Senior executives often see Project Management as an operational or tactical activity. If you are in a position where you have to convince senior executives to use Project Management, below are a few pointers that can help:
Executive Framing
Identify the following benefits of utilizing a globally recognized, industry standard framework (PMBoK) for managing the project to the organization:
- Reducing stress - horizontally and vertically across the organizationLess internal & external conflict
- Increased understanding of the project and its purpose
- Clarification and alignment with Comprehensive Community Development Plan (CCDP)
- Ability to define and control project scope
- Prioritization of functional and project activities
- Ability to identify, monitor and track milestones
- Accurate projection of resource requirements
- Capability and mechanisms to measure performance
- Improved assessment and mitigation of project risks
- Improved communication amongst project participants
- Better communication throughout the organization
- Identification and communication of problem areas
Alignment
Lining up Project Management with:
- The organization's strategic plan and associated corporate goals
- Senior executive expectations
- Meeting stakeholder expectations
Wealth/Wellbeing Value Statements
Defines the wealth/wellbeing value to the organization of the project. A wealth/wellbeing value statement considers both tangible and intangible outcomes of the project
- Tangible - Financial, Vocational
- Intangible - Family, Social, Physical, Spiritual and Mental
Managing scope, quality, time and budget
Includes:
- In the Planning Process Group - the development of a performance measurement baseline for the project. See Appendix A, Figure 1
- In the Implementation Process Group – using earned value analysis for monitoring and controlling performance See Appendix A, Figure 2
Appendix A | Earned Value Management - Definition & Terms
Definition
A methodology that assesses both schedule and cost performance through the concept of earned value, the monetary value of work actually completed
Terms
Earned Value
Budgeted cost of completed work to the reference point
Planned Value
Authorized budget for scheduled work
Actual Cost
Amount of money spent
Figure 1
Figure 2
