PMcrunch

Using project management templates is a great way to improve project performance rapidly. In addition, implementing proven project management methodologies and processes can also improve performance and deliver better results. Here is a look at a couple of low cost possibilities that project managers can deploy rapidly.

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There is always something going on that we can “take advantage of”. When we are in school, we can take advantage of the opportunity to learn new things in a free thinking environment. When we are on vacation, we can take advantage of the opportunity to sit back, relax and have a good time. When the weekend comes, we can take advantage of the opportunity to get some extra things done around the house, or to see to some friends. Now, we find ourselves in a recession. So, the natural question is, “What can we do to take advantage of the recession?”

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One of the greatest communication tools that a project manager can possess is strong briefing on the project. This can facilitate communications with all stakeholders for any project. It puts a good public relations phase on the project plan.

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Frequently, in our projects, especially those of technical nature, we are confronted with the opportunity to analyze various possible solutions. In this process, it is critically important to understand all aspects of cost related to each alternative. A potential trap is to simply compare price. Oftentimes, price is only one very small aspect of the cost of going with a particular product or service.

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These tough times are different from past recessions in that “visibility is low”. What I mean by that is that it is not just a matter of seeing that sales had declined a certain amount, or that certain costs had reached a certain amount; it is not just that there is a general slimming or pruning of weaker competitors across the board. The problem is that it is very hard to predict with any reasonable level of certainty what is going to happen next and, thus, we find ourselves driving through our challenges “with low visibility”.

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In today’s economy, managers of all kinds are under pressure to right-size their businesses or business units. With the contraction of the economy, sales decreases trigger the need for rethinking, resizing, and reshaping throughout any organization. Projects and programs are no different. Let’s take a look.

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SaaS, an acronym for Software as a Service, continues to evolve in the market today. Any project or program manager involved with software application implementation needs to be very familiar with SaaS. But any project manager on any project where there are systems involved with managing any aspect of the project will also benefit by being familiar with SaaS.

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Project management in one sense can be a pretty dry field. While it can be exciting professionally and emotionally, it also can be relatively mechanical in many ways and to many people. However, as I think about it, most things are actually that way. Most things can get to be ho-hum and humdrum. The difference I find is when we decide to do things with style. We add some class to our actions and become a different kind of project manager. Let me give you my thoughts.

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As project managers, we need to manage the resources and deliverables on our projects. In tough times we are often under pressure to deliver more with fewer resources. The question is “How can we cope with this? Is there a different way than just working harder, that we and our teammates can employ?”

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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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