In this blog I look at 10 key elements that every Project Manager should be aware of. Irrespective of size or complexity.
The following ten elements should be considered by a project manager irrespective of the size of the project. It is the level of detail that goes into each element that will correlate with the size and complexity of the project.
Element 1 – Planning and Scoping
A key component of any project is the completion of a project scope. Having a clear project scope assists with the effective management and expectations of stakeholders. It ensures that the deliverables are aligned with the project objectives and improves the chances of project success.
Included in the project scope statement should be detail on the project outcomes, customers, outputs, work and resources.
Scoping establishes the boundaries of a project and is suggested for all projects within an organisation. The scope of a project represents the deliverables that are required in order for the project to be completed. It establishes what can be done within the constraints of the project, specifically its time and cost.
A project will usually change through its life cycle. It is with the benefit of planning that the amount of change and therefore its risk can be reduced. Project risk can never be removed completely however with through planning it can be reduced significantly.
In 2001 a group of seventeen software developers came together to publish the agile manifesto. This presented a range of values to uncover ways to improve software development. The values were:
Individuals and interactions over processes and tools
Working software over comprehensive documentation
Customer collaboration over contract negotiation
Responding to change over following a plan.
The manifesto also incorporated twelve principles that were very focused on the timely efficient and adaptability of software development.
It is interesting to note that Scrum, Kanban, Extreme Programming and Dynamic Systems Development Method were all documented before the manifesto was formed. However, all of these methodologies are now known as agile software development methods.
Have you ever thought a project was a good idea and then you went straight into planning it? Or there was talk with your colleagues that a certain project would work and then somebody in a burst of enthusiasm begins setting out a set of tasks to see the project through?
This is a common situation. But is there a better way to think about projects in your organisation?
From all the different project options available to us we need to find a process that applies some rigour in order to find the best project option available to us.
The world has witnessed its fair share of project failures in the ever-evolving landscape of innovation and ambition. These grand endeavors, often pursued with the utmost determination, have sometimes crumbled in the face of unforeseen challenges.
Let’s embark on a journey to explore the stories of these failures. From the iconic Sydney Opera House, a modern architectural masterpiece fraught with budget overruns and structural challenges, to the Betamax, Sony’s once-revolutionary but ultimately defeated video format. And then, consider the bold decision by Coca-Cola to change its sacred recipe.
These projects have left an indelible mark in the annals of history. Join us as we delve into the riveting tales of these and more, examining the lessons they impart in the volatile world of innovation, ambition, and, sometimes, spectacular project failure.
1. Sydney Opera House
the Sydney Opera House is one of the icon architecture pieces in the world however it also one of the biggest project failures in history.
In project management there are three significant constraints to any project that need to be considered. They are the triple constraints of time or scheduling, the cost of the project and the scope. The time and cost constraints are self-explanatory, however what is meant by the scope of a project are the deliverables required to make the project come to life. Essentially it provides the vision for the project. What is important to remember is that changes in one constraint will have a ripple effect on one or both of the other constraints.
Unfortunately, in the case of the Sydney Opera House there was no defined scope. No clear deliverables in place led to a massive blow out in both time and cost. In fact the cost of the project ended up being 15 times more than was originally budgeted and took 10 years longer. It serves as one of history’s greatest project failures.
Today we know the Sydney Opera House as one of the most recognised architectural pieces in the world. It is located on Bennelong Point at the foot of the beautiful Sydney Harbour and adjacent to the Sydney Botanical Gardens and it has hosted many iconic moments.
In project management there are three significant aspects of any project that need to be considered. These are the triple constraints of time or scheduling, the cost of the project and the scope. The scope of a project is its deliverables. Essentially it provides the vision for the project. Unfortunately, in the case of the Sydney Opera House there was no defined scope. No clear deliverables in place led to a massive blow out in both time and cost..
We are getting ahead of ourselves. Let’s start at the beginning….
In order for risk associated with projects to be minimised it is essential that stakeholders are engaged. There are four significant stages in the management of stakeholders.
As business has developed over the years so has the management theory underpinning it. The classic definition of management as an activity is held by Henri Fayol, “To manage is to forecast and plan, to organise, to command, to coordinate and to control”.
Management Theory has evolved from being viewed in isolation where a mangers social responsibility solely relied on increasing profits, to a more modern view of how a decision will affect others.
The modern manager asks themselves what the flow on effect of decisions will be and will it be viewed by stakeholders in a positive or negative way. The effect of evolving managing theories has had the consequence of closing the gulf between the business and the ethical world.
A key challenge for modern management theory is to reform economic thinking so that it can include ethical challenges. It can be argued that the work of Milton Friedman, Michael Jenson, Michael Porter and Oliver Williamson all added important building blocks to the development of stakeholder theory.
There are four pivotal management theories that need to be explored further in order to gain a better understanding of the evolution of management theory.
Success Equals Profit maximisation
Milton Friedman was an American economist who received the Nobel Prize in Economic Sciences in 1976. He is most well-known for his work with the Chicago school of Economics and his rejection of Keynesianism in favour of monetarism.
Friedman posited that the purpose of business is to “use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open and free competition, without deception or fraud”.
