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Showing posts from April, 2012

A Project Plan for the Future

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The project plan for a business venture has to be set down and documented for its full potential to become a reality. This is most commonly done today in the digital format so time and energy can be saved in the arduous task. The creating of a modern project plan today is generally done with the use of several different project management tools that are available. Of these project planning tools, the most often used is the project management template sets. This is a collection of 52 different digital templates used for the planning and documentation of the projects many different components. There are nine different processes that every project plan has to have documented. These templates are laid out so each one is done in the most logical and effeicent manner so the execution phase of the project’s lifecycle can be achieved with the fewest problems. Each template has been created by applying the most current business models for that particular process along with the internal tool...
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The research team has identified 5 trends. Let’s look at each of these. 1. Portfolio management The difficult economy means that businesses will continue to prioritise project portfolio management. The research shows that more than half of the survey respondents say that project portfolio management is in frequent use in their organisations. This is an increase of 5% over the results from last year, which shows that the use – in a structured way – of portfolio management is on the rise. Over two thirds of organisations now have a Project Management Office (PMO) as well, which is another contributing factor to the increase in portfolio management. In times when non-valuable services are being cut, it is good to see that the value of the PMO is being recognised for selecting and managing projects to successful completion. 2. Iterative project management Companies need to be more nimble and respond to market conditions quickly. This has driven an increase in the rise of what PMI...

How To Estimate Project Work

One of my primary goals for this experiment is to find a method which avoids the phenomenon of anchoring as much as possible. Let’s see what it looks like. Step One: Deliverables Defined Make sure that you have your work breakdown structure defined properly. If you’ve read my book, you know that the work breakdown structure is extremely important to me, regardless of whether you are working on a waterfall project or an agile/leave project. If you don’t start out with a good definition of your scope, then everything else down the line is for naught. Garbage in, garbage out. Step Two: Relative Sizing Delphi The first round I used for my teams this time relied on the relative sizing method that many agile teams use when trying to come up with estimates for their projects. So there was a range of T-shirt sizes between XXS to XXL and everything in between that my team to select from. Whenever using any kind of relative sizing model, you need to make sure that your teams are co...