March 14 PMI Presentation

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PROJECT SUCCESS: ARE WE ADDRESSING THE CUSTOMER’S “REAL” OBJECTIVES?: 

PROJECT SUCCESS: ARE WE ADDRESSING THE CUSTOMER’S 'REAL' OBJECTIVES? Hugh Woodward March 14, 2006

Project Orion : 

Project Orion PMI’s International Project of the Year 1997 F A I L U R E

2002 Olympic Winter Games: 

2002 Olympic Winter Games Projected $100 million deficit Actual $400 million profit Key to success: profitability S U C C E S S

Traditional Project Management: 

Traditional Project Management COST PERFORMANCE SCHEDULE

Traditional Project Management: 

Traditional Project Management Pinto andamp; Slevin 'Projects are often rated successful because they have come in on or near budget and schedule and achieved a successful level of performance.'

Laptop Upgrade: 

Laptop Upgrade Minimize laptop lease costs Accelerate schedule F A I L U R E

Teen Phone: 

Teen Phone Fast, economic development F A I L U R E

Manufacturing Plant Optimization: 

Manufacturing Plant Optimization Original schedule: 18 months Actual completion 5 years Key to success: production S U C C E S S

Scottish Parliament: 

Scottish Parliament Initial estimate: £40 million Final cost: £431 million S U C C E S S Key to success: national image

Movie “Titanic”: 

Movie 'Titanic' 5 months late Cost: $200 million Key to success: ticket sales S U C C E S S

Alternative Approaches: 

Alternative Approaches Four success dimensions (Shenhar) Project efficiency Impact on customer Business success Preparing for the future

Project Failure Survey: 

Project Failure Survey 'Real Projects' Canceled by management because the need went away Changing priorities and/or business requirements Poor integration Unprofitable product

Project Failure Survey: 

Project Failure Survey 'Generally fail' Poor planning Poor communication Scope changes Cost/schedule targets not achieved

Project Failure Survey: 

Project Failure Survey 'Signs of trouble' • Scope/cost/schedule problems • Team morale/alignment • Poor or no status reporting • Resource turnover

Project Risk: 

Project Risk Project selection and objectives Project execution 80% 20%

Conclusions: 

Conclusions Most project 'failures' are not due to poor tactical execution Project managers focus most of their attention on tactical execution Project managers generally know why their projects were selected and are supposed to achieve

Recommendations: 

Recommendations Corporate Executives • Refocus project managers as the guardians of precious and limited resources • Empower project managers to look at full range of options for troubled projects

Recommendations: 

Recommendations Professional Associations • Position project management more broadly: from project selection to integration • Expand 'body of knowledge' and certification programs accordingly

Recommendations: 

Recommendations Aaron Shenhar '…turn project managers into leaders. Make them responsible for project results.'

Recommendations: 

Recommendations Project Managers • Continually monitor the business case Continually look for signs of trouble • Plan for integration right from the beginning Be prepared to recommend 'out of the box' solutions

Slide21: 

'The result is that while project management has historically been seen within a well-defined context of executing a task ‘on time, in budget, to scope,’ it is increasingly being seen that it has to operate within a much broader, and subtler environment.' -Peter Morris, 2003

Hugh Woodward: 

Hugh Woodward pmforum.org an iWorld company woodwardhm@pmforum.org