1. Read the report “2015 Pulse of the Profession. Capturing the Value of Project Management” by PMI mentioned in the What Went Right section, page 194 of the 8th Edition of the book. Summarize the key points on this study and your opinion of it. Describe some specific steps organization can take to provide a supportive culture for project management.
GETTING THE FUNDAMENTALS RIGHT
In the report “2015 Pulse of the Profession: Capturing the Value of Project Management”, it is mentioned that the Pulse study shows that the organizations are focusing on the fundamental aspects of culture, talent, and process that’s supports excellence in project, program, and portfolio management.
Is the most effective organization recognize the need for formal project management in their “change the business” initiatives. Creating a culture that embraces project management and increases the business value it delivers involves:
> Fully understanding the value of project management
> Requiring actively engaged executive sponsors on projects and programs
> Aligning projects and programs to the organization’s strategy
> Having highly mature project, program, and portfolio management
Is a key factor in fostering a culture that values project management is understanding the importance of skilled talent.
Pulse research has confirmed that organizations can clearly benefit from maturing their project, program, and portfolio management processes, and that process maturity leads to success.
From capturing lessons learned to easing the impact of losing experienced staff, knowledge transfer represents a critical — but often undervalued — organizational competence. For knowledge transfer to become routine but effective, it must be culturally embedded.
Risk management is at the heart of project management. Any number of risks can befall a project and drive it off course, often through no fault of the project team. Such risks are not fully predictable, but with effective risk management practices, potential damage can be mitigated.
Organizational agility is the ability of a business to respond and adapt quickly in response to changes in the market or other parts of its external environment. These include the emergence of new competitors, disruptive technologies, or sudden shifts in overall conditions.
1. Respond quickly to opportunities
2. Shorten decision/production/review cycles
3. Manage change
4. Integrated the voice of the customer
5. Manage risk
6. Assign interdisciplinary project teams
7. Eliminate organization silos
8. Implement contingency planning
9. Use iterative project management practices
10. Leverage technology
Benefits realization illustrates and measures precisely how projects and programs add true value to the enterprise. Organizations that implement benefits realization programs understand this value, because they are capturing the hard facts needed to showcase the return on their project management investments.
Organizations with mature benefits realization processes can benefit from:
1. Clearly identifying the strategic rewards prior to standing a project.
2. Effectively assessing and monitoring risks to project success.
3. Proactively planning for making necessary changes in the organization.
4. Explicitly defining accountability for project success.
5. Routinely extending responsibility for integration to the project team.
1. Perform a financial analysis for a project using the format provided in the book (IT Project Management, Revised 6e). Assume that the projected costs and benefits for this project are spread over four years as follows: Estimated costs are $200,000 in Year 1 and $30,000 each year in Years 2, 3, and 4. Estimated benefits are $0 in Year 1 and $100,000 each year in Years 2, 3, and 4. Use a 9 percent discount rate, and round the discount factors to two decimal places. Create a spreadsheet or use the business case financials template on the companion Web site to calculate and clearly display the NPV, ROI, and year in which payback occurs. In addition, write a paragraph explaining whether you would recommend investing in this project, based on your financial analysis.
1. Develop an outline (major heading and subheading only) for a project management plan to create a Web Site for your class, and then dill in the details for the introduction or overview section. Assume that this Web site would include home page with links to a syllabus for the class, lecture notes or other instructional information, links to the Web site for the books that we are using in the class, links to other Web sites and all links to personal pages for each member of your class and future classmates. Also, include a bulletin board and chat room feature where students and the instructor can exchange information. Assume your instructor is the project’s sponsor, you are the project manager, your classmates are your project team and you have three months to complete the project.
1.2 Subject Syllabus
2.0 CLASS INFORMATION
2.1 Regular students
2.2 Irregular students
3.3 Power point presentation
4.4 Computer Laboratory act.
5.0 STUDENTS AND INSTRUCTOR CONSULTATION
5.1 Chat room
6.0 RETURN HOME
2. Write a short paper based on the chapter’s opening case. Answer the following questions (Information Technology Project Management, 7e, page 140, Opening Case):
A.) What do you think the real problem was in this case?
>The real problem is the top management that promote Nick Carson as a Project Manager.
Nick Carson is a Software Developer but yes, he can finish the project on time but the problem is the documentation of the project because being a project manager is not in his capability.
B.) Does the case present a realistic scenario? Why or why not?
> Yes, people have their own skills like Nick Carson, he is skilled in programming that is why he is in a field of software development.. We choose our profession based on our skills and abilities..
C.)Was Nick Carson a good project manager? Why or why not
>No. because he can’t do what a project manager must do.
D.) What should top management have done to help Nick?
> The Top Management should help Nick by giving him more ideas about the Project management.
They can provide special training for Nick.
E) What could Nick have done to be a better project manager?
>Study Project management.
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