Method123

Every organization will have to deal with projects that are under-performing, over budget, behind schedule -- in a word troubled ! We identify 2 very specific things that organizations need to do in response. The first is immediate and the later is a more systematic response to prevent projects in the future from becoming troubled. 1. Deal with Troubled Projects Head On When a project gets in trouble, too often, the first tendency is to extend the deadline and spend more money on it in hopes of getting it finished. This is a bad idea, especially if the situation occurs late in the project's life cycle. Ideally, early on, the PMO leader should develop a basic list of conditions that will trigger an investigation into whether a project is in trouble. Usually, a "consensus" on trouble inevitably will emerge, but it often occurs too late in the process. The primary means of addressing troubled projects are: Re-scope : Assess if there is value that can be derived from the p...

Every organization will have to deal with projects that are under-performing, over budget, behind schedule -- in a word troubled ! We identify 2 very specific things that organizations need to do in response. The first is immediate and the later is a more systematic response to prevent projects in the future from becoming troubled. 1. Deal with Troubled Projects Head On When a project gets in trouble, too often, the first tendency is to extend the deadline and spend more money on it in hopes of getting it finished. This is a bad idea, especially if the situation occurs late in the project's life cycle. Ideally, early on, the PMO leader should develop a basic list of conditions that will trigger an investigation into whether a project is in trouble. Usually, a "consensus" on trouble inevitably will emerge, but it often occurs too late in the process. The primary means of addressing troubled projects are: Re-scope : Assess if there is value that can be derived from the p...

he conducting of a business case analysis is always done by the stakeholders of a project. This is because they will be financially responsible for the success or failure of this business venture. They will also be the ones that have the greatest chance of losing money if the right decision is not made. There is another person in the organization that should also do a business case analysis . This is the project manager. This will allow them to thoroughly understand just what is needed, to gain approval from the stakeholders. The first step in a business case analysis is to understand just what the stakeholders are looking for in a business venture. At the top of all of them is the profitability of the project. This has to include not only how much money the deliverable will make, but also the margin of profit. It would be great if a deliverable could be sold for $1,000 each. It would even be better if it had a value to the customer to the point they are willing to pay this $1,000 fo...

The conducting of a business case analysis is always done by the stakeholders of a project. This is because they will be financially responsible for the success or failure of this business venture. They will also be the ones that have the greatest chance of losing money if the right decision is not made. There is another person in the organization that should also do a business case analysis . This is the project manager. This will allow them to thoroughly understand just what is needed, to gain approval from the stakeholders. The first step in a business case analysis is to understand just what the stakeholders are looking for in a business venture. At the top of all of them is the profitability of the project. This has to include not only how much money the deliverable will make, but also the margin of profit. It would be great if a deliverable could be sold for $1,000 each. It would even be better if it had a value to the customer to the point they are willing to pay this $1,000 f...

Four Responsibilities of Executives on Projects An executive has administrative or supervisory authority in an organization. That authority is used in a number of ways on projects. An executive is typically responsible for the Business Case of a project, which is used to determine whether the project should even be started. Once the project is approved they can impact the success of your project in four key areas. 1. Sponsorship and Funding Every project within a company starts with an idea. It’s hard for that idea to go much further without backing from the right person and some money to make it happen. An executive can provide the sponsorship and funding your project needs to get off the ground. They are responsible for signing off on the project charter, which describes the project, gives you the authority to manage and, most importantly, allocates the necessary funds to keep it alive. 2. Escalations and Resolution The second role an executive plays in your projects is to be the go...

Developing Effective Work Breakdown Structures The Work Breakdown Structure (WBS) is an often misunderstood and underappreciated tool of project management.  I would argue that it is a critical piece of the foundation of any project management methodology.  Many misconceptions exist about what a WBS is, how it is used and why it is such an important part of the project management process. A WBS is a deliverable-oriented , hierarchical grouping of the work to be executed by the project team to accomplish the project objectives and create the required deliverables.  It organizes and defines the total scope of the project . Each descending level represents an increasingly detailed definition of the project work (ie decomposition). No reference to WHO is doing the work No reference to WHEN the work is being done No reference to HOW the work is being done Rules for WBS attributes: Use NOUNS and ADJECTIVES to describe the work No dependencies, durations, resource assignment...

Developing Effective Work Breakdown Structures The Work Breakdown Structure (WBS) is an often misunderstood and underappreciated tool of project management.  I would argue that it is a critical piece of the foundation of any project management methodology.  Many misconceptions exist about what a WBS is, how it is used and why it is such an important part of the project management process. A WBS is a deliverable-oriented , hierarchical grouping of the work to be executed by the project team to accomplish the project objectives and create the required deliverables.  It organizes and defines the total scope of the project . Each descending level represents an increasingly detailed definition of the project work (ie decomposition). No reference to WHO is doing the work No reference to WHEN the work is being done No reference to HOW the work is being done Rules for WBS attributes: Use NOUNS and ADJECTIVES to describe the work No dependencies, durations, resource assignment...