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Project Management -Strategic Competency, & Trends
Vijay Prasad M.Tech, PMP
Visiting Ukraine in partnership with SoftServe
4 March, 2011
Project Management a Strategic Competence
Project Management a The Strategic Competence
Excellence in Journey in Different Entities
Stage Stage Stage
Academia
STARTUP & EMERGING GROWTH TRANSFORMATION
Business Government SocietySelf
Stage OutcomeStartup & Emerging Differentiation , Sustenance
Growth Expansion, DiversityTransformation Leadership
Stage Focus
Startup & Emerging
Right Projects & Prioritization for strategic alignment
Logical grouping ofinterrelated projects to deliver higher value
Scope, Cost, Quality, and Time management of a project
Growth Transformation
Project Portfolio Management
Program Management
Project Management
Projects are the catalysts for excellence in all stages
Strategic ObjectivesDevelop new products /services
Enter new markets
Implement new ERP system
Prepare for SEI/CMM level 5 certificationReengineer Order Processing businessProcessDesign, construct new 8 lane highway
Design, build 100% Green House
Plan and complete PgMP certification
Enterprises, Societies, individuals have strategic objectives in order to advance in business, livelihood, in profession and personal life
Business, society, individuals all want to advance
Strategic ObjectivesDevelop new products /services
Enter new markets
Implement new ERP system
Prepare for SEI/CMM level 5 certificationReengineer Order Processing businessProcessDesign, construct new 8 lane highway
Design, build 100% Green House
Plan and complete PgMP certification
Strategic Objectives are
achieved through work
as Projects
Projects
Projects are means to achieve strategic objectives
Strategic: Projects drive business performance
• 600 executives worldwide surveyed by Economist Information Unit
• “What skill is most important in your staff?”– Project execution
• “What capability does your organization most need?”– The ability to implement strategic change
• Two ways of saying the same thing –- because strategic change is implemented through projects
Project Management is the Strategic competence
Source: PMI
Strategic: Projects steer the global economy
• More than 20% of gross global product is spent on fixed capital projects
• Add projects in IT, new product and service development, and other knowledge work
• 20 million people worldwide work on project teams full-time or part-time
Source: PMI
10
The Word Is Out • 50% of project failure
traceable to poor (or no) project management:– Bad estimates/deadlines– Scope changes– Poor resource planning
• “80% of higher-performing projects use a certified project manager
• More innovative organizations extend project thinking to program and portfoliomanagement
PricewaterhouseCoopers survey, 2007
Source: PMI
11
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
1975 1985 1995 2005
PMI Membership Growth-An indication of importance
-of Project Management320,388July 2010
• Members in almost 200 countries• 250+ geographic chapters• 30 communities of practice
Source: PMI
Value of Project Management
A New Understanding of Value
•3-year, $2.5M study documented value through 500+ interviews at 65+ organizations worldwide
•Successful PM implementations must fit specific organizational culture, market, risk tolerance, etc. Source: PMI
Three Kinds of Value
• Execution: results, performance, project success, “on time and on budget”
• Integration: alignment, communication, breaking down silos, agility
• Learning: change management, innovation, new product /service /capability /business process
All three values pay off in high performance
Source: PMI
• In addition to better business outcomes, organizations reported indirect value such as:– Improvements in decision making.– Enhancement of communications and
collaboration.– Improvements in effective work cultures.– Alignment of practices, terminology and
values within the organization.– Overall effectiveness of the organization
and its management approach.– Improved transparency, clarity of structure,
roles and accountability.
Strategic: Projects transform organizations
Source: PMI
16
It All Adds Up in Value
+ Learning+ Integration
Execution
Real business value
Real organizational value
Real strategic value
Source: PMI
Value of Project
Management
Enterprise Value
Execution ValueIntegration Value
Learning Value
Personal Value Societal Value
General Management
Value
Value Of Project Management
Personal Value
Self Confidence Sense of Achievement
Higher Motivation
Value Of Project Management
EnterpriseValue
Organizational ValueBusiness ValueStrategic Value
Helps implement ChangeIncreases Agility
Helps overcome obstacles as:Unstable Economy
Resource ShortagesSoaring Costs
Increased ComplexitiesHeightened CompetitionTechnological Changes
Value Of Project Management
Societal Value
Increased Confidence in Public and Private initiatives
Value Of Project Management
General Management
Value
Strenghtened functions:Planning
OrganizingDirecting
ControllingProblem solving
Value Of Project Management
Wedding Project
Fix the Muhurat time
Identify Events Identify Pundits
Identify ProjectManager
Setup PMO and establish n&s processes
Identify Track Leaders
Identify and estimate guests
Identify EventHalls
Identify acco for guests
Program individual events
Select caterers & finalize menus
Select Bands and musicfinalize menu
Identify decorators and finalize deco
Identify A/V vendor and finalize tasks
Identify photographer and tasks
Identify logistics V and finalize L
Identify Commneeds and procure devices
Buy jewelry, clothes, gifts,….
Invite guests Formal Closure
Programs, Processes, People, Products
Strategic: Illustration of Personal Competency
Trends in Project Management
Project Management Continues to Grow Strongand hence becomes more and more Strategic…
Technology
Verticalization
Standards
Tools & Techniques
Virtualization
Innovation
Global execution,Diversity
SustainabilityProject Management
Project Management Trends
Project Management becomes specific from :
Professional Standards to Industry specific to Company specific to Unit specific to Project specific
Project Management Trends
Becomes mainstream business process
Process Automation – Framework driven
Frameworks for sale
Project Management Network Services
Integration with Knowledge Management and Change Management
Global Project Management
Project Management TrendsOutsourcing
Components Maturity including PMIS
Academia, Business, Government, Society, Self embrace immensely
Enterprises will be evaluated on Execution
Enterprise PMO will gain prominence
Project Management Trends
Art component decreases while science component increases
Innovation and creativity will drive new dimensions
About Project Management Institute (PMI)
The Project Management Institute (PMI)www.pmi.org
• Leading Project Management association -founded by working project managers to share experience and best practices
• Not for profit, volunteer-driven• 500, 000 members+ credential holders around
185 countries• Offices in North America, Europe, Singapore,
India, China and Australia30
Source: PMI
31
PMI’s Core PurposeAdvance science and practice of Project Management globally in a consistent way
Serve practitioners and organizations with:
• Standards that describe good practices
• Globally recognized credentials that certify project management expertise
• Resources for professional development, networking and community Source: PMI
PMI Standards: Globally Recognized
32
Source: PMI
33
PMI Research• PMI supports the most extensive research program
in the profession
–More than 350 publications to date–16 projects currently under way
Source: PMI
• Certified Associate in Project Management (CAPM®)• Scheduling Professional (PMI-SP®)• Risk Management Professional (PMI-RMP®)
PMI Family of Credentials
• Project Management Professional (PMP®)• Program Management Professional (PgMP®)
34
Certificate In Agile announcedSource: PMI
35
Sustainability
• The foundation of corporate social responsibility (CSR)– Ethical and professional
responsibilities of project managers– Look at dependencies beyond the
“iron triangle”– Foster transparency and
accountability– Not just corporations but all
organizations… PMI included! Source: PMI
Project Management Institute Educational Foundation(www.pmief.org)
36
Source: PMI
37
Worldwide, organizations will embrace, value and utilize
project management, and attribute their success to it.
Making project management indispensable for business results.®
PMI’s Envisioned Goal
Source: PMI
Jack and Jill went up the hillTo fetch a pail of waterJack fell down and broke his crownAnd Jill came tumbling after.
This way, we will be moving from rhyme
to theme – with Project Management
Jack could have avoided this awful lumpBy a project approach and using best practices Like installing a pipe and a big pumpAnd handing Jill the invoices.
Adopted from Project Management: A Systems Approach to Planning, Scheduling, and Controlling - 2nd Edition by Dr. Harold Kerzner,
Academia Business
GovernmentSociety & Self
Academia Business
GovernmentSociety & Self
All entities should embrace more Project Management -The Strategic Competence!
I congratulate SoftServe and local Project Managers in Ukraine for starting theProject Management Community
43
Thank you
My Contact Details
Vijay Prasad
Mobile: +91-98490-06070