Deltek Insight 2012: Best Practices in Project Management

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Join us to identify key success factors in implementing a good project management practice at your company. Do you believe project managers are critical to the overall success of a project? Do you believe that project managers are critical to the financial performance of your company? Do you want to improve your company’s performance in these areas, but are not sure where to start? This session provides insights on the key steps you can take to improve the project management practice in your firm. Intermediate Level.

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Deltek Insight 2012: Best Practices in Project Management

  1. 1. The Business ofProject Management —Wider Visibility, GreaterControl, Deeper InsightBob Stalilonis, Senior Solution Architect, DeltekPS-170
  2. 2. Far too many firms don’t know which projects are not performing. ? Is this a symptom of ? Ineffective Project Management? ! This directly impacts stakeholder value.2 ©2012 Deltek, Inc. All Rights Reserved
  3. 3. Ineffective Management | Outcomes CLIENT EMPLOYEE CLAIMS RETENTION RETENTION PROFIT3 ©2012 Deltek, Inc. All Rights Reserved
  4. 4. Ineffective Management | Costs CLAIMS Staff Availability Reputation • Missed expectations CLIENT EMPLOYEE CLAIMS • Poor guidance to the client Morale • Poor communications RETENTION RETENTION • Poor quality deliverables Average Claim Revenue 3%-5% of Revenue4 ©2012 Deltek, Inc. All Rights Reserved
  5. 5. Ineffective Management | Costs CLIENT RETENTION • Unpleasant project New = $60,000 CLIENT experience EMPLOYEE $5M CLAIMS • Missed expectations RETENTION • Poor communications RETENTION • Poor leadership 6X = $500,000 At a Old = $10,000 10% Additional revenue margin needed to offset New Client Cost to Win Work business development costs Revenue5 ©2012 Deltek, Inc. All Rights Reserved
  6. 6. Ineffective Management | Costs $7M EMPLOYEE RETENTION • Unclear responsibilities CLIENT EMPLOYEE • Lack of authority & CLAIMS 14% Turnover empowerment RETENTION 7 Healthy, 7 Not • RETENTION Bad working environment • Poor leadership $100,000 $700,000 Unnecessary Expense Cost of New Hire At a 10% Revenue margin6 ©2012 Deltek, Inc. All Rights Reserved
  7. 7. Ineffective Management | Outcomes CLAIMS CLIENT RETENTION EMPLOYEE RETENTION • Missed expectations • Unclear responsibilities • Missed expectations CLIENT • Poor quality deliverables EMPLOYEE • Lack of empowerment, CLAIMS • Poor quality deliverables • Not meeting obligations authority • Poor guidance to the client RETENTION • Poor client experience RETENTION • Poor execution of work • Poor communications (vendor seen as challenging) • Bad work environment PROFIT7 ©2012 Deltek, Inc. All Rights Reserved
  8. 8. Project Management | On Par? Your Operations Your Clients • Is the Project Management • How would my clients rate their approach well-defined across satisfaction with the my organization? management of their projects? • Are Project KPIs clear? • How many clients don’t return? • Do we know which projects are performing poorly? Ask Your Work Yourself Your People • Is our delivery approach • Is there a clearly defined role consistent across the practice? description specifically for • Do our teams collaborate Project Managers? effectively? • Do people in my organization want to be PMs?8 ©2012 Deltek, Inc. All Rights Reserved
  9. 9. Project Management Discussion Topics9 ©2012 Deltek, Inc. All Rights Reserved
  10. 10. Project Management Discussion Topics10 ©2012 Deltek, Inc. All Rights Reserved
  11. 11. Project Management | Structure • Collaborative member of a Well-Defined Project Leadership team Leadership Project Manager • Goal: A satisfied client & successful project • Creates & maintains an atmosphere of trust- through leadership & Conflict Negotiation teamwork with internal & Resolution external team members • Facilitates collaborative input of all Project Leaders in establishing the design & Communications Skills delivery approach Speak Write Present • Develops & maintains a plan for achieving goals11 ©2012 Deltek, Inc. All Rights Reserved
  12. 12. Project Management | What Is It? Client Consultant • Listens • Clearly defined scope • Clarifies • Good contract • Sets expectations • Communicates • Communicates regularly regularly • Advocate for • Addresses concerns A Good consultant timely Experience!12 ©2012 Deltek, Inc. All Rights Reserved
  13. 13. Project Management Discussion Topics13 ©2012 Deltek, Inc. All Rights Reserved
  14. 14. Project Management | Why Do It? Your Organization Your Clients • Better Contracts • Timely Delivery • Higher Fees • Meeting Expectations • Higher Profits • Leadership • “Trusted Advisor” status • Fewer Claims The Your Work Benefits Your People • Better Project Plans • Confident Career-Path Planning • Plan for contract obligations • Well-defined role guides young staff • Consistent Execution & Delivery • Staff Development • Deliver on contract obligations • PMs teach by example • PM resources & training material • Assistance on contract-management14 ©2012 Deltek, Inc. All Rights Reserved
  15. 15. Project Management Discussion Topics15 ©2012 Deltek, Inc. All Rights Reserved
  16. 16. Project Management | Achieving VISIBILITY CONTROL INSIGHT • To develop effective, • To manage risk & • Understand project accurate plans control outcomes finances • Key for effective • Adjust plans • Understand factors planning • Facilitate among all impacting project: • Access to past work involved parties • Project Delivery & results • Keys to facilitating: Methods • View of current • Monitor across the • Technology workload organization • BIM • To see upcoming • By multiple views (by • Key to understanding work resource type, • Quickly answer your project type, client, own questions etc.)16 ©2012 Deltek, Inc. All Rights Reserved
  17. 17. Project Management | Visibility VISIBILITY ©2012 Deltek, Inc. All Rights Reserved17
  18. 18. Project Management | Control CONTROL18 ©2012 Deltek, Inc. All Rights Reserved
  19. 19. Project Management | Insight INSIGHT19 ©2012 Deltek, Inc. All Rights Reserved
  20. 20. Project Management | Achieving• Assess current state of • Train • Centralize support for Project Management • Develop training change curriculum • Local support for change• Enlist support of senior • Create training manual (if multiple locations) management • Support • On-going training• Establish processes, procedures, policies • Technology • Periodic performance • Tools assessment• Change Management • Before new initiatives • Implement • Feedback loop • Develop “message” about change 3 2 120 ©2012 Deltek, Inc. All Rights Reserved
  21. 21. Next Steps | An Action Plan 1 Assess your firm’s project management 2 Identify gaps Engage with 3 Bob Stalilonis for consultation21 ©2012 Deltek, Inc. All Rights Reserved

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