Infographic - 30 Impacts of a Change Request

 

Use this when assessing your next change request!

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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 three very popular books: 

Joke of the Day - Somewhere in a Parallel Universe...

 

This is too funny. I am sure most project managers can relate :)

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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 three very popular books: 

Found on the Web - 15 Project Management Terms you Should Know Infographic

 

Found this on eLearningInfographics.com. Very useful info to share with your project stakeholders!

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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 three very popular books: 

Article - Top 10 Ways Human Psychology Screws Up Our Projects

 

Way #1 - We Force Ourselves to Make Estimation Ranges Narrower

Ask anyone to estimate something. Anything, really. For example, ask them what is the distance between New York and Paris (5,839 km or 3,628 miles), and request that they provide you with a range that they are 90% confident in. Rather than saying, “Well, If you need a 90% confidence, then I would go with something like 5,000 km and 15,000 km”, they will provide you instead with very narrow ranges (say, 6,000 – 6,500 km) that are very close to the actual number but yet miss the target.  As a result, “90% confident” usually translates to “20-40% confident”.

Way #2 - We Suffer from the Optimism Bias

Humans constantly underestimate the complexity of the tasks assigned to them and chronically overestimate their ability to accomplish the said tasks (read more about this topic here and here).

Way #3 - We Fail to See the Connection Between Estimates and Probabilities

We have a very hard time understanding that as soon as someone asked us to estimate the duration of the project, we – whether we like it or not – have entered the realm of probabilities. Some of the questions that will affect the answer to the request above are:

  • Will the customer want Feature X?
  • Will the customer want the “Honda Civic” or “Ferrari” version of Feature X?
  • If you implement the “Honda Civic” version of Feature X, will the customer later change his mind and demand the “Ferrari” version after all?
  • How will Feature X be designed?
  • How long will it take to debug and correct mistakes made in implementing Feature X?

Way #4 - We Tend to Think of Projects as One-Dimensional Entities

We tend to focus on just one dimension of the project. Usually it is either the time or money, e.g. “can you finish by next Friday?” or “my budget is capped at $10,000”.

What we neglect to see that every project has (at least) five dimensions:

Announcing my New Online Course: Project Management Fundamentals for Professionals

 

Hi all,

I do have a very exciting announcement to make. After a lot of research, setting up my office as a recording studio and many recording sessions we have finally published my first project management course “Project Management Fundamentals for Professionals” on Udemy.

Just to test run this workshop and obtain viewer feedback I am offering a 75% discount on this course to ALL of my contacts (or their friends). In other words, the full price of the course is $60 and you have a chance to take it at $15.

If you are interested, please leave your email address here I will forward you the link to the discounted version. My only request is that you leave a positive review on Udemy if you find the course to be to your liking!

You May Need This Course If:

  • Projects experience budget, scope and time overruns
  • Unexpected issues and problems arise in the middle of projects
  • There always seems to be way more work than resources available
  • Your employees are working long hours and on weekends
  • Quality of the project product is low
  • Communications seem to be ad-hoc; too often important stakeholders are not informed about key decisions
  • Project's requirements are never clearly defined
  • Scope increases, but the schedule slips because no additional resources are provided
  • Specifications are satisfied, but the customers are not
  • You seem to be spending more time fixing issues from previous releases rather than working on "new" products...

Who Is the Target Audience?

  • Young professionals who are just entering the workforce.
  • “Technical resources” whose work is crucial to the project success.
  • Professionals who are not certified project managers but manage projects anyways.
  • Project and program managers who run projects and supply executives with key information.
  • Sales and Marketing people who interact with customers and gather their feedback and requirements.

Course Outline

Podcast - Episode 387 - Project Portfolio Management with Jamal Moustafaev

 

Project Portfolio Management

I was recently interviewed by Cornelius Fichtner from The Project Management Podcast about Project Portfolio Management. Here is the interview:

Click here to listen to this interview right now:

Here is what Cornelius writes about the interview:

Project Portfolio Management and the realization that strategic alignment of all projects within an organization is crucial are both gaining ground. And this realization also emphasizes the need for having solid project selection methods.

But how exactly do you do all of this? The number of books that focus on practical advice for implementing a strategic project portfolio management process is quite small. Lucky for us that a new one with exactly that focus has just been published.

The new book is titled Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World (Best Practices and Advances in Program Management) written by Jamal Moustafaev (https://ca.linkedin.com/in/jmoustafaev. In our discussion, we answer these questions:

  • What is project portfolio management?
  • What are the three pillars of strategic PPM?
  • What are some project selection models that support a company's strategy?
  • How do we achieve strategic alignment?

About The PM Podcast: Launched in 2005, The Project Management Podcast is hosted by Cornelius Fichtner, PMP, CSM who helps you with your PMP Training in his “real” job. The podcast wants to bring project management to beginners and experts and has done so by publishing hundreds of interviews with project managers from around the world. They are free on http://www.project-management-podcast.com/free.

Article - Project Negotiations Conundrum - What Would You Do?

 

One of the most important lessons I learned after spending close to 20 years in the project management profession is that the underlying interests, constraints and risk tolerances of the project team and other stakeholders – especially customers - are never identical. As a result of this proposition we can derive the following project management axiom:

Good project manager can increase the size of the pie by looking for things that are of low cost to him and his team and high value to the customers (and vice versa).

One of the best examples of this technique is demonstrated in the so-called “Orange Fable”:

Two kids (a boy and a girl) are quarrelling over an orange. Their father enters the room and, operating under the “fixed pie” assumption, cuts the orange in two equal halves. And then he notices that the brother ate the orange and threw away the peel, while his daughter used the peel from her half as an ingredient in pastry while disposing of the fruit. At that point of time the father realizes that had he asked the question “What do you need this orange for?”, he would have doubled the size of the pie for both parties involved!

Here is another example of this technique used on a real project. A relatively small construction company lands a very lucrative deal to build a shopping mall for a large and established real estate management company. All the contracts have been discussed and signed when a project manager from the construction company receives a call from a representative of the real estate management organization…

Customer: “I would like to add another clause to our contract. If the work is on the new mall not finished by the deadline in the contract, I want your company to pay a penalty of $5,000,000”

PM: “Hmm, we have already signed the contract without the late penalty clause; I am not sure how our management would react to that …”

Customer: “I am sorry, but I have been instructed by my boss not to proceed ahead without this modification to the contract”

PM: “And may I ask you why do you, guys, feel the need to add this clause?”

Infographic - Aggregate Project Portfolio Management Statistics Across Multiple Industries

 

This is the final installment of my Project Portfolio Management infographics describing PPM models in various industries. This particular post presents aggregate statistics from a variety of industries: energy, logistics, financial, government, pharma, product development, professional services and telecom.

For more information please see my book  “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” that has just been released by Auerbach Publications.

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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 three very popular books: 

Infographic - Project Portfolio Management in the Professional Services Industry

 

I have got some exciting news recently! My third book “Project Portfolio Management in Theory and Practice: Thirty Case Studies from around the World” has just been released by Auerbach Publications.

So, to commemorate this event, I will be publishing a series of infographics dedicated to project portfolio management models in various sectors. Todays industry is Professional Services.

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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 three very popular books: