Project management value initiative, Project Management

Assignment Help:

Project Management Value Initiative

The project management initiative program is a six step process which is designed to bring about a measurement team from the introduction to the project management-focused measurements through the design, the development and the implementation of the project management value measurement program. The value initiative program focuses on educating the measurement team on the project management value measurement program. This helps the team to understand the program and enables them to clearly recognise the program's goals and objectives. The organisational construct which will affect the project management value measurement program are the stakeholders, the organisational mission and strategies, the organisational structure, the key business process, the project management maturity, the prior project management improvement initiatives, the present measurement systems and the data availability.

There are six steps in the project initiative program which are as follows:

1.  Measurement readiness planning - In this the measurement initiative is clearly understood and aligned to support the organisation's strategy which is an essential element to support the sustained success of the initiative. The primary  project management, business unit and organisational goals influence the developmental measures of project management. The organisational goals and objectives include the reduced costs, the improved quality, the improved timing and the improved productivity. The project management aims and objectives include more predictable project performance and more repeatable project performance.

2.  Initiative  Planning  -  In  this,  the  team  will  align  itself  around  the measurement program's objectives, the scope, the   development approach, the timeline, the deliverables and the implementation strategy. It will develop the project management initiative plan and the project management initiative schedule.

3.  Measures  development  -  In  this,  the  team  develops  and  also prioritises the initial list of the measures for the scorecard. It is the initial pass at recognising and measuring with the primary activity. A comprehensive list of measure is created keeping in mind that they will have to be logically linked to the aims. The measurement will also have to meet the criteria for the good measures. This would mean that the measures chosen should provide the meaningful information. It should be supported by valid data which is cost effective to capture. It should be accepted by the stakeholders, repeatable and also actionable.

4.  Scorecard development - In this, the team will review the prioritised measures information created to date and develop the measure packages and the consistent project management value scorecard. The team will first engage in the measures review, prioritise the validation, and measure the package definition. The information is then used to construct the scorecard for review and also be accepted by the measurement team in the preparation for implementation. The measure package will include:

  • Measure (What) - The data which has to be collected has to be clearly recognised
  • Objective (Why) - The measures objective must be clearly defined
  • Data capture (How) - The mechanism for collecting the data should be recognised
  • Timing (When) - The timing of the data collected should be defined

5. Measurement program Implementation Planning - In this, the framework around the measurement processes and the data collection will be used to support the ongoing measures program implementation. The main activities will include the development of the implementation strategy and the process. The project value measurement program process describes the systematic approach to the project management performance measures, collecting, analysing, and reviewing using the performance  data. This  data can  be  used to drive  the  performance improvement.

6.  Measurement program implementation - Here, there will an ongoing effort to execute the program as it is documented in the implementation plan. The measure packages can be used to reinforce the data requirements, the collection timing and also the data contact responsibilities.


Related Discussions:- Project management value initiative

Explain dupont formula, While the industry average ROE is about 15%, averag...

While the industry average ROE is about 15%, average profit margin of 50%, asset efficiency of 10%, and leverage ratio of 3, the ROE for ABC, Inc., using data from January 2011, wa

What are the skills required by a project manager, Question: a) What ...

Question: a) What are the skills required by a project manager? b) What are the basic principle stages in a project life cycle? c) Suppose you are involved in the pl

Design and implement company network infrastructure, Network Infrastructure...

Network Infrastructure: This project will require replacement of major networking components throughout the office. Virtualization will result in increased speed and reliability f

PERT Network Analysis, Solve the following CPM/PERT Network Analysis proble...

Solve the following CPM/PERT Network Analysis problem: Given the following network and activity time estimates, determine (ES, LS, EF, LF) earliest and latest activity times, slac

Outline at least three steps common to pert and cpm, QUESTION (a) Feasi...

QUESTION (a) Feasibility Study is a preliminary study undertaken before a real work of a project start what factors should the project manager take into consideration while con

Equity valuation, a) Provide a detailed evaluation of an equity investment ...

a) Provide a detailed evaluation of an equity investment decision in the current economic climate. Your briefing should include: i)  A review of the 'top-down' analysis tha

Explain about the term project planning document, Explain about the term pr...

Explain about the term project planning document. A project planning document (PPD): Project planning document will usually consist of a project technical and resource pl

Process of taking disciplinary action, T, a member of the finance team, has...

T, a member of the finance team, has been constantly arriving late to work and in recent months he has consistently made significant errors in his work. A number of colleagues have

Define the guidelines for software development program, Define the Guidelin...

Define the Guidelines for Software Development Program In this part we have known some common parameters as checkpoints for the assessment of some software development project.

Aggregate planning, Aggregate planning is an operational method that does ...

Aggregate planning is an operational method that does an aggregate plan for the production procedure, in advance of 2 to 18 months, to provide an idea to management as to what amo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd