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Project Management -Strategic Competency, & Trends
 

Project Management -Strategic Competency, & Trends

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Vijay Prasad M.Tech, PMP

Vijay Prasad M.Tech, PMP
Visiting Ukraine in partnership with SoftServe
4 March, 2011

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    Project Management -Strategic Competency, & Trends Project Management -Strategic Competency, & Trends Presentation Transcript

    • Project Management -Strategic Competency, & Trends Vijay Prasad M.Tech, PMP Visiting Ukraine in partnership with SoftServe 4 March, 2011
    • Project Management a Strategic Competence
    • Project Management a The StrategicCompetence
    • Excellence in Journey in Different Entities Stage Stage StageAcademiaBusiness STARTUP &Government EMERGING GROWTH TRANSFORMATIONSocietySelfStage OutcomeStartup & Emerging Differentiation , SustenanceGrowth Expansion, DiversityTransformation Leadership
    • Projects are the catalysts for excellence in all stages Stage Focus Startup & Right Logical Scope, Cost, Emerging Projects & grouping of Quality, and Growth Prioritization interrelated Time for strategic projects to management of Transformation alignment deliver higher a project value Project Portfolio Program Project Management Management Management
    • Business, society, individuals all want to advance Strategic Objectives Develop new products /services Enterprises, Enter new markets Societies, Implement new ERP system individuals have strategic objectives Prepare for SEI/CMM level 5 certification in order to advance Reengineer Order Processing business in business, Process livelihood, in Design, construct new 8 lane highway profession and Design, build 100% Green House personal life Plan and complete PgMP certification
    • Projects are means to achieve strategic objectives Strategic Objectives ProjectsDevelop new products /servicesEnter new marketsImplement new ERP systemPrepare for SEI/CMM level 5certification StrategicReengineer Order Processing business Objectives areProcess achieved through workDesign, construct new 8 lane highway as ProjectsDesign, build 100% Green HousePlan and complete PgMP certification
    • Strategic: Projects drive business performance• 600 executives worldwide surveyed by Economist Information Unit• “What skill is most important in your staff?” – Project execution• “What capability does your organization most need?” – The ability to implement strategic change• Two ways of saying the same thing –- because strategic change is implemented through projects Project Management is the Strategic competence Source: PMI
    • Strategic: Projects steer the global economy • More than 20% of gross global product is spent on fixed capital projects • Add projects in IT, new product and service development, and other knowledge work • 20 million people worldwide work on project teams full-time or part-time Source: PMI
    • The Word Is Out • 50% of project failure traceable to poor (or no) project management: – Bad estimates/deadlines – Scope changes – Poor resource planning • “80% of higher-performing projects use a certified project manager • More innovative organizations extendPricewaterhouseCoopers survey, 2007 project thinking to program and portfolio management Source: PMI 10
    • PMI Membership Growth350,000 -An indication of importance 320,388 July 2010 -of Project Management300,000 • Members in almost 200 countries250,000 • 250+ geographic chapters • 30 communities of practice200,000150,000100,000 50,000 0 1975 1985 1995 2005 11 Source: PMI
    • Value of Project Management
    • A New Understanding of Value•3-year, $2.5M study documented value through 500+ interviews at 65+ organizations worldwide•Successful PM implementations must fit specific organizational culture, market, risk tolerance, etc. Source: PMI
    • Three Kinds of Value• Execution: results, performance, project success, “on time and on budget”• Integration: alignment, communication, breaking down silos, agility• Learning: change management, innovation, new product /service /capability /business processAll three values pay off in high performance Source: PMI
    • Strategic: Projects transform organizations• In addition to better business outcomes, organizations reported indirect value such as: – Improvements in decision making. – Enhancement of communications and collaboration. – Improvements in effective work cultures. – Alignment of practices, terminology and values within the organization. – Overall effectiveness of the organization and its management approach. – Improved transparency, clarity of structure, roles and accountability. Source: PMI
    • It All Adds Up in Value Execution + Integration + Learning Real business value Real organizational value Real strategic value Source: PMI 16
    • Value Of Project Management Value of Project Management Execution Value Integration Value Learning Value GeneralPersonal Enterprise Societal Value Management Value Value Value
    • Value Of Project Management Personal Value Self Confidence Sense of Achievement Higher Motivation
    • Value Of Project Management Enterprise Value Organizational Value Business Value Strategic ValueHelps implement Change Helps overcome obstacles as: Increases Agility Unstable Economy Resource Shortages Soaring Costs Increased Complexities Heightened Competition Technological Changes
    • Value Of Project Management Societal Value Increased Confidence in Public and Private initiatives
    • Value Of Project Management General Management Value Strenghtened functions: Planning Organizing Directing Controlling Problem solving
    • Strategic: Illustration of Personal Competency Wedding Project Fix the Identify Events Identify Identify Project Setup PMO Identify Track Muhurat time Pundits Manager and establish Leaders n&s processes Identify and Identify Event Identify acco Program Select caterers Select Bands estimate guests Halls for guests individual & finalize and music events menus finalize menu Identify Identify A/V Identify Identify Identify Comm Buy jewelry, decorators and vendor and photographer logistics V and needs and clothes, finalize deco finalize tasks and tasks finalize L procure devices gifts,…. Invite guests Formal Closure Programs, Processes, People, Products
    • Trends in Project Management
    • Project Management Continues to Grow Strong and hence becomes more and more Strategic… Tools & Techniques Standards Technology Project VirtualizationSustainability Management Innovation Verticalization Global execution, Diversity
    • Project Management TrendsProject Management becomes specific from :Professional Standards toIndustry specific toCompany specific toUnit specific toProject specific
    • Project Management TrendsBecomes mainstream business processProcess Automation – Framework drivenFrameworks for saleProject Management Network ServicesIntegration with Knowledge Management andChange ManagementGlobal Project Management
    • Project Management TrendsOutsourcingComponents Maturity including PMISAcademia, Business, Government, Society, Selfembrace immenselyEnterprises will be evaluated on ExecutionEnterprise PMO will gain prominence
    • Project Management TrendsArt component decreases while science componentincreasesInnovation and creativity will drive new dimensions
    • About Project Management Institute (PMI)
    • The Project Management Institute (PMI) www.pmi.org• Leading Project Management association - founded by working project managers to share experience and best practices• Not for profit, volunteer-driven• 500, 000 members+ credential holders around 185 countries• Offices in North America, Europe, Singapore, India, China and Australia 30 Source: PMI
    • PMI’s Core PurposeAdvance science and practice of ProjectManagement globally in a consistent wayServe practitioners and organizations with:• Standards that describe good practices• Globally recognized credentials that certifyproject management expertise• Resources for professional development, networking and community Source: PMI 31
    • PMI Standards: Globally Recognized 32 Source: PMI
    • PMI Research• PMI supports the most extensive research program in the profession –More than 350 publications to date –16 projects currently under way Source: PMI 33
    • PMI Family of Credentials • Certified Associate in Project Management (CAPM®) • Scheduling Professional (PMI-SP®) • Risk Management Professional (PMI-RMP®) • Project Management Professional (PMP®) • Program Management Professional (PgMP®) 34Certificate In Agile announced Source: PMI
    • Sustainability• The foundation of corporate social responsibility (CSR) – Ethical and professional responsibilities of project managers – Look at dependencies beyond the “iron triangle” – Foster transparency and accountability – Not just corporations but all organizations… PMI included! Source: PMI 35
    • Project Management Institute Educational Foundation (www.pmief.org) 36 Source: PMI
    • PMI’s Envisioned Goal Worldwide, organizations will embrace, value and utilize project management, and attribute their success to it.Making project management indispensable for business results.® Source: PMI 37
    • This way, we will be moving from rhymeJack and Jill went up the hillTo fetch a pail of waterJack fell down and broke his crownAnd Jill came tumbling after.
    • to theme – with Project ManagementJack could have avoided this awful lumpBy a project approach and using best practicesLike installing a pipe and a big pumpAnd handing Jill the invoices. Adopted from Project Management: A Systems Approach to Planning, Scheduling, and Controlling - 2nd Edition by Dr. Harold Kerzner,
    • Academia BusinessSociety & Self Government
    • Academia Business All entities should embrace more Project Management - The Strategic Competence!Society & Self Government
    • I congratulate SoftServe and localProject Managers in Ukraine forstarting theProject Management Community
    • Thank youMy Contact DetailsVijay Prasadvijayprasad001@gmail.com 43Mobile: +91-98490-06070