Investopedia shares, Competitive advantages are conditions that allow a company or country to produce a good or service of equal value at a lower price or in a more desirable fashion. These conditions allow the productive entity to generate more sales or superior margins compared to its market rivals. Competitive advantages are attributed to a variety of factors including cost structure, branding, the quality of product offerings, the distribution network, intellectual property and customer service.
They say it’s never too late. Never too late to go back to school, learn ice-skating, undo a mistake or make a childhood dream come true. Wish the same could be said for project failures, unmet deadlines, and lost clients.
As project managers, we’ve all had a taste of at least one project gone awry. Where the damage was unfixable and repair out of question. The failure of which still haunts us, makes us wonder what we could have done to prevent it?
This is the 3rd post in our 5 part series on Resource Management. Post #1 covered Allocation. Post #2 was about using Effort vs Duration. Now in this post we'll discuss Collecting Data to make informed Resource Management decisions. When I reflect on our client engagements, there are a few common issues which come to mind. One is the lack of data collection which leads to inconsistent decision making.
I talk to companies of all sizes and find a consistent theme when talking to less mature organizations. They tell me they don’t need Project Management software to be successful. They can easily use Excel or MS project and/or SharePoint to manage their work.
I then ask a few questions:
In our last post on Resource Management we showed you the Rule of 60s and how it is beneficial when planning resource allocation. That tool is primarily used for Planning and Managing your Portfolio rather than building project specific schedules. In our post today, I'll review the differences between using Effort vs Duration when building your Project Schedule.
Let me start with an obvious statement, You can't execute a project if you don't have available people. However, what we encounter far too often is that organizations don't perform any sort of Resource Planning, Resource Analysis, Capacity Planning, Resource Management or whatever buzzword name we want to give it this week. Here are 5 tips to consider for effectively managing your resources to deliver projects and manage your portfolio.
The PMO, the Project Management Office. The team within an organization which is responsible for delivering projects. Imagine the responsibility and burden on the PMO leader. From my experience running several PMOs it goes a little like this.... You are in charge of delivering the most critical, strategic projects for the organization and you need to do it with limited resources and limited organizational span of control.
I've also found through working with many clients and talking with peers, that starting or improving a PMO should be done by simplifying the approach. Simplify to get early wins, and then start to expand influence within your organization as you build trust through successful delivery.
Our approach follows the P - M - O process;
Setting up a Project Management Office (PMO) can appear to be daunting. And let’s not kid anyone. It is. It actually is. It requires careful planning, deliberate relationship building, flawless execution and continuous improvement. Throw in a mix of doubters, “we’re not going to change”-ers, and differing demands, it makes the situation even more challenging.
Does this look familiar? I think everyone I know plays the game of "get ALL the toothpaste out of the tube!" That toothpaste probably cost us about $2.50 and we aren't going to throw it away until we know we've gotten every last drop of toothpaste out of it.
Why then, do organizations not treat projects like we treat toothpaste? Projects cost organizations $10,000 or $50,000 or $250,000 or a $1 million. Certainly more than the cost of a tube of toothpaste.
At the start of the new year Project Management leaders should take some time to be sure the organization is focused on delivering successful projects in 2018. But how do you do that? What are some of the key steps which need to be taken to give you the best chance for success?
Here are my top 3 areas you should be focused on:
Is there such a thing as Good vs Great Project Managers? Of course there is! Just as with any profession, some Project Managers are better than others. There are several items which can contribute to this differentiation such as; Consistency, Attitude, Experience, Background, Desire, Training and more. What I've found over the years is that the PM who has developed "soft skills" has an edge over PMs lacking these soft skills. Even more specifically, I've found through my experience there are 8 soft skills which are the most important for a PM to cultivate and grow.
I was a pretty decent baseball player back in the day. Lots of Business Lessons were learned between the lines; Leadership, Trust, Teamwork to name a few. Another lesson was the use of a Playbook. My freshman year of High School I was called up to the Varsity team and the coach gave me the team Playbook. I had never used a Playbook in baseball. Hit the ball, throw the ball, run. What was the need?
There are so many choices today when selecting Project Management Software. There are Enterprise PPM solutions, Cloud based or desktop based choices. We can even select apps to use on our mobile devices. There are tools which specialize in communication, collaboration, task management, gantt charts and more. Are you needing a tool for yourself, a small team, small or mid-sized business or perhaps a large corporation. Do you practice traditional Project Management, Agile, or hybrid methodology? So many selection criteria to assess. So how do you pick the right tool for your particular need?
We've all seen it.....
Hey John, can you please take on this project? Problem is, John isn't a Project Manager. We know how this is going to finish!
Over and over again organizations ask employees to take on Project Manager responsibilities for critical projects. Usually the reasoning being the employee is a subject matter expert or has seniority in the department. These top organizational employees are now put in a position in which they are not prepared. They haven't received Project Management training, are unfamiliar with tools, haven't had to negotiate resources, have never built a schedule and are being set up to fail. This all too common scenario has given birth to the Accidental Project Manager.
I am often asked, "Why do we need a PMO?" Regardless of industry the question is the same. If we have Project Managers then why do we need a PMO. I guess thats a fair question and it allows me to ask a few follow up questions to get a good dialogue started.
I'll ask my clients if they have an Accounting Department - Yes.
Do you have an Accounts Payable team/resources - Yes.
Do you have a set process for how you pay your vendors - Yes. See where this is going??