PMcrunch

Project Portfolio Management, like Investment Portfolio Management, is a balancing act that requires constant monitoring and adjustment over time.  Whereas an individual may have the right balance of risk, return, income, growth and others represented in an investment portfolio, a project portfolio is similar in many ways.  Risks, returns, resources required, and alignment with overall strategy are just a few of the factors that must be kept in balance over time.

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Talent management is a huge challenge for corporations and organizations of all types and sizes.  I many cases, success at talent management within the organization can be the key differentiating factor between success and failure for the organization.  Likewise, success at project management, program management, and portfolio management also largely hinges on strong talent management.  Part of this challenge lies at the relationship between the organization’s talent management capabilities and those of the projects and programs.

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Successful delegation requires granting both responsibility and authority. These two, combined properly, constitute "empowerment".  However, these two are often not properly executed by the project manager or program leader, and the blame is often placed on the delegate, not on the leader!  We, as project and program leaders, need to look at ourselves in the mirror and ask if we are delegating properly.

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Professional Project Management is becoming more pervasive.  Like "Electrification" occurred during the era of proliferation of electricity, "projectization" is occuring throughout the workforce and organizations.  Most of the emphasis I have seen is on professional project management.  However, most people will not be professional project managers, but rather will be team members, support personnel, subject matter experts, department managers, C-level executives, and the like.  This post explores what is being said about this broader workforce in a projectized world.

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Time off is not just a luxury.  It’s a responsibility of leadership for project managers and program managers. Especially in summer, where schedules tend to be a little lighter, it is easier to take some time off and connect with others who also are taking time off.  Taking time off helps us personally, as well as our families and social relationships, but it is also a big gain for members of our project team, as everyone appreciates an organization that acknowledges and values time outside of work.

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The word ‘agile’ has become popular in software development and project management circles, as the agile method produces quality product speedily in a very flexible and organic way.  Agility, however, describes much more than a method for software development and speaks right to the core of project team formation and development.  The individuals, project team, and team building process itself all need to be agile in today’s demanding environment.

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Many project managers and leaders wonder if there is a better job for them out there.  We are always trying to better ourselves and our situations, but never quite seem to get exactly where we want to be.  Much is written about which industries are best, which skills transfer, the benefits of certification, and much more.  I would argue that introspection, or a look on the inside, is at least as important as a look to the outside, as this is a personal decision driven more by personal factors than by external considerations.

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What is program management?  How does program management differ from project management?  How does program management relate to project portfolio management (PPM)?  As program management is becoming more formalized in its own right, especially with the PMP’s PgMP certification, I thought I would see what is out there on the web to help answer these questions.

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Requirements are a great challenge in project management.  Clarity as to requirements is absolutely necessary in order for a project to succeed.  Most projects succeed or fail at the beginning of the project based upon the quality of the project requirements.  One of the challenges for the Project Manager is to assess and understand the uniqueness of the requirements gathering process for his/her individual project, which includes both Requirements Definition and Requirements Management.

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A CEO said, "I’d hate to lose you—you’re one of the few people around here who actually cares."  While highly dedicated people can be rare.  Deliberate effort to find and retain such people is a worthwhile performance enhancement initiative.  Here are 5 key ideas to implement to have more project team members who care!

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