Winning with Talent Management: Three Real-Life Examples

The wrong person in the wrong role costs real money.  Studies suggest bad hires cost 250% of the role’s salary. In other words, a bad $100K hire will cost you $250K! And when it comes to  the cost of a bad project manager, look at it this way: , what was the size of your last failed project: $1 million, $10 million, $100 million?

You win the talent game with the best talent. But how do you identify “best”? PM College has a tried-and-tested Competency Assessment Program that helps you find and develop the best project managers. Three of our leading clients are using it to get a competitive edge:

“We want to offer learning and development that our talent really needs.” Talent development and training are two critical drivers of job satisfaction, loyalty, and engagement.  These are the sweet spots for our assessments: to develop and sustain superior project management performance.

PMO leaders at a long-time client need to target their training, thereby eliminating unnecessary training programs. The PM College assessment program will do this, ensuring more return from their learning investments. They also want the assessment to  not only discover project managers with the most potential, but also to inform job assignment and development opportunities.

“We need to make sure that new hires can deliver our projects.” Bad hiring decisions drive eighty percent of employee turnover. Another PM College client requires absolute on-time delivery for every project: a hour late is a crisis; a day late can be a national disaster.  Their project managers need to be the best of the best … from Day One. Catching a single bad hire before the offer letter will provide a huge and immediate payoff.

We are working with this client to develop a profile of the ideal candidate, based upon assessments of their current staff. PM College will also use this profile to develop a set of interview guidelines to evaluate candidates on the most critical personality and knowledge topics, in order to target development plans for current project managers.

“We work in an emerging, fast-growing industry.” Organizational agility defines today’s most admired and innovative project-driven organizations. We are working with a global client to extend our standard assessment to cover two additional competency areas: industry and organizational knowledge. Just as PM College can deliver custom learning, we can also create custom assessment packages at a great value. This client will use the results to verify that its current – and future – project managers can keep up with its explosive growth and unique culture.

Are you ready to find, develop, and hire better project talent? Contact PM College now

Benefits Realization: Demonstrating Initiatives’ Value

Debbie Crawford just taught a refreshed version of our Benefits Realization class. The topic is one that bedevils PMOs, largely because it takes a while to figure out that it’s not a closing phase task. In other words, it has to be planned, executed, monitored, controlled, and delivered…just like any other initiative deliverable. Below is an overview of the class:

Benefits are not just another dimension of portfolio management, but are the basic rationale for any investment of funds.  As such, benefits should drive those investment or change decisions from initiation through implementation and beyond. It is the methodology needed by any organization intent on effectively demonstrating that desired benefits are achieved in practice.

This course, built on a wealth of real world experience and lessons learned, will engage the participants in achieving:

  1. Increased organizational ability to forecast benefits which are complete, realizable, and represent real value for the money. In other words, we are investing in the right things and getting them done.
  2. Realize forecasted benefits in practice by ensuring the required enabling, business, and behavioral change takes place; ensuring that the performance of the benefit matches the business case promise.
  3. Realize benefits as early as possible and sustain that realization for as long as possible.
  4. Capture and leverage emergent or unplanned benefits (and minimize any dis-benefits) to optimize the benefits realized and the value for money is achieved.
  5. The organization’s ability to demonstrate the above – not just as part of the framework of accountability but also so that we learn what works as a basis for continuous improvement.

The Biotech IT PMO 2.0

As a CIO, you have either made – or heard – recommendations to create an IT project management office. Perhaps you have implemented one, and your department is reaping the benefits of project planning, monitoring, and controlling. IT delivers its projects on time, on budget, and to spec. Congratulations! You and your IT PMO have put the foundation of consistent innovation in place.

Nevertheless, it is no more than a foundation. A PMO must…

For more, see the full article at CIO Review.

High performing project management orgs are more agile — PMI

The Project Management Institute’s latest “Pulse of the Profession” report just came out, and it’s full of provoking findings. It clarifies the benefits of high-performing project management, and it highlights what the top organizations do differently. By the way, the “PMI Pulse” is a nice complement to the McKinsey report on building capabilities I wrote on last week.

So what does it mean to your organization if it’s a project management top performer? It means that you deliver more value and waste fewer resources:

…these organizations meet original goals and business intent two-and-a-half times more often than those in low performing organizations (90 percent vs. 36 percent). High-performing organizations also waste about 13 times less money than low performers. — PMI Pulse, page 6

Did you know that these top performers used agile techniques more often than other organizations? This use of agile, iterative, and incremental methods drove better organizational agility. In turn, this better agility allows for faster and more effective responses to competitive, technological, regulatory, or other external challenges. PMI found that the most agile delivered against business, cost, and schedule goals between 20 to 50 percent better than the least agile. Agile also means better top and bottom lines: the PMI Pulse report references a MIT study that found agile firms grew revenue 37 percent faster than non-agile firms, while generating 30 percent better profitability.

To that end, PM College has greatly expanded it’s agile curriculum, from the basics, to an Agile Bootcamp, to negotiating Agile vs. Waterfall, to PMI Agile and ScrumMaster certification prep.

Agile principles have a been a lifesaver on a number of my projects and programs. If nothing else, an agile education gets you and your organization thinking and working the agile way…even before you implement any methodology at all.

Portents of Impending Doom

...and another thing: I told everyone that we needed daily meetings!

How do you know if a project or program is going off the rails?  IMO, the first signs show up where you might expect, in communications.  Remember that the core of project communications consists of presenting the progress, status, and forecast for the various elements the project is supposed to deliver.

Perhaps that is the first sign: project communications don’t substantively cover at least one of those three elements.  For example, I get worried when issue reviews only contain the issues’ current condition (status) with giving a sense of what was done (progress) or what remains to be done (forecast). 

Neglecting or ignoring an issue’s “bigger” picture — e.g., a timeline of what was done and what comes next — has been a warning sign that there isn’t much of a plan behind those issues.  Without putting the issues into context, the review can devolve into an “Airing of Grievances” that has nothing to do with moving the project forward.

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