Project Bonuses: Baloney or Valuable?
Projects are all about people, and when people perform, the project performs. People need incentives to engage. There is always a reason – even if they are unaware of it. Many companies employ bonuses and incentive schemes to “get employees’” attention, and to get them to perform optimally. But does it work? If is does, why are so may projects still failing? Why does so many incentive schemes fail to result in the behaviour we want as managers?
A recurring theme in delivering successful projects is stakeholder’s management. A key Management skill requisite to undertake the daunting task of management is Negotiation. Project managers unwittingly negotiate daily activities without being conscious of it. They conduct negotiation with clients at inception, service providers at the selection, vendors at execution and beneficiaries at closing, therefore the management of these activities could either make or mar the entire process.
While most project managers try their level best to manage their stakeholders to the best of their abilities, we often find that stress of meeting deadlines, disagreements on deliverables and other personal conflicts on challenged projects put considerable strain on working relationships. Speakers will present techniques, which allow stakeholders to interact with each other in an environment which allows free flow of ideas.
The Project of Sustainability
The role of Project Management in developing a more sustainable economy and society
This project investigate the role of the Project Management (PM) profession in developing a sustainable economy.
Sustainability has acquired a growing strategic importance over the last 10 years bringing with it a requirement for changes in traditional practices and paradigms of production for its successful implementation. These changes are typically managed as projects and delivered by dedicated project managers, that are assumed, have the knowledge and skills of a project. As such project managers, through their distinctive roles, skills and competences occupy an important position in accomplishing sustainability, but little is understood about how they do this.
This will focus on how sustainability is incorporated in PM discourse and practice by studying: how the profession makes sense of sustainability, and also sustainability in practice.
Business Development (BD) is a permanent organizational functional business unit that captures new business opportunities and manages proposals to turn them into actual contracts. Project Management (PM) is usually utilized to execute the contracts successfully, hence earning the full revenue and making profit for the organization. Winning proposals and then implementing them successfully makes clients happy and wanting to return, but to get the shareholders to be happy requires profit generation. The lack of collaboration and cooperation in a timely manner during the inception phase of projects is critical and might cause the organization to win rather non-profitable projects. Organizational leaders might be paying for the same mistake more than once.
Oil & gas projects have typically been justified by traditional economic indicies such as NPV etc all focusing on how quickly the project can be matured and what revenues will start accruing thereafter. However this standard process misses an important step – how can we ensure that while we are maturing this project, we are creating sustainable links to all relevant sectors so that the economy can grow holistically? This presentation will discuss local content as that important link and examine various ways we can mature the project while ensuring that the relevant local supply chain value links are incorporated. Governance structures to assure this are also discussed as well as lessons for the future & next steps for African and other emerging economies.
The belief that project management processes hinder innovation, and slows down product development is a valid argument. Whether waterfall, agile, or hybrid methodologies are applied in support of product innovation and development, the challenge for companies to go-to-market quicker than the competition, remains a reality, whilst delivering fit-for-purpose market requirements.
A solution converging the best of both worlds (project and product management) into a single framework has been implemented in a complex organizational matrix.
An important element of the proposed framework is to not primarily over-focus on the internal business processes and systems, but the optimal framework is driven by customer-centric requirements.
The consultancy service is always identified by the standard systems they implement to conduct their job, these standards used as index in the classification of any consulting service, the success of any project is related to the standards used by consultant when managing the project. Sudan construction industry is facing several problems and challenges mainly in project management in consultancy service. The data collected about the factors that lead to success in project management standards implementation in MMC was examined to be reliable and valid according to the statistical test. Thirty-four (34) factors that affect the construction projects and used to measure the success of the projects were gathered. This paper aims to present an overview on the topic of implementation of project management standards and identify main success factors when dealing with projects.
An anecdote making rounds indicates that an African, a European and an Asian met in Harvard as undergrads and became very good friends. A couple of decades after graduation, all of them, being high-ranking government officials in their respective countries met in the country of the Asian and were feted by the Asian. The European and African acknowledged the Asian’s prosperity in his lavish personal estate and enquired how he made it. He indicated that he had over the years increased his shareholding in a couple of construction companies that were now in the Club 100 of his country. That same year the friends also happened to be in the country of the African and the Asian and European similarly enquired how their African colleague acquired and maintained his obviously lavish estate and lifestyle. He indicated that he had been involved in numerous projects over the years and had ensured payment of what was due him as a finder or facilitator irrespective of success or failure of any of the projects. In the light of the above and research findings that power tends to corrupt, no matter how honest individuals are deemed to be at the beginning, this paper seeks to highlight a few issues and recommendations regarding governance and ethics in project management within the project manager’s interaction spaces of the private individual, the corporate sector (organizational level) and the public sector (government).
It is a known fact that without stakeholders, there is no project; but more importantly without effective stakeholder management, there is no successful project. Since stakeholders are the heart of every project, they should be the focal point of all the decision making models within the lifecycle of the project. By convention, IAE means “In Any Event”, however for the purposes of this discussion, IAE means Identification, Analysis and Engagement of all the stakeholders within the project. For the project to be successful, all (or majority of the) stakeholders impacted must be carefully Identified; their interests, needs and influences must be rigorously Analyzed; and lastly these stakeholders must be effectively Engaged throughout the course of the project to ensure that their needs are met. At the end of this discussion, you will realize that the conventional definition of IAE has been adopted because In Any Event, the project is always about the stakeholder, since a happy stakeholder always makes a happy project!
The pace of change increases everyday around the world. Competition for limited resources, globalization, high level of innovation, complexity and lack of transparency, among others, place a heavy challenge on the ways organizations carry on business, including the practice of project management. Practitioners need to focus, voluntarily embrace and implement (EVM) as a veritable and key part of their toolset for project execution for greater business results.
The emerging markets and the fast growing economies in Africa are driven by various projects, programs and portfolios across the continent. Experience has however shown that most of these projects are hardly sustainable and therefore not creating the intended impact as per the description in the project scope. Based on one of the earliest definitions of sustainability as given by what is known as the Brutland Commission, Looking at what really could create sustainable development in an African context, the presenter came to the conclusion that sustainable projects in Africa should be based on two main guiding principles:
- Projects should integrate the traditional values of the local community into their management systems.
- Developmental projects should be “an upgrade” of traditional natural set-up of the local community.
Egypt is experiencing a serious energy crisis due to the high electricity demand. The Egyptian government decided to make an expansion plan for the electricity infrastructure by investing in construction of new power plants. Project management has been considered as mandatory and essential for projects and as a competitive advantage for the organizations over its rivals. This research provides a framework for creating value through the power generation construction organizations by tying tangible and intangible assets to work together through cause – and – effect links. The proposed framework is driven based on Strategic Business Map model which is a business model that approaches organizations holistically to provide better understanding and alignment with the internal and external environment in which the organization operates, ensuring efficient implementation of the organization’s strategy. The model helps construction organizations working in power generation sector in Egypt to improve their performance by improving their policies. Also constructed interviews with construction professionals took place to validate the causal relationships between the variables of the model, and to discover the level of influence of the model’s variables on each other. The model fills the managerial gap between strategic management and project management, in an effort to aid managing projects as business units contributing to the organization’s overall business objectives. A case study is presented to demonstrate the use of the proposed dynamic models. Its findings reveal that investing in the organization’s human capital and embracing a strategy based on shared commitment improves the organization’s overall performance.
Various research studies document the negative impact of corruption on the GDP per capita, or put in another way, the strong correlation between Economic performance in terms of GDP/Capita and Corruption Perception Index (CPI). The related retro-causal observation that Economic development reduces corruption is also proffered in the research papers.
A casual observation reveals that the cluster of countries with low corruption perception (recorded as high CPI), high levels of GDP/capita, and high scores in Ease of Doing Business Index (EDBI) is the same cluster reported with high levels of Project Management (PM) certifications and hence high levels of innovation as indicated by the Global Innovation Index (GII). This cluster is mainly in North American and the Western Europe/European Union (WE/EU) blocs. The reverse is observed for every one of the selected metrics/indeces, for the Sub Saharan African (SSA) cluster.
If high levels of PM certifications are taken to represent high standards of project governance, can it be concluded that high levels of PM certifications, inter alia, result in high levels of corruption mitigation? If the answer is proven to be significantly ‘yes,’ then it means that PMI Africa needs to advocate for SSA governments to put in place public policy measures which ensure high standards of Project Management governance in their respective countries.
In recent years, project management is used a strategic tool in a competitive business environment. Maturity in project management is the development of systems and processes that provide a high probability of project success. Project management maturity is a measure of how well a business can effectively conduct its project and can be explained using the term “project management capability”. Firms with higher project success would be those having higher project management maturity and vice versa. There is empirical evidence to indicate that there is a positive relationship between project management maturity and project success. Organizations tend to benefit when it takes measures to upgrade its project management maturity.
Several driving factors for project management maturity have been identified to include capital projects, customers, expectations, efficiency and effectiveness among others. It is commonly perceived that service organizations like financial institutions less frequently engage in project management and therefore have low project maturity levels. In non-project-driven organizations, capital projects are the driving force for project management maturity. Financial institutions support capital projects and therefore project management maturity is a recipe for success. This paper assesses and compares the project management maturity levels of local and foreign commercial banks operating of in Ghana and attempts to relate project management maturity to organizational performance.
Africa’s future hangs on the quality of decisions its leaders make daily, the soundness of project delivery and the operational assurance of desired outcomes. Project, program & portfolio management become key to socio-economic growth when they ensure intelligent solutions to problems, the choice of high value and aligned projects, consistent project deliveries and optimal operations. This is the mission of well-groomed strategic project offices, which would only excel sustainably within a framework of sound governance.
Business and organizations need to undertake projects to innovate, comply with regulations; and compete successfully. It therefore follows that they need to identify the right projects and execute them in a manner to ensure delivery of preferred business results. Projects often involve the interaction of complicated processes and relationships – a powder keg for conflict.
Conflict has been variously defined as ‘being incompatible’; ‘at variance’; and even ‘a serious disagreement’. It is therefore perceived as negative and often interpreted as a distractive and destructive force in the march towards project delivery. In this apparent turbulence lies the gem of diversity, creativity and excellence.
Obviously birthed by disagreement, conflicts can potentially improve the outcome of a project if their creative aftermaths are efficiently harnessed. This is because they offer multiple perspectives on issues and afford teams the opportunity to find the most effective and efficient way to achieve project success. It can be argued that the absence of conflict in a project may spell doom as creative alternatives may be ignored.
Chapters with branches are often managed in a virtual team structure. For example, the French chapter board is composed by 12 people coming from 5 different geographic areas. It is not possible to meet each other regularly on a face-to-face basis.
Like for companies it makes it difficult to have an efficient collaboration among all team members. Consequences are often unnecessary conflicts between the volunteers, leading to mistrust and frustration.
The Virtual Team Maturity Model (VTMM) assesses virtual team processes, provides feedback where are the strengths and areas of improvements of the virtual team performance based on KPI’s. Also VTMM suggests, how the virtual team can quickly improve its performance. The model has been developed by Ralf Friedrich within his PhD-research and made available to the public through vtmm.org,
Project management principles, tools and techniques used by organizations or project managers originate from projects in the field of engineering, construction, architecture, and the likes. The PMBOK® provides a guide for use by project managers as they manage projects of different complexities and sizes worldwide. These professionals gain certifications that show their competence levels in applying these skills, tools and techniques in managing projects.
The definition of a project by the PMI® as a temporary endeavour that has a defined beginning and end in time, and therefore defined scope and resources, means that, aside “big projects”, project managers are faced with engaging in “smaller projects” as they undertake various tasks in their everyday lives.
This paper seeks to investigate the extent to which certified project managers within the PMI-Ghana Chapter, apply these skills, tools and techniques that they apply at “work” to the big projects that they manage, to the “smaller projects” that they find themselves having to manage in their everyday lives.
It goes a step further to investigate if people who are not certified project manager apply some of these skills, tools and techniques, without realizing that they are actually managing projects. The purpose will be to conclude on how a certification in project management makes people apply its skills, tools and techniques, or not to everyday “small” projects.
This paper presents real work experience and findings from a project executed for a company in the Energy Industry. It begins with the case and introduces the problems faced by the client. A clear description of the expectations and terms of reference are presented. A critical attention is then switched to the steps and actions taken to execute the assignment. In the processes, the paper addresses and shares the knowledge and tools used in a practical manner to ensure participants understand and are able to relate to it in order to apply in other context when faced with such situations. Key areas the paper addresses include: objectives alignment to strategy, insights on process reviews & alignment, new process development & considerations and process change management.
There are many causes of projects failure. Sometimes, what lead to failure are things outside the project manager’s control. Other times, the things that lead to failure are within his/her control.
This presentation concentrates on what project managers can control.
More often than not, project managers underestimate cost and duration of projects, do not perform risk management, or fail to use WBS for planning. This is not because they intentionally want to damage their projects, rather, they are making common mental mistakes, which can be avoided through proper analysis.
These mental mistakes (Illusions) often cause costly damages, not just to our projects, but also to our reputations as project managers.
This presentation will address a major illusion that affects project managers.
This major illusion is called Selective Perception (“What I see is what I want to see”) - confirmation bias, professional viewpoint effect and premature termination of search for experience.
This presentation will provide the participants with practical steps on how to deal with the above examples of project illusion.
Effecting Communication: Knowing your 7C’s
Communication is a part of our daily lives, as project managers, we spend 90% of our time communicating. How we communicate, what we communicate as well as when we communicate all affect the outcome of our expected results. Have we as project managers taken pain to answer all the questions that can make us effective and efficient communicators?
This session, will remind us of the key facts we always need to bear in mind when communicating.
Key aspects of project management practices in the construction industry require that projects are managed within time and cost. The collapse of buildings in Ghana in recent times has become very alarming, resulting in the killing of innocent people, infringing permanent disability on many and destroying properties. Between 2012 and 2016, Accra, the capital city of Ghana, officially recorded five major building collapses - Melcom building, Grand View Hotel building, Central University hostel building e.t.c - that claimed a total of 19 lives. Dogbegah (2009) suggests that projects completed should be reviewed and lessons learnt documented and incorporated in the next project to avoid repetition of mistakes. In a study on the impact of research (including project management research) on public policy and institutional as well as individual learning in the construction and real estate industries, we find little evidence of research impact. Inadequate formal learning from the failures and success of project management practices may be contributing to the increases in the collapse of buildings and the general underdevelopment of the construction and real estate industries in Ghana.
Every project manager should have an overall strategy on every project and even adapt the strategy to individuals and also groups of stakeholders.
Stakeholder management is part science part art. It a very challenging subject because every strategy will have to be adapted heavily depending on the environment, culture, industry and organization.
It is important for every project manager to manage stakeholders with either of the following perspectives
Active Stakeholder Management, Reactive Stakeholder Management, Leading Stakeholder Management and Lagging Stakeholder Management.