Risk Management Best Practice 5a – Monitoring for Organization-Wide Performance Risk Associated with Large Capital Projects

Strategy Driven

Large capital projects represent a significant investment on the part of an organization and can therefore impact, either positively or negatively, the company’s financial position, if not its viability.

Starting a Successful Team Project. Tips for the initial team meeting

Mike Cardus

The team building I offer focuses on the team completing their work on time, within budget and quality specifications. Team projects succeed of purpose. Project Manager / Team Leader – What to do. What role they feel may be best for them to fill in the project.

At Work, "Yes" is Great, but at Times "No" is Even Better

Leading Blog

At work, we want our jobs, assignments, projects and "stuff" to move along smoothly: achieving objectives, getting promoted, winning contracts. Those budget estimates are way too low, but no one listens to me. This is a guest post by Michael Carroll, author of Fearless at Work.

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The Big Picture of Business – Achieving the Best by Preparing for the Worst: Lessons Learned from High-Profile Crises, part 4 of 4

Strategy Driven

They can be turned from disasters into opportunities to project corporate strengths. Thinking Through the Strategies. Crisis management is so much more than handling of the media. A major oil company had a plant explosion and proceeded to do a good job of communicating afterwards.

Guest Post: Keeping Your Finances Afloat While Working From Home

Survive Your Promotion

In times when business is good, one should make certain they do not concentrate too long on one single issue or assignment, particularly if they may result in not giving adequate attention to other projects waiting in the wings behind it. photo credit: Jeremy Levine Design.

The Big Picture of Business: The Colonel and Me

Strategy Driven

One resulting project was ‘KFC Kalendar,’ an advertising campaign that showcased community events and public service announcements to diverse communities. Corporate cultures depend upon real-time conditions, projected outcomes and policies that promote steady growth.).

The Big Picture of Business: Why a Company Would Improve? The Art of Learning From Failure to Get Better.

Strategy Driven

Attempting projects without the proper resources to do the job well. Success is just in front of our faces. Yet, we often fail to see it coming. Too many companies live with their heads in the sand. Many go down into defeat because it was never on their radar to change.

StrategyDriven Editorial Perspective – The Ugly Truth About Partisan Public Project Labor Agreements

Strategy Driven

Public project labor agreements (PLAs) provide another hurdle, unless their employees choose to pay union dues. Bush’s prohibition on the requirement for project labor agreements on federal projects.

Why Creativity Thrives Under Constraints

Tanveer Naseer

There’s always excitement around a new project. We’re told there isn’t enough time to implement what we first thought, or that the budget was slashed and now we have to produce the same outcome with less money. We can lose interest or become frustrated by our once shiny new project.

Advice: Manage Well by Leading Better

N2Growth Blog

Keep the projects on time and within budget by putting people into positions where they can succeed. By John Baldoni , Chair, Leadership Development, N2growth. Management is your day job; leadership is your career.

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The Big Picture of Business: Fine Wine, Aged Cheese and Valuable Antiques. Professionals Who Go the Distance.

Strategy Driven

Vision for the project, from concept through execution. Marketplace sensitive considered in the overall project, but not pandored to.

Love and kindness in leadership

Aspire-CS

Andrew managed a group of employees that weren’t meeting deadlines for a major project. The project delays were costing his company money and time, and he knew that they might just cost him his job.

The Trouble with Control

Great Leadership By Dan

Guest post by Jen Shirkani : I write about the damage done when, as leaders, we don’t fully allow employees to have control over their tasks, projects or budgets.

Rethink the Value of Each Customer for Efficient Growth

Women on Business

Typically, companies calculate the CLV of a customer merely by looking at their projected direct revenue. CLV can shape how and where you spend your marketing budget. Guest Post by Elizabeth Dillon of Digital Marketing NOW (Learn more about Elizabeth at the end of this post).

10 Reasons Why Every Manager Should take a Finance Course

Great Leadership By Dan

The audience was mostly engineers – program and project managers, the ones in charge of designing and making complex stuff. You’ll have a better appreciation for why top management or the bean counters are always asking you to fill out those reports, budgets, forecasts, and all that other stuff that you always whine about. Caution: when employees feel like owners, no more wasting money on expensive furniture, management boondoggles, or projects with a poor net present value.

Cooperation and Outward Spiraling Success Loops

Mike Cardus

Was struggling with sales representatives and project managers turning in expense and budget reports on-time…They told me “We have tried everything and our CFO is tired to putting out fires for us.”. On time budget requests and updates from project managers up 48%.

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Succession Planning Development Plans: Skill Gaps or Experience Gaps?

Great Leadership By Dan

To create a development plan to address this skill gap, we might have the candidate take an executive development course in strategy, be mentored or coached by someone who’s really strategic, and assign them to lead a project that will require them to be strategic. That’s the nature of development – no two people will learn the exact same thing taking an identical course, being coached by the same individual, or leading the same project. Led a six-sigma project.

Risk Management Warning Flag 1 – Unadjusted Resourcing of Risk Monitoring Activities

Strategy Driven

Major projects typically add significant operational, financial, reputational, and regulatory risk to an organization’s overall risk profile. This project risk may by itself exceed the normal level of organizational risk leaders are accustomed to dealing with.

Using Good Decision Making Procedures can have a Positive Effect on the Team

Mike Cardus

In order for decisions to be made quickly, and the work to be completed on-time, on-budget, within quality, while the team still gets along, a known and agreed upon procedure must be used. Team members will be more committed to the course of action, and more willing to do the project work.

Paradigm Flip – New Book Releases Tuesday December 10th

Modern Servant Leader

I’ve been working on a big project for you, that I’m excited to say is finally ready to share: Paradigm Fl i p : Leading People, Teams, and Organizations Beyond the Social Media Revolution. The startup space is fraught with tight budgets and communication risks. Greetings Modern Servant Leader readers.

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20 Interesting Behaviors of Strategy Tourist

Strategy Driven

Inflate budgets. This gives you enough money to fund you pet projects or cut costs without any effort when you are forced to do so. Try to join as many steering committees as possible, but avoid taking on responsibility as a sponsor or project manager.

StrategyDriven Enterprises Partners with Xen Wireless to Form StrategyDriven Analytics, a Utility Industry Asset Management Blind Benchmarking Service

Strategy Driven

Utility industry executives and managers face unprecedented challenges associated with aging assets, evolving regulations, and increasing budget pressures,” explains Nathan Ives, StrategyDriven’s Chief Executive Officer. “By

Complimentary Resource – Are You Ready for Big Data?

Strategy Driven

The first weeks of 2013 were barely out of the gate when one industry analyst was already predicting that Big Data would be Time magazine’s 2013 “Person of the Year.” But what about companies with smaller staffs and budgets? Are You Ready for Big Data? by Acquia, Inc.

The Dirty Little Secret of Project Management

Harvard Business Review

Why don't more project managers sound an alarm when they're going to blow past their deadlines? That's the dirty little secret of project management. As the lead developer on one big software project put it: "Everybody knows the schedule is a joke, and we pay no attention to it.

Deliver Big Impact on a Small Budget

Harvard Business Review

Or can social entrepreneurs use the same techniques that for profit startup entrepreneurs use, and still make a big impact on a smaller budget? Second, we standardized all management coordination on a low-cost but elegantly simple project management software called Basecamp.

To bid or not to bid? That is the question.

Strategy Driven

Especially as it relates to their actual experience and their projected needs. Talk to the person who MAKES the budget, not the person who spends it. “They get bids for everything and always take the lowest bid.”. They send out an RFP and I can never speak to the decision maker.”. “We’re

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Resource Management Warning Flag 3 – Marginalizing Employee Contributions

Strategy Driven

Relate Articles: Resource Projection Warning Flag 1 – Assumed Discretionary Effort. Budget Management Warning Flag 1 – Across the Board Cuts. All employees need to feel their work contributes to and is valued by the organization.

Fear of Loss of Group Membership is More Powerful Than Management

Mike Cardus

Example - Consulting a finance team from a mining company we had to figure out a way to get the budget reports to the finance team on-time so accurate profit and loss + budgets could be shared and allocated to operations. Photo Credit. Resistance to Change and Learning Anxiety.

Ensure Smooth Transitions for Successful Change

Change Starts Here

Although construction was moving along smoothly, it became apparent to the project’s director, Brian Horgan, that moving people would not be as easy. In December 2010, the project team met for a one-day workshop to take stock of the potential “people issues” created by the move.

5 Steps To Team Building. It is not team building activities, it is team structure and accountability

Mike Cardus

The team knows who the Project Manager / Team Leader is. The team knows what the Project Manager / Team Leaders is accountable for. In order to achieve what the team is supposed to do the necessary resources are budgeted and readily available.

Tactical Execution Best Practice 7 – Target Non-Value-Adding Work to Improve Efficiency

Strategy Driven

In fact, in slower economic times or sales periods, organizational leaders often find themselves in situations that require the reduction of discretionary budgets and resources while trying to maintain throughput and organizational expertise.

Five Jobs Made More Effective With Change Management

Change Starts Here

Project Management. Focused primarily on schedule, scope and budget, project managers often overlook the biggest risk to their project’s success: the unexpected obstacles people place in the path during implementation. Whether it is a new IT system, new equipment, or a new product, most projects involve changing the way people do their jobs.

Greg Gaskey Named StrategyDriven Enterprises Chief Operations Officer

Strategy Driven

Increasing demand for clean, affordable electricity combined with an aging infrastructure, retiring workers, growing regulations, rising capital costs, and intensifying budget pressures challenge utility executives and managers now more than ever before.

Managerial-Leadership Case Study: Falling from Big Enough to Too Small in competence for the role

Mike Cardus

Under her management, in the previous role, the department had a 98% retention rate of employees and a project completion on time, on budget, and within determined specifications of 83%, the highest amongst any of her peers.

Instead of looking for the Problems. Start looking for the Exceptions

Mike Cardus

For example, suppose that your team keeps fighting amongst themselves and thus the project is late, over budget and poor quality. This is an edited repost of an idea I shared earlier.

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Complimentary Resource – Why IT Struggles to Innovate, and How IT Management Can Fix It

Strategy Driven

It seems that it’s virtually impossible for IT management to meet all business demands with current budgets, resources, and approaches. According to Gartner and other analyst reports: 80%-85% of IT budgets are spent just “Keeping the Lights On” (KTLO).

When Tracking Projects, Ignore Your Accountants

Harvard Business Review

Do you get regular reports from your company's accountants about how your projects are doing financially? Our projects range from $100,000 to more than $10 million and take anywhere from a few months to two years to complete. Let's say we have a $5 million project with estimated total costs of $4 million and a projected profit of $1 million, and we're expecting it to take 18 months to complete. million, and half the budgeted profit, or $500,000.

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6 Silent Productivity and Profitability Pitfalls, part 4 of 7

Strategy Driven

Companies generate value when these commitments are clear and crisp and are fulfilled on time, on budget, and as scoped. But when the commitments are unclear, late, over budget, or scaled up or down, companies generate waste (what we call “coordination waste”).

Managerial-Leadership Case Study: Contextual Goals Matter

Mike Cardus

How as a manager do you determine the “just right” amount of context that is needed for on-time, on-budget, on-quality completion of goals and tasks? Frank’s part of the project was due 3 days ago and he is still not done. Contextual Goals Matter.

Supervisory Leadership Development Workshop

Mike Cardus

Steps to create “buy in” for the team projects from people who are outside the team. Overview: Within organizations and teams it would be great if we could just hire the best people and expect them to magically get along and complete their work on time, within budget and quality standards.

The Dirty Little Secret of Project Management

Harvard Business Review

Why don't more project managers sound an alarm when they're going to blow past their deadlines? That's the dirty little secret of project management. As the lead developer on one big software project put it: "Everybody knows the schedule is a joke, and we pay no attention to it.

Recommended Resources – AMA Business Boot Camp

Strategy Driven

Manage projects; from setting scope and selecting a team to delivering on-time, on-budget results. AMA Business Boot Camp : Management and Leadership Fundamentals That Will See You Successfully Through Your Career. edited by Edward T. Reilly. About the Book.

Recommended Resources – AMA Business Boot Camp

Strategy Driven

Manage projects; from setting scope and selecting a team to delivering on-time, on-budget results. AMA Business Boot Camp : Management and Leadership Fundamentals That Will See You Successfully Through Your Career. edited by Edward T. Reilly. About the Book.