Description
Keywords
Contents
The discipline of Project Management for Family Business
INTRODUCTION TO PM
GOALS
At the end of this module you will be able to:
01 Familiarize with the discipline of Project Management and Project Cycle
02 Grasp the essentials of a successful project
03 Breakdown the core structure of a Project Management Plan
04 Look into powerful recommendations for HR in Project Management
What is Project Management (PM)?
Why should FE even bother to deepen their understanding of the PM discipline?
In the context this training unit, we will introduce targets to the discipline of PM as an approach, rather than a mere discipline.
This focus on PM, will allow readers to be much more proficient, effective and efficient in designing, developing and deploying their strategic plans(s) for economic growth and business competitiveness.
We will extrapolate the defining elements of PM, the core responsibilities of a project manager and what distinguishes a “projects” from a “process”.
Seeking a definition of PM
In the context of this training programme, we will refer to PM following the definition coming from the International Association for Project Management:
"PM is the application of processes, methods, skills, to achieve specific project objectives (deliverables) within agreed parameters (finite timescale and budget)"
Final deliverables and finite timescale are actually the two elements distinguishing PM from the general discipline of Management.
In Management, the process is on-going and rather than final deliverables it is more appropriate to talk about final outputs that will be reinvested as new inputs informing and kick-starting new management cycles.
Defining features of a project
Source: Project Management Institute
PROJECT vs PROCESS, distinguishing elements…
PROJECTS |
PROCESSES |
• Defined lifecycle• Planned schedule• Allocated resources• Unique / Innovative• Trans-functional• Dynamic |
• Ongoing flow of activities and tasks• Continuous and routine process• General budget resources• Ordinary administration• Mono-disciplinary• Static |
The PM’s ecosystem
• Time (Start date → Intermediate deadlines → Milestones → End date → Follow-up)
• Results (Qualitative and Quantitative)
• Resources (i.e., Technologies, Human Capital)
• Entrepreneurial approach (i.e., sense of initiative, resilience, etc.)
• Team (i.e., Project Manager + project team)
• STKH (i.e., Support team(s), third parties and groups of interest)
Three pillars of PM
Intertwined variables: a change in one variable will inevitably affect the others.
Source: Own elaboration
PM as an approach: what implications for FE?
• PM as an approach becomes a mind-set that applies transversally and horizontally for TQM (total quality management) and JIT (just-in-time) efficiency and effectiveness.
• PM as an approach is a “performance mentality” of complex and interrelated activities.
• PM as an approach provides for a better, more robust and more reliable entrepreneurial framework to work in an ever-changing, unstable and ambiguous environment.
What do we mean by successful project?
A project that is in full compliance with:
…about the Project Manager
Contrary to common opinion, the Project Manager profile has a predefined status in the organisation chart.
Project Manager is how’s responsible for the given project (i.e., the engineer, the HR, etc.) and its successful completion.
The Project Manager – and his/her team – sets:
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PROJECT’S LIFECYCLE
General framework
The traditional project’s lifecycle composes of five stages:
DESIGNING
The design phase is when Project Teams collect and gather together needs / opportunities tackled by the project…
Project teams take opportunity of this moment to brainstorm internally on:
• Project’s background and ratio
• Specific objectives
• Needed resources by quality (financial, human, technological)
• Work plan and timeline (i.e., initial draft of the Gantt Chart)
• Identification of STKHs of relevance and interest for the upscaling of the project
At this moment, we prefer to talk about “project proposal” as there is not yet a concrete project to manage but just ideas on its overall structure and implementation.
PLANNING
The planning phase involves a more concrete structuring of the management implant:
preparation of the Statement of Work (SoW): formal document for a comprehensive and detailed introduction to the project as designed in the planning.
EXECUTING
…in other words, the executing phase translates into getting the work done:
CONTROLLING
In theory, the controlling phase is a stand-along project’s lifecycle.
In practice, control and evaluation is a trans-dimensional and “fluid” set of activities that teams put in practice at any given development and implementation moment of the project.
The control starts form the very design of the project, when project’s manager evaluate the relevancy of the project compared to the underlie objective, or when they start building the project team based on the specific expertise and know-how that are needed.
Control, monitor and evaluation are paramount to project’s success and efficient / effective mobilisation of resources. Changes in plans are almost inevitable, what makes the difference is how this changes are handled, not only so as to be as less disruptive as possible, but also to maximise the potentials benefits emerging from them.
CLOSING
In the closing phase, the Project Manager and his/her team gather together to discuss key takeaways and lessons learned form the project. In fact, the closing phase represents firstly and foremost a unique training and education opportunity for continuous improvement and consolidation of good practices.
At this moment, controlling and evaluation is in the form of a summative evaluation – the so defined post-mortem – of what worked and what didn’t in terms of:
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DESIGN AND PLAN
The Kick-start of activities
After establishing common understanding on background and objectives of the project, the project team moves on by developing two formal documents that will orientate and guide their actions in the future period:
• Statement of Work (SoW)
• Project Management Plan (PMP)
Statement of Work (SoW)
The SoW is the formal project management document detailing actions, tasks, and final results (deliverables) performed by the project team for the benefit of another person / group of people.
The SoW proves and gives concrete references for the operational, technical and financial capacity of the team implementing the project.
In case of large-scale initiatives, the SoW is a preparatory document that organisations submit to access tenders and other kinds of exclusive contracts.
The SoW resumes what the project implant will be in terms of:
Content of the SoW
In general, the table of contents of a SoW highlights:
The ratio of the SoW
The SoW pinpoints the relevancy of the project proposal and legitimise the formal request for its funding.
In the SoW, the Project Team discloses indications on:
• WHY this project is relevant (and should be financed)
• WHAT will be done during development and implementation
• WHEN major results will be delivered / publicly available
• WHERE actions will be performed, and where results will have an impact
• WHO is in charge of what, who will benefit from the project, who will make use of it.
The Project Management Plan (PMP)
The SoW gives in-depth indications on what will be done / achieved by the projects during its implementation period…
…but the specific details how this will done are disclosed by the Project Management Plan.
The PMP specify to the Project Team key guidelines for the implementation of the project in terms of:
The sine qua non of an effective PMP
The table of content of a PMP is not set in stone…depending in first instance by its scale and scope.
In general, the avarage table of contents of a PMP indicates:
• Description and introduction to the project
• Participating Staff / organisations
• Internal and External Communication strategy
• Financial management and means for budget control
• Quality Assurance – methodology and frameworks
• Risk Management: identification → assessment → evaluation
• Sustainability and impact assessment
Description and introduction
In this section we will include:
People involved within Project Team
In this section we will include:
• Brief presentation of the staff: position, roles and expertise
• Collaboration and cooperation mechanisms
• Means and procedures for conflict resolution
• Distribution of roles and responsibilities
• Overall background and expertise of people involved (how can this project benefit from their involvement?)
• (for large-scale initiatives, composition of Project Management Committee which will supervise the implementation of tasks and commitment to Quality Assurance standards)
Internal / External Communication Strategy *
In this section we will include:
• Detailed strategy for:
STKHs identification
STKHs engagement
STKHs management
* Please check IHF’s module for further details on communication and visibility
Financial management
In this section we will include:
• Internal reporting: means and internal deadlines
• Financial and administrative committee
• Support documentations
• External audit authority (if any…)
• Miscellaneous (anything that contributes to assure for a sound budget control)
Quality Assurance (QA)
In this section we will include:
Risk Management
In this section we will include:
• Very precise and punctual mapping assessment of risks that might have a negative impact to the smooth implementation of the project
• Assessment matrix ** of risks previously identified based on their:
LIKELYHOOD – Their probability to happen
IMPACT – How disruptive they would be in case of happening
Assessment Matrix **
IMPACT (>) PROBABILITY (v) |
Negligible |
Marginal |
Critical |
Catastrophic |
Certain |
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Likely |
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Possible |
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Unlikely |
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Rare |
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NASA, Goddard Space Flight Center, Goddard Technical Standard GSFC-STD-0002, Risk Management Reporting
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GOOD PRACTICES
The evergreen principle for effective and efficient PM
In the context of this training unit, we will share with participants few paramount good practices that should assure for a smooth and impactful project’s implementation.
These tips and tricks relate essentially to the mind-set and framework that Project Managers should adopt to make their life a bit more easier…
The very first key takeaways we wish to recommend you is to:
COMPLEXITY vs COMPLICACY
There is a huge conceptual difference between a complex and a complicated project.
→ Complexity is not synonymous of difficulty, complex projects are in fact:
• Lean
• Clear
• Straightforward
• “no room” for misunderstandings
A project is Complex when variables are interrelated on a multidimensional level so as to produce and generate favourable results (as expected by plans)
→ On the other hand, a project becomes “complicated” when project managers loose track of the cause-effect relations within the project’s diagram – or when in phase of implementation the project becomes abundant in redundancies and overlapping.
How to avoid being complicated?
Here below a series of essential golden rules for better KISS compliance:
How to breakdown the work structure? The Russian doll-approach
Tips for budgeting and cost structure
The budget indicates the quality and quantity of resources needed to develop and implement the project. In reference to the underlie financed activity, the allocation of finances follows three criteria:
PEOPLE TECHNOLOGIES TIME*
*The only resource you cannot have an impact on…
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AWESOME!
AWESOME!
Remember (now you know about):
01 Project Management: content and good practice
02 Project lifecycle: from idea to implementation
03 Framework of reference for managing risk
04 Recommendations for a successful project
FINAL TEST
Bibliography
Project Management Institute, https://www.pmi.org/
Practice guide: https://www.pmi.org/pmbok-guide-standards/practice-guides