PMcrunch

Two methods of capital budgeting often used on project and in project portfolio management are internal rate of return(IRR) and net present value(NPV). They are close cousins but take a little bit of a different look at the value of a project. They are both time based and bothrelayed to cash flows over time on a project.

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In managing a project or program, we start with an objective, work in the details, get buying, put together a schedule, and implement. Of course, that is a very simplified version of what happens in project and program management but…

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An important consideration for any business is to think about whether or not its business model is effective. Presumably, any business will have at least a somewhat effective business model because if they did not, they will not be able to stay in business for long. How does the concept of business model impact project management?

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There are certainly many lessons from the American presidential election, but I simply want to focus on one idea that I have believed in for a long time. That idea is very simple — change is good. While Barack Obama’s campaign was all about change, I would argue that the entire election was about change. Let’s take a look at how this change theme is important to project and program managers.

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In these tight times, we are acutely aware of cutbacks, of scarcity, and of the need to streamline. However, really, these are indicative of management practices that should be occurring all the time. In portfolio management, especially, it is important to have a healthy balance between short term considerations and long term considerations. It is all a balancing act and the equation really only changes slightly during a downturn, such as we are currently experiencing.

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On your project teams over time, there surely have been “pivotal performances”. Just like in a basketball game there was something that the winning team did throughout the game, that proved to be pivotal to the outcome of that game. There are things that each team member, and the team as a whole does throughout a project, that are pivotal to the projects success. The question is, how do you find those things, and how do you get your project team to turn in pivotal performances, routinely.

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All professionals – Project Managers, Program Managers, Executives, leaders of all kinds -  worry at times, and some more than others.  Worrying a lot or a little is actually a controllable habit.  Worrying a lot is little more than trading your peace of mind and taking a negative view of the future.  The urge to [...]

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The business analysis function is one that needs to be managed with care and the wisdom of experience. Business analysts handle requirements management, systems analysis, business analysis, requirements analysis, or consulting. The various activities around these functions take place throughout the project and require continuous monitoring, starting at a high level near the beginning of the project. This post explores key business analysis activities throughout the project lifecycle.

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Project Portfolio Management, like Investment Portfolio Management, is a balancing act that requires constant monitoring and adjustment over time. Whereas an individual may have the right balance of risk, return, income, growth and others represented in an investment portfolio, a project portfolio is similar in many ways. Risks, returns, resources required, and alignment with overall strategy are just a few of the factors that must be kept in balance over time.

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A CEO said, “I’d hate to lose you—you’re one of the few people around here who actually cares.” While highly dedicated people can be rare. Deliberate effort to find and retain such people is a worthwhile performance enhancement initiative. Here are 5 key ideas to implement to have more project team members who care!

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