What Does Project Governance Really Mean?

ProjectManager.com

Projects like anything that involves a lot of people working together need governance. The government runs a nation and project governance in the same fashion runs the project. What Is Project Governance? The Three Pillars of Project Governance.

10 Strategies for Successful Project Execution

ProjectManager.com

Is your organization failing to close the gaps between strategy and project execution? Fortunately, there are strategies ( and tools! ) Let’s review strategies and tools you can use, and learn how they can help you close that gap to promote successful project execution.

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Budget 2020: What Does it Mean for the PM Domain?

Arras People

I’m sure like me, many of you were keeping an eye out for Chancellor Rishi Sunak’s first Budget presented last week, keen to learn what implications it would have for the PM domain going forward as well as coronavirus. The post Budget 2020: What Does it Mean for the PM Domain?

2020 228

What Makes Organisations Fail to Execute Their Strategy?

Strategy Execution | PMO Perspectives

After some tapping on their laptop, they proudly showed me their new corporate webpages, proclaiming their ‘strategy’, ‘vision’ and ‘mission’ statements. [1] All we need to do now is execute that strategy! Strategy is not hard to understand: Where is our chosen market?

2018 Budget Adds New IR35 Twist

Arras People

The biggest news for many project management practitioners in the 2018 Budget delivered by Philip Hammond, was his decision to delay any implementation of the new IR35 regime in the Private Sector until April 2020. As anticipated the chosen path is to pretty much replicate the “successful Public Sector implementation” which the Government has prematurely declare d despite there being insufficient data to back-up this claim.

2018 175

How to “Brexit Proof” Your Project Strategy

Arras People

The event’s title of “ How to ‘Brexit-Proof’ your Project Strategy before December 14th 2018 ” provided a clear picture of the key strategies you should employ in order to best prepare for Brexit. Held at the prestigious IoD (Institute of Directors) the speakers looked at how Project Leaders could apply Agile PMO, risk management, project governance, procurement, and change management to the range of project controls and management challenges Brexit will pose.

Everything You Need to Know About Project Management Governance

ProProfs Project Management

One of the major reasons is the lack of project management governance. . This is precisely where project governance comes to the picture. . Meaning & Definition of Governance. The first of which is to have a solid understanding of what project governance is.

Your Basic Guide to IT Project Governance Framework

Project-Management.pm

IT project governance framework has since been the answer to this equation, but people seemed not to fully grasp its function. This article tackles the importance and significance of IT Project Governance Framework and its impact on the projects in the organization. Project governance is crucial component of every project since the responsibilities that come with it are interconnected with different business cases, as well as the project’s overall success.

Strategy Implementation Needs Great Portfolio Management

Strategy Execution | PMO Perspectives

In recent years, portfolio management has evolved from an administrative process, in which projects are selected and prioritised, to one of the key ways in which organisations can focus on strategy implementation. Aligning most of the projects and programmes to the organisation’s strategies is one of the most important benefits of implementing organisational portfolio management. Portfolio Management Strategy Execution

PMO 61

Vendor Showcase Recap: Triskell Software for Enterprise Governance

MPUG

Please find below a transcription of the audio portion of Rich Murphy’s showcase session, Triskell Software for Enterprise Governance, being provided by MPUG for the convenience of our members. And in 2019, Rich joined Triskell Software, and is VP of Strategy and Corporate Development.

Vendor Showcase Recap: Triskell Software for Enterprise Governance

MPUG

Please find below a transcription of the audio portion of Rich Murphy’s showcase session, Triskell Software for Enterprise Governance, being provided by MPUG for the convenience of our members. And in 2019, Rich joined Triskell Software, and is VP of Strategy and Corporate Development.

Supply Chain Risk Management and Its Mitigation Strategies

Techno-PM

Mitigation strategies are now successfully developed that range from personnel to software assistance. Better Governance It is natural to outsource certain aspects of your supply chain to third parties.

2022 36

Scheduling and Cost Control in a Complex Environment

Strategy Execution | PMO Perspectives

The recent UK Government’s enquiry into the management of major projects was cut short by world events, but the interim report and oral evidence make for interesting reading. [1] And of course, for our projects and our organisations, we don’t have Governments to bail us out.

PMO 56

How to connect business strategy with project management

Moira Alexander

Think of the strategy and PM connection in construction terms, where the step of pouring footings and foundations needs to adequately support all other work that follows and ultimately the final structure -- in this analogy the final structure are the end goals. Suresh Srinivasan, CTO at NYU Langone Medical Center , tells CIO, within the NYU IT department there are two key components that link the business strategy and project management.

2017 136

What You Need to Know About Governance, Risk & Compliance

Wrike

Perhaps you’ve heard of governance, risk, and compliance, also known as GRC, before, but you aren’t sure how important it is to you or your business. What is governance risk and compliance (GRC)? What exactly is governance, risk, and compliance, or GRC for short?

A Real-World Success Story: New Zealand Government Improves Project Delivery

Planview

Meeting the demands of ever-changing priorities within a government can lead to inconsistent processes, departments with limited visibility into what is being worked on, and no ability to monitor investments. New Zealand Government, like many other government agencies, was tasked with overcoming these obstacles to develop and manage project and investment portfolios to grow the economy to deliver greater prosperity, security, and opportunities for all citizens.

Webinar Recap: SIPOC Workshop Facilitation – Part 2: SIPOC Workshop Strategies

MPUG

This second session will cover SIPOC workshop strategies. Session number two, the SIPOC Workshop Strategies. Jeff Bongiovani: And then ultimately describe how to set SIPOC workshop goals and strategies.

2021 52

Connecting Project Benefits to Business Strategy for Success

Herding Cats

The answer is they come from the Strategy of the IT function. Where is the strategy defined? What are the measures of the outcomes connected to each other and connected to the top level strategy to the strategic needs of the firm. Internal Processes - what governance processes will be used to produce these outcomes? Budget - what are you willing to spend to achieve these beneficial outcomes. Strategy is Not the Same as Operational Effectiveness.

2016 43

Why You Should Align Strategy, Financials, and Execution

Planview

Now, let’s get into the first two process areas by examining why it is crucial for your organization to align strategy, financials, and execution. Forward-thinking organizations incorporate business processes for governance and decision-making, particularly regarding which investments should be made during the strategic planning process and ongoing checkpoints. Funding and Budgeting. Process Area 2: Aligning Strategy and Operations.

Project Failure – Why it Happens

Online PM Courses

Misalignment with Organization’s Goals, Objectives, Strategy. – 2 – Governance. Governance is hardly the most sexy of project management disciplines. Good governance is a cornerstone of project success, so poor governance inevitably leads to project failure. Good governance is a cornerstone of #project success, so poor governance inevitably leads to project failure. Lack of Governance Structure.

2018 121

The Commercial Project Manager

Strategy Execution | PMO Perspectives

With only a 8% margin in the original budget, this soon became a loss-making project. Contractor working within UK Government IT support: ‘one of the first things we are taught is to get a signed Variation Order if the client asks us for any work outside of our standard instructions, however small.’. Budget Contract Management Project Management

PMO 40

Product Portfolio Management: What It Is and Why It Matters for Business Leaders

Epicflow Blog

Product portfolio management helps find the most appropriate strategy to gain the desired business objectives as well as evaluate the success of each product or service and make corresponding improvements if necessary.

2022 83

Compendium of Works to Increase Probability of Project Success

Herding Cats

Governance (#Governance). Strategy (#Strategy). Six Business System Rule - defines the assessment of the integrated business systems for Federal procurement and their integrity in providing information to the Government contracting office. . Managing Government Grant Projects at Arizona Public Service - APS management process for Department of Energy grant for algae CO2 capture project. Success starts with a Strategy for the project. Governance.

2019 37

How to Talk About Estimates

Herding Cats

If I'm risking two weeks of work for the Scrum team of 5 people it's a much different need from the risk of a $10B manned spaceflight program being supported to congress for budget authorization. . NoEstimates Agile Earned Value Estimating Governance Government IMP/IMS Management Performance-Based Project Management® Planning Principles Project Management Requirements Risk Root Cause Analysis Scheduling Strategy Technical Performance MeasuresWhat is an estimate?

Collective belief and its possible impact on projects.

Ron Rosenhead

The budget looks a little strained, which will soon be sorted once approval for development is given and then the cash will start to flow. Additional budget -the Company Board approved the extra expenditure. The second prototype is now ready (2 months behind schedule and 20% above the additional budget expenditure). Extra budget is granted and the new timetable shows that this will be delivered in another 3 months. Project governance – many projects are risky.

2016 149

What Is Risk Management and Why Is It Important?

MPUG

Risk management strategies should be tied to organizational goals because of the domino effect on the goals. So, a portion of the budget could be set aside for such incidents to avoid interest from sudden loans. Articles business strategy goals managing Planning Risk Management

2022 63

Rogue Project Sponsor: What to Do when Sponsorship goes Bad

Online PM Courses

So the counter to this is to set and agree clear expectations for progress, budget, and delivery of outcomes right at the start. At its simplest, I’ll set a: Planned, or baseline, set of outcomes, budget, and progress rate. Stretch set of outcomes, budget, and progress rate. The Project director tackled high-level stakeholder engagement on a day-to-day basis and we often worked together on strategy and important decisions. Your Strategy.

2018 134

Are your project management success rates improving?

Ron Rosenhead

For the first time in the last five years of this research, we see that more projects are meeting original goals and being completed within budget.”. Risk management strategies. The best executive sponsors have detailed knowledge of a project and how it connects to business strategy. project management governance governance project management project risks project sponsor

2017 109

What's Missing from the Agile Software Development Paradigm

Herding Cats

Without a clear, concise, measurable description of Done the probability of success for the project arriving on time, on budget with the needed capabilities, is low. Agile Capabilities Decision Making Deliverables Based Planning(r) Estimating Governance Management Performance-Based Project Management® Planning Principles Product Management Project Management Requirements Scheduling Strategy Systems Theory

2009 35

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

Strategy Execution | PMO Perspectives

But taking part responsibility for producing the business case can be a smart move that helps th e project manager to step up and Bridge the Gap Between Strategy and Delivery. Needless to say that this mistake often results in rework as well as time and budget overruns later down the line. Stakeholder analysis : Failure to analyse the stakeholders and determining a stakeholder communication strategy.

Who should attend project management training?

Ron Rosenhead

If and when this training has been completed and there is a budget then let’s take into account people’s personal development needs. They put the course onto their timetable and have been inundated with requests; too many for the budget. If there is no link back to the overall strategy then the project is automatically low priority. By focussing development activity on key projects you can impact the overall strategy in a positive way.

2016 146

How to Build a Robust Project Risk Culture [8 Steps]

Online PM Courses

This will hep you improve your budget and schedule estimates, and therefore reduceover-runs. Your biggest wins will come from better governance, with little or no extra cost and time overhead. Taking an evidence-based approach to planning, strategy-development, and policy-making will lead to more robust decisions, with conscious choices around risk profile. Access resources and budget. Include your rsk culture in your project budget from the start.

Risk 81

The Portfolio Management Dream: How to Stop it from Becoming a Nightmare!

PM That Works

And so for those of my audience that may not fully understand what portfolio management really is, it is managing the entire project inventory for an organization in managing that to strategy as well as cost. So let's explain that most organizations have some sort of capital budget planning process. And we've done a whole series on, you know, making sure that projects aligned to strategy and all those other things. And so I was contracted for for a government agency.

Gate Reviews: What Project Managers Need To Know

Rebel’s Guide to PM

Project governance is an important part of project management processes – even if it’s not the most exciting part of getting work done. Governance is a key part of that, and gate reviews are part of navigating through the project.

2022 306

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. Let’s set aside the very important governance imperative. But what if governance were unimportant to you… or your organization? ’ PRINCE2 and the UK Government refer to Gate 0 – Strategic Assessment. PRINCE2 and the UK Government refer to Gate 1 – Business Justification. PRINCE2 and the UK Government refer to Gate 2 – Delivery Strategy.

2018 66

My first meeting with my project sponsor

Ron Rosenhead

Strategies for Project Sponsorship published by Management Concepts. However this needs to be couched in project management terms; the link with project risks or the budget seems small for the tight timetable or the skills you need are not available. Strategies for Project Sponsorship by Vicki James, Ron Rosenhead and Peter Taylor published by Management Concepts . project sponsorship project project management project management governance project risks

2016 138

What Is a Capital Improvement Plan & How to Create One

ProjectManager.com

That creates a dilemma: how to spend their budget. A capital improvement plan (CIP) is used by organizations to make smart budgeting decisions on which large projects or purchases to pursue. However, the capital improvement plan is aligned with the annual budget.

2022 294

Project Boards and Project Steering Groups: An Introduction

Rebel’s Guide to PM

Here’s an introduction to these important groups as part of the governance framework so you can get yours set up and working on your project. A project board provides oversight and governance for the project. What you need is adequate governance for the project.

2022 281

Which PMO Structure Is Best for Your Company?

Wrike

When your PMO structure matches your organization’s needs and resources, projects are more likely to be delivered on time and within budget. Implementing PMO structure best practices ensures that your organization delivers projects on time and within budget.

PMO 36

How To Implement Lean Portfolio Management?

Agilemania

Lean Portfolio Management (LPM) involves connecting strategy to execution by using lean principles. Budgets are allocated to execute an enterprise’s strategy by portfolio management teams. Review of strategy alignment. Examining the portfolio budget.

Lean 67