The Benefits of Including Project Sponsors in Your Training Program

Corporate America invests millions of dollars each year in project management – offices, technology, project management training, and project management consulting support. Conversely, data reflects that even with project management being a relatively common process used at most companies; project success rates do not reflect the investment. Studies show that project management success rates range between 35 to 45% – far from a sensational benchmark to brag about. Bottom line, despite many companies investing in project management infrastructure most projects are not delivered successfully (on-time, within budget and to desired quality). Though the root causes for project failures are many, one glaring deficiency becoming clearer is the lack of project management training at the sponsor level. Project managers usually garner most of the attention for project management training initiatives, followed by team members and software experts. However, project sponsors – those individuals who fill the role of resource provider, key decision maker and remover of obstacles -tend to slip through the training cracks. Including project sponsors (and executive stakeholders) in project management methodology training will help three key areas project sponsors training: (1) better project direction, (2) better project data utilization, and (3) improved cultural adoption of project management.

Common Characteristics of Productive Sponsors

  • Understands the Planning Methodology
  • Provides Active Direction During Planning Sessions
  • Stays Current on the Latest Project Status Report
  • Uses the Project Information Provided to Challenge Teams
  • Commits to Instilling PM in the Corporate Culture
  • Is Present and Engaged During Control Meetings

Better direction

The project sponsor plays a key role in defining the strategic direction of the project and communicating management’s expectations for the project. This information is often times captured in the form of a project charter. If a project sponsor has not been involved in the basic building blocks of project charter development, they often times struggle to provide
clear direction to the project manager. The result is the project manager may drive the team to successfully completing the wrong project! The project sponsor is the conduit between the executive stakeholders and the project manager. Without a clear understanding of how to communicate the objectives of the project, how the objectives of the project determine the key deliverables, and how the project manager can best deliver the project with specified deadlines; the sponsor is ultimately helping to facilitate a failed project. By ensuring your project sponsors are grounded in the same project management methodology as the project manager, you are providing your project manager and team the best opportunity to launching a successful project.

Better Project Data Utilization

Project management information is not very valuable if it is not being utilized effectively. Even the most detailed report package or visually stimulating powerpoint presentation will fall on deaf ears if the recipients do not know what they are supposed to do with the information provided. To this point, the sponsor’s key role throughout the course of the project is to allocate and redirect resources as needed, remove obstacles preventing the project from moving forward, and providing strategic direction to the project manager, among others. Without the sponsor understanding the same planning methodology as the project manager, discussions on concepts of critical/controlling path, compression techniques, and resource management alternatives, will often get confused. In the end, the sponsor and project manager may either get misaligned or the sponsor gradually becomes disengaged. By including the project sponsor in the project management training, they are able to internalize the data being presented to them, understand strategic options and provide more sound direction to the project manager.

Cultural Adoption

Successful project management initiatives are not rolled out without some discomfort involved. Project management is a process that involves the team’s time, focus and commitment to success. Without these elements, everyone is simply going through the motions and not viewing project management as a value added management tool. When utilized to its fullest, project management can be an early warning system that helps reduce organizational stress and assists the project team with prioritizing their time.  A strong sponsor that is well trained in the planning methodology and bought into its success can act as a “lightening rod” in channeling project success into a cultural game changer. By driving the team to become engaged in the planning and control process and utilizing the techniques they have been trained in, they can quickly generate momentum that illustrates their investment (time and budgetary) are worthwhile.

The project sponsor fills a critical role in the success of a project and thus should be grounded in the same planning and control concepts as the project manager and team. By not including the sponsors in the training, the message received from the project manager and team is “do as I say, not as I do” – a recipe for failure. By speaking the same project management language the sponsors are able to take a more active role in setting the direction of the project, ask the right questions when the project management data is presented, help the project manager navigate potential obstacles during the project execution and ultimately motivate the overall corporate culture to adopt project management as a value added process.

project sponsors training

 

BUILDING YOUR PMO’S PROJECT PORTFOLIO

 

Most project management professionals have their own project portfolios—they come in handy during job interviews, performance reviews, etc. But your PMO should also have a portfolio. It’s a great PR tool when your team hosts networking events, and it’s also helpful when introducing your team to a new executive or key stakeholder. We’ve put together a quick guide to get your PMO’s portfolio started.

 

Select a handful of projects to include. You can’t include everything, but look for a variety of projects that showcase your team’s versatility. Include at least one very large project, one high-visibility project, and one project that directly affected the company’s bottom line. Projects with particular significance (improvements to a manufacturing facility, for example) or that demonstrate your team’s expertise in niche areas (perhaps a project completed under regulatory oversight) would also be good additions.

 

Create a project summary for each project. Viewers of your PMO’s portfolio will want to quickly understand the basic objectives and parameters of the various projects your team has executed, so give them the basics at a glance: a short list of key deliverables, information on the project’s duration or timetable, cost data that includes budgeted and actual figures for expense and capital line items, a list of key project team members and their areas of responsibility, and other notable resource allocations or project details. Keep each project summary to just a single page for easy viewing.

 

Pull some photos together. Few things can help viewers understand the scope and impact of your projects like pictures. But you don’t need many—select one or two large photos that best describe the project’s challenges and final outcome, along with a few smaller pictures that highlight particularly interesting aspects of the project. Any more than that, and your viewers will likely lose interest.

PMAlliance uses a team of highly experienced and certified professionals to provide project management consulting and project management training services.

 

GETTING OTHERS ON THE PROJECT ADVOCACY TRAIN

Engagement is an important aspect in many projects—whether it’s with other project management team members, stakeholders, end users, or external business partners—but sparking real interest in people outside the project team can sometimes be difficult. There are a number of approaches a good project advocate can take to make their efforts really count, but how can they get others thinking (and acting) along the same lines? Below are a handful of simple strategies to get you started.

 

Encourage team members to interact with end users. Open lines of communication are the best way to ensure all needs, requests, and concerns are brought to the PMP team’s attention early. Rather than creating unnecessary bottlenecks, a commitment to project advocacy should be driving PMOs to solicit end user input through as many channels as possible. Conversations don’t have to be formal, but they do need to go both ways. When project updates are released, make sure end users know that team members are available to answer any questions. As project milestones are achieved, even minor ones, empower team members to ask end users how things are going from their perspective.

 

Invite stakeholders into the trenches. Project champions, especially high-level ones, don’t need to be part of the day-to-day operations. But it can be useful if they understand a project’s impacts on end users at a granular level. Make the majority of project meetings open to stakeholders, and try to get them to attend at least occasionally. Partner them with team members during informal discussions with end users. Encourage them to learn about the project’s challenges, and ensure they know which end user groups are likely to be affected by them. By bringing stakeholders closer to the project’s inner workings, they’ll be better equipped to understand the genesis of end user requests and concerns.

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ARE YOU REALLY A PROJECT MANAGEMENT ADVOCATE?

GETTING OTHERS ON THE PROJECT ADVOCACY TRAIN

BANISH THE BULLY: PROJECT MANAGEMENT TRAINING

Earlier we looked at some of the signs that indicate you might have a bully in your PMO (Bullying In The Workplace). But once you’ve confirmed there’s bullying going on, what can project management team members do about it? If the bully is the leader of the team, affecting their behavior will likely be difficult. You may also be hesitant to raise the issue with someone in a position to fix the problem—the bully’s boss, for example—for fear of reprisals. There are other options, though, that may help your project management team address the situation in a positive way.

Get HR involved. Employers today typically won’t tolerate any measure of bullying in the workplace, so bringing an HR rep into the conversation may be the best way to resolve the situation. They’ll work with the bully to modify and improve their behavior, and may also be able to address issues the problem has caused within your PMO. Be sure to pull together several examples of the bully’s problem behavior ahead of time, to help illustrate exactly what’s going on.

Establish alternate communication channels for stakeholders. Help project supporters and end users avoid the bully by designating a point person for these folks to contact with project questions or concerns. Beware that this may not be an option in those cases where the bully has purposely made themselves the sole communication conduit into and out of the PMO, as they’re unlikely to relinquish such a powerful, visible role.

Create new opportunities for team building. If one person’s domineering behavior is hurting group morale, take the time to schedule some activities designed to pull folks back together and rebuild trust. Even a simple team lunch can work wonders. Plan something offsite, and keep your intentions quiet so the bully doesn’t catch wind of it and show up.

PMAlliance uses a team of highly experienced and certified professionals to provide project management consultingproject management training and project office development services.

7 THINGS THAT CAN KILL YOUR BUDGET

Project management professionals are highly attuned to budget obligations—nearly everything they do is with an eye toward meeting budget objectives while adding value at every opportunity. But with all of the other tasks under the umbrella of the PMO, there are some common practices that often wreak havoc with project budgets.

1 – Not appointing a budget monitor. If your team doesn’t have a specific person keeping an eye on the amount spent and dollars still available across the entire project, budget issues can quickly build up and spiral out of control.

2 – Waiting until late in the project to add up actual expenditures. This habit has nightmare written all over it, as you likely won’t recognize problems until it’s far too late to properly resolve them.

3 – Assuming you can get additional dollars approved. This usually guarantees an uncomfortable conversation with an executive who may not have any more money available (and who will surely wonder why your projections were off base in the first place).

4 – Focusing only on high-dollar items for aggressive cost negotiations. Don’t underestimate the amount of money your PMO can save by value engineering small budget items, which often greatly outnumber the big ticket expenditures.

5 – Expecting to address cost overruns by “borrowing” money from other projects. Even if you resolve your current problem, you’ve now created a new crisis that will need to be tackled later.

6 – Relying on another group for real time cost tracking. Many departments have their own methodology for accruing and recording project costs, and their approach may not provide your PMO with the information it needs to stay on track.

7 – Monitoring all costs equally. Most projects have high-risk areas that should get additional scrutiny (either checking expenditures more frequently or examining them at a higher level of granularity).

Project Management in a down economy

PMAlliance Project Management Training

4 WAYS TO SPICE UP YOUR PROJECT MANAGEMENT TRAINING PROGRAM

Project Management Training is an ongoing activity for most PMOs, but participants can get burned out if the routine gets stale. We’ve rounded up some tips to keep students interested and enthusiastic.

1 – Offer one on one sessions

Training is typically more time- and cost-efficient when multiple students attend, but individual sessions can offer a helpful alternative. They’re especially useful for students who travel or work irregular shifts, and may have difficulty blending common class times into their schedules. If you have a mentor program, you already have a list of experts potentially willing to lead occasional sessions.

2 – Go offsite

Students who are too close to their desks might not give training their full attention— it’s too easy to run back for a quick e-mail or voicemail check, which is never actually quick. Traditional venues are fine, but if you’re looking for something more interesting (and perhaps less expensive), consider the picnic benches at a nearby park or even a coffee shop for events with only a handful of students.

3 – Go online

Computer-based training is a great way to offer sessions that are efficient and can accommodate the schedules of multiple students. It works particularly well for short classes, where participants can easily tune out distractions because they know they’ll be available again before long. Online presentations can also be used during traditional training sessions to offer students access to remote experts or additional accompanying material.

4 – Turn students into trainers

Interactive classes can help to keep things interesting, and tapping participants’ expertise to expand the group’s knowledge base is a fun way to maintain a high enthusiasm level. Be sure you don’t rely on any one person too much—instead, schedule several folks to present different material. This will ensure that everyone gets the chance to be a student.

PMAlliance project management consulting.

 

THINK BIG

Setting objectives is nothing new to project professionals, but sometimes it’s too easy to let stakeholder expectations drive progress. Resource constraints will always be with us, but try injecting one or more of these tips into your next project to see how much your team can accomplish if they aim beyond users ask of them.

Take standard projects to the next tier
Most PMOs have a handful of repeating projects—software development, employee relocations, equipment design, etc.—that sometimes cause the team to go on auto pilot. Rather than applying the standard template to the next such project, step back and choose one thing improve upon. Make the enhancement of the target area its own objective, and see how much you can boost results. Choose a different area of focus during the next project and repeat the process.

Examine the potential for insourcing or outsourcing
If your team is stretched thin juggling too many disciplines, consider turning over one particularly resource-intensive task to an experienced contractor or vendor. Conversely, determine if it’s feasible to bring an outsourced task in-house (this works especially well if you’re interested in gaining better control over the cost or quality of a particular function). The change might result in your PMO beating the pants off the typical project schedule or budget, but even if it doesn’t, your team is likely to learn some new ways to streamline old processes.

Establish areas of expertise
Generalists are crucial to a PMO’s success, but everyone has at least one area they’re particularly skilled in. Talk with your team to identify those niches, and then encourage people to beef up their individual expertise even more. By developing next-level competence in each of their focus areas, your team members can significantly add to the sum total of the group’s knowledge.

Project Management professional

PMAlliance Project Management Training

4 THINGS TO REMEMBER WHEN DEALING WITH STUBBORN PEOPLE

Much of project management consulting centers around negotiation—objectives, expectations, timeframe, and budget. There are occasions where negotiation may be impossible, such as when budget limitations simply won’t allow additional money to be approved, but sometimes plain human stubbornness keeps the team from making progress. When someone comes to the table refusing to negotiate on key points, project professionals should keep a few things in mind as they try to move the discussion forward.

1 – Even hard data might not sway them
Before you dedicate significant time or energy to gathering data that supports your viewpoint, remember that stubbornness is sometimes immune to empirical evidence. Facts won’t always unseat deeply held ideas, concerns, or opinions.

2 – Ask and listen
Because data might not be enough to change a stubborn person’s mind, see if you can get to the root of why they’re stuck on a particular point of view. Turn the tables and pull information from them by asking about their experiences and perspectives. They might divulge something that points you toward an acceptable compromise or workable solution.

3 – Public opinion could work in your favor
You alone may not be able to bring enough pressure to bear to convince a stubborn person to back down or to secure a compromise. In these cases, consider rallying others to support your cause. This could take the form of user surveys, or it might require getting the senior leadership on your side.

4 – They might not actually be stubborn
There’s a chance they’re stuck on a particular issue because their boss or other influencer has an agenda. As you discuss why they hold such a firm perspective, try to determine if someone else is at work behind the scenes. If so, you’ll likely need to address that person directly before progress can be made.

PMAlliance uses a team of highly experienced and certified professionals to provide project management consulting, project management training and project office development services.

Confronting Challenges by Adding a Project Management Consulting Firm to Your Team

There are many reasons that corporate executives turn to external consultants to provide project management support for their projects. The challenges that organizations face include: sub-par project performance, the potential for lost credibility, lack of experience with a particular project type, and a lack of internal project management practitioners. Project management consulting firms can supply experienced practitioners that offer high-quality solutions to the complex issues facing project teams. Here are six ways that project management consulting firms are making a difference with leading organizations.

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Remember The Rewards

There’s a lot work involved in the holidays—braving the crowds to finish shopping, getting the house clean for guests, hanging lights, and putting everything away in January—but everything comes with a reward (the perfect gift for your brother, a tidy house full of family, a home that twinkles, and a fresh start after the new year). Your project management team works hard, and they deserve some special rewards at this time of year, too. If you’re stuck for ideas, consider these.

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Going Beyond Mentoring

Mentoring remains an important way for project management professionals to expand their knowledge base (6 reasons-mentoring still matters), but sometimes your needs go beyond what a mentor can provide. We’ve outlined a few instances where a different kind of expert might have the information or expertise you’re seeking.

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LINsanity: How Jeremy Lin is Driving Project Management Success

Jeremy Lin, point guard for the New York Knicks, has taken the National Basketball Association, ESPN, and every social media outlet by storm. “LINsanity” has erupted to a level only rivaled by Tebowmania. From a relative unknown two weeks ago to the write-in All-Star weekend participant, MVP candidate, and leading jersey seller, Lin’s rise to superstardom has been a true phenomenon. The Harvard-educated point guard obtained a degree in economics, but we get a taste of Lin’s behind-the-scenes project management prowess by playing the hottest game on Twitter…name that LIN.

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Project Management : The Power of the Checklist

Good resource management keeps the project management consulting team running at full speed. Vendors and collaborators may change from project to project, and even from phase to phase, but checklists ensure your team knows the resources that are needed at any given time, and where to find them. Maintaining supplies, managing documentation and quickly locating a properly outfitted meeting space can all be facilitated through the use of checklists.

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Documentation Tips: Archival

At the end of each project, it’s important to ensure your documentation – including e-mails, invoices, contracts, schedules, diagrams and anything else related to the project – can be easily located, retrieved, searched and referenced later.

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Conducting a Useful Post Mortem Analysis

Once a project is complete, take some time to review what was successful and what needs improvement. By evaluating each project in retrospect, you’ll be able to apply the lessons learned to future endeavors.

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Software is a Tool, Not the Answer to Project Planning & Control

No matter what the job is at hand, great tools in the hands of a trained professional will lead to exceptional results. But what about providing great tools to an untrained person? Would you expect comparable results? The answer is a resounding NO!If this is true, then why do some people believe that having good project management software tools will make them good project managers and ultimately lead to successful projects? The missing variable in this equation is a sound project management methodology to guide them through the planning and control process. Engraining a sound project management methodology in your organization, supported by a suite of great tools, is the first step towards getting great project results.

Select a Sound Project Management Methodology

All projects have three major elements that need to be controlled in order for a project to be successful. Those elements are Time, Cost, and Quality. Time is measured by using a schedule, cost is measured by using a budget, and quality is measured by using specifications. Projects are only successful if they are completed on-time, within budget, and to specifications. If the project management system you have selected does not take into consideration all three of these elements then you will have a difficult time planning and controlling your project through its completion. Your project deadline, budget, and quality constraints will require you to make trade-offs in these three variables. A sound project management approach creates an opportunity to make better decisions about those trade-offs earlier in the process and thereby increases the probability of success.

Select Tools that Support the Chosen Methodology

There are many project management software packages currently available in the market today. Finding a software tool that quickly provides the information needed to analyze and make decisions for your project is not a simple task. While many project management software tools are good for planning the initial schedule, sometimes it can be difficult to update the schedule, change resource allocations, modify activity durations or change precedence relationships. Select a tool that has a friendly user interface, easily allows plan changes and supports your chosen project management methodology.

The PMAlliance Planning Process

A good planning process is made up of three distinct steps:

  1. Define the Project
  2. Develop an Initial Project Plan
  3. Compress the Schedule and Develop a Baseline Plan

Defining the project is the first step towards having a successful project outcome. During this step the project manager is selected and the sponsor(s) of the project is interviewed to determine exactly what he/she is expecting the project team to deliver. Once the project has been defined by the sponsor(s), the project team is assembled to develop the project charter. The charter should contain a short background statement, the expected deliverables, the project objectives, the list of the project team and sponsors, a list of key dates, and any assumptions, risks, and constraints that the project team can identify. In addition, the project charter should also contain the time-cost trade-off rate. This is defined as the cost to the organization if the project is finished late or the benefit if finished early. The time-cost trade-off rate is used to make cost effective decisions for compression of the project plan. Once the team is in agreement about the project’s scope, key personnel requirements, major constraints, assumptions, and risks, those items should then be presented to stakeholders for approval. By completing this process up-front, the project team will have a clearly defined (and understood) set of deliverables and an agreed-upon direction prior to making the investment in developing the project plan.The initial project plan is developed by the project team around the deliverables identified in the charter. The deliverables are broken down into work tasks (activities) through the development of a work breakdown structure. Once this is complete, the team needs to identify the task owners, durations and the precedence relationships. The precedence relationships are developed and documented using a network diagram. After the network diagram is developed, the project plan is entered in to the selected project management software for validation and schedule compression. Upon completion of the project plan compression and validation, a baseline of the plan is saved. The baseline plan is used to measure variance as the project is moved into the control mode.

The PMAlliance Control Process

The Control Process is the most important part of managing a project once a good plan has been developed. All projects should be updated on a regular basis, typically, every one to two weeks. The main objectives of project control are to:

  1. Gain an objective indication of the status of the project and key milestone dates
  2. Keep team members focused on the project and their activities
  3. Uncover and resolve any schedule-related problems
  4. Update the schedule to reflect the most current information about the project

The first step in the control process is to collect activity status information from the team members. The project plan should then be updated and the remaining activities should be rescheduled. The plan is then compared against the baseline plan and the variance is analyzed. If necessary, based on the update, the plan may need to be recompressed to meet the project deadline/key dates. The recompression is typically done with the project team. After the schedule has been recompressed, all team members need to reconfirm that they can meet the near term commitments for their assigned tasks. A project status report is then developed and distributed to the management and project team members. In some cases, a formal control meeting is held to communicate the update results directly to management and the project team members.

Conclusion

There are many good project management software packages available on the market today, but without a team that is well trained in sound project management principles that utilize a proven planning and control process, successful projects will be difficult if not impossible to achieve. Software is not the answer, a sound project management methodology is!

PMAlliance uses a team of highly experienced and certified professionals to provide project management consultingproject management training and project office development services.

A Phased Approach to Project Management Implementation

Implementing a formalized project management process in an organization that does not have a history of using a structured approach to project planning and control can present significant challenges. A phased approach to implementation is a crucial element of a successful implementation strategy because it helps overcome resistance to change, allows lessons learned in early phases to be incorporated in the systems installed in later phases, and ensures that a solid foundation of project-level data is available prior to rolling-up enterprise-level information.

Resistance to change is a well-documented phenomenon. And, we know from experience that the implementation of structured project planning and control techniques is a substantial departure from the norm for many companies. Therefore, resistance to change with respect to project management is something that should be expected (and even planned on). A phased approach to implementation can help overcome this resistance by allowing an organization to create success stories, provide the necessary communication (downward and upward), and build momentum prior to rolling-out the process to the general population. By taking a phased approach, we can dramatically increase our chances of acceptance by the organization and reduce the probability of a “program-of-the-month” fiasco. A project management system must be tailored to the organization. A “one size fits all” approach has a low probability of success because it does not recognize differences in project types, management and staff capabilities, and organizational culture. A phased approach to implementation allows time in the initial phases to gather first-hand information about project characteristics, personnel, and cultural nuances. Then, based on this information, a project management system can be designed and a roll-out plan crafted that maximizes the prospects for success.The later stages of implementation are focused on providing the enterprise-level tools that allow an organization to gain visibility to project schedule, resource, and cost information across the entire portfolio of projects. This information can be used to optimize business decision making given that there are constraints related to limited resources, limited budgets, and project priority. Unfortunately, enterprise-level decision making must be based on solid project-level information, otherwise, the decisions that are made may not be correct. A phased implementation approach allows time to ensure that sound plans for all individual projects are created prior to rolling-up enterprise-level information. Also, enterprise-level tools can represent a substantial financial commitment. A phased approach can coordinate the timing of the investment in these tools with the point of maximum usefulness.

The Four Phases of Project Management Implementation

PMAlliance utilizes four phases for the project management implementation process: Initiation, Project-Level Installation, Enterprise-Level Installation, and Maintenance. A description of each phase follows.

1. Initiation Phase

The purpose of the Initiation phase is to mobilize the organization, remediate any current at-risk projects, and set the stage for the Installation phases. Time is of the essence in the Initiation phase. Management “cracks the door open” with the organization by endorsing the process at kick-off and requesting the support and participation
of all employees. However, from the moment of kick-off, employee patience and willingness to participate is in jeopardy until success stories have been created and communicated. This is perhaps the riskiest of all of the phases of implementation because even small failures at this stage can fuel the arguments of naysayers, substantiate the fears of those employees “sitting on the fence” with respect to project management, and dissipate any momentum created by management during the kick-off process. For these reasons, the Initiation phase includes the selection of pilot projects that have the potential for near-term of successes and great emphasis is placed on creating and communicating those success stories to the organization.

2. Project-Level Installation Phase

During the Project-Level Installation phase structured project planning and control processes are implemented on all targeted projects, the project management infrastructure necessary to support the consistent, successful application of project management techniques by the Project Office on future projects is created, and Project Office staff are trained and mentored.

3. Enterprise-Level Installation Phase

The Enterprise-Level Installation phase creates the infrastructure necessary to support business decision-making based on schedule, resource, and cost information “rolled-up” from the entire portfolio of projects and transitions the day-to-day responsibility for developing and maintaining individual project plans to the Project Office staff.

4. Maintenance Phase

The purpose of the Maintenance phase is to transition the responsibility for supporting all of the project management requirements of the organization to the Project Office staff and to ensure long-term continuity by establishing project management as a core competency and an essential function within the organization.

Conclusion

In today’s economic environment it is absolutely
essential to ”get it right the first time” when it comes to making organizational changes. A phased approach to implementing project management can dramatically increase the probability of success because it helps to overcome resistance to change, creates an opportunity to incorporate lessons learned into the design of the project management infrastructure, and ensures that high-quality enterprise-level information is available to major stakeholders.

PMAlliance uses a team of highly experienced and certified professionals to provide project management consultingproject management training and project office development services.

The Project Office (PMO)

Companies today increasingly recognize that, with respect to project management, they must advance beyond the ability to create occasional success stories through the exertion of heroic effort. They know that a core element of their overall success is driven by the ability to consistently bring their entire portfolio of projects to successful completion: on-time, within budget, and per-specification. In addition, they know that if they can cost-effectively accelerate the delivery of their new products and services (without sacrificing quality in the process) they can create a strategic advantage over their competitors.
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