About  Contact  Help      

December 2016

 
For up to £250 Bonus for sports, use our exclusive bet365 Bonus www.abonuscode.co.uk Claim your bonus and start betting at bet365 now.

Lighter Side of PM

Dec 19
For up to £250 Bonus for sports, use our exclusive bet365 Bonus www.abonuscode.co.uk Claim your bonus and start betting at bet365 now.

didyouknow

Q. This is the report created whenever a stage/project plan exceed the relevant tolerance bounds.

 

A. An exception report is a type of summary report that identifies any events that are outside the scope of what is considered a normal range. Reports of this kind are employed in a number of settings, including the process of inventory reconciliation, project management investigation, and even employee assessments. Exception Report play a vital role in Management by exception. Management by Exception is a "policy by which management devotes it's time to investigating only those situations in which actual results differ significantly from planned results. The idea is that management should spend its valuable time concentrating on the most important items (such as shaping the company's future strategic course). Attention is given only to material deviations requiring investigation."

 

The type of tolerance is specified at each level for example time, cost, benefits, scope, risk or quality will be used in creating the Exception Report. The next step is to create the exception plan (based upon the information contained within the Exception Report), which is created by the Project Manager in order to advise the project board that tolerance is forecast to be exceeded as well as to present a range of options and recommendations outlining the actions to take in order to resolve the situation.

 

[Source - Internet]


 

 

For up to £250 Bonus for sports, use our exclusive bet365 Bonus www.abonuscode.co.uk Claim your bonus and start betting at bet365 now.

Members Corner

Membership Transactions:

MembersCorner2

MembersCorner1

 

 

 

 

 

 

 

 

 

 

 

EEP Update: Members who missed to renew their membership post December 2015 can still avail membership fee benefit of $65 as part of Economic Exception Program, Renew your membership today.

Appended is the list of few FREE web-based seminars (webinars) for December 2016, we have shared same list to your registered email; this is a good opportunity to earn PDUs and claim at PMI to maintain your credentials.

 
 
 
For more webinars, please logon to ProjectManagement.com with your PMI credentials.

For any queries or suggestions, please write to Balakrishna Kasibatla, PMP, VP Membership, PMI Bangalore India Chapter at This email address is being protected from spambots. You need JavaScript enabled to view it.

 
 
Quil
 
 
PM Essence
“The mission of PM Essence is to facilitate the exchange of information among professionals in the field of project and program management, provide them with practical tools and techniques, and serve as a forum for discussion of emerging trends and issues in project management. PM Essence is YOUR Newsletter and Bangalore Chapter welcomes story ideas and/or suggestions to make it still better. More information can be found on the Chapter's website.”

Disclaimer
All articles in PM Essence are the views of the authors and not necessarily those of PMI or PMI Bangalore India Chapter. Unless otherwise specified, it is assumed that the senders have done due diligence in getting necessary copyright and official clearance in respect of all letters and articles sent to PM Essence for publication. PMI Bangalore India Chapter is not responsible for loss, damage, or any other injury to unsolicited manuscripts or other material.
pmibclogosm
PMI Bangalore India Chapter # 13, Suryastan Apartments, Andree Road, Shanthi Nagar, Bengaluru - 560 027, Karnataka, India

This email address is being protected from spambots. You need JavaScript enabled to view it. T +91 80 6583 3671, +91 80 2211 5772, +91 98868 14078 http://www.pmibangalorechapter.org
For up to £250 Bonus for sports, use our exclusive bet365 Bonus www.abonuscode.co.uk Claim your bonus and start betting at bet365 now.

Success Story - Chapter Membership

Meetings

It takes immense pleasure in sharing that our Chapter has crossed 2500 members milestone in November 2016 and second highest in APAC region. It was during the Chapter's Strategy Meeting in the beginning of the year that the Board decided that Membership is one of the top three priorities for the Chapter. The Membership team has accepted the challenging assignment and started streamlining the existing process and has initiated lot of activities during the year which includes various membership drives. Some examples are, Welcome emails and Welcome kit to new members, Thank you emails to members who renewed their membership, Reminder emails to members who are due for renewal, Reminder calls from Chapter's associated call center, short verbiage on Chapter events as part of PMI Call Center for the members from Bangalore region, FREE PMI hosted Webinar communications to members for Knowledge enhancements and PDU, Member's Corner section in Chapter's monthly magazine, PM Essence, where members share their experience and benefits from Chapter membership. These activities, along with many networking sessions during Chapter events resulted in Chapter's membership growth. The Chapter reached the historic 2500 mark during November 2016 resulting in 25 % growth from base levels.


The main host of the event was Mr. Wilhelm Wiese Head, India Development Center, ABB Global supported by Mr. Srikanth Ranganathan, Vice President of Engineering Huawei. Core Volunteers who planned & executed this event have been drawn from various companies like Mr. Palash Gupta, Huawei, Mr. K.S. Bhat, Mr. Gladstoe Leslie Samuel from ABB Global, Mr. Ravi Murthy from SAP.

Next PM Open Space session will be held at SAP Campus.

For up to £250 Bonus for sports, use our exclusive bet365 Bonus www.abonuscode.co.uk Claim your bonus and start betting at bet365 now.

Are you a homeopathic PMO?

Stuart Easton

Many people believe in homeopathy. It's been used for thousands of years and is deeply rooted in certain parts of society. However, the unequivocal research by modern science practitioners proves that homeopathy doesn't work – it's just a placebo.

 

In much the same way there are methods for prioritizing projects that have been used for decades. At some point they were probably even deemed to be best practices, but like homeopathy they don't really work.

 

In this article we will try to work out which methods are homeopathy and which are real science.

 

Spotting the fakes

So how can you tell fake remedies from the Real Deal? For me there are 3 or 4 absolutely vital components in a valid prioritization process. Missing any of these steps dramatically undermines the effectiveness of your selection process.

 

The first step and probably the most important is to define what value means. This means spending a little bit of time with the leadership team clearly and explicitly defining what the goals and drivers are. You also need to be clear about what trade-offs they're willing to make between those goals and drivers. It ultimately takes the form of weighted criteria that you can use to assess your project request.

 

There is a hidden danger here however. The fact that you have a list of weighted criteria does not mean that you have an agreement over the definition of value. This is the critical mistake that most PPM vendors make and it brings us to our next must-have capability for any prioritization process... collaboration.

 

Your portfolio of projects, and the project prioritization process, is not owned by any one person. Your portfolio exists to support the business and within the business there are multiple key stakeholders. Unless you build amongst the stakeholders a common and explicit understanding of your goals you're wasting your time.

 

There are several ways of doing this effectively. Generally they fall into the category of methodologies called multi-criteria decision making. My favourite is the analytic hierarchy process or AHP. I find it to be intuitive and simple and to be a very powerful way to build both understanding and consensus. AHP is built on over 40 years of decision-science research, leveraging discovering from psychology and neuroscience along the way. So there is, literally, some science behind it.

 

Without this kind of structured collaboration, it's very unlikely that your definition of value will be something that everybody really buys in to, and if your stakeholders don't buy in to the weighting, they won't buy in to the portfolio. Dec 08

 

The third key process is scoring your projects against those criteria. Again collaboration is key. Ideally you want relevant experts to assess the different aspects of a project. You want a financial analyst to assess net present value while a senior Project Manager assesses risk. What you don't want is a bunch of executives sitting in a room making random judgments.

 

Now you have your scoring against weighted criteria done, you should have a clear picture of which projects offer the most value. Finding a good portfolio however, is not as simple as just selecting the projects that deliver the highest value. Its value for money that matters. Optimizing a portfolio to deliver the most value for a given set of constraints (multiple budgets, people, resources) in an environment here you have dependencies between projects (e.g. if I want project B, I have to also do project A), is not straight forward.

 

Again there are tools to help. They range from a simple list of project requests ordered by value-for-money in which works for simple situations (not many constraints or dependencies) to highly effective algorithms that can do all the number crunching for you, balancing multiple constraints and dependencies, to deliver an optimized portfolio.

 

Where a simple method isn't enough, our preferred methodology is linear programming. I know it sounds scary but there are tools out there (including ours) that can help you do it without knowing any of the theory. You just have to enter project dependencies and resource constraints and the tools can do the rest.

 

So to have the necessary capabilities for a good valid prioritization process you need;

•  to define value

•  a consensus building mechanism

•  to be able to leverage expert knowledge and then

• to optimize value delivery in the context of constraints and dependencies

 

This sounds complex but with the right tools it can be achieved very quickly and doesn't cost very much to do. And the pay-off is potentially huge; we often see 20 to 40% increase in the value delivered from the portfolio.

 

Now that's no placebo!

 

 

Are you a homeopathic PMO?