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Category: People

Business, People, Project Economy

People Forget Project Management Failures 

PMI has published the list with the most influential projects of 2022. The second place went to the James Webb Space Telescope. This project was a management failure because it ended up with an over cost of $8bn, a final delay of 12 years, and it was about to be cancelled in 2011. Fortunately, the launch last December was a complete success. It started sending images in July, and it will continue operation for 5-10 years. When projects are transitioned to operations, and everybody can see the results and the value delivered, people tend to forget the management failures of the project phase. As project professionals, even if we say that a project has been very influential, we have to learn from mistakes to not make them again.

Management Frameworks, People

Performance Appraisal for Project Managers based on PMBOK7 

Everyone can cook, but not everyone is a cook. Our profession is no different: everyone can organize tasks, but not everyone is a project manager. Normal people –non PMP®– should be able to tell if a project manager is a good or a bad professional. PMI® published a practice standard named “Project Manager Competency Development Framework” (PMCDF), based on the processes of PMBOK5. We can anticipate the next edition of the PMCDF will be aligned to PMBOK7, implying all stakeholders will be able to check good or bad project performance on 8 performance domains.

People, Project Economy, Project Management

Organizing the Project Economy 

PMPeople provides the technology for organizations to be effective in the Project Economy. In the Project Economy, projects are organized in structures enhancing specialization. On the other hand, people use different roles to collaborate effectively in the management of multiple projects, in various organizations, within different departments, in different portfolios, programs, teams, etc.

Business, People, Project Economy

AI applied to Project Management 

Year 2030. PPM tools include AI features. People can talk to a chatbot to initiate new projects, prioritize them, or approve the project set adding the most aggregated value. AI can help on technical tasks related to planning, controlling, knowledge management, etc. AI helps mentoring project managers throughout their professional careers. AI is effective classifying and clustering thousands of projects belonging to business units, programs, and portfolios. AI saves a lot of time generating reports, assuring quality standards, etc. AI can answer questions like: What are the odds this project will finish on time? What is the value of this deliverable? What projects should be re-baselined? What teams should be restructured? What contracts should be canceled?

Business, People, Project Economy

What is Artificial Intelligence? 

As in every area of the economy, digital transformation has disrupted project management. In order to manage projects professionally, we do not need paper documents anymore. We do not need to work from specific locations, neither. Project data, essential for business management in the Project Economy, is growing exponentially. More and more people collaborate on projects, sharing more and more technical and management data, and organizations are executing more and more projects. With so much project management data available, could algorithms manage projects automatically? What will be our role as project management professionals?

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