PMcrunch

The learning curve was “invented” many years ago. It refers to the competitive advantage derived from having learned a great deal about a product, service, market, or other competitive factors along the way. The learning curve can be a tremendous source of competitive advantage to organizations that have rode it upwards, especially when compared to those who have not yet accomplished that learning.

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Though I have not heard it made official all indications are that we are in recession. This appears to be not just for the United States but for much, if not most, of the rest of the world. The cause of this recession, of course, is the credit crunch and all issues surrounding that. So the big question is, “What can project and program managers do to cope with this recession?” I have some thoughts, and for reference have tapped into ideas of Jack and Susie Welch.

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There is no doubt about it we are in tough economic times. The current woes on Wall Street are only the most recent evidence of our collective economic difficulties. So the big question is how do project and program mangers cope with these difficult times. Many fear the loss of jobs and extended time away from work. This includes team members, it can include stake holders, it can include the project and program managers themselves. It is this fear that is one of the important keys to coping with difficult times.

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I have encountered misunderstandings numerous times due to different concepts of the meaning of the word ‘plan’. There are various types of plans. In Project Plan Integration, we pull together various aspects of the project plan, which taken separately actually represent separate plans. One of those plans, the Configuration Management Plan, is one that I have encountered misunderstanding over.

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Business or organizational strategy is intended to drive all decisions within an organization. It provides a direction, a rallying point, and a litmus test for decisions at all levels. Hence, it only stands to reason that strategy would drive the project portfolio management process.

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There is lots of good talk about project metrics. Much of it centers on project performance. But there is another side to it, organizational metrics, related to how the project is contributing to overall organizational goals. Thinking a little differently and exploring a different perspective can provide better focus and produce more positive impact.

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Project Communications plans provide project managers with the opportunity to think through how the various stakeholders and the project team will communicate with one another. I think a case can be made for thinking a little more broadly about this in today’s Web 2.0 world.

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Anyone who has been “around the block” at least once is likely to have encountered problem performance on the part of at least one person associated with the project. The question is “How do you deal with problem performance and how can you improve it?”

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Thomas Edison was the quintessential mistake maker. He believed that the more mistakes he made, the more wrong answers and wrong solutions he could eliminate and, therefore, the closer he came to the correct solution to his problems. In management and on projects, on one hand, we seek to minimize mistakes but it is important to recognize when “mistakes” can actually be beneficial and produce positive outcomes. Indeed, we should not be afraid to make mistakes but rather should try to control and leverage the process. The project portfolio management process is an ideal place to formally do this.

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Good projects map well to organizational goals. In fact, the best organizations make sure their initiatives are in alignment with their strategic plan. Whether for project initiation or for simply evaluating how the value of a project fits within the organization, becoming familiar with the strategic plan is invaluable.

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