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- 4. (Usually…) Everyone is on the same side—OURS Everyone is bound by the success of the project Everyone has to continue to work together Project management is NOT a contest.
- 5. On the field of battle, the spoken word does not carry far enough, hence the institution of gongs and drums. Nor can ordinary objects be seen clearly enough: hence the institution of banners and flags. Ancient Chinese Book of Army Management.
- 6. 1. What is a Project? • All projects have a beginning, a middle and an end. Beginning Middle End
- 7. Beginning Middle End • A definition: • “A temporary endeavor undertaken to accomplish a unique purpose”
- 8. Projects have a common set of characteristics which can also be defined by what they are not A target outcome A defined life span Cross organisationa l participation New or unique Time, Cost and performance requirements
- 9. Projects have a common set of characteristics which can also be defined by what they are not A target outcome A defined life span Cross organisational participation New or unique Time, Cost and performance requirements
- 10. Explorations Go on indefinitely One team or one person working alone Creating the same thing multiple times No constraints on time, cost or performance What a project isn’t
- 11. Explorations Go on indefinitely One team or one person working alone Creating the same thing multiple times No constraints on time, cost or performance Assignment: analyse the Project sheets from the project wall or NQ project concerning: 10 minutes.
- 12. Process Groups • All projects typically go through these five processes Plan Monitor & Control Implement Close Initiate
- 13. Assignment: In what stage of the process are the projects now? 10 minutes Plan Monitor & Control Implement Close Initiate
- 14. • A process is a series of actions directed towards a particular result. Step 1 Step 2 Step 3 Result activityinputs outputs
- 15. Figure 1.1 Project Life Cycle (Gray & Larson, 2006, p6)
- 16. The Triple Constraint Also known as the IRON TRIANGLE Time Scope Cost
- 17. Quality The Quadruple Constraint • Warning: Quality has many definitions Time Scope Cost
- 18. Quality Assignment: check the 4 scopes and apply it on the projects Time Scope Cost 10 minutes
- 19. What is Project Management? Advantages of Project Management: • Better control of financial, physical, and human resources • Improved customer relations • Shorter development times • Lower costs • Higher quality and increased reliability • Higher profit margins • Improved productivity • Better internal coordination
- 20. Performing Organisation Project Manager Client - Sponsor Project Teamstakeholders stakeholders stakeholders stakeholders
- 22. Figure 1.2 Project Management Framework (Schwalbe, 2006, p9)
- 27. Remember this? • The first four knowledge areas are • Core Functions
- 28. • The next four knowledge areas are Facilitating Processes Integration Management Time Management Cost Management Scope Management Quality Management HR Management Risk Management Communication Management Procurement Management
- 29. Integration Management – pulling it all together Integration Management Time Management Cost Management Scope Management Quality Management HR Management Risk Management Communication Management Procurement Management
- 31. Strategic Planning 1. What is strategy? 2. How do projects relate to strategy?
- 32. The strategy is simple, I think. The strategy is to have a practice, and what it means to have a practice is to regularly and reliably do the work in a habitual way. Seth Godin.
- 33. 5 Forces analysis Supplier power Customer power Threat of New Entrants Substitutes Intensity of competition Michael Porter’s ‘5 Forces’ – 1980’s
- 34. business model template VALUE PROPOSITION COST STRUCTURE CUSTOMER RELATIONSHIP TARGET CUSTOMER DISTRIBUTION CHANNEL VALUE CONFIGURATION CORE CAPABILITIES PARTNER NETWORK REVENUE STREAMS INFRASTRUCTURE CUSTOMEROFFER FINANCE Osterwalder’s Business Model framework 2006 http://business-model-design.blogspot.com
- 35. Process efficiency Scorecard Customer satisfaction Financial Learning and innovation Balanced Scorecard Kaplan & Norton (1994?) HBR
- 36. • Strategic Management Overview – Involves determining long-term objectives, predicting future trends, and projecting the need for new products and services – Provides the theme and focus of the future direction for the firm • respond to change • allocating scarce resources – Requires strong links among mission, goals, objectives, strategy, and implementation
- 41. Set (SMART) Goals Review Mission Develop Strategies Implement Strategies through projects Align Strategies to goals
- 42. SWOT = SITUATIONAL ANALYSIS Where are we now?
- 43. S T W O
- 47. Assignment: take one of your own projects from the project wall and apply the SWOT analysis. 10 minutes
- 48. Set (SMART) Goals Review Mission Develop Strategies Implement Strategies through projects Align Strategies to goals
- 49. http://en.wikipedia.org/wiki/SMART_(project_management) S Specific M Measurable A Achievable R Relevant T Time-bound
- 50. Letter Major Term Minor Terms S Specific Significant[3], Stretching[3], Simple M Measurable Meaningful[3], Motivational[3], Manageable A Achievable Agreed, Attainable[6], Assignable[2], Appropriate, Actionable, Action-oriented[3] R Relevant Realistic[2], Results/Results-focused/Results-oriented[6], Resourced[7], Rewarding[3] T Time-bound Time framed[2], Timed, Time-based, Timeboxed, Timely[6][5], Timebound, Time-Specific, Timetabled, Trackable E[1] Exciting, Evaluated, Ethical R[1] Recorded, Rewarding, Reviewed[8] http://en.wikipedia.org/wiki/SMART_(project_management)
- 51. Assignment: take one of your own projects from the project wall and apply SMART. S Specific M Measurable A Achievable R Relevant T Time-bound 10 minutes.
- 52. Set (SMART) Goals Review Mission Develop Strategies Implement Strategies through projects Align Strategies to goals
- 54. Assignment: take the model of Porter and apply it to the project.
- 55. Set (SMART) Goals Review Mission Develop Strategies Implement Strategies through projects Align Strategies to goals
- 56. Set (SMART) Goals Review Mission Develop Strategies Implement Strategies through projects Align Strategies to goals
- 57. projects
- 60. Not all project proposals make it to initiation
- 61. Every project idea isn’t progressed. Why?
- 62. Time Money Focus
- 63. Financial Analysis $$$ Net Present Value Payback model Return on Investment (there are more)
- 64. Net Present Value Net Present Value (NPV) Model Uses management’s minimum desired rate- of-return (discount rate) to compute the present value of all net cash inflows positive NPV: the project meets the minimum desired rate of return and is eligible for further consideration negative NPV: project is rejected Net Present Value (NPV) Model cont’d… NPV Calculations determine estimated costs / benefits for the life of the project and products it produces determine discount rate (ask organization) calculate the NPV some organizations consider the investment year as year 0, others consider it year 1 some organizations enter costs as negative numbers, others do not (ask organization) Example: CP829_Lecture_Week2_NPV.xls Time to Stop and turn to a new presentation pack
- 65. Payback model Figure 4.1 Charting the Payback Period (Schwalbe, 2006, p129) Measures the time it will take to recover the project investment Shorter paybacks are more desirable Payback occurs when cumulative discounted benefits and costs are greater than zero Limitations of payback: • ignores the time value of money • assumes cash inflows for investment period only • does not consider profitability
- 66. Return on Investment Return on Investment (ROI) Calculated by subtracting project costs from the benefits and then dividing by the costs Formula: ROI = (total discounted benefits – total discounted costs) / discounted costs Higher the ROI, the better. Many organizations have a set or minimum rate of return on investment projects (total discounted benefits – total discounted costs) discounted costs
- 68. $$$ Weighted scoring model A weighted scoring model is a tool that provides a systematic process for selecting projects based on many criteria – Steps in identifying a weighted scoring model: • identify criteria for project selection • assign weights (%) to criteria add up to (100%) • assign scores to each criteria for each project • multiply scores by weights to get total scores – The higher the weighted score, the better $$$
- 69. $$$ Balanced Scorecard •Balanced Scorecard – Robert Kaplan and David Norton developed this approach to help select and manage projects that align with business strategy – Methodology that converts an organization’s value drivers, such as customer service, innovation, efficiency, and financial performance, to a series of defined metrics – See http://www.balancedscorecard.org for more information $$$
- 70. “The reasons for the increase in successful projects vary. First, the average cost of a project has been more than cut in half. Better tools have been created to monitor and control progress and better skilled project managers with better management processes are being used. The fact that there are processes is significant in itself.” (Standish Group cited in Schwalbe, 2004, p13)
- 71. “The reasons for the increase in successful projects vary. First, the average cost of a project has been more than cut in half. Better tools have been created to monitor and control progress and better skilled project managers with better management processes are being used. The fact that there are processes is significant in itself.” (Standish Group cited in Schwalbe, 2004, p13) Smaller projects Better tools Better training
- 73. Things you should have (if you want to succeed) 1. Executive support 2. User involvement 3. Experienced project manager 4. Clear business objectives 5. Minimized scope 6. Standard software infrastructure 7. Firm basic requirements 8. Formal methodology 9. Reliable estimates 10. Other criteria, such as small milestones, proper planning, competent staff, and ownership
- 74. 20 minute break
- 76. Project Partnering is a process of transforming contractual arrangements into a cohesive, collaborative team that deals with issues and problems encountered to meet a customer’s needs
- 77. Assumptions 1. the traditional adversarial relationship between the owner and contractor is ineffective and self-defeating 2. that both parties share common goals and will mutually benefit
- 78. Reduced administrative costs Better resource use Improved communication Improved performance Advantages
- 79. Existence of common goals High costs of the adversarial approach Shared benefits of the collaborative approach These things help
- 80. These things don’t Conflicting goals Lack of trust Highly formal relationship Pushing people before they are ready
- 82. Types of Contracts Fixed Price Cost Plus AKA Lump Sum AKA Time and Materials
- 84. Culture is a system of shared norms, beliefs, values, and customs that bind people together, creating shared meaning and a unique identity
- 85. You (and I) need to make adjustments when dealing with people from other cultures.
- 86. Relativity of time and punctuality Culture-related ethical differences Personal and professional relationships Attitudes toward work and life
- 87. Culture Shock The natural psychological disorientation that people suffer when they move into a different culture
- 88. Successful partner relationships begin with the search.
- 89. And just like you have to develop a team, you have to develop partner relationships.
- 90. Selecting Team building Project managers Project stakeholders Expand the partnership commitment to include other key managers and specialists Build a collaborative relationship among the project managers. Voluntary, experienced, willing, with committed top management.
- 91. Good people are hard to find. So are good business partners.
- 92. If you find good partners you want to stick with them
- 93. Establish a “we” as opposed to “us and them” attitude toward the project Co-location: employees from different organizations work together in same location Establish mechanisms that will ensure the relationship withstands problems
- 94. Problem resolution Continuous improvement Joint evaluation Persistent leadership
- 95. It is important to Celebrate Success
- 96. At major milestones and the ended of the project Conduct a jointly review of accomplishments and disappointments. Hold a celebration for all project participants. Recognize special contributions
- 97. It’s about reinforcing positive behaviour
- 100. Cultural differences are forgotten or ignored
- 101. The wrong measurements are applied
- 102. The wrong incentives are in place
- 103. Negotiation: Art or science?
- 104. Principled Negotiations call for Separating the people from the problem Focusing on interests, not positions Inventing options for mutual gain And whenever possible, use objective criteria to help you achieve your goals
- 105. If pushed, don’t push back Ask questions instead of making statements Use silence as a response to unreasonable demands Ask for advice and encourage others to criticize your ideas and positions work toward a win/win scenarioWarnings for dealing with Unreasonable People
- 106. Your goal is a happy customer
- 107. So what makes a customer happy?
- 108. The negative effect of dissatisfied customers is far greater than positive effect of satisfied customers (Richins 1983)
- 109. The negative effect of dissatisfied customers is far greater than positive effect of satisfied customers (Richins 1983) In today’s modern communications environment that message can travel faster and wider (Hoch, 2006)
- 110. Every customer has performance expectations and perceptions (Parasuraman 1991)
- 111. Satisfaction is a perceptual relationship! Perceived performance Expected performance
- 112. Project managers must be skilled at managing both customer expectations and perceptions
- 113. Your checklist; Don’t oversell the project; better to undersell Develop a well-defined project scope statement Share significant problems and risks Keep everyone informed about the project’s progress Involve customers early on decisions about project development changes Handle customer relationships and problems in an expeditious, competent, and professional manner Speak with one voice Speak the language of the customer
- 116. The strategy is simple, I think. The strategy is to have a practice, and what it means to have a practice is to regularly and reliably do the work in a habitual way. Seth Godin.
- 118. @pieterspinder Haarlem, 19th May 2013