Project Management - Beyond the Finish Line


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Presented at the 2008 NJPMI Symposium. Benefits Realization Management.

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  • Project Management - Beyond the Finish Line

    1. 1. Phone : (201) 799-4941 Email: [email_address] Project Management – Beyond the Finish Line Presented by Denny Panakal – PMP DATA Inc.
    2. 2. <ul><li>Scenario 1 – The conventional PM </li></ul><ul><ul><li>Process Driven PM’s </li></ul></ul><ul><ul><ul><li>Some PM’s stick to the process </li></ul></ul></ul><ul><ul><li>‘ Get in – Get out’ </li></ul></ul><ul><ul><ul><li>Process driven – whether PMBOK, ITIL or otherwise </li></ul></ul></ul><ul><ul><ul><li>Focused more on ‘measurable’ deliverables as per project plan. </li></ul></ul></ul>The Challenge <ul><ul><li>Suffer from the following symptoms? </li></ul></ul>1 of 22
    3. 3. <ul><li>Possible loss of revenue </li></ul><ul><li>Possible loss of avenues for project expansion </li></ul><ul><li>Abrupt ending of project </li></ul><ul><li>Reduction of ‘true’ business potential </li></ul><ul><li>Loss of opportunity </li></ul>As a result <ul><ul><li>Fallout from projects </li></ul></ul>2 of 22
    4. 4. <ul><li>Why does this happen? </li></ul><ul><li>Potential growth is sidelined </li></ul><ul><li>How can a PM ensure success and opportunity ‘beyond the project’ for the organization? </li></ul>A Catalyst for Change <ul><ul><li>Can a PM be positioned as a catalyst for change? </li></ul></ul>3 of 22
    5. 5. <ul><li>Scenario 2 – PM Proponent </li></ul><ul><ul><li>PM’s cooperate with resources inside and outside of IT </li></ul></ul><ul><ul><li>Brings a level of ‘customer service’ </li></ul></ul><ul><ul><li>Works with key personnel to facilitate ‘opportunity’ and collect business intelligence </li></ul></ul>Beyond PM Execution <ul><ul><li>PM’s need to look beyond the ‘process’ </li></ul></ul>4 of 22
    6. 6. <ul><li>Scenario 2 – PM Proponent </li></ul><ul><ul><li>‘ Champions’ the project </li></ul></ul><ul><ul><ul><li>Passionate about promoting the project as a catalyst for change </li></ul></ul></ul><ul><ul><li>Plans ‘post project’ activities </li></ul></ul><ul><ul><ul><li>Looking beyond the goals of the project – to change the way we think </li></ul></ul></ul><ul><ul><ul><li>Innovation / Creativity </li></ul></ul></ul>Beyond PM Execution <ul><ul><li>PM’s need to look beyond the ‘process’ </li></ul></ul>5 of 22
    7. 7. Beyond PM Execution Can a PM truly look beyond ‘process’ to help an organization realize business and opportunity? 6 of 22
    8. 8. <ul><li>Carrying out demonstrations and presentations </li></ul><ul><ul><li>Bringing out value-added technical knowledge </li></ul></ul><ul><li>Delivering workshops and training </li></ul><ul><ul><li>Being a mentor </li></ul></ul><ul><li>Preparing marketing materials </li></ul><ul><ul><li>Working to develop case studies / white papers to innovate </li></ul></ul><ul><ul><li>Showcasing the ‘success’ of a project to help facilitate change </li></ul></ul><ul><li>Organizing product/service launches </li></ul><ul><ul><li>Helping to mitigate risk – conveying the right ‘knowledge’ for success </li></ul></ul>Business Realization <ul><ul><li>How PM’s can facilitate change? </li></ul></ul>7 of 22
    9. 9. <ul><li>Arranging and chairing stakeholder meetings </li></ul><ul><ul><li>Helping to facilitate better ‘communications’ </li></ul></ul><ul><ul><li>Build the ‘right’ expectations </li></ul></ul><ul><li>Finding creative solutions to problems </li></ul><ul><ul><li>“ Every problem has a solution” </li></ul></ul><ul><ul><li>Can a problem and a solution be turned into an opportunity? </li></ul></ul><ul><li>Championing the cause </li></ul><ul><ul><li>Bringing the passion, power and knowledge to move things forward beyond project execution </li></ul></ul>Business Realization <ul><ul><li>How PM’s can facilitate change? </li></ul></ul>8 of 22
    10. 10. <ul><li>A method to ensure that projects and programs deliver what they promise — providing focus, demonstrating value-for-money, reducing the risk of failure and maximizing benefits achieved. </li></ul>Beyond Traditional Project Mgmt. <ul><ul><li>Benefits Realization Management </li></ul></ul>9 of 22
    11. 11. <ul><li>BRM includes three distinct but tightly related phases: </li></ul><ul><ul><li>Portfolio prioritization </li></ul></ul><ul><ul><ul><li>Project is assessed in terms of its attractiveness, achievability and affordability </li></ul></ul></ul><ul><ul><li>Active benefits management </li></ul></ul><ul><ul><ul><li>Periodic measurement of effectiveness and efficiency </li></ul></ul></ul><ul><ul><li>Performance management </li></ul></ul><ul><ul><ul><li>Measuring whether the benefits envisaged at the start are realized at the end </li></ul></ul></ul><ul><li>Phases rely on governance structure involving relevant stakeholders. </li></ul>Benefits Realization <ul><ul><li>Components of the benefits realization process </li></ul></ul>10 of 22
    12. 12. Benefits Realization 11 of 22
    13. 13. Benefits Realization <ul><ul><li>BRM as it coexists with PMBOK </li></ul></ul>12 of 22
    14. 14. Benefits Realization <ul><ul><li>BRM implementation– A phased approach </li></ul></ul>13 of 22
    15. 15. <ul><li>PMI Standard of Portfolio Management provides a guideline for overall portfolio assessment and management. Benefits are monitored and assessed. </li></ul><ul><li>BRM is the management process </li></ul><ul><ul><li>There are 3 major BRM models available to define and measure the benefits realized in a project </li></ul></ul><ul><ul><li>During this session, we are looking at the salient features of all these models which define the BRM space </li></ul></ul>BRM vs PMI Portfolio Mgmt standard 14 of 22
    16. 16. <ul><li>An organization lacked the proper tools to run training of it’s employees </li></ul><ul><li>Project was initiated to supply learning management system </li></ul><ul><li>PMO decided that modernization was needed to streamline the process of information analysis </li></ul><ul><ul><li>Could ‘extension or ancillary applications’ hold the key? </li></ul></ul><ul><ul><li>How process automation will impact other applications? </li></ul></ul><ul><ul><li>Challenges of paradigm shift of how business is conducted </li></ul></ul><ul><ul><li>What will be ROI if product is not fully functional </li></ul></ul>Case Study <ul><ul><li>How can this work in the real world? </li></ul></ul>15 of 22
    17. 17. <ul><li>Define: </li></ul><ul><ul><li>Benefits were defined at the strategic or objective level </li></ul></ul><ul><li>Develop: </li></ul><ul><ul><li>Mechanism to validate the benefits during investment analysis for program and project funding </li></ul></ul><ul><li>Deliver: </li></ul><ul><ul><li>Phased implementation approach. </li></ul></ul><ul><ul><li>Check the delivery of early benefits once the programs and projects are defined and have begun execution to validate the long term goals </li></ul></ul>Case Study <ul><ul><li>BRM approach used </li></ul></ul>16 of 22
    18. 18. <ul><li>Benefits realization check: </li></ul><ul><ul><li>Measure product or service performance to validate early results and assure the strategic goals are met </li></ul></ul><ul><li>Refinement: </li></ul><ul><ul><li>Evolve the product design to cater to the agile demands of business </li></ul></ul><ul><ul><li>Evaluate how other departments can leverage the potential of this product to meet their needs </li></ul></ul><ul><li>Role of PM </li></ul><ul><ul><li>Acted as proponent of change </li></ul></ul><ul><ul><li>Devised ways for staff to participate in the automated process </li></ul></ul><ul><ul><li>Positively project the benefit for the entire organization </li></ul></ul>Case Study <ul><ul><li>BRM approach used (continued) </li></ul></ul>17 of 22
    19. 19. <ul><li>End Result </li></ul><ul><ul><li>An enterprise product which catered to the needs of cross department needs </li></ul></ul><ul><ul><li>Training Department </li></ul></ul><ul><ul><ul><li>Process automation of Learning management </li></ul></ul></ul><ul><ul><ul><li>Training materials shipment mechanism </li></ul></ul></ul><ul><ul><ul><li>Event Management </li></ul></ul></ul><ul><ul><li>HR </li></ul></ul><ul><ul><ul><li>Automate employee perf. review , benefit management </li></ul></ul></ul><ul><ul><ul><li>New employee On-boarding process </li></ul></ul></ul><ul><ul><li>Sales </li></ul></ul><ul><ul><ul><li>Shipment of new sales material </li></ul></ul></ul><ul><ul><ul><li>Automate Sales data capture </li></ul></ul></ul>Case Study <ul><ul><li>BRM approach used (continued) </li></ul></ul>18 of 22
    20. 20. Case Study Lets discuss! Where are the benefits? 19 of 22
    21. 21. <ul><li>Robust business cases to leverage adequate budgets </li></ul><ul><li>Alignment of projects with business </li></ul><ul><li>Value-for-money criteria for supplier/product selection </li></ul><ul><li>Project effort invested in activities that will deliver results </li></ul>So why should you adapt BRM? <ul><ul><li>Benefits of BRM </li></ul></ul>20 of 22
    22. 22. <ul><li>Business-driven performance criteria </li></ul><ul><li>Reduction in the risk of poor ‘adoption’ and project failure </li></ul><ul><li>Maximum achievement of promised business benefits </li></ul>So why should you adapt BRM? <ul><ul><li>Benefits of BRM </li></ul></ul>21 of 22
    23. 23. <ul><li>Creates Leadership </li></ul><ul><li>Facilitates Ownership </li></ul><ul><li>Faster ROI </li></ul><ul><li>Better Communications and Relationships </li></ul><ul><li>Project Sustainability and Exponential Growth </li></ul>So why should you adapt BRM? <ul><ul><li>Additional Benefits of BRM </li></ul></ul>22 of 22
    24. 24. Project success goes beyond implementation Thank you!