Welcome. Success verses Folklore In Project Management Risk Management Managing the Chaos. Dee Thomas, Rhino Management LLC

Transcription

1 Welcome Success verses Folklore In Project Management Risk Management Managing the Chaos

2 Objectives Golden Rules of Risk Management Myths of Management Leadership Style

3 When It Comes To Risk Hope Is Not A Strategy Risk is Defined As What level is your organization? What level is your project? Risk Maturity Model 1997 Naïve risk organization Novice risk organization Normalized risk organization Natural Level 4

4 Risk = Constraints + Assumptions Quality Scope WBS, Deliverables

5 Steps to Risk Management 1. Getting Started: What are the triple constraints? 2. Identify Risks in the Project - Preventive actions and Enhancement actions 3. Prioritize the Risks - What are the chances? How bad would it be? - Identify Triggers for each risk

6 Steps to Risk Management 4. Build the response plan - Assign ownership to each risk 5. Take Action - Implement Risk Response when needed 6. Communicate Risk Reporting 7. Risk Monitor and Review - New risks, new responses, success of plan 8. Document what s been learned

7 Golden Rules of Risk Management Make Risk Management Part of Your Project Identify Risks Early in Your Project Preventive actions and Enhancement Actions Plan Against Both Positive and Negative Risks Assign Ownership to Risk

8 Golden Rules of Risk Management Not all risks are equal PRIORITIZE RISK Analyze Risk Yellow or Red Status Milestone accomplishment Tracking Earned Value Plan and Implement Risk Responses Managing Critical Path The need to communicate effectively with your customers will come up again & again & again.bill Gates

9 Risk Management Planning + Solid Project Management Practices Plan, Track, Report

10 Risk Management Known/Unknowns Contingency Reserves Known Unknowns Risks that you know can happen Something taking longer then planned Management Reserves Unknown Unknowns Risk events you cannot forecast potentially happening on a project Natural Disaster

11 Things to Consider in Risk Management What is your risk organization model? Risk Plan: People Backup Internal and External Risks Market Conditions Changes to technology Risk Monitor & Control Assess impact to scope changes Change control process - is it written does everyone comply 1-11

12 Things To Consider in Risk Management Triggers clear, unambiguous that either yield a Go or No Go decision. Be clear when trigger point has been reached and what the next step is Milestone reports Earn Value assessment Critical Chain and Critical Path management

13 Developing the Project Team Gettin' good players is easy. Gettin' 'em to play together is the hard part.. Casey Stengel 13

14 What Makes A Great Team? Effective teams function on the strength and skills of all members. 14

15 Qualities Of A Great Team Communication How we listen, how we resolve conflict, how we reach consensus. set the ground rules Commitment to the team s success Only the team can provide the solution A Common Goal Were are we going, how will we get there, why do we care? Everyone contributes What s your understanding of the objective? What do you need to succeed? What Can I Do To help you? 15

16 Developing the Project Team 4 Stages of Team Development/PMI 5 Motivational Theories 16

17 Teams Evolve Through Four Stages Performing Norming Forming Stormin g 17

18 Motivational Theories External motivators: stock options, company car, training, extra time off Internal: motivators: specific to the individual part of their nature But how can we use this? 18

19 Maslow s Hierarchy of Needs Self-actualization Self-esteem: respect for self Social Needs: sense of belonging, acceptance Safety & Security Basic physical needs: food, shelter 19

20 Getting to the Performing Stage Recognize the Motivational theories Add Rewards and Recognition. Proportional to the achievement Don t reward negative behavior Given for above and beyond Remember culture differences and individual preferences. 20

21 Conflict Resolution Confrontational, called Problem Solving, best way to resolve conflict. PM s should use most often, it s a win-win Understanding what motivates key stakeholders and customers can mean the difference between project success and project failure Think win - win 21

22 Summary Recognize good teams can grow into great teams Power of Leadership Learn and Use your knowledge to grow others Sharpen Your Saw Look for Win Win outcomes Confront the problem: assertion isn t aggression The most effective leaders understand that their job is to make the team function..peter Drucker 22

23 Tips for Success Demonstrate your ability to get things done Nurture a strong sense of common commitment to shared goals Focus on building a team, not on friendship 23

24 Management and Folklore Knowledge workers can t be just managed, the task is to lead and the goal is to make productive the specific strengths and knowledge of every individual Peter Drucker Primal Leadership, Daniel Goleman

25 Leadership Styles Visionary Coaching Affiliative Democratic Pacesetting Commanding Leadership is the art of getting someone else to do something you want done because he wants to do it. Dwight D. Eisenhower

26 5 Top Management Myths 1. Managers wield significant authority 2. Authority flows from the manager s position Management is doing things right, leadership is doing the right things. Peter Drucker Becoming the Boss, L. Hill, Harvard Business Article, 2007

27 5 Top Management Myths 3. Managers must control their direct reports 4. Managers must focus on forging good individual relationships 5. The manager s job is to ensure things run smoothly

28 Risk Management + Best Practices + Great Teams What Makes A Great Team? Effective teams function on the strength and skills of all members. 28

29 Recommended References 1. Jim Collins: Good to Great 2. Stephen Covey: The Seven Habits of Highly Effective People 3. Daniel Goleman: Primal Leadership: Learning to Lead with Emotional Intelligence

30 Questions? Thank you for attending.

31 How to Claim Your PDU Go to ccrs.pmi.org/ Search for ASPE as a Registered Education Provider. Our number is 2161 At the bottom of our details page, select See Provider s Activities Find the activity code stated by the moderator during the presentation: WS The seminars are Category A (formerly category 3) for one PDU.