Want to know how to create a winning business strategy? To define a winning business strategy, companies should always take into consideration all types of risks that may occur at every level of an organization. As risks are part of the company’s strategy, they can affect portfolios, programs, and even projects. There are two types of risks:  positive and negative. These risks can influence the organization based on how they are managed. Today, more than in the past, companies are benefiting from integrating strategic risk analysis into their overall management strategy and planning proce ..read more

Have you ever found out about a project in your organization’s project portfolio that impacted you, yet you were not contacted or involved? Have you ever had a stakeholder run across your testing playing field with additional scenarios right before your target implementation date? Missing a key stakeholder can have a devastating effect on how successfully your project portfolio delivers its strategy. Here are eight ways to find your project portfolio stakeholders before it is too late. Successful stakeholder analysis is crucial for establishing solid relationships, trust, and buy-in. The proce ..read more

“I cannot say whether things will get better if we change; what I can say is they must change if they are to get better. “ -Georg C. Lichtenberg Change management: ADKAR framework I have never seen the movie ‘When Harry Met Sally’ but the title comes to mind when I think of the ADKAR framework. That is because I can remember exactly when I ‘met’ ADKAR and wondered where it had been my whole career. If you are new to project management or change management, you will definitely benefit from taking a close look at the ADKAR framework that was developed in the 1990’s by Prosci. This useful tool i ..read more

Project goals and objectives are developed early in both project management and business analysis. In project management, goals and objectives are defined during the creation of the project charter. In business analysis, goals and objectives are defined during the needs assessment. In both areas, goals and objectives are often interchanged and misunderstood. The development of goals and objectives helps clarify the business need and the scope of either the project or the product. This is used exclusively to eliminate uncertainty and to align the project or the product with the goals and object ..read more

Portfolio management strategies for organizational transformation Portfolio management is a critical tool for organizations that seek to transform their operations and achieve their strategic objectives. In today’s business environment, where competition is fierce and market dynamics are constantly changing, organizations need to be agile, flexible, and responsive to customer needs. Portfolio management helps organizations align their investments with business goals, manage risks, and optimize resource utilization. According to a Project Management Institute (PMI) study, organizations that eff ..read more

“Communication leads to community, that is, to understanding, intimacy and mutual valuing.” — Rollo May Developing effective communication strategies is an essential part of project success. Paul Kesler discusses what successful communication looks like and why multi-dimensional communication holds the key. Clear communication is a key project management skill No matter how large or small your project is, maintaining clear communication throughout the team is essential to delivering a successful project on time and on budget. So often, this critical component of project management seems to get ..read more

Too many project priorities? Having more than one priority is the quickest way to diminish all of your priorities, especially your top priority. According to Dictionary.com, the word “priority” was coined around 1400, and it was not plural. Your organization’s top project priorities are more likely to be achieved effectively when other priorities are not a distraction. “Priority” is not the same as “importance” Hopefully, you work in an organization where every project portfolio has important programs and projects that deliver a strategy (and none that are not). Priority determines the right t ..read more

In this PMWorld 360 video, Alison Mills-Long discusses what project plans are and why they are important in project management. She also explains why a project plan is more than just a task list. Alison touches on the elements that are included in a project plan and provide viewers with a project plan template.     Check out the project plan table of contents template below. Project Plan Table of Contents Example   Similar Content: How to create a winning requirements traceability matrix When two is one and one is none: Why having a backup plan is crucial in project manag ..read more

Studies report that most firms, especially private ones, are usually focused on increasing their profit over time. At the same time, these companies need to achieve their strategic goals by relying on a limited amount of resources. Medium and large organizations generally implement their strategies by executing projects and programs in their business lines. Project Portfolio Management can help companies reach their goals by selecting the most valuable projects and assigning them to different project portfolios. In this article, we will discuss the steps to creating a project portfolio. Type o ..read more

Learn about how and when to use Agile methodology. Over countless years and projects, Project Managers (PMs) have been working to define a better, faster, and easier way to deal with the need for structure. From this work comes most methodologies and standards that are in existence today. One major problem that often gets PMs in trouble during a project concerns the discrepancy between their understanding and the executive’s understanding of how fast a project can be executed when utilizing Agile methodologies. First, before we go any further with this article, I want to say that I have nothin ..read more