In my previous article, I looked at some of the benefits of well-managed projects. in this article, I want to look at all that you need to know about the negative impacts of poorly managed projects. Follow me as we are going to look at that together in this article.

Now the reasons …

#1 Missed deadlines

If projects are not well managed, it will lead to missed deadlines. This will happen because there is absolutely no one holding team members accountable for their deadlines. This will lead to a situation where everyone on the project is just doing what they like.

#2 Cost overrun

A poorly managed project will also lead to cost overrun. In this case, it will lead to a situation where team members ended up spending more than they are supposed to spend on the project because there is absolutely no one checking how much was budgeted and spent on project tasks.

#3 Poor quality

Another major issue with poor projects is that they can also turn out to produce projects of poor quality. When projects are not well managed, it will lead to a situation where the deliverables that will come out of your project will not be acceptable to project stakeholders. This might happened because you failed to carry stakeholders along in the first place.

#4 Rework

Also, poorly managed projects can lead to rework. This happens because measures are not put in place in order to ensure that people are doing the right thing. It will lead to a situation where deliverables are faulty and they have to do it over and over again.

#5 Uncontrolled expansion

Also, poorly managed projects can lead to scope creep. This happens when new features keep popping up and the work seems as if it is not going to end at all. In order to avoid this, you need to have an appropriate project management strategy in place.

#6 Loss of reputation

Poorly Managed projects can also lead to a loss of reputation for the organisation. There is always a correlation between projects and operations in the organisation. When a good project fails, it will have negative impacts on the organisation as well.

#7 Unsatisfied stakeholders

Another major setback when it. comes to a poorly managed project is that it can lead to a situation where stakeholders are not satisfied with the outcome of the project. This is because the project manager failed to carry them along in the first place.

#8 Failure in achieving the objectives

When projects are poorly managed, it will affect the achievement of the desired objectives. This is due to the fact that goals are set but there are no concrete plans in place to achieve those goals. At the end of it all, the organisation will not be able to achieve its project goals.

 

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

 

In my previous article, I talked about all that you need to know about project and project management generally. In this article, I want to look at some of the facts that you need to know about the importance of project management. Follow me as we are going to look at this in this article.

 

#1 Satisfy stakeholder’s expectation

Also, good project management practices will assist the project manager in meeting stakeholders’ expectations. You need to know that your project is not successful until stakeholders are satisfied. It will guide project managers on what they need to do in order to meet stakeholders’ goals.

 

#2 Be more predictable

A good project management practice will allow project managers to have more predictable results. When you follow project management practices being used by other project managers from across the globe, you will notice that you will achieve success just like other project managers.

 

#3 Meet business objectives

One of the benefits of project management is that it will allow Organisations to achieve their objectives. There is a correlation between the organisation and the project managers. When you have a good project management practice in place, it will assist organisations in achieving their project management goals.

 

#4 Increase chances of success

A good project management practice will also increase the chances of success for projects. It will lay down methodologies and techniques that can be followed in order to achieve project goals. Don’t forget that these methods have been used by other exceptional project managers across the globe.

 

#5 Deliver the right product

Having a good project management practice in place will also allow the organisation to deliver the right product at the right time. if it had been that the organisation felt that they can do it anyhow, they will never achieve their project goals.

 

#6 Resolving problems and issues

Project management practices can also assist organisations in resolving issues that might come up. It is a known fact that projects are executed in order to solve them. problems or resolve issues. With good project management practice, organisations can resolve their issues.

 

#7 Respond to risks

A good project manager will also ensure that organisations are able to respond to risks on a timely manner. They will be able to identify potential risks and come up with mitigation strategies. This will ensure that risks do not jeopardise the project.

 

#8 Organisational resources

Also, good project management practices will also ensure that Organisational resources are utilised effectively. It will ensure that roles and responsibilities are utilised accordingly. This will ensure that everything works well at the end of the day.

 

#9 Identify failing project

There is a need for effective project management because it will help to identify, recover or terminate failing projects. It is not all projects that have a beginning that will have an end. With good project management practice, you will identify projects that are going nowhere and find a way to terminate them.

 

#10 Manage constraints

A good project management practice can also assist organisations in managing their constraints. As a project manager, you need to manage coat, scope, quality and other factors that need to work together in order to achieve project objectives.

Without proper management of project constraints, it will be very difficult to achieve project goals at the end of the day.

 

 

#11 Balance constraints

Another major factor that should be considered is the need to balance project constraints. You need to make sure that cost, scope and time are balanced in such a way that the project is finished within the approved cost and approved budget.

We also have to ensure that stakeholders are satisfied with the project at the end of the day.

 

#12 Better change management

One of the major components of traditional project management is better to change management. In traditional change management, any change that will happen has to go through the Change Management Board. They need to approve the change before or can be implemented. This will ensure that foreign deliverables are not inserted into the project.

 

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

 

In my previous articles, I talked about l what you need to know about project and project management in this article, I want to talk about factors that lead to project creation for any enterprise. Follow me as we are going to look at that together in this article.

 

Now the factors …

#1 New Technology

In this case, a project can be initiated as a result of advancement in new technology, take, for instance, an electronic firm authorises a new project to develop a faster, cheaper and smaller laptop based on advances in computer memory and electronics technology.

#2 Competitive forces

Another factor that can lead to creation happens when your competitor comes up with something more superior to what you have. You might carry out such a project because you don’t want to be left behind.

Take, for instance, lower pricing on products by a competitor can result in the need to lower production costs to remain competitive.

#3 Material issues

In this case, a municipal bridge developed cracks in some support members resulting in a project to fix the problems.

#4 Political changes

It can also be as a result of a change in government. Let’s take, for example, a newly elected official instigating project funding changes to a current project because he felt that the actual cost of the project has been inflated.

#5 Market demand

In this case, a car company can authorise a project to build more fuel-efficient cars in response to a gasoline shortage. In recent times, the Nigerian government was talking about designing some cars in the government fleet to run on gas which seems to be cheaper.

#6 Economic changes

Also, an economic downturn can result in changes in the priorities for a current project. Take for instance, in the proposed 2021 budget, the Nigerian government has decided that they will not embark on a new project. They will rather work on how to finish all ongoing projects.

#7 Customers requests

A project can also be initiated as a result of customer requests. Take, for instance, an electric utility company that can authorize a project to build a substation to serve as a new industrial park for industries.

#8 Stakeholders’ demands

This happens when a stakeholder requires that a new output be produced by the organisation.

#9 legal requirements

This happens when a chemical manufacturer authorises a project to establish guidelines for the proper handling of new toxic material.

#10 Business process improvements

A project can also be initiated in order to improve business processes. It happens when an organisation implements a project resulting from a Lean Six Sigma value stream mapping exercise.

#11 Strategic opportunity or business need

A project can also come up as a result of the strategic or business needs of the organisation. A good example of that is a training company that authorises a project to create a new course to increase its revenue.

#12 Social need

A project can also come up as a result of social needs. A good example is a non-governmental organisation that is in a developing country authorising a project to provide a potable water system, latrines, and sanitation education to communities suffering from a high rate of infectious disease.

#13 Environmental Consideration

Above all, projects might also be executed as a result of environmental considerations. Take, for example, a public company that authorises a project to create a new service for electric car-sharing to reduce pollution.

 

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

Analysing The Use Of Expert Judgement For Projects

 

 

In my previous article, I talked about all that you need to know about project and project management generally. In this article, I want to look at all that you need to know about the use of expert and expert judgement for projects.

 

Expert judgment is advice provided by individuals having expertise in a specific knowledge area, application area, industry, or discipline.

Expert judgment may be obtained from internal or external sources such as stakeholders, professionals, subject matter experts, industry groups, the PMO, consultants and functional units.

 

 

Expert Judgement can be obtained either through a panel format such as one on one meetings and interviews, or through a panel format such as focus groups, workshops, and surveys.

During the project life cycle, expert judgement may be required only once or continuously, for a very short period or for an extended period.

 

 

Typical example…

A project team is assigned to develop a financial management software application for one of its customers. Because the project manager and the team are well versed with the software’s technical aspects but are not familiar with the financial concepts, the project manager felt that the project team required a financial expert to be present, to help them develop the software.

 

 

The expert will help analyse the ease of use, coverage of the applications to the current financial laws, and ease of customizing the parameters based on his knowledge of frequently changing parameters in financial systems.

 

 

The expert will also provide financial database data needed to carry out feasibility and reliability tests on the application while selecting an appropriate application.

 

The expert will suggest some typical use cases or situations that occur the whole dealing with and managing a financial system.

 

 

The project manager, therefore, decided to contract a financial expert from a financial service firm.

The expert will provide his or her services throughout the project life cycle.

 

 

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

 

 
In my previous article, I talked about some of the facts that you need to know about milestone and milestone lists for projects. In this article, I want to talk about some of the steps to follow when you need to create activity lists for projects. Follow me as we will look at that together in this article.

 
Accurately defining project activities ensures that all project activities are tied to the project scope, which will mitigate the potentially damaging effects of scope creep. Scope creep happens when more features are added to the project without a proportionate increase in the cost and scope of the project.
 
To define activities and create an activity list, follow these guidelines:
 

#1 Gather inputs

There is a need for you to gather all the resources that you need to create the activity list. Some of these resources may include the WBS, activity list template, the scope statement, scope baseline, relevant historical information, as well as constraints and assumptions for the project.
 

#2 Decomposition

You also need to analyse and decompose each work package of the WBS into activities that will be required to produce the deliverables.
 
You have to conduct brainstorming sessions with the project team to ensure that no required activities are overlooked.
 
You have to conduct the scope statement to ensure that activities will enable you to meet the project objectives.
 
You have to ensure that you conduct progressive elaboration for work packages that cannot be defined as the project starts. That is, create detailed activities for short term WBS work packages.
 

#3 Consult records

There is a need for you to consult records of similar projects to identify possible activities. Consulting such similar projects will allow you to know what you need to do in order to have a perfect project.
 

#4 Consult SME

There is a need for you to consult Subject Matter Experts to get their expert opinions about the project. They will have an independent assessment of the project and plan along with all other stakeholders in order to have a project that can stand the test of time.
 

#5 Evaluate constraints

Moreso, there is a need for you to evaluate assumptions and constraints that have been identified for the project in order to know their possible impacts on activity definition for the project.
 

#6 Evaluate your activity list

Once you have decomposed each work package into activities, evaluate your activity list:
You need to ensure that the description accurately reflects the action to be performed.
 
You also need to verify that the activity descriptions are as specific as possible. For example, if the desired outcome is a revised user manual, describe the activity as ” revise user manual” rather than ” produce new user manual”.
 
You need to confirm that the activities listed for each work package are necessary and sufficient for the satisfactory completion of the deliverable.
 
Also, you have to verify that the list is organised as an extension of the WBS.
 

#7 Create Activity attributes

There is a red for you to create activity attributes for each activity in the activity list by determining responsible team members and the level of effort required to achieve project objectives.
 

#8 Define the milestones

There is a need for you to define the milestones in the project and create a milestone list. This will allow you to know whether your project is running late or not. It will also allow you to bring your project back on track.
 

Typical example…

A project team for a web design company used the WBS and activity list from a previous, similar project to create an activity list for their initial design work package. The team used historical records of the previous project to help identify activities that may be required to complete the deliverable.
 
Depending on the activities they select, the length of time may be lengthened or shortened.
 
Additionally, an outside multimedia expert was consulted about activity identification. Finally, to make sure that the activities supported the project objectives, the team reviewed the scope statement.
 
The project team gathered inputs and resource materials to create the activity and milestone lists and activity attributes for the work package.

 

 

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

 

In my previous articles, I have looked at all that you need to know about stakeholder management and identification for projects. In this article, I want to look at all that you need to know about stakeholder management strategies for projects. Follow me as we will look at that together in this article.

 

 

Stakeholder management strategies are management strategies that are created to ensure maximum support and minimise the negative impacts of stakeholders throughout the project life cycle.

 

The stakeholder management strategy is created by the project manager with identifying stakeholders. The strategy information is ideally represented in a stakeholder analysis matrix.

Typical example…

A typical stakeholder management strategy document could include:

• Stakeholders identification: A list of the identified stakeholders along with their identification-related information.
• The stakeholder map: a chart showing the interest of different stakeholders and the level of participation required from each identified stakeholder.
• The stakeholder analysis influence and importance matrix. A matrix that describes the stakeholders based on their influence and importance to the project.
• The stakeholder list- a list of various stakeholder groups involved in the project and their management.
• Stakeholder communication: a description of how the project will engage various stakeholders, the communication routes, and the frequency of communication for each stakeholder, or group of stakeholders.
• Communication efficiency: specifies how the efficiency of the communication process will be measured.

Stakeholder analysis…

The stakeholder analysis matrix is a document that lists the project stakeholders and describes the ways in which they influence the project. The stakeholder analysis matrix is a shared document, and therefore it is imperative that the project manager exercises proper judgment and due caution with regard to the kind of information and details that need to be included in it.

 

Now Procurement documents …

Procurement documents are the documents that are submitted to prospective sellers and service providers to solicit their proposals for the work needed.

 

Different types of procurement documents are available. This type of document used will depend on the project and the product or service being procured.

 

Typical example…

A Request for Proposal is a specific type of procurement document. A company seeking a new advertising agency for a marketing campaign will send out RFPs to several agencies.

 

An RFP describes the company’s marketing needs and requests for proposals that describe the agency’s qualifications and past campaigns, the key employees’ work history, and their approach to creating a campaign.

CRMNuggetsis committed to fact-checking in a fair, transparent, and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease,you should try it out too

OUR MISSION

To create well-reached contents that will increase the intellectual prowess of our readers.

OUR VISION

To become a reference point in the blogging space by the year 2030. We want to be among the first 30 blogs in Nigeria.

Official Social Media Pages for crmnuggets.com

To Get Email Updates when we post new content,Click Here.

 

Please note that inaccurate time estimates will affect the schedule and may frustrate to e team involved in meeting the schedule. By minimising potential adjustments to the schedule, you and other stakeholders will not have to work overtime and you can preserve your reputation as a project manager.

 

Reserve analysis is the process of identifying and adding extra time that will serve as contingency or management reserves to the duration estimates.

Contingency reserved serves as buffets in recognition of scheduled risks or setbacks.

 

Management reserves are buffers added to the project tasks for unplanned changes to project scope and cost.

 

As the project progresses, reserves analysis is used to determine if the remaining or planned buffer is adequate for project completion.

 

 

Reserve analysis can run the risk of inflating cost revenue.

 

Typical example…

A cellphone manufacturing company contracted a vendor to integrate a new telecommunication technology within their current system. The project manager , Bob , has been assigned to manage this new project.

 

 

He creates a schedule to complete the project within one month. Bob anticipates that if the technical integration aspects are unavailable, the project will need to be extended for one more month.

 

Therefore, he specifies this is the project management plan and retains a contingency reserved of one month.

 

 

Some managers, upon reviewing the project management plan, advised Bob to add two more weeks as management reserve to the project in order to accommodate the risks that may occur due to unknowns-unknowns.

 

 

Action Point
PS: If you would like to have an online course on any of the courses that you found on this blog, I will be glad to do that on individual and corporate level, I will be very glad to do that I have trained several individuals and groups and they are doing well in their various fields of endeavour. Some of those that I have trained includes staffs of Dangote Refinery, FCMB, Zenith Bank, New Horizons Nigeria among others. Please come on Whatsapp and let’s talk about your training. You can reach me on Whatsapp HERE. Please note that I will be using Microsoft Team to facilitate the training.

I know you might agree with some of the points that I have raised in this article. You might not agree with some of the issues raised. Let me know your views about the topic discussed. We will appreciate it if you can drop your comment. Thanks in anticipation.

CRMNIGERIA is committed to fact-checking in a fair, transparent and non-partisan manner. Therefore, if you’ve found an error in any of our reports, be it factual, editorial, or an outdated post, please contact us to tell us about it.

 

Hi, I now use RavenBank to send, receive and save money. I also pay my bills with ease, you should try it out too

Fact Check Policy Contact Us