Project and Portfolio Management Experts

Jamal Moustafaev

Jamal is an author of two books dedicated to
project, portfolio and scope management:

Before you go any further, let us conduct a quick survey. Below you will find ten symptoms of a company that is in dire need of project management and/or project portfolio management. Go ahead, read through the list and count how many of these characteristics can be attributed to your organization:

  1. Unexpected issues and problems arise in the middle of projects
  2. Communications seem to be ad-hoc; too often important stakeholders are not informed about key decisions
  3. Project's requirements are never clearly defined
  4. Project managers and functional managers (department directors and managers) constantly fight over resources.
  5. Priorities of the projects initiated by the executives constantly change, resulting in quick resource reassignments.
  6. There is a chronic shortage of resources at the organization. Employees are constantly complaining about being overworked, while the managers insist that they must roll up their sleeves and work harder
  7. Projects are frequently late and/or over budget and/or do not deliver the full scope promised and the quality of the project product is low
  8. Even if the strategic idea is implemented, the company sometimes fails to achieve the expected improvement or fails to receive any value from the said project at all
  9. The strategic plan – even if the company has one - is presented as a list of projects, but the cause-effect logic tying those initiatives to the company’s mission, goals and the strategy is absent
  10. The list of company projects is not prioritized. Therefore it is assumed that all of these initiatives must be started and implemented more or less simultaneously

Did you count more than five symptoms present at your company? We can help! We offer project management, project portfolio management consulting and training services to help get your business back on track.

Please contact me directly via email at jamal@thinktankconsulting.ca or by phone +1-778-995-4396.

I look forward to hearing from you.

 

Jamal Moustafaev, MBA, PMP

President & CEO

Thinktank Consulting, Inc.

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Article - What is the Most Important Project Document?

 

If you ask a person studying for a PMP exam, what is the most important area in the domain of project management, the correct answer is "communications". After all it has been documented that on average project manager spends up to 90% of his/her time performing communication activities such as conducting meetings, writing project documents and potentially eliciting requirements via one-on-one interviews.

While I wholeheartedly agree with this notion, I tend to think that the domain of communications is a bit too general to be designated as "the most important thing in project management". I would like to offer to look at this issue from a slightly different perspective:

If you were allowed to write just one project document on your project, which one would you choose?

My answer to this question is the “Requirements Specifications Document”. While some of you may vehemently disagree with me and mention Project Charter and Project Plan. But let us just think about this for a while. The domain of project management is divided into ten knowledge areas (see Figure 1)

Figure 1

project-management-knowledge-areas.PNG

Let us examine the impact of scope on other knowledge areas:

Time Management: If you don't have a detailed requirements document can you develop a work breakdown structure and create a network diagram (project schedule)?

Example: The project can take way longer if the customer decides to add a “swimming pool” feature to his villa design.

Budget Management: Can you create a detailed project budget - including human resources required and expenses on equipment and materials - until you have a baselined requirements document?

Example: Will the customer choose a $5-per-square-foot type of flooring or a $150-per-square-foot one?

Quality Management: Can you define the acceptable quality levels and tolerances until you know all of features of the product?

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Infographic - Project Portfolio Management Model - Electric Utility Service Provider

 

Infographic - PPM Model - Electric Utility Service Provider.png

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.

Infographic - Project Portfolio Management Model - Electric Transmission Operator

 

Infographic-PPM-Model-Electric-Transmission-Operator.png

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.

Infographic - Project Portfolio Management Model - Chemical Products Company

 

Infographic - PPM Model - Chemical Products_1.png

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.

Infographic - Project Portfolio Management Model - Construction Materials Manufacturer

 

Infographic - PPM Model - Construction Materials Manufacturer.png

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.

Article - Should Project Portfolio Models Be Complicated?

 

Let us conduct a psychological experiment. Which formula do you think will yield a more precise and accurate result:

formula1.JPG

or

formula2.JPG

I guarantee that the majority of the readers will select the second formula as the one that would provide the best result. Unfortunately nothing can be further from the truth because any formula is as good as the data going into it. Some of you may have heard the following expression used by statisticians:

Garbage in, garbage out

It basically means that, no matter how complicated the formula is, if you “infuse” it with inaccurate data, the model will produce an inaccurate answer. Having said that take a closer look at the formulas above: the first model only has two ingredients, while the second one has multiple variables. Hence with a larger number of variables we end up with more room for estimation errors.

Why did I start this article with such a strange example? I have recently taught a project portfolio management course in London, UK and the following conversation took place between a Portfolio Manager of a large utility company and your humble servant:

PM: Oh, our executives will never sign up for PPM. We tried it before and it didn’t work

Me: Why didn’t it work?

PM: Well take a look here … (proceeds to show me a very complicated spreadsheet that incorporates not one, not two, but three scoring models for different types of projects at the same company. In order to assess the project proposal one has to answer several dozen questions by selecting appropriate choices from the dropdown menus. Once the choices are made, the spreadsheet “tells” you which scoring model to use. The models are also far from simple; close to a dozen scoring categories with five different potential scores for each variable …)

Me: So, did you use that model?

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Infographic - Project Portfolio Management Model - Medical Devices Manufacturer

 

Infographic - PPM Model - Medical Devices.png

 

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.

Infographic - Project Portfolio Management Model - Electronics Product Company

 

 

Infographic - Project Portfolio Management Model - Electronics Product Company

 

About the Author

Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, US, Asia, Europe and Middle East.  Read Jamal’s Blog @ www.thinktankconsulting.ca

Jamal is an author of two very popular books: Delivering Exceptional Project Results: A Practical Guide to Project Selection, Scoping, Estimation and Management and Project Scope Management: A Practical Guide to Requirements for Engineering, Product, Construction, IT and Enterprise Projects.

Please share, your support is appreciated.