Knowledge & Project Management

Project Management knowledge has a value: for firms, that means benefit, i.e., gold.

On the web, one can find lots of knowledge but … most of it is either of no use or not benefit-convertible. Not to speak of disinformation or wrong information.

The web has become a battlefield (you may find examples), therefore the situation has gotten confused, information not so dependable and so on.

In a few words, web-based information is very often unsound or worse; even first-hand information on project management is often not dependable

On the other hand, if you can get real knowledge, benefits are real and gold is always pouring.

Project Management, Projects and Bonuses

You must be careful, for a project is a dynamic thing.

In a few words, things are going to change, no way; if you don’t adapt the project to the situation, the project is going to fail.

That is the reason why I, as a PRINCE2 Practitioner, keep in contact with the customer more often than foreseen by the book (Project Management methodology), i.e., I sometimes contact the customer even if we are not at stage’s end or going to go beyond tolerances.

Under these circumstances, how do you define a “performance bonus”?

Unless you want to produce a lengthy legal document, it is up to the customer to decide whether the bonus is due or not.

In the event, I prefer to do this: the customer is going to pay 80% of the due value; she/he will pay the remaining 20% if the project exceeds expectations. Call it discount, call it incentive, the customer is happy and I usually get the 20% bonus, for a happy customer very rarely doesn’t recognize due merits (i.e., greater than expected benefits for him).

Who is the most important Stakeholder in a Project?

The person/s who is going to pay for costs and get benefits.
Therefore, employees are excluded; true, they get the salary, but they can always change company.

This as for all the chatters about stakeholders. True, stakeholders are very important but … never forget the basic truth: you are working to bring home some money, not for glory.

I know … everyone says “The customer comes first”. Ok, maybe your firm is producing cars or whatever else for customers but … you are producing those cars to get benefits (profit, basically); that usually entails the customer being happy, that’s true, but never remember your final goal and polar star.

Unfortunately, this tend to get lost in the bush of soft skills, communication, team building and so on. Those factors are very important, indeed. Only, be sure to never ever forget the basic truth.

KPIs for Manifacturers, Project Management & PRINCE2

Manifacturers and KPI matters?

I know some perfect KPIs in this case: state of products and sub-products, i.e., completion percentage, time and cost to completion, costs sustained, benefits, and so on. Manifacturers like clear facts. If a product (mind, product, not process) is late, they will take all the necessary actions.

This is the reason why I always say lack of knowledge is the reason why project management in general and PRINCE2 in particular aren’t much used: if manifacturers knew what project management could do for them, they would be in a rush to adopt a serious methodology.

Btw, that is the reason why I use PRINCE2 for my projects: its product-based foundation leaves little or nothing to dreams, for one should always know the state of products. What could a manufacturer ask for, if not that?