Ms. Singh comes to YOUR Work-Desk for 30 mins

 

You might have scanned through my earlier post on 'Revisions & Updates to PMBOK® Guide 4th Edition'.

 

While that gives an overview of the extent of revisions, for practitioners it is important to know the specifics to be able to apply it to their work.

 

Well, I did not want to share some lengthy piece of text here, so I bring for you a WEBCAST that will take you through the changes in just 30 mins - for FREE!

 

URL to access: http://www.edistalearning.com/Webinars/webinar.asp 

 

All those who are well versed with the 3rd edition of the PMBOK® Guide will be able to familiarise themselves with the 4th edition after going through the capsule.

 

Btw, the quality of the audio and video may not be great, but is good enough to make sense I hope.

 

Keep Learning, Keep Sharing, Keep Applying...

 

To Complete Performance Index (TCPI)

The Earned Value Management (EVM) technique is quite exhaustive but effective for Project Management.

 

As the technique is being widely accepted and implemented on projects, the degree of rigor is as well increasing.

 

Organisations are monitoring projects on CPI and SPI, that indicates the health of the project, while EAC gives a forecast of the expected cost expenditure based on the current status. But if the forecasted EAC or the expected BAC has to be met, what should be the Cost Performance in the forthcoming reporting periods?

 

The 'To Complete Performance Index' answers the question. It provides a projection of the anticipated performance required to achieve the targetted BAC or EAC. The formula to compute:

 

TCPI =   BAC - EV  [if BAC is to be achieved]

            BAC - AC

 

TCPI =   BAC - EV  [if EAC is to be achieved]

            EAC - AC

 

An easy way to understand this is - while CPI is the current Run-Rate (as in the game of cricket), TCPI is the required Run-Rate calculated cumulatively.

 

Easy!!!

 

 

Taking Stock

Work is quite an important aspect of life; very demanding. The identities, to a great extent, are derived from the Business Card that one holds; so it better be IMPRESSIVE! World over the anxieties went high with lay-offs and pay-cuts, posing a threat to an identity crisis. There was a sudden realization of how important it is to:

• be GOOD in what you deliver
• be CREDIBLE and RESPONSIBLE
• have an EDGE above others
• IMPROVE continuously
• be PROFESSIONAL

Management is busy re-designing, re-structuring, re-engineering policies, re-defining, and re-calculating, re-visiting investments. Individuals are spending efforts in re-looking options for fall-back (if need be), developing skills, and being cautious in spending.

The scenario is calling for better Governance structures, and much better Portfolio Management. An effective PMO is the need of the hour. It is never too late.

The 're' exercises are keeping my hands full. A visit to an automobile manufacturing plant last week was fascinating. While interacting with the Champions of their Operational Excellence Team I learnt – they make 6 to 8 thousand units per day per plant. Most interestingly, they don't keep an inventory greater than ONE day! All the units are sold the same day on the gate! Quite contradictory to the state of economy I am talking about above... Surely, it is because of the presence of strong governance structures. They want to improvise further, and this engagement with them will be quite interesting J

Amidst all, words of wisdom – 'work to earn a living, and not just live to work'

Happy Living