Project management audio blog featuring monthly interviews with the most seasoned and recognized practitioners, thought leaders, project managers, and executives on industry-specific business problems to help C-level executives achieve success.
(Rebroadcast) Many organizations are faced with the reality of balancing their portfolio of projects. Depending on the level of investment of time and money, both projects and their associated stakeholders are continuously competing for face time to meet their own agendas. Interestingly enough, senior project managers have expressed concerns comparing the ROI calculation of new projects versus those later into their lifecycle. In fact, new projects at the beginning of their lifecycle often are projected at the 75%+ ROI in contrast to the more mature projects estimated at a 10%-15% ROI. It’s no wonder that organizations and project managers want to move on from older, mature projects and pursue new ideas. Project portfolio management (PPM) as a discipline and the emergence of PMOs have gained momentum in recent years in project-centric organizations to help prioritize projects and keep them on course.
For industries in which the development of new products is the life line of their organizations, PPM methodology has always been a critical component to their business. This is especially true for organizations in the Consumer Packaged Goods (CPG) industry that may have dozens of products at one time at different stages in their development. Every product is treated as a project, and with the complexity of each product the time and resources invested have challenged organizations in their ability to separate the good from the bad that lies within their portfolio of projects.
In this episode, Wayne Thompson will be talking to industry insider, Hugh Woodward, who has over 35 years of project management experience in manufacturing, construction and IT. Hugh will be sharing with us his war stories and insights of project portfolio management in the consumer packaged goods industry and the challenges of choosing between investments in scheduled or existing projects and new ideas.
Music Notes
1. Interview with industry insiders – "Yearbook” 2. The closing of the episode – “Greasy Wheels”
Although it is true that Project Management Offices (PMOs) need to adapt to the unique needs of the businesses they serve, it is more important that the leaders of PMOs gauge the true function of their existence. In many cases, PMOs get lost in a siloed role delivering their value to solely the group(s) or department(s) they serve without taking into consideration their impact on other overlapping entities that may affect the business as a whole. In this episode we continue our look at the unique character of the role of the PMO in consumer goods companies and how the highly competitive nature of this industry can leverage its value.
Today we are continuing with the second part in a two part series examining how project management offices provide the necessary visibility for success in consumer goods companies. To do this we continue our conversation with Hugh Woodward.
Hugh Woodward is an industry insider, who has over 35 years of project management experience in manufacturing, construction and IT. He served two terms as Chair of the Project Management Institute and almost six years as a member of PMI's Board of Directors. Today Hugh will be sharing with us his insights and experiences of using project management offices in the consumer goods industry.
Many thanks to everyone who participated in the first drawing to win a netbook. Due to its success, we are pleased to announce that we will be giving away more netbooks between January and June of 2010. To register for your chance, please go to our website, www.pmwarstories.com and click on the hyperlink for the Netbook Contest displayed in the sidebar. Members are limited to one entry per month so don’t forget to visit our site and complete an entry form today. Good luck and thank you for listening.
If you would like to learn more about PMOs, project offices, Oracle Primavera, or managing projects in a manufacturing environment, then check out our monthly internet radio show available at www.pmwarstories.com or through apple itunes.
Music Notes
1. The opening of the show – “Investigation” 2. Interview with the industry insider – “Kickflip” 3. The closing of the show – “Yearbook”
Project Management Offices (PMOs) have been traditionally viewed as a horizontal discipline that can be applied to any project-centric organization. Although the basic principles a PMO can deliver are universal, each and every PMO needs to look at the unique requirements and challenges of the vertical industry they are serving in order to fully deliver the value of its role to an organization. In this episode we look at the unique character of the projects implemented by consumer goods companies and how the highly competitive nature of this industry views the role of a project management office.
We are pleased to announce that this is the first podcast in a series on project management offices, sponsored by Oracle Primavera. Today we are examining how project management offices provide the necessary visibility for success in consumer goods companies. To do this I’m sitting down with my friend and colleague, Hugh Woodward, in a two part interview.
Hugh Woodward is an industry insider, who has over 35 years of project management experience in manufacturing, construction and IT. He served two terms as Chair of the Project Management Institute and almost six years as a member of PMI's Board of Directors. Today Hugh will be sharing with us his insights and experiences of using project management offices in the consumer goods industry.
Additionally, I am pleased to announce that we are giving away a netbook to one lucky member of our community. To register for your chance, please go to our website, www.pmwarstories.com and click on the hyperlink for the Netbook Contest displayed in the sidebar. Members can only enter once per drawing and entries must be received by 11pm eastern standard time on Thursday, December 17, 2009.
If you would like to learn more about PMOs, project offices, Oracle Primavera, or managing projects in a manufacturing environment, then check out our monthly internet radio show available at www.pmwarstories.com or through apple itunes.
Music Notes 1. The opening of the episode – “Two Seater” 2. Interview with industry insiders – “East Ender” 3. The closing of the episode – “Electric Rodeo"
Project Management practitioners understand that running a Project Management Office (PMO) means different groups within a company will compete for their projects to take priority. As in any group dynamic, individuals are continuously assessing how they can better position themselves for success. It’s the PMO’s role to step in to accurately assess the business benefits of all projects and prioritize them in relation to the greater good of the company as a whole. More importantly, strategic alignment to corporate objectives is key to understanding where sponsored projects fit within the company’s portfolio – the wrong priority can mean the difference between order and chaos. It’s for this very reason PMOs exist to objectively define the business benefits of all the proposed projects at arms length from the business units in which they emerged. In many cases, business units propose projects to eliminate subjective risk. It’s the PMO’s role to assess the proposed risk and implement an objective risk management strategy that can in the end avoid unnecessary costs associated to projects “deemed” necessary.
In this episode, we will examine how project management offices can use project portfolio management tools to define benefits and build business cases to determine which projects to pursue. To do this, we sit down with industry insider, Beth Partleton, who has more than 30 years of project and portfolio management experience in manufacturing and construction. During her illustrious project management career, she was the Director of Strategic Projects for Miller Brewing Company in Milwaukee, Wisconsin; she was a founder, charter member, and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational Foundation Board of Directors and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around setting project priorities by properly defining project benefits and building the business case justification.
Hope you enjoy the episode. Thanks again to our community for sharing their war stories.
Music Notes
1. The opening of the episode – “Catwalk” 2. Interview with Beth Partleton – “Kickflip” 3. The closing of the episode – “Yearbook”
Creating a Project Management Office (PMO) requires a large commitment on the part of an organization in centralizing and streamlining its project activities. Often the creation of the PMO overshadows the actual maintenance and success of its function. In fact, 25% of PMOs typically fail in the third year of their existence. Given this reality, its important for organizations to design a PMO that is built to last. Meaning, PMOs require to have the right infrastructure and buy-in in order to succeed. Implementing a Project Portfolio Management (PPM) methodology that accurately aligns an organizations corporate objectives with its active projects is what keeps the PMO machine going. Without the fuel driven by sound PPM best practices a PMO's chances of success hang in the balance.
In this episode, we will examine how to create a project management office and more importantly, how to successfully maintain it through an effective project portfolio management (PPM) strategy. To do this, we will look at PMOs in a service organization and a manufacturing company.
Our show is divided into 2 segments.
In Part 1, we will be talking to industry insider, Kris Reynolds, who has over 10 years of project management experience and has led numerous projects in healthcare and software application development. He is the Director of the Program Management Office at Macrovision, formerly TV Guide. His PMO was named one of the Top 20 Outstanding project management organizations in the October 2007 edition of PM Network magazine. Kris is a frequent author and lecturer on project portfolio management, PMOs, and project management, and currently serves as president of the Project Management Institute (PMI) PMO Local Interest Groupof Tulsa, Oklahoma. Tonight Kris discusses how his organization created a PMO to develop and indoctrinate a consistent project management methodology and project management discipline.
In part 2, I sit down with industry insider, Beth Partleton who has more than 30 years of project and portfolio management experience in manufacturing and construction. During her illustrious project management career, she was the Director of Strategic Projects for Miller Brewing Company in Milwaukee, Wisconsin; she was a founder, charter member, and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational FoundationBoard of Directors and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around the importance of PPM to maintain a successfully operating PMO.
Music Notes
1. The opening of the episode – “Greasy Wheels” 2. Interview with Kris Reynolds – “Half Moon Bay” 3. Interview with Beth Partleton – “Glide” 4. The closing of the episode – “Electric Rodeo”
With businesses around the globe experiencing the pinch of a hurting economy, project managers and PMO leaders are looking for ways to mitigate project cost overruns by carefully gauging their resources and activities at every critical milestone. In light of this reality, measuring techniques such as earned value management have been pushed to the the top of project managers' agendas in order to assist their organizations during these volatile times.
So what is Earned Value Management (EVM) anyways? EVM is a technique for objectively measuring project performance by combining the measurement of project scope, schedule and cost into one single integrated metric. Sounds like a silver bullet? Think again. Like most project management methodologies, without the proper stakeholder buy-in and when misapplied EVM can yield inaccurate results that can potentially derail a project's path to success. Alternatively, since its introduction in the 1960's by the US government, EVM has had a long history of helping project managers in the private sector and government contractors in the public sector in measuring the cost and performance of their projects.
In this episode, we will examine the advantages and disadvantages of earned value management in providing metrics to better gauge project milestones.
Our show is divided into 2 segments.
In Part 1, the Technology Corner, we sit down with Charlene Thompson, who has over 15 years project management experience. She is the Vice President of Programs for the Kansas City chapter of PMI, and is a member of the PMI College of Scheduling. Currently, Charlene works for the EG&G Division of URS as Project Engineer for Alliant Techsystems (ATK) at the Lake City Army Ammunition Plant. ATK has more than 17,000 employees in 21 states and is a leading supplier of aerospace and defense products, munitions, smart weapons, propulsion and composite structures. In this episode, Charlene discusses why ATK switched from Microsoft Projects to Primavera to manage complex, long term maintenance projects at the munitions plant.
In Part 2, we will be talking to industry insider, Larry Bradshaw who has over 15 years of project and portfolio management experience. He is the founder and owner of Commonwealth Data Systems, Inc. Larry has extensive experience with IT Software Program and Project Execution as well as detailed leadership in software development, testing, implementation and support. In this episode, he will be sharing his insights and war stories around earned value management.
I would also like to remind our audience that it is not too late to sign up to receive a free copy of our upcoming Industry Report on new product development.
The industry report will provide project managers, engineers and executives insight into the technology and tools to develop, manage, design, and produce products from idea generation to commercialization.
The report will feature thought leadership, best practices and customer success stories in key verticals, such as aerospace, consumer goods, process manufacturing, financial services, publishing, and many others, to help project managers, engineers, and executives succeed.
If you would like to get a free copy of the report, which will be published in January, click here to complete the registration form today.
Thanks again to our community, please keep the war stories and suggestions coming.
Often Project Management Offices (PMOs) are setup in response to an increasing volume of projects that are in desperate need to be managed, prioritized and tracked so that they deliver on the expectations of the corporations they serve. Whether these projects drive the organizations operations or are core to the services delivered to customers, aligning their outcome with corporate goals is key to their success in the eyes of both internal and external stakeholder at hand.
With this in mind, Project Portfolio Management (PPM) as a discipline is the governance framework of choice most PMOs embrace in order to efficiently and effectively manage the limited resources and long list of tasks on multiple projects residing at any given time within an organization. This careful balancing act between resources and projects PMOs seek to achieve, requires the necessary visibility PPM can provide so that prject leaders can strateigcally align their success with corporate goals.
In this episode, we examine how project portfolio management provides the necessary visibility into projects that impact an organization’s success by examining a manufacturing company and a media company.
Our show is divided into 2 segments.
In Part 1, we will be talking to industry insider, Beth Partleton, who has more than 30 years of project and portfolio management experience in manufacturing and construction. Beth recently retired from Miller Brewing Company in Milwaukee, Wisconsin, where she worked as the Director of Strategic Projects and was responsible for creating Miller’s project management office and for developing a better link between portfolio management and Miller’s corporate strategy. During her illustrious project management career, she was a founder, charter member and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational Foundation Board of Directors, and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around managing project priorities in a manufacturing environment.
In part 2, the Technology Corner, I sit down with Kris Reynolds, Director of the Program Management Office (PMO) at Macrovision, formerly TV Guide. Kris has over 10 years of project management experience and has led numerous projects in healthcare and software application development. His PMO was named one of the Top 20 Outstanding project management organizations in the October 2007 edition of PM Network magazine. Kris is a frequent author and lecturer on project portfolio management, PMOs, and project management, and currently serves as president of the Project Management Institute (PMI) PMO Local Interest Group of Tulsa, Oklahoma. Tonight he discusses how his organization improved resource management, capacity planning and moved away from putting out fires to managing projects, all by switching from a system of spreadsheets, word documents and the ad hoc standard of the day to Daptiv PPM.
Special Announcement: Based on feedback from our audience, PM War Stories is partnering with the PMI Montreal Chapter to create and distribute the Product Development and Design Industry Report
The industry report will provide project managers, engineers, and executives insight into the technology and tools to develop, manage, design, and produce products from idea generation to commercialization. Examining key software vendors in project portfolio management, new product development and product life cycle management, the report will provide in-depth analysis of the state of the market.
Additionally, it will feature thought leadership, best practices and customer success stories in key verticals, such as aerospace, automotive, construction, consumer goods, electronics, industrials, life sciences, process manufacturing, financial services, publishing, and many others, to help project managers, engineers, and executives succeed.
Anyone interested in receiving a free copy of the report, which will be published in December, should complete the registration form today.
Many thanks to our audience, please keep the war stories and suggestions coming.
Music Notes
1. The opening of the episode - Torn Jeans 2. Interview with industry insider - East Ender 3. Technology Corner - Highlight Reel 4. The closing of the episode - Electric Rodeo
In many organizations, more often than not, project sponsors play a critical role in either derailing or keeping a project on track . Effectively understanding your sponsor’s objectives will increase a project’s positive outcome. In contrast, heading into a project blind to a sponsor’s goals, or even worse, heading into a project with no sponsor, can kill the successful execution of a project plan. Often organizations fail to realize that the projects sponsor and project manager play equal roles in a project’s outcome. Consequently, even with the best project manager in place many projects are doomed to fail.
In this episode we will be examining how having the right project sponsor can be the difference between success and failure in ERP projects. Our show is divided into 2 segments.
In part 1, we will be talking to industry insider, Randy Banks, who is a Chartered Accountant and a Certified Project Management Professional with over 20 years of business experience. Today Randy will be sharing his experiences in rescuing troubled projects.
In Part 2, the technology corner, I sit down with David Stover, the Chief Financial Officer of Asahi Kasei Spandex America Inc. - a subsidiary of Asahi Kasei Group of Japan - to discuss its switch from SAP to Netsuite for its enterprise resource planning system. This case study demonstrates how the right sponsor, here the CFO, successfully led his organization to choose and implement the right ERP solution.
Music Notes 1. The opening of the episode – “Salty” by Last Page 2. Interview with industry insider – “Troubles” by paul sevy blues band 3. Technology Corner – “spandex_reloaded” by Oberhofer 4. The closing of the episode – “Montreal bound” by harpman64
Many organizations are faced with the reality of balancing their portfolio of projects. Depending on the level of investment of time and money, both projects and their associated stakeholders are continuously competing for face time to meet their own agendas. Interestingly enough, senior project managers have expressed concerns comparing the ROI calculation of new projects versus those later into their lifecycle. In fact, new projects at the beginning of their cycle are calculated at the 75%+ ROI in contrast to the more mature projects estimated at a 10%-15% ROI. It’s no wonder that project portfolio management as a discipline and the emergence of PMOs have gained momentum in recent years in project-centric organizations.
For industries in which the development of new products is the life line of their organizations, PPM methodology has always been a critical component to their business. This is especially true for organizations in Consumer Packaged Goods industry that may have dozens of products at one time at different stages in their development. Every product is treated as a project, and with the complexity of each product the time and resources invested have challenged organizations in their ability to separate the good from the bad that lies within their portfolio of projects.
In this episode, we look at new product development in the CPG industry and we will feature a new segment entitled “Technology Corner.” Based on emails from listeners Technology Corner will feature IT project case studies and provide insights to their successful delivery. Initially the Technology Corner will make periodic appearances in our monthly shows. If it is well received, we will add it as a regular installment.
Our show is divided into 3 segments:
In part 1, we will go Roaming with the Salty Dogg and explore whether new really is better by exploring a case study in new product development.
In part 2, we will be talking to industry insider, Hugh Woodward, who has over 35 years of project management experience in manufacturing, construction and IT. Hugh will be sharing with us his war stories and insights of project portfolio management in the consumer packaged goods industry and the challenges of choosing between investments in scheduled or existing projects and new ideas.
In part 3, we will talk with Randy Banks in our first installment of the Technology Corner. Randy is a Chartered Accountant and a Certified Project Management Professional with over 20 years of business experience. Today Randy will be sharing his experiences in rescuing an Enterprise Resource Planning systems or ERP project.
We hope you enjoy the show and encourage you to send your questions, issues, and war stories.
Part one of our August show brought to light the realities project managers face when coping with risks and uncertainties in their projects. This episode will examine the consequences of both carefully managing and disregarding the signs of risk and uncertainty in projects. Project managers more often that not are faced with coping with challenges that can stonewall their projects. Those who have developed the appropriate coping skills to manage these challenges have a better chance in ensuring project success and being perceived effective in their jobs. Inversely, those who ignore the signs of risk will most likely result in project failure and in some cases the loss of credibility as an effective project manager.
In light of this, the second episode of our August show will provide insight in which risks and uncertainties in project management have lead to success and failure in two different instances.
In the second episode the show is divided into 2 segments:
In Part 1, we will bring you the second half of our interview with an industry insider. This month we will be talking to industry insider, Beth Partleton, the Director of Operations and Project Management for the Miller Brewing Company. Beth has more than 30 years of project and portfolio management experience in manufacturing and construction and her current focus is developing a better link between portfolio management and Miller’s corporate strategy. In this portion of her interview she will be sharing her insights and strategies around the sustainability and success of the project management office she created for the Miller Brewing Company
In Part 2, Willie Maykett, our in-house project management specialist, will sound off in Painfully Honest with Willie Maykett. This episode will examine “The Flamingo” hotel construction project and its colorful project manager Benjamin “Bugsy” Siegel whose blatant disregard of risk lead to his failure as a project manager and his ultimate murder, despite his incredible vision that would set the stage for the development of the Las Vegas hotel strip.
We hope you enjoy the show and encourage you to send your questions, issues, and war stories.
