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Sustain Your PMO: Nine Easy Lessons

The Lazy Project Manager

As has been already discussed the reality out there in ‘PMO land’ is that there is not a plethora of wise and experienced PMO managers, directors, leaders, heads, etc., and so it is sensible for anyone who is engaged to help an organisation set up a new PMO or advise on improvements to an existing PMO to reach out for some help. The risk to not doing so is to, at the very least, slow the return on investment of the new PMO down. Is the PMO model the right one?

Starting a PMO

MPUG

PMI describes the Project Management Office (PMO) as a strategic driver for organizational excellence. The PMO seeks to enhance the practices of execution management, organizational governance, and strategic change leadership. Company A might not have a PMO, company B could have a PMO where the project managers (PMs) do not report to the PMO, and Company C could have a mature PMO where the PMs report to the PMO. Beginning a PMO.

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Success in Disruptive Times: PMI’s 2018 Pulse of the Profession

Online PM Courses

The PMI has titled its 2018 Pulse of the Profession report: Success in Disruptive Times. You can download your copy of Success in Disruptive Times from the PMI’s website. The PMI’s Annual Project Management Survey: The Pulse of the Profession. Our regular readers will know that, for the last two years, we have extracted the marrow from the bones of the PMI’s Pulse of the Profession survey. Terrific Insights from the Annual PMI Project Management Review 2016.

2018 83

Project Cost Management – The Essential Things to Know and Do

Online PM Courses

But there’s little your project sponsor, your client, or their Finance Director care about more than your budget and how closely you can stick to it. Instead, you must act with determination to understand project cost management and implement all the tools at your disposal to control costs and bring in your expenditure on budget. What is not negotiable is the budget. The governance considerations for project cost management. Determine Budget.

Action! Four Ways to Build a Customer-Obsessed PMO

Keyedin

Get rolling on a new maturity plotline for your PMO, with four competencies that script a strategic change. Fall movie season is upon us and like your favorite new flick, your PMO might be undergoing a plot-twist as the year wraps up. As you start your budgeting and plan out goals for the year ahead, you might want to take a step back and look at your trajectory from a 1,000 ft. Governance.

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Become an Adaptive PMO: Advance Agility Across Planning and Delivery

Planview

The Project Management Institute (PMI) asked this question for the first time ever for its 2020 Pulse of the Profession ® report, knowing that organizations are rewiring to innovate and deliver competitive products and services quickly. Success requires becoming a more “Adaptive PMO,” evolving how you plan, govern, and empower delivery teams to do their best work. Organizations cannot operate at speed if they are beholden to annual plans and budgets.

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Scope Management Plan: Everything You Need to Know

Online PM Courses

And another common source of failure is an inability to control your scope, leading to scope creep and over-runs in both schedule and budget. This is a schematic version of how the PMI represents it in the 6th Edition of its Project Management Body of Knowledge (PMBoK). Guidance from your PMO (Project/Program/Portfolio Management Office). And what governance will you set over your change control process ? What has Project Governance Ever Done for Us? budget.

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Why the Stage Gate Process will Make You a Better Project Manager

Online PM Courses

It is an important part of project governance that looks both backwards and forwards. The Project Management Institute’s (PMI’s) PMBOK 6th Edition: Phase Gate : A review at the end of a phase in which a decision is made to continue to the next phase, to continue with modificatin, or to end a project or program. Let’s set aside the very important governance imperative. But what if governance were unimportant to you… or your organization?

Project Quality Management: All You Need to Know

Online PM Courses

If you want to build a reputation for delivering high quality products, as well as meeting your budget and deadlines, you need to master Project Quality Management. These may be: External standards imposed upon you by third parties like Governments, regulators or customers in your value chain. Project, program, or portfolio management standards imposed by your PMO (Project, Program, or Portfolio Management Office).

2018 96

10 Places to Get Free Project Management Templates

Girl's Guide to PM

If you are a PMI member, you’ll get access to the resources marked Premium as well, so that’s an added bonus. If you are looking for information on project budgeting, check out my blog over at ProjectManagement.com, The Money Files. The Infrastructure & Projects Authority (IPA) arranges and manages project assurance reviews for the UK governments’ complex and high risk projects. You’ve got responsibility for a project.

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What Makes Organisations Fail to Execute Their Strategy?

Strategy Execution | PMO Perspectives

How do they respond when budgets are changed? In its 2018 Pulse of the Profession report ‘Success in Disruptive Times’ , the PMI showed that organisations classed as Champions [5] used projects to fuel their success, with mature project portfolio management systems, an investment in project management talent and development, and a strong project management culture. Executives should ensure strong governance. This post first appeared on PMO Perspectives Blog.

The Complete Glossary of 614 Project Management Terms

Workamajig

Audit: The process of analyzing a project to ensure that it is being governed as intended. Budget : The sum total of all the money allocated for a project. Budget at Completion (BAC): BAC is the sum total of all budgets established for the work to be performed.

2021 78

Radio Show Transcript - The Man Who Changed My Career - Rob Thomsett - Recorded March 23, 2018

PM That Works

I took that to mean as well as is also contacts to be you know the main data date the mandated budgets the things that just tended not matter whereas you know where we're going to deliver the content. 00:21:06;12 - 00:22:00;25 Rob Thomsett: So what I'm get when you look at what's called the iron triangle which is you know a scope budget and time and you actually start seeing that project in this more broader idea. We don't own any things down our budget on our scope on our people.

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Project Management Questions I Get Asked Most

Online PM Courses

Should I Join the PMI/APM etc and Take their Qualifications? There's more to membership of PMI, APM, IAPM and other than the qualification, of course. The PMI is the Biggest Player, Globally. But, internationally, there is one association that is bigger, better-known, and more valued by employers: the Project Management Institute (PMI). So, should you seek one of the PMI's qualifications? The PMI. What is a PMO?

2018 87

Project Manager vs. Program Manager: A Side-by-Side Comparison

LiquidPlanner

If I dust off my PMI standard, we know that a project is a “temporary endeavor used to create a unique product or service.” Allocate budget. Projects can be funded and initiated faster than most programs primarily since budget , sponsorship and stakeholders are smaller than most programs. In a program, the program manager will also staff a project management office (PMO) to help manage program scope, costs and overall timeline. Define the detailed budget.

2016 94

The #1 Challenge in Project Management (According to the Experts)

MavenLink

The second main factor is that they also select the project with the thought that they can constrict the time and budget and think they understand the full scope and many times are not willing to budge on any of these items. Projects need to be selected based on resource availability and budgets. Setting a strategic plan and budget at the beginning of the year and being unwilling to revisit it is a management practice of the past.

2017 111

Project Prioritization

EasyProjects

Increasingly, companies have full-time project-management offices (PMO) with staff and budgets to pursue project planning, management, and evaluation full time. Is it within budget?) Where the list is long, this is work for the PMO or an ad hoc project-prioritization committee.

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Pulse of the Profession 2018: Success in Disruptive Times by Managing Projects Effectively

Inloox

PMI’s most recent Pulse of the Profession is about how to succeed in a disruptive world, with challenges being, among others, new technologies (like autonomous vehicles), artificial and data intelligence and big data. On the other side are the so-called “Underperformers” – organizations with 60% or fewer projects being completed on time, on budget, meeting business intent, and having low benefits realization maturity. Increased government regulations.

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Cautionary Tale of Resource Capacity Planning: #1 Reason for PSO Project Failure

Keyedin

Why Walmart nearly became the big fish story for a PMO leader. In a recent survey, 94% of Enterprise IT project managers and PMO leaders and 77% of project and PMO managers working in the professional services industry reported that resource assignment capabilities were the number one reason they needed project management automation. As a former PMO leader, I realize the practical need of keeping those executive folks happy.

2019 60

How Project Management provides Competitive Advantage

The Squad Report

We learn from the Pulse of the Profession reports produced by PMI each year that only about 50% of projects are On Time or Within Budget or Within Scope each year. We need to understand how to Empower our People to Deliver Results rather than focusing on project governance. Project Management Project Management Best Practices Purpose Driven PMO

2019 40

How To Make 2018 A Successful Year for Your Projects

Girl's Guide to PM

With the release of the Agile Practice Guide along with the PMBOK® Guide Sixth Edition , we can’t ignore PMI’s direction to incorporate adaptive life cycles such as agile, iterative or incremental life cycles into project and development life cycles. PMI’s Project Management Professional (PMP)® credential will continue to thrive. I think 2018 is going to bring more focus on business success metrics and less about scope, schedule and budget.

2018 255

Project Management Blog Roundup: The Best of 2021

Ganttic

As well as giving access to those interested in PMI® Certification. The blog presents ways to work smarter, not harder in order to complete projects on budget and on time." With topics ranging from staying agile, to project governance, and ways to deal with stakeholders.

2021 116

Strategy Implementation Needs Great Portfolio Management

Strategy Execution | PMO Perspectives

In this article I talk about the latest developments in portfolio management, drawing on my own experience as Head of Portfolio Management for three leading multinationals, as well as the dozens of workshops with top executives and senior government officials that I have facilitated around the world. If portfolio management is to be effective it should always be linked to the two organisation-wide processes of budgeting cycle and enterprise risk management.

Webinar Recap: How Innovation & Portfolio Management Office Underpins Corporate Success

MPUG

Today’s session is eligible for 3/4 of a PMI PDU in the strategic category, and the code to claim that is on the screen now. Is it your PMO, individual project managers, or others? 55% PMO, and 45% individual project managers. Tad: Well good, clearly it is the PMO that is landing much of this, but it’s actually the innovation or strategy groups that start much of this activity. Is this because the PMO’s not adding enough value?

Nuclear Cleanup To Bridge Upgrades: How Top Projects Get It Done

Project Management Hacks

From AT&T To Project Consulting Success: A Profile of Frank Saladis, PMI Fellow Profile. In PMI Fellow Profile: Frank Saladis , you will learn about how this highly successful project manager built his career. Governments, companies and patients around the world want better healthcare services. How Symcor’s PMO Improved Performance and Client Satisfaction. Symcor’s PMO shows that PMO processes and governance can add value!

2016 36

How To Write a Project Charter: Ultimate Guide

Wrike

A project charter is a brief, formal document that outlines a project in its entirety including its objectives, key stakeholders, major milestones, risks, and budget.

2020 47

Is Your Strategic Project at Risk Due to Poor Implementation of Proven Project Management Practices?

Strategy Execution | PMO Perspectives

According to the PMI’s Pulse of the Profession , 52% of projects completed in the last 12 months experienced scope creep. Needless to say that this mistake often results in rework as well as time and budget overruns later down the line. Poor governance : Not having a clear escalation process or a well-established steering committee that is summoned on a regular basis. This post first appeared on PMO Perspectives Blog.

2019 44

Becoming a Project Manager – A Complete Guide for 2018

Paymo App

ability to monitor and control budgets. manage budgets and billings. Perhaps one of the most commonly known project management certifications, the Project Management Professional certification, provided by the Project Management Institute (PMI), sets the standards for project management. The UK government developed PRINCE2, so if you’re planning on working in the UK, you might want to give this certificate a go. PMI’s PMBOK. Create timesheet and budget reports.

2018 87

Complete Collection of Project Management Statistics 2015

Wrike

Organizations that use a methodology: 38% meet budget. VS. Organizations that don’t use a methodology: 31% meet budget. 18% — Delivered within budget. 75% of highly agile organizations met their goals/business intent, 65% finished on time, and 67% finished within budget. Compared to organizations with low agility, where only 56% met their business goals, 40% finished on time, and 45% finished within budget. [6]. Government – Federal.

2015 49

Dr. Harold Kerzner Q&A: How Changes in Project Management Are Supporting Agile and Scrum

The IIL Blog

How can Scrum or Kanban (agile methodologies in general) methods fit the existing PMI ® framework (i.e. Tools such as EVM (Earned Value Management) provide a metric for schedule and budget. How to benchmark business in government monopoly? What if your PMO refuses to adjust its methodology for business needs and only looks at itself first? PMI, PMBOK, and PMP are marks of the Project Management Institute, Inc.

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