Breakfast Talk - Manage Projects

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Breakfast Talk - Manage Projects

  1. 1. Welcome to Manage Projects Breakfast Talk By Anthony Mok 30 September 2011
  2. 2. Manage Project <ul><li>Coverage </li></ul><ul><li>Importance of Managing Project well </li></ul><ul><li>Global Trends Impacting Project Management </li></ul><ul><li>Characteristics of Modern Project Management </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  3. 3. Project? Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  4. 4. Manage Project What is a Project? A project is a complex, non-routine, one-time effort limited by time, budget, resources, and performance specifications designed to meet customer needs. Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  5. 5. Examples Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  6. 6. Manage Project Examples of Projects Mattel Project : Cut Design Time Project: Move product design and licensing on line Payoff : Instead of molding prototypes (e.g., Hot Wheels or Barbie doll), virtual models are electronically sent directly to manufacturing sites Approvals for new products have been reduced from 14 to 5 weeks Revenue is expected to increase by 200 million Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  7. 7. Manage Project Examples of Projects Nike Project : Online supply-chain link to manufacturing partners Payoff : Lead time for new shoe development has been reduced from nine months to six Better forecasting has reduced speculation on what to produce from 30 percent to 3 percent These efficiencies have upped Nike’s gross margin 2.1 percent Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  8. 8. Characteristics Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  9. 9. Manage Project Characteristics of a Project <ul><li>An established objective </li></ul><ul><li>A defined life span with a beginning and an end </li></ul><ul><li>Usually, the involvement of several departments and professionals </li></ul><ul><li>Typically, doing something that has never been done before </li></ul><ul><li>Specific time, cost, and performance requirements </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  10. 10. Failures Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  11. 11. Manage Project Bent Flyvbjerg Said Business School Oxford University Alexander Budzier, Consultant McKinsey & Co Mismanaged projects have sunk companies, CEOs, countries - and they happen more often than we think http://hbr.org/2011/09/why-your-it-project-may-be-riskier-than-you-think/ar Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  12. 12. Manage Project Mismanaged projects have sunk companies, CEOs, countries - and they happen more often than we think <ul><li>Largest global study of IT change initiatives </li></ul><ul><li>  </li></ul><ul><li>1,471 projects </li></ul><ul><li>  </li></ul><ul><li>Enterprise resource planning system </li></ul><ul><li>Management information systems </li></ul><ul><li>Customer relationship management systems </li></ul>Budgets & Estimated Performance Benefits Actual Costs & Results Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  13. 13. Manage Project Mismanaged projects have sunk companies, CEOs, countries - and they happen more often than we think <ul><li>Average overrun = 27% </li></ul><ul><li>  </li></ul><ul><li>1 in 6 </li></ul><ul><li>  </li></ul><ul><li>Cost Overrun @ 200% </li></ul><ul><li>  </li></ul><ul><li>Schedule Overrun @ 70% </li></ul>Budgets & Estimated Performance Benefits Actual Costs & Results Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  14. 14. Manage Project Mismanaged projects have sunk companies, CEOs, countries - and they happen more often than we think <ul><li>Hershey </li></ul><ul><li>Shifted to a New Order-taking & Fulfilment System </li></ul><ul><li>Prevented </li></ul><ul><li>Shipment of US$100 million worth of candy for Halloween </li></ul><ul><li>18.6 % drop in quarterly earnings </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  15. 15. Manage Project Mismanaged projects have sunk companies, CEOs, countries - and they happen more often than we think <ul><li>Kmart </li></ul><ul><li>2000 </li></ul><ul><li>Began a US$1.4 billion IT modernisation project </li></ul><ul><li>  </li></ul><ul><li>2001 </li></ul><ul><li>New system was so highly customised that maintenance was prohibitively </li></ul><ul><li>Launched a US$600 million project to update </li></ul><ul><li>Supply chain management software </li></ul><ul><li>  </li></ul><ul><li>2002 </li></ul><ul><li>Project derailed </li></ul><ul><li>Kmart filed for bankruptcy </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  16. 16. Global Trends http://highered.mcgraw-hill.com/sites/dl/free/0073525154/504266/gra25154_ch01_002_019.pdf Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  17. 17. Manage Project Importance of Project Management Compression of Product Life Cycle 30 years ago - Life cycles = 10 to 15 years Today (high-tech industries) - Life cycle = 1 to 3 years 6-month project delay = 33% loss in product revenue SPEED! SPEED! SPEED! Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  18. 18. Manage Project Importance of Project Management Globalisation Better products and services Cheaper products and services Transform how the business organises itself Competition! Competition! Competition! Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  19. 19. Manage Project Knowledge Explosion & Regulations Building a road 30 years ago = simple process Now = Materials, specifications, codes, aesthetics, equipment Required specialists Complexity! Complexity! Complexity! Importance of Project Management Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  20. 20. Skills & Efforts Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  21. 21. Manage Project Varied Skills and Efforts through Project Life-cycle Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  22. 22. Manage Project Project Management is Both Science and Art Technical Dimensions = ‘science’ of project management Socio-cultural Dimension = ‘art’ of managing a project Project Management = Managing Change Organisation does not change, People do, and people change one person at a time work breakdown structure (WBS) Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  23. 23. Manage Project Social-cultural Aspects of Managing Project <ul><li>Leadership </li></ul><ul><li>Problem solving </li></ul><ul><li>Teamwork </li></ul><ul><li>Negotiation </li></ul><ul><li>Politics </li></ul><ul><li>Customer expectations </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  24. 24. Project Management 2.0 Dr. Kifah Jayyousi Project Management Wiki! Everything, Everywhere and Everybody’s Project Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  25. 25. Manage Project Traditional View of Managing Projects Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  26. 26. Manage Project Developments in Project Management Emergence of Web 2.0 Technologies   blogs, wikis,  collaborative software   Enable Small Distributed & Virtual Teams Working Together Supported by Low or No-cost Web-based Project Management Tools Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  27. 27. Manage Project Project Management 2.0 Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  28. 28. Manage Project <ul><li>Coverage </li></ul><ul><li>Importance of Managing Project well </li></ul><ul><li>Global Trends Impacting Project Management </li></ul><ul><li>Characteristics of Modern Project Management </li></ul>Best Practices through Collaboration . Promoting Human Capital Excellence . Human Capital First . Changing HR Mindsets. Provide Thought Leadership . Advancing Human Capital Management.
  29. 29. Welcome to Manage Projects Breakfast Talk By Anthony Mok 30 September 2011

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