How to Think Like a Project Manager

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How to Think Like a Project Manager

  1. 1. How to “Think Like a Project Manager” JULY 11, 2013 | VERSION 1.0 | TE WU This presentation is used during an oral presentation and discussion. Without the accompanying oral comments, the text is incomplete as a record of the presentation.
  2. 2. Agenda PROPRIETARY AND CONFIDENTIAL 2 Self Introduction Questions and Answers Current State of Project How to Think Like a Project Manager
  3. 3. 1. Self Introduction 3PROPRIETARY AND CONFIDENTIAL
  4. 4. Te Wu’s Biography 4PROPRIETARY AND CONFIDENTIAL
  5. 5. 2. Current State of Project PROPRIETARY AND CONFIDENTIAL 5
  6. 6. What is a project? According to Project Management Institute (PMI) a project is: “a temporary endeavor undertaken to create a unique product, service, or result.” PROPRIETARY AND CONFIDENTIAL Project– Temporary because there is a start and end date – Unique because it is a one-time endeavor 6
  7. 7. Why are projects important? Trends PROPRIETARY AND CONFIDENTIAL Prior to the 1980s main business focus was planning & operations, with some projects for incremental enhancements. Since the late ‘80s, accelerated in the ‘90s and the new millennium are two unstoppable trends: o Globalization – present for the past 200 years but far more intense in the last 30 years, especially with the rise of the emerging economies such as China, India, Brazil, Indonesia, etc. o Technology – the general productivity growth was moderate in the ‘80s but accelerated in the ‘90s. Today, technology is often a game changer (e.g. Facebook, Amazon) 0.0 2.0 4.0 6.0 8.0 RelativeIntensity Organization Focus Planning Operating Changing 7
  8. 8. Why are projects important? Trends PROPRIETARY AND CONFIDENTIAL The rapid rise of project management as a profession is self evident. Today the PMI entails: an annual increase > 10% 380,000+ Certified PMPs 600,000 Members strong 6 certifications, including PMP and PgMP 8
  9. 9. The most commonly cited framework is the Theory of Triple Constraint which presents three constraints that bind the project. Why are projects challenging? Constraints PROPRIETARY AND CONFIDENTIAL 9 Scope / Quality Schedule / Time Resource / Cost Projects are challenging for numerous reasons.
  10. 10. Why are projects challenging? Constraints But, in reality there are many more dimensions PROPRIETARY AND CONFIDENTIAL 10 Process Strategic alignment Risk Governance Relationship how people work with each other how decisions are made how mature is the project organization how well is the project aligned with business objectives unpredictability that inevitably arises in larger projects Cross Cultural Increasingly, projects involve teams across cultures
  11. 11. PROPRIETARY AND CONFIDENTIAL State of IT Implementation As IT projects are one of the most widely studied, we have some meaningful quantitative numbers for examination. Source: http://www.cio.com/article/495306/Recession_Causes_Rising_IT_Project_Failure_Rates_ Success rate was 25% a decade ago – little improvement of IT projects are considered successful.32% 44% were considered to be challenged 25% were considered failures 11
  12. 12. State of IT Implementation Taxonomy of IT Project Failure PROPRIETARY AND CONFIDENTIAL Reference: Al-Ahmad, W., Al-Fagih, K., Khanfar, K., Alsamara, K., Abuleil, S., and Abu-Salem, H. A taxonomy of an IT project Failure: Root causes, 2009, 5 [1], pgs. 93-106. 12
  13. 13. Project Management Basics Project management is the application of knowledge, skills, and techniques to execute project effectively and efficiently. According to the Project Management Institute, there are Combined with techniques, collectively these provide a strong basis for the practice of project management. PROPRIETARY AND CONFIDENTIAL 13 10 knowledge areas 5 process groups
  14. 14. Project Management Basics To be a professional project manager, a deep understanding of these is essential - but insufficient PROPRIETARY AND CONFIDENTIAL 14 10knowle dge areas 5 process groups • Initiating • Planning • Executing • Monitoring and Controlling • Closing • Integration • Scope • Time • Cost • Quality • Procurement • Human Resources • Communications • Risk Management • Stakeholder Mgmt
  15. 15. One must “feel” and “think” like a project manager
  16. 16. 2. How to Think like a Project Manager PROPRIETARY AND CONFIDENTIAL 16
  17. 17. How to think like a project manager? o Project management is a young & growing discipline o Its application is heavily dependent on its context and the project complexity o Aside from the technical skills of project management such as creating a detailed schedule and the soft skills such as communication, it is important to have the right mindset! PROPRIETARY AND CONFIDENTIAL 17
  18. 18. Think Balance Think Teamwork Think Realistically Think Holistically Think Global Think Incentives How to think like a project manager? PM 18PROPRIETARY AND CONFIDENTIAL
  19. 19. How to think like a project manager? • Must mentally balance optimism, skepticism, and occasional cynicism • Must be able to balance analysis with action • to avoid analysis paralysis on one hand but tendency of “fire, aim, and ready” • Always think in terms of trade-offs (there is no free lunch) PROPRIETARY AND CONFIDENTIAL 19 Think balance
  20. 20. How to think like a project manager? • Be culturally sensitive • Be respectful • Maintain an open mind • Embrace diversity - Diversity of people & culture - Diversity of ideas • Must genuinely appreciate differences PROPRIETARY AND CONFIDENTIAL Think global 20
  21. 21. How to think like a project manager? • Must have ownership and take charge attitude – to set an example for others • Must be willing to challenge others. Yet, must be able to yield to expertise • Must communicate, communicate, communicate 21PROPRIETARY AND CONFIDENTIAL Think teamwork
  22. 22. How to think like a project manager? (and thus require courage) • Must be fiercely realistic, at least to oneself • Need to be practical when dealing with people – sometimes play a “bad cop”, but should balance that out with being a “good cop” 22PROPRIETARY AND CONFIDENTIAL Think realistically
  23. 23. How to think like a project manager? • We are all driven by incentives, whether they are tangible or intangible - Tangible: compensation, promotion - Intangible: recognition, respect from peers, sense of well being • Design metrics carefully, to reinforce the right incentives 23PROPRIETARY AND CONFIDENTIAL Think Incentives
  24. 24. How to think like a project manager? • Must not lose the strategic perspective of the bigger goals of the project • A project is often greater than a set of deliverables. It may have interdependencies with other areas. 24PROPRIETARY AND CONFIDENTIAL Think holistically
  25. 25. Takeaways Project management is progressing rapidly PROPRIETARY AND CONFIDENTIAL 25 Knowledge is expanding Processes are improving Tools are becoming more sophisticated
  26. 26. Takeaways But there is more… To be a true project manager, one must think like one. This presentation presents six dimensions: PROPRIETARY AND CONFIDENTIAL 26 Think balance Think global Think teamwork Think realistically Think incentives Think holistic
  27. 27. 4. Questions and Answers PROPRIETARY AND CONFIDENTIAL 27
  28. 28. Contact Information Please complete a quick survey at: https://www.surveymonkey.com/s/Post01 Thank you! Name: Te Wu Company: PMO Advisory LLC Email: wu@pmoadvisory.com Phone: 973-860-0758 LinkedIn: www.linkedin.com/in/tewu1/ Twitter: https://twitter.com/pmoadvisory Blog: http://blog.pmoadvisory.com PROPRIETARY AND CONFIDENTIAL 28

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