Risk Analysis - The likelihood and Consequences

Risk Analysis is a process of quantifying the likelihood of each risks evolve and their impact on the projects. Risk analysis is done following the below process:

• Categorize Risks

• Risk Probability Impact Assessment – For each risk identified, assess the risk in terms of likelihood of occurrence and its effect on project objectives if the risk event occurs.You can use different scoring system to express the likelihood that a risk will occur. One of them are probability of occurrence, where you express probability the risk to occur in percentage with 100 percent means the risk will always occur. You can use category ranking using Very Low, Low, Medium, High and Very High to represent the likelihood for the risk to happen.

• Prioritize Risks – Risks that meet the threshold criteria will be recorded in the Risk Response Plan.

Plan Risk Management and Identify project risks

The first step toward controlling project risks are identifying them. As part of the risk management plan, identify the project risks that may result from each of your risk categories. Then assess the effect of the risk may have on your project and decide how you want to manage this.

Examples of risk categories: Requirements, Benefits, Schedule, Budget, Deliverable, Scope, Issues, Supplier, Accetance, Communication and Resource.


How to consider potential project risks when you are developing project plan? and How to identify project risks?

• Review past record of problems in similar situations - If unexpected occurrence for particular project risks in the past you definitely want to prepare for it this time.

• Brainstorm with experts and related people who has experience  - Gathering information through brainstorming session from source of experts will reduce the chances of you overlook important project risks. You can include project manager, project team members, end users, other project managers, stakeholders and risk management expert.

• Be specific - The more specifically you describe your project risks, the better you can assess its potential effect. 

Identify project risks is a iterative process because new risk may evolve and become known as the project progresses.

Most teams are subject to constant risk of meeting their objectives. The key to success lies in how you manage risks, by putting in place a clear risk management plan. This process describes the steps taken to mitigate risk as it occurs, helping you to meet your team goals more easily.

Risk management plan template shows you all of the steps you need to take to implement risk management Plan in your organization. By using this risk management plan to monitor and control risk, you can ensure you meet your team objectives. Within this risk management plan, all of the steps need to mitigate risk are described in detail.

Project Management Books

Project Management Books is a Guide to Success


A project books is somewhat better known as project management books. This is a collection of instructions on how to properly manage people in the work place that are part of your team. Knowing how to get the most of your team with the talents they already posses are the key to being a good manager. This includes what motivates them and what discourages them.

The project management books that is followed can make the difference in the outcome of the project, if it is followed correctly. When looking at the different ones available, peek into the table of content to see what is really in it.

There should be a section on:

• people management,
• managing time,
• financial
• and budget management.

 
Other issues that should be covered are communications, risks, issues, problem solving, reports, and how to properly structure a project from beginning to end.






There should be, within project management books, a section on what is basic on managing a project. This would be best covered if there is a step-by-step approach to planning, scheduling, and executing of a project. There should also be ideas on how to properly track the progress of the project at every stage along the way.

Additionally, the project management books should also contain a section on more advanced and complex issues. This should include how and what should be reported during and at the conclusion of a project. Knowing what should be reported and to whom, can make the difference whether you will be given another project, as a project manager, in the future.

The difference between a project management books that helps to guide and one that can really give a manager the edge is when a section on “value to the customer” is present. Knowing how to spot what adds value to a product for a customer can help significantly on improving a revenue stream. The more value a product has to a client, the greater the price it can be sold for to them, immaterial on how much it cost to manufacture a product. This is called price to value. The value a customer receives is how it is priced. This is especially advantageous to a business when they have a unique product or a monopoly on a sector of business.

This is what to look for when examining a project management books for use by yourself or your project managers to learn from.


Project Management Books
Examples of project management books available for lowest cost.

10 Tips for Project Success

Want to improve your project success? In this post we'll tell you how, by listing our Top 10 tips. So here they are...

10 Tips for Project Success

Starting out: Make sure that when you start out your customer defines their requirements in depth. You need to know exactly what it is that must be delivered, to who and when. Make it specific, write it up formally and get them to sign it off. This document will become the basis upon which to measure your success.
Customers: Involve your customers throughout the entire project life cycle. Get them involved in the analysis and planning, as well as execution. You don't have to seek their approval, just keep them informed. The more you involve them, the greater their level of buy-in and the easier it is to manage their expectations.
Timeframes: Keep your delivery timeframes short and realistic. Never agree to lengthy timeframes. Split the project into “mini-projects” if you need to. Keep each mini-project to less than 6 months. This keeps everyone motivated and focused.
Milestones: Break your project timeframe into "Milestones" which are manageable pieces of work. Add delivery deadlines to your milestones and try to deliver on every deadline, no matter what. If you're late, tell your customer about it as early as possible.
Communications: Make sure you keep everyone informed by providing the right information at the right time. Produce Weekly Status Reports and run regular team meetings. Use these Project Management Templates to save you time.
Scope: Only authorize changes to your project scope if there is no impact on the timeline. Get your customers approval to important scope changes first and then get their buy-in to extend the delivery dates if you need to.
Quality: Keep the quality of your deliverables as high as possible. Constantly review quality and never let it slip. Implement “peer reviews” so that team members can review each others deliverables. Then put in place external reviews to ensure that the quality of the solution meets your customer's needs.
Issues: Jump on risks and issues as soon as they are identified. Prioritize and resolve them before they impact on your project. Take pride in keeping risks and issues to a minimum.
Deliverables: As each deliverable is complete, hand it formally over to your customer. Get them to sign an Acceptance Form to say that it meets their expectations. Only then can you mark each deliverable off as 100% complete.
Your team: Great projects are run by great teams. Hire the best people you can afford. Spend the time to find the right people. It will save you time down the track. Remember, good people are easy to motivate. Show them the vision and how they can make it happen. Trust and believe in them. Make them feel valued. They will work wonders.

And that's it. With these 10 tips you can boost your project success. And here's one last tip that will save you time and effort - use Project Management Templates to produce deliverables faster and easier than before. Download the Project Management Kit of templates today.



10 Tips for Boosting Team Performance
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you… 

The Project Management Template – Guiding the Way to a Successful Project

Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

A good template includes the following:

• Defining Project Responsibilities
• Stakeholder Analysis
• Milestone Chart
• Milestone Report
• Variation Form
• Risk Log
• Business Case Form
• Project Definition Form or PID
• Project Reporting Form
• Highlight Report
• Change Control Form
• Change Control Log
• Actual Vs Planned
• Project management check sheet

Defining project responsibilities identifies two aspects of project management: tasks and team members.
A Business Case is a documented, structured proposal for business improvement.  It is prepared to facilitate a selection decision for a proposed project.  The Business Case:

• Illustrates reasons and justification in terms of business process performance, needs and-or problems, and expected benefits.
• Identifies the high-level requirements that are to be satisfied
• Provides analysis of proposed alternative solutions (with reasons for rejecting or carrying forward each option)
• Includes assumptions and constraints
• Details risk-adjusted cost-benefit analysis
• And has a preliminary acquisition plan.

It may seem like a daunting task to create a business case, but it doesn’t have to be an issue when using business case templates.  One of the best ways to evaluate the viability of a business model or to demonstrate the potential of your proposed business solution is to write a business case.


Business case templates take the stress out of developing a business case and are available pre-formatted for many industries and for grant proposals/applications.  Whether using a paid template or a free one, they help a project manager produce a well-organized and compelling business case.


Just as projects vary, templates are not “one size fits all.”  It is up to the project manager to identify the right business case template for the individual project.  There are internal and external, corporate and not-for-profit business cases.


If providing business cases is a common occurrence it makes sense to develop a customized template.  A standard format for business case templates:

• Title
• Table of Contents
• Executive or Project Summary
• Mission Statement
• Objectives
• Needs Assessment
• Technical Analysis
• Project Work Plan
• Financial Plan
• Appendix

Typically, the Title, Table of Contents, Mission Statement, and Summary are added to the business case after the other sections are completed.  The information from the Objectives, Needs Assessment, Technical Analysis, Project Work Plan, and Financial Plan will help determine what goes into the other sections.
By developing a business case template, a project manager has full control over the layout and information, as well as the presentation of the case.


The Title, Table of Contents, and Mission Statement are one page each.  The Summary should not be longer than two pages; ideally, one page.


The other sections require detail and documentation, and so will generally be at least two pages each.
Using one or more business case templates can be of good use to the project manager, providing examples and guidance to ensure the manager’s final template is both easily to use and professional looking.


Developing business case templates means absolute control over the case document, with no need to modify or remove information that is not applicable to the project.


A customized business case template eliminates unneeded sections or text, making it easy for a project manager to utilize over and over again.

Other articles on Project Management Templates:

Project Management Templates and Their Benefits 
Project Management templates are an excellent tool for any project, large or small.  They reduce the time necessary for documentation, and can ensure no steps of the project are neglected.

10 Tips for Boosting Team Performance
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…

Managing Project Management Template Risks
If all of our projects just smoothly followed our project schedule we’d have it made.  No issues, no budget overruns, no cranky customers, no scope changes.  But that’s not the case. 

Why Project Management Templates are an Essential Tool for Project Managers
The reason why project management templates are an essential tool for project managers is simple. 

Why Project Management Templates Are Useful
Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project.

How to Create Your Project Dashboard

As a Project Manager, you have to know whether you're ahead or behind target, every day. To do this, learn...

How to Create Your Project Dashboard

A "Project Dashboard" is a tool that provides you with a graphical view of the progress of your project, so that you can see at a glance whether you're on track. It's basically a set of Charts that gives you the current status of the project at any time. You can create the Charts manually in Excel, or use smart software that does it for you.

To create your own Project Dashboard in Excel, take these steps:

Step 1: Get a Pen and Paper
Sit down with a pen and paper and list the things that determine whether your project will be a success. It might be that your project is delivered on time and under budget. Or that tasks are completed when expected and that your resources are perfectly allocated. It's these types of things that your project dashboard needs to track, every day.

Step 2: Gather your Data
Then collate all of the data that is needed to measure the success criteria you've defined above. The data may exist in Project Plans, Excel spreadsheets or Word documents. It might exist also in Timesheets, Expense Forms and risk / issue / change logs. Remember, the quality of your project dashboard depends on the quality of the data that goes into it.

Step 3: Sift, Sort and File
You then need to sift through your data, sort it into groups and file it all in one place, so that you have the right information needed, to populate your dashboard.

Step 4: Create your Dashboard
You're now ready to build your project dashboard. Enter all of your data into a single spreadsheet and create the following charts to create your Project Dashboard:

• Time Chart: This chart tells you whether you're on schedule. You need to list your tasks and identify the planned versus actual percent complete for each task. Summarize this data and you'll find out whether you're ahead or behind schedule.
• Cost Chart: To find out if you're under or over budget, you need to add up all of your project costs and compare them to your budget. To do this, calculate the cost of your resources, as well as equipment, materials and any expense forms completed by staff.
• Tasks: You need to know the percentage of tasks that have been completed to date, so that you can get a feel for how much of the project has been done. List all of your tasks and identify whether they have been "Not Started", are "In Progress" or "Complete".
• Resource: It's important to know whether your resources are over-worked. To calculate this, list all of your resources and work out how many calendar days they have scheduled for the project. Then identify from your task list, how many days they have been assigned to tasks. If they have been assigned to tasks for more days than they have available in their calendar, then they are "over-resourced" and you need to reduce their workload.
• Risks: Every project involves risks, issues and changes. Make sure these are documented and identify whether each is low, medium or high impact. Then sum them up to find out how "at risk" your project is.

Step 5: Review it Daily
A fully populated project dashboard will tell you at a moments glance, whether you're on track. You need to populate your dashboard each and every day, to have the best chance of success.

Key Project Manager Practices

Managing a project can be daunting, but using the right techniques and tools will help the project manager achieve a project no matter how complex or large it might be.  There are seven practices that any project manager can put to good use to ensure the success of the project.

Define the objectives, scope and stakeholders
Firstly, understand the project objectives. Deciding the real objectives will help plan the project.  The client may have many ideas, but often it turns out that most of those ideas are not applicable to the current project.
Scope is the boundaries of the project.  Deciding what’s in or out of scope will determine the amount of work which needs performing.

Determine the stakeholders, what they expect to be delivered and enlist their support.  The stakeholders will review the objectives and scope, and either agree with them, or indicate what needs to be changed before they can give their approval.

Define the deliverables
Define what will be delivered by the project.  Decide what things, whether product or service, will be delivered.  Document them in enough detail to enable someone else to produce them correctly and effectively.
Key stakeholders must review the definition of deliverables and must agree they accurately reflect what must be delivered.

Project planning
Define what activities are required to produce the deliverables using techniques such as Work Breakdown Structures. Estimate the time and effort required for each activity, dependencies between activities and decide a realistic schedule to complete them. Involve the project team in estimating how long activities will take. Set milestones which indicate critical dates during the project. Write this into the project plan. Get the key stakeholders to review and agree to the plan.

Communication
Project plans are useless unless they’ve been communicated effectively to the project team. Every team member needs to know their responsibilities. I once worked on a project where the project manager sat in his office surrounded by huge paper schedules. The problem was, nobody on his team knew what the tasks and milestones were because he hadn’t shared the plan with them. The project hit all kinds of problems with people doing activities which they deemed important rather than doing the activities assigned by the project manager.

Tracking and reporting project progress
Once your project is underway you must monitor and compare the actual progress with the planned progress. You will need progress reports from project team members. You should record variations between the actual and planned cost, schedule and scope. You should report variations to your manager and key stakeholders and take corrective actions if variations get too large.

Change management
By managing changes, the project manager can make decisions about whether or not to incorporate the changes immediately or in the future, or to reject them. This increases the chances of project success because the project manager controls how the changes are incorporated, can allocate resources accordingly and can plan when and how the changes are made. Not managing changes effectively is often a reason why projects fail.

Risk management
Risks are events which can adversely affect the successful outcome of the project.  Risks will vary for each project but the main risks to a project must be identified as soon as possible. Plans must be made to avoid the risk, or, if the risk cannot be avoided, to mitigate the risk to lessen its impact if it occurs. This is known as risk management. Not managing risks effectively is a common reason why projects fail. Download these  Project Risk Management Templates to reduce risk on projects. View the sample risk management templates in PDF - Project Risk Management templates

The Risk Management Templates – Find and Control Risk

Define the risk management methodology to be used, the risk assumptions, the roles and responsibilities, the time frames, risk rating/scoring techniques, establish risk thresholds, define risk communications, and develop a risk tracking process.

1.Define the risk management methodology to be used:

The risk management process is scalable to ensure that the level, type, and visibility of risk management are commensurate with both the risk and the importance of the project.

a. Risk Identification: Risks will be identified by using the Risk Assessment Questionnaire Template, augmented to include other project specific risks, as appropriate.

b. Categorize Risks – The Risk Assessment Questionnaire Template groups the risks into categories.  The project will create additional categories, as required.

c. Risk Impact Assessment – For each risk identified, assess the risk event in terms of likelihood of occurrence and its effect on project objectives if the risk event occurs.  This information will be used to prioritize the risk using established threshold criteria.

d. Prioritize Risks – Risks that meet the threshold criteria will be recorded in the Risk Response Plan.

e. Risk Response Planning:

• For each risk in the Risk Response Plan, determine the options and actions to reduce the likelihood or consequences of impact to the project’s objectives.
• Determine the response based on a cost/benefit analysis (cost vs. expected effectiveness).
• Describe the actions to be taken to mitigate the risk
• Describe the actions to be taken when the risk event occurs (contingency plan)
• Assign responsibilities for each agreed upon response
• Assign a “due date” where risk responses are time sensitive
• Incorporate this information into the Risk Response Plan

f. Risk Response Tracking:

• Document the dates and the actions taken to mitigate the risk
• Document the actions taken when the risk event occurred (contingency plan)
• Document any subsequent actions taken
• Incorporate this information into the Risk Response Plan

g. Monitor Risk:

• Establish systematic reviews and schedule them in the project schedule.  These reviews are to ensure:
• All of the requirements of the Risk Management Plan are being implemented
• Assess currently defined risks
• Evaluate effectiveness of actions taken
• Status of actions to be taken
• Validate previous risk assessment (likelihood and impact)
• Validate previous assumptions
• State new assumptions
• Identify new risks
• Risk Response Tracking
• Communications

h. Control Risk:

• Validate mitigation strategies and alternatives
• Take corrective action when actual events occur
• Assess impact on the project of actions taken (money, time, resources)
• Identify new risks resulting from risk mitigation actions
• Ensure the Project Plan (including the Risk Management Plan) is maintained
• Ensure change control addresses risks associated with the proposed change
• Revise the Risk Assessment Questionnaire and other risk management documents to capture results of mitigation actions
• Revise Risk Response Plan
• Communications

2. Define assumptions that have a significant impact on project risk


3. Define the roles and responsibilities unique to the Risk Management function

• Risk Management Team-
• Risk Response Tracking Coordinator-

4. Define Risk Management Milestones

5. Define risk rating/scoring techniques: The project will rate each identified risk (High, Medium, Low) based on the likelihood that the risk event will occur and the effect on the project’s objectives if the risk event occurs.  This will be a subjective evaluation based on the experience of those assigned to the project’s risk management team.


6. Establish risk thresholds: The project will establish risk responses for risk events that have been determined to have a rating of “High”.

7. Define risk communications

8. Define risk tracking process


If you are interested in viewing Risk Management Templates, then check these out now...More 

Project Management Templates and Their Benefits

Project Management templates are an excellent tool for any project, large or small. They reduce the time necessary for documentation, and can ensure no steps of the project are neglected.

Project Initiating Process Group Templates

Project Charter Template: The Project Charter is developed during the initiation phase to formally authorize a project. The Project Charter is required before any work on the project can begin.

• Paragraph 1: Formally authorizes the project.
• Paragraph 2: Project Scope – Its deliverable, and what business needs, problems or opportunities the project addresses.
• Paragraph 3: Identify the Project Manager and give him authority to apply organization resources to the project
• Paragraph 4: Provide the summary milestone schedule
• Paragraph 5: Project Budget – state the budget for the project and identify funding sources

Preliminary Project Scope Statement: The Preliminary Project Scope Statement is created after the Project Charter has been signed. This Statement is completed during the Initiation Phase to ensure the successful planning of the project.


Project Planning Process Group Templates

Communications Management Plan Template: defines the communication requirements for the project and how the information is to be distributed.

Cost Management Plan Template: details how the project costs will be measured and reported upon. It indicates the control thresholds and the corrective actions to be taken if the thresholds are exceeded.

Procurement Management Plan Template: identifies the processes for evaluation, selection and management of procurements required for a project.

Scope Management Plan Template: ensures that the project includes the work and only the work necessary to successfully complete the project.

Project Management Plan Template: states how the project is executed, monitored and controlled and closed. These documents feed into the development of the project management plan.

Risk Register Template: a list of all project risks including their risk rankings, responses and risk owners.



Project Executing Process Group Templates


Expense Report Template: is designed for both domestic travel and International travel (a tab for each at the bottom of the spreadsheet).

Employee Annual Review Template: for conducting performance reviews. Useful as an annual review or as a tool for the Project Manager to perform an employee review.


Project Monitoring and Controlling Process Group Templates

Project Status Report

Project Change Request

Project Performance Report


Project Closing Process Group Templates

This document establishes formal acceptance of all the deliverables for the project.



Project Document Templates

Project Meeting Agenda Template: key to presenting a well planned and well executed meeting.

Project Meeting Minutes Template: clearly documents the discussion topics of the meeting, any decisions which were made and assigns new action items to individuals. Promptly distributing clearly written project meeting minutes is important to success in project management.


With so many project management templates available, it is easy for the project manager to find those that are the most applicable and useful for the project. The initial time investment that a project manager makes in finding the right templates will save time during the project itself.


Other articles on Project Management Templates:

The Project Management Template – Guiding the Way to a Successful Project
Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

10 Tips for Boosting Team Performance
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…

Managing Project Management Template Risks
If all of our projects just smoothly followed our project schedule we’d have it made.  No issues, no budget overruns, no cranky customers, no scope changes.  But that’s not the case. 

Why Project Management Templates are an Essential Tool for Project Managers
The reason why project management templates are an essential tool for project managers is simple.

Why Project Management Templates Are Useful
Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project.

How to Initiate Projects Successfully

How to Initiate Projects Successfully

Did you know that a large percentage of projects are cancelled before they even reach the detailed planning phase? The most common reason is that they have not been properly defined and scoped, and as a result, they lack the sponsorship needed to ensure their success.

Therefore, it's critical that you initiate your projects as quickly and efficiently as possible, by taking these 6 steps:

Step 1: Develop a Business Case

The first step taken when initiating a new project, is the creation of a comprehensive Business Case. A Business Case describes the business problem / opportunity to be addressed by the project and the alternative solutions available. The potential costs and benefits associated with each alternative solution are also defined.

The Business Case becomes the foundation for the project as it fully documents the reasons for creating the project and the key benefits to be delivered. Once produced, the Business Case should be formally endorsed by the Project Sponsor, before funding is allocated to the project.

Step 2: Undertake a Feasibility Study

A Feasibility Study is completed to identify the likelihood of the alternative solutions actually delivering the benefits stated in the Business Case. Based on the results of the Feasibility Study and the Benefits and Costs portrayed in the Business Case, a preferred solution is identified and once again, is approved by the Project Sponsor.

If you can complete a comprehensive Feasibility Study, then you will greatly improve your chances of delivering your project successfully. 

Step 3: Establish the Project Charter

Once the problem and solution have been identified, a new project is then defined to deliver the solution. The "Project Charter" is documented, which essentially describes what the project sets out to achieve and the boundaries within which it must achieve it.

The project vision, objectives, scope, deliverables, project organization and an implementation plan are all clearly stated in the Project Charter document. 

Step 4: Appoint the Project Team

Now that the project is defined, it is time to appoint the team. The Project Board is established and the Project Manager is recruited to take on responsibility for the project. The Project Manager recruits the Team Leaders and they in turn help recruit project staff. Every team member is assigned a detailed Job Description, defining their role and responsibilities within the project. 

Step 5: Set up a Project Office

The Project Office environment is then established, as the physical place of residence for the team for the duration of the project. This environment will provide the premises, equipment, materials, tools and processes required to enable the members of the project team to perform their roles successfully. A checklist is used to ensure that the Project Office has been set up correctly and will continue to support the Project as needed. 

 Step 6: Perform Review

Once the project has been defined and the team have been appointed, you're ready to perform a project phase review. A Phase Review is completed to ensure that all of the required Initiation activities have been undertaken and to provide formal approval to proceed to the next phase: Project Planning.

And there you have it - 6 steps to initiating projects successfully. 

Developing a Project Plan

Developing a Project Plan

Template Tips: Developing a Project Plan
The first activity within the Planning phase is the creation of a Project Plan.  To create a Project Plan, you should first identify the ‘Work Breakdown Structure’ (WBS) which is a hierarchical set of phases, activities and tasks to be undertaken on the project. After the WBS has been agreed, an assessment of the effort required to undertake the activities and tasks is made.

The activities and tasks are sequenced, resources are allocated and a detailed project schedule is formed. This project schedule will become the primary tool for the Project Manager to assess the progress of the project. The Project Plan should include:

• A detailed description of the project scope
• A list of the project milestones (descriptions and dates)
• A list of the project phases, activities and tasks
• Resources/effort allocation against phases, activities and tasks
• A project schedule depicting when the tasks will be undertaken
• A list of planning dependencies, assumptions and constraints

Project Tips: How to properly Execute a Project

The Project Execution phase is the phase within which the deliverables are physically constructed and presented to the customer for acceptance. While the project team are producing the deliverables, the Project Manager should implement the following management processes to monitor and control the activities being undertaken:

• Time Management (recording time spent against the project)
• Cost Management  (keeping track of project expenditure)
• Quality Management  (assuring and controlling the quality of deliverables)
• Change Management (managing changes to scope, deliverables and timescales)
• Risk Management (identifying, quantifying and mitigating potential project risks)
• Issue Management (documenting and resolving project issues)
• Procurement Management (sourcing of products and services from external suppliers)
• Acceptance Management (gaining customer acceptance of project deliverables)
• Communications Management (distributing communications within the project).

10 Tips for Boosting Team Performance

As a Project Manager, your success depends on how well your team performs. So if you want to improve your team performance, then read these:

10 Tips for Boosting Team Performance
There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…

Tip 1: Show them the vision
People only perform well in a role if they understand what it is that they need to deliver and why. For this reason, we suggest you get your team together to reinforce the project vision, objectives, timeframes and deadlines. Make your team feel wanted and needed by showing them that the project is critical to the success of the business. You will gain their buy-in and their commitment going forward.
Also, use these Project Management Templates

Tip 2: Meet them individually
After your meeting, take each team member aside and tell them what it is that you need from them to help you deliver the project. Make sure they have a clear Job Description and they know how you are going to measure their performance. Ask them how they like to be managed, what motivates them and how you can support them in their role.

Tip 3: Give them room
At this point, you need to back off a little and give them room to perform. And if the pressure increases in your project, you need to give them more room than less. It’s hard to do this, but you mustn’t over-pressurize them or their performance will reduce, rather than improve.

Tip 4: Count the goals
As you back off, you need to put in place checks to measure their performance regularly. Meet with them individually every month to discuss their achievements, what’s outstanding and how they can improve. Make sure you don’t “bottle up” your concerns. Instead speak to them openly, keeping constructive at all times.

Tip 5: Be positive
If you’re stressed and weary, ease off on your staff. Shouting or being negative will only rub off on them. It’s incredibly difficult but you need to be positive, reassuring and supporting them at all times, even if the project is delayed.

Tip 6: Shake hands and pat backs
It’s easy to forget to praise your team’s successes. So every time you deliver a great quality product, finish a difficult task on time or get great feedback from a customer—congratulate those responsible in your team.
Also, use Project Scheduling Software

Tip 7: Meet at half time
Get your team together regularly to build a strong team spirit. Get them socializing together, so that new friendships are formed. The stronger the bond your team have with each other, the more likely they will work together as a single cohesive unit and achieve the objectives you have set.

Tips 8: Take time out
Don’t be afraid to give team members time off for working hard. By taking time out, it will reduce sick leave, improve motivation and increase efficiency.

Tips 9: Give them what they need
Everyone is motivated by different things. You need to know what motivates every different member of your team. Get to know them well. If you can reward each person differently based on their motivations, then you’ll improve their performance every time. This is the hardest trick in the book, but the one that pays the biggest dividends.

Tip 10: Celebrate your wins!
Staff all too often finish a project and move straight onto the next one without celebrating its success. When they do this, they carry their stress and pressure into the next project they work on. So help your team to “start afresh” by celebrating your success at the end of the project.
By taking these 10 tips seriously, you will improve the performance of your team and boost your chances of success.


Other articles on Project Management Templates:

Project Management Templates and Their Benefits 
Project Management templates are an excellent tool for any project, large or small.  They reduce the time necessary for documentation, and can ensure no steps of the project are neglected.

The Project Management Template – Guiding the Way to a Successful Project
Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

Managing Project Management Template Risks
If all of our projects just smoothly followed our project schedule we’d have it made.  No issues, no budget overruns, no cranky customers, no scope changes.  But that’s not the case. 

Why Project Management Templates are an Essential Tool for Project Managers
The reason why project management templates are an essential tool for project managers is simple. 

Why Project Management Templates Are Useful
Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project.

Managing Project Management Template Risks

If all of our projects just smoothly followed our project schedule we’d have it made.

No issues, 

No budget overruns, 

No cranky customers, 

No scope changes.  

But that’s not the case... 

There are always going be some issues, the budget never manages itself, the customer always has a few demands, and scope is usually a challenge to manage and keep in check.

What I haven’t touched on yet is project risk.  What is risk in terms of project management templates?  One definition goes like this…

“A possible event that could endanger the planned course or goals of the project.”

Do we need to manage for these risks, these ‘possible’ events that may or may not happen?  Or can we just leave things to chance and worry about them if and when they happen?  You can, but the impact may be so great and blindside you so badly that the project can get knocked way off course or could come to a complete halt.

As part of a sound and solid project management process, it is far better to plan for risk and look for ways to avoid a specific risk even happening or ways to work through an risk event should it actually happen.  Basically, every company with a formalized project management methodology should have a risk management component.

Risk items are likely to come up on nearly every project you manage.  Training yourself to recognize potential risks as they arise is a critical piece of your overall project management process and something you and your project team need to work very hard with the customer to do well.

Sometimes you have to think out-of-the box – think in terms of what-if scenarios.  And as you identify potential risks associated with tasks and milestones in your project plan, document them and revisit them every week with your team and your customer.  Above all, be proactive.  Approaching risks in this manner will help you to better recognize the event should it occur and be much better prepared to deal with it.  And in the long run that means your project has a far greater chance for success.


Other articles on Project Management Templates:

Project Management Templates and Their Benefits 
Project Management templates are an excellent tool for any project, large or small.  They reduce the time necessary for documentation, and can ensure no steps of the project are neglected.

The Project Management Template – Guiding the Way to a Successful Project
Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

10 Tips for Boosting Team Performance
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…  

Why Project Management Templates are an Essential Tool for Project Managers
The reason why project management templates are an essential tool for project managers is simple. 

Why Project Management Templates Are Useful
Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project. 

Why Project Management Templates are an Essential Tool for Project Managers

The reason why project management templates are an essential tool for project managers is simple.  Using a template saves time and ensures uniformity of documentation.  Of all the tools available to project manager, templates are likely the most important and essential tool for project managers.

Tools are the means that help managers and the team members successfully plan, manage and execute the different tasks involved in each project.  The best project management tools are not very sophisticated. They include primarily templates, check-lists (milestone reviews) and planning software.

Given the wide range of project management tools available, the keys to selecting the right ones are understanding that different tools are needed along the different stages of a project life cycle, and knowing why project management templates are an essential tool for project managers.

During all phases of the project, Milestones Reviews and Business Plans take a leading role.  In the Initiation phase, the Project Charter, Business Plan, Project Framework (or Overview), and Business Case Justification are essential.  In the Execution and Control phases, an update of Risk Analysis and Score Cards prevail. During Closure, no special tool is needed.

Project Templates are available for:

• Business Plan
• Milestones Check-list Scheduling Tools and Methodologies:
• Gantt
• Pert
• MS Project
• Business Case Justification
• Project Charter
• Project Framework or Overview
• Risk Analysis
• Score Cards
• Team Building
• Project Communication Plan
• Project Management Templates
• Project Management Software Packages

The above list is only a small sample of the tools and templates a good project leader uses.
Templates can be used in almost every phase of a project.  From the initial brainstorming stage to the successful closure of the project, templates simplify the management of the process.
Using templates can help the project manager with:

• Communicating the requirements of the customers to the project team without any ambiguity.
• Discussion on the requirements gathered and acceptance of the goals that must be achieved to satisfy the customer.
• Documenting the scope and feasibility of the job.
• If the plan is a worthwhile venture, it is documented. A part of the document goes to all the stakeholders to understand the scope of the project.
• Defining the project scope and goals
• Division of the plan into tasks and sub tasks
• Drawing up a project schedule to allocate work for each person and the deadlines for each of the tasks
• Determining if the cost predictions are comparable with the actual cost incurred
• Determining the effectiveness of the job, which can be measured by earned value or activity float statistics
• Identifying areas of potential concern to the plan; the findings along with the solutions are added to the reports
• Adjusting and modifying the plans and schedules to overcome the problems that exist and those that are forecasted
• Completing the documentations that were maintained throughout the assignment

Successful project managers know that templates are not just time-saving.  Templates provide a uniformity to the project’s documentation.

Understanding why project management templates are an essential tool for project managers is a first step toward a successfully completed project.


Other articles on Project Management Templates:

Project Management Templates and Their Benefits 
Project Management templates are an excellent tool for any project, large or small.  They reduce the time necessary for documentation, and can ensure no steps of the project are neglected.

The Project Management Template – Guiding the Way to a Successful Project
Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

10 Tips for Project Management Templates
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…  

Managing Project Management Template Risks
If all of our projects just smoothly followed our project schedule we’d have it made.  No issues, no budget overruns, no cranky customers, no scope changes.  But that’s not the case. 
 
Why Project Management Templates Are Useful
Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project.  

Why Project Management Templates Are Useful

Knowing why project management templates are useful when carrying out large projects is the first step to a smoothly-running project.  There are numerous templates available for different project management tools, like Gantt Charts or Risk Analysis, and a manager should take advantage of any template solution found to be applicable to the project.  Templates can save time and money and help the manager avoid mistakes.  A good template is adaptable to a specific project and future ones as well.

Save Time
Why project management templates are useful when carrying out large projects is because of the time saved in developing a project plan from scratch.  There is no reason for a project manager to redo work that is already done, and simply needs to be filled in on a template.
Although it might take some time to find the right template or templates, once they are found the investment of time is a once and only investment.  A project manager will see the value added to the management process.  Instead of being caught up in the paperwork and planning, a manager can simply fill in forms as needed and focus on getting the project delivered

Save Money
By saving time, the project manager learns why project management templates are useful when carrying out large projects: they also save money.  Many templates can be found for free or no cost online.  By reviewing a few of them side-by-side, the project manager can select the best template for the current project.  This method avoids the high prices associated with outside consultants developing the documentation a project needs to run smoothly.
Developing a large project of course does not mean unlimited funding.  So by using free project management templates little or no money is needed to begin the documentation process for the project.

Avoid Mistakes
When using a project template, most of the hard work of trial and error has already been done: done by the template creator and also other project managers that used it.  A template typically follows a point-by-point method, allowing the manager an overview of the entire project process.
Following a template when planning a large project eliminates much of the guess-work and forgotten steps or tools.  A project manager working on a large project can see where mistakes or skipped steps or tools might occur.  This allows adjusting the plan accordingly before the active phase of the project begins.

Adaptability
A good template that can easily be altered for the type or size of the project is another reason why project management templates are useful when carrying out large projects.  There is not one-size-fits-all template, but a project manager can customize the template or templates to suit the project and ensure they have all the steps and tools needed to complete the project on time and under budget.

Conclusion
Understanding why project management templates are useful when carrying out large projects helps the project manager maintain the scope and complexities demanded by large projects.


Other articles on Project Management Templates:

The Project Management Template – Guiding the Way to a Successful Project
Using a project management template not only saves time, money, and effort; it also ensures that all aspects and phases of a project are included in the project plan.

10 Tips for Project Management Templates
10 Tips for Boosting Team Performance.There are lots of different ways that you can boost your team performance. We’ve listed here our Top 10 Tips. We hope they help you…

Managing Project Management Template Risks
If all of our projects just smoothly followed our project schedule we’d have it made.  No issues, no budget overruns, no cranky customers, no scope changes.  But that’s not the case. 

Why Project Management Templates are an Essential Tool for Project Managers
The reason why project management templates are an essential tool for project managers is simple.

Project Management Templates and Their Benefits 
Project Management templates are an excellent tool for any project, large or small.  They reduce the time necessary for documentation, and can ensure no steps of the project are neglected. 

Essential Project Management Tools

4 Essential Project Management Tools

Project Managers have four essential tools to help them bring a project from start to finish, on time and within budget.  Without these tools in place and effective use, a project will most likely fail in delivery and client satisfaction.
Specifically, the tools addressed in this article are:

• The budget;
• Work breakdown structure;
• Network diagram;
• Risk management plan.

Effective use of these project management tools is the core of a successful project.  When put into use, they can help the Project Manager and support team stay on track and deliver the objective as required.

1. The Budget.
The budget is the project management tool that will be used the most throughout the life cycle of the project.  The Project Manager begins by allocating resources and assigns tasks within the budget allowance.  During the execution of the project plan, it is not unusual for the Project Manager to make adjustments to keep the project within the budget parameters.
For small or simple projects, spreadsheet software is enough to create budgets and reports.  There are templates available to save time and effort.  However, for larger or more complicated projects, a better software solution is needed.  There are online programs to fit any size project and any number of shareholders.

2. The Work Breakdown Structure (WBS).
A hierarchical structure, the WBS breaks down the project into tasks and sets the duration of those tasks.  This project management tool enables the Project Manager to identify independent tasks, allocate the needed resources for each task, and assign them to the appropriate stakeholder.
The WBS is often represented in such forms as diagrams, tables, or outlines.  These can, like the budget, be created using spreadsheet software or the programs dedicated to project management.

3. The Network Diagram.
The network diagram is the project management tool that picks up where the WBS leaves off.  This diagram provides a graphical view of task dependencies and sequence; this tool can identify those tasks that can be done at the same time by different support personnel.
There are both desktop and online software solutions that can render the Network Diagram into a flow chart that shows in greater detail the information provided by the WBS.

4. The Risk Management Plan.
This project management tool is a system used by Project Managers to identify, assess, and respond to project risks: project management risks, resource risks, client risks, technical risks, and other risks appropriate to the specific project.

Like the other tools, basic office productivity software (spreadsheet, word processor, etc.) can be utilized for the  Risk Management Plan, especially if the project is of small scale or simple scope.  Online software solutions can help with projects that are too complicated for a productivity suite.
In conclusion, these Project Management tools help to ensure the Project Manager can deliver a successful project objective.  Whether manual methods or sophisticated software are used, utilizing the four essential tools will help keep the project on track.

Project Management Life Cycle

Any project you are preparing will proceed more smoothly and with greater effect by understanding and utilizing the Project Management Life Cycle.  It will assist you in narrowing the focus, keeping objectives in order, and of course bring the project to completion on time and under budget.

The life cycle of a project progresses though five steps, which are Initiation, Planning, Execution, Monitoring/Control and Closure. There isn’t a single step that is more important that any other, and each step is critical to the successful completion of the project.

The first step is Initiation. It provides the over-view of the project and how it will be successfully achieved.  The most common tools or methodologies used are Project Review, Plan, Overview and Schedule Reviews.  The new project starts by defining its objectives, scope, purpose and list of deliverables to be produced.  During this initial phase the project manager will be appointed, and he will select his team members according to their experience and skills.

Planning is the second step in the project management life cycle.  The plan must include certain elements, such as a breakdown that is detailed into tasks and the assignment of each task to members of the project team, from start to finish.  There must also be set criteria for defining successful completion of each task.  Typically a risk assessment is included in the Planning step as well.
This phase involves creating of a set of plans to help guide your team through the execution and closure of the project.  The plans created will help manage time, cost, quality, change orders or variation, risk factors and other issues. They will also help you to manage key personnel and external vendors/suppliers, to ensure that you deliver the project on time and within budget.

Execution and Control are the third and fourth steps in the project management life cycle.  These phases tend to be grouped together because each step of execution is measured against the control standard of the project.  The solution for the project’s purpose (usually solving an existing problem) is implemented.  As these steps progress, stakeholders become more involved in the planning for the final step.

The Project Execution is usually the longest phase in the project life cycle and it typically consumes the most energy and the most resources.  The most important issue in this part is to ensure activities are properly executed and controlled. You will need to implement a range of management processes during this phase. These processes help you to manage procurement, client approvals and communications.
The most common tools or methodologies used in the execution phase are an update of Risk Analysis Review, in addition to Project/Business Plan. The planned solution is implemented/incorporated to solve the problem specified in the business requirements.

Closure is the natural end to any cycle, and the project management cycle is no different.  A formal written project review report is developed, containing these elements: the formal acceptance by the client of the result of the project; a comparison of the initial requirements against the delivered product; lessons learned; project resources; and the formal project closure notification to higher management.

Create your own Project Life cycle...

What you need to know to start an Online Project Management

What is online project management?

It is web based software that lets you manage your projects efficiently online or on the Internet. Gone are the days where you need to install software to each and every computer in your office for your team to have access and work on a project simultaneously with others. The modern technology of the Internet makes it possible for every computer to access the project database remotely without installing individual software.
How did online project management started?

Project management has been around since the 1900s when early architects planned on building infrastructures such as roads, bridges, railways and highways. It is a discipline wherein a process takes place that leads to a creation of an end product called a project, something that has never been created before or is revision of what has been created previously.

How did online project management evolved?

With the advancement in technology nowadays we are equipped with more ways to become efficient. Technology has paved way for better communication which is vital to every project management. Teams can now collaborate with each other without having to be present in one room. Through communication technology, we can conduct meetings remotely, send emails across the globe, do video and chat conferencing and many more which results to a more efficient way to manage people, time and resources. Businesses can cut costs for travel if meetings can be done remotely through video conferencing connecting project holders, clients and suppliers from different parts of the world in one virtual conference room where the project manager can present and discuss the project’s progress.

How to start online project management?

Online project management is available if different types. Some are designed with unique capabilities that are accustomed to the type of your project. The project manager can best choose what will fit and work for his project. You need to be able to have a reliable server since your work will mainly be connected to the Internet. A good and reliable server system is needed to ensure you don’t lose data and a back up system will be in place in case of a system crash or Internet connection loss.

After choosing the project software management that suits your needs you are set to go to a high tech way of managing and overseeing your project remotely. The common misconception of a lot of people is that project management software is too complicated to use so they just revert back to the traditional way of project management. What they don’t realize is that this project management software is actually user friendly. Its interface is created to adapt to those individuals who are not internet or computer savvy. Since the users will not always be computer technicians but other professionals in line with the project, complex software will need to be the least of their worries.

Effective project management can be achieved remotely using online project management software.  The benefits of remotely managing, tracking and planning for your project will surely help your project become a success.

Using software to help you manage projects

To deliver projects successfully, it is fair to say that most Project Managers use software tools to help them out. But which tools do you need, when should you use them and what do you use them for? In this post, you will find out all about...

Using software to help you manage projects

Search Amazon.com for Project Management software

If you Google the term "project management software" then you will find something like 196 million search results! So which tools do you need and how should you use them to boost your chances of success? To help you out, we have described here the 5 typical groups of project software used, why they are used and how:

Type 1: Planning Software
The most common type of software tool used by project teams, is project planning software. Managers and teams typically use it to create a Gantt chart of their "Work Breakdown Structure" (WBS).

But it should also be used to schedule resources and financial expenditure, as well as equipment used and materials consumed. Dependencies within and between projects should also be listed.

Sample Providers: MS Project, Primavera

Type 2: Methodology Software
After planning a project, you need to implement a suite of processes to ensure its success. These processes together form part of a "methodology" for the project's execution. Such methodologies exist and are easily downloadable. They help you to implement processes to manage the project's; risk, changes, issues, time, cost, quality, staff, customers and suppliers.

By implementing such a methodology, you can improve your project efficiency and improve your chances of success.

Sample Providers: MPMM

Type 3: Tracking Software
Ok, so you have created a plan and implemented a suite of project processes. You are now ready for the execution phase of the project.

To help you monitor and control the project's execution, most managers implement some form of tracking software. This software helps you to:

	Monitor and record changes, risks and issues
	Keep track of time and money spent
	Control the quality of deliverables
	Report and communicate project status
	Keep the project "on track" at all times

As with the other types of software specified here, using this type of software to monitor and control the project's progress is critical to success.

Sample Providers: Mercury, Tenrox

Type 4: Collaboration Software
On all projects, collaboration between project staff is key. They need to meet to discuss the project progress, current risks and issues, work outstanding and the plan going forward.

There are now a range of software providers that help your team to collaborate more easily, using MSN messenger, intranets, extranets and forums. They allow your team to identify and resolve issues quickly. They promote positive communication and they help you build a "team spirit" even if your team are spread across different physical locations.

Sample Providers: BaseCampHQ, AceProject

Type 5: Administration Software
Admin is often one of the most time consuming tasks for a manager. You need to create documentation, keep accounts up-to-date and administer risks and issues. Yet it is typically the area that you can gain the greatest level of efficiency in, using smart software tools.

By implementing templates to generate documentation quickly and software for your accounts, you can save an enormous amount of time administering, leaving you free to focus on the people side of running a project.

Sample Providers: Method123 for templates, Oracle Projects for accounting

We hope this has given you a brief overview of the types of project management software available in the market so you can reduce the 196 million software search results to just a few!

If you are interested in viewing two great project management solutions, then check these out now...

	Project Management Templates
	Project Management Methodology

Search Amazon.com for Project Management software

How to Deliver Projects On Time

As a Project Manager, you are always pushed to deliver your projects on time. Not a day goes by that you don't worry about whether you are on, behind or ahead of schedule.

To help you to boost your chances of success, we've described here...

How to Deliver Projects On Time

On a project, it is easy to get bogged down with the details, and forget about the "helicopter view". Other than completing Project Status Reports at the end of each reporting period, many Project Managers adopt the approach that their own knowledge and experience alone will ensure that the project delivers on time.

But the reality is that all project managers need to complete some basic steps throughout the project, to make sure that it is "on track", otherwise it is easy for a project to go off the rails.

So what are the steps that a Project Manager needs to complete to make sure that the project is delivered on time? We have listed them for you here...

Step 1: Plan to succeed
There is an old project saying: "Plan not to fail, don't fail to plan". By creating a detailed Project Plan with fixed delivery milestones that your customer agree with, you will gain a firm basis for measuring the progress of the project.

Make sure that your plan includes delivery milestones every month where possible and that the Work Breakdown Structure is detailed enough to show all of the critical tasks that must be completed. Non-critical tasks can be re-scheduled later, but tasks which are on the critical path must be completed by the due dates specified.

Step 2: Clock the time spent
Almost every Project Manager these days has implemented Timesheets for tracking time. But how many actually record that time in a Time Sheet Register and update the Project Plan with the time spent per project task?

By doing this, you can allocate a set amount of time and effort to complete every task on the Project Plan, and easily identify when you are late. If staff spend more time than that allocated and the task is still not complete, then you will need to investigate why this has occurred and resolve the problems identified. This process is called the Time Management Process and it ensures that staff complete tasks where possible, in the timeframe allocated to them.

Step 3: Create a helicopter view
It is harder than it looks. To accurately monitor and report on the project at a helicopter level, you need a crystal clear picture of the project delivery against a schedule.

You need to know for every task in your project plan, whether it is under / on / over schedule and what the overall impact on the project is. You also need to have identified the critical path and determined whether the tasks on this path are on track.

Only with this detailed knowledge can you gain a sufficient "helicopter view" to be able to report accurately to your Project Board or Sponsor. Remember, by keeping your sponsor accurately informed of the project progress, you will ensure their full support.

Step 4: Going "Belly Up"
So you have done all this but your project is going "belly up" (i.e. slipping). What then? Well the first step is to investigate the reasons why. It may be that the scope of the project has grown from that originally agreed, or you have encountered complexities that were not identified when you started, or that the plan was too aggressive in the first place.

Regardless, you need to 1) Stop 2) Investigate 3) Resolve 4) Report. To resolve the problem, you may need to formally redefine the scope of the project, hire additional resources to help out, or agree with the customer on a new delivery timeframe. You will also need to update the Project Plan with any additional tasks required to fix the problems, and then you will need to report on the new status to your Sponsor.

Step 5: Getting the right mix
Almost every project team will encounter unforeseen changes, risks and issues. Your level of success will depend on how you manage these when they arise. By implementing these project processes below, you can ensure that your mix of changes, risks and issues are easily manageable:

	Change Management Process
	Risk Management Process
	Issue Management Process

To help you deliver projects on time and keep your Project Sponsor happy, use these two great project management solutions now...

	Project Management Templates
	Project Management Methodology