Too often a gap occurs between formulating and executing strategy. In a disrupted environment this can be a fatal error driving unwanted costs, lost opportunities and, ultimately, failure to execute. And when failure at execution occurs, the losses are significant regardless of sector.
According to the 2017 PMI Pulse of the Profession report, which surveyed 3,234 professionals globally researchers, in 2016 “companies wasted $97 million for every $1 billion invested in projects and programs.”
This is unacceptable. To help you from making the same mistakes, here are four fundamental principles which underpin our point of view on mitigating the gap between formulating strategy and executing strategy in a disrupted environment.
Since the publication of “Rita Mulcahy’s PMP Exam Prep, Ninth Edition” back in January, we have been getting a number of questions asking why the book does not cover Agile Process. These readers note that A Guide to the Project Management Body of Knowledge (PMBOK® Guide) – Sixth Edition, discusses Agile through out and is shipped in a package set with the “Agile Practice Guide.” Seeing what they consider an obvious disconnect they reasonably ask whether RMC is suggesting that there will be no Agile questions on the PMP exam.
So, you have been given a project completion date from management or the customer that you think is unrealistic. Did you know that this is the project manager’s fault? Yes, I mean that. An unrealistic schedule only happens if a project manager is not using the tools of project management properly. Here is how to handle this situation once and for all.
It’s that time again. The Project Management Institute® (PMI) has updated their book A Guide to the Project Management Body of Knowledge (PMBOK® Guide). This occurs every four years. It’s PMI’s way of keeping the book current with today’s project management practices.
For RMC it means that all of our books, software, and classes have to be revised to stay in alignment with the PMBOK® Guide-Sixth Edition. It also provides us with the opportunity to make other changes to our products and courses so we can deliver the best possible learning experiences. And we are hard at it. Read on to learn about what exactly we are changing and how it aligns with the new PMBOK® Guide.
Project managers spend 90 percent of their time on communication related activities; yet communication is reported to be the No. 1 problem on projects.
Consider the following example: While planning one of my projects, my core project team assessed our sponsor, “William”, to have high influence but low interest in our project. William would routinely arrive late to meetings, be distracted by his phone, and leave early saying he had more important meetings to attend. When he was present, his gloomy attitude affected the rest of the team. They did not want to speak up in front of him fearing that they may have to face his disdain.