The Need for an Innovative PMO

MPUG

Without a constant flow of innovation, no company can expect to prosper – or perhaps, even survive. Traditionally, the department managing the flow of projects, including innovation initiatives, is the Project or Portfolio Management Office (the PMO). Other recent surveys suggest that 90% of large enterprises , 88% of midsize companies, and 61% of small companies now have a PMO, too. There is an opportunity to create an Innovation Project Management Office (IPMO).

What Is Cloud Storage, and How Are Innovative Companies Using It?

ProjectManager.com

Where it once implied daydreaming, now it is the realm of innovative businesses and forward-thinking leaders. While cloud storage has become a given for both personal and business use, before exploring how organizations are using the technology in innovative ways, it’s important to take an unbiased look at the service. Some of the disadvantages include the risk to security and the potential of unauthorized access to data. Companies that Innovate with Cloud Storage.

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

MPUG

Please find below a transcription of the audio portion of Tad Haas’ How Innovation & Portfolio Management Office Underpins Corporate Success webinar being provided by MPUG for the convenience of our members. Kyle: Hello everyone, and welcome to today’s MPUG webinar, How Innovation & Portfolio Management Office Underpins Corporate Success. Tad: The conversation today is built off a white paper called Innovation and Portfolio Management Office.

Top Tips for Reducing Risks as a Construction Project Manager

Wrike

Every project brings a whole lot of risk and uncertainty with it — particularly in the construction industry. So, let’s dig into the key responsibilities of this role, what typical project risks they’ll need to mitigate, and how they can successfully navigate around those common roadblocks. . What common risks are associated with project delivery in construction? Every project has its risks, but they can seem particularly intimidating for construction projects.

Microeconomics and Risk Management in Decision Making for Software Development

Herding Cats

A recent survey of 600 firms indicated that 35% of them had at least one "runaway' software project. Research clearly shows the root causes of most software projects cost and schedule overruns and technical shortfalls comes from poor risk management. Most post-mortems of these software disaster projects have shown that their problems would have been avoided or strongly reduced if there had been an explicit early concern with identifying and resolving their high-risk elements.

2007 32

How to Make Cyber Risk Management an Integral Part of Your Corporate Narrative

Runrun.it

Check it out what you will find on this article about cyber risk management : Most Boards Still Struggle with Understanding Cyber Risk Management What Boards and IT Teams Can Do to Improve Cyber Risk Management Cyber Risk Management is a Perpetual Beta. Many board members in companies big and small are woefully ill-informed on cyber risk management best practices. Most Boards Still Struggle with Understanding Cyber Risk Management.

PMI Report: The Impact of Disruptive Technologies on Project Management

LiquidPlanner

The report revealed two distinct performance levels from companies that fell into two groups: the innovators and the laggards. Innovators See Benefits from Adoption of Disruptive Technology. Innovators, which made up the top 12 percent of the survey, were defined as organizations with a mature digital transformation strategy. Perhaps not surprisingly, the three most impactful of these technologies, as named by survey respondents, were cloud solutions, AI, and IoT.

PMI 62

Embrace Uncertainty: On-Demand Sessions to Help You Thrive on Continuous Change

Clarizen

During the Embrace Uncertainty virtual summit , results from a June 2020 global business survey highlighted a shift in business priorities since the start of the pandemic, with these key areas increasing in priority: . Improving our ability to innovate.

2020 95

PMXPO – The Virtual Event Before Virtual Events Were Cool

Keyedin

Every year we like to survey those that come across our booth to gauge the current trends and obstacles project management folks are facing in their organizations. Here are our finding and thoughts around market implications based on this survey of information. Every year we have surveyed project management professionals, resource management proves to be the largest threat to their company and its effectiveness to accurately plan resource capacity.

2020 60

Top 10 Project Management Conference for 2021

Appfluence

CIM 2021: Innovation and Management Conference, Tokyo (Jan 07-08, 2021). This project management conference is designed to focus on all aspects of management and innovation. International Conference on Software Project Management and Risk Management Process ICSPMRMP on January 28-29, 2021 in Sydney, Australia. The main focus here is to ensure that professionals from Asia have access to some of the top project management innovations and solutions.

2021 28

Top 10 Project Management Conference for 2021

Appfluence

CIM 2021: Innovation and Management Conference, Tokyo (Jan 07-08, 2021). This project management conference is designed to focus on all aspects of management and innovation. International Conference on Software Project Management and Risk Management Process ICSPMRMP on January 28-29, 2021 in Sydney, Australia. The main focus here is to ensure that professionals from Asia have access to some of the top project management innovations and solutions.

2021 28

7 Logical Fallacies That Can Harm Your Decision Making (With Examples)

ProjectManager.com

Reporting tools and surveys can help you collect the necessary data to avoid hasty generalizations. If this person is arguing, say, why a project must be aware of a certain risk, and you dismiss them because they’re always complaining, you’re making a logical fallacy. Plus, being innovative requires taking risks and being aggressive. That means a retreat from innovation, which is bad business. Logic appears to have been thrown out the window nowadays.

2018 329

Maintain a Healthy Project Portfolio with Metrics and Reviews

Arras People

Strategy informs the portfolio, which impacts on approved projects; in turn, these projects deliver the desired solutions and innovations. In a project management context, this includes estimated project costs, risks, and project duration. Project performance is tracked over time against the agreed metric, helping teams to make decisions, manage risks, and so on as work progresses. Quality: To help determine business value, gather customer satisfaction rates using surveys.

2017 150

Maintain a Healthy Project Portfolio with Metrics and Reviews

Arras People

Strategy informs the portfolio, which impacts on approved projects; in turn, these projects deliver the desired solutions and innovations. In a project management context, this includes estimated project costs, risks, and project duration. Project performance is tracked over time against the agreed metric, helping teams to make decisions, manage risks, and so on as work progresses. Quality: To help determine business value, gather customer satisfaction rates using surveys.

2017 150

Artificial Intelligence and the Role of the Project Manager in 2030

Inloox

After all, the human factor represents the greatest risk. This technology can be used for projects that are subject to constant change due to increasing complexity, fast pace and the high pressure to innovate in all industries. Recognizing innovation potential. Implementing innovations. In the year 2030, projects will no longer be controlled by managers, but by software.

2030 152

Using Digital Transformation to Be More Efficient

ProjectManager.com

Digital solutions are providing companies with new innovations and creative ways to tackle old problems more efficiently. Digital transformation is a way to get more innovative and take something beyond what a tweak of traditional methods might offer. The influence of having a digital transformation will define and shape your strategic direction, risk appetite and budget, technology enablement, pace of change and business agility.

2018 255

How AI Will Change the Future of Project Management

Workamajig

In one MIT Sloan survey, 63% of respondents cited it as the top reason for their interest in AI. It gives them warnings if a project is going off the track with respect to budget or time, and can give intelligent advice on scheduling, budgeting, potential risks, etc. Analyzing data remains the top use of AI according to an Econsultancy/Adobe survey ( Image source ). Enhancing visibility for Early Risk Detection. How will AI impact the project management industry?

Pulse of the Profession 2018: The Project Manager of the Future

Inloox

Organizations then have the ability to minimize risks, control costs and increase value. Innovator: acts as product owner and developer. Innovations in learning will continue to make it possible for the new worker to learn anything, anytime, and anywhere. New technologies bring rapid and continuous change to our workplace. In order to not only react to those but use them to make projects more effective and profitable, project managers need to adapt and keep on learning.

2018 148

Dynamic Planning: Refocus, Reprioritize, and Reallocate Rapidly

Planview

Nearly 70 percent of finance leaders are taking cost containment measures and considering postponing or canceling planned investments, according to PwC’s COVID-19 CFO Pulse Surveys (March 30, 2020 and April 13, 2020). EPMOs should be exploring how the organization can be more competitive and innovative as we get beyond the current crisis. Companies are also starting to model recovery scenarios, according to the survey.

The 6 Best Slack Alternatives for Effective Project Management

nTask

To give an idea of what it entails, it includes comprehensive modules related to tasks, projects, meetings, timesheets, issue, risk tracking as well as powerful search and filter options. Risk management module for identifying and jotting down potential risks. Arrange risks in lists and assign a risk owner in order to track risk management. Powerful search and filter tools to search for tasks, projects, meetings, issues, and risks.

2019 115

Shifting from Projects to a Product-Centric Approach

Planview

Customer demands are not static; they change as technology evolves and accelerate the pace of innovation. According to the Gartner piece, Survey Analysis: IT Is Moving Quickly from Projects to Products: About 40 percent of organizations use a product-centric model for software delivery, and that number will double to 80 percent by 2022.

2022 91

The International PMO standard from AIPMO

Henny Portman

Knowledge and Innovation. Innovation Operations. Knowledge management innovation. Risk management. Risk planning. Risk assessment. Risk identification. Risk response. Risk monitoring. AIPMO is developing the first ‘leading’ international PMO standard based on a combination of research findings and expert knowledge.

PMO 54

Managing Virtual Teams Successfully

The IIL Blog

Building High-Performance Teams necessitates that we utilize innovative tools and techniques to engage the audience. Risk: Uncertainties that may be encountered in implementation. A survey could be created that drives a visual dashboard of all team members participating in a specific initiative. By Dr. Willis H. Thomas, PMP, CPT .

2018 99

2020 Challenges and Trends in Construction

Epicflow Blog

Construction is one of the industries that don’t follow emerging innovative trends too quickly and enthusiastically but anyway it doesn’t ignore many of them to improve its state. Innovative Technologies in Building: AR, VR, and 3D Printing . Additive manufacturing in the field of building houses is not an innovative technology today as some countries have already adopted this technology for construction.

Project Management Trends in Manufacturing in 2019

Epicflow Blog

According to a recent PwC survey , 81% of CEOs in industrial manufacturing plan to improve efficiency – and thereby competitiveness – in order to grow. Nearly half of the business leaders who participated in a recent Global CEO Survey by PwC feel there is more uncertainty around their companies now than there was three years ago. They are able to combine traditional methods with innovative approaches.

How Savvy PMOs Drive Actionable Insights with Portfolio Dashboards

Planview

In a 2019 Deloitte survey of 1,000 U.S. Highlight how costs break down by portfolio project, capitalized versus non-capitalized expenses, innovation, compliance, “keep the lights on” activities, and more. Red status indicators alert leaders to problems or risks. As a result, the organization can more effectively achieve strategic objectives, mitigate risk, and capitalize on new opportunities. Does your PMO generate portfolio dashboards for stakeholders and executives?

2020 78

Why Projects Succeed or Fail

Girl's Guide to PM

Project failure – and preventing it – has been the subject of countless academic studies, surveys and books over the years. Businesses today face new challenges: the gig economy, tech that evolves faster than we can keep up, how to interface dozens of systems, innovation as standard, Brexit, running effective flat and virtual teams. Poor risk management. Understanding project failure is the first step to putting it right.

2018 269

Digital Transformation & Artificial Intelligence: Is your Organization ready?

Digite

To trace the origins of this concept that sounds so innovative, we have to go back to the year 1956. About 44% of 835 companies surveyed by Tata Consultancy Services are already using AI to detect and prevent intrusions. Assisted by Artificial Intelligence, Machine Learning and Big-Data technologies, they will be able to deliver more creative and innovative solutions to their customers.

2018 115

10 Tips for Project Budgeting

Appfluence

According to a survey conducted by the Clutch firm, 61% of companies do not create a formal budget. If it is a bigger project, it is best to hire experts in risk management and analysis.

How to use Agile Principles to Transform your Business?

Taskque

In a survey conducted to gauge the State of agile development , it was concluded that two reasons limit companies from shifting to agile. Show the side that being agile means to move away from the comfort zone and innovatively do things. Make your opponents take risks and learn from their mistakes. Businesses are moving forward – if you are not moving with that speed, you are losing quite a lot of business.

2019 53

Multi-Project Management: All You Should Know About

Epicflow Blog

Reasonable risk management. The Wellingtone survey on the state of project management in 2019 has shown that . 40% of the surveyed note that projects are never completed on budget, . Besides, specialized groups in social networks can also help you boost your PM knowledge, where you can take part in discussions and become familiar with PM trends and innovations.

15 Killer Project Management Best Practices to Make You a Better Manager

Workamajig

Are there any risks everyone should be aware of? Create a risk response team. Ideally, you would have all these issues accounted for in your project risk management plan. Another best practice to mitigate risk is to create a risk response team. This team should be comprised of experienced members who have wide-ranging access to plan, monitor, and control risks in the project. As Victoria Kumar says in a PMI paper - "leaders innovate; managers administer".

2018 97

Digital Transformation in Government Organizations: Tips from Microsoft, IBM, McKinsey, and PwC

Epicflow Blog

Digital transformation results in the implementation of a great number of innovative tools and solutions that will provide absolutely significant data. Under the conditions of digital transformation, employees and processes should be able to keep abreast of the changes and innovations. As stated in PwC’s survey results report , 49% of European employees are not ready for changes, and 52% think the companies they work for don’t have appropriate digital culture.

How To Make 2019 A Successful Year for Your Projects

Girl's Guide to PM

The lesson I need to remember is that, whilst experimenting is an integral part of innovation, the most successful programmes are those that recognise the ongoing needs of business-as-usual and balance the tried and tested with the new. I would also encourage project managers to be more innovative. If all they value is compliance and control they will kill innovation. You can also get a some free research paper that I did on the topic, from surveying senior executives.

2019 270

Digital Transformation Journey in Finance

Epicflow Blog

It’s a system that makes it possible to carry out transactions quickly and safely by eliminating risks like human errors. According to 2019 Consumer Digital Banking Survey [4], 61% of the respondents still think that branches are a convenient way to get services. Though it’s also associated with security risks. Here’s a list of the most significant threats on your path to innovations: Inconsistency of customers’ needs and the innovations implemented .

Digital Transformation Journey in Finance

Epicflow Blog

It’s a system that makes it possible to carry out transactions quickly and safely by eliminating risks like human errors. According to 2019 Consumer Digital Banking Survey [4], 61% of the respondents still think that branches are a convenient way to get services. Though it’s also associated with security risks. Here’s a list of the most significant threats on your path to innovations: Inconsistency of customers’ needs and the innovations implemented .

8 Benefits of Cross Functional Teams

EasyProjects

A lack of innovation due to siloed working conditions. MIT SMR and Deloitte’s survey of more than 3,500 managers found that “the most digitally advanced companies — those successfully deploying digital technologies and capabilities to improve processes, engage talent across the organization, and drive new value-generating business models — are far more likely to perform cross-functional collaboration.” – MIT SLOAN, APRIL 2019. They encourage experimentation & innovation.

2019 46

The Secret to Finding a Job as a New Scrum Master

Agile Advice

The dynamics we’re observing in the job market for Scrum Masters are well described by Everett Rogers in his paper called “Diffusion of Innovations” (1995). The authors of Scrum (Ken & Jeff, and others) were the Innovators. They are risk-averse, but not so much that they ignore market opportunities. They are risk-averse – to the point they ignore new trends and look instead for so-called “best practices”.

2007 45

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

Keyedin

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. Forecasting: Forecast from the project, resource, portfolio level and ensure you can measure and manage risk. Why Walmart nearly became the big fish story for a PMO leader.

2019 60

5 Cybersecurity Tools and Services to Consider

Brad Egeland

That matched up pretty well with other predictions and surveys I have read recently. If full prevention and avoidance is basically out of the question, then we need to focus on risk identification, mitigation and response. The innovative Trustlook Antivirus & Mobile Security app available on Google Play protects your Android phone or tablet against malware, harmful viruses, spyware, trojans, phishing attempts and unsafe web browsing.

2020 76