Get (Your Expectations) Real

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By Steven Macdessi

Project management has emerged as a popular profession in the last few years. It is usually done in order to plan, organize, lead and control the resources within given time. The main purpose of project management is to take maximum benefit from the limited resources and use minimum time in completing the whole project. Time and resource management are the two main building blocks of project management without which a project cannot be completed successfully. Unfortunately, most of the project managers fails to allocate budget and deadlines efficiently and effectively which results in failure of the project.

Importance of Budget and Deadlines in Project Management

A budget is an estimation of the total cost required for completing the project. Although, there always lie a difference between the actual expenses and the expected expenses but still this difference should be very minute. The undervalued or overvalued budget always results in financial problems. In the same way, deadlines are also very important. If you make a deadline of 20 days and your project actually completes in 25 days due to any problem then you will be embarrassed in front of your boss. It will also affect your good will so your deadlines should be near to real.

How Can I Make Real Budget And Deadlines?

Now when we are clear that our estimated budget and deadline should be near to the actual budget and time required for completing the project so the next question arises that how to do so? Making a real budget is not an easy job as many things are involved in it. What you may do is to make a rough estimation of all the expenses required for completing the project. You may take help from any previous budget made for a similar project. After making a rough estimation, you must add some extra amount for any extra expenses such as increase in the price of raw material, need of new machinery or repair of machinery etc. For instance, your total estimated budget including all the expenses is 1, 00,000 then you may add 20 thousand extra in it for emergency purposes. Moreover, you should follow a realistic approach in making a budget.

Deadlines on the other hand, also play an important role in the project management. You should make the deadlines according to the nature of your work. If your project requires 30 days to complete then you may set the deadline of 35 days. The extra 5 days are for any unwanted event such as labor strikes, problem in getting raw material, machine breakage etc. Some project managers make shorter deadlines. This not only increases pressure on the team members but also affect their efficiency, which results in low quality products or poor management. The best way for setting real deadlines is to divide the whole project in to small steps and then allocate an average time to every step. This is also called as critical path analysis. In this method, you find the best possible way by which you can complete the project within minimum time. After selecting the critical path, you can easily set accurate deadlines accordingly.

In short, you should be very realistic is deciding your budget and deadline for your project as it will help you to complete the project successfully.

Agile Project Methodology – Its Successes And Failings

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There are varieties of project management being introduced to project managers nowadays. Each project management approach has its own benefits and downfalls. One project management method might be suitable for certain project managers but not for all. The various project management methodologies had undergo critiques and evaluations to help project managers to achieve successful outcome.
Agile methodology is one of the vast project management methods that are proven to be efficient. This project management approach is capable of dealing with the deficiency that the waterfall model has.

How Can Agile Methodology Leverage You to Success?

Agile methodology is known to be iterative which principles are based on releasing usable end products in smaller chunks but the releases are more often. With this specific kind of project management approach, you can begin working without too much delay because you do not have to come up with the entire requirements. Having at least an idea of the facility or product that the client wants to have is the stage where you can have initial business requirement. Moving forward of refining the requirements, project managers and client will have deeper discussion that will help them to finalise requirements in higher level. After having initial high level requirements, the build and unit test stage can start.
Project management using agile methodology can guarantee high quality products because of the involvement of the customer in the various stages. Customers are highly satisfied with the end product because their needs and demands are being addressed during the entire process. This allows you then to gain sure fire profits after releasing the product to the market.
The involvement of client in project management through face to face communication between the user and the project managers lead to satisfying outcome. It can also provide early benefit to the user or customer because the prototype can be used if desired until the final product is completed.

Agile methodology is a unique project management that can deliver final product in least possible time by which both client and project manager can benefit through saving time and cost.
Failings of Agile Methodology

Like any other project management methods, agile methodology can fail you and your clients. The lack of detailed planning such as that are done with waterfall increases the chance of error with the initial project effort. Its smaller planning scope can lead to manifold changes to estimation in following estimation.
Project managers can achieve satisfying results if the user or client will have clear vision of the end product. But what if the client only has vague idea then this can result to delayed project management processes. Moreover, it can cause increase in the time, effort and expenses because of the extended process before final product is achieved.
This particular project management require critical decision making with less planning and time by which only experts and professionals are capable of attaining success. New resources might contribute new ideas but they should be guided by senior resources because one wrong decision can ruin the overall plan of the project management.
There are many who prove the efficiency of this project management but still there are those who fail. Be sure that agile methodology can perfectly suits the needs of your project management. If you want to experience its efficiency then you have to strengthen the good sides while work on more with the failings.

The Value of Having a Clear View of the Desired Outcome | Steven Macdessi

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With the different changes facing project managers, it is important to have a clear view of the desired outcome in order to accomplish the project. Expectations have to be set, procedures created, and controls put into place. There will be instances when unforeseen circumstances will force the manager to change course. By and large though, a clear view of what needs to be accomplished can set the roadmap to project completion. Here are the critical aspects that a project manager needs to have:

  • Client Expectations – if there is uncertainty regarding expectations, budgets, and deliverables, it is important to clarify these early on. Talk to the stakeholders to discuss whether their requirements are realistic. In some cases, the budget may be insufficient or the deadline is too early.
  • Team Expectations – the project manager also has to deal with the expectations of the team. Take into consideration their expertise, suggestions, and feedback because these aspects are the components that would make the project a success. The team expects the project manager to give them a clear target.

It is not only the expectations of the client and team members that are important, however. Probably the most critical is the view of the project manager. After all, he/she is the one in charge of ensuring that the project will proceed as smoothly as possible.

The Merging of Technology and Business | Steven Macdessi

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The relationship between technology and business is now closer than ever. The developments in computers, the internet, wireless connections, servers, and websites have allowed companies to gain a competitive edge through the use of technology. Business operations can be enhanced and processes streamlined by managing projects through software applications and related systems.

There is no doubt that technology influences business on many levels and in a variety of ways. In this article, we’ll outline some of its actual functions in the workplace:

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  • Information Processing – whether it’s financing reporting or programming, computers can process the information that is inputted into the system. With regards to accounting, for example, a user simply needs to enter the data and the computer will compute all the rest. The computer can also process and track all types of information.

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  • Business Mobility – in the past, even the most urgent of tasks must wait until the next day for someone to resolve the problem. Wireless devices such as laptops, phones, and other gadgets provide mobility to managers and employees.

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  • Information Sharing – better decision making can be achieved through information sharing. Company executives can communicate and coordinate with each other on real time through the use of technology. This will allow them to come up with the best output possible after sharing their insights.

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  • Sales Opportunities – technology has influenced the way people buy products. Companies can use this to their advantage. It is now a given for businesses to create websites which will allow them to sell products and promote their brand. This can be taken one step further through online advertising and through the use of mobile marketing.

Technology has brought business a lot of benefits but it has also brought a lot of challenges. This is because while it has enhanced operational efficiency, technology also made the competition in the marketplace even tougher.

Time Management by Steven Macdessi

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Article by Steven Macdessi

The Variety of Project Management Methodologies

The entire process of project management includes different steps, principles and strategies by which must be taken into consideration even the smallest detail that is integrated. Projects may vary from scope, objectives, goals and procedures to another project. The use of project management methodologies then may also be different from one project to another.

You can make use of the different project management methodologies which best suits your project. For your project management methodologies to be effective, you should know first what they are exactly. The following are the different project management methodologies that you can use with some of their details.

  1. 1. Traditional Project Management Methodologies.

This type of project management approach includes sequence of steps that need to be completed. These steps are the initiation stage, planning or design stage, execution or production stage, monitoring or controlling system and project completion stage. These procedures may differ or the steps may not be the way as it follows because of certain reasons. Some may repeat one step for several times depending on how the project will be able to make use of this project management methodology.

  1. 2. Critical Chain Project Management.

The resources are what this project management methodology put emphasis to. This method plans and manages the project with the goal to increase the rate of throughput of projects. This project management methodology uses the Theory of Constraints wherein the system constraints are the resources. Before the critical chain will start the resources must be ready so as to achieve the best possible outcome.

  1. 3. Extreme Project Management Methodology.

If your project seems to be very complex and uncertain then this project management methodology is the best that you can use. The human side of the project is the main focus of extreme project management methodology or others may call the XPM (Extreme Project Management). Utilising this will allow you to find ways on how to deal with the complexities of human collaboration so as to bring success to your project.

  1. 4. Event Chain Methodology.

Dealing with uncertainties of the project can greatly affect the outcome so when you doubt your abilities to overcome such then this project management methodology can be the best. Event chain methodology focuses on identifying and managing events which can affect the project schedules.

  1. 5. Process-based Management.

The process-bases project management methodology is oriented towards attaining a vision to guide the organisation rather than any activity or task. The vision may deal with the strategy and the structure, budgets, incentives or costs of the project. As the name implies the process will be the basis of the decisions to be made as the project is existing.

These are some of the project management methodologies that you can used to achieve better outcome of your project. Your choice may depend on what the situation or project may call. The type of project management methodologies may vary from one project to person and to business. Make sure that you choose the best project management methodology for you to be able to gain success.

Conducting Risk Management Assessment by Steven Macdessi

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Article by Steven Macdessi

Risk management is trying to identify and manage the hazards that could seriously affect or decrease the effectiveness of an organisation. In general, this involves reviewing the company’s operations, identifying potential threats, and determining the root cause of the problem.  The next step would to take appropriate actions to address threats.

Traditionally, risk management was thought of as primarily as a matter of getting insurance. The impression regarding this field has changed dramatically since then. With the recent changes in the rules and regulations, employee-associated claims, and reliance on key resources, risk management is becoming a practice that is as essential important as its financial management.

Specific evaluation of potential risks to the organisation should be comprehensive. The evaluation is usually conducted at least twice a year by a team of officials representing all the major functions of the organization. The evaluation must be carefully arranged, acknowledged, and systematically carried out.

Management Side:

Managers set the overall direction of the company. It is important to be sure that it is staffed with competent executives who understand the business from the inside out. Aside from their knowledge though, managers should also be good communicators. They need to make sure that the company’s goals are met.

The organisation’s resources should closely align with the accomplishment of the mission and vision of the company. All employees should also be treated fairly, conforming to rules and regulations.

Personnel Policies:

Every organisation should have policies until the day that guide the relations between staff and management. It should set the conditions regarding termination, underperformance, prejudice, discrepancies about endorsements and salary demands among others. Personnel policies should ideally be reviewed at least once a year by an external consultant who is an expert on all employee-related laws and regulations.

Operational Aspects:

Whether you’re in the construction business or in manufacturing, it is important to take note of all safety hazards within the organisation. All employees should be given appropriate safety gear and tools (if applicable). On the other hand, a thorough review of the operational process is also required.

There are many other facets that must be reviewed in a business. The financial side shouldn’t be forgotten. Determine if the company has a strong enough cash flow to withstand shocks in the economy. If it isn’t, it is important to determine the risk level you’re willing to take then start plugging all the loopholes in the system.

Steven Macdessi on Project Manager Responsibility

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By Steven Macdessi

At the surface level, the responsibilities of a project manager can easily be defined. However, when you look at it closely, the real role of a project manager does not always match what is written on the textbook. The tasks assigned also vary from one company to another. There are a lot of unique and real-life situations that needs to be handled individually. If the answer doesn’t lie on the textbook, where does it lie?

There are a lot of project management processes that has been introduced in the industry. Depending on the complexity of the work, company preference, and the industry it’s in, certain processes may be better than others. Project manager responsibility starts here. He needs to identify the scope, set the schedule, and ensure that all milestones are being met.

The process that is used for the said project may either be suggested by a higher executive or recommended by the project manager itself. No matter what particular process is chosen though, the key is that the overall goals, risks, approaches, budgets, and deadlines should be identified.

It is also important to consider the skills and characteristics of a project manager. The work can be completed successfully if he is process-oriented, analytical, have good self-disciple, has the ability to multi-task, a logical thinker, and has the capability to estimate delivery time and the necessary budget well.

People skills are also critical. The manager should be able to inspire the confidence and trust of the team members because they are the ones who will implement the project plan. It is best for all stakeholders to openly communicate their concerns to address any problem before it gets worse.

When the projects start, project manager responsibility includes the following:

  • Identifying and Managing Project Issues
  • Disseminating Information about the Project to Stakeholders
  • Managing Project Risks
  • Ensuring that the Output meets Quality Standards
  • Managing Scopes and Milestones
  • Defining Metrics to Know How Well the Project is Progressing
  • Communicating with Project Members to Ensure that the Project is Delivered on Time and Within Budget

Some of the tasks above may be assigned to a team member. But the success of the project still relies on the manager. He is responsible for overseeing the progress of the work. If expectations are not met, it needs to be dealt with later on. Success should be attributed to every member of the team but the project manager is held accountable when the outcome doesn’t meet expectations.

Basic Steps in Project Management

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Every project will undergo a variety of phases before it reaches its completion. These include planning, control, and closure. There are a number of factors involved at each stage. That’s why the role of a project manager is an important one.

Initiation and Planning

It all starts with an idea. Whether it’s launching a breakthrough product or streamlining business operations, these things will undergo a number of processes that can broadly be called a “project”. Once a task has been identified, it can be assigned to a team or specialist. In many companies, people with different backgrounds are grouped together to complete a common objective. A project manager is in charge of the team.

Among the things that the project manager need to clear up in the initial stage include the goals, assumptions, issues, risks, benefits, costs, team members, and the deadline. The initiation stage ends when formal agreements are reached about proceeding.

Control Aspects of Project Management

The ability of a project manager can really be tested in the control phase because it involves tracking progress, managing team members, and making sure that deliverables are met. In many companies, the project plan is outlined in a Gantt chart. It identifies the tasks, timeline, stages, and resources assigned to each team member. A good project manager should strive to meet or surpass the requirements outlined in the plan.

It is important to have a good plan of action outlined in the Gantt chart. It will enable a project manager to measure the progress of both short-term and long-term objectives. In any plan, there will always be risks. Being aware of potential issues helps make plans more flexible and responsive to uncontrollable factors. With this in mind, project managers that handle complex tasks usually have a risk log. It outlines all the potential problems that might be encountered with appropriate plans of action for damage control.

While the project is underway, having someone to monitor all expenses is also crucial. There are a number of initiatives that have never been completed due to out-of-control cost. Regularly checking the expenses of each team member, or division, should be a priority.

Closure of a Project

After achieving the desired output, many project managers fail to close the project at the right time. It is simply overlooked as the team becomes busy with coordinating with people from the outside. If nothing more needs to be done, the project team should be disbanded. Otherwise, it can slowly consume more resources from the company.

It is best to create a documentation report of the project closure. Lessons learned can be published on paper to serve as a guide for future endeavours.