Expectations Exceeded | The Project Management Scorecard: Measuring the Success of Project Management...

How to create a "project management culture" | The Project Management Scorecard: Measuring the Success of Project Management Solutions (Improving Human ... | G. Lynne Snead

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	• The Project Management Scorecard: Measuring the Success of Project Management Solutions (Improving Human ... G. Lynne Snead Butterworth-Heinemann, 2002 - 353 pages average customer review:based on 5 reviews view larger image
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highly recommended

Show the benefits of your project management improvement initiative

This book describes the way to assess a project management improvement initiative following the concept of the balanced scorecard. It uses a change stage approach that leads to a real ROI: from reaction/satisfaction (acceptance), learning, application/implementation, business impact and quantified ROI. It also provides advice on how to measure each of these stages. I have found the project follow-up questionnaire especially insightful.
At first, I found this book a bit confusing about whether it was trying to assess projects themselves or the project management initiative, but after a second look at it, I see it as is really useful if you need to show the benefits of implementing/developing project management in your organization.

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Expectations Exceeded

This book has a mundane title but could be titled "Everything you ever wanted to know about project success and then some". The Project Management Scorecard focuses on how to evaluate and measure the success of project management solutions. Given that failed projects are far more common than successful projects, executives are investing more time and money in developing project managers. This book recognizes the challenges in measuring the return on project management investment and provides clarity and techniques on how to overcome this obstacle.

The book is very thorough in its examination of the problems, process, and solutions to measuring project management success. First the authors break down the problem into its component parts, then they take a look at the project management process steps, and finally they present multiple approaches on how to create an effective scorecard and to use it to achieve desired results. The book includes not only straight-forward steps to follow, but also questionnaires and forms that can be easily used. Success stories and case studies are also included to illustrate major points.

Some of the topics include the following:
o Project management issues and challenges
o Changing corporate cultures
o Measuring reaction and satisfaction
o How to calculate and interpret and ROI
o Capturing business impact data
o Measuring skill and knowledge changes during the project
o Monitoring the true costs of the project
o Converting business measure to monetary values
o Forecasting ROI

This book provides a straight-forward approach to setting up and measuring project success. The authors have taken an onerous topic and provided clarity through simple techniques that can be easily adopted. If implemented, the solutions presented should siginificantly contribute to overall organizational success.

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How to create a "project management culture"

Having read and then reviewed three books co-authored by Robert S. Kaplan and David P. Norton (The Balanced Scorecard, The Strategy-Focused Organization, and Strategy Maps) as well as Paul R. Niven's Balanced Scorecard Step-by-Step, all of which I highly regard, I was especially interested in reading this book which the authors explain how to measure the success of project management solutions.

In the Preface, they assert that, currently, "there is no book that offers a comprehensive, practical presentation on a project management scorecard, using a process that meets the demands of [project managers, clients and senior managers who must approve project budgets, and evaluation researchers who develop, explore, and analyze new processes and techniques]. Most models and representations of the scorecard process ignore, or provide very little insight into, the two key elements essential to developing the scorecard: isolating the effects of project management solutions and converting data to monetary values." Others (notably Kaplan, Norton, and Niven) are far better qualified than I am to verify or dispute that claim. Of greater interest to me is how well organized and written this book is, and, how helpful I believe it will be, at least to project managers as well as to those who must approve project budgets. My Five Star rating speaks for itself.

Phillips, Bothell, and Snead present their material within four Parts: Setting the Stage (e.g. "Project Management Issues and Challenges), The Seven Measures (e.g. "How to Capture Business Impact Data"), Key Issues with the Measures (e.g. "How to Convert Business Measures to Monetary Values"), and Challenges (e.g. "Overcoming Resistance and Barriers to the Project Management Scorecard"). They conclude with an Appendix in which they suggest how to establish an effective project management culture. In it, they identify 16 "Best Practices" and include a brief case study example for each.

What I especially appreciate about this volume is the fact that the authors devote the bulk of their attention to explaining how to implement effectively the various concepts, strategies, and tactics they present. They are also to be commended for concluding each of the 16 chapters with a "Final Thoughts" section. This facilitates a convenient review when a reader wishes to review key points. In fact, I strongly recommend to project managers that they complete such a review at least every 90 days but, preferably, every 30 days throughout their project's duration.

As the authors correctly point out, "One of the greatest challenges is deciding which costs should be included in the project solution cost calculation. For some projects, certain costs are hidden and never included in the cost calculation. Our preference is a conservative one: Account for all costs, both direct and indirect."

There are several major cost categories:

Initial analysis and assessment
Development of solutions
Acquisition of solutions
Implementation and application
Maintenance and monitoring
Administrative support and overhead
Evaluation and reporting

For most projects, the authors recommend this sequence by which to convert data to monetary values:

1. First, define a unit of measure
2. Determine the monetary value of each unit
3. Calculate the change in performance data
4. Determine the annual rate (and amount) of change
5. Calculate the annual value of the improvement

"Costs are important and should be fully loaded in the ROI calculation. From a practical standpoint, some costs may be optional based on an organization's guidelines and philosophy. However, because of the scrutiny involved in the ROI calculations, it is recommended that all costs be included, even if this goes beyond the requirements of the policy."

In this volume, Phillips, Bothell, and Snead offer a wealth of information and counsel which can help achieve the ultimate success of almost any project in almost any organization. That success can then inform and guide efforts to create throughout the same organization a "project management culture."

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Essential for PMOs and mature project organizations

This book is ROI-focused and integrates the people and process elements of project management with a balanced scorecard approach. One of the authors, Jack J. Phillips, has extensive experience and a large published body of knowledge in the domains of HR, ROI and scorecard development. This book has his touch, and covers the essentials of a mature project organization, what to measure and how to measure it.

The approach is as follows:
1. Measure:
* reaction and satisfaction
* skill and knowledge churn during the project
* implementation and progress metrics throughout the project
2. From the metrics capture:
* business impact data
* ROI
3. Identify both tangible and intangible benefits and apply them to an aggregate 'true cost'.

The book also shows how to translate business metrics to dollar values, build a business case, and communicate status, based on the scorecard, to clients and stakeholders. This is essential for anyone who is setting up or managing a program management office or who wants to improve internal project managment processes. It also provides one of the best methods for communicating status to clients and upper management.

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Read it and start tailor, or design, own PM tools

I love this book! Why?
1. It is written in easy to read style, simple and direct; anyone with minimal PM expertise, culture will understand it
2. It is covering a wide range of tools and possibilities
3. Anyone can start design, or adjust her/his own tools immediately
4. A great refference for future, to come and review it from time to time
5. It is obvious the author has experience in practicing what he is preaching

Begginer PM practitioner will find a lot of good points, easy to catch and study for future.
Experienced PM experts will have an useful guide to improve or design their own PM tools and ideas to adjust their appeoaches and processes. Highly recommended!

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Return on Investment (ROI) remains one of the most challenging and intriguing issues facing human resource development and performance improvement professionals. Drawing on their expertise in developing and implementing ROI programs in human performance and training, Jack J. Phillips, Ph.D., Timothy W. Bothell and G. Lynn Snead demonstrate how you can effectively apply ROI to project management.

Today, almost every industry requires employees to manage multiple projects with competing priorities, critical deadlines, and unexpected interruptions-rendering everyone a project manager in some respect. Most employees feel the pressure of juggling any number of key projects simultaneously. Organizations have responded by investing large amounts of both time and money to improve project management, and most strive to justify the efforts and resources dedicated to improving this goal.

'The Project Management Scorecard' is a welcome relief for anyone managing a project or multiple projects, as well as the trainers, human resource development staff, or supervisors charged with measuring, evaluating, and managing project managers.

Project Management is one of the hottest topics in business management today, affecting nearly every individual in any organization across the globe. Let three HRD experts show you how to apply the hugely popular ROI process to the key organizational issue of successful project management including:

* Project management issues and challenges
* Measuring reaction and satisfaction
* How to calculate and interpret ROI
* Capturing business impact data
* Measuring skill and knowledge changes during the project
* Monitoring the true costs of the project solution
* Converting business measure to monetary values
* Forecasting ROI

The authors' step-by-step approach allows you to begin the ROI process immediately. Start measuring the success of your project management results today.

Three HRD experts show how to apply the hugely popular ROI process to the key organizational issue of successful project management.

Project Management is one of the hottest topics in business management today, affecting nearly every individual in any organization across the globe.

for more information click here

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