In the dynamic world of project management, maintaining control over project spending is crucial for ensuring success and meeting stakeholder expectations. When project expenses spiral out of control, it can jeopardize timelines, quality, and overall project goals. One of the most effective tools to regain control is a well-crafted project scope statement. This document … [Read more...]
By now most people have heard about the disaster of the OceanGate Titan, the underwater submersible that imploded on its way down to the Titanic wreck site carrying five billionaires on a tourist mission. I'm genuinely surprised about how little the project management community is talking about this, because the lessons appear to be vast. Although the cause is not … [Read more...]
When Airbus faced delays in delivering the A380 Superjumbo in 2005 and 2006, software glitches weren’t the only fallout. The second delay tanked the share price by 26% and cost executives their jobs. This high-stakes saga reveals a core truth of project management: even a flawlessly executed plan falls short if the stakeholders aren’t satisfied. But who exactly are … [Read more...]
There's nothing more aggravating than cheering or the underdog and then watching the favorite team win with what seems like a complete stroke of luck. But ask anyone who has played a sport. The lucky bounces always seem to go to the better team. It seems to defy logic when a shot results in a lucky bounce that has very little to do with skill. You inspect and … [Read more...]
Project success criteria are sometimes fickle and elusive things. On paper, the budget and schedule feature prominently in every project. After all, a project is defined as a temporary endeavor to create a unique product or service. But most projects have a host of other criteria, like product quality, third party stakeholders, or end user evaluation results. And to … [Read more...]
When a patient is first wheeled into the emergency room, the first priority of any doctor is their vital signs, that is, pulse, breathing, body temperature, and blood pressure. Regardless of the injury, if the vital signs are not stable the patient is dying and all efforts must be directed toward stabilizing them prior to treating the original injury. Project management … [Read more...]
If projects had a share price, they would trade low at the beginning. Instead of completed work that has intrinsic value, the project's stock price would be derived from future hopes and dreams. And there would be many things that could happen between now and then to derail the most ambitious of plans. Near the end, however, most of the project work has been completed … [Read more...]
How would you feel if your boss gave you a 23% raise? That's how much the Project Management Institute reports that certified project managers earn over and above non-certified ones. Job security also increased substantially over the 33,000 professionals surveyed in 37 countries. So how do you become a part of this club? I've been part of it for 14 years, and in … [Read more...]
Some projects are considered successes even though they did some things I'd probably lose my career over. And others are considered horrible failures even though I could probably find a way to navigate through their issues. It's almost like there's a certain element of human interaction that all of the project methodologies in the world can't put into neat boxes and … [Read more...]
Like many things in life, project management is an art form as well as a science. It's a delicate dance, a blend where intuition meets precision. While some may possess a natural flair for orchestrating chaos into order, the true mastery of this craft lies in understanding its scientific backbone. Fortunately, you don’t need to be a born artist to excel; a solid grasp … [Read more...]
