PMcrunch

As project and program managers we all know that stakeholders are central to the success of any project or program. We know that we must listen to stakeholders and that, in the end, we must satisfy stakeholders in order to have a successful project. We need to gather stakeholder input, listen to stakeholder concerns, and obtain stakeholder feedback throughout our projects. The question in my mind right now is “what can we expect realistically of our stakeholders?”

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Two methods of capital budgeting often used on project and in project portfolio management are internal rate of return(IRR) and net present value(NPV). They are close cousins but take a little bit of a different look at the value of a project. They are both time based and bothrelayed to cash flows over time on a project.

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An important consideration for any business is to think about whether or not its business model is effective. Presumably, any business will have at least a somewhat effective business model because if they did not, they will not be able to stay in business for long. How does the concept of business model impact project management?

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Projects, like anything else, are subject to change. One of these changes is changes in stakeholders. Many times a project will be very viable for a particular stakeholder, but priorities might change with a new stakeholder. This is also especially serious when the stakeholder is actually the sponsor of the project, the number one stakeholder. Let’s look at some key aspects of maintaining project control during these types of changes.

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With the election of Barack Obama as president of the United States and his coming inauguration in January, we are beginning to see what his priorities would be; this is an opportunity to think through what some of the impacts will be in the project management world.

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How we succeed is every bit as important as what we achieve.  Really, what I am saying is that we need to review our definition of project and program success periodically.  Making our mark on our projects and programs does not need to involve compromising with our ideals for making our mark in a positive [...]

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Peter Drucker, who died a couple of years ago, was known for his great writings and teachings about management.  Ironically, I am not so sure he actually managed much himself, at least not from the standpoint of being a hands on manager of a larger organization.  However, his 38 books, his many articles, and his [...]

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The title of this post might seem funny to many given that we seem to be living in a tumultuous present. How could things become more tumultuous? Well that’s just many predict is coming our way for the world of work. How might that impact project management work?

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All professionals – Project Managers, Program Managers, Executives, leaders of all kinds -  worry at times, and some more than others.  Worrying a lot or a little is actually a controllable habit.  Worrying a lot is little more than trading your peace of mind and taking a negative view of the future.  The urge to [...]

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As Project Managers, our propensity to assess and manage risks needs to align with our understanding of the level of leadership required on the project. We need to understand clearly the range and depth of our responsibilities on the project in order to effectively manage risk. Otherwise, our risk management program may be over or under what is really required. Here’s my thinking on why.

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