All Around there's lot to Learn and Appreciate...

We concluded the Project Management Leadership Conference, in New Delhi, this week - Yes, we did !! There was a gathering of 150+

While there is some unrest on the work front, learning or knowledge sharing or building networks is important and cannot be compromised. It is very satisfying to be an enabler in the process...

The hall was oozing with energy and enthusiasm. There were some strickingly good presentations made, that shared some rich insights:

-> Vinod K (L&T) showcased a case study of a mega project worth USD283 million, that also got them a PMI award !! It was like fresh air amidst majority of the speakers from an IT background. While project management has its challenges, the speaker made daunting projects look achievable.

-> NBS (CSC) shared very powerful thoughts on Skills and Competency, with some ways to measure and build them around. The small things about forming, building and nurturing a team can have big results was the take-away. One point that I completly believe and would agree with NBS is - when there is a choice between the Right ATTITUDE and the Right SKILL, always go with the person with the Right Attitude - Skill can be developed.

-> Hemant Julka (Emirates) was adored by all because of his really cool ways of presentation. With a collar mike tugged firmly, he decided not to get to the podium and moved around the entire hall - talking and interacting with delegates - thats what I call Awesome! One of the statistics that he shared, which was coming from the findings/forecasts of a research firm, took everyone by surprise. It says - the overall IT spend of companies is going to reduce drastically in the year 2009. The IT project managers must hold on to their projects really hard, and close them Damn well, it could be the last project to manage !!!

-> Raj Kalady (PMI India) on the other hand shared some other statistics that were pretty optimistic - the demand for Project Managers is expected to be FORTY times more than what we currently have!!!

Not sure which data is more precise/reliable, and why. We just got the news of BT laying off 2000 people from their BPO in India! It is difficult to predict everything, you are the best one to study the environmental factors around yourself and make an informed decision. But it does require regular monitoring...

The emphasis is on accuracy of data, and to have the basics right, and the rest will fall into place. My sincere best wishes are with Nandan, as he takes charge of the National ID project. It made me think of ways to contribute towards the betterment of our locality or city or country or the society in general - every bit counts.

Changing topic -
The city of Mumbai just added a landmark to its map - the Bandra Worli sea link - the spectacular 4.7kms Cable stayed bridge that runs over the sea just got completed with a cost of 750cr - HCC has carried out marvelous engineering and made an Impossible bridge come Alive! It already has a traffic of 30 thousand vehicles running per day, may take some time to smoothen out the operations. I wanted to experience it at the first available opportunity. The drive was worth it - AMAZING - worth repeating!!!
We need more such mega projects...

Living Green - Yes, we can...

No doubt it is a very familiar subject that I am referring to, and we all are aware of what this means to us, but how many of us contribute to it..? Is it really possible to live a carbon free 'Green life'???

The Energy Resources Institute (http://www.teriin.org) is one such place where one can witness this in action. A couple of days spent in the company of scientists and biotech engineers in TERI was fulfilling and memorable experience. It was overwhelming to see the knowledge being put to such constructive use. WoW is the word.

The campus - no one could ever imagine that such a place existed in the midst of a concrete city!!! The entire campus runs only on solar energy. They have battery operated cars. The airconditioning is done using the air which is sucked from 30metres under the ground, and the temperature at this depth is 25.6 degrees at all times - did you know this? The campus has green buildings. They have inhouse nursery where many variety of plants are grown and also plantation related tests are carried out to have good quality seeds etc for agri purposes. They have a lavish golf course too and one can become a member to enjoy it (will do that on retirement) :)

The institute is funded by Ratan Tata - he is a leader !!!

While there are big initiatives under way, our small contributions like - use of white lamps, use of less plastic, wear cotton/jute, walk rather than drive to the gym that is just around the corner, use stairs rather than elevators to the second/third floor etc does make a difference.

Do keep contributing

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

PMP Vs Prince2

One question that I am often asked is - How is PMP different from PRINCE2?

 

This piece of comprehension is an attempt to answer this question to whatever detail that can be appropriate over a blog posting.

 

FAQ	PMP	PRINCE2
What is it	A Credential	A Credential
What does it stand for	PMP - Project Management Professional	PRINCE - PRojects In Controlled Environment
Certifying body	Project Management Institute (PMI), USA	APM Group, London, UK
What is the exam based on	PMBOK Guide	PRINCE2 Manual
Who can write the exam (eligibility)	Any professional with a Graduate* degree, 35PDUs**, and 4500hrs (about 5-6yrs) of Project Management experience may write the exam	No such defined eligibility criteria
How many exams should one write to get the credential	One	One for PRINCE2 Foundation One for PRINCE2 Practitioner
Where can one write the exam	From any authorized prometric centre. It is a computer based test (Paper Based option also available for selected locations). Its an Objective type Exam.	Through any Accredited Training Organisation (ATO). It is a paper based exam. Its an Objective type exam, and is open-book (only PRINCE2 Manual is permissable)
What is the duration of the Exam	4 Hrs	Foundation Exam - 1 Hr Practitioner Exam - 3 Hrs
How many questions to be answered	200 questions (one mark each)	Foundation Exam - 75 (one mark each) Practitioner Exam - 9 (40 marks each)
What is the passing score	106 out of 175, i.e. about 60.6% (25 questions are Pretest questions)	Foundation Exam - 38 out of 75 Practitioner Exam - 180 out of 360
What is the current (as on Apr 09) standard applicable for the Exam	PMBOK Guide 4th Edition	PRINCE2 Manual - Nov 2005 version
When will it be next updated	Year 2012 (Revised every four years)	June 2009 (No particular revision schedule)
What is the history behind	PMI was formed in 1969. Project Management Body of Knowledge is a collection of best practices from across industries, and out of that came a framework i.e. PMBOK Guide. The first version was released in 1996.	PRINCE2 was relesed in 1996 as a generic project management method. It is a property of the Office of Government Commerce (OGC), London.
What is the framework design	PMBOK Guide identifies Nine Knowledge Areas and Five Process Groups. Within the Knowledge Areas and Process Groups are 42 processes using which the Project Manager can manage the project systematically. Each process is further explained by identified Inputs, Tools & Techniques, and Outputs.	PRINCE2 Manual (Nov 2005 version) defines Eight Components, Eight Process Groups, and Three techniques. Across process groups are 45 sub processes that are adopted for management of a project.
Which one is better	The standard is a suggestive model and it may not apply to all projects all the times, with the same degree of rigor.	The model defines a step-by-step method of managing a project that allows little deviation for compliance.
Which one is used more widely	While both are good models for management of projects, PMBOK Guide gives more liberty to the project manager to adopt the model as appropriate for the project. This however requires high PM maturity, for better application. It is widely followed world-wide.	PRINCE2 defines a step-by-step method for management of projects, hence the PM needs to simply adopt it as-is and does not demand high maturity. But the prescriptive nature of the model is often considered a constraint, as it may/may not be applicable to all projects in the same manner. It is widely followed in the UK and Europe, and also by companies doing business in these regions
Where can one find more information	www.pmi.org	www.apmgroup.co.uk

 

Please note - the information above is based on my current knowledge and understanding till date. Any inputs to add accuracy and detail are most welcome.

 

Also, I would certainly like to refrain from explaining the standards here as it is a daunting job, plus there are plenty of other sources available online for that purpose.......Google it and you will get 184million links!! :-)

 

Happy Learning...

 

 

PMBOK® Guide - 4th Edition ::: Revisions & Important Dates

Dear Professionals,

Hope you are well, and putting your Project Management skills to best use.

I have been wanting to start a blog that is work related but time became the biggest constraint. Thanks to the Blogspot option to post from e-mail - it just made things so very simple!!!

The PMI® has released the PMBOK® Guide 4th Edition, and it is important that one is apprised of the changes to practice the latest and best of standards. This post is all about that...

The changes from the 3rd edition towards the 4th edition have been in the following areas:

• Consistency - This aspect relates to the use of standard verbiage across the document for easy understanding and implementation.
  
• Clarification - Some areas of the 3rd edition were quite ambigous wherein there were very thin line between certain processes and/or outputs etc, like - Project Charter and Preliminary Scope Statement, or Project Management Plan and Project documents. The 4th edition has attempted to resolve any ambiguity to provide clarifications regarding process interactions, and data flow diagrams have been added to clarify the Input-Output relation between processes. The latest edition also clarifies the Product description of the components by listing down its elements.

Also, items like Change requests, Corrective actions, Preventive actions, Defect repair, and requested changes have all been put under one general term, i.e. Change Request.

• Process Changes: The changes to the Framework has resulted in Deletion of two processes, two processes have been added, and four processes of Procurement Management have been merged into two. Hence, adding upto a total of Forty Two (42) processes, against 44 in the third edition.
  
• Process Group-wise changes: The 4th edition has the following break-up of processes in each of the Process groups:

Initiating Process group: 2
Planning Process group: 20
Executing Process group: 8
Monitoring & Controlling Process group: 10
Closing Process group: 2

• Knowledge Area-wise changes: The 4th edition has the following break-up of processes in each of the Knowledge Area:

Integration Management: 6
Scope Management: 5
Time Management: 6
Cost Management: 3
Quality Management: 3
HR Management: 4
Communication Management: 5
Risk Management: 6
Procurement Management: 4

• Appendices: A new appendix (G) on skill requirement for a Project Manager has been added.
  
• Glossary: Improved and updated to include all the latest terms as per the 4th edition.

In addition to the changes, its important to be aprised of the important dates w.r.t. the examination. The schedule of the examination(s) getting updated is as below:

Credential ExaminationUpdated
PMP® 30 June 2009
CAPM® 31 July 2009
PMI-SPSM 31 August 2009
PMI-RMPSM 31 August 2009
PgMP® 31 August 2009

If you intend to write the examination(s), you may want to know the general reference to be used:

Exam	Planned Date to sit for Examination	Study recommendation*
PMP®	Prior to 30 June 2009	PMBOK® Guide—Third Edition
PMP®	After 30 June 2009	PMBOK® Guide—Fourth Edition
CAPM®	Prior to 31 July 2009	PMBOK® Guide—Third Edition
CAPM®	After 31 July 2009	PMBOK® Guide—Fourth Edition
PMI-SPSM	Prior to 31 August 2009	PMBOK® Guide—Third Edition
PMI-SPSM	After 31 August 2009	PMBOK® Guide—Fourth Edition
PMI-RMPSM	Prior to 31 August 2009	PMBOK® Guide—Third Edition
PMI-RMPSM	After 31 August 2009	PMBOK® Guide—Fourth Edition
PgMP®	Prior to 31 August 2009	The Standard for Program Management—First Edition; PMBOK® Guide—Third Edition
PgMP®	After 31 August 2009	The Standard for Program Management—Second Edition; PMBOK® Guide—Fourth Edition

For more details on the PMBOK® Guide 4th edition, and for other schedules, check www.pmi.org.
Come and join us on the 5th International Project Management Leadership Conference [PML2009] in New Delhi: http://www.qaiglobal.com/minisites/PML-2009/index.htm
Did you check the new website dedicated to PM - www.pmdioxide.com

Wishing you success and fulfilling returns.