Professional Development

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The Future of Project Management: Advanced Project Management Concepts

Changing Times: Growth of Project Management 2.0

July 30 & 31, 2014
Wednesday 5 pm - 8 pm, Thursday 8 am - 3 pm
9 PDU; Fee: $899; Baldwin Wallace, Berea
Instructor: Harold Kerzner 

It has taken several decades for executives to become convinced that project management can and does work well. With this realization, executives have begun delegating more authority to project managers, especially with regard to decision-making, and have also recognized the application of project management to more long-term, complex projects that require the use of virtual teams and may be remotely removed from the parent company.

We have changed our definition of project success to include more elements than just the triple constraint. Benefits and value are now part of the success criteria. However, on the large, complex projects, which may take years to complete, there may exist a multitude of stakeholders all of whom have a different success criteria for the project.  Project managers must now become experts in stakeholder management where topics such as politics, religion, virtual teams, and managing resources with questionable capabilities take on paramount importance.

The larger and more complex the project, the greater the likelihood of scope creep. Project managers must learn how to manage scope creep, perform project health checks, and find ways to recover a distressed project before it becomes a failure. This will require the creation of additional metrics and key performance indicators.
 
For more than four decades, we relied solely upon time and cost as the only two metrics needed to manage a project. We knew that time and cost alone could not determine the project's health, nor were they a good indicator of project success or failure. Today, we are entering a new era in project management, entitled PM 2.0, where project information can be provided to everyone rather than just a selected few. We may have as many as fifty metrics on a project and the eight to ten critical metrics are called key performance indicators (KPIs). The project manager and the client will meet at the beginning of the project, determine the success criteria, the supporting metrics, the KPIs, and how they will be reported on a dashboard. Each project can have a different set of metrics and KPIs, as well as different dashboard reporting requirements. The ultimate goal is to reduce costly paperwork and see how close we can get to "paperless project management" without sacrificing the integrity by which we manage the project.
We are also creating value-reflective or value-based metrics that can measure the growth in the value of the project as the project progresses. Measuring and reporting value metrics improves client satisfaction and leads to more business. It also provides us with more meaningful information on when to cancel a project. Metrics and KPIs, if used correctly, allows for informed decision making and improved performance.


Learning Objectives:

  • The driving forces for better Metrics
  • Understanding Metrics
  • Key Performance Indicators (KPIs)
  • Understanding Targets for Metrics and Understanding The Importance of Value
  • Understanding Value-Based Metrics
  • Understanding Dashboards
  • Metrics Management Concerns

Who should attend: Designed for managerial personnel, project managers, and anyone involved in leveraging the organization by using project management as a strategic management tool.

Course Outline: 

1. How Executives View Project Management
A.   Today's view of project management
B.   How executive support has changed
C.  How today's executives view project management
D.  Developing global project management capability
   
2. Managing Complex Projects
A.     Defining complex projects
B.     Traditional vs. nontraditional projects
C.    Why complex projects are necessary for global growth
D.    The need for business solution providers
 
3. Public Versus Private Sector Project Management
A.     Understanding the differences
B.     Why public sector projects fail
 
4. Project Governance
A.     Sponsorship versus governance
B.     Governance responsibilities
C.    Governance authority
 
5. Why Some Projects Fail
A.    The definition of project success
B.    The definition of project failure
C.    Categories of success and failure
D.    The difficulty in cancelling projects
E.    The need for an “exit” champion
F.     Why IT projects have a high failure rate
 
6. The Management of Scope Creep Projects)
A. Understanding scope creep
B. Causes of scope creep
C. Ways to minimize scope creep
 
7. Performing Project Health Checks
A.   Critical health check issues
B.   Misconceptions about health checks
C.   Project audits versus project health checks
D.   Selecting the health check leader
 
8. Recovery Project Management (Managing Distressed
    Projects)
A.   Looking for early warning signs
B.   Dangers in the continuation of the death spiral
C.   What you will inherit (i.e. team morale)
D.   Life cycle phases for recovery
 
9. Value-Driven Project Management
A.     Importance of value
B.     Changing values in project management
 
10. Managing Crisis Projects
A.     Defining a crisis project
B.     Examples of crisis projects
 
11. Best Practices and Methodologies
A.     Understanding the need for a methodology
B.     Characteristics of a methodology
C.    Examples of methodologies
 
12. An Introduction to Project Givebacks (Best Practices)
A.   Why are givebacks and best practices important?
B.   Structuring a process for capturing best practices
C.   What is a best practice in project management?
D.   Where do we look for best practices?
E.   Creating a best practices template
F.   Defining categories or levels of best practices
G.   Best practices failures
 
13. Journeys to Project Management Excellence
A.     Types of project management maturity models
B.     Driving forces for project management excellence
 
14. The Project Management Hexagon of Excellence
A.     Components of excellence
B.     Examples of excellence
 
15. The Project/Program Management Office
A.     Responsibilities of a PMO
B.     Types of PMOs
C.    Examples of PMOs
 
16. Changing Times: PM 2.0
A.   Understanding Web 2.0 and PM 2.0 characteristics
B.   The growth of PM 2.0
C.   Comparing PM 1.0 and PM 2.0
D.   The impact of collaborative software
 
17. The Driving Forces for Better Metrics
A.   The growth in complex projects
B.   The growth in stakeholder involvement in projects
C.   The growth in stakeholder information needs
D.   The growth in information management
E.   The growth in intellectual capital
F.    The need for paperless project management
G.   The need for informed decision making
H.   The need for dashboard reporting systems
I.     The need for better metrics, including value-reflective metrics
J.    How metrics may change future versions of the PMBOK® Guide
 
18. Understanding Metrics
A.   The growth in metric-driven project management
B.   Why time and cost metrics alone are insufficient
C.   Reasons for using more metrics
D.   Getting stakeholder/customer agreements
E.   The need for drill down capability
F.    Metrics and complex projects
G.   Metrics and competing constraints
H.    Defining metrics
I.      Characteristics of a metric
J.    The core metrics
K.   Selecting metrics for health checks
L.    Other categories of metrics
M.   Metrics and measurements
N.   Determining the number of metrics
O.   Metrics and information systems
P.   Metric naysayers
Q.   Understanding that not all metrics can be used
        
19. Understanding KPIs
A.   Metrics versus KPIs
B.   Dissecting KPIs
C.   Selecting the right KPIs
D.   The measurement inversion
E.   Ways to define a KPI
F.    Differentiating metrics from KPIs
G.   KPIs and dashboard reporting practices
H.   Proper selection of KPIs
I.      KPI dependencies
 20. Project Size, Complexity and Failure
A.  How project size and complexity affects metrics
B.  Understand project failure
C.  Establishing a project safety net
 
 21. Problem Solving and Decision Making
A. How metrics help problem solving
B. How metrics help decision making
C. How metrics help tradeoff analysis    
           
22. Metrics and Stakeholder Relations
A.  Why stakeholder relations management has changed
B.  The importance of metrics for stakeholders
C.  The benefits of providing better metrics to stakeholders
 
23. Graphical Representation of Metrics and KPIs for Dashboard Reporting
A.   Customer satisfaction display
B.   Best practices usage display
C.   Variance displays
D.   CPI/SPI displays
E.   Management reserve displays
F.    Resource utilization displays
G.   Deliverables displays
H.   Risks display
I.      Assumptions display
J.    Constraints display
K.   Scope changes display
L.    Baseline revisions display
M.   Action items display
N.   Complexity factor display
O.   Creating a metrics library template
 
24. Identifying Metric and KPI Targets
A.   Understanding targets
B.   Examples of targets
C.   The complexity of stretch targets
D.   The boundary box
E.   Setting integrity limits
 
25. Metric and KPI Measurements
A.   The driving forces for better measurement techniques
B.   Today's view of measurement
C.   Measurement techniques
 
26. Understanding Value-Reflective Metrics and KPIs
A.   The need for a value measurement system
B.   The value KPI boundary box
C.   Attributes of a value metric
D.   Value metric measurements
E.   Weighting factors for value-based metrics
F.    Industry examples of value-based metrics
G.   Causes for value metrics failure
 
27. Understanding Dashboards
A.   Purpose of a dashboard
B.   Types of dashboards
C.   Rules for dashboard design
D.   Examples of dashboards
E.   Growth of infographics
F.    Dashboard alerts
G.   Dashboard security concerns
H.   Selecting the right dashboard images
a.    Common images
b.    Column and bar charts
c.    Line charts
d.    Area charts
e.    Pie charts
f.     The "square" pie chart
g.    Donut charts
h.    Gauges
i.      Why some image do not work well
 
28. Misleading Indicators
A.   Misleading indicator factors
B.   Using the wrong displays
C.   Using the wrong images
  
29. Metric Management Concerns
A.   Creating a metrics culture
B.   Role of the PMO in metrics management
C.   The need for a KPI training course
D.   Benchmarking KPIs
E.   KPIs and best practices
F.    Creating a KPI library
G.   Establishing KPI owners
H.   Creating a "wall of metrics" for employees and visitors
I.      Adding metrics understanding into job descriptions
J.    Metrics and performance reviews
K.   Metric management traps
L.    Long term benefits of metrics management
 
30. Selecting Software for Metrics Dashboard Management
A.   Determining the benefits of a dashboard
B.   Determining dashboard management costs
C.    Generic rules for dashboard software evaluation
D.    Dashboard software evaluation categories
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