified business case and a detailed plan to start executing the plan for setting up the PMO. So what are you waiting for? Lets start implementing the PMO Set-up. Quick Wins However, as discussed in the previous article, the things to take care during the roll out …
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Setting up a PMO – Phase 2 – The Planning Phase
In my previous article, we talked briefly about the first phase of setting up the PMO where we understand the current state and have a high level discussion with the stake holders and senior leadership to understand what we want to achieve in the PMO and where do we want to reach. In this article, …
Setting up a PMO: The Right Way
Every team, department or an organization grows over a period of time due to its well defined plan and path, execution and continuous improvement through regular and timely feedbacks. Same is the case with PMO. So, a PMO can be set-up by following the below mentioned phases: Phase 1 – Evaluate the …
Different goals of a PMO
When an organization sets up a PMO for managing projects, it consciously or subconsciously has the expectation of the following goals or benefits from a PMO. Functional goals Structural goals Disciplinary goals Functional goals are mostly related to the functions the PMO is going to focus on. Is the PMO needed to set up just standards, …
Project Budgeting Tips
Here are a few project budgeting tips to keep in mind when working on the project plan and the budget. Level of details of the budget depends on the culture of the company. (In fact, in many companies, the budgeting is taken care by financial specialists who take the planning details from the project or …
Project Budgeting – Estimations
In this session of Project Budgeting, let us explore on estimations. While progressing the planning of projects, there are 3 steps or phases in estimating. 1) Rough Order of Magnitude – This is the estimations that are usually done in the initial phase of the project when the team does not have enough knowledge on the …
Project Budgeting – Typical Costing Standards & Factors
In my previous blog, we discussed about some key steps that can help in project budgeting. In this session lets look at the typical costing standards that one needs to keep it in mind during budgeting process. TYPICAL COSTING STANDARDS Number 1 and most important which many overlook is to check with the accounting department …
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Why does an organization need a PMO
Program Management Office (PMO) has been an important aspect of any organization delivering products, projects or providing services. PMO is usualy needed for a number of reasons. The benefits of PMO are but not limited to: Bring in consistency in delivering products, projects or services. Provide transparent reporting. Ensure effective investment in all the projects. …
Role of a Portfolio Manager
Let us understand the role of the portfolio manager and how it differs from the role of project and program managers. Unlike project and program managers, portfolio managers do not actually manage work or teams, although they may have a portfolio management team. They manage the intake and performance of the portfolio, as well as …
Aligning a portfolio with Org Strategy
Lets look into the relevance of the portfolio alignment with the Organisational Strategy. For that, let us first understand what is organizational strategy, and then look at how portfolios align with that strategy. Organizational Strategy: Michael Porter says that strategy is about competitive position and about differentiating yourself in the eyes of the customer, and …
Defining, Aligning, Authorizing and Controlling a Portfolio
In this session, we will look into the important concepts around the Project Portfolio Management process. The key flows around portfolio management are Defining, Aligning, Authorizing and Controlling a portfolio. Defining: This function is focused on planning and identifying the corporate organizational strategy needed to deliver that strategy over a period of time. This includes creating key …
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The Case for Portfolio Management
As mentioned in my earlier post, “Project portfolio management — or simply portfolio management — is defined as the “centralized management of one or more portfolios that enable executive management to meet organizational goals and objectives through efficient decision making on portfolios, projects, programs and operations.” So who really needs portfolio management? A start up company or one who is responsible for investment and work to be accomplished within an …
Scrum or Kanban? It depends on the type of project
The Agile framework has 2 significant or Key methodologies in today’s software project environment. Both are equally efficient and produce results. However, if the right methodology is used after accessing the project you are handling, that is when you get the right results. Also, over a period of time, as the organization project management model changes, …
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Portfolio Management
On request from many, I am posting this article to cover the fundamentals on portfolio management. So what is portfolio management?There are many definitions available in different books and on the net. But, I would like to go with the standard one provided in PMI.“Project portfolio management — or simply portfolio management — is defined as the “centralized management of one or more portfolios that …
Actionables from Successful PMO's
In my previous article, I mentioned about what successful PMO’s do at the strategic level. To sum it up, they are strategically aligned, a vital part of the planning team, embrace core competencies, and show consistency in the project execution and yet flexible in their approach to managing change.So, the PMO have following key areas …
What successful PMO's do?
In today’ rapidly changing business environment, Project Management Offices (PMO’s) struggle to provide adequate support for the shifting priorities and faster delivery cycles. The basic reason for a PMO’s failure in an organisation has been that they have remained stuck to solely reporting and prioritization function focused on tactical project management. However, the need of …
Vital signs that tells you that Scope Management needs attention in your organization
Almost all projects would have a scope defined base. Those projects that don’t have a proper scope management in place would definitely be at a peril. Though most of the managers realize the importance of scope management in the first place, they almost fail to execute it properly. Either the processes are in place, but …
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Leadership Skills at all Levels for Project Success
Talking about successful projects, one aspect that comes to everyone’s mind is leadership skill needed to drive the project. When we talk of leadership skills, we normally attribute it to senior management at the programme or organisational level. What we do not realise is that leadership is actually required or rather necessary at all levels …
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10 Key Steps to Revive a Project
We all talk about successful projects and discuss mostly on pointers to make our project successful. However, what if a project is already in a difficult situation? For such projects, there are some common but yet critical steps that can be taken to help revive the project back. Projects commonly suffer from delays in …
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