PMcrunch

FMEA is an important lean Six Sigma technique that has potential to be used in project management. While in Six Sigma it needs to be used at a very rigorous way, there certainly is some room for flexibility when used in project management. In either case, it is a good structured technique for analyzing problems and identifying solutions.

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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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The TenStep set of free templates are helpful as a very basis step to structured management of your project, and the most helpful piece was the Project Charter. Given my use in framing a relatively small project, I would also say that it has limited use for larger projects, but is still of value as a first cut for any project. That being said, my breakdown was framing a larger project into a smaller, shorter term project that would define the larder project. This could be a great way for others to use the product.

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There are some key factors that must be in place in order to put Earned Value Management into practice. These ‘key factors’ are all good project management practices. Indeed, part of the benefit of practicing earned value management is the disciplined process that earned value demands up front! In other words, you cannot implement earned value management without practicing good project management!

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Engineering and Management, as disciplines, were ‘married’ a long time ago! It only makes sense, as every engineering effort must be managed. There are some key differences between managing the engieering work and manageing the engineering project.

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Engineering analysis is often an input to overall project management. However, in larger organizations, or in consulting firms that service a multitude of customers, the engineering analysis is a project unto itself. This brings to the surface the question, “What is the process for these types of projects, and how does it map to the PMBOK?”

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There are 5 keys to managing risk in an organized, structured manner. The key here is to THINK AHEAD! PLAN for potential risks! The larger the situation, and the more complex the interrelationships and dependencies among elements of the over program, the more critical it is to be formal about this.

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I find that the Juggler’s Dilemma is a great concept and provides an analogy that I can use on a regular basis. Beyond right brain analysis, it also provides a simple “gut check”, as the juggler surely FEELS something in his gut when he is getting to the tipping point!

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I recently read a forum entry where someone was looking for advice on PM tools and PM software used across the globe for IT needs. The person mentioned that their company had some general tools like Critical Path, PERT etc., and various models for Estimation. The question was “What would be best software to support all these tools + models and standards like CMMI or ITIL, then support for SEI – indicator template for measurement analysis, Risk Management alerting + Alerting on Change management etc. Also requested were opinions on using lines of code as a metric.

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