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5 Laws of Project Management

Only after understanding the principles of project management can automated tools be used effectively. When I do CPM or EVM calculations in class, I tell participants that this is something they will probably never do manually again unless they take the Project Management Professional (PMP®) exam. The real value of the exercise then comes from seeing what is happening “under the hood” so that they follow the flow of data and figures through the technique and estimate the final results. Letting people go with project management software before doing that is like allowing a child to use a calculator for math homework before they can perform the basic functions without having one. Once the concepts and processes are understood, a huge lever can be exercised through the use of adapted tools. All projects face risks, no matter how simple or complicated they may be. The unexpected always happens at some point, so it`s important to create failovers, schedule buffers, and even team backups to make sure you`re managing and anticipating risk. Norman R. Augustine is a former president and CEO of Lockheed Martin and an author of ironic observations about the economy and life, including a large number of “laws.” A logical consequence is that a good, poorly executed idea is of no use to anyone.

Traditional project management creates added value for managers, but not for team members. “What do I get out of it?” must be responsible for each team member in order to achieve real engagement with the process and tools. Remember that Facebook meets project management. The best way to create project goals is to use the S.M.A.R.T. criteria, which are for: This is one of my favorite concepts for project management. If your goals don`t meet all aspects of the S.M.A.R.T. criteria, they`re probably not elaborate enough to ensure a successful delivery. Running a complex process to the end before quality assurance is performed increases the likelihood that all the value created will be lost. Nevertheless, many projects proceed to the approval of the project management plan without any type of control gates. A control door is a point where key product or project management services (e.g., pre- or final product design, work-sharing structure, risk management plan) are reviewed for completeness and quality before performing further work.

The ideal time to validate the return on investment is early and frequent, as most projects spend relatively little money compared to execution when planning. As Leonardo da Vinci once said, “It`s easier to resist at the beginning than at the end.” If you`ve decided to invest in project management software, at The Ascent we can help you make an informed choice through our in-depth product reviews and comparison articles. In most cases, analyzing the schedule and budget with a critical eye will cause many potential problems that are easily preventable. While your plans are always changing, don`t neglect to plan. Through the planning process, you will get to know the project. If you know the project so well that you start every day in full awareness of what should happen, you are in the zone. Find additional resources, including key project management methods and jargon. In his new bestseller Drive: The Surprising Truth About What Motivates Us, author Daniel Pink teaches us that anything we think we know about what motivates us to know is wrong. He advocates for business and education, but it`s clear that his ideas fit perfectly with life in project-based organizations. As projects grow and scale, the Project Management Institute`s Project Management Institute`s Project Management Knowledge Body of Knowledge Guide (PMBOK® Guide, 2004) is also expanded. The PMBOK® Guide has grown from 37 processes and 176 pages in 1996 to 44 processes and 390 pages only 8 years later. Research and writing continue to expand the field to the point that the average practitioner would have to forego project management if they tried to keep up with the growth of the knowledge field.

This article uses the top 10 list paradigm as an attempt to distill this mass of best practices into something that can be used in our daily work as project managers. If a person receives an hour for a task, it takes an hour; If he has a day, he will need a day. A person may start the activity at the last possible minute (student syndrome), perform it quietly, or brown the result (Goldratt, 1996). For this reason, there is the episode of “the busiest man”; A person will theoretically deliver in the shortest possible time, if he has the least time available. Only by setting tight but realistic deadlines for each element of the project, from meetings to the final completion date, can we hope to overcome this aspect of human nature. Whether you work in the for-profit, non-profit or government sector, project management is essential to completing tasks. However, as there are many different types of projects, there is no one-size-fits-all approach to achieving these goals. Susanne Madsen, an expert in project management, stresses how important it is to be meticulous in this phase of project planning.

She explains that this is important: all stakeholders show some tolerance for risk, ranging from persuading that “Murphy was an optimist” to being reluctant to accept almost any level of uncertainty in a project (Murphy`s laws and other observations). The project manager should strive to align stakeholder tolerances with the level deemed appropriate for the success of the project.