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Project Management -Strategic Competency, & Trends


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

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Project Management -Strategic Competency, & Trends

  1. 1. Project Management -Strategic Competency, & Trends Vijay Prasad M.Tech, PMP Visiting Ukraine in partnership with SoftServe 4 March, 2011
  2. 2. Project Management a Strategic Competence
  3. 3. Project Management a The StrategicCompetence
  4. 4. Excellence in Journey in Different Entities Stage Stage StageAcademiaBusiness STARTUP &Government EMERGING GROWTH TRANSFORMATIONSocietySelfStage OutcomeStartup & Emerging Differentiation , SustenanceGrowth Expansion, DiversityTransformation Leadership
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. 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
  9. 9. 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
  10. 10. 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
  11. 11. 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
  12. 12. Value of Project Management
  13. 13. 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
  14. 14. 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
  15. 15. 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
  16. 16. It All Adds Up in Value Execution + Integration + Learning Real business value Real organizational value Real strategic value Source: PMI 16
  17. 17. Value Of Project Management Value of Project Management Execution Value Integration Value Learning Value GeneralPersonal Enterprise Societal Value Management Value Value Value
  18. 18. Value Of Project Management Personal Value Self Confidence Sense of Achievement Higher Motivation
  19. 19. 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
  20. 20. Value Of Project Management Societal Value Increased Confidence in Public and Private initiatives
  21. 21. Value Of Project Management General Management Value Strenghtened functions: Planning Organizing Directing Controlling Problem solving
  22. 22. 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
  23. 23. Trends in Project Management
  24. 24. 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
  25. 25. Project Management TrendsProject Management becomes specific from :Professional Standards toIndustry specific toCompany specific toUnit specific toProject specific
  26. 26. Project Management TrendsBecomes mainstream business processProcess Automation – Framework drivenFrameworks for saleProject Management Network ServicesIntegration with Knowledge Management andChange ManagementGlobal Project Management
  27. 27. Project Management TrendsOutsourcingComponents Maturity including PMISAcademia, Business, Government, Society, Selfembrace immenselyEnterprises will be evaluated on ExecutionEnterprise PMO will gain prominence
  28. 28. Project Management TrendsArt component decreases while science componentincreasesInnovation and creativity will drive new dimensions
  29. 29. About Project Management Institute (PMI)
  30. 30. The Project Management Institute (PMI)• 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
  31. 31. 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
  32. 32. PMI Standards: Globally Recognized 32 Source: PMI
  33. 33. 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
  34. 34. 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
  35. 35. 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
  36. 36. Project Management Institute Educational Foundation ( 36 Source: PMI
  37. 37. 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
  38. 38. 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.
  39. 39. 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,
  40. 40. Academia BusinessSociety & Self Government
  41. 41. Academia Business All entities should embrace more Project Management - The Strategic Competence!Society & Self Government
  42. 42. I congratulate SoftServe and localProject Managers in Ukraine forstarting theProject Management Community
  43. 43. Thank youMy Contact DetailsVijay 43Mobile: +91-98490-06070