project management & adaptive leadership | …...•burn down charts •burn up charts “pmi”...
TRANSCRIPT
3 Things You Need to Make Better,
Faster, Decisions
Session Code: EM15LDR09
J. LeRoy Ward PMP, PgMP, PfMP, CSM, GWCPM, SCPM ESI International
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“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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Drug Development Project Economics 101
How much time and money does it take to develop a
drug? 11 years $1 Billion
Tufts Univ Center for the Study of Drug Development http://csdd tufts edu
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Drug Development Project Economics 101
Blockbuster Drug: $1 Billion/Yr $2.74 M/Day
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Drug Development Project Economics 101
Lipitor: $13.6 Billion/Yr $37.3 M/Day
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They’re driving me crazy…they never have enough data and they
just can’t seem to make up their minds!
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What does a project manager need to make better, faster, project decisions?
1. Accurate information, at frequent intervals, from reliable sources
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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What does a project manager need to make better, faster, project decisions?
1. Accurate information, at frequent intervals, from reliable sources
2. Willingness to make decisions under uncertain conditions
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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What does a project manager need to make better, faster, project decisions?
1. Accurate information, at frequent intervals, from reliable sources
2. Willingness to make decisions under uncertain conditions
3. A project governance structure that pushes decisions down to the lowest possible level
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Accurate information: what does it tell us?
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And, where do we find it?
Maybe it’s down here
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Accurate information tells us three things….
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What happened: the “past”
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What’s happening: the “present”
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What might happen: the “future”
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Information about the “past”
Project Reports –Cost –Schedule –Scope (Quality) –Resource use –Other information
• Burn down charts
• Burn up charts
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Information about the “past”
Wind
Currents
Project Reports –Cost –Schedule –Scope (Quality) –Resource use –Other information
• Burn down charts
• Burn up charts
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Information about the “past”
Than here
There’s more here
Project Reports –Cost –Schedule –Scope (Quality) –Resource use –Other information
• Burn down charts
• Burn up charts
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Information about the present
Where do I find this
stuff?
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Hey Raed, have you seen the project team
lately?
I wonder what those rascals are up to this
week!
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Information about the “present”
–“Stand-up” meetings
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Information about the “present”
–“Stand-up” meetings –MBWA
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Information about the “present”
–“Stand-up” meetings –MBWA –Speaking to
• Clients/Users • Sponsor • Executives • Team members
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Information about the “present”
–“Stand-up” meetings –MBWA –Speaking to
• Clients/Users • Sponsor • Executives • Team members
–Networking
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Information about the “present”
–“Stand-up” meetings –MBWA –Speaking to
• Clients/Users • Sponsor • Executives • Team members
–Networking –Remember, “never eat alone”
Maybe I should get
on Facebook
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Information about the “present”
–“Stand-up” meetings –MBWA –Speaking to
• Clients/Users • Sponsor • Executives • Team members
–Networking –Remember, “never eat alone”
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It’s all about being in the “zone”
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…and knowing where your iceberg is headed!
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Now let’s talk about the future… If-then-this
If-then-that If-then-else Ouch! my
head hurts!
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Information about the future
•“Relentless” risk analysis •Tools and techniques
– Strategy meetings – Delphi technique – Monte Carlo Analysis – Earned Value Management
•Project “Leading Indicators” Consumer Confidence Index Stakeholder Confidence Index
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…at frequent intervals Your project
has its “vital signs”
too!
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From reliable sources
I’m over-budget by 50% and
behind schedule by
30%
Looks like he’s telling the truth!
He must be a PMP!
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What is the key to honest reporting?
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What is the key to honest reporting?
I’ll NEVER, EVER tell Farley the truth
on my project reports!
Farkas, If you go over-budget you’ll never work here
again!
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But what information should we be looking for?
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Be careful what you measure…it may be accurate but completely worthless!
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What does a project manager need to make better, faster, project decisions?
1. Accurate information, at frequent intervals, from reliable sources
2. Willingness to make decisions under uncertain conditions
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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Some people struggle to make timely decisions
USMC 70% solution Ask yourself these questions
– Is it better to do something, or nothing?
– How bad can it be? – Will I get fired if my decision doesn’t
work? – What’s my “track record”?
Use your network and all those tools and techniques
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…but they still can’t make a decision
You’ll be 6 months late if you don’t fire Anderstones
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Try this decision framework
From: HBR on Decision Making (Drucker; and Hammond, Keeney and Raiffa ) Smart Choices (Hammond, Keeney and Raiffa)
Agile Project Management (Highsmith)
Define the problem correctly Frame the decision Implement the decision Measure or Monitor the results
Define
Frame
Implement
Monitor
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…but if they continue to struggle
You’re fired!
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Let’s hit “pause” and see where we are!
1. Accurate information, at frequent intervals, from reliable sources
2. Willingness to make decision under uncertain conditions
3. A project governance structure that pushes decisions down to the lowest possible level
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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If you had to describe your current process would it look like this?
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Do you feel like you’re on trial?
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It’s a flatter world out there!
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What’s YOUR governance structure? Do you…
Let team members make decisions? Hold productive meetings? Support the escalation process?
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Law of “first knowledge”
What comes first is true It takes evidence to change……lots of evidence Believing is seeing
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Law of “first knowledge”
Family of cave people on a hunt Grandma eaten by a tiger What did they learn quickly?
– always hunt with the elderly – always run faster than
grandma – tigers are bad
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5 Ways to Speed Up Decision-making
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5 Ways to Speed Up Decision-making
Put real choices “on the table”
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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5 Ways to Speed Up Decision-making
Put real choices “on the table” Focus on decisions not discussions
Information sharing Discussions
Decisions (make them stick)
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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5 Ways to Speed Up Decision-making
Put real choices “on the table” Focus on decisions not discussions
Information sharing Discussions Decisions (make them stick)
Apply risk management through MBWA
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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5 Ways to Speed Up Decision-making
Put real choices “on the table” Focus on decisions not discussions
Information sharing Discussions Decisions (make them stick)
Apply risk management through MBWA Establish a “lean” governance structure
“PMI” is a registered trade and service mark of the Project Management Institute, Inc. ©2012 Permission is granted to PMI for PMI® Marketplace use only.
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5 Ways to Speed Up Decision-making
Put real choices “on the table” Focus on decisions not discussions
Information sharing Discussions Decisions (make them stick)
Apply risk management through MBWA Establish a “lean” governance structure Identify your project’s leading indicators
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J. LeRoy Ward
www.esi-intl.co.uk
Thanks for Listening!
+44 (0)20 3743 2910