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 …
Read more “Project Budgeting – Typical Costing Standards & Factors”
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 …
In this blog, let’s further discuss on how to integrate and continuously improve portfolio management methods and review key deliverables needed to support portfolio management practices. Portfolio Management Methods and Key Deliverables: 1) Assess the current state by talking with stakeholders This is the first step, and normally includes determining which portfolio management processes exist,which …
Read more “Portfolio Implementation and Continuous Improvement”
Project portfolio management presents a complex set of challenges: Primarily multiple projects need to be configured and managed in a way to enhance the long-term strategic value of the portfolio while considering multiple criteria and interdependencies. Value maximization has been stated as one of the key goals in project portfolio management. The starting point for …
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 …
Read more “Leadership Skills at all Levels for Project Success”
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 …
You may be focused on your Agile processes, tools and techniques. But, all this may not be delivering the right value to the customer. At the end of the day, it’s the customer who has to be benefit from the deliveries made through iterations and Release delivery. If we re-look at the traditional Iron triangle, …
Read more “Is your Agile project focused on delivering the right value?”
The Time value of money for projects is calculated not only in terms of money, but also in terms of: Return on Investment (RoI) Customer satisfaction Employee satisfaction Innovation Rate Customer Usage Customer retention …
Read more “Forecasting the Financial Stability of the Project”
The other day, one of the project managers posed an interesting question: If we plan well in ahead, are we still agile? And the subsequent reasoning was: In Agile, we don’t need to plan in the real sense. I resolved his doubts and also thought of sharing the wisdom with the world. First …
Here are 3 quick and effective tips for successful projects based on my experience in handling projects. These tips are applicable for almost all type of projects irrespective of whether they are small, medium or large. What can vary is the level and magnitude to which you apply these tips. Alignment to the vision: Most …
A fundamental question asked very often is what is Project Success? When do you say that a project is really successful. Many a times, you complete a project and realize that it did not add any value to the business and was shelved. Would it be still termed as a successful project? The team would …
A project kickoff is extremely useful to ensure that all the stakeholders are aligned to the project right during the beginning of the project itself. Hence, if utilized well, it can reap many benefits during the course of the project. So, while doing a project kick off, be aware that it can be very crucial …
Read more “4 Key points to take care during a Project Kickoff”
Most of the time, we face this question while tracking our projects. “Are the team members really working on the project so as to complete the deliverables on time?” If not all, the doubt comes when we observe a couple of team members giving a positive status but we do not see substantial progress in …
10 COMMANDMENTs FOR EFFECTIVE RISK MANAGEMENT The main idea is to list out the important aspects that can help in effective risk management. You can view the summarized video here. I – Thou shall ensure that the importance of risk management has buy in from top management. II – Thou shall involve all stakeholders during …
Risk is a major factor that affects all projects. In fact, statistics show that projects fail mostly because risks and issues are not managed effectively. This is evident from the fact that risks covers major areas of scope, time, cost and quality. Why I decided to write on display of risk management in Enterprise …
Read more “How to show risk information in Enterprise Project Management Dashboard”
In any project, organization or industry, change is inevitable. For the biggest challenge for a project manager is to manage changes in a project. Though lots of effort is being spent on tackling changes, the most common, effective and useful technique is the Force Field Analysis. Force Field Analysis was developed by Kurt Lewin, an …
You must be logged in to post a comment.