The 11 fundamentals of project managementColorado Business Magazine. Editor's note: Here is another valuable excerpt from the new success book by national business consultant Laurence B.
Valant and partner Gayle W. Hustad, "Lead and Manage! The definitive guide for getting the results you want. " Over the years, we have worked with well known and highly respected companies which do a painstaking job of capital budgeting (summarizing all the projects that will require capital during the fiscal year), even calculating rates of return on the budgeted projects to four or more decimal places. And yet, in spite of their skill in the capital budgeting process, very few of these companies had effective project management systems or achieved the returns estimated so precisely.
Why? Out of more than 225 companies with which we have worked, less than what can be counted on one hand managed projects well. Ironically, by applying basic fundamentals, project management is easy to do well. Laurence B. Enjoy this article? OpenProj - Project Management. OpenProj - Project Management / Discussion / Discussion. Building a Social Media Team: The Project Manager. As the use and expectations of social media grow in the enterprise, so does the amount of work that’s necessary to realize goals.
Somebody has to manage that work or it will quickly spiral into uncoordinated threads that consume time and resources. In our series, Building a Social Media Team, we have looked at the community manager and social strategist. Now we will examine a role that exists to ensure what the community manager and social strategist envision actually happens — on time and on budget. Getting Things Done Many businesses that decide to invest in social underestimate the amount of work required for their social programs to be successful. Although this role may have different titles across organizations: Net magazine. Communication & Presentation books. IFB- Invitation for bid - Template - Lifecycle Knowledge Management Center.
The Hidden Costs and Dangers of the Shortcut. 5 Feb2009 We live in a world where we are often pressured to take shortcuts to save time and cut costs as much as possible.
However, if you're not a skilled and experienced project manager, the wrong shortcut could end up costing you a lot more. Here's an anecdote to think about. Let's say you are running a project, and the goal is to upgrade a road to a remote property. You solicit bids from several contractors and ask them to do it for the least cost possible, and you also stipulate you don't want to get any permits. None of the contractors are willing to work under those conditions, so you get your own earth moving equipment and a friend with some experience to help you upgrade your road. Delivering large-scale IT projects on time, on budget, and on value.
As IT systems become an important competitive element in many industries, technology projects are getting larger, touching more parts of the organization, and posing a risk to the company if something goes wrong.
Unfortunately, things often do go wrong. Our research, conducted in collaboration with the University of Oxford, suggests that half of all large IT projects—defined as those with initial price tags exceeding $15 million—massively blow their budgets. On average, large IT projects run 45 percent over budget and 7 percent over time, while delivering 56 percent less value than predicted. Software projects run the highest risk of cost and schedule overruns (Exhibit 1). These findings—consistent across industries—emerged from research recently conducted on more than 5,400 IT projects by McKinsey and the BT Centre for Major Programme Management at the University of Oxford. Exhibit 1 The performance of different types of IT projects varies significantly. Manufacturer sues IBM over SAP project 'disaster' IBM has been slapped with a multimillion-dollar lawsuit by chemical products manufacturer Avantor Performance Materials, which alleges that IBM lied about the suitability of an SAP-based software package it sells in order to win Avantor's business.
In 2010, Avantor decided to upgrade its ERP (enterprise resource planning) platform to SAP software, according to the lawsuit, filed Thursday in U.S. District Court for the District of New Jersey. "Seizing upon Avantor's decision -- and fully aware that, given the competitive pressures of Avantor's industry, and the specialized demands of its customers, Avantor could not tolerate any disruptions in customer service -- IBM represented that IBM's 'Express Life Sciences Solution' ... was uniquely suited to Avantor's business," the lawsuit states.
"The Express Solution is a proprietary IBM pre-packaged software solution that runs on an SAP platform. " Southwest Airlines The Making of Florida One. Learn More About Who PMI is and What We Do. Project Management Institute is the world's leading not-for-profit professional membership association for the project, program and portfolio management profession.
Founded in 1969, PMI delivers value for more than 2.9 million professionals working in nearly every country in the world through global advocacy, collaboration, education and research. S Globally Recognized and Acclaimed Certification Program. 5 valuable tips for good project management. There's been quite a bit of conversation over the value of project managers.
Not necessarily good project managers; just project managers in general. The thing about the argument is that the role depends on the organisation (if you have one, it makes a big difference too) and the clients you hire. Yes, some companies, large or small, need project managers. Building a Social Media Team: The Project Manager. Untitled.