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.
Collaborative Roles on Project Management
In the Project Economy, projects need people collaborating as a team from different perspectives. PMPeople does not prevent direct communication needed at all projects. However, it can optimize management helping the interaction between people belonging to the extended project team.
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.
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.
Turn ideas into reality with PMPeople
In The Project Economy there are more and more projects and more people collaborating under different roles in one or more teams, business units, programs, portfolios, or organizations. Nowadays, techology enables professional project collaboration among business units within the same organizations, or from different organizations.
Work Packages in the center of Professional Project Management
Work packages are the work defined at the lowest level of the work breakdown structure for which cost and duration are estimated and managed. Work packages are in the center of professional project management.
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?
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?
Citizen Development in The Project Economy
A citizen developer is a user without coding knowledge who creates new business applications for consumption by others using LCNC Development Platforms sanctioned by corporate IT. By 2024, more than 65% of software projects in the project economy will include at least one citizen developer. This doesn’t mean software teams will ignore IT, rather the opposite.
The CxO role in the Project Economy
What should be the role of a top manager in the project economy? For a CEO, for instance, a project is just a means to get a product, service, or result. They are more interested in operation management than in project management. How should they behave in the project economy? Should they blindly trust on self-organized teams?