Journyx Project Management Blog

Congratulations! You made it to the world of “C” level executives and earned a place at the leadership table; you are the new Chief Project Officer (CPO). You have made it to the “Show”, the big leagues. And that is the good news and the bad news all at the same time. For now you have to shift gears, forget about all that you thought was critical to your success and learn a whole new playbook. Take it from me and all the IT executives who have graduated to the ranks of CIO: It’s a whole new ball game. Lucky for you, the CIOs who have gone before you have myriad lessons learned and are willing to share. So take heed: You are not in Kansas anymore, Toto.

You see, while all your project and portfolio management skills were important in getting you here, they are now a given and expected at a minimum and, because of that, don’t count for spit, unless of course you fail at doing them flawlessly. What matters now is your ability to work shoulder-to-shoulder with your peers—you know, the CFO, CIO, COO, etc. It isn’t good enough to just deliver the goods, demonstrate superb financial acumen, achieve strategic initiatives; that is all expected now. What really matters, what will keep you at the table, is your ability to fit in, build respect and trust, and mostly your ability to get along with the top dogs. Yep, you got it. Welcome to the world of politics.

As the CPO, you will be expected by the enterprise to bring home the project bacon. Everyone is looking to you for the “Wisdom of Solomon” in deciding which projects should be pursued and which ones should be sidelined or shelved. All eyes are on you to shepherd the organization through the torrent of projects that are in constant flux, to achieve success while complying with ever-increasing governance concerns. While you may report to the CEO, you serve many masters. Like the CIO, you operate cross-functionally at the highest levels of visibility. Falter and you will get flogged. Succeed and you might get a thank you. Just as CIO can mean Career Is Over, so might CPO come to mean, Career is Probably Over.

So here are some of the lessons learned by me and other CIOs related to becoming a very successful C-level executive.

Lesson 1: Be Bold - CEOs want Warriors not Wimps
When I took the reins as the CIO of a large hotel and casino, I was encouraged to take my time, get to know the lay of the land, let it all sink in for 90 days. In short I was encouraged by everyone but the CEO (my boss) to do nothing. And I listened… BIG MISTAKE. Trust me on this, as a CPO you need to come in with a roar not a whimper. You need to trust your instincts, make sweeping changes if need be and TAKE CONTROL, especially if you are replacing someone who was seen to be ineffective.

Learn the other lessons at Chief Project Officer.

This is the third article in a series about the Seven Deadly Project Sins.

In this narrative, I will continue to focus on some of the “soft-elements” of the project, some temptations that the project manager needs to be on the lookout for in order to foster success on the project.

The Seven Deadly Project Sins as I have defined them are:

* Elitism
* Project Envy
* Resource Gluttony
* Project Lust
* Personalization
* Over-allocation of Resources
* Best Practice Sloth

The third Deadly Project Sin – Resource Gluttony can affect you and your ability to accomplish projects as a project manager.

On the Internet at www.wikipedia.com you can view this definition of gluttony:

“gluttony is the over-indulgence and over-consumption of food, drink, or intoxicants to the point of waste.”

Project Gluttony involves obtaining resources and hoarding them on your project to the detriment of other enterprise projects; over-consuming resources to the point of waste.

How does Project Gluttony happen?

The project manager becomes selfish, inconsiderate and unconcerned about other projects in the enterprise. The project manager obtains resources and gives them work assignments in order to tie these resources to the project to keep them working on the project. When asked about resource utilization and availability, the project manager responds in a deceptive or elusive manner, stating that the resources are being used and are not available – even though the resources might have some level of availability.

I am sure that no one reading this narrative has ever personally done this. But I bet you know someone in your organization that you think has hidden resources and hoarded resources – and has prevented you (or someone else) from obtaining adequate resources for a project.

Read the rest at PM World Today.

Here is an interesting little fact: Year to year GDP growth volatility for America has dropped from 3.5% in the early 80’s to .5% today. This means that back then you couldn’t predict from one year to the next how fast the economy would grow. Recessions were harder and booms were boomier.

In this day and age, however, things are more stable. Economists have termed this the “Great Moderation.” But what changed to cause the economy to become less bumpy?

A recent article in “The Economist” magazine (9/22 p. 35 – The Turning Point) summarizes reams of academic literature to deliver 3 causes.

Economic growth has become less volatile due to:

* Larger more flexible and diverse credit markets

* Smarter central banks – the fed has gotten much better at keeping inflation down.

Alan Greenspan recently argued that he was lucky and that his job was made much easier over the last 20 years by the globalization that was accelerated by the fall of the Berlin wall. Half of the globe got thrown into the free market economy and that helped keep a lid on wage pressures, even in the face of rapid economic growth and low unemployment in America.

* Improvements in managing inventory born of supply chain management software and the abilities of companies like Fed-Ex (one of our customers) and UPS.

Look at that last one again. To think that something as mundane as supply chain management software could make the world’s economy safer for billions of people. How is this possible?

50 years ago, warehouses were full of inventory that represented a huge capital investment, and slight changes in consumer demand could have large effects on the economy. Inventory levels were once much larger relative to the size of the economy and small changes in demand could blow up into recession.

Thanks to improvements in technology, firms now have better market intelligence on customer demand and they now produce things in smaller batches – sometimes batches of one – which allows them to match production to demand very precisely.

Some companies like Dell in my city (Austin, Texas) have no inventory at all other than that which is currently in transit via Fed-Ex or UPS.

And this sort of business is literally saving the world.

- Curt Finch, Journyx CEO

What is Complexity?

Project complexity is often recognized in a general way, but not completely understood by everyone. Just the term “complexity” causes some degree of difficulty because of the different interpretations given the definition and perhaps a person’s experiences and training. Exploring the fundamental meaning of “complex” is helpful in establishing a foundation from which to build.

“Complex” comes from the Latin word complexus, meaning entwined or twisted together. Complexus is also defined as an aggregate of parts. Complex can be interpreted as an item having two or more components – or two or more variables. Synonyms for complex include complicated, intricate, involved, tangled, and knotty.

The opposite of “complex” is viewed as “simple,” which gives only two results — simple deals with only one part and complex deals with two or more parts acting together. From this we can see that “complex” situations have a range of results that one might classify as low complexity, medium complexity, or high complexity. There could be other schemes whereby complexity is measured on a scale of 0 to 3, 0 to 5, or 0 to 10. Using a numeric scale, the “0” would equate to simplicity or no complexity.

This brief introduction of definitions gives the impression that all projects have some degree of complexity. Anticipating the degree of complexity and planning to manage actions to meet the situations effectively requires an understanding of project details and project implementation strategy.

Download the entire pdf file at asapm.

This document is second in a series about the Seven Deadly Project Sins.

In this narrative, I want to focus on some of the “soft-elements” of the project, some temptations that the project manager needs to be on the lookout for in order to foster success on the project.

The Seven Deadly Project Sins as I have defined them are:

- Elitism
- Project Envy
- Resource Gluttony
- Project Lust
- Personalization
- Over-allocation of Resources
- Best Practice Sloth

The second Deadly Project Sin – Project Envy can affect you as a project manager.

On the Internet at www.wikipedia.com you can view this definition of envy:

“Envy is an emotion that “occurs when a person lacks another’s superior quality, achievement, or possession and either desires it or wishes that the other lacked it.” At the core of envy seems to be an upward social comparison that threatens a person’s self esteem: another person has something that the envier considers to be important to have. However, what is envied could also be something that is only of personal importance to the envier, even if what the other person has is of little significance in his or her society, or even seen as a sign of inferior status. If the other person is perceived to be similar to the envier, the aroused envy will be particularly intense, because it signals to the envier that it just as well could have been him or her who had the desired object.

Project Envy can affect the project manager’s ability to function, to grow and to be effective in the organization.

Read the rest at PM World Today.

“At the end of the day, our attention is all that we have.” - Ken Burns

Ken Burns is my favorite filmmaker. He understands the value of time.

Time is more fleeting today than it has ever been before.

Business people currently confront overwhelming demands on their time. Time has become more critical than money, but most companies don’t yet allocate it with the same care as they would more traditional assets.

Most managers understand that time must be managed, accounted for, and invested in ways that maximize return, but this is easier said than done. Companies seldom possess the right processes and infrastructure to make the most of time resources. They often confuse the core business process of time resource allocation with simple timesheets or time management calendars. This is as dangerous as confusing a simple check register with their capital investment strategy.

To allocate and manage any resource, it must first be seen clearly and then tracked carefully. Time tracking should be a fundamental part of any business. Almost every business tracks time at some level, even if only for payroll.

At the most basic level, some companies employ a simplistic, homegrown system that is based on spreadsheets or paper. Even companies that have fully automated time tracking systems sometimes fail to leverage those systems to drive profits up and costs down.

Leveraging such systems isn’t easy. Some companies understand the potential gains associated with managing time as an asset, but they lack the knowledge, tools or resolve to actually do so. Many others succumb to a misinformed, unnecessary distrust of time tracking. Still others mistakenly believe that time tracking systems are simple, and as a result, they internally develop or buy inadequate systems that fail to deliver real value to the entire enterprise.

A well functioning time tracking system should lead to automation of payroll, client billing and above all, project accounting. If it doesn’t, you’re missing out on much of the value.

- Curt Finch, Journyx CEO

Without technology, you wouldn’t have a business. And yet, information technology staffs often do not have an integrated view of how technology enables their company to make money.

Getting that knowledge and providing it to your staff should be a priority, says Todd Davis, vice president of property systems development and administration for Choice Hotels International, the franchiser of such brands as Comfort Inn, Clarion and Econolodge. When your staff knows where the money comes from and where it goes, they are better able to see opportunities to differentiate the company from the competition.

While it’s true that some IT departments are content in playing the traditional role of service provider, the majority needs to play a larger role in facilitating corporate innovation and growth, says Chris Potts, director of the IT consultancy Dominic Barrow.

The key, says Potts, is to get beyond mere IT-business alignment—which implies that IT and the business are separate entities. Instead, IT leaders advise, shoot for a higher degree of IT-business integration through which IT is embedded in business decisions.

To accomplish that integration, everyone in IT has to learn how the business makes money and how to use that information to generate new innovations and revenue opportunities. Doing so helps you to increase IT’s value to the organization. Here are three ways to make that happen.

Think Like a CEO and a CFO

At the top of every CEO’s and CFO’s mind is the fact that for every dollar coming in the front door, a portion is going out the back in the form of costs. Studying that equation can help you discover ways to save and generate revenue.

Read the rest at CIO.com.

Early Greek theologians originally identified eight wicked life characteristics that the individual should avoid lest they be punished in the afterlife. Christianity modified these eight elements into a shorter list that has been euphemistically labeled the “Seven Deadly Sins”. By theological assertion, the individual who practices the deadly sins or who falls into temptation from these deadly sins will be punished eternally in the afterlife.

Project Management has a group of “Deadly Sins” that the project manager can be tempted by. Punishment for practicing these sins often does not wait for the afterlife or the after-project. Punishment is many times swift and career changing.

In this narrative, I want to focus on some of the “soft-elements” of the project, some temptations that the project manager needs to be on the lookout for in order to foster success on the project.

The Seven Deadly Sins as defined by theologians are:

- Pride
- Envy
- Gluttony
- Lust
- Anger
- Greed
- Sloth

This document is the first in a series about the Seven Deadly Project Sins. Our first deadly project sin is “Elitism”.

Elitism affects many projects and many project managers.

On the Internet at www.wikipedia.com you can view this definition of elitism:

“Elitism is the belief or attitude that those individuals who are considered members of the elite — a select group of people with outstanding personal abilities, intellect, wealth, specialized training or experience, or other distinctive attributes — are those whose views on a matter are to be taken the most seriously or carry the most weight; whose views and/or actions are mostly likely to be constructive to society as a whole; or whose extraordinary skills, abilities or wisdom render them especially fit to govern.

Read more at PM World Today.

There is a mantra in the venture capital community that goes something like this:

“If you build a better mousetrap, nobody will care because the ones we have already work fine.”

I am not generally well-liked by venture capitalists for some reason, perhaps in part because I have always felt that if I built a better mousetrap, that the world might in fact actually beat a path to my door.

How about a rat trap with its own web server that tells you where the mice are headed, where their base of operations is and which traps are full? How about a mousetrap that interacts with your staff to save them time, increase health and lower costs?

Apparently I am not alone in this supposition because a British firm has, in fact, gone and done just that. The Economist magazine published an interesting article about the better mousetrap.

According to the company’s press release:

The Rentokil team will also use a new product called RADAR (Rodent Activated Detection And Riddance). As soon as a rodent enters the RADAR unit, the pressure sensitive pads detect its presence and automatically close the doors. The unit then releases a measured dose of carbon dioxide into the sealed chamber killing the rodent quickly and humanely with no release of toxins. RADAR is able to then send an email or text message notifying the Rentokil technician of the capture and extermination.

Furthermore, according to The Economist:

Since June 2006 thousands of digital mousetraps have been put in big buildings and venues such as London’s new Wembley Stadium. The traps communicate with central hubs that connect to the internet via the mobile network to alert staff if a creature is caught. The system provides a wealth of information. The data it collects and analyses on when and where rodents are caught enable building managers to place traps more effectively and alert them to a new outbreak.

A number of innovations had to come together in order to upgrade the humble mousetrap. Wireless chips have got smaller, better and less expensive. Sensors require less power. Batteries last longer. Many other companies have also started to pay attention to these advantages, adding wireless features to objects and machines to enhance their performance and open up new revenue streams.

- Curt Finch, Journyx CEO

How long have we been hearing about this TJX mess? It’s hard to believe, but the news broke last January: Intruders had stolen credit card transaction data about customers of T.J. Maxx, Marshalls and other TJX stores. Back then, TJX claimed that “a limited number” of customers were affected. “And by ‘limited’ we mean substantially less than millions,” a spokeswoman said.

Last week, we got a harder number: 94 million customers.

How could TJX have been so spectacularly wrong?

One word: optimism.

Oh sure, these people might just be lying SOBs who deliberately covered up the awful news. But what we know suggests they really were concerned — just clueless as to how bad it could get.

Consider this: Back in January, TJX thought the breach came in mid-May 2006. But within weeks, an investigation by IBM and General Dynamics found that the first intrusion had happened almost a year earlier, in July 2005 — not seven but 17 months before it was discovered.

In January, TJX said the number of customers affected was under a million. But the New Hampshire Bankers Association, which represents banks that issue credit cards in that state, estimated that up to 4 million people were affected just in New England.

By March, TJX’s estimate had ballooned to 45.6 million credit accounts in filings with the U.S. Securities and Exchange Commission. The company is still officially sticking with that number. But in court filings last week, a group of banks said that 94 million separate credit and debit card accounts were affected — 65 million Visa accounts and 29 million MasterCard accounts.

That’s 100 times TJX’s first estimate, and so astonishingly out of whack with the original statement that if it was an intentional lie, it was doomed to be unbelievable from the start.

But optimism? Yeah, we can believe that.

After all, IT people know how seductively dangerous optimism can be. It’s the reason we routinely overrun project budgets and timelines. It’s why user training always takes longer and is less effective than we expect it to be. It’s the root cause of most of our software problems and hardware headaches.

We underestimate what can go wrong. And when it does, we’re not prepared. In fact, we’re blindsided.

Read the entire article at ComputerWorld.