5 Minutes Project Management Podcast http://www.ricardo-vargas.com Ricardo Viana Vargas, former Chairman of PMI, is a project, portfolio and risk management specialist. Author of several books on project management, Vargas manages a portfolio of over 18 billion dollars and is also a recognized reviewer of the PMBOK Guide. Fri, 19 Dec 2014 06:51:42 +0000 en-US hourly 1 http://wordpress.org/?v=4.0.1 ©Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP info@ricardo-vargas.com (Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP) info@ricardo-vargas.com(Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP) project management, gerenciamento de projetos, riscos, risk, risk management, PMI, PMP, portfolio management, program management, CAPM, IPMA 1440 project management, gerenciamento de projetos, riscos, risks, risk management, PMI, PMP, portfolio management, program management, CAPM, IPMA 5" PM Podcast is a Ricardo Vargas creation that intends to present and debate the main news and themes in the project management field, in a practical and easy way. 5" PM Podcast is a Ricardo Vargas creation that intends to present and debate the main news and themes in the project management field, in a practical and easy way. Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP info@ricardo-vargas.com No no http://www.ricardo-vargas.com/wp-content/themes/grid_focus/images/capa_itunes_podcast-1400px.png Ricardo Viana Vargas http://www.ricardo-vargas.com 144 144 Building Highly Effective Teams – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-2-of-2/#comments Mon, 15 Dec 2014 11:22:59 +0000 http://www.ricardo-vargas.com/?p=5830 http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-2-of-2/feed/ 0 8:30 In this podcast, Ricardo continues to talk about Highly Effective Teams, subject of his new book. He comments on the trust between members, effective decision-making, conflict management and how to recognize the work and create opportunities for the team and for each member. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Building Highly Effective Teams – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-1-of-2/#comments Tue, 09 Dec 2014 22:01:51 +0000 http://www.ricardo-vargas.com/?p=5824 http://www.ricardo-vargas.com/podcasts/building-highly-effective-teams-part-1-of-2/feed/ 0 7:26 In this podcast, Ricardo gives tips on how to transform a group of people in a highly effective team, a subject he addresses in his new book, in partnership with the author Michael Nir. Stay tuned for continuation of this podcast next week. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Project Director, Manager, Coordinator or Leader: Who am I? http://www.ricardo-vargas.com/podcasts/project-director-manager-coordinator-or-leader-who-am-i/ http://www.ricardo-vargas.com/podcasts/project-director-manager-coordinator-or-leader-who-am-i/#comments Sun, 16 Nov 2014 21:47:26 +0000 http://www.ricardo-vargas.com/?p=5795 http://www.ricardo-vargas.com/podcasts/project-director-manager-coordinator-or-leader-who-am-i/feed/ 1 4:54 In this podcast, Ricardo raises one question and makes assumptions about why some organizations sometimes provide different titles for whom is responsible for the project management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Danger of Multitasking in Projects http://www.ricardo-vargas.com/podcasts/the-danger-of-multitasking-in-projects/ http://www.ricardo-vargas.com/podcasts/the-danger-of-multitasking-in-projects/#comments Tue, 11 Nov 2014 13:58:59 +0000 http://www.ricardo-vargas.com/?p=5785 In this podcast, Ricardo talks about the danger of performing multiple tasks without understanding the implications. He explains that we must always consider the residual time between tasks and the real time (or Takt Time) of each task. The Takt Time concept, according to the www.businessdictionary.com, is an adjustable time unit used in lean production to synchronize the rate of production with the rate of demand. Computed by dividing available production by the number of items to be produced, takt time provides a precise rhythm to run an entire process sequence that maximizes efficiency whereas minimizing wastes. Although popularized by the Japanese, takt time is a German term which refers to rhythm or beat of music.

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http://www.ricardo-vargas.com/podcasts/the-danger-of-multitasking-in-projects/feed/ 0 00:01:01 In this podcast, Ricardo talks about the danger of performing multiple tasks without understanding the implications. He explains that we must always consider the residual time between tasks and the real time (or Takt Time) of each task. The Takt Time concept, according to the www.businessdictionary.com, is an adjustable time unit used in lean production to synchronize the rate of production with the rate of demand. Computed by dividing available production by the number of items to be produced, takt time provides a precise rhythm to run an entire process sequence that maximizes efficiency whereas minimizing wastes. Although popularized by the Japanese, takt time is a German term which refers to rhythm or beat of music. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the PMI Global Congress North America 2014 in Phoenix – USA http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-global-congress-north-america-2014-in-phoenix-usa/ http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-global-congress-north-america-2014-in-phoenix-usa/#comments Wed, 29 Oct 2014 22:11:51 +0000 http://www.ricardo-vargas.com/?p=5774 http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-global-congress-north-america-2014-in-phoenix-usa/feed/ 1 6:46 Ricardo comments on the PMI Global Congress North America, held in October 2014 in Phoenix, Arizona. He highlights the more informal approach of the event and the inspirational talk by former basketball player, Earvin "Magic" Johnson. He also gives an overview of the main topics presented by project managers from all over the World. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Sustainability Marker to Support the Project Selection Process: the UNOPS Case http://www.ricardo-vargas.com/articles/sustainability-marker-to-support-the-project-selection-process-the-unops-case/ http://www.ricardo-vargas.com/articles/sustainability-marker-to-support-the-project-selection-process-the-unops-case/#comments Sat, 25 Oct 2014 03:00:53 +0000 http://www.ricardo-vargas.com/?p=5744
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Abstract

The objective of this paper is to present a non conventional approach that is being currently implemented at the United Nations Office for Project Services, when selecting new projects globally, in order to include, as project selection criteria, social, environmental and economic sustainability aspects in humanitarian and development projects.

Using a set of twenty five themes in four major groups, an internal tool called Sustainability Marker was developed to analyse projects above and beyond the traditional financial criteria in order to evaluate the real impact of the project to the sustainable development goals.

Traditional Project Evaluation Criteria

When looking into how organizations decide over which projects to execute, we can notice a constant desire to have clear, objective and mathematical criteria (HAAS & MEIXNER, 2005). However, decision making is, in its totality, a cognitive and mental process derived from the most possible adequate selection based on tangible and intangible criteria (SAATY, 2009), which are arbitrarily chosen by those who make the decisions.

Basically, the prioritization of projects in a portfolio is nothing more than an a sequencing scheme based on a benefit cost relationship for each project. Projects with higher benefits, when compared to their costs, will have a higher priority. It’s important to observe that a benefit cost relationship does not necessarily mean the use of exclusive financial criteria like the widely known benefit cost ratio, but instead a broader concept of the reaped benefits from executing the project and their related efforts (VARGAS, 2010).

In most enterprises, the main criteria groups are related to financial, strategic, risks, urgency and stakeholder commitment aspects (VARGAS, 2010). The main challenge is to put in place criteria that can capture outcomes instead of just basic outputs. Many real cases support the lack of understanding of the real expected outcomes, where projects were delivered to time, cost and quality objectives and yet are not yielding positive results (DUGAL, 2010). Project managers have constructed bridges without access roads, have built hospitals and courthouses which are empty later on, have implemented ERP systems and other business changes that have destroyed organizations1.

PMI’s Standard for Portfolio Management (PMI, 2012) mentions that the scope of a project portfolio must stem from the strategic objectives of the organization. These objectives must be aligned with the business scenario which in turn may be different for each organization. Consequently, there is no perfect model that covers the right criteria to be used for any type of organization when prioritizing and selecting its projects. The criteria to be used by the organization should be based on the values and preferences of its decision makers.

UNOPS Sustainability Criteria

With a strong focus on the developing world, United Nations Office for Project Services (UNOPS) states that a project can only be considered sustainable if it address the impacts on a broader set of stakeholders, including generations not yet born (BOBROW, 2014). This comprises sustainability aspects that should be embedded into the project while executing it (How) and the sustainability aspects after its conclusion (Aim).

Aim

How

Projects and programmes comply to strict criteria concerning environmental and social scope and planned results before they are initiated.

UNOPS teams embed cross-cutting initiatives, such as how to get the best community support, into their project planning and implementation phases.

Insert sustainable principles into every single project is a major task and sometimes the decision on what actions should be in place create a dilemma for the project manager and the project team. In the locations where UNOPS operates, funding is often too limited to address all of the basic needs. Let’s take the example of building a school. There can be enough funding to put solar panels on the roof or to build more class room space but not both. If we put the panels on then the school can have electricity and provide space for computers and potentially evening classes. However, if instead the classroom is made larger, more children can attend. How should a project manager make such a decision? (BOBROW, 2014).

7199.pngExhibit 2 – Example of transforming Inputs in to outputs, outcomes and impact in the development sector (UNOPS, 2014)

In order to support an informed decision making process, UNOPS defined four dimensions of sustainability:

  • Social – It covers aspects such as gender, population, vulnerability and other aspects related to the community where the project is being implemented.
  • Environmental – It covers aspects such as air, land, water and biodiversity where the project is being implemented.
  • Economic – It covers aspects such as the economic relevance for the community, job generation, equity and livelihood.
  • National Capacity – It covers aspects such as the use of local capacity to deploy the project including skills and knowledge, corruption, political and social stability.

25 Themes of the Sustainability Marker

After discussions with partners, project managers and experts in the field, UNOPS developed the 25 Sustainability Themes that are used by the Sustainability Marker to evaluate projects (Exhibits 3, 4, 5 and 6).

7209.png

Exhibit 3 – Social themes

7219.pngExhibit 4 – Economic themes

7229.png

Exhibit 5 – Environmental themes

7238.pngExhibit 6 – National Capacity themes

Evaluating the Sustainability Themes

UNOPS project life cycle follows a five stage process (UNOPS, 2014) as presented in the Exhibit 7.

7249.png

Exhibit 7 – UNOPS Engagement Process (UNOPS, 2014)

The Engagement process steps follow a progressive development where more effort is put in place during the initial phases, in order to collaborate with the project’s key stakeholders to adjust the plans and outputs to address the relevant sustainability aspects. This approach follows the concept that the capability to add value decreases and the cost of correction increases exponentially over time for an given project (VARGAS, 2014).

7258.png

Exhibit 8 – Potential to add value again the cost of correction for an specific project (VARGAS, 2014)

On the Lead Generation phase, a bigger effort is put into place to work with the key stakeholders on the relevance of each sustainability aspect.

During this stage, training, discussion forums and informal assessments are put in place to create the positive environment for the Pre-Engagement phase assessment.

On the Pre-Engagement phase, the team needs to assess the twenty five themes for the project delivery (effects during project delivery) and for the post-project (effects after the outcome has been delivered). The effect-based scale is presented on the Exhibit 9.

8051.pngExhibit 9 – Effect based scale on the Pre-Engagement Phase (during and after project delivery)

After consolidating the information, the marker chart is presented for both Post-project and During Delivery scenarios (Exhibit 10).

7921.png
7930.png

Exhibit 10 – Example of Sustainability Marker Wheel Graph during the Pre-Engagement phase

After the Pre-engagement phase, the project team will work with the stakeholders to address any relevant sustainability aspects through direct actions in the project delivery or changes to the scope statement and scope definition (PMI, 2013a) to include specific activities, potential budget lines or a direct benefit of the project, if applicable (Exhibit 11).

8062.pngExhibit 11 – Action plan scale on the Initiation Phase

The final result depicts an expected improvement to the sustainability aspects to be delivered by the project by the implemented actions, like it is presented in the Exhibit 12.

7297.pngExhibit 12 – Example of Sustainability Marker Bar Graph during the Initiation Phase (Including Action Plans)

Conclusions

This paper aimed to present and discuss the selection criteria implemented by UNOPS to address social, environmental and economic sustainability in humanitarian and development projects by using twenty five themes grouped in four dimensions for the project execution and post-project results.

The UNOPS Sustainability Marker is currently on pilot in most of the 1,300 UNOPS projects globally. Challenges related to different cultural aspects, resistance to change and short term need x long term perspective have been addressed and incorporated on each new release of the tool!

References

BOBROW, H. (2014). Taking Responsibility for Project Success: Sustainability and the Project Process. Dubai: PMI Global Congress EMEA.

DUGGAL, J.S. (2010). Next Level Up: How Do You Measure Project Success? Rethinking the Triple Constraint. Retrieved on 1st August 2014 from http://www.pmi.org/Knowledge-Center/Next-Level-Up-How-Do-You-Measure-Project-Success.aspx

HAAS, R. & MEIXNER, O. (2005). An Illustrated Guide To Analytic Hierarchy Process. Vienna: University of Natural Resources and Applied Life Sciences.

PMI (2013a). The Project Management Body of Knowledge: Fifth Edition. Newtown Square: Project Management Institute.

PMI (2013b). The Standard for Portfolio Management: Third Edition. Newtown Square: Project Management Institute.

SAATY, T. L. (2009). Extending the Measurement of Tangibles to Intangibles. International Journal of Information Technology & Decision Making, Vol. 8, No. 1, pp. 7-27, 2009. Available at SSRN: http://ssrn.com/abstract=1483438.

UNOPS (2014). Body of Knowledge Sustainable Project Management Practice: Twelfth Edition. Copenhagen: UNOPS.

VARGAS, R. V. (2010). Using the Analytic Hierarchy Process (AHP) to Select and Prioritize Projects in a Portfolio. Washington/DC: PMI Global Congress North America.

VARGAS, R. V. (2014). Gerenciamento de Projetos – Estabelecendo Diferenciais Competitivos: Oitava Edição. Rio de Janeiro: Brasport (Brazilian Portuguese).

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The Responsibility Assignment Matrix – RACI http://www.ricardo-vargas.com/podcasts/the-responsibility-assignment-matrix-raci/ http://www.ricardo-vargas.com/podcasts/the-responsibility-assignment-matrix-raci/#comments Wed, 22 Oct 2014 13:53:43 +0000 http://www.ricardo-vargas.com/?p=5748 http://www.ricardo-vargas.com/podcasts/the-responsibility-assignment-matrix-raci/feed/ 0 5:53 In this podcast, Ricardo talks about the responsibility assignment matrix – RACI, a very useful information tool in Human Resources, Communications and Stakeholders management. This matrix associate tasks and the people/functions responsible for them using the categories: Responsible (R), Accountable (A), Consulted (C) and Informed (I). 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Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Career in Project Management – Part 4 of 5: Flexibility and Self Knowledge http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-4-of-5/ http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-4-of-5/#comments Mon, 26 May 2014 02:00:05 +0000 http://www.ricardo-vargas.com/?p=5622 http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-4-of-5/feed/ 0 8:03 In this fourth episode of the series of 5 podcasts on career, Ricardo continues talking about the 10 dimensions of career in project management, now addressing the flexibility and self knowledge dimensions. He says that we need to be flexible to increase the options for career growth. Additionally, we must know our flaws, as well as our strengths, to know how to get around them. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Career in Project Management – Part 3 of 5: Persistence and Dynamism http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-3-of-5/ http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-3-of-5/#comments Mon, 19 May 2014 23:45:26 +0000 http://www.ricardo-vargas.com/?p=5606 http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-3-of-5/feed/ 0 7:31 In this third episode of the series of 5 podcasts on career, Ricardo continues talking about the 10 dimensions of career in project management, now addressing the persistence and dynamism dimensions. He says that these two dimensions are crucial to success in any career stage in which you find yourself. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Career in Project Management – Part 2 of 5: Focus and Planning http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-2-of-5/ http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-2-of-5/#comments Mon, 12 May 2014 16:35:13 +0000 http://www.ricardo-vargas.com/?p=5598 http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-2-of-5/feed/ 1 7:50 In this second episode of the podcasts series on career, Ricardo continues talking about the 10 dimensions of career in project management, now addressing the focus and planning dimensions. He explains how to focus and how to plan realistically your career. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Career in Project Management – Part 1 of 5: Opening, Experience and Study http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-1-of-5/ http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-1-of-5/#comments Mon, 05 May 2014 05:56:32 +0000 http://www.ricardo-vargas.com/?p=5589 http://www.ricardo-vargas.com/podcasts/career-in-project-management-part-1-of-5/feed/ 9 9:02 In this podcast, Ricardo begins a special series of five episodes on career in project management. In this series, he will address the perspectives of those who are at the beginning, going through a transition or are looking to expand their horizons. See also the related presentation. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Where should I register the assumptions and restrictions? http://www.ricardo-vargas.com/podcasts/where-should-i-register-the-assumptions-and-restrictions/ http://www.ricardo-vargas.com/podcasts/where-should-i-register-the-assumptions-and-restrictions/#comments Wed, 26 Mar 2014 19:02:22 +0000 http://www.ricardo-vargas.com/?p=5570 http://www.ricardo-vargas.com/podcasts/where-should-i-register-the-assumptions-and-restrictions/feed/ 1 4:56 In this podcast, Ricardo explains that, unlike what many people think, the assumptions and restrictions (or constraints) often need to be registered not only in one but in several documents throughout the progression of the project planning. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No How to train your sponsor http://www.ricardo-vargas.com/podcasts/how-to-train-your-sponsor/ http://www.ricardo-vargas.com/podcasts/how-to-train-your-sponsor/#comments Wed, 12 Mar 2014 14:08:25 +0000 http://www.ricardo-vargas.com/?p=5561 http://www.ricardo-vargas.com/podcasts/how-to-train-your-sponsor/feed/ 6 4:35 In this podcast, Ricardo addresses one of the biggest challenges in the project environment, how can we educate the sponsor to make a decision based on facts, not just feeling. He also gives tips on how we can escape the dangers in this process. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Management of Very Small Projects: 2 Practical Management Approaches http://www.ricardo-vargas.com/podcasts/management-of-very-small-projects-2-practical-management-approaches/ http://www.ricardo-vargas.com/podcasts/management-of-very-small-projects-2-practical-management-approaches/#comments Tue, 04 Mar 2014 20:59:41 +0000 http://www.ricardo-vargas.com/?p=5554 http://www.ricardo-vargas.com/podcasts/management-of-very-small-projects-2-practical-management-approaches/feed/ 2 4:15 In this podcast, Ricardo talks about two approaches in the management of very small projects. The first approach deals with the management of projects in a cluster. The second seeks to simplify the processes of project management, reducing management complexity. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Do you really know the meaning of the different tasks relationships? – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-2-of-2/#comments Mon, 03 Feb 2014 04:52:50 +0000 http://www.ricardo-vargas.com/?p=5538 http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-2-of-2/feed/ 3 6:44 In this podcast, Ricardo continues to talk about the types of relationships between the activities in the schedule. Today he tackles the Finish-to-Finish and the Start-to-Finish types. At the end, he leaves a great tip. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Do you really know the meaning of the different tasks relationships? – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-1-of-2/#comments Mon, 27 Jan 2014 19:11:21 +0000 http://www.ricardo-vargas.com/?p=5527 http://www.ricardo-vargas.com/podcasts/do-you-really-know-the-meaning-of-the-different-tasks-relationships-part-1-of-2/feed/ 1 5:35 In this first podcast of two, Ricardo talks about the types of relationships between the activities in the schedule. It's a simple concept but a lot of people do not fully understand when putting it into practice. This week, Ricardo explains when to use the Finish-to-Start and Start-to-Start links. 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Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Lines of Balance – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-2-of-2/#comments Mon, 13 Jan 2014 01:00:42 +0000 http://www.ricardo-vargas.com/?p=5506 http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-2-of-2/feed/ 1 5:47 In this second part of the podcast about Lines of Balance, Ricardo talks more about how this concept can be used in the project's planning and control phases. This time, Ricardo gives an example about the application of lines of balance in an election vote counting process. Do not forget to listen to the first part of this podcast. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Lines of Balance – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-1-of-2/#comments Mon, 06 Jan 2014 16:51:21 +0000 http://www.ricardo-vargas.com/?p=5496 http://www.ricardo-vargas.com/podcasts/lines-of-balance-part-1-of-2/feed/ 1 6:24 In this podcast, Ricardo begins to explain what Line of Balance are and how can they be used. He gives an example of how to plan repetitive tasks in order to achieve optimal resources allocation and also know how the project's speed and progress evolve. Next week, he will bring a example related to elections. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Perspective 2014 http://www.ricardo-vargas.com/podcasts/perspective-2014/ http://www.ricardo-vargas.com/podcasts/perspective-2014/#comments Mon, 30 Dec 2013 16:21:25 +0000 http://www.ricardo-vargas.com/?p=5488 http://www.ricardo-vargas.com/podcasts/perspective-2014/feed/ 1 5:38 In this podcast, the last one of 2013, Ricardo talks about his perspectives for next year, in the world of project management. He highlights that the project manager's technical ability is becoming something already established and the professional should seek to differentiate herself to improve her ability to propose new ideas, new approaches, to risk and innovate in the projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Retrospective 2013 http://www.ricardo-vargas.com/podcasts/retrospective-2013/ http://www.ricardo-vargas.com/podcasts/retrospective-2013/#comments Tue, 24 Dec 2013 14:41:53 +0000 http://www.ricardo-vargas.com/?p=5480 http://www.ricardo-vargas.com/podcasts/retrospective-2013/feed/ 0 5:25 In this podcast, Ricardo makes his retrospective of 2013. Again, a year with mixed feelings. A good year for some, a tough one for others. One of the points highlighted by Ricardo was the dangerous excess of expectation, from companies, governments and professionals, about what really project management can bring as a result, when well executed. In the next podcast, he will talk about the perspectives for 2014. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Who will do the technical work of the project? Is it the PM? http://www.ricardo-vargas.com/podcasts/who-will-do-the-technical-work-of-the-project-is-the-project-manager/ http://www.ricardo-vargas.com/podcasts/who-will-do-the-technical-work-of-the-project-is-the-project-manager/#comments Wed, 04 Dec 2013 13:17:59 +0000 http://www.ricardo-vargas.com/?p=5453 http://www.ricardo-vargas.com/podcasts/who-will-do-the-technical-work-of-the-project-is-the-project-manager/feed/ 9 4:45 In this podcast, Ricardo talks about a question that is one of the most frequent in the project area: Does the project manager must have technical knowledge regarding the project product? An engineering project, for example, must necessarily be managed by an engineer? Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No There is No Good Deal with Those Who are Not Good: The Lack of Good Faith in Projects http://www.ricardo-vargas.com/podcasts/there-is-no-good-deal-with-those-who-are-not-good-the-lack-of-good-faith-in-projects/ http://www.ricardo-vargas.com/podcasts/there-is-no-good-deal-with-those-who-are-not-good-the-lack-of-good-faith-in-projects/#comments Mon, 25 Nov 2013 19:27:23 +0000 http://www.ricardo-vargas.com/?p=5445 http://www.ricardo-vargas.com/podcasts/there-is-no-good-deal-with-those-who-are-not-good-the-lack-of-good-faith-in-projects/feed/ 2 6:14 In this podcast, Ricardo talks about a complex situation where a stakeholder, on the client side, refuses to accept deliveries, seeking to impute contractual penalties to the company managing the project. Ricardo shows two actions, on preventive and one corrective, that can be taken. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Cultural Differences: Why Awareness and Respect are Vital for the Project Success http://www.ricardo-vargas.com/podcasts/cultural-differences-why-awareness-and-respect-are-vital-for-the-project-success/ http://www.ricardo-vargas.com/podcasts/cultural-differences-why-awareness-and-respect-are-vital-for-the-project-success/#comments Wed, 20 Nov 2013 16:10:53 +0000 http://www.ricardo-vargas.com/?p=5439 http://www.ricardo-vargas.com/podcasts/cultural-differences-why-awareness-and-respect-are-vital-for-the-project-success/feed/ 0 5:43 In this podcast, Ricardo talks about the cultural differences within a project environment. He gives valuable tips on how the project manager must address the differences within his team, the sponsors and the stakeholders and can thus create an effective communication process, based on respect and cultural integrity of all parties. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Directly from the PMO Symposium 2013 in San Diego – USA http://www.ricardo-vargas.com/podcasts/directly-from-the-pmo-symposium-2013-in-san-diego-usa/ http://www.ricardo-vargas.com/podcasts/directly-from-the-pmo-symposium-2013-in-san-diego-usa/#comments Wed, 13 Nov 2013 17:01:58 +0000 http://www.ricardo-vargas.com/?p=5434 http://www.ricardo-vargas.com/podcasts/directly-from-the-pmo-symposium-2013-in-san-diego-usa/feed/ 0 4:48 In this podcast, directly from the PMO Symposium 2013 in San Diego, Ricardo makes a brief summary of his perceptions about the main themes of the event, and comments the keynotes by Robert Kaplan (one of the creators of the Balaced Score Card - BSC) who spoke about the strategic position of the PMO, and Daniel Pink, on influence. He also comments on the winning of PMO of the Year Award. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Dealing with Friction related to the Functional Hierarchy and the Project http://www.ricardo-vargas.com/podcasts/dealing-with-friction-related-to-the-functional-hierarchy-and-the-project/ http://www.ricardo-vargas.com/podcasts/dealing-with-friction-related-to-the-functional-hierarchy-and-the-project/#comments Mon, 04 Nov 2013 23:57:39 +0000 http://www.ricardo-vargas.com/?p=5426 http://www.ricardo-vargas.com/podcasts/dealing-with-friction-related-to-the-functional-hierarchy-and-the-project/feed/ 1 6:29 In this podcast, Ricardo about the difficulties that the project manager goes through when dealing with an organization with low maturity in project management. He shows how the project manager can cope with the problems arising from this scenario. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Determining the Mathematical ROI of a Project Management Office (PMO) Implementation http://www.ricardo-vargas.com/articles/determining-the-mathematical-roi-of-a-project-management-office-pmo-implementation/ http://www.ricardo-vargas.com/articles/determining-the-mathematical-roi-of-a-project-management-office-pmo-implementation/#comments Mon, 28 Oct 2013 08:06:27 +0000 http://www.ricardo-vargas.com/?p=5404 Publication

PMI Global Congress 2013 – North America
New Orleans – Louisiana – USA – 2013

SUMMARY

The objective of this paper is to present, discuss and apply a mathematical model based on the use of Monte Carlo simulation in conjunction with researches on project success/failure rates of projects to develop a 10 step model to calculate the mathematical return on investment (ROI) for a Project Management Office (PMO) implementation.

The paper aims to provide guidance on how intangible results resulting from the project planning and control can be linked to potential savings in time and cost comparing with projects poorly managed (KWAK & IBBS, 2000). It is not the scope of this paper to demonstrate the positive impact of good project management practices. The main objective is to discuss possible ways of measuring results in order to have a more clear cost benefit analysis regarding the value of a PMO Setup (HUBBARD, 2010).

This paper also discusses the main challenges to quantify benefits considering cultural, social and value perception dimensions in order to translate benefits into clear and measurable numbers.

The Importance of Clear Benefit Measurement

Business improvement processes like the Project Management Office implementation are, most of the time, linked to indirect benefits achievement. In the past, program, project, or process success was measured by activity: number of people involved, money spent, days to complete. Little consideration was given to the benefits derived from these activities because they were considered impossible to be clearly measured (PHILIPS & PHILIPS, 2007).

The intention of clear measurements of benefits can be based in the following arguments:

  • Price/money is a proxy for value.
  • Measurable outcomes contribute to a better alignment and integration with financial systems performance.
  • More tangible results support the identification of critical sources of value.
  • Promotes communication and makes results quantitatively tangible.

Understand the clear impact on project results of the project management processes, tools and existing support and how this structure contribute to better project results became a key driver to understand the value of project management (EIU, 2009)

Model Overview

The proposed model is based on 10 (ten) processes that are organized into 6 (six) groups (Exhibit 01). Both the processes and the groups inter related to each other in order to produce the needed steps to understand the real costs and benefits brought by the Project Management Implementation.

Exhibit 1

Exhibit 1 – 10 Processes to calculate the Return on Investiment of a Project Management Office.

The processes are defined following the structure proposed at the PMBOK Guide (PMI, 2013) with Inputs, Tools and Techniques and Outputs.

PROJECT PORTFOLIO

The Project Portfolio group describes the process that should be in place to understand the scope of what should be managed by a potential Project Management Office (PMO). The intend is to make sure that the potential projects that will be supported by the project management office are identified and the cost, timeframe and benefits (value) of these projects are calculated.

The Project Portfolio group is divided in the following processes

  • Create the portfolio of projects
  • Calculate financial return of projects in the portfolio
  • Categorize projects

Create the Portfolio of Projects

This is process is responsible for the creation of the portfolio of projects. Based in working groups and the support of experts, it aims to create a list of the projects that will be managed by the PMO including some preliminary information like the Project objectives, estimated duration and budget (Exhibit 2).

Exhibit 2

Exhibit 2 – Create Portfolio of Projects

The Project Portfolio can be presented in different ways but the most suitable to support the upcoming process is a list with the name of the project, estimated duration and budget (Exhibit 3). If the Project Office will support all kind of projects at a corporate, the list of project can include a very different set of initiatives.

Exhibit 3

Exhibit 3 – Example of basic project list

The preliminary project information can include all supporting information about the project, including main objectives, outputs, expected benefits and basic scope (Exhibit 4). This preliminary information can be also called Project Brief or Outline Business Case (UK CABINET OFFICE, 2011)

Exhibit 41

Exhibit 4 – Example of project preliminary information

Calculate Financial Return of Projects in the Portfolio

After identifying the potential portfolio of projects to be managed, it becomes important to calculate the benefits in terms of financial results of each project. This is one of the most challenging steps towards the calculation of the ROI of a Project office. Using the preliminary information, all proposed benefits will be measured in order to find clear outcomes (Exhibit 5).

Exhibit 5

Exhibit 5 – Calculate Financial Return of Projects in the Portfolio

†In some cases, this is easily measurable in terms of increase in the production, marketplace, etc. In other projects, the intangible results must be converted in to an estimated final outcome. As an example, one main outcome of the ìUniversity Tiger Screwsî project is to develop new capabilities in the current staff in order to reduce the investments with new hires. A range of potential savings is defined and through the pairwise comparison using the Analytic Hierarchy Process (SAATY, 1980, SAATY, 2009 and VARGAS, 2010), the Expected Value of the benefit could be estimated (Exhibit 6).

Exhibit 6

Exhibit 6 – Example of the use of AHP to estimate the Expected Value of the benefit of a project

The main output of this project is an updated list of projects including the estimated financial benefits.

Categorize Projects (Optional)

For organizations with a wide range of projects, the categorization of projects could add value in the analysis and stratification of efforts (Exhibit 7).

This optional process group the projects into different categories (Exhibit 8) like

  • Departments
  • Risk
  • Value
  • Sponsoring group
  • Geographic location
Exhibit 7

Exhibit 7 – Categorize Projects

Exhibit 8

Exhibit 8 – Example of a categorized list of projects with the calculated benefits highlighted

DATA DISTRIBUTION PROFILE

The Data Distribution Profile aims to determine the best ìrisk profileî of the portfolio to archive the benefits and it contains the process Determine Optimistic, Most Likely and Pessimistic Profile for Schedule, Investments and Results.

Using market research, historical information from previous projects and benchmarking, the objective of this process is to define the optimistic, pessimistic and most likely scenarios for the duration, costs and financial results of each project (Exhibit 9).

Exhibit 9

Exhibit 9 – Determine Optimistic, Most Likely and Pessimistic Profile for Schedule, Investment and Results

Different external sources can be used to support the decision as follows

  • Standish Group Chaos Manifesto (STG, 2013)
  • The IPA Institute Database of Capital Projects (IPA, 2013)
  • PMI Pulse Report (PMI, 2013)
  • Reports and researches from management consulting companies

This process requires a lot of negotiation to set the right thresholds for the project without being biased by individuals with over optimistic or over pessimistic behaviors.

The determination of the profiles can be done considering that duration, costs and financial results follow the same distribution (Exhibit 10) or a different set of distributions for each element.

Exhibit 10

Exhibit 10 – Example of probabilistic forecasting based on project complexity level. In this case, a high complexity project with a value of $1,000,000 will cost between $1,250,000 and 1,750,000 without PM support and $1,000,00 and 1,150,000 with proper PM support.

SIMULATION

The Simulation group describes the process associated with the Monte Carlo simulation of the duration of the projects in the portfolio, associated costs and financial results.

“Monte Carlo” was a nickname of a top-secret project related to the drawing and to the project of atomic weapons developed by the mathematician John von Neumann (POUNDSTONE, 1993). He discovered that a simple model of random samples could solve certain mathematical problems, that couldnít be solved up to the moment.

The simulation refers, however, to a method in which the distribution of possible results is produced from successive recalculations of the data of the project, allowing the construction of multiple scenarios . In each one of the calculations, new random data is used to represent a repetitive and interactive process. The combination of all these results creates a probabilistic distribution of the results (Exhibit 11).

Exhibit 11

Exhibit 11 – Construction of model of distribution of costs and activities or work packages making up a final distribution from random data of the project (PRITCHARD, 2001).

The feasibility of produced distribution relies on the fact that, for a high number of repetitions, the model produced reflects the characteristics of the original distribution, transforming the distribution in a plausible result for analysis. The simulation can be applied in schedules, costs and other project indexes.

The Simulation group is divided in the following processes

  • Simulate Portfolio of Projects
  • Identify Gains in Schedule, Investment and Results with the Implementation of the PMO

Simulate Portfolio of Projects

This is process is responsible for the simulation of the schedule gains, investment savings and improvements of financial results (Exhibit 12).

Exhibit 12

Exhibit 12 – Simulate Portfolio of Projects

The simulation is produced using simulation software and the results are a range of improvements in duration, budget and financial results with their respective confidence level (Exhibit 13, 14 and 15).

Exhibit 13

Exhibit 13 – Example of simulation output for the savings in the total time of the projects for using the PMO. In this case there is a 90% confidence that the savings will be above 59,87 months.

Exhibit 14

Exhibit 14 – Example of simulation output for the savings in the budget of the projects for using the PMO. In this case there is a 90% confidence that the savings will be at least 7,079,051.85 months.

Exhibit 15

Exhibit 15 – Example of simulation output for the gains in financial results of the projects for using the PMO. In this case there is a 90% confidence that the savings will be at least 3,040,938.53 months.

Identify Gains in Schedule, Investment and Results with the Implementation of the PMO

After the simulation is concluded, the results are collected for a predefined confidence level in order to identify the measurable improvements (Exhibit 16 and 17).

Exhibit 16

Exhibit 16 – Identify Gains in Schedule, Investment and Results with the Implementation of the PMO

 

Exhibit 17

Exhibit 17 – Example of gains based on the simulation results (Exhibit 13, 15 and 15)

 

INVESTMENTS IN THE PMO

The other aspect that must be considered when evaluating the ROI of a project implementation is to calculate the amount of costs the organization will incur to create and maintain the Project Office.

Different costs can be associated with the PMO (AUBRY, HOBBS, MÜLLER & BLOMQUIST, 2010). The most common elements are

  • Personal cost
  • Software and hardware
  • Advisory services
  • Training
  • Others

Exhibit 18

Exhibit 18 – Calculate Investment and Operational Costs of the PMO/Project Structure

The main output of this process is the total cost of the PMO setup and operation for a predefined timeframe (Exhibit 19).

Exhibit 19

Exhibit 19 – Example of a PMO Setup and operation cost in a 5 (five) year timeframe. All values should be adjusted to Present Value

 

INFLUENCE OF THE PMO IN THE RESULTS

Based on the studies discussed in the step 4 of the process, it is important to highlight that not all benefits and positive results are only based on the existence and operation of the PMO. Many other external factors can benefit the results and are out of the control of the project manager and his/her team.

Some examples of benefit / dis-benefit† drivers not related to project management implementations are (UK CABINET OFFICE, 2011)

  • External economic factors like currency exchange rate, interest rates
  • Market changes
  • Changes in the legislation
  • Changes in the senior leadership
  • Others

In this process (Exhibit 20) it is proposed the use of the Analytical Hierarchy Process (AHP) to compare the likehood of benefits coming from the PMO in comparison with other sources of benefits (SAATY, 1980 and VARGAS, 2010).

Exhibit 20

Exhibit 20 – Determine the Influence of the PMO on Results

The output of this process is the weight of the PMO in relationship with other sources of benefits (Exhibit 21).

Exhibit 21

Exhibit 21 – Example of AHP comparing different sources of benefits with project management implementation. In this case, it is suggested that 52,2% of the benefits could be justified by the setup and operations of a PMO

RESULTS

The final group of process intends to calculate the return on investment and also analyze and discuss the final results.

The Results group is divided in the following processes

  • Calculate the Return on Investment (ROI) of the PMO
  • Analyze Final Results

Calculate the Return on Investment (ROI) of the PMO

This process compare the results obtained in the simulation and compare them with the investments related to the PMO and the percentage of results attributable to the PMO (Exhibit 22).

Exhibit 22

Exhibit 22 – Calculate the Return on Investment (ROI) of the PMO

 

The output of this process is the calculated return on investment with complementary information (Exhibit 23).

Exhibit 23

Exhibit 23 – Example of financial calculation based on the simulation results and the cost / relevance of the PMO in the results.

Analyze Final Results

After receiving the final ROI Report, working groups and the PMO sponsoring group need to meet in order to analyze and discuss the results to make the final decision (Exhibit 24).

Exhibit 24

Exhibit 24 – Analyze Final Results

Conclusions

The proposed model is a “master line” of the value calculation and can thus be customized and adapted to different scenarios. It is important to highlight also that the model is a simplification of a complex process where, in reality, there is no necessary agreement about the size of the costs and the benefits among stakeholders and several pre judgment and personal views are in place to give different direction to the process.

In order to avoid resistance and criticism during the simulation of intangible results, it is important to do this work in teams to avoid personal biases in the process.

Finally, it important to understand the challenge of determining ROI without knowing which projects are selected and the strategy that supports them. A project office that takes care of several different multi million projects is a very different effort from another project office with simple work packages to be controlled.

References

AUBRY, M., HOBBS, B., MÜLLER, R. & BLOMQUIST, T (2010). Identifying Forces Driving PMO

Changes. Project Management Journal, Vol. 41, No. 4, pp. 30-45, 2010. Newtown Square: Project Management Institute.

EIU (2009). Closing the Gap – The Link Between Project Management Excellence & Long-Term Success. London: Economist Intelligence Unit.

HUBBARD, D. (2010). How to Measure Anything: Second Edition. Hoboken: John Wiley & Sons.

IPA (2013). Research as a Foundation. Ashburn: Independent Project Analysts. Available at http://ipainstitute.com/Home/About/Research

KWAK, Y.H. & IBBS, C.W. (2000). Calculating Project Management’s Return on Investment. Newtown Square: Project Management Journal, Volume 31, Issue 2. Available at http://www.lamarheller.com/projectmgmt/calculatingpmroi.pdf

PHILIPS, J. J. & PHILIPS, P. P. (2007). Show me the Money: How to Determine the ROI in People, Projects and Programs. San Francisco: Berrett-Koehler Publishers.

PMI (2013). Pulse Report of the Profession. Newtown Square: Project Management Institute. Available at http://www.pmi.org/Knowledge-Center/Pulse.aspx

PMI (2013). The Project Management Body of Knowledge: Fifth Edition. Newtown Square: Project Management Institute.

POUNDSTONE, W (1993). Prisonerís Dillema. Flushing: Anchor Publishing Group.

PRITCHARD, C. L. (2001). Risk Management: Concepts and Guidance. 2™ Ed. Arlington: ESI International.

SAATY, T. L (1980). The Analytic Hierarchy Process. New York: McGraw-Hill International.

SAATY, T. L. (2009). Extending the Measurement of Tangibles to Intangibles. International Journal of Information Technology & Decision Making, Vol. 8, No. 1, pp. 7-27, 2009. Available at SSRN: http://ssrn.com/abstract=1483438.

STG (2013). The Chaos Manifesto. Boston: The Standish Group. Available at https://secure.standishgroup.com/reports/reports.php

UK CABINET OFFICE (2011). Managing Successful Programmes: Forth Edition. London: The Stationery Office.

VARGAS, R (2004). Earned Value Probabilistic Forecasting Using Monte Carlo Simulation. Washington: AACE – Association for Advancement of Cost Engineering 48th Annual Meeting.

VARGAS, R. V. (2010). Using Analytical Hierarchy Process to Select and Prioritize Projects in Portfolio Management. Dallas: PMI Global Congress North America. Available at http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/

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Directly from PMI Global Congress 2013 North America in New Orleans http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2013-north-america-in-new-orleans/ http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2013-north-america-in-new-orleans/#comments Mon, 28 Oct 2013 04:58:09 +0000 http://www.ricardo-vargas.com/?p=5420 http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2013-north-america-in-new-orleans/feed/ 1 5:19 In this podcast, Ricardo talks about the PMI Global Congress 2013 which took place in New Orleans, Louisiana, USA. He makes a brief summary of his perceptions of the key topics of the event, such as, how the project manager can practice and improve his, or her, leadership and influence skills. Ricardo also talks about the importance of participating in the PMI Global Congress, especially for the great opportunities for learning and networking. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Adopting the Quadratic Mean Process to Quantify the Qualitative Risk Analysis http://www.ricardo-vargas.com/articles/quadratic-mean-process-on-risk-analysis/ http://www.ricardo-vargas.com/articles/quadratic-mean-process-on-risk-analysis/#comments Sun, 27 Oct 2013 07:51:55 +0000 http://www.ricardo-vargas.com/?p=5387 Publication

PMI Global Congress 2013 – North America
New Orleans – Louisiana – USA – 2013

SUMMARY

The objective of this paper is to propose a mathematical process to turn the results of a qualitative risk analysis into numeric indicators to support better decisions regarding risk response strategies.

Using a five-level scale for probability and a set of scales to measure different aspects of the impact and time horizon, a simple mathematical process is developed using the quadratic mean (also known as root mean square) to calculate the numerical exposition of the risk and consequently, the numerical exposition of the project risks.

This paper also supports the reduction of intuitive thinking when evaluating risks, often subject to illusions, which can cause perception errors. These predictable mental errors, such as overconfidence, confirmation traps, optimism bias, zero-risk bias, sunk-cost effect, and others often lead to the underestimation of costs and effort, poor resource planning, and other low-quality decisions (VIRINE, 2010).

QUALITATIVE X QUANTITATIVE RISK ANALYSYS

One of the main challenges during the analysis of a risk is to define the right approach to assess the amount of the exposure/opportunity. The two basic steps to determine the right level of risk are based on the qualitative and quantitative analysis (Exhibit 1).

Exhibit 1

Exhibit 1 - Analysis of Risk Process Flow (ROSSI, 2007).

A qualitative risk analysis prioritizes the identified project risks using a pre-defined scale. Risks will be scored based on their probability or likelihood of occurrence and the impact on project objectives if they occur (Exhibit 2 and 3).

Exhibit 2

Exhibit 2 - Example of scales used in the qualitative risk analysis

Exhibit 3

Exhibit 3 - Example of Qualitative Risk Matrix with 3 x 3 Levels (ALTENBACH, 1995)

A quantitative risk analysis is based on simulation models and probabilistic analysis, where the possible outcomes for the project are evaluated, providing a quantitative, numeric and many times financial risk exposure to support decisions when there is uncertainty (PMI, 2013). Some quantitative processes are simple and direct like rolling a dice (Exhibit 4), but most of them involve very complex simulation scenarios like the Monte Carlo Simulation.

Exhibit 4

Exhibit 4 - Diagram showing the deterministic probability of rolling a dice

“Monte Carlo” was a nickname of a top-secret project related to the drawing and to the project of atomic weapons developed by the mathematician John von Neumann (POUNDSTONE, 1993 and VARGAS, 2013). He discovered that a simple model of random samples could solve certain mathematical problems, which couldn’t be solved up to that moment.

The simulation refers, however, to a method by which the distribution of possible results is produced from successive recalculations of project data, allowing the development of multiple scenarios. In each one of the calculations, new random data is used to represent a repetitive and iterative process. The combination of all these results creates a probabilistic distribution of the results (Exhibit 5 and 6).

Exhibit 5

Exhibit 5 - Construction of model of distribution of costs and activities or work packages making up a final distribution from random data of the project (PRITCHARD, 2001).

Exhibit 6

Exhibit 6 - Example of Monte Carlo simulation to assess the cost impact of a potential threat to the project

Because quantitative analysis is based on mathematics and statistics supported by objective metrics, such analyses are considered to be more rigorous (SMOCK, 2002). The main challenges of a solid quantitative analysis are the time and effort it requires to be executed and the required technical background in statistics to make the proper parameterization of the data. The main advantages and disadvantages of each method are presented in the Exhibit 7.

Exhibit 7

Exhibit 7 - Example of Monte Carlo simulation to assess the cost impact of a potential threat to the project (based on ROT, 2008)

The risk model proposed hereafter is a qualitative process with numerical results, reducing the ambiguity of the qualitative process without adds the time and effort to determine with precision the probability and the impact of uncertain events in the project.

ASSESSING PROBABILITY

The proposed qualitative probability assessment is based on a scale with their respective scores (Exhibit 8).

Exhibit 8

Exhibit 8 - 5 Scales to assess the risk probability

For each identified risk a score from 1 (one) to 5 (five) should be determined.

5 DIMENSIONS OF THE IMPACT

The impact of the event, in case it occurs, can be perceived in different dimensions of the project objectives. For example, one risk can have a major impact on costs but not necessarily an important impact in quality. It is very important to highlight that threats and opportunities should be analyzed separately.

The basic groups where impact should be evaluated are (Exhibit 9):

  • impact on time and deadlines
  • impact on costs
  • impact on quality
  • impact in safety and security
  • other impacts

Exhibit 9

Exhibit 9 - Basic impact groups showing the different impact dimensions of one specific risk

Each project may develop different impact groups based on the nature of the project, including groups like: impact on reputation, regulatory impact, environmental impact, social impact, and stakeholder’s impact, among several others. Following is the presentation of the 5 basic groups.

Impact on Time and Deadlines

One should assess the level of impact on the conclusion of the project. It can be positive or negative for opportunities and threats, respectively. Threats that impact the conclusion of the project must be considered as a priority if compared to other events.

Because each project differs in size, complexity and several other factors, the project team needs to agree on the level of tolerance that they consider appropriate for each level of impact, like the example shown in Exhibit 10.

Exhibit 10

Exhibit 10 - Example of impact scale and score for time and deadlines

Impact on Costs

One should also assess the level of impact that the event may bring to the total project cost. It can be positive (savings) or negative (additional expenditures) for opportunities and threats, respectively.

Like mentioned for time and deadlines, the project team needs to agree on the level of tolerance that they consider appropriate for each level of impact, like in the example for costs presented in the Exhibit 11.

Exhibit 11

Exhibit 11 - Example of impact scale and score for costs

Impact on Quality

Assesses the level of impact on the quality required for the project. It can be positive or negative for opportunities and threats, respectively.

As presented in the other groups, the project team needs to agree on the level of tolerance that they consider appropriate for each level of impact like in the example in Exhibit 12 for negative risk events.

Exhibit 12

Exhibit 12 - Example of impact scale and score for quality (only negative events)

Impact in Safety and Security

Assesses the level of impact that the event can incur in safety at work and security. This impact group could include or not aspects related to environment, physical security of the work in the project, data security (IT), and reputation, among others.

In the Exhibit 13, an example of scale is presented to assess impacts in safety and security.

Exhibit 13

Exhibit 13 - Example of impact scale and score for safety and security, with focus in environment and reputation

Other impacts

This group is an optional group and aims to include any other specific impact of a risk that was not covered in the previous groups. It is important that the score of the other impacts, if it exists, should be from 1 to 5 like the other impact groups.

PROXIMITY: THE 6th IMPACT DIMENSION

Another dimension of the impact is the time horizon or proximity of the event (Exhibit 14). An event that may happen in hours requires different actions than another event that could impact the project in 2 years. If an event is close to happen, it has a higher priority if compared with future events (in the proximity aspect).

Exhibit 14

Exhibit 14 - Understanding the time horizon

The proximity scale should be compatible with the other impact groups (1 to 5 score for different time horizons). It is important that the project team defines what are immediate events, short-term events, medium-term events, long-term events and very long-term events (Exhibit 15).

It is important to highlight that immediate events will score higher than very long-term events when assessing their proximity.

Exhibit 15

Exhibit 15 - Example of proximity scale and score

CALCULATING THE EXPECTED VALUE AND FINAL RISK ASSESSMENT

The expected value is a risk measurement used to assess and prioritize risk events (Exhibit 16).

Exhibit 16

(Exhibit 16)

Using the qualitative method, the probability will range from 1 to 5 (Exhibit 8).

The impact is based on the impact in different aspects of the project and the proximity using a quadratic mean (root square mean) calculation (Exhibit 17).

Exhibit 17

(Exhibit 17)

The decision for the quadratic mean instead of the arithmetic mean is based on the concept that different levels of impact add additional exposure to the project and this variance should be considered as a risk factor to the project.

The relationship between the quadratic mean and the arithmetic mean is

Exhibit 18

(Exhibit 18)

where the variance is a measure of how far a set of numbers is spread out

The variance concept is directly related to the dispersion of the different impact groups. If the impact ranges are very wide, the variance will also be high and the difference between the proposed quadratic mean and the traditional arithmetic mean will increase, increasing the risk impact.

One example of the impact results is presented in the Exhibit 19.

Exhibit 19-1
Exhibit 19-2

(Exhibit 19)

It is important to highlight that the threats and opportunities can be calculated using the same formula, but with different signals (+ for opportunities and – for threats). The total qualitative risk exposure of the project is determined by the sum of the expected values of all threats and opportunities. An example of this process is presented on the Exhibit 20.

Exhibit 20

Exhibit 20 - Example of a project expected risk value considering opportunities and threats.

The results from the process will be always a number between 1 and 25. In the example of Exhibit 20, the value -5,10 is equivalent to 20,4% negative exposure (5,10/25) for the Project.

Based on this result and the tolerance thresholds (HILSON & MURRAY-WEBSTER, 2007), the total exposure can be compared with other projects and the corporate limits to define potential risk response plans.

CONCLUSIONS

The qualitative risk method is always a simplified model if compared with the quantitative methods. The approach of this paper suggests an alternative model that can be tailored to include different kinds of impacts and scales in order to produce a reliable quantitative result.

This result allows opportunities and threats to be compared in order to determine the total risk exposure. The concept that an opportunity can cancel a threat of the same level is not possible with the traditional qualitative risk management approach.

REFERENCES

ALTENBACH, T. J. (1995). A Comparison of Risk Assessment Techniques from Qualitative to Quantitative. Honolulu, ASME Preassure Vessels and Piping Conference. Available at http://www.osti.gov/bridge/servlets/purl/67753-dsZ0vB/webviewable/67753.pdf

HILSON, D. & MURRAY-WEBSTER, R. (2007). Understanding and Managing Risk Attitude. London: Gower Publishing.

PMI (2013). The Project Management Body of Knowledge: Fifth Edition. Newtown Square: Project Management Institute.

POUNDSTONE, W (1993). Prisoner’s Dillema. Flushing: Anchor Publishing Group.

PRITCHARD, C. L. (2001). Risk Management: Concepts and Guidance. 2™ Ed. Arlington: ESI International.

ROSSI, P. (2007). How to link the qualitative and the quantitative risk assessment. Budapest: Project Management Institute Global Congress EMEA.

ROT, A. (2008). IT Risk Assessment: Quantitative and Qualitative Approach. San Francisco: World Congress on Engineering and Computer Science.

SMOCK, R. (2002). Reducing Subjectivity in Qualitative Risk Assessments. Bethesda, SANS Institute. Available at http://www.giac.org/paper/gsec/2014/reducing-subjectivity-qualitative-risk-assessments/103489

VARGAS, R. V. (2013). Determining the Mathematical ROI of a Project Management Implementation. New Orleans, Project Management Institute Global Congress North America.

VIRINE, L. (2010).  Project Risk Analysis: How Ignoring It Will Lead to Project Failures. Washington: Project Management Institute Global Congress North America.

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Understanding that Processes and Projects are not the same thing http://www.ricardo-vargas.com/podcasts/understanding-that-processes-and-projects-are-not-the-same-thing/ http://www.ricardo-vargas.com/podcasts/understanding-that-processes-and-projects-are-not-the-same-thing/#comments Mon, 21 Oct 2013 13:40:21 +0000 http://www.ricardo-vargas.com/?p=5379 http://www.ricardo-vargas.com/podcasts/understanding-that-processes-and-projects-are-not-the-same-thing/feed/ 5 5:30 In this podcast, Ricardo talks about the differences between processes and projects. There is still much confusion in people's minds about the characteristics and purposes of one or the other. Ricardo seeks to remedy this confusion by bringing a few examples that illustrate each case. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 3 Factors that make an Information Technology Project different from the other Projects http://www.ricardo-vargas.com/podcasts/3-factors-that-make-an-information-technology-project-different-from-the-other-projects/ http://www.ricardo-vargas.com/podcasts/3-factors-that-make-an-information-technology-project-different-from-the-other-projects/#comments Mon, 14 Oct 2013 03:24:34 +0000 http://www.ricardo-vargas.com/?p=5362 http://www.ricardo-vargas.com/podcasts/3-factors-that-make-an-information-technology-project-different-from-the-other-projects/feed/ 2 6:52 In this podcast, Ricardo about the main differences in management technology projects as compared to other projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Ego, Vanity and Jealousy: The Project Manager’s Drama http://www.ricardo-vargas.com/podcasts/ego-vanity-and-jealousy-the-project-managers-drama/ http://www.ricardo-vargas.com/podcasts/ego-vanity-and-jealousy-the-project-managers-drama/#comments Mon, 07 Oct 2013 19:34:22 +0000 http://www.ricardo-vargas.com/?p=5358 http://www.ricardo-vargas.com/podcasts/ego-vanity-and-jealousy-the-project-managers-drama/feed/ 6 6:55 In this podcast, Ricardo talks about ego, vanity and jealousy in the project environment. He gives tips on how we can deal with these personal characteristics that may directly or indirectly affect the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Inside Triple-E: The World’s Largest Ship http://www.ricardo-vargas.com/podcasts/inside-triple-e-worlds-largest-ship/ http://www.ricardo-vargas.com/podcasts/inside-triple-e-worlds-largest-ship/#comments Mon, 30 Sep 2013 15:49:51 +0000 http://www.ricardo-vargas.com/?p=5344 http://www.ricardo-vargas.com/podcasts/inside-triple-e-worlds-largest-ship/feed/ 0 5:48 In this podcast, Ricardo talks about his visit to the world's largest ship, the Danish Triple-E, which was anchored in the Copenhagen harbor this month. The ship was manufactured in South Korea and has several technological solutions of a sustainable design. The "E" stands for "Economic of Scale", "Energy Efficiency" and "Environmental Performance". Learn more about the ship at www.worldslargestship.com Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The saving of the Costa Concordia http://www.ricardo-vargas.com/podcasts/the-saving-of-the-costa-concordia/ http://www.ricardo-vargas.com/podcasts/the-saving-of-the-costa-concordia/#comments Tue, 24 Sep 2013 00:00:47 +0000 http://www.ricardo-vargas.com/?p=5328 http://www.ricardo-vargas.com/podcasts/the-saving-of-the-costa-concordia/feed/ 2 7:11 In this podcast, Ricardo talks, from the project management perspective, about the impressive salvage operation of the Italian liner Costa Concordia which crashed into rocks and sank on January 13, 2012. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the Project Closeout http://www.ricardo-vargas.com/podcasts/understanding-the-project-closeout/ http://www.ricardo-vargas.com/podcasts/understanding-the-project-closeout/#comments Tue, 17 Sep 2013 02:07:24 +0000 http://www.ricardo-vargas.com/?p=5321 http://www.ricardo-vargas.com/podcasts/understanding-the-project-closeout/feed/ 5 5:14 In this podcast, Ricardo talks about the process of project closure. He explains the various reasons why it is important to make the closing correctly and lists the documents required for this phase of the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Workaround: The 2 Sides of the Same Coin http://www.ricardo-vargas.com/podcasts/workaround-the-2-sides-of-the-same-coin/ http://www.ricardo-vargas.com/podcasts/workaround-the-2-sides-of-the-same-coin/#comments Mon, 05 Aug 2013 19:21:39 +0000 http://www.ricardo-vargas.com/?p=5315 http://www.ricardo-vargas.com/podcasts/workaround-the-2-sides-of-the-same-coin/feed/ 2 3:54 In this podcast, Ricardo throws the question: is improvisation during a project always something negative? He cites scenarios where improvisation can be good and how we can take advantage of that. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The New Features of Microsoft Project 2013 http://www.ricardo-vargas.com/podcasts/the-new-features-of-microsoft-project-2013/ http://www.ricardo-vargas.com/podcasts/the-new-features-of-microsoft-project-2013/#comments Mon, 29 Jul 2013 11:30:56 +0000 http://www.ricardo-vargas.com/?p=5301 http://www.ricardo-vargas.com/podcasts/the-new-features-of-microsoft-project-2013/feed/ 0 5:51 In this podcast, Ricardo talks about the release of his new book, "Microsoft Project 2013: Standard, Professional e Pro para Office 365", co-written with Allan Rocha, Microsoft Valuable Professional (MVP). The book addresses the new features presented in this new version of the software and maintains the characteristics of the series of books about Project initiated by Ricardo in the book "Gerenciamento de Projetos com o Microsoft Project 98". Ricardo also talks about another novelty, the "Pangea PM" application, created by the authors, which integrates with Project 2013 and brings many learning benefits. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Superman, Darth Vader or Poor Man? Who is Really the Project Manager? http://www.ricardo-vargas.com/podcasts/superman-darth-vader-or-poor-man-who-is-really-the-project-manager/ http://www.ricardo-vargas.com/podcasts/superman-darth-vader-or-poor-man-who-is-really-the-project-manager/#comments Mon, 22 Jul 2013 03:11:54 +0000 http://www.ricardo-vargas.com/?p=5293 http://www.ricardo-vargas.com/podcasts/superman-darth-vader-or-poor-man-who-is-really-the-project-manager/feed/ 3 4:29 In this podcast, Ricardo gives his opinion about a topic discussed on social networks all the time: who is the project manager? Ricardo addresses three possibilities, would the project manager be a superman, an evil being or a poor man? Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the Rolling Wave Planning http://www.ricardo-vargas.com/podcasts/understanding-the-rolling-wave-planning/ http://www.ricardo-vargas.com/podcasts/understanding-the-rolling-wave-planning/#comments Mon, 15 Jul 2013 22:04:42 +0000 http://www.ricardo-vargas.com/?p=5288 http://www.ricardo-vargas.com/podcasts/understanding-the-rolling-wave-planning/feed/ 3 6:09 In this podcast, Ricardo talks about the concept of Rolling Wave Planning, which deals with the progressive elaboration of the project scope. He presents the pros and cons of this technique, giving answers to questions such as: "How do I get the detail work that will happen in the 2nd week of the 14th month in my project?" Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why is so complex to be Simple and Effective during the Project Selection? http://www.ricardo-vargas.com/podcasts/why-is-so-complex-to-be-simple-and-effective-during-the-project-selection/ http://www.ricardo-vargas.com/podcasts/why-is-so-complex-to-be-simple-and-effective-during-the-project-selection/#comments Mon, 08 Jul 2013 21:18:16 +0000 http://www.ricardo-vargas.com/?p=5278 http://www.ricardo-vargas.com/podcasts/why-is-so-complex-to-be-simple-and-effective-during-the-project-selection/feed/ 4 5:20 In this podcast, in the traditional time of the year where companies are planning their projects for the next year, or years, Ricardo talks about the three factors that complicate the way that we should approach the process of selecting projects in a portfolio. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Directly from the PMI EF Disaster Recovery Workshop in Alexandria – USA http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-ef-disaster-recovery-workshop-in-alexandria-usa/ http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-ef-disaster-recovery-workshop-in-alexandria-usa/#comments Mon, 01 Jul 2013 19:32:24 +0000 http://www.ricardo-vargas.com/?p=5268 http://www.ricardo-vargas.com/podcasts/directly-from-the-pmi-ef-disaster-recovery-workshop-in-alexandria-usa/feed/ 2 6:40 In this podcast, Ricardo talks directly from Alexandria, USA, about the PMI Educational Foundation Disaster Recovery Workshop. The workshop brought together experts from around the world to discuss the application of project management in disaster and reconstructions events. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No How to do Stakeholder Analysis in Practice – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-2-of-2/#comments Mon, 24 Jun 2013 16:03:11 +0000 http://www.ricardo-vargas.com/?p=5222 If you have not heard the first part, listen to it here: http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-1-of-2 / ]]> http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-2-of-2/feed/ 3 7:40 In this podcast, Ricardo ends the explanation of how to do the Stakeholder Analysis in practice. If you have not heard the first part, listen to it here: http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-1-of-2 / Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No How to do Stakeholder Analysis in Practice – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-1-of-2/#comments Mon, 17 Jun 2013 13:34:41 +0000 http://www.ricardo-vargas.com/?p=5209 http://www.ricardo-vargas.com/podcasts/how-to-do-stakeholder-analysis-in-practice-part-1-of-2/feed/ 0 8:03 In this special podcast, Ricardo teaches, in practice, how to do a Stakeholder Analysis. To follow the step-by-step shown by Ricardo, you will need this material: 3 large sheets of paper (i.e. flip chart size), tape, several post-it's and pens (or markers), two to three different colors for pens and post-it's. And of course, your team to participate in the brainstorming. Follow next week the final part of this podcast! Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 3 Success Factors in the Procurement Process http://www.ricardo-vargas.com/podcasts/3-success-factors-in-the-procurement-process/ http://www.ricardo-vargas.com/podcasts/3-success-factors-in-the-procurement-process/#comments Mon, 10 Jun 2013 16:18:36 +0000 http://www.ricardo-vargas.com/?p=5203 1 – Seek knowledge about what will be purchased;
2 – Analyze the total cost of acquisition, not just the price;
3 – Associate payment events to deliveries on your project.]]>
http://www.ricardo-vargas.com/podcasts/3-success-factors-in-the-procurement-process/feed/ 5 5:39 In this podcast, Ricardo talks about the dangers of underestimate the complexity of the procurement management. He gives three tips on how we can increase the chance of success in our projects. They are: 1 - Seek knowledge about what will be purchased; 2 - Analyze the total cost of acquisition, not just the price; 3 - Associate payment events to deliveries on your project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Understanding the Risk Attitude http://www.ricardo-vargas.com/podcasts/understanding-the-risk-attitude/ http://www.ricardo-vargas.com/podcasts/understanding-the-risk-attitude/#comments Mon, 03 Jun 2013 15:13:27 +0000 http://www.ricardo-vargas.com/?p=5196 http://www.ricardo-vargas.com/podcasts/understanding-the-risk-attitude/feed/ 0 5:01 In this podcast, Ricardo talks about people's different attitudes and profiles against the risks. He explains these attitudes and profiles by analyzing a chart in the book "Understanding And Managing Risk Attitude", by David Hillson. See Ricardo's brief review of the book here: http://www.ricardo-vargas.com/books/recommendations/75/ View the chart discussed in the podcast: http://www.risk-attitude.com/spectrum.html Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Do not think that the software is your Project Manager http://www.ricardo-vargas.com/podcasts/do-not-think-that-the-software-is-your-project-manager/ http://www.ricardo-vargas.com/podcasts/do-not-think-that-the-software-is-your-project-manager/#comments Mon, 27 May 2013 23:34:37 +0000 http://www.ricardo-vargas.com/?p=5187 http://www.ricardo-vargas.com/podcasts/do-not-think-that-the-software-is-your-project-manager/feed/ 2 3:53 In this podcast, Ricardo is incisive on commenting the relevance and importance of the correct use of project management software. He makes it clear that the fundamentals of project management can not be forgotten because they are much more important than the mastery of any existing software. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why are we so afraid of failure? http://www.ricardo-vargas.com/podcasts/why-are-we-so-afraid-of-failure/ http://www.ricardo-vargas.com/podcasts/why-are-we-so-afraid-of-failure/#comments Mon, 20 May 2013 14:10:32 +0000 http://www.ricardo-vargas.com/?p=5172 http://www.ricardo-vargas.com/podcasts/why-are-we-so-afraid-of-failure/feed/ 6 6:37 In this podcast, Ricardo proposes to us a reflection: why, in both our professional and personal lives, the fear of failure bothers us so much? He says that many societies value the success and penalize failure at the same intensity, and leaves the question: does this logic is the best one? Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why is it So Hard to Define Clear Criteria for Selecting Projects? http://www.ricardo-vargas.com/podcasts/criteria-for-selecting-projects/ http://www.ricardo-vargas.com/podcasts/criteria-for-selecting-projects/#comments Mon, 13 May 2013 19:59:52 +0000 http://www.ricardo-vargas.com/?p=5164 http://www.ricardo-vargas.com/podcasts/criteria-for-selecting-projects/feed/ 2 5:27 In this podcast, Ricardo lists the three main reasons why it is so difficult to establish criteria for selecting projects in a Portfolio Management. They are: the lack of clarity in the strategic objectives, the difficulty in measuring intangibles and the management of possible conflicts created by individual interests. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why it is worth using the 3-point estimates to determine the project duration? http://www.ricardo-vargas.com/podcasts/why-its-worth-using-the-3-point-estimates/ http://www.ricardo-vargas.com/podcasts/why-its-worth-using-the-3-point-estimates/#comments Tue, 07 May 2013 01:54:36 +0000 http://www.ricardo-vargas.com/?p=5148 http://www.ricardo-vargas.com/podcasts/why-its-worth-using-the-3-point-estimates/feed/ 2 5:59 In this podcast, Ricardo talks about the advantage of making three-point estimates. He gives tips on how we can obtain more effectively estimates from team members and how we can quickly get important information about the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The new Scope, Time and Cost Planning Processes of the PMBOK® Guide 5th Edition http://www.ricardo-vargas.com/podcasts/the-new-scope-time-and-cost-planning-processes-of-the-pmbok-guide-5th-edition/ http://www.ricardo-vargas.com/podcasts/the-new-scope-time-and-cost-planning-processes-of-the-pmbok-guide-5th-edition/#comments Mon, 29 Apr 2013 23:27:33 +0000 http://www.ricardo-vargas.com/?p=5139 http://www.ricardo-vargas.com/podcasts/the-new-scope-time-and-cost-planning-processes-of-the-pmbok-guide-5th-edition/feed/ 2 5:16 In this podcast, Ricardo concludes the series of five podcasts on the PMBOK® Guide 5th Edition. He talks about the reasons behind the creation of processes "5.1", "6.1" and "7.1", Plan Scope Management, Plan Schedule Management and Plan Cost Management, respectively. He comments on how best to use these processes, taking into account the project complexity. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Stakeholder Management – PMBOK 5th Edition – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-2-of-2/#comments Mon, 22 Apr 2013 23:39:58 +0000 http://1237066817 http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-2-of-2/feed/ 3 5:52 In this podcast, Ricardo continues to talk about the chapter 13 of the PMBOK® 5th Edition, Stakeholder Management. In this second podcast, Ricardo explains how to execute and control the Stakeholder Management Plan. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Stakeholder Management – PMBOK 5th Edition – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-1-of-2/#comments Mon, 15 Apr 2013 23:35:04 +0000 http://www.ricardo-vargas.com/?p=5117 http://www.ricardo-vargas.com/podcasts/stakeholder-mgmt-pmbok-5ed-part-1-of-2/feed/ 3 6:43 In this podcast, Ricardo talks about the chapter 13 of the PMBOK® 5th Edition, Stakeholder Management. Ricardo comments on the characteristics of the four processes that have been grouped together in this new knowledge area. In the next podcast, Ricardo continues to talk about how to execute and control the Stakeholder Management Plan. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Main Differences between the 4th and the 5th Edition of the PMBOK® Guide http://www.ricardo-vargas.com/podcasts/main-differences-between-the-4th-and-the-5th-edition-of-the-pmbok-guide/ http://www.ricardo-vargas.com/podcasts/main-differences-between-the-4th-and-the-5th-edition-of-the-pmbok-guide/#comments Mon, 08 Apr 2013 21:44:14 +0000 http://www.ricardo-vargas.com/?p=5104 http://www.ricardo-vargas.com/podcasts/main-differences-between-the-4th-and-the-5th-edition-of-the-pmbok-guide/feed/ 2 7:20 In this podcast, Ricardo talks about the main differences between the fourth and the fifth edition of the PMBOK ® Guide. He introduces the 10th knowledge area, Stakeholders, created for the fifth edition, and comments on the news in every other knowledge area, that together have a total of 47 processes, three more than in the fourth edition of the Guide. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The New PMBOK® Guide 5th Edition http://www.ricardo-vargas.com/podcasts/the-new-pmbok-guide-5th-edition/ http://www.ricardo-vargas.com/podcasts/the-new-pmbok-guide-5th-edition/#comments Mon, 01 Apr 2013 21:33:08 +0000 http://www.ricardo-vargas.com/?p=5095 http://www.ricardo-vargas.com/podcasts/the-new-pmbok-guide-5th-edition/feed/ 6 6:03 In this podcast, Ricardo talks about the fifth edition of the PMBOK® Guide, which is the most popular reference on project management. Ricardo comments on the new features of this new version of the standard and presents his new video, showing the development of the new processes flow, that you can download on the site. There is also to download a canvas that you can use to repeat the process shown in the video and make the processes flow at home, at work or in your classroom for a better understanding of the Guide. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Handling Similar Projects http://www.ricardo-vargas.com/podcasts/handling-similar-projects/ http://www.ricardo-vargas.com/podcasts/handling-similar-projects/#comments Mon, 25 Mar 2013 20:07:21 +0000 http://www.ricardo-vargas.com/?p=5064 http://www.ricardo-vargas.com/podcasts/handling-similar-projects/feed/ 3 4:12 In this podcast, Ricardo talks about how to manage similar projects with many features in common. He suggests the creation of information components and templates, like Lego bricks, which together will speed up the process of producing, for instance, of the scope and project budget documents, according to customer request. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Software Development Projects: Are There Too Many Tribal Chiefs to Few Indians? http://www.ricardo-vargas.com/podcasts/too-many-tribal-chefs/ http://www.ricardo-vargas.com/podcasts/too-many-tribal-chefs/#comments Mon, 18 Mar 2013 17:11:48 +0000 http://www.ricardo-vargas.com/?p=5041 http://www.ricardo-vargas.com/podcasts/too-many-tribal-chefs/feed/ 11 4:25 In this podcast, Ricardo comments an article that criticizes the current model of project management in software development companies. The article says that several companies are allocating more project managers than developers in their teams, generating lack of effectiveness among other problems. Link for the cited article (Brazilian Portuguese): http://rvarg.as/5l Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the GTD: Weekly Review, Softwares and Tips – Part 3 of 3 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-3-of-3/ http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-3-of-3/#comments Mon, 11 Mar 2013 04:05:51 +0000 http://www.ricardo-vargas.com/?p=5026 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-3-of-3/feed/ 3 8:35 In this last episode of the series of three podcasts about GTD - Getting Things Done, Ricardo talks about his process of reviewing and planning the week. Including on his tips, some softwares that may help you. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the GTD: Processing, Projects / Contexts and Execution – Part 2 of 3 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-2-of-3/ http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-2-of-3/#comments Mon, 04 Mar 2013 09:29:22 +0000 http://www.ricardo-vargas.com/?p=5007 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-2-of-3/feed/ 2 5:16 In this podcast, Ricardo presents the second episode of the series of three podcasts on Getting Things Done (GTD). He explains what we do with the ideas, appointments etc. that we collect daily. He gives tips on how to organize tasks into projects and contexts and explains each. Listen to the first episode: http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-1-of-3/ Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No (Português) Como faço para me cadastrar na Área do Leitor? http://www.ricardo-vargas.com/faq/como-cadastrar-area-leitor/ http://www.ricardo-vargas.com/faq/como-cadastrar-area-leitor/#comments Fri, 01 Mar 2013 01:37:21 +0000 http://www.ricardo-vargas.com/?p=4998 Sorry, this entry is only available in Português.

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How can I download all Podcasts http://www.ricardo-vargas.com/faq/how-can-i-download-all-podcasts/ http://www.ricardo-vargas.com/faq/how-can-i-download-all-podcasts/#comments Thu, 28 Feb 2013 23:01:37 +0000 http://1962818254 To download the podcasts that are in playlists, you can go on the detail page of a playlist and download all there. See page: http://www.ricardo-vargas.com/pt/playlists/

But if you want to download all the podcasts same site, just use the iTunes program on your computer. You have it installed? If not, the Apple website you can download for free: http://www.apple.com/itunes/

With it installed, you need to subscribe to the podcast of Ricardo. The Itunes will then list the available episodes and you’ll have the chance to download all the podcasts.

To subscribe, do the following:

  1. Visit the podcast Itunes page: https://itunes.apple.com/podcast/id324698370 and subscribe.

Or

  1. Copy this link: http://www.ricardo-vargas.com/?feed=podcast
  2. Go on iTunes and in the Advanced menu, click Subscribe to Podcast (Subscribe to Podcast). Paste the link.

All set! The podcast name will appear in the sidebar of your iTunes Podcasts panel from now on and every time there is a new episode  it will be downloade automatically.

ITunes will show the title of all podcasts already published. You can then download all the episodes by clicking the “Get All” option that is next to the title “5 Minutes Project Management Podcast”. ITunes will download one by one, all the podcasts to your computer.

Note: If iTunes does not automatically download a list of all episodes, starting with the episode “Challenge Projects”, of 01.13.2007, do the following: click the right button over the title of the podcast (the 5 Minutes Project Management Podcast) and choose “Show all available episodes” (“Show all available episodes”, in English).

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Understanding the GTD: Introduction, Collection and Processing – Part 1 of 3 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-1-of-3/ http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-1-of-3/#comments Mon, 25 Feb 2013 12:22:37 +0000 http://www.ricardo-vargas.com/?p=4968 http://www.ricardo-vargas.com/podcasts/understanding-the-gtd-part-1-of-3/feed/ 7 6:59 In this podcast, Ricardo starts the series of 3 podcasts about the time management method called Getting Things Done, created by David Allen. In this first episode, Ricardo explains what is GTD and comments on how he uses it to organize and get all his work done. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Importance of Proactivity in Negotiations http://www.ricardo-vargas.com/podcasts/importance-of-proactivity-in-negotiations/ http://www.ricardo-vargas.com/podcasts/importance-of-proactivity-in-negotiations/#comments Mon, 18 Feb 2013 23:21:08 +0000 http://www.ricardo-vargas.com/?p=4954 http://www.ricardo-vargas.com/podcasts/importance-of-proactivity-in-negotiations/feed/ 2 4:43 In this podcast, Ricardo explains the importance of understanding the difference between passive and proactive behavior in negotiations. He cites the books "Getting Past No" and "Getting To Yes" by William Ury. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Career Transition in Project Management http://www.ricardo-vargas.com/podcasts/career-transition-in-project-management/ http://www.ricardo-vargas.com/podcasts/career-transition-in-project-management/#comments Mon, 11 Feb 2013 15:02:23 +0000 http://www.ricardo-vargas.com/?p=4949 http://www.ricardo-vargas.com/podcasts/career-transition-in-project-management/feed/ 8 7:42 In this podcast, Ricardo gives tips for those who are wanting to change careers toward Project Management. He talks a bit about his own career and shows how we must be willing to break new ground, expanding our career options. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Power of Truth in Project Management http://www.ricardo-vargas.com/podcasts/the-power-of-truth-in-project-management/ http://www.ricardo-vargas.com/podcasts/the-power-of-truth-in-project-management/#comments Tue, 05 Feb 2013 00:48:51 +0000 http://www.ricardo-vargas.com/?p=4944 http://www.ricardo-vargas.com/podcasts/the-power-of-truth-in-project-management/feed/ 8 4:24 In this podcast, Ricardo talks about the power of truth. He stresses that the project manager should speak the truth even if the project status is critical. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No There are something to be learned with the Tragedy in Santa Maria http://www.ricardo-vargas.com/podcasts/the-tragedy-in-santa-maria/ http://www.ricardo-vargas.com/podcasts/the-tragedy-in-santa-maria/#comments Mon, 28 Jan 2013 14:32:26 +0000 http://www.ricardo-vargas.com/?p=4931 http://www.ricardo-vargas.com/podcasts/the-tragedy-in-santa-maria/feed/ 16 5:13 In this podcast, Ricardo talks about the tragedy at the nightclub Kiss in Santa Maria, Brazil. From the viewpoint of project and risk management, Ricardo raises points and makes us think, so that accidents like this never happen again. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The WBS Dictionary http://www.ricardo-vargas.com/podcasts/the-wbs-dictionary/ http://www.ricardo-vargas.com/podcasts/the-wbs-dictionary/#comments Mon, 21 Jan 2013 16:23:51 +0000 http://www.ricardo-vargas.com/?p=4926 http://www.ricardo-vargas.com/podcasts/the-wbs-dictionary/feed/ 2 3:55 In this podcast, Ricardo talks about the Work Breakdown Structure (WBS) Dictionary. He explains that this document may be called the work packages instruction manual and gives tips on how to plan well your dictionary. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the Difference Between Cost and Price http://www.ricardo-vargas.com/podcasts/understanding-the-difference-between-cost-and-price/ http://www.ricardo-vargas.com/podcasts/understanding-the-difference-between-cost-and-price/#comments Mon, 14 Jan 2013 13:07:29 +0000 http://www.ricardo-vargas.com/?p=4920 http://www.ricardo-vargas.com/podcasts/understanding-the-difference-between-cost-and-price/feed/ 2 4:12 In this podcast, Ricardo talks about the difference between cost and price. Many people are confused and Ricardo explains what's behind each one, differentiating them. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No A Different Podcast: Harry Potter Studios in London http://www.ricardo-vargas.com/podcasts/harry-potter-studios-in-london/ http://www.ricardo-vargas.com/podcasts/harry-potter-studios-in-london/#comments Mon, 07 Jan 2013 17:36:29 +0000 http://www.ricardo-vargas.com/?p=4904 In this first podcast of 2013, Ricardo comments, from the project management perspective, his surprising visit to the Harry Potter Studios in London. How a brilliant idea, through a outstanding execution, has become one of the most successful projects in the world.

See the pictures: http://rvarg.as/harrypotter

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http://www.ricardo-vargas.com/podcasts/harry-potter-studios-in-london/feed/ 3 7:33 In this first podcast of 2013, Ricardo comments, from the project management perspective, his surprising visit to the Harry Potter Studios in London. How a brilliant idea, through a outstanding execution, has become one of the most successful projects in the world. See the pictures: http://rvarg.as/harrypotter Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Perspectives 2013 http://www.ricardo-vargas.com/podcasts/perspectives-2013/ http://www.ricardo-vargas.com/podcasts/perspectives-2013/#comments Mon, 31 Dec 2012 16:41:48 +0000 http://www.ricardo-vargas.com/?p=4891 http://www.ricardo-vargas.com/podcasts/perspectives-2013/feed/ 3 8:41 In this podcast, Ricardo talks about his perspectives for 2013. He said several issues, among them: the continued instability in the external and internal scenarios, strong pressure for results measurement, increasing globalization and why is important to know new countries and their social and economic scenarios. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Retrospective 2012 http://www.ricardo-vargas.com/podcasts/retrospective-2012/ http://www.ricardo-vargas.com/podcasts/retrospective-2012/#comments Mon, 24 Dec 2012 15:54:38 +0000 http://www.ricardo-vargas.com/?p=4885 http://www.ricardo-vargas.com/podcasts/retrospective-2012/feed/ 2 5:06 In this podcast, Ricardo makes a retrospective of 2012. A year with mixed feelings. Unlike other years, where skill and expertise were highlighted, Ricardo comments on the noticeable lack of great leaders. In the next podcast, he will speak about the perspectives for 2013. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Managing Expectations http://www.ricardo-vargas.com/podcasts/managing-expectations/ http://www.ricardo-vargas.com/podcasts/managing-expectations/#comments Mon, 17 Dec 2012 05:45:34 +0000 http://www.ricardo-vargas.com/?p=4869 In this podcast, Ricardo talks about managing stakeholders’ expectations. What is the importance of properly managing expectations? What is the relationship of them with the project’s scope and risk management?

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http://www.ricardo-vargas.com/podcasts/managing-expectations/feed/ 5 4:31 In this podcast, Ricardo talks about managing stakeholders' expectations. What is the importance of properly managing expectations? What is the relationship of them with the project's scope and risk management? Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Understanding the Coaching dimensions http://www.ricardo-vargas.com/podcasts/understanding-the-coaching-dimensions/ http://www.ricardo-vargas.com/podcasts/understanding-the-coaching-dimensions/#comments Mon, 10 Dec 2012 13:03:12 +0000 http://www.ricardo-vargas.com/?p=4865 In this podcast, Ricardo shares some ideas on coaching and comments about the coaching four dimensions or stages. He starts showing that coaching should be based on building trust in relationships within and outside the organization and not in the hierarchy itself.

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http://www.ricardo-vargas.com/podcasts/understanding-the-coaching-dimensions/feed/ 6 5:28 In this podcast, Ricardo shares some ideas on coaching and comments about the coaching four dimensions or stages. He starts showing that coaching should be based on building trust in relationships within and outside the organization and not in the hierarchy itself. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Getting to know the World of Megaprojects: Communications and Teams – Part 3 of 3 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-3-of-3/ http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-3-of-3/#comments Mon, 03 Dec 2012 09:00:33 +0000 http://www.ricardo-vargas.com/?p=4860 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-3-of-3/feed/ 3 8:08 In this podcast, Ricardo concludes the series on megaprojects, talking about communication, teams and some success factors. He comments especially the importance of forming the core team of the project as soon as possible and to be careful on planning the outsourcing of some roles. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Getting to know the World of Megaprojects: The FEL Process – Part 2 of 3 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-2-of-3/ http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-2-of-3/#comments Mon, 26 Nov 2012 03:05:51 +0000 http://www.ricardo-vargas.com/?p=4852 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-2-of-3/feed/ 3 8:33 In this podcast, Ricardo continues the series of three podcasts about the world of megaprojects. In this episode, he talks more about the concept of FEL (Front End Loading) and its great importance. In the next and final episode, Ricardo talk about teams, communications and how to engage the community in megaprojects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Getting to know the World of Megaprojects: The Big Challenges – Part 1 of 3 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-1-of-3/ http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-1-of-3/#comments Mon, 19 Nov 2012 03:01:27 +0000 http://www.ricardo-vargas.com/?p=4841 http://www.ricardo-vargas.com/podcasts/the-world-of-megaprojects-part-1-of-3/feed/ 4 6:45 In this podcast, Ricardo starts a series of podcasts about the world of mega projects. What makes a project a megaproject? Ricardo talks about the characteristics, risks, and impacts of the failure or success of a megaproject. He also begins to introduce the concept of FEL (Front-end Loading), which will be discussed in the next podcasts. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the 3 Factors to improve the Project Team sizing http://www.ricardo-vargas.com/podcasts/the-3-factors-project-team-sizing/ http://www.ricardo-vargas.com/podcasts/the-3-factors-project-team-sizing/#comments Mon, 12 Nov 2012 22:48:24 +0000 http://www.ricardo-vargas.com/?p=4837 http://www.ricardo-vargas.com/podcasts/the-3-factors-project-team-sizing/feed/ 4 6:03 In this podcast, Ricardo talks about how to make a better project team sizing according to three factors: the complexity and geographic dispersion of the work to be done and the team's maturity. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Success is a Danger http://www.ricardo-vargas.com/podcasts/the-success-is-a-danger/ http://www.ricardo-vargas.com/podcasts/the-success-is-a-danger/#comments Mon, 05 Nov 2012 09:28:33 +0000 http://www.ricardo-vargas.com/?p=4831 http://www.ricardo-vargas.com/podcasts/the-success-is-a-danger/feed/ 4 5:42 In this podcast, Ricardo throws the question: When success becomes a danger? When the project starts to work too well, success can go to your head? He talks about the consequences and give insights on how to prevent this from happening. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Trying to Understand the Tragedy of Sandy Hurricane http://www.ricardo-vargas.com/podcasts/trying-to-understand-the-tragedy-of-sandy/ http://www.ricardo-vargas.com/podcasts/trying-to-understand-the-tragedy-of-sandy/#comments Mon, 29 Oct 2012 14:52:45 +0000 http://www.ricardo-vargas.com/?p=4828 http://www.ricardo-vargas.com/podcasts/trying-to-understand-the-tragedy-of-sandy/feed/ 6 7:01 In this podcast, Ricardo discusses the effects of Hurricane Sandy, that caused tremendous destruction on the east coast of the United States, from the point of view of Risk Management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Directly from the PMI Global Congress 2012 – North America in Vancouver – Canada http://www.ricardo-vargas.com/podcasts/pmi-global-congress-2012-canada/ http://www.ricardo-vargas.com/podcasts/pmi-global-congress-2012-canada/#comments Mon, 22 Oct 2012 18:05:38 +0000 http://www.ricardo-vargas.com/?p=4817 http://www.ricardo-vargas.com/podcasts/pmi-global-congress-2012-canada/feed/ 2 6:31 In this podcast, Ricardo talks about the PMI Global Congress which took place in Vancouver, Canada. He makes a brief summary of his perceptions of the key topics of the event, such as Portfolio Management, which is the new challenge of the coming years. He also points the discussions on the Role of Women in Project Management, Risk Management from the point of view of business. Finally, Ricardo talks about the importance of participating in the PMI Global Congress, especially for the great opportunities for learning and networking. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Success Factors in Project Control http://www.ricardo-vargas.com/podcasts/success-factors-in-project-control/ http://www.ricardo-vargas.com/podcasts/success-factors-in-project-control/#comments Mon, 24 Sep 2012 23:11:28 +0000 http://www.ricardo-vargas.com/?p=4807 http://www.ricardo-vargas.com/podcasts/success-factors-in-project-control/feed/ 6 6:12 In this podcast, Ricardo addresses the factors that matter when you're controlling a project. He describes the top 3 factors that every Project Manager should address to effectively control the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Project Feasibility Study x Project Plan and Execution: Understanding the Frontiers http://www.ricardo-vargas.com/podcasts/project-feasibility-study-versus-project/ http://www.ricardo-vargas.com/podcasts/project-feasibility-study-versus-project/#comments Mon, 17 Sep 2012 17:26:06 +0000 http://www.ricardo-vargas.com/?p=4796 http://www.ricardo-vargas.com/podcasts/project-feasibility-study-versus-project/feed/ 18 3:14 In this podcast, Ricardo explains that an Analysis of Feasibility of a Project should be seen as a project by itself, with all the characteristics of a project, having a Project Charter, a schedule, a WBS etc. The analysis may demonstrate that the project under study is not feasible, but that does not mean that the feasibility study was a failure. Understand the reason. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Developing your Business Model as Project Manager http://www.ricardo-vargas.com/podcasts/developing-your-business-model-as-project-manager/ http://www.ricardo-vargas.com/podcasts/developing-your-business-model-as-project-manager/#comments Tue, 11 Sep 2012 00:42:13 +0000 http://www.ricardo-vargas.com/?p=4751 http://www.ricardo-vargas.com/podcasts/developing-your-business-model-as-project-manager/feed/ 44 7:33 In this special podcast, Ricardo talks about the book "Business Model You" and the Business Model Canvas. Both inspired him to create the Project Manager's Business Model that he comments in this podcast. There is also be a special video on the site, where Ricardo gives examples of career planning for a GP. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Project Management as a Life Skill http://www.ricardo-vargas.com/podcasts/project-management-as-a-life-skill/ http://www.ricardo-vargas.com/podcasts/project-management-as-a-life-skill/#comments Mon, 03 Sep 2012 10:19:08 +0000 http://www.ricardo-vargas.com/?p=4748 http://www.ricardo-vargas.com/podcasts/project-management-as-a-life-skill/feed/ 11 5:21 In this podcast, Ricardo invites us to think in the Project Management concepts as skills for the personal and professional lifes of any person, not just project managers. Much of what is discussed in project management and many of its tools may be useful in various professions such as lawyers, teachers, writers, etc. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Project Manager as the New CEO http://www.ricardo-vargas.com/podcasts/project-manager-as-the-new-ceo/ http://www.ricardo-vargas.com/podcasts/project-manager-as-the-new-ceo/#comments Mon, 20 Aug 2012 23:54:38 +0000 http://www.ricardo-vargas.com/?p=4745 http://www.ricardo-vargas.com/podcasts/project-manager-as-the-new-ceo/feed/ 6 4:39 In this podcast, Ricardo talks about a discussion launched by PMI: The Project Manager may become the next CEO? What is the role of a CEO? Ricardo explains how the project manager could be prepared to take this position in a corporation. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Danubio Becker Borba – A Great Legacy to Project Management http://www.ricardo-vargas.com/podcasts/danubio-becker-borba-a-great-legacy-to-project-management/ http://www.ricardo-vargas.com/podcasts/danubio-becker-borba-a-great-legacy-to-project-management/#comments Mon, 13 Aug 2012 10:53:54 +0000 http://www.ricardo-vargas.com/?p=4743 http://www.ricardo-vargas.com/podcasts/danubio-becker-borba-a-great-legacy-to-project-management/feed/ 10 5:08 In this podcast, Ricardo pays homage to his friend and teacher Danúbio Becker Borba, who died recently. Prof. Danúbio was an example of a dedicated teacher and one of the volunteers founders of the chapter PMI São Paulo. He had special participation in designing the PMDome workshop and pioneered the use of the techniques of games for education in project management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Gray Area between Projects and Processes http://www.ricardo-vargas.com/podcasts/the-gray-area-between-projects-and-processes/ http://www.ricardo-vargas.com/podcasts/the-gray-area-between-projects-and-processes/#comments Mon, 06 Aug 2012 13:03:22 +0000 http://www.ricardo-vargas.com/?p=4726 http://www.ricardo-vargas.com/podcasts/the-gray-area-between-projects-and-processes/feed/ 11 7:33 In this podcast, Ricardo talks about the "gray area" where mingle conceptually projects and processes. He cites some examples to explain what distinguishes a project of a routine process. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understanding the Delphi Technique http://www.ricardo-vargas.com/podcasts/understanding-the-delphi-technique/ http://www.ricardo-vargas.com/podcasts/understanding-the-delphi-technique/#comments Mon, 30 Jul 2012 12:21:01 +0000 http://www.ricardo-vargas.com/?p=4720 http://www.ricardo-vargas.com/podcasts/understanding-the-delphi-technique/feed/ 4 6:58 In this podcast, Ricardo talks a little bit about the Delphi technique and it's use beyond project risk identification. He gives tips on how to use it correctly, and also talks about the advantages and disadvantages of this technique. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No When Much sometimes is Too Much http://www.ricardo-vargas.com/podcasts/when-much-sometimes-is-too-much/ http://www.ricardo-vargas.com/podcasts/when-much-sometimes-is-too-much/#comments Mon, 23 Jul 2012 17:28:37 +0000 http://www.ricardo-vargas.com/?p=4711 http://www.ricardo-vargas.com/podcasts/when-much-sometimes-is-too-much/feed/ 5 5:21 In this podcast, listen Ricardo's opinion on the level of detail of the project scope. How much detail we have to pursue? What is a good size for a work package? Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Using Generic Resources in the Resource Allocation http://www.ricardo-vargas.com/podcasts/using-generic-resources-in-the-resource-allocation/ http://www.ricardo-vargas.com/podcasts/using-generic-resources-in-the-resource-allocation/#comments Mon, 16 Jul 2012 15:38:36 +0000 http://www.ricardo-vargas.com/?p=4707 http://www.ricardo-vargas.com/podcasts/using-generic-resources-in-the-resource-allocation/feed/ 5 4:58 In this podcast, Ricardo talks about the challenges of resource allocation and explains a technique based on the allocation of generic skills (or positions) needed for the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Project Manager and the PMO: Understanding the Issue of the Authority http://www.ricardo-vargas.com/podcasts/project-manager-and-the-pmo-authority/ http://www.ricardo-vargas.com/podcasts/project-manager-and-the-pmo-authority/#comments Thu, 12 Jul 2012 14:33:52 +0000 http://www.ricardo-vargas.com/?p=4701 http://www.ricardo-vargas.com/podcasts/project-manager-and-the-pmo-authority/feed/ 6 5:03 In this podcast, Ricardo shares his understanding about the organization's hierarchy and the project manager. He also explains the differences between the role of the project manager and the role of the project office. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 5 Ideas to Mitigate the Scope Changes in Your Project – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-2-of-2/ http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-2-of-2/#comments Mon, 02 Jul 2012 09:00:54 +0000 http://www.ricardo-vargas.com/?p=4692 http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-2-of-2/feed/ 4 8:09 In this podcast, Ricardo continues to talk about how can we minimize scope changes in a project. He suggests another three other control measures: the formalization, the phasing of the project and the rolling wave planning. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 5 Ideas to Mitigate the Scope Changes in Your Project – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-1-of-2/ http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-1-of-2/#comments Wed, 27 Jun 2012 20:01:56 +0000 http://www.ricardo-vargas.com/?p=4680 http://www.ricardo-vargas.com/podcasts/5-ideas-to-mitigate-the-scope-changes-1-of-2/feed/ 5 6:33 In this podcast, Ricardo talks about how can we minimize scope changes in a project. He explains that we need to have a connection between the functional scope, client-oriented, and the technical scope, that is team-oriented. And that we also should make a plan as detailed as possible. Next week, listen to the continuation of this podcast, where Ricardo will suggest three other control measures: the formalization, the phasing of the project and the rolling wave planning. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Directly from the Gartner PPM & IT Governance Summit 2012 in London http://www.ricardo-vargas.com/podcasts/directly-from-the-gartner-summit-2012/ http://www.ricardo-vargas.com/podcasts/directly-from-the-gartner-summit-2012/#comments Wed, 20 Jun 2012 22:46:09 +0000 http://www.ricardo-vargas.com/?p=4659 http://www.ricardo-vargas.com/podcasts/directly-from-the-gartner-summit-2012/feed/ 3 6:01 In this podcast, Ricardo, directly from London, talks about the Gartner PPM IT Governance Summit 2012, meeting to address Portfolio Management and IT Governance. He talks about the main topics discussed at the Summit, especially the strategic value and benefits of selecting the projects aligned with the company's strategy. About the Summit - Europe's premier gathering of program and portfolio management executives charged with improving how organizations select, implement and manage IT projects and investments. More information: http://www.gartner.com/technology/summits/emea/program-management/about.jsp Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 5 Tips For Selling Project Management in your Company http://www.ricardo-vargas.com/podcasts/5-tips-for-selling-project-management-within-your-company/ http://www.ricardo-vargas.com/podcasts/5-tips-for-selling-project-management-within-your-company/#comments Mon, 11 Jun 2012 15:28:28 +0000 http://www.ricardo-vargas.com/?p=4645 http://www.ricardo-vargas.com/podcasts/5-tips-for-selling-project-management-within-your-company/feed/ 10 6:13 In this podcast, Ricardo gives us 5 tips on how to sell the idea of ​​project management to people outside the area, i.e., how we can do the right marketing for people with different perceptions of those from projects managers. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Calculating the Return on Investment of the PMO – Part 2/2 http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-2-of-2/#comments Mon, 04 Jun 2012 10:00:55 +0000 http://www.ricardo-vargas.com/?p=4609 http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-2-of-2/feed/ 1 7:09 In this podcast, Ricardo continues to talk about his study to create a mathematical model to calculate the Return on Investment (ROI) of a Project Management Office (PMO). Remember to first download the reference material, the Processes Flow and the Report, in the website's downloads area. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No O Gerenciamento Ambiental do Projeto http://www.ricardo-vargas.com/articles/gerenciamento-ambiental/ http://www.ricardo-vargas.com/articles/gerenciamento-ambiental/#comments Sun, 03 Jun 2012 13:00:21 +0000 http://www.ricardo-vargas.com/?p=4589 Sorry, this entry is only available in Português.

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Calculating the Return on Investment of the PMO – Part 1/2 http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-1-of-2/#comments Mon, 28 May 2012 10:00:01 +0000 http://www.ricardo-vargas.com/?p=4602 http://www.ricardo-vargas.com/podcasts/calculating-the-return-on-investment-of-the-pmo-part-1-of-2/feed/ 2 6:53 In this podcast, Ricardo talks about his study to create a mathematical model to calculate the Return on Investment (ROI) of a Project Management Office (PMO). How to calculate the result of all projects, even those from areas like Human Resources and Marketing? Ricardo explains how it can be done. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No The Four Stages of Learning and Their Applicability in the Understanding of Projects http://www.ricardo-vargas.com/podcasts/the-four-stages-of-learning/ http://www.ricardo-vargas.com/podcasts/the-four-stages-of-learning/#comments Mon, 21 May 2012 10:00:28 +0000 http://www.ricardo-vargas.com/?p=4551 http://www.ricardo-vargas.com/podcasts/the-four-stages-of-learning/feed/ 8 5:45 In this podcast, Ricardo talks about learning techniques and their applicability in the understanding of projects. He explains what are the four stages of learning and how they are divided into two areas: Competence and Conscience. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why we Need to Differentiate Assumptions and Constraints http://www.ricardo-vargas.com/podcasts/why-we-need-to-differentiate-assumptions-and-constraints/ http://www.ricardo-vargas.com/podcasts/why-we-need-to-differentiate-assumptions-and-constraints/#comments Mon, 14 May 2012 12:03:33 +0000 http://www.ricardo-vargas.com/?p=4538 http://www.ricardo-vargas.com/podcasts/why-we-need-to-differentiate-assumptions-and-constraints/feed/ 8 5:19 In this podcast, Ricardo explains why we should separate Assumptions from Constraints in the project management and do not consider them as similar. You'll learn why the approach strategies should be distinct. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Directly from PMI Global Congress EMEA 2012 in Marseille – France http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-emea-2012-in-marseille-france/ http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-emea-2012-in-marseille-france/#comments Mon, 07 May 2012 17:15:40 +0000 http://www.ricardo-vargas.com/?p=4524 http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-emea-2012-in-marseille-france/feed/ 4 5:00 In this podcast, Ricardo talked directly from Marseille, France, during the PMI Global Congress that brought together participants from 37 countries. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No “Done is Better than Perfect”: What you Can Learn with this Quote http://www.ricardo-vargas.com/podcasts/done-is-better-than-perfect/ http://www.ricardo-vargas.com/podcasts/done-is-better-than-perfect/#comments Mon, 30 Apr 2012 03:10:31 +0000 http://www.ricardo-vargas.com/?p=4518 http://www.ricardo-vargas.com/podcasts/done-is-better-than-perfect/feed/ 31 5:12 In this podcast, Ricardo explains that the project manager should seek to simplify the way he/she leads the projects. In the quest for perfection, many people often create methodologies which are too complex to be used and end up not being used at all. He mentions a methodology he once created, pinpointing ways that enable the simplification of the procedures necessary to manage projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No What is Program Management? http://www.ricardo-vargas.com/podcasts/what-is-program-management/ http://www.ricardo-vargas.com/podcasts/what-is-program-management/#comments Mon, 23 Apr 2012 03:10:11 +0000 http://www.ricardo-vargas.com/?p=4502 http://www.ricardo-vargas.com/podcasts/what-is-program-management/feed/ 6 05:41 In this podcast, Ricardo talks about program management. He explains that the main objective of the program management it to group projects to obtain a benefit that would not be possible if treated singly. Ricardo also talks that the projects contained in a program have the same interest tactical, operational, and the same synergy. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Make or Buy Decision http://www.ricardo-vargas.com/podcasts/make-or-buy-decision/ http://www.ricardo-vargas.com/podcasts/make-or-buy-decision/#comments Wed, 18 Apr 2012 01:34:25 +0000 http://www.ricardo-vargas.com/?p=4495 http://www.ricardo-vargas.com/podcasts/make-or-buy-decision/feed/ 6 6:15 In this podcast, Ricardo talks about the choice of producing a work or service internally or purchase thru a supplier. He shows five items that are important when making the decision. Ricardo also explains that there are other important criteria for choosing to make or buy than the costs involved. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 10 Reasons for Project Failure – Part 2/2 http://www.ricardo-vargas.com/podcasts/10-rasons-failure_2_2/ http://www.ricardo-vargas.com/podcasts/10-rasons-failure_2_2/#comments Tue, 10 Apr 2012 03:09:27 +0000 http://www.ricardo-vargas.com/?p=4460 http://www.ricardo-vargas.com/podcasts/10-rasons-failure_2_2/feed/ 10 07:18 In this second podcast in the series, Ricardo talks about five more causes for the failure of a project. He commented about the importance of communication, project planning, change management, leadership and resources for the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 10 Reasons for Project Failure – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/10-reasons-for-project-failure-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/10-reasons-for-project-failure-part-1-of-2/#comments Thu, 05 Apr 2012 18:30:49 +0000 http://www.ricardo-vargas.com/?p=4452 http://www.ricardo-vargas.com/podcasts/10-reasons-for-project-failure-part-1-of-2/feed/ 7 6:04 In this podcast, Ricardo talks about the 10 main causes of project failure. Just knowing what can go wrong in our project, helps us to avoid it. Five causes are discussed this week and the other five, next week. Ricardo also comments briefly on the PMI Pulse 2012, recently published by PMI. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No What is the Difference Between WBS Item, Work Package, Tasks and WBS Dictionary? http://www.ricardo-vargas.com/podcasts/work_package_tasks_dictionary/ http://www.ricardo-vargas.com/podcasts/work_package_tasks_dictionary/#comments Mon, 26 Mar 2012 03:10:36 +0000 http://www.ricardo-vargas.com/?p=4413 http://www.ricardo-vargas.com/podcasts/work_package_tasks_dictionary/feed/ 11 5:40 In this podcast, Ricardo talks in detail about the components of the WBS. He gives several examples and tips, and explains that the WBS is a fundamental tool for the project and will ensure that the project will deliver the service or product that is being done in the least amount of work possible. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No 4 Different Indexes to Forecast the Project Final Cost Using the Earned Value Analysis http://www.ricardo-vargas.com/podcasts/four_eac_indexes/ http://www.ricardo-vargas.com/podcasts/four_eac_indexes/#comments Wed, 21 Mar 2012 03:10:13 +0000 http://www.ricardo-vargas.com/?p=4400 http://www.ricardo-vargas.com/podcasts/four_eac_indexes/feed/ 2 7:48 In this podcast, Ricardo taks about the indices of earned value in the project. He explains that the great secret of earned value is to evaluate current performance to project the future. Ricardo also explains how to analyze the rate of time or cost when it is less than, equal to or greater than one. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Replanning x Rescheduling a Project http://www.ricardo-vargas.com/podcasts/replanning_rescheduling_a_project/ http://www.ricardo-vargas.com/podcasts/replanning_rescheduling_a_project/#comments Thu, 15 Mar 2012 19:59:32 +0000 http://242216968 http://www.ricardo-vargas.com/podcasts/replanning_rescheduling_a_project/feed/ 6 5:00 In this podcast, Ricardo Vargas discusses the main differences between replanning and rescheduling a project. Although both have as their objective to apply the decisions of the change control process, the approach and scope of changes in each case are significantly different. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Demystifying the Portfolio Management – Part 3/3: A comparison and Decision http://www.ricardo-vargas.com/podcasts/portfolio_part3/ http://www.ricardo-vargas.com/podcasts/portfolio_part3/#comments Thu, 08 Mar 2012 03:09:03 +0000 http://www.ricardo-vargas.com/?p=4288 http://www.ricardo-vargas.com/podcasts/portfolio_part3/feed/ 9 8:14 In this third and final podcast of the series, Ricardo talks about the comparison to the project selection and choice. He gives two examples of comparison one simpler - the weighted score matrix, and other more complex - AHP - Analytic Hierarchy Process. Ricardo explains how to prepare each of the two examples. See the article about AHP mentioned in this podcast at: http://www.ricardo-vargas.com/pt/articles/analytic-hierarchy-process/ Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Demystifying the Portfolio Management – Part 2/3: The Criteria http://www.ricardo-vargas.com/podcasts/portfolio_part2/ http://www.ricardo-vargas.com/podcasts/portfolio_part2/#comments Mon, 05 Mar 2012 03:10:29 +0000 http://www.ricardo-vargas.com/?p=4277 http://www.ricardo-vargas.com/podcasts/portfolio_part2/feed/ 2 6:36 In this second podcast of the series, Ricardo talks about the selection criteria in portfolio management. He explains that in addition to financial criteria, there are others who may be considered and, even if it is intangible, there are ways to make them tangible. Ricardo gives several tips on how to transform these criteria into tangible and also talks about the balance of the criteria chosen. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Demystifying the Portfolio Management – Part 1/3: The Strategy’s Side http://www.ricardo-vargas.com/podcasts/portfolio_part1-3/ http://www.ricardo-vargas.com/podcasts/portfolio_part1-3/#comments Mon, 27 Feb 2012 15:02:42 +0000 http://www.ricardo-vargas.com/?p=4262 http://www.ricardo-vargas.com/podcasts/portfolio_part1-3/feed/ 10 8:11 In this first podcast of the serie, Ricardo talks about the strategic and the portfolio management. He explains that if the manager does not know what is the strategy of the organization, its a waste of time to create comparative to select projects. Ricardo makes an analogy between stones of different sizes and the choice of the sieve for selecting these stones, in other words, you must set the criteria based on the strategy to select projects that meet these criteria. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Understand the Difference between Residual and Secondary Risks http://www.ricardo-vargas.com/podcasts/secondaryrisk_residualrisk/ http://www.ricardo-vargas.com/podcasts/secondaryrisk_residualrisk/#comments Mon, 13 Feb 2012 03:10:07 +0000 http://www.ricardo-vargas.com/?p=4171 In this podcast, Ricardo talks about the difference between the secondary risk and residual risk. He explains that the secondary risk is generated as a side effect the implementation of a response. Residual risk is one that remains, even after implementing responses. Ricardo gives several examples for these two types of risks.

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http://www.ricardo-vargas.com/podcasts/secondaryrisk_residualrisk/feed/ 9 6:53 In this podcast, Ricardo talks about the difference between the secondary risk and residual risk. He explains that the secondary risk is generated as a side effect the implementation of a response. Residual risk is one that remains, even after implementing responses. Ricardo gives several examples for these two types of risks. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
4 Mechanisms for Forecast the Project Schedule and Cost http://www.ricardo-vargas.com/podcasts/forecast_mechanism/ http://www.ricardo-vargas.com/podcasts/forecast_mechanism/#comments Mon, 06 Feb 2012 03:10:19 +0000 http://www.ricardo-vargas.com/?p=4168 In this podcast, Ricardo talks about the methods of forecasting project schedule and cost. He comments that there are four methods of predicting future project performance: time series methods, causal/econometrics methods, judgmental methods and other methods. Ricardo explains and gives examples of each method.

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http://www.ricardo-vargas.com/podcasts/forecast_mechanism/feed/ 6 7:18 In this podcast, Ricardo talks about the methods of forecasting project schedule and cost. He comments that there are four methods of predicting future project performance: time series methods, causal/econometrics methods, judgmental methods and other methods. Ricardo explains and gives examples of each method. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Do You Know the International Risk Governance Council (IRGC)? http://www.ricardo-vargas.com/podcasts/irgc/ http://www.ricardo-vargas.com/podcasts/irgc/#comments Mon, 30 Jan 2012 15:43:34 +0000 http://www.ricardo-vargas.com/?p=4164 In this podcast, Ricardo talks about the framework created by the IRGC and explains the five steps in this framework. He explains that this model clarifies the various perspectives of risk and it is similar to the risk management knowledge area of PMBOK.

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http://www.ricardo-vargas.com/podcasts/irgc/feed/ 2 6:49 In this podcast, Ricardo talks about the framework created by the IRGC and explains the five steps in this framework. He explains that this model clarifies the various perspectives of risk and it is similar to the risk management knowledge area of PMBOK. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Mandatory Relationships x Discretionary Relatioships http://www.ricardo-vargas.com/podcasts/mandatory_relationship/ http://www.ricardo-vargas.com/podcasts/mandatory_relationship/#comments Tue, 24 Jan 2012 16:46:52 +0000 http://www.ricardo-vargas.com/?p=4159 In this podcast, Ricardo talks about mandatory dependencies and discretionary dependencies between the activities of the project. He explains that a mandatory dependency is one that needs to be physically respected and discretionary is one that is made to generate a greater benefit for the project, whether in management or in the results. Ricardo also shows several examples of these two relations of dependence.

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http://www.ricardo-vargas.com/podcasts/mandatory_relationship/feed/ 5 5:23 In this podcast, Ricardo talks about mandatory dependencies and discretionary dependencies between the activities of the project. He explains that a mandatory dependency is one that needs to be physically respected and discretionary is one that is made to generate a greater benefit for the project, whether in management or in the results. Ricardo also shows several examples of these two relations of dependence. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
5 Steps to Prepare the Project Closeout Document http://www.ricardo-vargas.com/podcasts/closeout_document/ http://www.ricardo-vargas.com/podcasts/closeout_document/#comments Tue, 17 Jan 2012 01:58:38 +0000 http://www.ricardo-vargas.com/?p=4153 In this podcast, Ricardo talks about the project closeout document, he explains that this document is a mark that records the completion of the work and certifies the project closeout. He also explains that the project closeout document is divided into 5 parts and shows what is the contents of these parts.

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http://www.ricardo-vargas.com/podcasts/closeout_document/feed/ 6 5:27 In this podcast, Ricardo talks about the project closeout document, he explains that this document is a mark that records the completion of the work and certifies the project closeout. He also explains that the project closeout document is divided into 5 parts and shows what is the contents of these parts. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Using Project Management to Plan your Year – Part 2/2 http://www.ricardo-vargas.com/podcasts/planning_for_2012_2/ http://www.ricardo-vargas.com/podcasts/planning_for_2012_2/#comments Mon, 09 Jan 2012 03:01:30 +0000 http://www.ricardo-vargas.com/?p=4137 http://www.ricardo-vargas.com/podcasts/planning_for_2012_2/feed/ 7 8:16 In this second podcast of the series, Ricardo talks about portfolio management of personal projects. He explains that it is necessary to map and select which projects will be undertaken, which will be later, a which will not be made and which requiring a study before deciding. Ricardo says that projects should be selected according to the goals we have set and gives tips on how these objectives can be defined and how they are selected. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Using Project Management to Plan Your Year – Part 1/2 http://www.ricardo-vargas.com/podcasts/planning_for_2012_1/ http://www.ricardo-vargas.com/podcasts/planning_for_2012_1/#comments Mon, 02 Jan 2012 03:05:07 +0000 http://www.ricardo-vargas.com/?p=4130 In this first podcast of 2, Ricardo gives some tips on how to manage personal projects that take place during the year. He exemplifies with the planning he did for his personal projects for 2011 and 2012. Ricardo explains that the first thing he did was his strategic map and throughout the year, was taking notes of all kinds of projects that have appeared. In the end of 2011, Ricardo did the planning for 2012 selecting the projects he noted and using a scale of benefit X effort/cost.

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http://www.ricardo-vargas.com/podcasts/planning_for_2012_1/feed/ 12 7:52 In this first podcast of 2, Ricardo gives some tips on how to manage personal projects that take place during the year. He exemplifies with the planning he did for his personal projects for 2011 and 2012. Ricardo explains that the first thing he did was his strategic map and throughout the year, was taking notes of all kinds of projects that have appeared. In the end of 2011, Ricardo did the planning for 2012 selecting the projects he noted and using a scale of benefit X effort/cost. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Perspectives 2012 http://www.ricardo-vargas.com/podcasts/perspectives-2012/ http://www.ricardo-vargas.com/podcasts/perspectives-2012/#comments Tue, 27 Dec 2011 19:55:18 +0000 http://1578732761 http://www.ricardo-vargas.com/podcasts/perspectives-2012/feed/ 8 7:25 In this podcast, Ricardo talks about the perspectives for 2012, continuing the subject of the last podcast (Retrospective 2011). He speaks of the continuing challenges in this new year and the opportunities that are born of them. He suggests two very important issues you should study this new year. Also, Ricardo leaves his New Year message, created especially for those who have experienced great difficulties in their work this year. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Retrospective 2011 http://www.ricardo-vargas.com/podcasts/retrospective-2011/ http://www.ricardo-vargas.com/podcasts/retrospective-2011/#comments Mon, 26 Dec 2011 17:06:58 +0000 http://www.ricardo-vargas.com/?p=4115 In this podcast, Ricardo talks about the events of 2011 from the point of view of project management. He said that 2011 was a year when there was a huge demand in Brazil for projects that are happening at the moment and at the same time a very large uncertainty in the world. It has invested heavily in projects around the world in a period of crisis and there is a violent demand for project management, but a great difficulty in the use of best practices in project management.

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http://www.ricardo-vargas.com/podcasts/retrospective-2011/feed/ 2 6:12 In this podcast, Ricardo talks about the events of 2011 from the point of view of project management. He said that 2011 was a year when there was a huge demand in Brazil for projects that are happening at the moment and at the same time a very large uncertainty in the world. It has invested heavily in projects around the world in a period of crisis and there is a violent demand for project management, but a great difficulty in the use of best practices in project management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Who’s Afraid of Failure Can’t Manage Projects http://www.ricardo-vargas.com/podcasts/failure/ http://www.ricardo-vargas.com/podcasts/failure/#comments Mon, 12 Dec 2011 03:10:24 +0000 http://www.ricardo-vargas.com/?p=4110 http://www.ricardo-vargas.com/podcasts/failure/feed/ 6 6:01 In this podcast, Ricardo talks about the fear of failure. He explains that within the project environment we are not in a comfort zone and easy things doesn't need to be managed. Ricardo also said that failure is always part of the process and is also part of the DNA of the project, but who has a fear of failure can not manage projects. Inside the possibility of failure is that we project managers earn our life. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No When is the best moment to implement Project Management Software http://www.ricardo-vargas.com/podcasts/whenimplswtools/ http://www.ricardo-vargas.com/podcasts/whenimplswtools/#comments Mon, 05 Dec 2011 03:01:40 +0000 http://www.ricardo-vargas.com/?p=4104 In this podcast, Ricardo talks about the support tools for project management and the best time to instal them. He explains that there are several softwares on the market that are excellent, but installing a project management tool without a defined methodological process can be a big mistake because the tool must be adapted to the work process.

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http://www.ricardo-vargas.com/podcasts/whenimplswtools/feed/ 6 6:40 In this podcast, Ricardo talks about the support tools for project management and the best time to instal them. He explains that there are several softwares on the market that are excellent, but installing a project management tool without a defined methodological process can be a big mistake because the tool must be adapted to the work process. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
When is the best time to do the Project Kick off Meeting? http://www.ricardo-vargas.com/podcasts/kickoffwhen/ http://www.ricardo-vargas.com/podcasts/kickoffwhen/#comments Tue, 29 Nov 2011 00:06:31 +0000 http://www.ricardo-vargas.com/?p=4081 In this podcast Ricardo talks about the time that the project kick off meeting should be performed. He explains that as the size of the project, the kick off meeting does not necessarily have to be just one but many. Ricardo shows that we can have a kick off meeting early in the project where the WBS is still wider, and we can have another kick off meeting once the plan is ready.

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http://www.ricardo-vargas.com/podcasts/kickoffwhen/feed/ 8 5:54 In this podcast Ricardo talks about the time that the project kick off meeting should be performed. He explains that as the size of the project, the kick off meeting does not necessarily have to be just one but many. Ricardo shows that we can have a kick off meeting early in the project where the WBS is still wider, and we can have another kick off meeting once the plan is ready. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Management Stages x Technical Stages http://www.ricardo-vargas.com/podcasts/managementstage/ http://www.ricardo-vargas.com/podcasts/managementstage/#comments Mon, 21 Nov 2011 03:10:58 +0000 http://www.ricardo-vargas.com/?p=4062 In this podcast, Ricardo differentiates technical stages from management stages. He explains that usually we divide our projects in technical stages to prepare the project schedule where we can drive more than one stage simultaneously, whereas, according to Prince2®, the project is divided into stages that can not be conducted simultaneously, where the manager and the board of the project decide at the end of each stage if the project will continue or not, as the results achieved so far.

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http://www.ricardo-vargas.com/podcasts/managementstage/feed/ 3 6:38 In this podcast, Ricardo differentiates technical stages from management stages. He explains that usually we divide our projects in technical stages to prepare the project schedule where we can drive more than one stage simultaneously, whereas, according to Prince2®, the project is divided into stages that can not be conducted simultaneously, where the manager and the board of the project decide at the end of each stage if the project will continue or not, as the results achieved so far. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Rethinking the concept of Multitasking and Simultaneous Projects http://www.ricardo-vargas.com/podcasts/nomultitasking/ http://www.ricardo-vargas.com/podcasts/nomultitasking/#comments Mon, 14 Nov 2011 03:00:04 +0000 http://www.ricardo-vargas.com/?p=4056 In this podcast, Ricardo talks about the execution of multiple projects simultaneously and using the same resources, ie multitasking. He explains that we often think that sharing resources across multiple projects can generate the perception that work is evolving, but this can cause delays and loss of quality in work. Ricardo suggests that it is better to concentrate efforts on one project at a time than to do all at once.

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http://www.ricardo-vargas.com/podcasts/nomultitasking/feed/ 4 4:59 In this podcast, Ricardo talks about the execution of multiple projects simultaneously and using the same resources, ie multitasking. He explains that we often think that sharing resources across multiple projects can generate the perception that work is evolving, but this can cause delays and loss of quality in work. Ricardo suggests that it is better to concentrate efforts on one project at a time than to do all at once. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Differentiating Workaround, Contingency and Fallback Plans in the Risk Acceptance http://www.ricardo-vargas.com/podcasts/fallback/ http://www.ricardo-vargas.com/podcasts/fallback/#comments Thu, 10 Nov 2011 01:25:48 +0000 http://www.ricardo-vargas.com/?p=4052 In this podcast, Ricardo talks about workaround, contingency and fallback plans – risk’s responses. He explains each type of response and gives examples of use of these responses.

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http://www.ricardo-vargas.com/podcasts/fallback/feed/ 3 6:27 In this podcast, Ricardo talks about workaround, contingency and fallback plans - risk's responses. He explains each type of response and gives examples of use of these responses. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Networking Value in National PM Events (VI Brazilian Congress of Project Management) http://www.ricardo-vargas.com/podcasts/fortaleza-braziliancongress/ http://www.ricardo-vargas.com/podcasts/fortaleza-braziliancongress/#comments Mon, 31 Oct 2011 03:10:18 +0000 http://www.ricardo-vargas.com/?p=4045 In this podcast, Ricardo talks about the VI Brazilian Congress of Project Management, he explains that this is the most important event in Brazil because is promoted for all the chapters in Brazil. Ricardo says that the one of the global directors of PMI – Ricardo Triana will attend the event beyond the astronaut Marcos Pontes and other major conferences.

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http://www.ricardo-vargas.com/podcasts/fortaleza-braziliancongress/feed/ 2 4:31 In this podcast, Ricardo talks about the VI Brazilian Congress of Project Management, he explains that this is the most important event in Brazil because is promoted for all the chapters in Brazil. Ricardo says that the one of the global directors of PMI - Ricardo Triana will attend the event beyond the astronaut Marcos Pontes and other major conferences. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from Dallas – TX at PMI Global Congress 2011 North America http://www.ricardo-vargas.com/podcasts/directly-from-dallas/ http://www.ricardo-vargas.com/podcasts/directly-from-dallas/#comments Mon, 24 Oct 2011 19:51:01 +0000 http://www.ricardo-vargas.com/?p=4036 In this podcast, Ricardo talks directly from Dallas where the Global Congress of PMI is heppening. He talks of the Leadership Meeting, the persons who received awards and Brazilians who are attending the event. He also comments on the lectures and speakers who will make presentations, including on the presentation that he will hold tomorrow.

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http://www.ricardo-vargas.com/podcasts/directly-from-dallas/feed/ 1 6:47 In this podcast, Ricardo talks directly from Dallas where the Global Congress of PMI is heppening. He talks of the Leadership Meeting, the persons who received awards and Brazilians who are attending the event. He also comments on the lectures and speakers who will make presentations, including on the presentation that he will hold tomorrow. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Urgency: A Critical Factor in Project Planning http://www.ricardo-vargas.com/articles/urgency-critical-factor/ http://www.ricardo-vargas.com/articles/urgency-critical-factor/#comments Mon, 24 Oct 2011 03:25:53 +0000 http://www.ricardo-vargas.com/?p=3884

Accepted for publication at

PMI Global Congress 2011 – North America
Dallas – Texas – USA – 2011

Related Podcasts

Summary

Given the natural speed and dynamism of the world, agility and sense of urgency has become preponderant in all projects. Challenging deadlines and budget make the management of these projects a risky activity. The more time and cost become challenging, the need for a more meticulous and detailed planning becomes fundamental. On the other hand, the urgency in the planning of these activities often directly affects the quality of the developed plans.

This article aims to discuss the costs and benefits of speed in developing a project plan and proposes a basic process that consists of 10 steps to plan and 10 steps to track a project in a short time. The process aims to simplify and prioritize critical documents to be developed in order to ensure the purpose, scope, deadlines and budgets, as well as direct restrictions of the project to be developed.

Finally, the article presents a list of success factors to be observed to handle and quickly develop effective project plans.

Urgency: the costs and benefits of speed

A project is carried out to produce a beneficial change in the environment and it has three features (TURNER & MÜLLER, 2003):

  • It is unique: there are not equal previous projects.
  • It is new: previous projects did not use the same approach.
  • It is temporary: it has a beginning and an end.

These features produce certain pressures, like the sense of urgency, the uncertainty and the need of integration. The urgency is directly related to the production of results within the shortest time.

Objective

Features

Pressures

To deliver Beneficial Change

Unique

Uncertainty

Novel

Integration

Temporary

Urgency

According to Betty Sue Flowers (MARCUS, 1998), people must have a sense of urgency even when they are facing a good situation. The sense of urgency doesn’t come only from an emerging crisis, but also from the need to be ready for any situation, including opportunities.

Given this scenario, it is essential that the project manager respond immediately to requests from customers and from other interested with a legitimate sense of urgency (KERNION, 1999). Thus, the challenge becomes balancing the sense of urgency and pressure with time for reflection, experimentation and innovation that a unique product or service will require to be developed (EPPLER & SUKOWSKI, 2000).

Simplified flow for the development of project plan

In order to directly attend the need, we need to simplify the management process. Simplification occurs through careful analysis of the processes that may be deemed fundamental and essential. Importantly, only the processes considered crucial must be carried on, since we consider the speed of development as a priority, but it does not mean that other processes that are not listed cannot bring results in project planning.

The proposed flow is based on the PMBOK ® Guide (PMI, 2008), highlighting the sequence of activities that make up the process, starting from a assumption that there is already an assigned project manager. From the detailed processes in the guide, we set up a flow with 10 processes, as highlighted in Exhibit 01 and detailed below.

6868.png

Exhibit 02 – Simplified flow for the development of Project Plan

1. Develop Project Charter – This process aims to develop the Project Charter that documents the business needs that will be attended by the projects, in addition to obtaining the commitment of areas / people involved and disseminate the official birth of the project to all interested. The Project Charter should be kept unchanged throughout the project. Its update is done in case of extreme change in the project, for example, changing the sponsor or the project manager, or a substantial change in the budget or schedule. The “urgent” Project Charter should also incorporate some elements that traditionally should be in the Scope Statement. In this case, what is proposed is the development of a single document that brings together the main points of the Statement of Scope to the Project Charter.

2. Create the Work Breakdown Structure – Process that aims to develop the main tool of design of the project scope. The project WBS is a hierarchical structure that presents a visual decomposition of the project into smaller, more manageable parts, called “work packages”. It must be constructed as “top-down” and detailed initially up into approximately 3 levels. The other levels will be updated and detailed with the development of projects through rolling waves planning models (GITHENS, 1998).

6878.pngExhibit 03 – Rolling Wave planning (GITHENS, 1998)

3. Develop Schedule – Process that assigns durations to work packages (lower level of WBS) and the precedence relationship between these packages, resulting in the project Network Diagram and Gantt chart. At this stage, the estimated duration of the project is determined.

4. Determine Budget – The objective of this process is developing the estimated cost of the project works that will consolidate the project budget and the baseline costs. The project budget should be developed at the level of detail that is compatible with the actual details of the work and can / should be refined with project updates.

5. Develop Responsibility Assignment Matrix – Process that aims to develop the spreadsheet that defines the responsibilities within the project. It lists the supplies and / or large blocks of WBS with the human resources responsible for implementation and approval of work, as well as the stakeholders to be informed and consulted. It is also known as RACI matrix (ARMSHAW, 2005).

6. Develop Communication Plan – Process that aims to develop a simplified spreadsheet highlighting who will receive the information (identified stakeholders), what is going to be informed, when communication is made, where the information will be collected, the reason why the communication is being performed, who is responsible for communication and how it is done and the cost of production of the information (5W and 2H).

7. Develop Preliminary Risk Plan – The objective of this process is to identify potential project risks using a structured approach to collect and document the identified risks, such as the Nominal Group Technique (NGT), Delphi and Brainstorming (ADAMS & MEANS, 2006). It is suggested that only threats are identified, ruling out opportunities for the process to be developed faster. Then, the identified risks are analyzed in terms of probability, impact and urgency, allowing that action plans can be developed in response to major risks. The risk plan will be updated throughout the work.

8. Consolidate Project Plan – Process that groups the documents previously produced in the Project Plan. Any presentations and supporting documents can also be consolidated into the plan to facilitate the process of presenting the project for approval.

9. Approve Project Plan The objective of this process is to ensure that the responsible for the approval can review the documents and the analysis developed in the project plan, ensuring that all deliveries are planned in accordance with the stated objectives. The approval authorizes the commencement of work and turns the project plan approved at the baseline assessment of performance.

10. Hold Project Kick-off Meeting – The Project kick-off meeting is an extremely important event because it aims to promote the start of project activities and how it should contribute to achieving the Organization’s strategic objectives. In addition to constitute itself as an opportunity that seeks to ensure the Organization’s commitment to the project, it is considered the first work meeting of the core project team, in which the plan is presented, always seeking the involvement of the stakeholders.

Simplified flow for project monitoring and control

The update of the project plan developed according to the previous process can also be presented by 10 (ten) simplified procedures, including the approval process and implementation of changes. The simplified procedure for updating the plan is carried out repeatedly for each monitoring cycle.

The cycle time is determined by a function of the duration of the project and organizational planning parameters (ROSENHEAD, 2008). Usually, a project must have its monitoring cycle every 10% of the projected length; the minimum interval between cycles is 1 day and the maximum interval between cycles is 30 days. As an example, a project of 10 weeks suggests a break between cycles of 1 week as a project of 20 weeks suggests a break between cycles of 2 weeks.

The simplified flow for project monitoring and control is shown in Exhibit 04.

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Exhibit 04 – Simplified Flow for the Project Monitoring and Control

1. Collect Performance Information – The goal of this process is to obtain information on the performance of the project with the team, the suppliers, etc. The collection can be done in a structured way or through adaptations and simplifications of agile models, such as parts of the dynamics model for the collection and exchange of information taken at meetings of Daily Scrum of the Scrum model, for example (SCHWABER, 2010). It is important to emphasize that the goal of the process is the collection of information and not decision making.

2. Update WBS – The objective of this process is to update the Work Breakdown Structure (WBS) so that it continues to reflect all deliveries made in the cycle. The remaining work should be evaluated, and the drawing of future deliveries should be performed if necessary. We must pay important attention to the difference between detailing future deliveries and creating new deliveries. The creation of new deliveries that are not expected is a classic case of a sprawl of scope (scope creep) (KUPRENAS & NASR, 2003).

3. Update Schedule – Process that aims to identify the work already done and their deadlines, as well as updates on the WBS, seeking to update the schedule and determine the project deadline. The new timing and deadline will be compared with the approved schedule (baseline) to assess the performance of the project.

4. Update Budget – The objective of this process is to assess the outlay for carrying out the work cycle and update the remaining budget. The new budget will be compared with the approved budget (baseline) to evaluate the performance of the project.

5. Revise Responsibility Assignment Matrix and Communication Plan – The objective of this process is to update the Responsibility Assignment Matrix and Communication Plan. During the implementation of the project changes beyond the responsibilities inherent to the project, there are often roles exchanging and refinements in responsibilities, that causes changes in the Responsibility Matrix. The communication results are evaluated in this process to check if any element of communication needs to be created, deleted or amended in accordance with the behavior of the stakeholders. It aims to ensure that only valid information that supports the decision and the need for information will be produced, avoiding unnecessary stress on the production of useless information.

6. Update Risk Plan and Risk Response Plan The objective of this process is to update the Risk Plan by identifying new risks and reviewing the already identified risks. The status of existing action plans and the evaluation of their effectiveness are also performed in this process.

7. Develop Project Status Report – The objective of this process is to consolidate all executive information in a simple and straightforward report. The target audience of the report is defined in the Communication Plan and its contents present summary information about the performance of the project cycle and recommendations for change.

8. Hold Change Control Meeting – The objective of this process is to communicate the status of the project cycle, analyze the proposed change requests and decide on their incorporation (or not) to the projects.

9. Implement Approved Changes – Process that aims to incorporate the approved changes to the project plan, including quick review of the documents already developed and appropriated communications about the implemented changes to the stakeholders.

10. Document Lessons Learned – Process that aims to consolidate the lessons learned collected during the last cycle of the project. The lessons contain the record of positive experiences, such as improvements in processes and good management decisions, in addition to the negative experiences that have occurred and the points that should be improved identified during the project.

Assumptions and success factors

Developing project plans quickly requires a different environment from the conventional planning. It is crucial to understand some assumptions and success factors to proper understand not only the process but also the results.

Initially, it is important to note that the results obtained with this model are less detailed than those of conventional planning based on the PMBOK ® Guide. This model assumes a reduction in the existing procedures in order to accelerate the development process, and areas of knowledge related to the scope, time, cost, risk and communications were prioritized. This does not mean that other areas are less important.

The documents produced must be simple and straightforward, if there are document templates in the Organization, only their essential fields should be used. It is important to advice that essential is different from important. Essential fields and information are the kind of information that can make the planning not viable if they are not provided. Another advice is to produce the documents using the usual market software such as spreadsheets and texts processors. Integrated and interrelated complex systems increase the ability to control and have many benefits; however, they may not provide the mobility and flexibility required for the accelerated development of the plan.

It is suggested that project planning is performed using the concept of rolling waves (GITHENS, 1998), in order to detail with precision the immediate work and with less accuracy the medium and long term work. These works of medium and long term will be detailed in future update cycles.

Also, quick planning requires a degree of tolerance to risks bigger than the required by the conventional planning (HILSON & MURRAY-WEBSTER, 2005). We can observe, in Exhibit 05, that profiles that have a high degree of discomfort with the uncertainty (Paranoid and Averse) present more difficult to plan, execute and decide on a scenario of urgency due to the high degree of discomfort found in these occasions. Therefore, the proposed process might not fit for all organizations in all cases.

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Exhibit 05 – Response to Uncertainty (HILSON & MURRAY-WEBSTER, 2005)

Finally, it is suggested that planning work should be done as a team, following classical models of co-location ( or war room), in which the project team works most of the time in the same physical space and keeps in touch face to face (MEARMAN, 2004). This type of work allows a better communication, a reduction in business “silos”, an increase in capacity and knowledge sharing in an emergency scenario, and makes the decision process more responsive and effective.

Conclusions

Quick planning aiming to attend the continuous need and the sense of urgency of the organizations is a clear trend in working with projects. In order to satisfy this critical sense of urgency, many projects are implemented without any planning because planning takes time and affects the sense of urgency required.

The proposed model aims to attend this specific scenario, it is a simplification of the planning reality and it does not intended to replace the conventional model of project planning, in which concepts, methods and market standards must be evaluated and structured in the project planning.

When there is a minimum acceptable time for the development of a structured plan, this plan becomes essential and should address in greater detail the knowledge areas outlined in PMBOK ® Guide (PMI, 2008), as well as other concepts and market standards. The use of the proposed model is only recommended when there is no possibility of building a structured plan for the project.

REFERENCES

ADAMS, T & MEANS, J. (2006). The Project Meeting Facilitator. Seattle: PMI Global Congress North America.

ARMSHAW, D. (2005). There has to be a Better way than this! How to get big benefits from Project management basics. Edimburg: PMI Global Congress EMEA.

EPPLER, M. J. & SUKOWSKI, O. (2000). Managing Team Knowledge: Core Processes, Tools and Enabling Factors. London: European Management Journal Vol. 18, No. 3

GITHENS, G D. (1998). Rolling Wave Project Planning. Long Beach: PMI Annual Symposium and Congress.

HILSON, D. & MURRAY-WEBSTER, R. (2005). Understanding and Managing Risk Attitude, Burlington: Gower.

KERNION, D. M. The Project Manager—A Key Player in the Consulting Engineering Firm’s Marketing Plan. Long Beach: PMI Annual Congress and Symposium.

KUPRENAS, J. A. & NASR, E. B. (2003). Controlling Design-Phase Scope Creep. Morgantown: AACE Transactions.

MARCUS, G. (1998). Corporate Futures, Vol. V. Late Editions Series. Chicago: University of Chicago Press.

MEARMAN, M. (2004). Implementation Project Management: Now that You Bought it What Do You Do? Anaheim: PMI Annual Symposium and Congress.

PMI (2008). PMBOK: A Guide to the Project Management Body of Knowledge: Forth Edition. Newtown Square: Project Management Institute.

ROSENHEAD, R. (2008). Let’s Make Those Project Meetings More Effective. Available at http://www.projectsmart.co.uk/pdf/make-those-project-meetings-more-effective.pdf

SCHWABER, K. (2010). Agile Project Management with Scrum. Redmond: Microsoft Press.

TURNER, J. R. & MÜLLER, R. (2003). On the nature of the project as a temporary organization. Amsterdam: International Journal of Project Management.

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Crisis Management: The Denial Problem http://www.ricardo-vargas.com/podcasts/crisis_denial/ http://www.ricardo-vargas.com/podcasts/crisis_denial/#comments Tue, 18 Oct 2011 03:10:33 +0000 http://www.ricardo-vargas.com/?p=4016 In this podcast, Ricardo talks about crisis management. He explains that the first reaction in crisis management is the denial and that this is the worst option. Ricardo also explains that the crisis is caused by a “trigger” that is triggered by some event that will generate a chain reaction and can cause an uncontrolled situation in the project.

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http://www.ricardo-vargas.com/podcasts/crisis_denial/feed/ 3 5:50 In this podcast, Ricardo talks about crisis management. He explains that the first reaction in crisis management is the denial and that this is the worst option. Ricardo also explains that the crisis is caused by a "trigger" that is triggered by some event that will generate a chain reaction and can cause an uncontrolled situation in the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Steve Jobs: Genious? Innovator? Project Manager? http://www.ricardo-vargas.com/podcasts/stevejobs/ http://www.ricardo-vargas.com/podcasts/stevejobs/#comments Fri, 14 Oct 2011 21:59:38 +0000 http://www.ricardo-vargas.com/?p=4013 In this podcast, Ricardo talks about Steve Jobs, he says that after reading many biographies, articles and news about Steve Jobs, there were many doubts about the DNA that generated so much success for Apple – it was the genius, innovation or the ability to manage projects from Steve Jobs? He notes that the way Apple manages its business is totally different from what is taught in administration books where collaboration and customer are essential for the growth of the organization.

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http://www.ricardo-vargas.com/podcasts/stevejobs/feed/ 15 6:02 In this podcast, Ricardo talks about Steve Jobs, he says that after reading many biographies, articles and news about Steve Jobs, there were many doubts about the DNA that generated so much success for Apple - it was the genius, innovation or the ability to manage projects from Steve Jobs? He notes that the way Apple manages its business is totally different from what is taught in administration books where collaboration and customer are essential for the growth of the organization. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How many projects a Project Manager can manage at the same time? http://www.ricardo-vargas.com/podcasts/howmanyprojects/ http://www.ricardo-vargas.com/podcasts/howmanyprojects/#comments Mon, 03 Oct 2011 03:10:03 +0000 http://www.ricardo-vargas.com/?p=3985 In this podcast, Ricardo talks about the number of projects that one person can manage at the same time. He says that there is no a specific number, but explains that the most important is the focus that the project manager must have. Ricardo also says that for very large projects does not justify a project manager to share the work with other projects, but in small projects that have some similarity, the project manager could manage multiple projects simultaneously.

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http://www.ricardo-vargas.com/podcasts/howmanyprojects/feed/ 36 7:01 In this podcast, Ricardo talks about the number of projects that one person can manage at the same time. He says that there is no a specific number, but explains that the most important is the focus that the project manager must have. Ricardo also says that for very large projects does not justify a project manager to share the work with other projects, but in small projects that have some similarity, the project manager could manage multiple projects simultaneously. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Power of Positive Feedback http://www.ricardo-vargas.com/podcasts/positive_feedback/ http://www.ricardo-vargas.com/podcasts/positive_feedback/#comments Mon, 26 Sep 2011 03:10:16 +0000 http://www.ricardo-vargas.com/?p=3967 In this podcast Ricardo talks about the strength of a positive feedback. He says that we have  a culture of giving negative feedback and that we usually do not remember to praise when a good work is done. Ricardo explains that just an email or a comment about the good work  is usually enough to motivate anybody, thus leading her/him to make less mistakes in the execution of his/her work. He also explains that a positive feedback must always be honest.

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http://www.ricardo-vargas.com/podcasts/positive_feedback/feed/ 21 5:14 In this podcast Ricardo talks about the strength of a positive feedback. He says that we have  a culture of giving negative feedback and that we usually do not remember to praise when a good work is done. Ricardo explains that just an email or a comment about the good work  is usually enough to motivate anybody, thus leading her/him to make less mistakes in the execution of his/her work. He also explains that a positive feedback must always be honest. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
My sponsor has changed. And now? http://www.ricardo-vargas.com/podcasts/change_sponsor/ http://www.ricardo-vargas.com/podcasts/change_sponsor/#comments Tue, 20 Sep 2011 01:26:52 +0000 http://www.ricardo-vargas.com/?p=3965 In this podcast, Ricardo talks about the actions that the project manager should have when the sponsor of the project changes. He explains that although the sponsor is the great supporter of the project, this is a natural fact, he also gives 4 tips on how the project manager should act when it happens.

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http://www.ricardo-vargas.com/podcasts/change_sponsor/feed/ 3 7:05 In this podcast, Ricardo talks about the actions that the project manager should have when the sponsor of the project changes. He explains that although the sponsor is the great supporter of the project, this is a natural fact, he also gives 4 tips on how the project manager should act when it happens. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Write a Good Project Objective: The SMART Technique http://www.ricardo-vargas.com/podcasts/smart_objective/ http://www.ricardo-vargas.com/podcasts/smart_objective/#comments Mon, 12 Sep 2011 03:04:49 +0000 http://www.ricardo-vargas.com/?p=3961 In this podcast Ricardo talks about the project objective, he explains that many people think that only the name is enough to understand the project, but the objective is important to write and explain “what is” the project, within time and estimated costs. Ricardo also says that the objective should be a sentence that explains exactly what you want to do. The objective is not a justification, but is related to the work to be done, unlike the justification that is “why” the project will be done.

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http://www.ricardo-vargas.com/podcasts/smart_objective/feed/ 22 7:16 In this podcast Ricardo talks about the project objective, he explains that many people think that only the name is enough to understand the project, but the objective is important to write and explain "what is" the project, within time and estimated costs. Ricardo also says that the objective should be a sentence that explains exactly what you want to do. The objective is not a justification, but is related to the work to be done, unlike the justification that is "why" the project will be done. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
When the Boss doesn’t Accept the Project Manager Opinion http://www.ricardo-vargas.com/podcasts/bossxpm/ http://www.ricardo-vargas.com/podcasts/bossxpm/#comments Thu, 08 Sep 2011 18:17:45 +0000 http://www.ricardo-vargas.com/?p=3959 In this podcast, Ricardo talks about the relationship between the project manager and his boss in the organization. He explains that different opinions are part of the work and when the project manager suggests a direction to a superior, he must have grounding through data and facts, so hardly he will be challenged.

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http://www.ricardo-vargas.com/podcasts/bossxpm/feed/ 10 6:02 In this podcast, Ricardo talks about the relationship between the project manager and his boss in the organization. He explains that different opinions are part of the work and when the project manager suggests a direction to a superior, he must have grounding through data and facts, so hardly he will be challenged. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Working in International Projects: Understanding the Cultural Aspects http://www.ricardo-vargas.com/podcasts/doing_project_business_intl/ http://www.ricardo-vargas.com/podcasts/doing_project_business_intl/#comments Mon, 29 Aug 2011 03:10:17 +0000 http://www.ricardo-vargas.com/?p=3930 In this podcast, Ricardo talks about working in projects of different cultures. He explains that to work in an international project is necessary to know the way of life, how people in the country were educated, how the minds of these people work and respect each culture. Ricardo also talks that even in Brazil, to develop a project in the South is different to developing a project in the North, as there is a difference in culture and values.

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http://www.ricardo-vargas.com/podcasts/doing_project_business_intl/feed/ 13 6:43 In this podcast, Ricardo talks about working in projects of different cultures. He explains that to work in an international project is necessary to know the way of life, how people in the country were educated, how the minds of these people work and respect each culture. Ricardo also talks that even in Brazil, to develop a project in the South is different to developing a project in the North, as there is a difference in culture and values. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Understanding the Criterion, the Conditions and the Thresholds of a Quality Requirements http://www.ricardo-vargas.com/podcasts/quality_req_crit/ http://www.ricardo-vargas.com/podcasts/quality_req_crit/#comments Mon, 22 Aug 2011 03:10:26 +0000 http://www.ricardo-vargas.com/?p=3917 In this podcast, Ricardo talks about the criteria for quality requirements, he explains that the criterion is the object on which the quality requirement is being measured. Ricardo also talks about why the conditions to meet a quality criteria have a thresholds which is how long this condition meets the criteria and when it does not meet.

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http://www.ricardo-vargas.com/podcasts/quality_req_crit/feed/ 9 5:47 In this podcast, Ricardo talks about the criteria for quality requirements, he explains that the criterion is the object on which the quality requirement is being measured. Ricardo also talks about why the conditions to meet a quality criteria have a thresholds which is how long this condition meets the criteria and when it does not meet. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Quality Requirements http://www.ricardo-vargas.com/podcasts/project-quality-requirements/ http://www.ricardo-vargas.com/podcasts/project-quality-requirements/#comments Thu, 18 Aug 2011 16:27:45 +0000 http://www.ricardo-vargas.com/?p=3914 In this podcast, Ricardo talks about the project quality requirements, he explains that sometimes the quality requirements are set when the project is near the end, and sometimes the project manager does not involve the customer early in the project and the requirements are made in the light of their understanding. Ricardo also explains that the quality requirements need to be tangible and relevant.

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http://www.ricardo-vargas.com/podcasts/project-quality-requirements/feed/ 13 6:54 In this podcast, Ricardo talks about the project quality requirements, he explains that sometimes the quality requirements are set when the project is near the end, and sometimes the project manager does not involve the customer early in the project and the requirements are made in the light of their understanding. Ricardo also explains that the quality requirements need to be tangible and relevant. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
A Tribute to Professor Carlos Salles http://www.ricardo-vargas.com/podcasts/tribute-salles/ http://www.ricardo-vargas.com/podcasts/tribute-salles/#comments Tue, 09 Aug 2011 16:29:10 +0000 http://www.ricardo-vargas.com/?p=3902 In this podcast, Ricardo talks about professor Salles who unfortunately left us a few days ago. He says that Salles was an extremely correct person, who was specialist in Project Management and much beloved by his students and colleagues. Ricardo also talks about the importance of the proximity between the PMI and the PM community in Brazil that Salles was ahead.

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http://www.ricardo-vargas.com/podcasts/tribute-salles/feed/ 23 3:12 In this podcast, Ricardo talks about professor Salles who unfortunately left us a few days ago. He says that Salles was an extremely correct person, who was specialist in Project Management and much beloved by his students and colleagues. Ricardo also talks about the importance of the proximity between the PMI and the PM community in Brazil that Salles was ahead. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Indicators X Project Management Indicators http://www.ricardo-vargas.com/podcasts/projectindicatorxpmindicator/ http://www.ricardo-vargas.com/podcasts/projectindicatorxpmindicator/#comments Mon, 01 Aug 2011 03:10:26 +0000 http://www.ricardo-vargas.com/?p=3874 In this podcast, Ricardo talks about the difference between the project indicators and indicators of project management. He explains that the project indicators measure the expected benefits and these usually appear after the project ended, but the indicators of project management are related to control during project execution, where planned deliveries are compared with performed deliveries.

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http://www.ricardo-vargas.com/podcasts/projectindicatorxpmindicator/feed/ 7 5:52 In this podcast, Ricardo talks about the difference between the project indicators and indicators of project management. He explains that the project indicators measure the expected benefits and these usually appear after the project ended, but the indicators of project management are related to control during project execution, where planned deliveries are compared with performed deliveries. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Certification MCTS in Project 2010 http://www.ricardo-vargas.com/podcasts/mcts-project-2010/ http://www.ricardo-vargas.com/podcasts/mcts-project-2010/#comments Mon, 25 Jul 2011 13:06:17 +0000 http://1200318856 In this podcast, Ricardo talks about the advantages that the Microsoft Certified Technical (Technology) Specialist certification for Project 2010 bring forth to the project manager’s career when combined with other certifications such as CAPM or PMP from PMI. He explains that a professional who has both qualifications has more chances of success in the field for he knows how to apply the technical theory using a PM tool.

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http://www.ricardo-vargas.com/podcasts/mcts-project-2010/feed/ 21 5:40 In this podcast, Ricardo talks about the advantages that the Microsoft Certified Technical (Technology) Specialist certification for Project 2010 bring forth to the project manager's career when combined with other certifications such as CAPM or PMP from PMI. He explains that a professional who has both qualifications has more chances of success in the field for he knows how to apply the technical theory using a PM tool. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
WBS and the Deliverables Orientation: How to Implement the Same Tasks in Several Departments http://www.ricardo-vargas.com/podcasts/wbsdeliverableorientation/ http://www.ricardo-vargas.com/podcasts/wbsdeliverableorientation/#comments Mon, 18 Jul 2011 21:00:19 +0000 http://www.ricardo-vargas.com/?p=3859 In this podcast, Ricardo talks about how to create a WBS. He explains that even though there are no specific rules to create a WBS, the most important thing is to allow the ones who will execute the work to fully understand what needs to be done. Ricardo also explains that the WBS does not provide any chronological sequence, but instead must guarantee that all the work to be produced is effectively broken down up to the point where the activities can be assigned to those who will execute them.

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http://www.ricardo-vargas.com/podcasts/wbsdeliverableorientation/feed/ 4 5:55 In this podcast, Ricardo talks about how to create a WBS. He explains that even though there are no specific rules to create a WBS, the most important thing is to allow the ones who will execute the work to fully understand what needs to be done. Ricardo also explains that the WBS does not provide any chronological sequence, but instead must guarantee that all the work to be produced is effectively broken down up to the point where the activities can be assigned to those who will execute them. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
What is the Level of Detail in the Information Provided to Project Applying for the Portfolio? http://www.ricardo-vargas.com/podcasts/level-of-detail-in-the-information-provided-to-project-applying-for-the-portfolio/ http://www.ricardo-vargas.com/podcasts/level-of-detail-in-the-information-provided-to-project-applying-for-the-portfolio/#comments Tue, 12 Jul 2011 23:22:11 +0000 http://www.ricardo-vargas.com/?p=3853 In this podcast, Ricardo explains when it’s necessary to detail or not a project during the prioritization process within the portfolio management. He also talks about some types of information needed to detect which are the most viable projects for an organization.

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http://www.ricardo-vargas.com/podcasts/level-of-detail-in-the-information-provided-to-project-applying-for-the-portfolio/feed/ 3 5:55 In this podcast, Ricardo explains when it's necessary to detail or not a project during the prioritization process within the portfolio management. He also talks about some types of information needed to detect which are the most viable projects for an organization. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Evaluate a Job Offer in Project Management http://www.ricardo-vargas.com/podcasts/joboffer/ http://www.ricardo-vargas.com/podcasts/joboffer/#comments Mon, 04 Jul 2011 03:11:47 +0000 http://www.ricardo-vargas.com/?p=3850 In this podcast, Ricardo talks about job opportunities in project management, he explains that when a professional seeks an opportunity, he has to carefully consider the remuneration, the company itself and his career as a project manager in that company.

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http://www.ricardo-vargas.com/podcasts/joboffer/feed/ 8 6:35 In this podcast, Ricardo talks about job opportunities in project management, he explains that when a professional seeks an opportunity, he has to carefully consider the remuneration, the company itself and his career as a project manager in that company. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The cost of Project Management and the PMO http://www.ricardo-vargas.com/podcasts/costofpm/ http://www.ricardo-vargas.com/podcasts/costofpm/#comments Tue, 28 Jun 2011 15:43:44 +0000 http://www.ricardo-vargas.com/?p=3846 In this podcast, Ricardo talks about how appropriate the amounts allocated to the project management activities in the project. He explains that there is no an international standard to define the values, but there are good practices. Ricardo also explains that the percentage for the costs of project management is variable in relation to the total project cost, will be less on projects that cost more and more expensive in lower-cost projects.

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http://www.ricardo-vargas.com/podcasts/costofpm/feed/ 9 7:03 In this podcast, Ricardo talks about how appropriate the amounts allocated to the project management activities in the project. He explains that there is no an international standard to define the values, but there are good practices. Ricardo also explains that the percentage for the costs of project management is variable in relation to the total project cost, will be less on projects that cost more and more expensive in lower-cost projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Identifying the Project Vital Signs http://www.ricardo-vargas.com/podcasts/vitalsigns/ http://www.ricardo-vargas.com/podcasts/vitalsigns/#comments Mon, 20 Jun 2011 03:10:26 +0000 http://www.ricardo-vargas.com/?p=3779 In this podcast, Ricardo makes a comparison between monitoring of the project and monitoring of a patient in an Intensive Care at the hospital. He explains that the Project Manager should monitor since the beginning, the project vital signs and based on these signals, identify deviations and take preventive actions for the project remains viable.

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http://www.ricardo-vargas.com/podcasts/vitalsigns/feed/ 4 7:29 In this podcast, Ricardo makes a comparison between monitoring of the project and monitoring of a patient in an Intensive Care at the hospital. He explains that the Project Manager should monitor since the beginning, the project vital signs and based on these signals, identify deviations and take preventive actions for the project remains viable. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Tribute to Eliyahu Goldratt http://www.ricardo-vargas.com/podcasts/goldratt/ http://www.ricardo-vargas.com/podcasts/goldratt/#comments Mon, 13 Jun 2011 03:00:46 +0000 http://www.ricardo-vargas.com/?p=3795 In this podcast Ricardo makes a tribute to the Israeli physicist Elliyahu Goldratt. He passed away last Saturday, June 11th, 2001 with 64 years of age. Goldratt was one of the most charismatic and revolutionary thinkers of the organizational work. He created the Theory of Contraints (TOC) and the Critical Chain Project Management and his studies and researches are the working standard of the modern organizations worldwide.

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http://www.ricardo-vargas.com/podcasts/goldratt/feed/ 4 5:35 In this podcast Ricardo makes a tribute to the Israeli physicist Elliyahu Goldratt. He passed away last Saturday, June 11th, 2001 with 64 years of age. Goldratt was one of the most charismatic and revolutionary thinkers of the organizational work. He created the Theory of Contraints (TOC) and the Critical Chain Project Management and his studies and researches are the working standard of the modern organizations worldwide. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The risk of pricing a project without Scope http://www.ricardo-vargas.com/podcasts/pricewithnoscope/ http://www.ricardo-vargas.com/podcasts/pricewithnoscope/#comments Mon, 06 Jun 2011 03:10:19 +0000 http://www.ricardo-vargas.com/?p=3777 http://www.ricardo-vargas.com/podcasts/pricewithnoscope/feed/ 7 6:32 In this podcast, Ricardo talks about the difference between cost and price of the project and gives some tips to put the price on the project. He explains that it is often important to divide the project into two - the first to define the scope and the second based on the scope, to detail the other design needs. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No Why Time Management is Irrelevant in a Project? http://www.ricardo-vargas.com/podcasts/whytimemanagementisirrelevant/ http://www.ricardo-vargas.com/podcasts/whytimemanagementisirrelevant/#comments Mon, 30 May 2011 03:10:54 +0000 http://www.ricardo-vargas.com/?p=3758 In this podcast, Ricardo talks about time management in projects, he explains that many people are tied to time management and comments that the delay acts as a thermometer, but it may not necessarily be a problem in time management and it can result in poor management of scope, human resources or other problems that the project manager may not identify.

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http://www.ricardo-vargas.com/podcasts/whytimemanagementisirrelevant/feed/ 4 3:40 In this podcast, Ricardo talks about time management in projects, he explains that many people are tied to time management and comments that the delay acts as a thermometer, but it may not necessarily be a problem in time management and it can result in poor management of scope, human resources or other problems that the project manager may not identify. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Silicon Valley in California – USA http://www.ricardo-vargas.com/podcasts/siliconvalley/ http://www.ricardo-vargas.com/podcasts/siliconvalley/#comments Mon, 23 May 2011 03:09:34 +0000 http://www.ricardo-vargas.com/?p=3755 In this podcast, Ricardo talks about his visit to the Silicon Valley and explains the importance of using project management as a success factor in the companies he visited. He also talks about the need for a good basis for study, innovation and competence of people that are working in these companies.

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http://www.ricardo-vargas.com/podcasts/siliconvalley/feed/ 4 8:27 In this podcast, Ricardo talks about his visit to the Silicon Valley and explains the importance of using project management as a success factor in the companies he visited. He also talks about the need for a good basis for study, innovation and competence of people that are working in these companies. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Importance of Volunteer work in the Project Manager Experience http://www.ricardo-vargas.com/podcasts/voluntariado/ http://www.ricardo-vargas.com/podcasts/voluntariado/#comments Tue, 17 May 2011 18:50:54 +0000 http://www.ricardo-vargas.com/?p=3741 In this podcast, Ricardo talks about the importance of volunteering for those starting a career in project management and want to gain experience. He talks of his experience as a volunteer and about how much he learned.

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http://www.ricardo-vargas.com/podcasts/voluntariado/feed/ 8 5:55 In this podcast, Ricardo talks about the importance of volunteering for those starting a career in project management and want to gain experience. He talks of his experience as a volunteer and about how much he learned. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Where do I document the project objective? http://www.ricardo-vargas.com/podcasts/projectobjectives/ http://www.ricardo-vargas.com/podcasts/projectobjectives/#comments Wed, 11 May 2011 00:05:57 +0000 http://www.ricardo-vargas.com/?p=3727 In this podcast, Ricardo talks about the project objectives and in which document it should be written. He explains that the Project Charter is the document where the project is born and the Scope Statement is a response to the Project Charter and is where the work being done is more detailed.

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http://www.ricardo-vargas.com/podcasts/projectobjectives/feed/ 6 3:33 In this podcast, Ricardo talks about the project objectives and in which document it should be written. He explains that the Project Charter is the document where the project is born and the Scope Statement is a response to the Project Charter and is where the work being done is more detailed. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Understanding the Stakeholder Analysis http://www.ricardo-vargas.com/podcasts/stakeholder-analysis/ http://www.ricardo-vargas.com/podcasts/stakeholder-analysis/#comments Tue, 03 May 2011 02:29:16 +0000 http://www.ricardo-vargas.com/?p=3705 In this podcast, Ricardo talks about the stakeholder analysis and the types of interest they may have in the project. He explains that stakeholders will have a positive interest or negative interest in the project. Under this approach, he talks of levels of interest, showing who the people are more interested and how the manager should involve them in the project.

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http://www.ricardo-vargas.com/podcasts/stakeholder-analysis/feed/ 8 7:14 In this podcast, Ricardo talks about the stakeholder analysis and the types of interest they may have in the project. He explains that stakeholders will have a positive interest or negative interest in the project. Under this approach, he talks of levels of interest, showing who the people are more interested and how the manager should involve them in the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Is it worth it to be a Project Manager? http://www.ricardo-vargas.com/polls/is-it-worth-it-to-be-a-project-manager/ http://www.ricardo-vargas.com/polls/is-it-worth-it-to-be-a-project-manager/#comments Sun, 01 May 2011 02:55:49 +0000 http://567734522 Listen below the podcast which was a result of this poll.

In this podcast, Ricardo reflects on the profession of project management and talks about three links that the project manager needs to build during his career to make the profession worthwhile for him to society and to the company. He comments that the project manager needs to prepare like any other profession and that the path to becoming a great project manager is not simple.

Poll Results

chart Is it worth it to be a Project Manager

Results Analysis

In this survey, with 413 participants, the result in favor of project management was overwhelming. 70% of participants believe that project management is an extremely promising career. Only 4% said the opposite.

Of course this result is directly related to people’s expectations. As my site discusses project management, it is obvious that the majority of participants visit the site because they are interested in project management and think this is a promising career. Those who don’t agree with this, probably, won’t even log in to answer the enquiry.

Personally, I think this is a good result and it is within my expectations. Of course I may sound biased saying that its worth or not to be a project manager. My life is totally connected to this subject for many years. But now I would suggest caution. As I said, and reinforced in the podcast I’ve recorded on this subject, the path to success is winding, difficult and risky.

Undoubtedly, project management is a wonderful profession and it can be very promising if properly managed. But we must not forget that is very hard to be a project manager. It is living on a tightrope walking, often without a support and a sponsorship, with a crowd down there, hoping to see you smash on the floor… Of course I don’t need to say that there is no safety net for this tightrope and an error can be fatal.

So let’s not delude ourselves thinking there is an easy result. In this profession, there is no easy way and there is a lot of hard work. And there are things that won’t give you the expected results. Knowing how to choose is a kind of art!

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Is it worth it to be a Project Manager? Part 2 of 2 http://www.ricardo-vargas.com/podcasts/is-it-worth-2-2/ http://www.ricardo-vargas.com/podcasts/is-it-worth-2-2/#comments Mon, 25 Apr 2011 03:05:04 +0000 http://www.ricardo-vargas.com/?p=3696 In this second podcast of the series, Ricardo talks of five links that we need to pursue in our careers to be worthwhile a project manager. This tips that as he explains, are valuable not only for a professional of project management, but for any area.

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http://www.ricardo-vargas.com/podcasts/is-it-worth-2-2/feed/ 13 7:10 In this second podcast of the series, Ricardo talks of five links that we need to pursue in our careers to be worthwhile a project manager. This tips that as he explains, are valuable not only for a professional of project management, but for any area. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Is it worth it to be a Project Manager? Part 1 of 2 http://www.ricardo-vargas.com/podcasts/is-it-worth-1-2/ http://www.ricardo-vargas.com/podcasts/is-it-worth-1-2/#comments Mon, 18 Apr 2011 15:07:56 +0000 http://www.ricardo-vargas.com/?p=3692 In this podcast, Ricardo reflects on the profession of project management and talks about three links that the project manager needs to build during his career to make the profession worthwhile for him to society and to the company. He comments that the project manager needs to prepare like any other profession and that the path to becoming a great project manager is not simple.

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http://www.ricardo-vargas.com/podcasts/is-it-worth-1-2/feed/ 7 7:09 In this podcast, Ricardo reflects on the profession of project management and talks about three links that the project manager needs to build during his career to make the profession worthwhile for him to society and to the company. He comments that the project manager needs to prepare like any other profession and that the path to becoming a great project manager is not simple. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Manager Authority http://www.ricardo-vargas.com/podcasts/pm_authority/ http://www.ricardo-vargas.com/podcasts/pm_authority/#comments Fri, 15 Apr 2011 02:01:51 +0000 http://www.ricardo-vargas.com/?p=3688 In this podcast, Ricardo talks about the authority of the Project Manager. He explains that it is very common in projects where the company has a functional or weak matrix structure, project managers with little authority. Ricardo gives some tips on how to increase the authority in projects

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http://www.ricardo-vargas.com/podcasts/pm_authority/feed/ 8 6:34 In this podcast, Ricardo talks about the authority of the Project Manager. He explains that it is very common in projects where the company has a functional or weak matrix structure, project managers with little authority. Ricardo gives some tips on how to increase the authority in projects Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The schedule and Parkinson’s Law http://www.ricardo-vargas.com/podcasts/parkinson/ http://www.ricardo-vargas.com/podcasts/parkinson/#comments Mon, 04 Apr 2011 03:05:36 +0000 http://www.ricardo-vargas.com/?p=3681 In this podcast, Ricardo explains the concept of “Parkinson’s Law” on projects and how to prepare a feasible schedule to avoid the law. He gives tips on how to develop work packages to be are easier to measure.

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http://www.ricardo-vargas.com/podcasts/parkinson/feed/ 8 4:09 In this podcast, Ricardo explains the concept of "Parkinson's Law" on projects and how to prepare a feasible schedule to avoid the law. He gives tips on how to develop work packages to be are easier to measure. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Procurement Management and Claims http://www.ricardo-vargas.com/podcasts/procurement-management-claims/ http://www.ricardo-vargas.com/podcasts/procurement-management-claims/#comments Thu, 31 Mar 2011 01:59:38 +0000 http://www.ricardo-vargas.com/?p=3676 In this podcast, Ricardo talks about the relationship between suppliers and customers, the process of procurement management and claims. He explains that often the claim generates a discomfort between the parties and that the best way to avoid this problem is to plan the project in the best possible way, defining in detail the scope and trying to document all the changes during the project.

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http://www.ricardo-vargas.com/podcasts/procurement-management-claims/feed/ 7 6:24 In this podcast, Ricardo talks about the relationship between suppliers and customers, the process of procurement management and claims. He explains that often the claim generates a discomfort between the parties and that the best way to avoid this problem is to plan the project in the best possible way, defining in detail the scope and trying to document all the changes during the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
What is Possible to Learn in Risk Management from the Tragedy in Japan http://www.ricardo-vargas.com/podcasts/japan-earthquake/ http://www.ricardo-vargas.com/podcasts/japan-earthquake/#comments Tue, 22 Mar 2011 02:45:46 +0000 http://www.ricardo-vargas.com/?p=3661 In this podcast, Ricardo talks about the earthquake and tsunami occurred in Japan with regards to project risk management. He explains that any given risk has a probability greater than zero and less than 100%. Ricardo mentions that this earthquake was  above any risk evaluation that had been established so far, and cites the atomic power plant in Fukushima as an example, which had very high and strong walls but have been nonetheless destroyed by the tsunami.

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http://www.ricardo-vargas.com/podcasts/japan-earthquake/feed/ 3 7:16 In this podcast, Ricardo talks about the earthquake and tsunami occurred in Japan with regards to project risk management. He explains that any given risk has a probability greater than zero and less than 100%. Ricardo mentions that this earthquake was  above any risk evaluation that had been established so far, and cites the atomic power plant in Fukushima as an example, which had very high and strong walls but have been nonetheless destroyed by the tsunami. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
PMI Agile Certification http://www.ricardo-vargas.com/podcasts/pmi-agile-certification/ http://www.ricardo-vargas.com/podcasts/pmi-agile-certification/#comments Mon, 14 Mar 2011 03:10:02 +0000 http://www.ricardo-vargas.com/?p=3650 In this podcast, Ricardo talks about the new certification – PMI Agile Certification. He explains that Agile is a work philosophy based on strong collaboration of people. Ricardo also says that PMI has a set of best practices for managing projects, and the most important is choose the best to manage each project.

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http://www.ricardo-vargas.com/podcasts/pmi-agile-certification/feed/ 10 6:23 In this podcast, Ricardo talks about the new certification - PMI Agile Certification. He explains that Agile is a work philosophy based on strong collaboration of people. Ricardo also says that PMI has a set of best practices for managing projects, and the most important is choose the best to manage each project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Crisis Management: 5 Good Thinks Came out as Decisions to Remove People from Libya http://www.ricardo-vargas.com/podcasts/crisis-management/ http://www.ricardo-vargas.com/podcasts/crisis-management/#comments Thu, 10 Mar 2011 22:19:11 +0000 http://www.ricardo-vargas.com/?p=3647 In this podcast, Ricardo talks about the removal of foreign professionals who were in Libya when the political crisis happened. He explained that this was a crisis situation, where changes and variations in the environment are not supported and you have to take an action that is unusual. Ricardo says that this work of removal was extremely successful and gives five tips for managing crises in projects.

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http://www.ricardo-vargas.com/podcasts/crisis-management/feed/ 4 7:59 In this podcast, Ricardo talks about the removal of foreign professionals who were in Libya when the political crisis happened. He explained that this was a crisis situation, where changes and variations in the environment are not supported and you have to take an action that is unusual. Ricardo says that this work of removal was extremely successful and gives five tips for managing crises in projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Negotiating with the Sponsor http://www.ricardo-vargas.com/podcasts/negotiating-with-sponsor/ http://www.ricardo-vargas.com/podcasts/negotiating-with-sponsor/#comments Mon, 28 Feb 2011 03:10:39 +0000 http://www.ricardo-vargas.com/?p=3591 In this podcast, Ricardo talks about how the negotiation between the project manager and sponsor, which is often difficult and requires a different dynamic than usual. He explains that this negotiation is not competitive but collaborative, as both the project manager and the sponsor are working to project success.

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http://www.ricardo-vargas.com/podcasts/negotiating-with-sponsor/feed/ 4 6:43 In this podcast, Ricardo talks about how the negotiation between the project manager and sponsor, which is often difficult and requires a different dynamic than usual. He explains that this negotiation is not competitive but collaborative, as both the project manager and the sponsor are working to project success. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Prepare Executive Status Reports – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/status-report-2-2/ http://www.ricardo-vargas.com/podcasts/status-report-2-2/#comments Mon, 21 Feb 2011 03:10:51 +0000 http://www.ricardo-vargas.com/?p=3584 In this second podcast of the series, Ricardo gives some tips on how to prepare an excellent status report. He explains that the great secret of the report is the ability to condense informations into a small and precise report, which usually can be 6 to 10 pages, trying to present visual data, colors, larger letters and graphics with performance information.

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http://www.ricardo-vargas.com/podcasts/status-report-2-2/feed/ 10 7:32 In this second podcast of the series, Ricardo gives some tips on how to prepare an excellent status report. He explains that the great secret of the report is the ability to condense informations into a small and precise report, which usually can be 6 to 10 pages, trying to present visual data, colors, larger letters and graphics with performance information. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Prepare Executive Status Reports – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/status-report-1-2/ http://www.ricardo-vargas.com/podcasts/status-report-1-2/#comments Mon, 14 Feb 2011 03:10:39 +0000 http://www.ricardo-vargas.com/?p=3578 In this first podcast of a series of two, Ricardo talks about how an executive status report must be submitted, showing condensed information relevant to the sponsor and key project stakeholders. He explains that visual information is of great importance and that the report needs to have a pattern, without necessarily being presented in only a page.

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http://www.ricardo-vargas.com/podcasts/status-report-1-2/feed/ 14 5:13 In this first podcast of a series of two, Ricardo talks about how an executive status report must be submitted, showing condensed information relevant to the sponsor and key project stakeholders. He explains that visual information is of great importance and that the report needs to have a pattern, without necessarily being presented in only a page. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Defining Project Success – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/project-success-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/project-success-part-2-of-2/#comments Sun, 06 Feb 2011 03:00:34 +0000 http://www.ricardo-vargas.com/?p=3568 In this second podcast of the series, Ricardo talks about the success in projects from the perspective of the sponsor or the executive. He explains that the project must be aligned with the company’s strategic planning, generate strategic benefits, financial results and that these benefits should be defined at the initiation of the project.

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http://www.ricardo-vargas.com/podcasts/project-success-part-2-of-2/feed/ 9 5:59 In this second podcast of the series, Ricardo talks about the success in projects from the perspective of the sponsor or the executive. He explains that the project must be aligned with the company's strategic planning, generate strategic benefits, financial results and that these benefits should be defined at the initiation of the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Defining Project Success – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/success/ http://www.ricardo-vargas.com/podcasts/success/#comments Mon, 31 Jan 2011 03:00:09 +0000 http://www.ricardo-vargas.com/?p=3553 In this podcast Ricardo discusses the importance of characterizing the successful execution of a project by the regularity and precision of results and not by overcoming the plan. The project plan should be implemented and not necessarily overcome. The worries with deadlines and challenging costs should be part of initial planning and not part of the project execution. Part 1 of 2.

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http://www.ricardo-vargas.com/podcasts/success/feed/ 15 5:18 In this podcast Ricardo discusses the importance of characterizing the successful execution of a project by the regularity and precision of results and not by overcoming the plan. The project plan should be implemented and not necessarily overcome. The worries with deadlines and challenging costs should be part of initial planning and not part of the project execution. Part 1 of 2. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Which of these do you consider more complex mega projects being executed in terms of project management in Brazil? http://www.ricardo-vargas.com/polls/which-of-these-do-you-consider-more-complex/ http://www.ricardo-vargas.com/polls/which-of-these-do-you-consider-more-complex/#comments Sat, 29 Jan 2011 02:19:37 +0000 http://560873538

Poll Results

chart_megaprojects

Results Analysis

The results are evenly distributed among the four mega-projects. None of them showed a pronounced distinction on the others. However, it is surprising to note that only 18% of participants considered the Olympics of 2016 in Rio de Janeiro as the most complex of them and that the World Cup of Soccer had been the leader in this poll with 32% of the votes.

Before discussing this contrast, it is important to understand what we consider as complexity in a project. Complexity is the intensity of work, besides cultural, geographical, legal, social challenges among many others. Of course there is no meter-tape to measure this, a kind of “complexometer”, which allows comparing unique things. But we must have some criteria to define what is complex.

In my point of view, the Olympics and the Pre-Salt exploration are, by far, the most complex projects that we undertake in Brazil. And, also, the World Cup would be the last. And why my opinion is different from a result on which 357 people from many areas opined?

Well, let’s go to the answers.

World Cup

In my opinion, the World Cup is the first of these events to finish and many of the interviewees used the term “Urgency” as a translation for “Complexity” This is also the project in evidence in media nowadays, attracting more criticism and comments. Of course, we also have a clear public interest caused by the Brazilians love for soccer.

But if we look at the World Cup, we see that the event brings together 32 teams and that each one has 22 athletes. Imagining that each country will take about 50 other professionals, we have a delegation of 72 people involved and a universe of less than 2,500 people. They are going to be distributed in 11 cities and there is just one sport as a target.

Olympic Games

Moreover, the Olympic Games bring together more than 10,000 athletes, technical committees, etc. Furthermore, we have a lot of sports being practiced in different locations and each of them has different needs. Finally, we have it all being held in Rio de Janeiro that, by itself, without the Games, already has a lot of challenges related to urban mobility and security.

Pre-Salt

If investment is the criterion that defines complexity, there is only one project to consider here. It is impossible to compare any investment to the Pre-Salt. We are talking about more than a hundred billion dollars invested in the next 15 or 20 years.

Amazon Basin

If the criterion is environmental or cultural, we can choose the hydroelectric stations in the Amazon Basin. Giant projects are being carried out in an area with all sorts of possible environmental challenges. And these environmental challenges, coupled with the lack of skilled workforce, increase the complexity of these projects.

Ranking

Well, as we can see, all the four projects present a huge complexity, but if I could do a “personal” ranking of them, subject to criticism, I would put them in the following order:

  • Level 1 – Olympic Games and Pre-Salt
  • Level 2 – Hydroelectric stations in the Amazon Basin
  • Level 3 – World Cup (a close second to the hydroelectric stations in the Amazon Basin)

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How Different People See the Risk in Different Ways http://www.ricardo-vargas.com/podcasts/riskatitude/ http://www.ricardo-vargas.com/podcasts/riskatitude/#comments Tue, 25 Jan 2011 22:15:15 +0000 http://www.ricardo-vargas.com/?p=3539 In this podcast, Ricardo explains that the degree of risk exposure is the composition of the impact and severity of risk and that the definition of degree as high, medium or low involves the experience, culture, fears and emotions of those who are evaluating. He gives some tips on how to assess risk in an impartial manner.

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http://www.ricardo-vargas.com/podcasts/riskatitude/feed/ 5 7:11 In this podcast, Ricardo explains that the degree of risk exposure is the composition of the impact and severity of risk and that the definition of degree as high, medium or low involves the experience, culture, fears and emotions of those who are evaluating. He gives some tips on how to assess risk in an impartial manner. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Percent Complete Problem http://www.ricardo-vargas.com/podcasts/percent-complete/ http://www.ricardo-vargas.com/podcasts/percent-complete/#comments Mon, 17 Jan 2011 22:25:22 +0000 http://www.ricardo-vargas.com/?p=3529 In this podcast, Ricardo talks about the most common mistakes people make when calculating the percentage of completion of a phase or activity group in the schedule. He explains that when calculating this percentage, we need to consider the total duration of phase or group and the worked hours.

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http://www.ricardo-vargas.com/podcasts/percent-complete/feed/ 4 7:02 In this podcast, Ricardo talks about the most common mistakes people make when calculating the percentage of completion of a phase or activity group in the schedule. He explains that when calculating this percentage, we need to consider the total duration of phase or group and the worked hours. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Tribute to Gregory Balestrero that Leaves PMI After 8 Years of Leadership http://www.ricardo-vargas.com/podcasts/greg/ http://www.ricardo-vargas.com/podcasts/greg/#comments Mon, 10 Jan 2011 03:00:39 +0000 http://www.ricardo-vargas.com/?p=3525 In this podcast Ricardo Vargas pays tribute to Greg Balestrero, President and CEO of PMI. He highlights Greg’s dedication and commitment to PMI during his 8 years as the institution’s main executive, leading the world’s most important organization dedicated to project management. Ricardo also emphasizes the transition of the Institute’s new executive leader, Mark Langley, who takes over as President and CEO in 2011.

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http://www.ricardo-vargas.com/podcasts/greg/feed/ 1 6:49 In this podcast Ricardo Vargas pays tribute to Greg Balestrero, President and CEO of PMI. He highlights Greg's dedication and commitment to PMI during his 8 years as the institution's main executive, leading the world's most important organization dedicated to project management. Ricardo also emphasizes the transition of the Institute's new executive leader, Mark Langley, who takes over as President and CEO in 2011. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Perspectives for 2011 http://www.ricardo-vargas.com/podcasts/perspectives-for-2011/ http://www.ricardo-vargas.com/podcasts/perspectives-for-2011/#comments Mon, 03 Jan 2011 03:49:10 +0000 http://www.ricardo-vargas.com/?p=3521 In this podcast, Ricardo talks about the opportunities for project management that will happen in 2011. He explains that in Brazil will be many opportunities in the areas of infrastructure, engineering, energy, oil and mining. Ricardo also reinforces that there is a shortage of skilled project managers in Brazil and that the highly qualified foreign competitors are coming in search of opportunities here.

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http://www.ricardo-vargas.com/podcasts/perspectives-for-2011/feed/ 1 6:12 In this podcast, Ricardo talks about the opportunities for project management that will happen in 2011. He explains that in Brazil will be many opportunities in the areas of infrastructure, engineering, energy, oil and mining. Ricardo also reinforces that there is a shortage of skilled project managers in Brazil and that the highly qualified foreign competitors are coming in search of opportunities here. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Retrospective 2010 http://www.ricardo-vargas.com/podcasts/retrospective-2010/ http://www.ricardo-vargas.com/podcasts/retrospective-2010/#comments Mon, 27 Dec 2010 03:49:36 +0000 http://www.ricardo-vargas.com/?p=3518 In this podcast, Ricardo talks about the main events of 2010 and the opportunities for project management. He explains that 2010 was a year marked by instability with the electoral process in Brazil and at the U.S. Congress and the fluctuation in world financial markets. Ricardo also talks about the growth of social networks, Wikileaks and the value of information.

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http://www.ricardo-vargas.com/podcasts/retrospective-2010/feed/ 1 5:28 In this podcast, Ricardo talks about the main events of 2010 and the opportunities for project management. He explains that 2010 was a year marked by instability with the electoral process in Brazil and at the U.S. Congress and the fluctuation in world financial markets. Ricardo also talks about the growth of social networks, Wikileaks and the value of information. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Importance of Monitoring and Controlling Risks http://www.ricardo-vargas.com/podcasts/riskmonitoring/ http://www.ricardo-vargas.com/podcasts/riskmonitoring/#comments Mon, 20 Dec 2010 03:00:30 +0000 http://www.ricardo-vargas.com/?p=3516 In this podcast Ricardo discusses the importance of monitoring and controlling the risks. He says that the risks are “alive” and that monitoring is the only guarantee that the response will be really effective.

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http://www.ricardo-vargas.com/podcasts/riskmonitoring/feed/ 7 6:36 In this podcast Ricardo discusses the importance of monitoring and controlling the risks. He says that the risks are "alive" and that monitoring is the only guarantee that the response will be really effective. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Feedback in Communications Management http://www.ricardo-vargas.com/podcasts/feedback_communications/ http://www.ricardo-vargas.com/podcasts/feedback_communications/#comments Mon, 13 Dec 2010 03:00:00 +0000 http://www.ricardo-vargas.com/?p=3513 In this podcast Ricardo discusses the importance of the feedback during the project communications. He approaches the “screen” concept regarding personality and perception and that understanding the cultural and social differences can influence directly the project results.

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http://www.ricardo-vargas.com/podcasts/feedback_communications/feed/ 1 6:02 In this podcast Ricardo discusses the importance of the feedback during the project communications. He approaches the "screen" concept regarding personality and perception and that understanding the cultural and social differences can influence directly the project results. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
200th Podcast – Soccerex in Rio de Janeiro http://www.ricardo-vargas.com/podcasts/soccerex/ http://www.ricardo-vargas.com/podcasts/soccerex/#comments Tue, 07 Dec 2010 03:01:49 +0000 http://www.ricardo-vargas.com/?p=3495 In this podcast, Ricardo talks about the Soccerex – the largest convention and business of football in world, which was held in Rio de Janeiro between 20-24 November. He was invited to attend the event and had the opportunity to talk about some key issues for planning the 2014 soccer cup. Ricardo reminded that the works for the World Cup will be competing with the pre-salt, construction of hydroelectric, PAC and they will miss the entire human resources to meet this demand. Ricardo also said that the works for the crown in 2014 will not only reforms in stages, is a much more extensive since it involves infrastructure, transmission, data link training to taxi drivers in the English language.

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http://www.ricardo-vargas.com/podcasts/soccerex/feed/ 1 7:51 In this podcast, Ricardo talks about the Soccerex - the largest convention and business of football in world, which was held in Rio de Janeiro between 20-24 November. He was invited to attend the event and had the opportunity to talk about some key issues for planning the 2014 soccer cup. Ricardo reminded that the works for the World Cup will be competing with the pre-salt, construction of hydroelectric, PAC and they will miss the entire human resources to meet this demand. Ricardo also said that the works for the crown in 2014 will not only reforms in stages, is a much more extensive since it involves infrastructure, transmission, data link training to taxi drivers in the English language. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Seizure of the Alemao Complex in Rio de Janeiro under the Project Management Perspective http://www.ricardo-vargas.com/podcasts/rio_crisis/ http://www.ricardo-vargas.com/podcasts/rio_crisis/#comments Mon, 29 Nov 2010 03:00:11 +0000 http://www.ricardo-vargas.com/?p=3492 In this podcast Ricardo discusses the project and crisis management to seize the Alemão (German) Complex in Rio de Janeiro-Brazil, one of the most violent slums, dominated by drug dealers and gangs. He discusses the coordination of actions, speed and strategy in the successful management of the crisis.

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http://www.ricardo-vargas.com/podcasts/rio_crisis/feed/ 9 6:39 In this podcast Ricardo discusses the project and crisis management to seize the Alemão (German) Complex in Rio de Janeiro-Brazil, one of the most violent slums, dominated by drug dealers and gangs. He discusses the coordination of actions, speed and strategy in the successful management of the crisis. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Paul McCartney Concert in Sao Paulo and Project Management for Mega Events. http://www.ricardo-vargas.com/podcasts/paul-mccartney-concert/ http://www.ricardo-vargas.com/podcasts/paul-mccartney-concert/#comments Tue, 23 Nov 2010 23:08:39 +0000 http://www.ricardo-vargas.com/?p=3482 In this podcast, Ricardo talks about the production of mega events in viewpoint of project management, and uses as an example Paul McCartney’s concert that he attended last Sunday.
He shows the complexity to perform a concert where there will be 65,000 people watching and the activities needed to realize the show.
Ricardo made the first version (draft) of an WBS for mega events that is in the download area, check out the link: http://www.ricardo-vargas.com/downloads/

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http://www.ricardo-vargas.com/podcasts/paul-mccartney-concert/feed/ 4 6:26 In this podcast, Ricardo talks about the production of mega events in viewpoint of project management, and uses as an example Paul McCartney's concert that he attended last Sunday. He shows the complexity to perform a concert where there will be 65,000 people watching and the activities needed to realize the show. Ricardo made the first version (draft) of an WBS for mega events that is in the download area, check out the link: http://www.ricardo-vargas.com/downloads/ Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
CAPM Certification Part 2 of 2 http://www.ricardo-vargas.com/podcasts/capm-certification-2-of-2/ http://www.ricardo-vargas.com/podcasts/capm-certification-2-of-2/#comments Mon, 15 Nov 2010 03:28:22 +0000 http://www.ricardo-vargas.com/?p=3441 In this second podcast of series CAPM, Ricardo talks about the test and certification process. He explains that the test has 150 questions and the CAPM credential is valid for five years, Ricardo also talks of the most knowledge areas charged in the test.

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http://www.ricardo-vargas.com/podcasts/capm-certification-2-of-2/feed/ 14 7:39 In this second podcast of series CAPM, Ricardo talks about the test and certification process. He explains that the test has 150 questions and the CAPM credential is valid for five years, Ricardo also talks of the most knowledge areas charged in the test. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
CAPM Certification Part 1 of 2 http://www.ricardo-vargas.com/podcasts/capm-certification-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/capm-certification-part-1-of-2/#comments Mon, 08 Nov 2010 03:28:30 +0000 http://www.ricardo-vargas.com/?p=3430 In this first podcast of the series, Ricardo talks about the importance of CAPM certification (Certified Associate in Project Management) and for whom it is directed. He explains that this certification is intended to complement the skills of the project team, but can help sponsors better understand the universe of projects. Ricardo also talks of the main functions of the professional certified in CAPM.

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http://www.ricardo-vargas.com/podcasts/capm-certification-part-1-of-2/feed/ 11 5:25 In this first podcast of the series, Ricardo talks about the importance of CAPM certification (Certified Associate in Project Management) and for whom it is directed. He explains that this certification is intended to complement the skills of the project team, but can help sponsors better understand the universe of projects. Ricardo also talks of the main functions of the professional certified in CAPM. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the 5th Brazilian Project Management Congress http://www.ricardo-vargas.com/podcasts/5cbgp/ http://www.ricardo-vargas.com/podcasts/5cbgp/#comments Mon, 01 Nov 2010 03:00:30 +0000 http://www.ricardo-vargas.com/?p=3403 In this podcast Ricardo discuss the highlights of the 5th Brazilian Project Management Congress that happened in Brasilia-DF – Brazil on October 27th to 29th (#5cbgp)

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http://www.ricardo-vargas.com/podcasts/5cbgp/feed/ 1 6:24 In this podcast Ricardo discuss the highlights of the 5th Brazilian Project Management Congress that happened in Brasilia-DF - Brazil on October 27th to 29th (#5cbgp) Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from PMI Global Congress 2010 – Part 2/2 http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2010-part-22/ http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2010-part-22/#comments Mon, 25 Oct 2010 03:00:30 +0000 http://www.ricardo-vargas.com/?p=3390 In this second series about the PMI Global Congress, Ricardo talks about the presentations that have happened and major focus. He explains that the congress brought 2,800 people from 64 countries and Brazil was the fourth country with the largest representation in the congress, behind only the United States, Canada and Japan. At the event happened 80 presentations and one of the most talked about was the concept of agile methodologies, and other topics such as virtual teams and negotiation. Ricardo presented a technical paper about selection criteria of projects using AHP and in the next day a team from Petrobras presented a case study about selecting projects. See the paper at: http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/

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http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-2010-part-22/feed/ 4 6:52 In this second series about the PMI Global Congress, Ricardo talks about the presentations that have happened and major focus. He explains that the congress brought 2,800 people from 64 countries and Brazil was the fourth country with the largest representation in the congress, behind only the United States, Canada and Japan. At the event happened 80 presentations and one of the most talked about was the concept of agile methodologies, and other topics such as virtual teams and negotiation. Ricardo presented a technical paper about selection criteria of projects using AHP and in the next day a team from Petrobras presented a case study about selecting projects. See the paper at: http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/ Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Rescue of Mining Workers in Chile: A Project Management Show http://www.ricardo-vargas.com/podcasts/rescue-of-mining-workers-in-chile/ http://www.ricardo-vargas.com/podcasts/rescue-of-mining-workers-in-chile/#comments Mon, 18 Oct 2010 01:53:59 +0000 http://www.ricardo-vargas.com/?p=3369 In this podcast, Ricardo talks about the rescue of 33 mining workers in Chile from the view of project management. He comments that the expectation in realizing the rescue was very bad and the planning of the actions and setting priorities was essential for a successful rescue.
In the next week, Ricardo will publish the second part of the podcast about the Global Congress

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http://www.ricardo-vargas.com/podcasts/rescue-of-mining-workers-in-chile/feed/ 4 6:46 In this podcast, Ricardo talks about the rescue of 33 mining workers in Chile from the view of project management. He comments that the expectation in realizing the rescue was very bad and the planning of the actions and setting priorities was essential for a successful rescue. In the next week, Ricardo will publish the second part of the podcast about the Global Congress Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from PMI Global Congress 2010 – part 1/2 http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-part-12/ http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-part-12/#comments Wed, 13 Oct 2010 21:21:32 +0000 http://www.ricardo-vargas.com/?p=3347 In this podcast, Ricardo talks about the presentation made by Bill Clinton at the Global Congress held in Washington between 9th and 12th October. He explains that Bill Clinton watched a television for the first time when he was 10 years old and before television, he most liked to do was talk. Ricardo talks that Bill Clinton told who is the three people that he most admires and he also adressed the problems faced by poor countries, especially African countries and the major challenges found in Haiti where 17% of the workforce was died in the earthquake.

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http://www.ricardo-vargas.com/podcasts/directly-from-pmi-global-congress-part-12/feed/ 6 7:52 In this podcast, Ricardo talks about the presentation made by Bill Clinton at the Global Congress held in Washington between 9th and 12th October. He explains that Bill Clinton watched a television for the first time when he was 10 years old and before television, he most liked to do was talk. Ricardo talks that Bill Clinton told who is the three people that he most admires and he also adressed the problems faced by poor countries, especially African countries and the major challenges found in Haiti where 17% of the workforce was died in the earthquake. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Using the Analytic Hierarchy Process (AHP) to Select and Prioritize Projects in a Portfolio http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/ http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/#comments Sun, 10 Oct 2010 23:11:50 +0000 http://www.ricardo-vargas.com/?p=3119

Accepted for publication at

PMI Global Congress 2010 – North America
Washington – DC – EUA – 2010

Russian Project Management Conference
(Русская конференция Управление проектами)
Moscow – Russia – 2010

Related Podcasts
  • Demystifying the Portfolio Management – Part 1/3: The Strategy’s Side
    http://rvarg.as/1j
  • Demystifying the Portfolio Management – Part 2/3: The Criteria
    http://rvarg.as/1o
  • Demystifying the Portfolio Management – Part 3/3: A comparison and Decision
    http://rvarg.as/1s
  • Why is so complex to be Simple and Effective during the Project Selection?
    http://rvarg.as/6x
  • Why is it So Hard to Define Clear Criteria for Selecting Projects?
    http://rvarg.as/6c

Abstract

The objective of this paper is to present, discuss and apply the principles and techniques of the Analytic Hierarchy Process (AHP) in the prioritization and selection of projects in a portfolio. AHP is one of the main mathematical models currently available to support the decision theory.

When looking into how organizations decide over which projects to execute, we can notice a constant desire to have clear, objective and mathematical criteria (HAAS & MEIXNER, 2005). However, decision making is, in its totality, a cognitive and mental process derived from the most possible adequate selection based on tangible and intangible criteria (SAATY, 2009), which are arbitrarily chosen by those who make the decisions.

This paper also discusses the importance and some possible criteria for prioritizing projects, and by using a fictitious project prioritization example, it demonstrates AHP in a step-by-step manner, where the resulting priorities are shown and the possible inconsistencies are determined.

The importance of project selection and prioritization

One of the main challenges that organizations face today resides in their ability to choose the most correct and consistent alternatives in such a way that strategic alignment is maintained. Given any specific situation, making the right decisions is probably one of the most difficult challenges for science and technology (TRIANTAPHYLLOU, 2002).

When we consider the ever changing dynamics of the current environment like we have never seen before, making the right choices based on adequate and aligned objectives constitutes a critical factor, even for organizational survival.

Basically the prioritization of projects in a portfolio is nothing more than an ordering scheme based on a benefit cost relationship of each project. Projects with higher benefits, when compared to their costs, will have a higher priority. It’s important to observe that a benefit cost relationship does not necessarily mean the use of exclusive financial criteria like the widely known benefit cost ratio, but instead a broader concept of the reaped benefits from executing the project and their related efforts.

Since organizations belong to a complex and varying context, often times even chaotic, the challenge of the aforementioned definition resides exactly in determining what are costs and benefits to any given organization.

Possible Definitions for Low Costs

Possible Definitions for High Benefits

Cheaper

More profitable

Less resource needs

Greater return of investment

Easier to be executed

Increase in the number of customers

Less complex

Increase in competitiveness

Less internal resistance

Improvements for the society

Less bureaucratic

Increase in Market Share

Less risks (threats)

Executives and shareholders happier

When analyzing the above table, one can observe that the different dimensions demonstrate how complex it is to come up with an exact translation for the meaning of low cost and high benefits. That is the reason why a unique criterion or translation is not viable enough to determine which project(s) should or should not be executed. Thus it is necessary to employ a multi-criteria analysis (TRIANTAPHYLLOU, 2002) which allows for decisions while taking into consideration the different dimensions and organizational needs altogether.

PMI’s Standard for Portfolio Management (PMI, 2008) says that the scope of a project portfolio must stem from the strategic objectives of the organization. These objectives must be aligned with the business scenario which in turn may be different for each organization. Consequently, there is no perfect model that covers the right criteria to be used for any type of organization when prioritizing and selecting its projects. The criteria to be used by the organization should be based on the values and preferences of its decision makers.

Current criteria used in the prioritization of projects

Although decisions are based on values and preferences of the decision makers, a set of criteria or specific objectives can be used while prioritizing projects and determining the real meaning of an optimal relationship between benefits and costs.

The main criteria groups are:

Financial – A group of criteria with the objective of capturing the financial benefits of projects. They are directly associated with costs, productivity and profit measures. A few examples are:

  • Return on Investment (ROI) – It is the percentage of the profit margin of the project. It allows comparing the financial return of projects with different investments and profits.
  • Profit (currency) – The value (in currency) of the financial profit gained by the project. A project may have a smaller ROI but its nominal profit can be bigger.
  • Net Present Value (NPV) – It is the difference between the project benefits and costs taking into consideration that all incomes and expenses are converted to be realized in the current date. In order to do so, it is necessary to bring all future values to the current date by using a given interest rate. That allows the assessment and comparison between projects which have future incomes and expenses from different time periods.
  • Payback – It is the number of time in periods necessary to recover all of the original project investments.
  • Financial Benefit / Cost Rate – It is the ratio between the present value of the benefits and the present value of the costs. The higher the ratio, the more viable is the project under the perspective of benefit/costs.

Strategic – A group of criteria directly associated with the strategic objectives of the organization. The strategic criteria/objectives are determined by methods used to cascade corporate strategy like the Balanced Scorecard. They differ from the financial criteria because strategic criteria are specific for any organization. Organizations with different strategies will certainly have different prioritization criteria. Some examples may be to increase the capacity to compete in international markets, to use eco-friendly practices, to optimize internal processes, to cut expenses in comparison with benchmarking competitors, to improve the reputation of products and services, etc.

Risks (Threats) – It determines the level of risk tolerance that an organization accepts to execute a project. The threat-based risk assessment criteria can also incorporate the assessment of opportunities (HILSON, 2003). However, often times the assessment of opportunities that a project can yield are already covered and taken care of by the strategic criteria. Another equally possible perspective for this criterion entangles the organizational risk of not undertaking the project.

Urgency – It determines the urgency level of the project. Projects considered to be urgent require immediate decision and action, and so they have a higher priority than projects that are not urgent.

Stakeholder commitment – A group of criteria that aims to assess the level of stakeholder commitment towards the project. The higher the commitment to the project, the higher priority the project receives. Commitment may be assessed in a broad manner where all stakeholders are considered as a unique group, or it can be decomposed into different stakeholder groups, like for example:

  • Customer commitment
  • Community commitment
  • Organizational commitment
  • Regulatory bodies
  • Project team commitment
  • Project manager commitment

Technical Knowledge – It assesses the technical knowledge necessary to execute the project. The more technical knowledge readily available, the easier will it be to execute any given project and, consequently, it will cause the project to use fewer resources. It is important to note that, if it is necessary to establish criteria or objectives related to the learning and growth process, these criteria need to be associated with the organization’s strategic criteria, and not with any technical knowledge.

Analytic Hierarchy Process

The multi-criteria programming made through the use of the Analytic Hierarchy Process is a technique for decision making in complex environments where many variables or criteria are considered in the prioritization and selection of alternatives or projects.

AHP was developed in the 70’s by Thomas L. Saaty and has been since then extensively studied, being currently used in decision making for complex scenarios, where people work together to make decisions when human perceptions, judgments and consequences have a long term repercussion (BHUSHAN & RAI, 2004).

The application of AHP begins with a problem being decomposed into a hierarchy of criteria so as to be more easily analyzed and compared in an independent manner (Figure 1). After this logical hierarchy is constructed, the decision makers can systematically assess the alternatives by making pair-wise comparisons for each of the chosen criteria. This comparison may use concrete data from the alternatives or human judgments as a way to input subjacent information (SAATY, 2008).

3104.pngFigure 1 – Example of a hierarchy of criteria/objectives

AHP transforms the comparisons, which are most of the times empirical, into numeric values that are further processed and compared. The weight of each factor allows the assessment of each one of the elements inside the defined hierarchy. This capability of converting empirical data into mathematical models is the main distinctive contribution of the AHP technique when contrasted to other comparing techniques.

After all comparisons have been made, and the relative weights between each one of the criteria to be evaluated have been established, the numerical probability of each alternative is calculated. This probability determines the likelihood that the alternative has to fulfill the expected goal. The higher the probability, the better chances the alternative has to satisfy the final goal of the portfolio.

The mathematical calculation involved in the AHP process may at first seem simple, but when dealing with more complex cases, the analyses and calculations become deeper and more exhaustive.

The comparison scale (Saaty scale)

The comparison between two elements using AHP can be done in different ways (TRIANTAPHYLLOU & MANN, 1995). However, the relative importance scale between two alternatives suggested by Saaty (SAATY, 2005) is the most widely used. Attributing values that vary from 1 to 9, the scale determines the relative importance of an alternative when compared to another alternative, as we can see in Table 1.

Scale

Numerical Rating

Reciprocal

Extremely Preferred

9

1/9

Very strong to extremely

8

1/8

Very strongly preferred

7

1/7

Strongly to very strongly

6

1/6

Strongly preferred

5

1/5

Moderately to strongly

4

¼

Moderately preferred

3

1/3

Equally to moderately

2

½

Equally preferred

1

1

It is common to always use odd numbers from the table to make sure there is a reasonable distinction among the measurement points. The use of even numbers should only be adopted if there is a need for negotiation between the evaluators. When a natural consensus cannot be reached, it raises the need to determine a middle point as the negotiated solution (compromise) (SAATY, 1980).

The comparison matrix is constructed from the Saaty scale (Table 2).

Criteria 1

Criteria 2

Criteria 1

1

Numerical Rating

Criteria 2

1/Numerical Rating (Reciprocal)

1

An example of the application of AHP in a portfolio

In order to serve as an example of the AHP calculations for a prioritization of projects, the development of a fictitious decision model for the ACME Organization has been chosen. As the example is further developed, the concepts, terms and approaches to AHP will be discussed and analyzed.

The first step to build the AHP model lies in the determination of the criteria that will be used. As already mentioned, each organization develops and structures its own set of criteria, which in turn must be aligned to the strategic objectives of the organization.

For our fictitious ACME organization, we will assume that a study has been made together with the Finance, Strategy Planning and Project Management areas on the criteria to be used. The following set of 12 (twelve) criteria has been accepted and grouped into 4 (four) categories, as shown on the hierarchy depicted in Figure 2.

image002.pngFigure 2 – Hierarchy of Criteria for the fictitious ACME organization

Determining the comparison matrix, the priority vector (Eigen) and the inconsistency

After the hierarchy has been established, the criteria must be evaluated in pairs so as to determine the relative importance between them and their relative weight to the global goal.

The evaluation begins by determining the relative weight of the initial criteria groups (Figure 3). Table 3 shows the relative weight data between the criteria that have been determined by ACME’s decision makers.

image003.png

Figure 3 – ACME’s initial group of criteria/objectives

Stakeholders C

Financial

Strategic

Other Criteria

Stakeholders C

1

1/5

1/9

1

Financial

5

1

1

5

Strategic

9

1

1

5

Other Criteria

1

1/5

1/5

1

In order to interpret and give relative weights to each criterion, it is necessary to normalize the previous comparison matrix. The normalization is made by dividing each table value by the total the total column value (Table 4).

Stakeholders C

Financial

Strategic

Other Criteria

Stakeholders C

1

1/5

1/9

1

Financial

5

1

1

5

Strategic

9

1

1

5

Other Criteria

1

1/5

1/5

1

Total (Sum)

16.00

2.40

2.31

12.00

Results

Stakeholders C

1/16 = 0.063

0.083

0.048

0.083

Financial

5/16 = 0,313

0.417

0.433

0.417

Strategic

9/16 = 0.563

0.417

0.433

0.417

Other Criteria

1/16 = 0.063

0.083

0.087

0.083

The contribution of each criterion to the organizational goal is determined by calculations made using the priority vector (or Eigenvector). The Eigenvector shows the relative weights between each criterion it is obtained in an approximate manner by calculating the arithmetic average of all criteria, as depicted on Exhibit 10. We can observe that the sum of all values from the vector is always equal to one (1).

The exact calculation of the Eigenvector is determined only on specific cases. This approximation is applied most of the times in order to simplify the calculation process, since the difference between the exact value and the approximate value is less than 10% (KOSTLAN, 1991).

Eigenvector (Calculation)

Eigenvector

Stakeholders C

[0.063+0.083+0.048+0.083]/4 =0.0693

0.0693 (6,93%)

Financial

[0.313+0.417+0.433+0.417]/4 =0.3946

0.3946 (39,46%)

Strategic

[0.563+0.417+0.433+0.417]/4 =0.4571

0.4571 (45,71%)

Other Criteria

[0.063+0.083+0.087+0.083]/4 = 0.0789

0.0789 (7,89%)

For comparison purposes, a mathematical software application has been used to calculate the exact value for the Eigenvector through the use of potential matrices. The results are shown on Table 6.

Approximate Eigen Vector

Exact Eigen Vector

Difference (%)

Stakeholders C

0.0693 (6,93%)

0.0684 (6,84%)

0,0009 (1,32%)

Financial

0.3946 (39,46%)

0.3927 (39,27%)

0,0019 (0,48%)

Strategic

0.4571 (45,71%)

0.4604 (46,04%)

0,0033 (0,72%)

Other Criteria

0.0789 (7,89%)

0.0785 (7,85%)

0,0004 (0,51%)

It can be observed that the approximate and exact values are very close to each other, so the calculation of the exact vector requires a mathematical effort that can be exempted (KOSTLAN, 1991).

The values found in the Eigenvector have a direct physical meaning in AHP. They determine the participation or weight of that criterion relative to the total result of the goal. For example, in our ACME organization, the strategic criteria have a weight of 46.04% (exact calculation of the Eigenvector) relative to the total goal. A positive evaluation on this factor contributes approximately 7 (seven) times more than a positive evaluation on the Stakeholder Commitment criterion (weight 6.84%).

The next step is to look for any data inconsistencies. The objective is to capture enough information to determine whether the decision makers have been consistent in their choices (TEKNOMO, 2006). For example, if the decision makers affirm that the strategic criteria are more important than the financial criteria and that the financial criteria are more important than the stakeholder commitment criteria, it would be inconsistent to affirm that the stakeholder commitment criteria are more important than the strategic criteria (if A>B and B>C it would be inconsistent to say that A<C).

The inconsistency index is based on Maximum Eigenvalue, which is calculated by summing the product of each element in the Eigenvector (Table 5) by the respective column total of the original comparison matrix (Table 4). Table 7 demonstrates the calculation of Maximum Eigenvalue (λMax)1

1 The Eigenvector values used from this moment on will be based on the exact values, and not on the approximate values, because the exact values have been calculated and are thus available.

.

Eigenvector

0.0684

0.3927

0.4604

0.0785

Total (Sum)

16.00

2.40

2.31

12.00

Maximum
Eigenvalue (
λMax)

[(0.0684 x 16.00)+(0.3927 x 2.40)+(0.4604 x 2.31) + (0.0785 x 12.00)] = 4.04

5104.png

Where CI is the Consistency Index and n is the number of evaluated criteria.

For our ACME organization, the Consistency Index (CI) is5079.png

In order to verify whether the Consistency Index (CI) is adequate, Saaty (SAATY, 2005) suggests what has been called Consistency Rate (CR), which is
determined by the ratio between the Consistency Index and the Random Consistency Index (RI). The matrix will be considered consistent if the resulting ratio is less than 10%.

The calculation of the Consistency Index (SAATY, 2005) is given by the following formula

5086.png

The RI value is fixed and is based on the number of evaluated criteria, as shown on Table 8.

N

1

2

3

4

5

6

7

8

9

10

RI

0

0

0.58

0.9

1.12

1.24

1.32

1.41

1.45

1.49

For our ACME organization, the Consistency Rate for the initial criteria group is

5091.png

Since its value is less than 10%, the matrix can be considered to be consistent. The priority criteria results for the first level can be seen in Figure 4.

image010.pngFigure 4 – Results of the Comparison Matrix for ACME’s Criteria Group, demonstrating the contribution of each criterion to the goal defined for the organization

By looking at Figure 4 and the Eigenvector values, it is evident that the Strategic Criteria have a contribution of 46.04% to the goal, whereas the Stakeholder Commitment criteria contributes with 6.84% to the goal.

Other calculations involving the chosen criteria

Just like it was done with the initial criteria group for the ACME organization, it is necessary to evaluate the criteria’s relative weights for the second level of the hierarchy (Figure 5). This process is executed just like the step to evaluate the first level of the hierarchy (Criteria Group) as it was shown above.

image012.pngFigure 5 – Hierarchy of criteria for the fictitious ACME organization highlighting the second hierarchy level

The following tables (16 to 19) show the comparison matrices for the criteria with the pair-wise comparisons already taken by the decision makers.

Stakeholders Commitment Criteria

Team Commitment

Organizational Commitment

Project Manager Commitment

Team Commitment

1

3

1/5

Organizational Commitment

1/3

1

1/9

Project Manager Commitment

5

9

1

Financial Criteria

Return of Investment

Profit (US$)

Net Present Value

Return of Investment

1

1/5

1/5

Profit (US$)

5

1

1

Net Present Value

5

1

1

Strategic Criteria

Compete in International Markets

Internal Processes

Reputation

Compete in Intern. Markets

1

7

3

Internal Processes

1/7

1

1/5

Reputation

1/3

5

1

Other Criteria

Lower Risks for the Organization

Urgency

Internal Technical Knowledge

Lower Risks for the Organization

1

5

1/3

Urgency

1/5

1

1/7

Internal Technical Knowledge

3

7

1

The following charts (Figure 20 to 23) demonstrate the priority results for the sub-criteria for each one of the criteria groups2

2 The data have been simulated and calculated using ExpertChoice 11.5 for Windows, available at
www.expertchoice.com

and their respective inconsistency indices. We can observe that none of the criterion demonstrates any inconsistency above tolerable limits.

image014.pngFigure 6 – Priority results for the Stakeholder Commitment Criteria

image016.pngFigure 7 – Priority results for the Financial Criteria

image018.pngFigure 8 – Priority results for the Strategic Criteria

image020.pngFigure 9 – Priority results for the Other Criteria

The global priority for each criterion is determined by the result of the multiplication of each priority on the first level by its respective priority on the second level. The results are shown on the hierarchy depicted on Figure 10. We can also see that the sum of the weights of all twelve (12) factors is equal to 1.

image022.pngFigure 10 – Hierarchy of criteria for the fictitious ACME organization with global priorities for each criterion

Evaluating candidate projects for the portfolio

After having structured the tree and established the priority criteria, it is now possible to determine how each one of the candidate projects fits the chosen criteria. In the same manner that the criteria prioritization has been made, the candidate projects are pair-wisely compared considering every established criteria.

For our ACME organization, six (6) different projects have been identified and must then be prioritized. The fictitious projects are:

  • Move to a new office facility
  • New ERP system
  • Opening of an office in China
  • Development of a new Product aiming at the International Market
  • IT infrastructure Outsourcing
  • New local Marketing Campaign
  • In order to apply AHP, the decision makers from ACME organization have compared six (6) projects taking into consideration every one of the twelve (12) established criteria. The results are shown in the following twelve (12) tables.

Team Commitment

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

5

3

1/3

9

7

ERP Implementation

1/5

1

1/5

1/7

1

1/3

Chinese Office

1/3

5

1

1/3

7

3

International Product

3

7

3

1

5

5

IT Outsourcing

1/9

1

1/7

1/5

1

1/3

New Local Campaign

1/7

3

1/3

1/5

3

1

Organizational Commitment

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

3

1/9

1/5

5

3

ERP Implementation

1/3

1

1/9

1/7

1

1/3

Chinese Office

9

9

1

3

7

7

International Product

5

7

1/3

1

9

7

IT Outsourcing

1/5

1

1/7

1/9

1

1/3

New Local Campaign

1/3

3

1/7

1/7

3

1

Project Manager Commitment

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

7

1/3

1/3

5

3

ERP Implementation

1/7

1

1/9

1/7

3

1/3

Chinese Office

3

9

1

1

7

7

International Product

3

7

1

1

7

9

IT Outsourcing

1/5

1/3

1/7

1/7

1

1/5

New Local Campaign

1/3

3

1/7

1/9

5

1

Return on Investment

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1/3

1/7

1/9

1/3

1/3

ERP Implementation

3

1

1/9

1/9

1/3

1/3

Chinese Office

7

9

1

1/3

7

5

International Product

9

9

3

1

7

5

IT Outsourcing

3

3

1/7

1/7

1

1/3

New Local Campaign

3

3

1/5

1/5

3

1

Profit (US$)

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1

1/7

1/9

1/5

1/3

ERP Implementation

1

1

1/7

1/9

1/3

1/5

Chinese Office

7

7

1

1/3

7

5

International Product

9

9

3

1

9

5

IT Outsourcing

5

3

1/7

1/9

1

1/3

New Local Campaign

3

5

1/5

1/5

3

1

Net Present Value

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1/3

1/5

1/7

1/3

1/3

ERP Implementation

3

1

1/5

1/7

1

1/3

Chinese Office

5

5

1

1/3

5

3

International Product

7

7

3

1

5

7

IT Outsourcing

3

1

1/5

1/5

1

1/3

New Local Campaign

3

3

1/3

1/7

3

1

Improves Ability to Compete in International Markets

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

3

1/9

1/7

5

5

ERP Implementation

1/3

1

1/9

1/9

1/3

3

Chinese Office

9

9

1

1

9

9

International Product

7

9

1

1

9

9

IT Outsourcing

1/5

3

1/9

1/9

1

3

New Local Campaign

1/5

1/3

1/9

1/9

1/3

1

Improves Internal Processes

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1/5

3

5

1

7

ERP Implementation

5

1

7

7

1

7

Chinese Office

1/3

1/7

1

1

1/7

1

International Product

1/5

1/7

1

1

1/7

1/3

IT Outsourcing

1

1

7

7

1

7

New Local Campaign

1/7

1/7

1

3

1/7

1

Improves Reputation

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1/3

1/7

1/5

3

1/7

ERP Implementation

3

1

1/9

1/5

5

1/7

Chinese Office

7

9

1

3

7

1

International Product

5

5

1/3

1

7

1/3

IT Outsourcing

1/3

1/5

1/7

1/7

1

1/9

New Local Campaign

7

7

1

3

9

1

Lower Risks (Threats) for the Organization

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

5

7

3

5

1

ERP Implementation

1/5

1

5

3

3

1/7

Chinese Office

1/7

1/5

1

1/3

1/3

1/9

International Product

1/3

1/3

3

1

5

1/7

IT Outsourcing

1/5

1/3

3

1/5

1

1/9

New Local Campaign

1

7

9

7

9

1

Urgency

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

1/3

1/5

1/7

3

1

ERP Implementation

3

1

1/7

1/9

3

3

Chinese Office

5

7

1

1/3

5

7

International Product

7

9

3

1

7

7

IT Outsourcing

1/3

1/3

1/5

1/7

1

1/3

New Local Campaign

1

1/3

1/7

1/7

3

1

Internal Technical Knowledge

New Office

ERP Implem.

Chinese Office

Intern. Product

IT Outsourc.

Local Campaign

New Office

1

9

9

9

9

3

ERP Implementation

1/9

1

1/3

1/3

1/5

1/9

Chinese Office

1/9

3

1

3

1

1/9

International Product

1/9

3

1/3

1

1/3

1/9

IT Outsourcing

1/9

5

1

3

1

1/9

New Local Campaign

1/3

9

9

9

9

1

After calculating all priorities and inconsistency indices, it is possible to determine the relative weight of each project for each criterion, as we can see in the following twelve (12) charts (one chart for each criterion).

image024.pngFigure 11 – Priority results for the projects according to the Team Commitment Criterion

image026.pngFigure 12 – Priority results for the projects according to the Organization Commitment Criterion

image028.pngFigure 13 – Priority results for the projects according to the Project Manager Commitment Criterion

image030.pngFigure 14 – Priority results for the projects according to the Return On Investment Criterion

image032.pngFigure 15 – Priority results for the projects according to the Profit (US$) Criterion

image034.pngFigure 16 – Priority results for the projects according to the Net Present Value Criterion

image036.pngFigure 17 – Priority results for the projects according to the Ability to compete in International Markets Criterion

image038.pngFigure 18 – Priority results for the projects according to the Improves Internal Processes Criterion

image040.pngFigure 19 –Priority results for the projects according to the Improves Reputation Criterion

image042.pngFigure 20 – Priority results for the projects according to the Lower Organizational Risks (Threats) Criterion

image044.pngFigure 21 – Priority results for the projects according to the Urgency Criterion

image046.pngFigure 22 – Priority results for the projects according to the Internal Technical Knowledge Criterion

The crossing product of all project evaluations using all criteria determines the final priority for each project in relation to the desired goal.

The mechanism for calculating the final priority is to sum the products of the multiplication of each criterion’s priority weight by its alternative weight.

In order to exemplify this process, Table 25 shows the calculation process for the alternative “Move to a New Office”

Criteria

Priority Weight

Alternative Weight

Product

Team Commitment

0,0122

0,2968

0,0036

Organizational Commitment

0,0048

0,0993

0,0005

Project Manager Commitment

0,0514

0,1586

0,0082

Return on Investment (ROI)

0,0357

0,0296

0,0011

Profit (US$)

0,1785

0,0315

0,0056

Net Present Value

0,1785

0,0366

0,0065

Improves Ability to Compete in International Markets

0,2988

0,1033

0,0309

Improves Internal Processes

0,0331

0,1903

0,0063

Improves Reputation

0,1284

0,0421

0,0054

Lower Risks (Threats) for the Organization

0,0219

0,2994

0,0066

Urgency

0,0056

0,0553

0,0003

Internal Technical Knowledge

0,0510

0,4796

0,0243

Results

0,0992

The same process should be repeated for the other five (5) projects. The final results for all projects are shown in Figure 23.

image048.pngFigure 23 – Final priority results for the for ACME’s portfolio of projects

Figure 23 shows that the project with the highest level of adherence to the defined goal is “Development of a New Product for the International Market”. It contributes with 34.39% (0.3439). In order to better illustrate the importance of the difference between the weights and priorities of each project, this project contributes with about three (3) times more to the goal than the New Local Marketing Campaign project, which contributes with only 13.1% (0.131) to the global goal.

Conclusion

AHP has been attracting the interest of many researchers mainly due to the mathematical features of the method and the fact that data entry is fairly simple to be produced (TRIANTAPHYLLOU & MANN, 1995). Its simplicity is characterized by the pair-wise comparison of the alternatives according to specific criteria (VARGAS, 1990).

Its application to select projects for the portfolio allows the decision makers to have a specific and mathematical decision support tool. This tool not only supports and qualifies the decisions, but also enables the decision makers to justify their choices, as well as simulate possible results.

The use of AHP also presumes the utilization of a software application tailored specifically to perform the mathematical calculations. In this paper, the intention has been to show the main calculations performed during the analysis, enabling project managers to have an adequate understanding of the technique, as well as the complexity involved to make the calculations by hand (in case software applications can’t be used).

Another important aspect is the quality of the evaluations made by the decision makers (COYLE, 2004). For a decision to be the most adequate possible, it must be consistent and coherent with organizational results. We saw that the coherence of the results can be calculated by the inconsistency index. However, the inconsistency index allows only the evaluation of the consistency and regularity of the opinions from the decision makers, and not whether these opinions are the most adequate for a specific organizational context.

Finally, it is important to emphasize that decision making presumes a broader and more complex understanding of the context than the use of any specific technique. It predicates that a decision about a portfolio is a fruit of negotiation, human aspects and strategic analysis, where methods like AHP favor and guide the execution of the work, but they cannot and must not be used as a universal criteria.

References

BHUSHAN, N. & RAI, K. (2004). Strategic Decision Making: Applying the Analytic Hierarchy Process. New York: Springer.

COYLE, G. (2004). The Analytic Hierarchy Process. New York: Pearson Educational.

HAAS, R. & MEIXNER, O. (2005). An Illustrated Guide To Analytic Hierarchy Process. Vienna: University of Natural Resources and Applied Life Sciences.

KOSTLAN, E. (1991). Statistical Complexity of Dominant Eigenvector Calculation. Hawaii: Journal of Complexity Volume 7, Issue 4, December 1991, Pages 371-379. Available at http://www.developmentserver.com/randompolynomials/scdec/paper.pdf

HILLSON, D. (2002). Use a Risk Breakdown Structure (RBS) to Understand Your Risks. San Antonio: PMI Global Congress and Symposium.

PMI (2008). The Standard for Portfolio Management: Second Edition. Newtown Square: Project Management Institute.

SAATY, T. L (1980). The Analytic Hierarchy Process. New York: McGraw-Hill International.

SAATY, T. L. (2005). Theory and Applications of the Analytic Network Process: Decision Making with Benefits, Opportunities, Costs, and Risks. Pittsburgh: RWS Publications.

SAATY, T. L. (2008). Relative Measurement and its Generalization in Decision Making: Why Pairwise Comparisons are Central in Mathematics for the Measurement of Intangible Factors – The Analytic Hierarchy/Network Process. Madrid: Review of the Royal Spanish Academy of Sciences, Series A, Mathematics. Available at http://www.rac.es/ficheros/doc/00576.PDF

SAATY, T. L. (2009). Extending the Measurement of Tangibles to Intangibles. International Journal of Information Technology & Decision Making, Vol. 8, No. 1, pp. 7-27, 2009. Available at SSRN: http://ssrn.com/abstract=1483438

TEKNOMO, K. (2006). Analytic Hierarchy Process (AHP) Tutorial. Available at http://people.revoledu.com/kardi/tutorial/ahp/

TRIANTAPHYLLOU, E. & MANN S. H. (1995). Using The Analytic Hierarchy Process For Decision Making in Engineering Applications: Some Challenges. International Journal of Industrial Engineering: Applications and Practice, Vol. 2, No. 1, pp. 35-44, 1995. Available at http://www.csc.lsu.edu/trianta/Journal_PAPERS1/AHPapls1.pdf

TRIANTAPHYLLOU, E. (2002). Multi-Criteria Decision Making Methods: A comparative Study. New York: Springer.

VARGAS, L.G. (1990). An Overview of the Analytic Hierarchy Process and its Applications. European Journal of Operational Research, 48, 2-8.

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Does your company sizes financial reserves for projects? http://www.ricardo-vargas.com/polls/does-your-company-sizes-financial-reserves-for-projects/ http://www.ricardo-vargas.com/polls/does-your-company-sizes-financial-reserves-for-projects/#comments Thu, 07 Oct 2010 02:11:02 +0000 http://www.ricardo-vargas.com/?p=3813 Listen below the podcast about contingency reserves x management reserves which originated this poll.

In this podcast, Ricardo talk about the difference between the Contingency Reserve and the Management Reserves. He explains that both work with a financial protection for the project and that the management reserve is about the perception of the risks of the company.

Poll Results

Does your company sizes financial reserves for projects

Results Analysis

It’s a very interesting result. If we have in mind that people that come to the site and answered the survey know about project management, this result is not very coherent with those who apply the good practices, once 62% of interviewees said they don’t have any reserves.

Usually, managers consider the majority of reserves as “fat” and unnecessary. I heard other comments about this that state that once a project manager knows about the reserve he will automatically consume it (Parkinson’s Law).

According to the survey, 18% of the interviewees have contingency reserves, i.e., reserves for the risks identified on the risk management plan. This data indicates, at least, that there is a certain risk plan for this group.

8% assumed to have only management reserves and possibly they only have them because this is a management standard and this doesn’t depend on a complete analysis to be determined. Usually, organizations attribute a percentage of the project’s budget as a management reserve due to what they learned from previous projects and market studies. So, these 8% plus the 62% that don’t have any reserve totalizes 70%. This suggests that 70% of the interviewees don’t apply adequately the processes of risk management.

On the other way, 11% of the participants affirm to have both reserves and this is a mature practice of risks management. By protecting the known risks using the contingency reserve and the unknown risks using the management reserve, we have a high protection against risks’ fluctuations.

Obviously, the sum of the two reserves can overtax the project budget, confirming that every protection has a price to be paid or, at least, an amount to be reserved for it.

It’s a very interesting result. If we have in mind that people that come to the site and answered the survey know about project management, this result is not very coherent with those who apply the good practices, once 62% of interviewees said they don’t have any reserves.
Usually, managers consider the majority of reserves as “fat” and unnecessary. I heard other comments about this that state that once a project manager knows about the reserve he will automatically consume it (Parkinson’s Law).
According to the survey, 20% of the interviewees have contingency reserves, i. e., reserves for the risks identified on the risk management plan. This data indicates, at least, that there is a certain risk plan for this group.
8% assumed to have only management reserves and possibly they only have them because this is a management standard and this doesn’t depend on a complete analysis to be determined. Usually, organizations attribute a percentage of the project’s budget as a management reserve due to what they learned from previous projects and market studies. So, these 8% plus the 62% that don’t have any reserve totalizes 70%. This suggests that 70% of the interviewees don’t apply adequately the processes of risk management.
On the other way, 11% of the participants affirm to have both reserves and this is a mature practice of risks management. By protecting the known risks using the contingency reserve and the unknown risks using the management reserve, we have a high protection against risks’ fluctuations. Obviously, the sum of the two reserves can overtax the project budget, confirming that every protection has a price to be paid or, at least, an amount to be reserved for it.

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How to Prepare your Project Manager Resumé – Part 2/2 http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-22/ http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-22/#comments Mon, 04 Oct 2010 03:17:32 +0000 http://www.ricardo-vargas.com/?p=3256 In this second podcast of Resumé series, Ricardo talks about how to present the experience in the resumé. He explains that often the job does not explain much. you need a separate space informing activities and projects that participated, focusing on project management. He also shows the importance of spending accurate information and good and bad experiments.

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http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-22/feed/ 14 7:20 In this second podcast of Resumé series, Ricardo talks about how to present the experience in the resumé. He explains that often the job does not explain much. you need a separate space informing activities and projects that participated, focusing on project management. He also shows the importance of spending accurate information and good and bad experiments. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Prepare your Project Manager Resumé – Part 1/2 http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-12/ http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-12/#comments Wed, 29 Sep 2010 19:42:27 +0000 http://www.ricardo-vargas.com/?p=3224 In this series of two podcasts Ricardo gives some tips about how to prepare correctly a resumé for the project management area. He explains how to insert your professional background, courses and experience. He describes in detail how to put your credentials (PMP, PgMP, CAPM, etc) in order to maximize your curriculum in a selection process. Part 1 of 2 podcasts.

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http://www.ricardo-vargas.com/podcasts/how-to-prepare-your-resume-part-12/feed/ 5 6:29 In this series of two podcasts Ricardo gives some tips about how to prepare correctly a resumé for the project management area. He explains how to insert your professional background, courses and experience. He describes in detail how to put your credentials (PMP, PgMP, CAPM, etc) in order to maximize your curriculum in a selection process. Part 1 of 2 podcasts. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Do Everything Wrong in a Project: The New Brazilian Power Socket http://www.ricardo-vargas.com/podcasts/braziliansocket/ http://www.ricardo-vargas.com/podcasts/braziliansocket/#comments Mon, 20 Sep 2010 03:00:30 +0000 http://www.ricardo-vargas.com/?p=3199 In this podcast Ricardo talks about the compulsory change in the power socket to the new standard. He aims to analyze what he believes are the main failures in the project with respect to the reasons for the change, including the increase in competitiveness for the Brazilian industry, and the decision process based contrary of what we call global marketplace.

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http://www.ricardo-vargas.com/podcasts/braziliansocket/feed/ 17 6:59 In this podcast Ricardo talks about the compulsory change in the power socket to the new standard. He aims to analyze what he believes are the main failures in the project with respect to the reasons for the change, including the increase in competitiveness for the Brazilian industry, and the decision process based contrary of what we call global marketplace. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Management in Services http://www.ricardo-vargas.com/podcasts/pm-in-services/ http://www.ricardo-vargas.com/podcasts/pm-in-services/#comments Wed, 15 Sep 2010 15:29:28 +0000 http://www.ricardo-vargas.com/?p=3156 In this podcast, Ricardo talks about projects in services. He explains that many people associate projects
to major constructions and tangible products, but a training program or an improvement in the organization are also projects. He remembers that the project is to be temporary and unique and the service sector benefits greatly by using the best practices in Project Management.

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http://www.ricardo-vargas.com/podcasts/pm-in-services/feed/ 8 5:03 In this podcast, Ricardo talks about projects in services. He explains that many people associate projects to major constructions and tangible products, but a training program or an improvement in the organization are also projects. He remembers that the project is to be temporary and unique and the service sector benefits greatly by using the best practices in Project Management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Conflicts and Project Phases http://www.ricardo-vargas.com/podcasts/conflicts-and-project-phases/ http://www.ricardo-vargas.com/podcasts/conflicts-and-project-phases/#comments Mon, 06 Sep 2010 03:00:43 +0000 http://www.ricardo-vargas.com/?p=3115 In this podcast, Ricardo talks about the conflicts during the project life cycle. He explains that when the conflict happens in the initial phases of project, the project manager should encourage to discuss the differences and clarify the understanding of the goals, but when the conflict happens in the stages of implementation, monitoring and control means that the project is being poorly managed.

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http://www.ricardo-vargas.com/podcasts/conflicts-and-project-phases/feed/ 8 5:13 In this podcast, Ricardo talks about the conflicts during the project life cycle. He explains that when the conflict happens in the initial phases of project, the project manager should encourage to discuss the differences and clarify the understanding of the goals, but when the conflict happens in the stages of implementation, monitoring and control means that the project is being poorly managed. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
PMI Career Framework http://www.ricardo-vargas.com/podcasts/pmi-career-framework/ http://www.ricardo-vargas.com/podcasts/pmi-career-framework/#comments Wed, 01 Sep 2010 17:27:03 +0000 http://www.ricardo-vargas.com/?p=3109 In this podcast, Ricardo talks about PMI Career Framework, which is an initiative to provide organizations and professionals with the necessary support for job descriptions in project, program and portfolio management, at no cost. He explains that this PMI service has mapped the professional positions and corresponding skills related to project, program and portfolio management by taking advantage of a research that was conducted with over 5,000 professionals from around the world.

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http://www.ricardo-vargas.com/podcasts/pmi-career-framework/feed/ 2 4:32 In this podcast, Ricardo talks about PMI Career Framework, which is an initiative to provide organizations and professionals with the necessary support for job descriptions in project, program and portfolio management, at no cost. He explains that this PMI service has mapped the professional positions and corresponding skills related to project, program and portfolio management by taking advantage of a research that was conducted with over 5,000 professionals from around the world. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
What is the real meaning of the word project? http://www.ricardo-vargas.com/podcasts/projetodef/ http://www.ricardo-vargas.com/podcasts/projetodef/#comments Tue, 24 Aug 2010 00:11:55 +0000 http://www.ricardo-vargas.com/?p=3107 In this podcast, Ricardo discusses the definition of the word “project”. He says that the word “project” has two meanings. The first is related to the endeavor needed to produce a unique product or service, as presented in the PMBOK® Guide. The second concerns the word “project” with the discipline of knowledge related to projects, programs and portfolios, such as the letter “P” from PMI and IPMA and the word “project” from the Project Management MBA courses.

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http://www.ricardo-vargas.com/podcasts/projetodef/feed/ 9 4:49 In this podcast, Ricardo discusses the definition of the word "project". He says that the word "project" has two meanings. The first is related to the endeavor needed to produce a unique product or service, as presented in the PMBOK® Guide. The second concerns the word "project" with the discipline of knowledge related to projects, programs and portfolios, such as the letter "P" from PMI and IPMA and the word "project" from the Project Management MBA courses. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Resource Leveling http://www.ricardo-vargas.com/podcasts/resource-leveling/ http://www.ricardo-vargas.com/podcasts/resource-leveling/#comments Mon, 16 Aug 2010 03:06:50 +0000 http://www.ricardo-vargas.com/?p=3104 In this podcast, Ricardo talks about the resource leveling and when it should be done. He explains that this is a complex task that requires a cost-benefit analysis and decision making, and do this task only through software is not the best decision.

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http://www.ricardo-vargas.com/podcasts/resource-leveling/feed/ 4 6:23 In this podcast, Ricardo talks about the resource leveling and when it should be done. He explains that this is a complex task that requires a cost-benefit analysis and decision making, and do this task only through software is not the best decision. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Working With Multiple Projects http://www.ricardo-vargas.com/podcasts/multiple-projects/ http://www.ricardo-vargas.com/podcasts/multiple-projects/#comments Mon, 09 Aug 2010 03:00:44 +0000 http://www.ricardo-vargas.com/?p=3096 In this podcast, Ricardo talks about the fractionation of a project into smaller slices. He explains that if the project is large you can divide it into phases when there is not dependency between them. He shows the advantages and disadvantages of managing multiple projects and cases in which this technique can be used.

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http://www.ricardo-vargas.com/podcasts/multiple-projects/feed/ 6 6:18 In this podcast, Ricardo talks about the fractionation of a project into smaller slices. He explains that if the project is large you can divide it into phases when there is not dependency between them. He shows the advantages and disadvantages of managing multiple projects and cases in which this technique can be used. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Cost of Project Management http://www.ricardo-vargas.com/podcasts/pmcost/ http://www.ricardo-vargas.com/podcasts/pmcost/#comments Mon, 02 Aug 2010 03:00:47 +0000 http://www.ricardo-vargas.com/?p=3090 In this podcast, Ricardo explains where the costs related to project management should be registered. He points that, according to surveys, the costs of project management range from 0.5% to 2% of the project total costs, and that, even though many people consider 1% to be expensive, when any error arises from the lack of an adequate management, the correcting costs are much higher than just 1%.

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http://www.ricardo-vargas.com/podcasts/pmcost/feed/ 7 6:45 In this podcast, Ricardo explains where the costs related to project management should be registered. He points that, according to surveys, the costs of project management range from 0.5% to 2% of the project total costs, and that, even though many people consider 1% to be expensive, when any error arises from the lack of an adequate management, the correcting costs are much higher than just 1%. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
When Redefine the Project Baseline http://www.ricardo-vargas.com/podcasts/redefbaseline/ http://www.ricardo-vargas.com/podcasts/redefbaseline/#comments Mon, 26 Jul 2010 03:00:43 +0000 http://www.ricardo-vargas.com/?p=3087 In this podcast Ricardo talks about the concept of project baseline and discusses in which conditions is acceptable to redefine the baseline.

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http://www.ricardo-vargas.com/podcasts/redefbaseline/feed/ 5 6:06 In this podcast Ricardo talks about the concept of project baseline and discusses in which conditions is acceptable to redefine the baseline. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Free Slack and Total Slack in Projects http://www.ricardo-vargas.com/podcasts/free-slack-and-total-slack/ http://www.ricardo-vargas.com/podcasts/free-slack-and-total-slack/#comments Mon, 19 Jul 2010 03:07:33 +0000 http://www.ricardo-vargas.com/?p=3084 In this podcast Ricardo talks about the difference between total slack and free slack in projects. He explains clearly how to identify the free slack and total slack, through a practical example.

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http://www.ricardo-vargas.com/podcasts/free-slack-and-total-slack/feed/ 6 7:11 In this podcast Ricardo talks about the difference between total slack and free slack in projects. He explains clearly how to identify the free slack and total slack, through a practical example. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Born or Not to Born with Soft Skills? This is the Question http://www.ricardo-vargas.com/podcasts/born-or-not-to-born-with-soft-skills/ http://www.ricardo-vargas.com/podcasts/born-or-not-to-born-with-soft-skills/#comments Mon, 12 Jul 2010 03:02:01 +0000 http://www.ricardo-vargas.com/?p=3081 In this podcast Ricardo talks about the soft skills of leadership. He gives tips to capitalize these skills and explains the difference between being born with these skills or acquire them with training.

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http://www.ricardo-vargas.com/podcasts/born-or-not-to-born-with-soft-skills/feed/ 10 5:37 In this podcast Ricardo talks about the soft skills of leadership. He gives tips to capitalize these skills and explains the difference between being born with these skills or acquire them with training. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Change Management and Culture: The 2010 FIFA Worldcup Rules and Referees http://www.ricardo-vargas.com/podcasts/fifa-worldcup/ http://www.ricardo-vargas.com/podcasts/fifa-worldcup/#comments Mon, 05 Jul 2010 03:10:12 +0000 http://www.ricardo-vargas.com/?p=3075 Ricardo presents in this podcast his reflexions about the polemic generated by the referees in the FIFA Worldcup matches and the FIFA resistance in provide this changes. He also discuss the cultural aspects of change and compare this resistance with the resistance we face in most of the projects in the organizations.

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http://www.ricardo-vargas.com/podcasts/fifa-worldcup/feed/ 5 6:06 Ricardo presents in this podcast his reflexions about the polemic generated by the referees in the FIFA Worldcup matches and the FIFA resistance in provide this changes. He also discuss the cultural aspects of change and compare this resistance with the resistance we face in most of the projects in the organizations. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
How to Plan a Very Urgent Project? http://www.ricardo-vargas.com/podcasts/urgent-project/ http://www.ricardo-vargas.com/podcasts/urgent-project/#comments Tue, 29 Jun 2010 15:06:04 +0000 http://www.ricardo-vargas.com/?p=3067 In this podcast, Ricardo talks about the key information that must be produced by the project manager when receives a very urgent project and need understand the purpose, scope, budget, schedule and constraints of the project in a very short period. He explains that making a quick planning and not very detailed is not ideal and can not be a normal situation in the company.

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http://www.ricardo-vargas.com/podcasts/urgent-project/feed/ 17 6:32 In this podcast, Ricardo talks about the key information that must be produced by the project manager when receives a very urgent project and need understand the purpose, scope, budget, schedule and constraints of the project in a very short period. He explains that making a quick planning and not very detailed is not ideal and can not be a normal situation in the company. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Contingency Reserves x Management Reserves http://www.ricardo-vargas.com/podcasts/contingency-reserves-x-management-reserves/ http://www.ricardo-vargas.com/podcasts/contingency-reserves-x-management-reserves/#comments Mon, 21 Jun 2010 16:21:23 +0000 http://www.ricardo-vargas.com/?p=3062 In this podcast, Ricardo talks about the difference between the Contingency Reserve and the Management Reserves. He explains that both work with a financial protection for the project and that the management reserve is about the perception of the risks of the company.

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http://www.ricardo-vargas.com/podcasts/contingency-reserves-x-management-reserves/feed/ 9 6:47 In this podcast, Ricardo talks about the difference between the Contingency Reserve and the Management Reserves. He explains that both work with a financial protection for the project and that the management reserve is about the perception of the risks of the company. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Why I need to understand the concept and know how to calculate the project critical path? http://www.ricardo-vargas.com/podcasts/understand_critical_path/ http://www.ricardo-vargas.com/podcasts/understand_critical_path/#comments Mon, 14 Jun 2010 16:29:22 +0000 http://www.ricardo-vargas.com/?p=3054 In this podcast, Ricardo talks about the project critical path and explains that the use of softwares to calculate the critical path, causes the manager forget the basics and concepts of project management. Ricardo also explains that the critical path consists of the activities that directly determine the duration of the project and this activities are not necessarily more expensive or riskier in the project.

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http://www.ricardo-vargas.com/podcasts/understand_critical_path/feed/ 9 6:24 In this podcast, Ricardo talks about the project critical path and explains that the use of softwares to calculate the critical path, causes the manager forget the basics and concepts of project management. Ricardo also explains that the critical path consists of the activities that directly determine the duration of the project and this activities are not necessarily more expensive or riskier in the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Strategy and the Delta Model – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part2of2/ http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part2of2/#comments Mon, 07 Jun 2010 03:00:29 +0000 http://www.ricardo-vargas.com/?p=3032 In this second podcast about the corporate strategy course that Ricardo took at MIT, he talks about the lock-in position with the customer, ie, to create an unique channel with your customers by offering customized and complete solutions. Ricardo explains that in order to address the customers expectations in a different manner, it is necessary to think in a projectized way and also to create an unique channel with your customer.

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http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part2of2/feed/ 4 7:17 In this second podcast about the corporate strategy course that Ricardo took at MIT, he talks about the lock-in position with the customer, ie, to create an unique channel with your customers by offering customized and complete solutions. Ricardo explains that in order to address the customers expectations in a different manner, it is necessary to think in a projectized way and also to create an unique channel with your customer. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Strategy and Delta Model – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part-1-of-2/ http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part-1-of-2/#comments Mon, 31 May 2010 21:56:48 +0000 http://www.ricardo-vargas.com/?p=3027 In this podcast Ricardo talks about the course of Corporate Strategy that he took at MIT. In the course the focus was the strategic model called Delta Model, where the customer relationship is the cornerstone of any strategy. The course was conducted by Prof. Arnoldo Hax, one of the world’s experts in strategy.

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http://www.ricardo-vargas.com/podcasts/strategy-and-delta-model-part-1-of-2/feed/ 6 5:37 In this podcast Ricardo talks about the course of Corporate Strategy that he took at MIT. In the course the focus was the strategic model called Delta Model, where the customer relationship is the cornerstone of any strategy. The course was conducted by Prof. Arnoldo Hax, one of the world's experts in strategy. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Tribute to Rita Mulcahy http://www.ricardo-vargas.com/podcasts/tribute-to-rita-mulcahy/ http://www.ricardo-vargas.com/podcasts/tribute-to-rita-mulcahy/#comments Mon, 24 May 2010 03:00:17 +0000 http://www.ricardo-vargas.com/?p=3022 In this podcast, Ricardo pays a tribute to Rita Mulcahy, who passed away on May 15th. He says he had the opportunity to meet her back in 1998 in California, when he attended to a presentation she was giving. At that very moment he realized that Rita was a different person. Ricardo mentions that he participates in many project management discussion groups from several countries, and by the messages posted on these groups, it is easy to see that people from everywhere have her book as the reference when it comes to preparing for the PMP certification.

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http://www.ricardo-vargas.com/podcasts/tribute-to-rita-mulcahy/feed/ 5 5:05 In this podcast, Ricardo pays a tribute to Rita Mulcahy, who passed away on May 15th. He says he had the opportunity to meet her back in 1998 in California, when he attended to a presentation she was giving. At that very moment he realized that Rita was a different person. Ricardo mentions that he participates in many project management discussion groups from several countries, and by the messages posted on these groups, it is easy to see that people from everywhere have her book as the reference when it comes to preparing for the PMP certification. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Make or Not Make Concessions: The Project Manager’s Dilemma http://www.ricardo-vargas.com/podcasts/concessions/ http://www.ricardo-vargas.com/podcasts/concessions/#comments Tue, 18 May 2010 18:49:35 +0000 http://www.ricardo-vargas.com/?p=3019 In this podcast, Ricardo talks about the concessions that the project manager often does. He explains that the concession usually is harmful to the project, because when the project manager makes a concession, he ceases to follow the plans, and shows that he is not serious about the plan. Ricardo also explained that once
made the concession, it becomes very difficult to not do more.

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http://www.ricardo-vargas.com/podcasts/concessions/feed/ 9 6:44 In this podcast, Ricardo talks about the concessions that the project manager often does. He explains that the concession usually is harmful to the project, because when the project manager makes a concession, he ceases to follow the plans, and shows that he is not serious about the plan. Ricardo also explained that once made the concession, it becomes very difficult to not do more. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Virtual Teams http://www.ricardo-vargas.com/podcasts/virtual-teams/ http://www.ricardo-vargas.com/podcasts/virtual-teams/#comments Mon, 10 May 2010 04:00:01 +0000 http://www.ricardo-vargas.com/?p=3017 In this podcast, Ricardo talks about the management of virtual teams in projects. He explains that this is a big trend in the business world and shows the benefits of leading a virtual team, as well as the major challenges that must be dealt with like cultural, communications and geographic issues.
Ricardo shows that technology is a major enabler for the project manager in this task and that the leadership style of the project manager while managing a virtual team is quite different from leading a face-to-face team.

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http://www.ricardo-vargas.com/podcasts/virtual-teams/feed/ 8 8:22 In this podcast, Ricardo talks about the management of virtual teams in projects. He explains that this is a big trend in the business world and shows the benefits of leading a virtual team, as well as the major challenges that must be dealt with like cultural, communications and geographic issues. Ricardo shows that technology is a major enabler for the project manager in this task and that the leadership style of the project manager while managing a virtual team is quite different from leading a face-to-face team. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Lean Six Sigma Brazilian Congress http://www.ricardo-vargas.com/podcasts/lean-six-sigma-brazilian-congress/ http://www.ricardo-vargas.com/podcasts/lean-six-sigma-brazilian-congress/#comments Mon, 03 May 2010 16:48:56 +0000 http://www.ricardo-vargas.com/?p=3013 In this podcast, Ricardo talks about the Lean Six Sigma Brazilian Congress that will take place on May, 12- 13th in Sao Paulo. He has been invited to talk about how project management can make a difference in Brazil.
He explains that the congress will address several issues related to efficiency in corporate management in Brazilian companies so as to compete in international markets.
Ricardo also emphasizes that the congress will cover topics such as ecology, social responsibility, sustainability, world economy and innovation – a theme he discussed a lot when he studied “Management and Development of Complex Products” at MIT (Massachusetts Institute of Technology).

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http://www.ricardo-vargas.com/podcasts/lean-six-sigma-brazilian-congress/feed/ 0 6:19 In this podcast, Ricardo talks about the Lean Six Sigma Brazilian Congress that will take place on May, 12- 13th in Sao Paulo. He has been invited to talk about how project management can make a difference in Brazil. He explains that the congress will address several issues related to efficiency in corporate management in Brazilian companies so as to compete in international markets. Ricardo also emphasizes that the congress will cover topics such as ecology, social responsibility, sustainability, world economy and innovation - a theme he discussed a lot when he studied “Management and Development of Complex Products” at MIT (Massachusetts Institute of Technology). Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Procrastination http://www.ricardo-vargas.com/podcasts/procastination/ http://www.ricardo-vargas.com/podcasts/procastination/#comments Mon, 26 Apr 2010 23:25:49 +0000 http://www.ricardo-vargas.com/?p=3002 In this podcast, Ricardo talks about procrastination in projects, ie the act of delaying something in the project. He explains the reasons why people take this attitude also called of “student syndrome”.

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http://www.ricardo-vargas.com/podcasts/procastination/feed/ 17 7:59 In this podcast, Ricardo talks about procrastination in projects, ie the act of delaying something in the project. He explains the reasons why people take this attitude also called of "student syndrome". Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from Albert Einstein Hospital: Snapping the Limits of Project Management Application http://www.ricardo-vargas.com/podcasts/einstein/ http://www.ricardo-vargas.com/podcasts/einstein/#comments Mon, 19 Apr 2010 03:00:43 +0000 http://www.ricardo-vargas.com/?p=2995 In this podcast Ricardo talks directly from Albert Einstein Hospital, his first project management work in health care. He reflects the dimension that project management is taking place in non-typical areas for projects.

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http://www.ricardo-vargas.com/podcasts/einstein/feed/ 4 4:48 In this podcast Ricardo talks directly from Albert Einstein Hospital, his first project management work in health care. He reflects the dimension that project management is taking place in non-typical areas for projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
I am an New Manager of an Old Project: The Implications of Changing the Project Manager During the Project http://www.ricardo-vargas.com/podcasts/new-manager-old-project/ http://www.ricardo-vargas.com/podcasts/new-manager-old-project/#comments Wed, 14 Apr 2010 01:12:48 +0000 http://www.ricardo-vargas.com/?p=2989 In this podcast, Ricardo talks about what happens when the project manager is changed midway through the project, he explains that is important to keep the core team to ensure understanding of the project and gives some tips for the new project manager.

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http://www.ricardo-vargas.com/podcasts/new-manager-old-project/feed/ 17 7:10 In this podcast, Ricardo talks about what happens when the project manager is changed midway through the project, he explains that is important to keep the core team to ensure understanding of the project and gives some tips for the new project manager. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Management in Financial Institutions http://www.ricardo-vargas.com/podcasts/pm-financial-institutions/ http://www.ricardo-vargas.com/podcasts/pm-financial-institutions/#comments Mon, 05 Apr 2010 16:37:12 +0000 http://www.ricardo-vargas.com/?p=2974 In this podcast, Ricardo talks about project management in financial institutions, where the product is money itself. He also talks about the importance of technology to facilitate the client’s work and provide accurate and quick financial transactions.

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http://www.ricardo-vargas.com/podcasts/pm-financial-institutions/feed/ 2 7:54 In this podcast, Ricardo talks about project management in financial institutions, where the product is money itself. He also talks about the importance of technology to facilitate the client's work and provide accurate and quick financial transactions. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from MIT – Massachusetts Institute of Technology – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/directly-from-mit-part2of2/ http://www.ricardo-vargas.com/podcasts/directly-from-mit-part2of2/#comments Wed, 31 Mar 2010 01:41:24 +0000 http://www.ricardo-vargas.com/?p=2971 In this second podcast of the MIT series, Ricardo talks about the development and management of successful strategies of product development. He talks of innovation and the difference between the ability of companies to create value and capture value.

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http://www.ricardo-vargas.com/podcasts/directly-from-mit-part2of2/feed/ 1 7:31 In this second podcast of the MIT series, Ricardo talks about the development and management of successful strategies of product development. He talks of innovation and the difference between the ability of companies to create value and capture value. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from MIT – Massachusetts Institute of Technology – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/directly-from-mit-part-1of2/ http://www.ricardo-vargas.com/podcasts/directly-from-mit-part-1of2/#comments Tue, 23 Mar 2010 12:45:08 +0000 http://www.ricardo-vargas.com/?p=2963 In this podcast, Ricardo talks about the course on Management of Development Complex Product that he is doing in Cambridge at MIT. He explains that complex products can be aviation products, electronics, hardware and others. Ricardo also talks about the types of complexity involving the product and a mathematical model to help plan these products that is the Design Structure Matrix – DSM.

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http://www.ricardo-vargas.com/podcasts/directly-from-mit-part-1of2/feed/ 4 6:44 In this podcast, Ricardo talks about the course on Management of Development Complex Product that he is doing in Cambridge at MIT. He explains that complex products can be aviation products, electronics, hardware and others. Ricardo also talks about the types of complexity involving the product and a mathematical model to help plan these products that is the Design Structure Matrix - DSM. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The relationship between the client, project management and contractors http://www.ricardo-vargas.com/podcasts/the-relationship-between-stakeholders/ http://www.ricardo-vargas.com/podcasts/the-relationship-between-stakeholders/#comments Mon, 15 Mar 2010 17:58:06 +0000 http://www.ricardo-vargas.com/?p=2954 In this podcast, Ricardo talks about the importance of good relations between those who purchase the project, who manages and third parties involved in the project. He explains that the trust and respect must be made since early project, so that each party knows their role and their responsibilities.

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http://www.ricardo-vargas.com/podcasts/the-relationship-between-stakeholders/feed/ 1 7:25 In this podcast, Ricardo talks about the importance of good relations between those who purchase the project, who manages and third parties involved in the project. He explains that the trust and respect must be made since early project, so that each party knows their role and their responsibilities. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Automotive recall from the perspective of Project Management http://www.ricardo-vargas.com/podcasts/automotive-recall-pm-perspective/ http://www.ricardo-vargas.com/podcasts/automotive-recall-pm-perspective/#comments Mon, 08 Mar 2010 03:00:09 +0000 http://www.ricardo-vargas.com/?p=2949 In this podcast, Ricardo talks about the problems of recall in the automotive industry which occurred in February and how project management can help in situations like this. He explains that there is an increasing pressure on time and lower costs, leading companies to a greater exposure to risk.

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http://www.ricardo-vargas.com/podcasts/automotive-recall-pm-perspective/feed/ 2 7:16 In this podcast, Ricardo talks about the problems of recall in the automotive industry which occurred in February and how project management can help in situations like this. He explains that there is an increasing pressure on time and lower costs, leading companies to a greater exposure to risk. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Selection Criteria – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/selection-criteria-part-2-of-2/ http://www.ricardo-vargas.com/podcasts/selection-criteria-part-2-of-2/#comments Mon, 01 Mar 2010 03:00:54 +0000 http://www.ricardo-vargas.com/?p=2930 In the second installment of a two-part series, Ricardo talks about other criteria that should be considered while selecting projects. He explains that the weight of each criterion depends on the company’s scenario, and that the selection of projects for the portfolio must be made using multiple criteria.

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http://www.ricardo-vargas.com/podcasts/selection-criteria-part-2-of-2/feed/ 3 7:30 In the second installment of a two-part series, Ricardo talks about other criteria that should be considered while selecting projects. He explains that the weight of each criterion depends on the company's scenario, and that the selection of projects for the portfolio must be made using multiple criteria. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Selection Criteria – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/projectselection_1_2/ http://www.ricardo-vargas.com/podcasts/projectselection_1_2/#comments Mon, 22 Feb 2010 03:00:45 +0000 http://www.ricardo-vargas.com/?p=2870 In this podcast Ricardo discuss the main criteria used in the project selection to the portfolio. In this part 1/2, he approaches the relevance of using also non-financial metrics as criteria, like strategic fit, urgency and risk.

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http://www.ricardo-vargas.com/podcasts/projectselection_1_2/feed/ 1 5:32 In this podcast Ricardo discuss the main criteria used in the project selection to the portfolio. In this part 1/2, he approaches the relevance of using also non-financial metrics as criteria, like strategic fit, urgency and risk. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The utilization of standards, frameworks and methodologies for Project Management http://www.ricardo-vargas.com/podcasts/utilizacao_metodologias_gp/ http://www.ricardo-vargas.com/podcasts/utilizacao_metodologias_gp/#comments Mon, 15 Feb 2010 03:00:57 +0000 http://www.ricardo-vargas.com/?p=2835 In this podcast, Ricardo talks about the knowledge of the various standards, frameworks and methodologies that project managers should have. He explains that the project manager must have the ability to understand a problem and solve it using various solutions for project management, making a mix  and if necessary, create your own model.

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http://www.ricardo-vargas.com/podcasts/utilizacao_metodologias_gp/feed/ 8 5:08 In this podcast, Ricardo talks about the knowledge of the various standards, frameworks and methodologies that project managers should have. He explains that the project manager must have the ability to understand a problem and solve it using various solutions for project management, making a mix  and if necessary, create your own model. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Integrated Change Control System http://www.ricardo-vargas.com/podcasts/changecontrol/ http://www.ricardo-vargas.com/podcasts/changecontrol/#comments Mon, 08 Feb 2010 03:00:20 +0000 http://www.ricardo-vargas.com/?p=2820 In this podcast Ricardo talks about the importance of project change management. He assert that the relevant is not to avoid the change, but manage it in a proper and assertive way, aiming the global benefit for the project.

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http://www.ricardo-vargas.com/podcasts/changecontrol/feed/ 6 5:48 In this podcast Ricardo talks about the importance of project change management. He assert that the relevant is not to avoid the change, but manage it in a proper and assertive way, aiming the global benefit for the project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from Paris: The Secret of Project Management for Luxury Goods http://www.ricardo-vargas.com/podcasts/parisluxury/ http://www.ricardo-vargas.com/podcasts/parisluxury/#comments Mon, 01 Feb 2010 03:00:22 +0000 http://www.ricardo-vargas.com/?p=2815 Directly from Paris, France, Ricardo talks in this podcast about the most important characteristics of project management for the development of luxury goods, where criteria like speed and cost reduction are revisited and re-contextualized to reach a market that is driven by other assumptions. He focus on the image construction and exclusivity as essential peculiarity of the functional scope (requirement) of this kind of product. A brand new dimension of the very popular triple restriction (PCT – Performance – Cost – Time).

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http://www.ricardo-vargas.com/podcasts/parisluxury/feed/ 7 7:08 Directly from Paris, France, Ricardo talks in this podcast about the most important characteristics of project management for the development of luxury goods, where criteria like speed and cost reduction are revisited and re-contextualized to reach a market that is driven by other assumptions. He focus on the image construction and exclusivity as essential peculiarity of the functional scope (requirement) of this kind of product. A brand new dimension of the very popular triple restriction (PCT - Performance - Cost - Time). Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Tragedy in Haiti: It is Time to Think in PM for Post Disaster Recovery http://www.ricardo-vargas.com/podcasts/haiti/ http://www.ricardo-vargas.com/podcasts/haiti/#comments Mon, 25 Jan 2010 03:00:11 +0000 http://www.ricardo-vargas.com/?p=2779 In this podcast Ricardo talks about the disaster that happened in Haiti on January 12, 2010, making a reflection about the facts using the Project Management perspective and how coordinated activities promoted by PM practices can bring agility to the recovery. He also approaches the PMI Methodology for Post Disaster Reconstruction, provided by PMI Educational Foundation, available at http://www.pmi.org/pmief/humanitarian/PDRM.asp.

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http://www.ricardo-vargas.com/podcasts/haiti/feed/ 3 4:32 In this podcast Ricardo talks about the disaster that happened in Haiti on January 12, 2010, making a reflection about the facts using the Project Management perspective and how coordinated activities promoted by PM practices can bring agility to the recovery. He also approaches the PMI Methodology for Post Disaster Reconstruction, provided by PMI Educational Foundation, available at http://www.pmi.org/pmief/humanitarian/PDRM.asp. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Earned Value Management System – Critical Success Factors http://www.ricardo-vargas.com/podcasts/evmscs/ http://www.ricardo-vargas.com/podcasts/evmscs/#comments Mon, 18 Jan 2010 03:00:18 +0000 http://www.ricardo-vargas.com/?p=2777 In this podcast Ricardo discuss the critical success factors of the use of earned value in projects. He presents the main areas where everybody must pay attention while using the technique and also approaches the relevance of the proper understanding of the concepts behind the numbers and how important is the project planning in order to use the EVMS.

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http://www.ricardo-vargas.com/podcasts/evmscs/feed/ 1 5:50 In this podcast Ricardo discuss the critical success factors of the use of earned value in projects. He presents the main areas where everybody must pay attention while using the technique and also approaches the relevance of the proper understanding of the concepts behind the numbers and how important is the project planning in order to use the EVMS. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Meetings Management – The Nightmare of the Project Manager – Part 2 of 2 http://www.ricardo-vargas.com/podcasts/meetings2_2/ http://www.ricardo-vargas.com/podcasts/meetings2_2/#comments Mon, 11 Jan 2010 03:00:18 +0000 http://www.ricardo-vargas.com/?p=2766 Part 2 of 2 of the podcast where Ricardo talks about one of the biggest nightmares of the project manager: the meetings. Many times bad planned and with very low effectiveness this podcast tries to show techniques and practices for meeting management, aiming to plan properly, and increase the project success rate.

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http://www.ricardo-vargas.com/podcasts/meetings2_2/feed/ 7 5:39 Part 2 of 2 of the podcast where Ricardo talks about one of the biggest nightmares of the project manager: the meetings. Many times bad planned and with very low effectiveness this podcast tries to show techniques and practices for meeting management, aiming to plan properly, and increase the project success rate. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Meetings Management – The Nightmare of the Project Manager – Part 1 of 2 http://www.ricardo-vargas.com/podcasts/meetings1_2/ http://www.ricardo-vargas.com/podcasts/meetings1_2/#comments Mon, 04 Jan 2010 03:00:15 +0000 http://www.ricardo-vargas.com/?p=2764 In this podcast Ricardo talks about one of the biggest nightmares of the project manager: the meetings. Many times bad planned and with very low effectiveness this podcast tries to show techniques and practices for meeting management, aiming to plan properly, and increase the project success rate. Part 1 of 2 podcasts.

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http://www.ricardo-vargas.com/podcasts/meetings1_2/feed/ 5 6:07 In this podcast Ricardo talks about one of the biggest nightmares of the project manager: the meetings. Many times bad planned and with very low effectiveness this podcast tries to show techniques and practices for meeting management, aiming to plan properly, and increase the project success rate. Part 1 of 2 podcasts. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Perspectives for 2010 http://www.ricardo-vargas.com/podcasts/perspectives_201/ http://www.ricardo-vargas.com/podcasts/perspectives_201/#comments Mon, 28 Dec 2009 03:00:40 +0000 http://www.ricardo-vargas.com/?p=2762 In this podcast Ricardo makes a journey to the future, talking about the main perpectives for the incoming year. Optimism and opportunities are the key words for the project managers searching new challenges. This is the last podcast of 2009.

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http://www.ricardo-vargas.com/podcasts/perspectives_201/feed/ 3 8:36 In this podcast Ricardo makes a journey to the future, talking about the main perpectives for the incoming year. Optimism and opportunities are the key words for the project managers searching new challenges. This is the last podcast of 2009. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Retrospective of 2009 http://www.ricardo-vargas.com/podcasts/retrosp_2009/ http://www.ricardo-vargas.com/podcasts/retrosp_2009/#comments Mon, 21 Dec 2009 03:00:29 +0000 http://www.ricardo-vargas.com/?p=2759 In this podcast Ricardo makes a retrospective of project management in the world in 2009. He presentes the 5 highlights of the year in project, including Portfolio Management, Crisis Management and the government participation and bailout to projects.

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http://www.ricardo-vargas.com/podcasts/retrosp_2009/feed/ 0 8:16 In this podcast Ricardo makes a retrospective of project management in the world in 2009. He presentes the 5 highlights of the year in project, including Portfolio Management, Crisis Management and the government participation and bailout to projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Organizational Success & Excellence Event in Amman – Jordan http://www.ricardo-vargas.com/podcasts/amman/ http://www.ricardo-vargas.com/podcasts/amman/#comments Mon, 14 Dec 2009 03:00:25 +0000 http://www.ricardo-vargas.com/?p=2749 In this podcast Ricardo presents the highlights of the conference realized last week in Amman, Jordan. The event discussed the association between leadership, governance, execution and strategy. Ricardo leaded the discussions about execution and projects.

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http://www.ricardo-vargas.com/podcasts/amman/feed/ 2 6:08 In this podcast Ricardo presents the highlights of the conference realized last week in Amman, Jordan. The event discussed the association between leadership, governance, execution and strategy. Ricardo leaded the discussions about execution and projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Project Manager is Not the Project Secretary http://www.ricardo-vargas.com/podcasts/managerxsecretary/ http://www.ricardo-vargas.com/podcasts/managerxsecretary/#comments Mon, 07 Dec 2009 03:00:25 +0000 http://www.ricardo-vargas.com/?p=2746 In this podcast Ricardo discusses the real role of the project manager as a decision maker. He afirms that the project manager doesn’t have the function of only generate elegant reports and preparing meetings. His/her role goes above and beyond this. The PM role is to take the right decision to lead the project to success.

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http://www.ricardo-vargas.com/podcasts/managerxsecretary/feed/ 1 5:01 In this podcast Ricardo discusses the real role of the project manager as a decision maker. He afirms that the project manager doesn't have the function of only generate elegant reports and preparing meetings. His/her role goes above and beyond this. The PM role is to take the right decision to lead the project to success. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Extend Risk Management to Also Include the Opportunities http://www.ricardo-vargas.com/podcasts/opport_mgmt/ http://www.ricardo-vargas.com/podcasts/opport_mgmt/#comments Mon, 30 Nov 2009 03:00:51 +0000 http://www.ricardo-vargas.com/?p=2744 In this podcast Ricardo presents the concept of opportunities management as part of the risk management process. He also talks about the most important strategies to respond to the “positive” risks in a project environment.

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http://www.ricardo-vargas.com/podcasts/opport_mgmt/feed/ 2 6:50 In this podcast Ricardo presents the concept of opportunities management as part of the risk management process. He also talks about the most important strategies to respond to the "positive" risks in a project environment. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
PMBOK Guide 4th Edition Process Flow http://www.ricardo-vargas.com/podcasts/pmbok4ed/ http://www.ricardo-vargas.com/podcasts/pmbok4ed/#comments Mon, 23 Nov 2009 03:00:46 +0000 http://www.ricardo-vargas.com/?p=2741 In this podcast Ricardo presents the PMBOK Guide (c) 4th Edition process flow. In the flow, the 42 processes of PMBOK are organized based on the natural project flow and not by the knowledge area. The final artwork of the flow is available for free download at www.ricardo-vargas.com (download area).

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http://www.ricardo-vargas.com/podcasts/pmbok4ed/feed/ 7 7:18 In this podcast Ricardo presents the PMBOK Guide (c) 4th Edition process flow. In the flow, the 42 processes of PMBOK are organized based on the natural project flow and not by the knowledge area. The final artwork of the flow is available for free download at www.ricardo-vargas.com (download area). Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Brazil in the Cover of The Economist Magazine and what this Relates to Proper Project Management http://www.ricardo-vargas.com/podcasts/economistcover/ http://www.ricardo-vargas.com/podcasts/economistcover/#comments Mon, 16 Nov 2009 03:00:18 +0000 http://www.ricardo-vargas.com/?p=2737 In this podcast Ricardo makes comments about the cover of the British magazine The Economist on 14 of November, 2009. The magazine presented the opportunities in Brazil and how the country is dealing with the growth. It will be a unique opportunity for superior practice of Project Management and certainly the biggest challenge for the future.

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http://www.ricardo-vargas.com/podcasts/economistcover/feed/ 2 7:01 In this podcast Ricardo makes comments about the cover of the British magazine The Economist on 14 of November, 2009. The magazine presented the opportunities in Brazil and how the country is dealing with the growth. It will be a unique opportunity for superior practice of Project Management and certainly the biggest challenge for the future. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Projects to Point Conference in Cairo – Egypt http://www.ricardo-vargas.com/podcasts/directlycairo/ http://www.ricardo-vargas.com/podcasts/directlycairo/#comments Mon, 09 Nov 2009 03:00:25 +0000 http://www.ricardo-vargas.com/?p=2732 In this podcast Ricardo talks directly from the Projects 2 Point Conference that happened from October 3rd to October 5th, 2009 in Cairo, Egypt. In the podcast he discusses the highlights of the conference, like agile, project management in oil and gas. Beyond this, Ricardo analyze the perspectives for Egypt and also Africa and Middle East as certainly the next area in the planet to register record growth in the incoming years. Great place for project management growth.

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http://www.ricardo-vargas.com/podcasts/directlycairo/feed/ 3 7:41 In this podcast Ricardo talks directly from the Projects 2 Point Conference that happened from October 3rd to October 5th, 2009 in Cairo, Egypt. In the podcast he discusses the highlights of the conference, like agile, project management in oil and gas. Beyond this, Ricardo analyze the perspectives for Egypt and also Africa and Middle East as certainly the next area in the planet to register record growth in the incoming years. Great place for project management growth. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from The Economist Innovation Award and Summit in London http://www.ricardo-vargas.com/podcasts/innovation_london/ http://www.ricardo-vargas.com/podcasts/innovation_london/#comments Mon, 02 Nov 2009 03:00:49 +0000 http://www.ricardo-vargas.com/?p=2730 In this podcast Ricardo presents the highlights of the award promoted by the British magazine The Economist for the most important innovations of the year. Ratan Tata for the low cost car “Tata Nano” and Mark Zukerberg, Facebook founder, are among the recepients. Topics of how project management is critical for innovation implementation were among the discussed items in a 2 day meeting with more than 120 people from all over the world.

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http://www.ricardo-vargas.com/podcasts/innovation_london/feed/ 0 9:08 In this podcast Ricardo presents the highlights of the award promoted by the British magazine The Economist for the most important innovations of the year. Ratan Tata for the low cost car "Tata Nano" and Mark Zukerberg, Facebook founder, are among the recepients. Topics of how project management is critical for innovation implementation were among the discussed items in a 2 day meeting with more than 120 people from all over the world. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Standards and ISO21500: Why Standards are Important for the Project Results Part 2/2 http://www.ricardo-vargas.com/podcasts/std_iso_2_2/ http://www.ricardo-vargas.com/podcasts/std_iso_2_2/#comments Mon, 26 Oct 2009 03:00:03 +0000 http://www.ricardo-vargas.com/?p=2728 In this second podcast about standards and ISO, Ricardo provides updated information about the ISO TC236 (Technical Commitee 236) that is developing the ISO 21500, which is fully dedicated to project management.

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http://www.ricardo-vargas.com/podcasts/std_iso_2_2/feed/ 10 6:55 In this second podcast about standards and ISO, Ricardo provides updated information about the ISO TC236 (Technical Commitee 236) that is developing the ISO 21500, which is fully dedicated to project management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Standards and ISO21500: Why Standards are Important for the Project Results Part 1/2 http://www.ricardo-vargas.com/podcasts/std_iso_1_2/ http://www.ricardo-vargas.com/podcasts/std_iso_1_2/#comments Mon, 19 Oct 2009 03:00:35 +0000 http://www.ricardo-vargas.com/?p=2716 In this podcast Ricardo presents and highlights the importance of the standards which aims to facilitate the project communication process. It is the first of a two podcasts series about the subject where, besides talking about standards, Ricardo provides updated information about the ISO TC236 (Technical Commitee 236) that is developing the ISO 21500, which is fully dedicated to project management.

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http://www.ricardo-vargas.com/podcasts/std_iso_1_2/feed/ 2 5:58 In this podcast Ricardo presents and highlights the importance of the standards which aims to facilitate the project communication process. It is the first of a two podcasts series about the subject where, besides talking about standards, Ricardo provides updated information about the ISO TC236 (Technical Commitee 236) that is developing the ISO 21500, which is fully dedicated to project management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the PMI Global Congress 2009 NA in Orlando USA http://www.ricardo-vargas.com/podcasts/orlando/ http://www.ricardo-vargas.com/podcasts/orlando/#comments Mon, 12 Oct 2009 03:00:19 +0000 http://www.ricardo-vargas.com/?p=2691 In this podcast Ricardo Vargas talks about the highlights of the PMI Global Congress North America that is happening in this October in Orlando – FL – USA. The congress had 2,500 attendees from 52 countries. Topics like sustainability and the 40 years of PMI were the highlights of the the congress and the PMI Awards, that was celebrated with NASA the 40 years of PMI and the 40 years of the first landing in the moon by Apollo 11.

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http://www.ricardo-vargas.com/podcasts/orlando/feed/ 10 6:17 In this podcast Ricardo Vargas talks about the highlights of the PMI Global Congress North America that is happening in this October in Orlando - FL - USA. The congress had 2,500 attendees from 52 countries. Topics like sustainability and the 40 years of PMI were the highlights of the the congress and the PMI Awards, that was celebrated with NASA the 40 years of PMI and the 40 years of the first landing in the moon by Apollo 11. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Professional Development Day in New York http://www.ricardo-vargas.com/podcasts/pdd_nyc/ http://www.ricardo-vargas.com/podcasts/pdd_nyc/#comments Mon, 05 Oct 2009 03:00:09 +0000 http://www.ricardo-vargas.com/?p=2680 In this podcast Ricardo presents the highlights of the Professional Development Day promoted by PMI New York City Chapter. He discusses topics like agile project management, talent management, value of project management and human aspects related to projects.

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http://www.ricardo-vargas.com/podcasts/pdd_nyc/feed/ 0 7:28 In this podcast Ricardo presents the highlights of the Professional Development Day promoted by PMI New York City Chapter. He discusses topics like agile project management, talent management, value of project management and human aspects related to projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The podcasts are recorded only in Portuguese? http://www.ricardo-vargas.com/faq/podcasts-recorded-only-in-portuguese/ http://www.ricardo-vargas.com/faq/podcasts-recorded-only-in-portuguese/#comments Tue, 29 Sep 2009 21:22:18 +0000 http://www.ricardo-vargas.com/?p=2674 Since April, 6th, 2009 Ricardo records his podcasts in English and Portuguese before that date all were recorded only in Portuguese.

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Differentiating the Functions of the Project Manager and the Project Management Office http://www.ricardo-vargas.com/podcasts/pmandpmo/ http://www.ricardo-vargas.com/podcasts/pmandpmo/#comments Mon, 28 Sep 2009 05:19:16 +0000 http://www.ricardo-vargas.com/?p=2666 In this podcast Ricardo talks about the misunderstanding that many professionals make about the roles of the project manager and the PMO. Many professionals assert incorrectly that the management of the project is a PMO role. He also explains the differences between the 2 roles using an analogy with a car in a road with a driver and a instrument panel.

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http://www.ricardo-vargas.com/podcasts/pmandpmo/feed/ 8 6:06 In this podcast Ricardo talks about the misunderstanding that many professionals make about the roles of the project manager and the PMO. Many professionals assert incorrectly that the management of the project is a PMO role. He also explains the differences between the 2 roles using an analogy with a car in a road with a driver and a instrument panel. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Microsoft Project Conference 2009 in Phoenix – USA http://www.ricardo-vargas.com/podcasts/mpc2009/ http://www.ricardo-vargas.com/podcasts/mpc2009/#comments Mon, 21 Sep 2009 03:00:10 +0000 http://www.ricardo-vargas.com/?p=2656 In this podcast Ricardo presents the highlights of the Microsoft Project Conference held in Phoenix-USA. The thrill of the conference was the first public exhibition of the Project 2010. See also the pictures of the new project screen at the Pictures area.

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http://www.ricardo-vargas.com/podcasts/mpc2009/feed/ 1 8:08 In this podcast Ricardo presents the highlights of the Microsoft Project Conference held in Phoenix-USA. The thrill of the conference was the first public exhibition of the Project 2010. See also the pictures of the new project screen at the Pictures area. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
7 Soft Skills for the Project Manager http://www.ricardo-vargas.com/podcasts/softskills/ http://www.ricardo-vargas.com/podcasts/softskills/#comments Mon, 14 Sep 2009 03:00:49 +0000 http://www.ricardo-vargas.com/?p=2652 In this podcast Ricardo talks again about the relevance of the soft skills for the project manager. He presents in this podcast 7 indispensable abilities to a successful Project Manager.

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http://www.ricardo-vargas.com/podcasts/softskills/feed/ 5 7:11 In this podcast Ricardo talks again about the relevance of the soft skills for the project manager. He presents in this podcast 7 indispensable abilities to a successful Project Manager. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Use of CPI and TCPI in the Earned Value Management (EVMS) http://www.ricardo-vargas.com/podcasts/cpi_tcpi/ http://www.ricardo-vargas.com/podcasts/cpi_tcpi/#comments Mon, 07 Sep 2009 03:00:57 +0000 http://www.ricardo-vargas.com/?p=2647 In this podcast Ricardo discuss the importance of TCPI (To Complete Performance Index) to evaluate the possibility of cost recovery in the project. The TCPI is the complement of CPI (Cost Performance Index) and allows the evaluation of the future financial conversion rate for the project in order to accomplish the final project budget.

It is one of the most important indexes to evaluate the possibility of project financial recovery using Earned Value Management System (EVMS).

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http://www.ricardo-vargas.com/podcasts/cpi_tcpi/feed/ 8 5:39 In this podcast Ricardo discuss the importance of TCPI (To Complete Performance Index) to evaluate the possibility of cost recovery in the project. The TCPI is the complement of CPI (Cost Performance Index) and allows the evaluation of the future financial conversion rate for the project in order to accomplish the final project budget. It is one of the most important indexes to evaluate the possibility of project financial recovery using Earned Value Management System (EVMS). Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Procurement Processes Changes in the PMBOK Guide 4th Edition http://www.ricardo-vargas.com/podcasts/newprocurement/ http://www.ricardo-vargas.com/podcasts/newprocurement/#comments Mon, 31 Aug 2009 03:00:30 +0000 http://www.ricardo-vargas.com/?p=2638 In this podcast Ricardo talks about the changes related to the Procurement processes, where some of the 6 processes described in the third edition of the PMBOK Guide were melted, resulting in 4 process at the PMBOK 4th Edition. This new structure gave more clarity and fluidity for the readers, summing up all the procurement process with the verbs “Plan”, “Conduct”, “Administer” and “Close”.

Other important aspect is the replacement of the term “contract” by the term “procurement”, giving more extend to the concepts, allowing that the processes cover the administration and closure of the the acquisitions without a “required” contract.

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http://www.ricardo-vargas.com/podcasts/newprocurement/feed/ 2 5:20 In this podcast Ricardo talks about the changes related to the Procurement processes, where some of the 6 processes described in the third edition of the PMBOK Guide were melted, resulting in 4 process at the PMBOK 4th Edition. This new structure gave more clarity and fluidity for the readers, summing up all the procurement process with the verbs "Plan", "Conduct", "Administer" and "Close". Other important aspect is the replacement of the term "contract" by the term "procurement", giving more extend to the concepts, allowing that the processes cover the administration and closure of the the acquisitions without a "required" contract. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Five Big Trends in Project Management – PM Network Report http://www.ricardo-vargas.com/podcasts/fivebigtrends/ http://www.ricardo-vargas.com/podcasts/fivebigtrends/#comments Mon, 24 Aug 2009 03:00:34 +0000 http://www.ricardo-vargas.com/?p=2625 In this podcast Ricardo discusses the III Annual PM Network Trend Report, published in June, 2009. He presents the main trends in projects induced by the global crisis and how companies and professionals can benefit themselves from this scenario. The PM Network magazine is distributed to PMI members and they can access the file at member’s area of PMI website.

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http://www.ricardo-vargas.com/podcasts/fivebigtrends/feed/ 4 7:05 In this podcast Ricardo discusses the III Annual PM Network Trend Report, published in June, 2009. He presents the main trends in projects induced by the global crisis and how companies and professionals can benefit themselves from this scenario. The PM Network magazine is distributed to PMI members and they can access the file at member's area of PMI website. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Importance of the Work Breakdown Structure (WBS) to the Project Cost Management http://www.ricardo-vargas.com/podcasts/wbs_costmgmt/ http://www.ricardo-vargas.com/podcasts/wbs_costmgmt/#comments Mon, 17 Aug 2009 03:00:29 +0000 http://www.ricardo-vargas.com/?p=2594 In this podcast Ricardo discuss the relevance of the Work Breakdown Structure (WBS) to the Project Cost Management, specifically during the budget estimating. The podcast also discuss the influence of the WBS quality to the budget quality and the difference between cost and price in a project.

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http://www.ricardo-vargas.com/podcasts/wbs_costmgmt/feed/ 8 6:23 In this podcast Ricardo discuss the relevance of the Work Breakdown Structure (WBS) to the Project Cost Management, specifically during the budget estimating. The podcast also discuss the influence of the WBS quality to the budget quality and the difference between cost and price in a project. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
I’m starting a career in Project Management. What should I do? http://www.ricardo-vargas.com/faq/im-starting-a-career/ http://www.ricardo-vargas.com/faq/im-starting-a-career/#comments Wed, 12 Aug 2009 17:20:23 +0000 http://www.ricardo-vargas.com/?p=2556 For professionals who are starting a career in project management, Ricardo prepared many podcasts to support them.
To listening the podcast about beginning of career click on:
http://www.ricardo-vargas.com/podcasts/beginningofcareer/

See also the Podcasts Special Lists, with specially selected podcasts: http://www.ricardo-vargas.com/playlists/

Look at PMI’s website (www.pmi.org), information on the certifications offered by the institution.
Ricardo prepared 4 podcasts about certification click on the following links:
http://www.ricardo-vargas.com/podcasts/capm/
http://www.ricardo-vargas.com/podcasts/pmppart1/
http://www.ricardo-vargas.com/podcasts/pmppart2/
http://www.ricardo-vargas.com/podcasts/pmppart3/

Usually those who are starting a career in Project Management needs to work experience, find work in a PMO or work with a project manager to better understand the PM.
Approach to PMI chapter of your region and candidate as volunteer. Make a masters degree in project management.

Learning another language is always good, especially English or Spanish. The project management using the standard PMI is known worldwide for those who have this knowledge, the possibility to work in other countries is great.

It’s always good to be part of mailing lists on project management.
Ricardo has a very good book on Project Management which is the ” Practical Guide to Project Planning”. For details, see in http://www.ricardo-vargas.com/books/

On this site there are several videos and documents in the Downloads Center, which contains information on project management, check out the link below:
http://www.ricardo-vargas.com/downloads/

The books and articles are also available in Issuu and Slideshare.

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Where can I find the DVD Excellence in Projects? http://www.ricardo-vargas.com/faq/where-can-i-find-the-dvd/ http://www.ricardo-vargas.com/faq/where-can-i-find-the-dvd/#comments Wed, 12 Aug 2009 17:15:12 +0000 http://www.ricardo-vargas.com/?p=2583 The DVD Excellence in Projects was the version of Project 2002 and is available in the Downloads Center, in Portuguese, English and Spanish. To access it, click on the link: http://www.ricardo-vargas.com/downloads/

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Where can I find books of Ricardo Vargas to buy? http://www.ricardo-vargas.com/faq/where-can-i-find-books/ http://www.ricardo-vargas.com/faq/where-can-i-find-books/#comments Wed, 12 Aug 2009 17:12:53 +0000 http://www.ricardo-vargas.com/?p=2581 To learn where to find the books, visit http://www.ricardo-vargas.com/books/ and click on “details” of each book.

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Where can I find the old podcasts? http://www.ricardo-vargas.com/faq/where-can-i-find-the-old-podcasts/ http://www.ricardo-vargas.com/faq/where-can-i-find-the-old-podcasts/#comments Wed, 12 Aug 2009 17:11:04 +0000 http://www.ricardo-vargas.com/?p=2579 All podcasts recorded by Ricardo Vargas is available on the site. The first podcast was done on January 13, 2007 and since then, every week Ricardo has a new subject. Go to
http://www.ricardo-vargas.com/podcasts/ to listen to the podcasts.

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What is the password to access the CD from the book “Practical Guide”? http://www.ricardo-vargas.com/faq/what-is-the-password/ http://www.ricardo-vargas.com/faq/what-is-the-password/#comments Wed, 12 Aug 2009 17:03:07 +0000 http://www.ricardo-vargas.com/?p=2570 A password doesn’t exist to unlock the product. They will be automatically installed and then lose the validity of the assessment period. To access the information, leave the username and password blank.

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Which courses in Project Management do you can indicate me? http://www.ricardo-vargas.com/faq/quais-os-cursos-de-gestao-de-projetos/ http://www.ricardo-vargas.com/faq/quais-os-cursos-de-gestao-de-projetos/#comments Wed, 12 Aug 2009 15:29:49 +0000 http://www.ricardo-vargas.com/?p=2591 In Brazil, the courses of FGV and Fia/USP in Project Management are excellent. Abroad two of the top universities for courses in Project Management are Stanford (http://stanford.edu/) and George Washington (http://www.gwu.edu/).

Ricardo made a podcast where he talks about the MBA and PMP certification, you follow the link to listen to the podcast:
http://www.ricardo-vargas.com/podcasts/mbapmp/

Here also the link on the top of career:
http://www.ricardo-vargas.com/podcasts/beginningofcareer/

With respect to distance courses, we do not know MBA in Project Management which is offered by web.

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Seal, Madonna and U2 Concert – A Project Management Concert http://www.ricardo-vargas.com/podcasts/madonna/ http://www.ricardo-vargas.com/podcasts/madonna/#comments Mon, 10 Aug 2009 03:00:07 +0000 http://www.ricardo-vargas.com/?p=2553 In this podcast Ricardo describes his experience at the Madonna, U2 and Seal concerts. Much more than a musical concert, what he saw was an impeccable project management show.

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http://www.ricardo-vargas.com/podcasts/madonna/feed/ 4 6:04 In this podcast Ricardo describes his experience at the Madonna, U2 and Seal concerts. Much more than a musical concert, what he saw was an impeccable project management show. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Changes Regarding Preliminary Scope Statement and Collect Requirements at PMBOK 4th Edition http://www.ricardo-vargas.com/podcasts/escopopreliminar/ http://www.ricardo-vargas.com/podcasts/escopopreliminar/#comments Mon, 03 Aug 2009 03:00:21 +0000 http://www.ricardo-vargas.com/?p=2549 In this podcast Ricardo talks about the changes related to the Integration and Scope Management at the PMBOK Guide 4th editon. He discuss the removal of the process related to the preliminary scope statement and the insertion of the process to collect requirements as the first process of scope management. Moreover, Ricardo analyses the reasons, the implications and the benefits of the change.

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http://www.ricardo-vargas.com/podcasts/escopopreliminar/feed/ 4 5:10 In this podcast Ricardo talks about the changes related to the Integration and Scope Management at the PMBOK Guide 4th editon. He discuss the removal of the process related to the preliminary scope statement and the insertion of the process to collect requirements as the first process of scope management. Moreover, Ricardo analyses the reasons, the implications and the benefits of the change. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
2014 FIFA Soccer WorldCup in Brazil http://www.ricardo-vargas.com/podcasts/2014worldcup/ http://www.ricardo-vargas.com/podcasts/2014worldcup/#comments Mon, 27 Jul 2009 03:00:58 +0000 http://www.ricardo-vargas.com/?p=2505 Podcast that Ricardo return back to the project management needs to the 2014 Soccer WorldCup in Brazil. The podcast was recorded in order to complement the interview that he gave to the brazilian magazine Amanhã (tomorrow). If you are interested in access the full interview at http://issuu.com/ricardo.vargas/docs/interview-amanha-newspaper. Interview in Brazilian Portuguese.

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http://www.ricardo-vargas.com/podcasts/2014worldcup/feed/ 6 7:25 Podcast that Ricardo return back to the project management needs to the 2014 Soccer WorldCup in Brazil. The podcast was recorded in order to complement the interview that he gave to the brazilian magazine Amanhã (tomorrow). If you are interested in access the full interview at http://issuu.com/ricardo.vargas/docs/interview-amanha-newspaper. Interview in Brazilian Portuguese. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
PMI Pulse Survey http://www.ricardo-vargas.com/podcasts/pmipulse/ http://www.ricardo-vargas.com/podcasts/pmipulse/#comments Mon, 20 Jul 2009 03:00:44 +0000 http://www.ricardo-vargas.com/?p=2492 Know the Project Management market behavior and the main trends at the PMI Pulse Survey.

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http://www.ricardo-vargas.com/podcasts/pmipulse/feed/ 1 4:32 Know the Project Management market behavior and the main trends at the PMI Pulse Survey. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Project Versus Routine http://www.ricardo-vargas.com/podcasts/projectxroutine/ http://www.ricardo-vargas.com/podcasts/projectxroutine/#comments Mon, 13 Jul 2009 03:00:32 +0000 http://www.ricardo-vargas.com/?p=2480 Podcast that Ricardo presents and discuss in 5 minutes the main concepts and differences of projects and routine, talking in a practical way the limits that discriminate the routine work and project work.

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http://www.ricardo-vargas.com/podcasts/projectxroutine/feed/ 4 6:08 Podcast that Ricardo presents and discuss in 5 minutes the main concepts and differences of projects and routine, talking in a practical way the limits that discriminate the routine work and project work. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Economist Talent Management Conference in London 2 of 2 http://www.ricardo-vargas.com/podcasts/tmc2/ http://www.ricardo-vargas.com/podcasts/tmc2/#comments Mon, 06 Jul 2009 03:00:18 +0000 http://www.ricardo-vargas.com/?p=2451 In this podcast Ricardo Vargas talks about the highlights of the conference promoted by the British magazine The Economist in London that he attended last week. At the event companies like Google, Thomson Reuters, British American Tobacco, Mark & Spencer and others shared the main challenges to search for talent and develop human resources. Great project management insights. Part 2 of 2.

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http://www.ricardo-vargas.com/podcasts/tmc2/feed/ 2 7:25 In this podcast Ricardo Vargas talks about the highlights of the conference promoted by the British magazine The Economist in London that he attended last week. At the event companies like Google, Thomson Reuters, British American Tobacco, Mark Spencer and others shared the main challenges to search for talent and develop human resources. Great project management insights. Part 2 of 2. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Economist Talent Management Conference in London 1 of 2 http://www.ricardo-vargas.com/podcasts/tmc1/ http://www.ricardo-vargas.com/podcasts/tmc1/#comments Mon, 29 Jun 2009 03:00:50 +0000 http://www.ricardo-vargas.com/?p=2425 In this podcast Ricardo Vargas talks about the highlights of the conference promoted by the british magazine The Economist in London that he attended last week. At the event companies like Google, Thomson Reuters, British American Tobacco, Mark & Spencer and others shared the main challenges to search for talent and develop human resources. Great project management insights. Part 1 of 2.

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http://www.ricardo-vargas.com/podcasts/tmc1/feed/ 1 5:39 In this podcast Ricardo Vargas talks about the highlights of the conference promoted by the british magazine The Economist in London that he attended last week. At the event companies like Google, Thomson Reuters, British American Tobacco, Mark Spencer and others shared the main challenges to search for talent and develop human resources. Great project management insights. Part 1 of 2. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
The Cost of Quality http://www.ricardo-vargas.com/podcasts/costofquality/ http://www.ricardo-vargas.com/podcasts/costofquality/#comments Mon, 22 Jun 2009 03:00:30 +0000 http://www.ricardo-vargas.com/?p=2420 In this podcast Ricardo Vargas talks about the concept of quality vs. the costs included to deliver the quality. He shows that the costs related to the creation of attributes that aren’t perceived by the client are a direct waste of capital. On the other side, the costs related to the production of real value that is perceived by the client are considered an investment in the project quality.

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http://www.ricardo-vargas.com/podcasts/costofquality/feed/ 7 6:10 In this podcast Ricardo Vargas talks about the concept of quality vs. the costs included to deliver the quality. He shows that the costs related to the creation of attributes that aren't perceived by the client are a direct waste of capital. On the other side, the costs related to the production of real value that is perceived by the client are considered an investment in the project quality. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Using the Quadratic Average (Mean) in the Qualitative Risk Analysis http://www.ricardo-vargas.com/podcasts/quadraticmean/ http://www.ricardo-vargas.com/podcasts/quadraticmean/#comments Mon, 15 Jun 2009 03:00:03 +0000 http://www.ricardo-vargas.com/?p=2414 In this podcast, Ricardo Vargas talks about the qualitative risks analysis, sharing a model to qualify better the project risks using an qualitative analysis with numeric quantitative results by using the quadratic average calculation, allowing a simple and efficient approach for risk management.

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http://www.ricardo-vargas.com/podcasts/quadraticmean/feed/ 3 6:58 In this podcast, Ricardo Vargas talks about the qualitative risks analysis, sharing a model to qualify better the project risks using an qualitative analysis with numeric quantitative results by using the quadratic average calculation, allowing a simple and efficient approach for risk management. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Are All Project Managers the Same to All Projects? http://www.ricardo-vargas.com/podcasts/allthesame/ http://www.ricardo-vargas.com/podcasts/allthesame/#comments Mon, 08 Jun 2009 03:00:47 +0000 http://www.ricardo-vargas.com/?p=2238 In this podcast Ricardo talks about the main characteristics of project managers and discuss if this characteristics should be the same to all kind of projects and if should exist some kind of technical specialization in the subject or not in order to execute the proper project planning and control.

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http://www.ricardo-vargas.com/podcasts/allthesame/feed/ 5 5:19 In this podcast Ricardo talks about the main characteristics of project managers and discuss if this characteristics should be the same to all kind of projects and if should exist some kind of technical specialization in the subject or not in order to execute the proper project planning and control. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Agile Project Management and Scrum 2 of 2 http://www.ricardo-vargas.com/podcasts/agile2_2/ http://www.ricardo-vargas.com/podcasts/agile2_2/#comments Mon, 01 Jun 2009 03:00:41 +0000 http://www.ricardo-vargas.com/?p=2225 This week Ricardo continues the talk about agile project management and Scrum. In this podcast, Ricardo shows his perceptions about the use of agile and how this can be used in conjunction with PMBOK Guide and other aprroaches to a successful Project Mangement practice. Second podcast about the subject.

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http://www.ricardo-vargas.com/podcasts/agile2_2/feed/ 28 8:24 This week Ricardo continues the talk about agile project management and Scrum. In this podcast, Ricardo shows his perceptions about the use of agile and how this can be used in conjunction with PMBOK Guide and other aprroaches to a successful Project Mangement practice. Second podcast about the subject. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Agile Project Management and Scrum 1 of 2 http://www.ricardo-vargas.com/podcasts/agile1_2/ http://www.ricardo-vargas.com/podcasts/agile1_2/#comments Mon, 25 May 2009 11:00:14 +0000 http://www.ricardo-vargas.com/?p=2220 This week Ricardo introduces one of the most requested themes for podcasts, talking about agile project management and Scrum. First of a series of 2 podcasts about the subject. He had an initial contact with Agile and Scrum and tries in this podcast to talk a little more about how Agile and Scrum work. It is important to emphasize that Ricardo is not an specialist in this subject. The objective of this podcast is to introduce to non specialists in Agile and Scrum the main concepts involved in the technique. He also perpetrate a small error in the podcast when he affirms that the term Scrum is from the American Football. The correct definition of Scrum is from the Rugby game.

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http://www.ricardo-vargas.com/podcasts/agile1_2/feed/ 22 9:20 This week Ricardo introduces one of the most requested themes for podcasts, talking about agile project management and Scrum. First of a series of 2 podcasts about the subject. He had an initial contact with Agile and Scrum and tries in this podcast to talk a little more about how Agile and Scrum work. It is important to emphasize that Ricardo is not an specialist in this subject. The objective of this podcast is to introduce to non specialists in Agile and Scrum the main concepts involved in the technique. He also perpetrate a small error in the podcast when he affirms that the term Scrum is from the American Football. The correct definition of Scrum is from the Rugby game. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the PMI Global Congress EMEA 2009 in Amsterdam http://www.ricardo-vargas.com/podcasts/amsterdam/ http://www.ricardo-vargas.com/podcasts/amsterdam/#comments Mon, 18 May 2009 21:40:20 +0000 http://www.ricardo-vargas.com/?p=2200 In this podcast Ricardo Vargas presents the highlights of the PMI Global Congress EMEA 2009 in Amsterdam – Netherlands. Topics like the Chaos Theory, politics and finance in project, creativity and Agile are the most discussed topics in a congress with 600 attendees from 48 countries.

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http://www.ricardo-vargas.com/podcasts/amsterdam/feed/ 1 6:49 In this podcast Ricardo Vargas presents the highlights of the PMI Global Congress EMEA 2009 in Amsterdam - Netherlands. Topics like the Chaos Theory, politics and finance in project, creativity and Agile are the most discussed topics in a congress with 600 attendees from 48 countries. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Program of Negotiations of Harvard University – Part 3/3 http://www.ricardo-vargas.com/podcasts/harvard3/ http://www.ricardo-vargas.com/podcasts/harvard3/#comments Mon, 11 May 2009 15:45:27 +0000 http://www.ricardo-vargas.com/?p=1998 In ths podcast, Ricardo Vargas presents the third podcast from a series of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge – MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People.

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http://www.ricardo-vargas.com/podcasts/harvard3/feed/ 0 5:54 In ths podcast, Ricardo Vargas presents the third podcast from a series of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge - MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Earned Value Analysis in the Control of Projects: Success or Failure? http://www.ricardo-vargas.com/articles/earnedvaluecontrol/ http://www.ricardo-vargas.com/articles/earnedvaluecontrol/#comments Thu, 07 May 2009 13:38:09 +0000 http://www.ricardo-vargas.com/?p=1577

Accepted for publication at

AACE – Association for Advancement of Cost Engineering 47th Annual Meeting
Orlando – Florida – USA – 2003

PMI College of Performance Management Measurable News Magazine
Arlington – Virginia – USA – 2003

Related Podcasts

Abstract

The objective of this paper is to present and discuss the main obstacles and benefits of the use of the Earned Value Analysis in projects, including factors to be improved and implemented during the project plan and actions to be taken while the project is accomplished and controlled. Also, through a real case study in civil construction field, the applicability of the technique is faced with a theoretical reference, in order to identify aspects of the applicability of the tool tested in case study. The results to be presented and discussed are subdivided in two parts:

The first one is about the different features of each business and its contribution for the success or failure in the implementation of the Earned Value Analysis, and the second is about the characteristics of similarity found in all businesses that together favor or not the use of the tool.

Earned Value Analysis as a Control Technique

Many studies about the applicability of the Earned Value Analysis have been made. THAMHAIN (1998) tried to evaluate the popularity of different practices of project management. Surveys were made with 400 professionals who work with projects (managers, directors, people in charge) in 180 projects in Fortune-1000 companies. They were asked about the popularity and value of different techniques of performance evaluation. As a result, he could see that the Earned Value Analysis is used by 41% of people who work with projects. It is more used than critical path method, QFD (quality function deployment) and Crashing, among others. The Earned Value Analysis is almost as popular as the net PERT/CPM.

Concerning the value of the technique, the results found for Earned Value Analysis are fitted in a layer of little value, staying below practically all techniques analyzed, what infers that the popularity of the technique doesn’t seem to show its applicability or value.

Trying to justify the low value proved by researchers, THAMHAIN (1998) states that little applicability found as a result in the studies made, can be attributed to different barriers, either being internal or from the environment. They are

  • lack of comprehension of how the technique works;
  • anxiety concerning the adequate use of the tool;
  • use of the tool requiring a lot of work and time consumption;
  • tools trimming creativity in the use of other strategies;
  • inconsistency of the tool in managerial procedures / businesses processes;
  • method of control as threat, concerning the freedom of the team;
  • vague and inaccurate purpose and its benefit;
  • high cost of its implementation;
  • unsuccessful prior experience in the use of other techniques;
  • low familiarity with the technique.

WIDEMAN (1999) states that a project of great importance requires a unit of planning and control that has professionals capable of collecting the information and making the Analysis of Added Value, turning its applicability justifiable.

CHRISTENSEN (1998) states, in his studies about the applicability of Added Value in govern organizations in the United States, that the implementation of Earned Value requires a cultural change, which demands time and effort. This means to make sure that policies and knowledge are taught by the organization and by the project in order to quicken the work of the ones involved.

To Sparrow (2000), the Earned Value Analysis enables a supplementary value to the project because it offers a premature visibility of its results, in other words, it is possible to determine a tendency of costs and deadlines of the project in a certain phase of it, when there is still a possibility of implementation of corrective actions.

On the contrary, WEST & MCELROY (2001) agree that the Earned Value Analysis is an adequate tool for the generation of reports of work done, and not a managerial tool, since the control in real time of the project, using all parameters of analysis becomes unviable: “the Earned Value Analysis shows to the project team the performance obtained until then, and not the future forecast of the project.”

WIDEMAN (1999) supports that the technique is conceptually attractive, however it requires great efforts in its maintenance, therefore it needs a qualified team to understand and provide reliable information. He also states that many project managers don’t consider the analysis an appropriate cost-benefit ratio.

From those opposite points of view, we may imply that the Earned Value Analysis is a group of powerful intrinsic characteristics, wide and varied, like payment projection and forecasting. However, it is bound to find great difficulty in either data collection or in the low speed of information generation.

These considerations may mean that, if the data collection is made in adequate speed and accuracy, and the information is correctly compiled accomplishing the deadlines, the analysis has its applicability widely enlarged. Otherwise, it will not add much to the process of project control.

TERREL et al (1998) states that, in order to make the Earned Value Analysis effectively implemented, it is necessary to have the information about the resources clearly defined. A failure in obtaining these data, motivate the creation of inaccurate performance measurement baseline (PMB), distant from the real scenario.

FLEMING & KOPPELMAN (1999) state, also that another difficulty factor is about an adequate work breakdown structure (WBS). If the work is subdivided in small packages of work, it will represent a high cost of control and a lot of paperwork. On the other hand, a badly stratified subdivision may represent an inaccuracy of data, concerning real costs and deadlines.

This confirmation may be proved in the low application of the Earned Value Analysis in technology and marketing areas, where the creative work is the variant in a scope previously defined, making its application limited and directly related to the stability of a defined scope, according to PETERSON & OLIVER (2001).

They state that, the more short-term projects grow, with reduced team and a generically defined scope, the more the Earned Value Analysis, according to Instruction 5000. 2R (DOD, 1997) and by ANSI/EIA 748, is not viable, due to inaccurate projections, consequence of a badly defined scope and to high costs noticed by the entrepreneurs.

Case Study

The company researched belongs to a sector of civil construction, which applies project management in a steady way. It is a segment that most invests in researches and new tools in this field. Furthermore, it is the only one on the market that admits publicly the use of Earned Value Analysis in its process of construction control.

This company is the 11th in the national segment of heavy construction. It is also part of the three biggest groups in the segment in the country and a leader in other segments of the economy, such as government work and telecommunications. It has been on the market for more than 50 years. Its turnover in 2001 was about US$200,000,000 with 80 engineers and about 4000 workers in its personnel.

Concerning the case study, everything started through a process of interview in which three professionals from the southeast business planning unit of the company, gave their opinion about the process in a wide and clear way. These professionals were the first ones to be interviewed, because they have developed the construction control system using the Earned Value Analysis.

After analyzing the issues discussed by the first interviewees, a new series of interviews was made, based on a new open line of interviews, with construction managers and the ones in charge of planning departments of each construction site. At this moment, the objective was to test the planning practices, analysis and gathering of data in different levels, aiming to find possible distortions, conceptual flaws, resistance and work style in the use of Earned Value Analysis in the construction sites.

In a third and final moment, the final result of the projects (deadlines and costs) was faced with the values computed for the Earned Value Analysis that were under the responsibility of the planning unit of the company. From that combination between interview results and the data available in the company, we tried to get evidence that could link the success or failure of the business to maturity in the use of Earned Value.

Concerning the evaluated construction sites, they were categorized by the company as medium-sized and average technique complexity constructions, which will be finished by the end of this work.

Results

The results to be presented and discussed in this section are about different characteristics of each construction site and its contribution to the success or failure in the implementation of the Earned Value Analysis. The second part is about the traces of similarity found in the construction sites and the general conclusions about the case study.

The results obtained in the process of interview and the combination of real data provided by the planning department, as seen before, were significantly different in each business.

From these different characteristics (Table 1), the main factors are presented and evaluated in each construction site, just like the final result concerning the fidelity of the results and the preliminary conclusions.

The factors evaluated have been presented in the discussion and analysis of each construction site, and they are: scope, deadlines and schedules, budget process, type of contract, type of client, partners and/or consortiums, organizational support, support by the client, geographic distribution of work, the presence of outsourced staff, use and knowledge of the indexes and models of projection provided by the tool.

As we can see, after analyzing table 1, we may conclude that the implementation of construction site one was successful and of construction site three was a failure. Both results are not necessarily product of an isolated factor, but from lots of linked factors.

Characteristic

Construction site one

Construction site two

Construction site three

Scope

Clearly detailed and specified

Defined preliminary, detailed as the project is done

Detailed and specified satisfactorily (not in the same level of construction site one )

Deadlines and schedules set up

Closed and previously defined according to clear schedules to be followed

Open with schedules to be defined while duties are accomplished

Closed, but with significant changes throughout the project, result of problems linked to lack of financial funds.

Budget process

Structured through CAP’s allowing the adequate use of the tool

Traditional, not based on the Analysis of Added Value

Traditional, not based on the Analysis of Added Value

Type of contract

Fixed price. Not adjustable

One price

One price

Type of client

Private

Public

Public

Partnerships and/or consortiums

Nonexistent

Nonexistent

Consortium with another contractor that has the construction being controlled by the company evaluated

Organizational Support

High

Moderate to low

Moderate

Support by the client

High

Moderate

Moderate to low

Geographic distribution of work

Concentrated geographically

Concentrated geographically

Distributed in 150Km of groups of work

Presence of outsourced staff

None

None

High

Use of knowledge of indexes and models of projections provided by the tool

Moderate to low

Low

Low

Loyalty to official results presented with real results

High

Moderate to low

Low

Preliminary conclusion about the success of the implementation

Partial success

Partial failure

Failure

It is not possible to conclude that the unsatisfactory results found in construction site three are linked to the existence of a consortium or to an inadequate geographic distribution of work. This failure is a consequence of a group of many unfavorable characteristics, which contributed to unexpected results.

On the other hand, evaluating construction sites one and two, we find characteristics in construction site two that are significantly closer to those in construction site one. However, the main difference found was the lack of detailing of scope, which consequently made the budget process unsatisfactory. We may conclude that it was one of the main factors that made the results different (see Table 1).

Similarities have been found in all three projects evaluated. They are related to the process of interview and obtained results.

Initially, we may conclude that there are factors linked to the organizational structure and to the management model of the company that could affect directly the fidelity of results. Therefore, it is necessary to investigate deeply about the influence in organizational structure in the use of the tool.

Also, concerning organizational aspects, the ones in charge of construction sites planning, questioned the need of a high number of indexes, and mentioned that the determination of performance indexes was redundant.

A preliminary evaluation of these considerations, allows us to conclude, at first, that the Earned Value Analysis as we can see in all of the three projects, may show a high use of excessive indexes, superior of the management potential of a construction site. That could make the construction site impossible, result of low priority in the process and unnecessary use of indexes.

The opinion of the interviewees about the real value of the tool was unanimous. They all agree that the Earned Value Analysis is a great step for the improvement and introduction to a more modern mechanism of construction site control. This would confirm the first result of THAMHAIN’S (1998) study about how popular the technique is, however, in the same study (THAMHAIN, 1998), they all agree that the conditions of market and the necessity of a quicker generation of results, made the dedication to the use of the tool, difficult, proving the low value of the technique presented in the study of THAMHAIN (1998).

According to prior quotations, we can also see that in all three cases, there was an active participation of the planning departments of the business unit. However, this participation was different in each construction site. We can imply that the success of construction site 1, concerning the implantation of the tool, is directly linked to a strong presence of the professionals of planning department.

Therefore, we may conclude that, very often, the efforts of the construction site team are divided in many different groups, and the team dedicates to the tool, directly used by top executives to evaluate the businesses. As a result, the dedication to other competitive tools is ignored or left behind, as seen in Earned Value Analysis in projects two and three.

In construction site one, this process inverted. In this project, the Earned Value Analysis was the main mechanism of construction site control. It gathered all the necessary support to be successful. Finally, we may conclude that the case study proved the characteristics of the projects that favor the use of the tool and the use of others which show to be difficult in the process.

It was also proved that the implementation of the Earned Value Analysis is a complex process that involves several aspects, since the kind of business until its organizational structure, its scope, its geographic distribution and the relationship with the client, among others, that deserve a more detailed study.

Conclusions

From this paper, we may conclude that the Earned Value Analysis is a powerful tool in the control of performance evaluation. However, most of the projects have insufficiently detailed scope, staff with little experience in the use of the tool and a natural dissociation in the control of costs and deadlines. These elements make the results questionable to a necessary effort.

We may also conclude that the results are not very obvious in short-term basis. They will only be evidenced in future phases of the project, especially in cost reduction of operations and rework.

As a third conclusion, we may see that, in projects of clearly defined scope, or in contracts with price and work established, the Earned Value Analysis shows a favorable cost-benefit ratio. Other element that might favor the application of the tool is the qualification of project teams in the use of the tool and the organizational support, which allows the tool to be simplified to meet the specific needs of the project and the organization.

To sum up, the combinations of the conclusions obtained from the analysis of the theoretical reference, with the case study are shown as follows.

Nature of the project – the application of the Earned Value Analysis can be considered more successful in projects of clear and tangible objectives, with a detailed scope, simple and direct. This type of project presents better results in the use of the analysis, as evidenced in the case study (construction site one). Projects with incomplete final products or services, or projects that involve aspects of creativity that make a precise plan impossible, show high inviability in the use of the technique. Since the planning has not been established, the date of performance can be determined (construction sites two and three).

Scope definition – from empirical evidence obtained from the evaluated construction sites and based on theoretical discussions presented in the theoretical reference, we may imply that the facility or difficulty concerning detailing and specification of scope, permits the tool to be favored or disfavored, since a tangible scope, controllable and detailed provides better specification of the work to be made. Consequently, it facilitates the process of measurement of real and added values. The establishment of tangible, controllable and detailed scope is a process that comes from the nature of the project and from the model of business established (contract, type of client, etc). Therefore, a strong dedication to the process of development of the scope improves results in the use in the Earned Value Analysis.

Informality in management and resistance to changes – we can see in the case study that the informality in the control of project is high, and resistance found in the implementation of a new model of control exists and cannot be ignored. This resistance is associated to a perception that the planning work and control rise in an unjustifiable way, when using the tool. Trying to associate both factors, ANTVIK (1998) states that the resistance comes from a cultural process of informality in the control of projects. In this way, it is implied that it is necessary to create a different work of management of changes, for example the training of management of projects, workshops, an efficient support of the professionals of this area, with prizes and bonuses. Everything aims to minimize the resistance found in the implementation and to favor the project environment.

Attractively and value of the technique – Based on the evidence of the case study and on researches presented on theoretical reference, we can say that the Earned Value Analysis is considered by the ones who have already used it or known it, as attractive and complete. However, this fact is not true, concerning the use of the technique. The interviewees and several authors that were cited and in this theoretical reference agree that the technique demands a strong effort that, if not analyzed widely, should not have good results. This consideration justifies the results presented on the research of THAMHAIN (1998).

Training – The Earned Value Analysis suggests a cultural change in the process of projects control, therefore people who have experience in dealing with the tool are really necessary in this process. Moreover, it is also necessary a process of intense training, in order to reduce the resistance to its implementation that comes originally from a low technical knowledge of the tool.

Organizational support – The way an organization implements the tool, influences directly the results. As seen empirically in the case study, the construction site one, that had an organizational support, provided by specialized resources, had better results in terms of application. However, the organizational support, has a cost that has to be determined and accounted, otherwise the obtained results might be distorted.

References

ANTVIK, L. C. S. (1998). Earned value Management – a 200 Year Perspective. Long Beach: 29th Annual Project Management Institute Seminars & Symposium.

CHRISTENSEN, D. S. (1998). The Cost and Benefits of the Earned value Management Process. Acquisition Review Quarterly.

DOD (1997). Earned value Management Implementation Guide. Washington: United States of America Department of Defense

FLEMING, Q. W. & KOPPELMAN, J. M. (1999). Earned value Project Management, 2nd Ed. Newton Square: Project Management Institute.

PETERSON, C. D. & OLIVER, M. E. (2001). EV-Lite – Earned value Control for Fast Paced Projects. Nashville: 32th Annual Project Management Institute Seminars & Symposium.

SPARROW, H. (2000). EVM = Earned value Management Results in Early Visibility and Management Opportunities. Houston: 31st Annual Project Management Institute Seminars & Symposium.

TERREL, M. S., BROCK, A. W., WISE, J. R. (1998). Evaluating Project Performance Tools – A Case Study. Long Beach: 29th Annual Project Management Institute Seminars & Symposium.

THAMHAIN, H. J. (1998). Integrating Project Management Tools with the Project Team. Long Beach: 29th Annual Project Management Institute Seminars & Symposium.

WEST, S. M & MCELROY, S. (2001). EVMS: A Managerial Tool vs. a Reporting Tool. Nashville: 32th Annual Project Management Institute Seminars & Symposium.

WIDEMAN, R. M. (1999). Cost Control of Capital Projects and the Project Cost Management Systems Requirements. 2ª ed. Vancouver: AEW Services e BiTech Publishers.

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Directly from the Program of Negotiations of Harvard University – Part 2/3 http://www.ricardo-vargas.com/podcasts/harvard2/ http://www.ricardo-vargas.com/podcasts/harvard2/#comments Mon, 04 May 2009 06:20:10 +0000 http://www.ricardo-vargas.com/?p=1842 In this podcast, Ricardo Vargas presents the second podcast from a series of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge – MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People.

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http://www.ricardo-vargas.com/podcasts/harvard2/feed/ 2 4:59 In this podcast, Ricardo Vargas presents the second podcast from a series of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge - MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Directly from the Program of Negotiations of Harvard University – Part 1/3 http://www.ricardo-vargas.com/podcasts/harvard1/ http://www.ricardo-vargas.com/podcasts/harvard1/#comments Mon, 27 Apr 2009 23:13:34 +0000 http://www.ricardo-vargas.com/?p=1785 In ths podcast, Ricardo Vargas presents the first podcast from a serie of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge – MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People.

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http://www.ricardo-vargas.com/podcasts/harvard1/feed/ 1 5:06 In ths podcast, Ricardo Vargas presents the first podcast from a serie of three podcasts recorded directly from the Program of Negotiations of Harvard University in Cambridge - MA, where he attended the courses of Negotiations for Senior Executives and Dealing with Difficult People. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Murphy Law and the Projects http://www.ricardo-vargas.com/podcasts/murphy/ http://www.ricardo-vargas.com/podcasts/murphy/#comments Mon, 20 Apr 2009 06:42:05 +0000 http://www.ricardo-vargas.com/?p=1852 In this podcast Ricardo talks about the effects of pessimism and the Murphys Law inside the projects.

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http://www.ricardo-vargas.com/podcasts/murphy/feed/ 5 6:28 In this podcast Ricardo talks about the effects of pessimism and the Murphys Law inside the projects. Podcasts Ricardo Viana Vargas, MSc, CSM, PRINCE2® Practitioner, PMI-RMP, PMI-SP, PMP no No
Identifying and Recovering Troubled Projects: How to Rescue your Project From its Failure http://www.ricardo-vargas.com/articles/recoveringtroubledprojects/ http://www.ricardo-vargas.com/articles/recoveringtroubledprojects/#comments Wed, 15 Apr 2009 01:36:08 +0000 http://www.ricardo-vargas.com/?p=804

Accepted for publication at

Project Management Technology Magazine
Beijing – China – 2011

PMI Global Congress Asia Pacific
Hong Kong – China – 2007

Mundo PM Magazine
Curitiba – PR – Brazil – 2006

Related Podcasts

Abstract

The purpose of this article is to conceptualize and identify troubled projects and allow their evaluation and possible recovery, minimizing the impact of the negative effects in the event of a total failure. The word recovery, as used here, has a meaning that is different than usual. It does not mean leading the project to the intended success from the planning phase but to minimize total failure.

Currently there are lots of papers and studies on project management tools, methodologies, strategies, and processes. All these efforts are intended to enable and prepare project managers and their teams to ensure the success of their projects. BERRY (2002) complements this concept saying that virtually all the methodological patterns of projects are an important knowledge base on how to properly conduct a project, completing the work within its deadline, and with high-quality deliverables.

However, the reality that many project managers make evident is significantly different. In fact, even the most experienced project manager end up as acting as a “firemen” to their projects, trying at any cost to solve the problems and the difficulties found along the road.

These “Troubled Projects” are a reality in the worldwide business scenario; most of the times, dealing with a troubled project is a particularly challenging task for the project manager and his or her team. These projects require, for different reasons, specific attention and care.

Finally, the article deals with lessons learned with troubled projects and how to use them to avoid future problems.

Definition of Troubled Project

A troubled project can be defined as a project where the difference between what is expected and what has been accomplished exceeds the acceptable tolerance limits, pushing into a course that will inevitably lead to failure.

By assessing the nature of the projects, we can say that any project is characterized by a challenge, whether for its intrinsic complexity or its short deadline or low cost. To this regard, any project requires a level of control and management different from usual engagements, many times demanding a differentiated effort from the project manager and his/her team.

However, when the variances exceed an acceptable limit of tolerance we have a troubled project that requires a specific effort. In this case, a specific approach strategy becomes necessary, by defining a possible recovery or even deciding for an early termination.

projeto problematico

Exhibit 01 – Continuous sequence of troubled projects (ESI, 2005).

It is important to note that troubled projects are not failed projects. Failed projects are unrecoverable, since the highest level of loss possible has been reached. On the other hand, the troubled project has a possibility of being recovered although it shows strong indications that if it is not managed in a specific manner it can quickly deteriorate and become unfeasible.

When we use the term “recover”, what we mean is that there is a chance of recovery and not that the recovery is simple or easy. Exhibit 02 shows some of the erroneous perceptions regarding troubled projects.

projeto problematico e e nao eExhibit 02 – Erroneous perceptions on troubled projects.

Identifying and Assessing a Troubled Project

A troubled project always presents indicative factors that might help recognize it as a problem. Some aspects related to stakeholders, project resources, documentation, and the triple constraint (scope, cost, and schedule) allow us to get a quick, direct perception of the problem degree the project is in, as shown in Exhibit 03.

Evidencias de que um Projeto está ProblematicoExhibit 03 – Mindmap of the indicators of a troubled project. Based on SAROKIN (2005), WU (2000), and WARD (2003).

Although the aforementioned warnings are quite straightforward, it is important to highlight that none of them indicates that a project is an isolated problem. Most of the times, they operate together and indicate, in several ways, that there is a problem with the project.

In addition to the warnings listed before, a set of vital signs and qualitative assessment models can be built to develop a more accurate criterion on the real vitality of the project. KAMPUR (2001) says that the vital signs are measured by the variance between current status of the project and the values as planned, as shown in the example in Exhibit 04.

Vital Sign

Variance

Score

Percent variance between actual and planned schedule

< 10%

0

10-20%

1

> 20%

2

Percent variance between actual and budgeted cost

< 10%

0

10-20%

1

> 20%

2

Percentage of contractual deliverables completed on schedule

> 90%

0

80-90%

1

< 80%

2

Percent variance between resources actually used and budgeted resources

< 10%

0

10-15%

2

> 15%

4

Number of risk events with high probability and high impact

1-3 Risks

1

4-5 Risks

3

Above 6 Risks

5

ESI International (ESI, 2005) developed an assessment process of troubled projects based on a process of interviews, analysis and consolidation of results that allow us to assess the problem’s potential and the chances of recovering the project. The process is highlighted in Exhibit 05. In this process the participation of the main stakeholders and their personal perceptions are the key to the success of a possible recovery of the project.

projeto problematico 2Exhibit 05 – Troubled project assessment model (ESI, 2005).

Several other models can be developed to identify scenarios in each organization. However, all these models should include a brief, quick, direct assessment; otherwise, when a project is identified as a problem it might be too late to recover it.

Project Recovery vs. Project Termination

Once the troubled project is assessed, we have to make the decision of aborting or recovering the project. Different factors may influence this process, but some basic considerations have to be observed. LONG (2003) proposes five key questions that should be considered to decide if the project will be recovered or aborted, as follows:

  1. 1. How important is the project for the sponsor, the stakeholders, and the organization?
  2. 2. Can the project continue as planned and defined or does it need to be completely redefined?
  3. 3. The organizational impacts and the resource needs for the recovery are feasible to produce the desired recovery?
  4. 4. Is there a need for political support so that the project can be recovered?
  5. 5. Are you (the project manager) personally motivated and interested to do what needs to be done to recover the project?

As a complement to the five previous questions, several factors can evidence that there is no chance of recovering the project. The most common factors are as follows:

  • Business benefit to be generated by the business cannot be delivered
  • The political environment is no longer sustainable
  • There is no longer a project sponsor and there is no apparent capacity to replace them
  • The business needs have changed
  • There have been significant changes in technology
  • Contractual or judicial dispute in progress that makes the project unfeasible
  • Market conditions have changed

If you decide to discontinue the project, its early termination can be carried out in two different ways, each with its own level of complexity, speed, and stress.

STEWART & SHEREMETA (2000) assessed the different drivers and impacts involved in the early termination of a project. They say that there are basically four ways to terminate a project, as follows:

  • Addition – Discontinue the project by adding the work to be performed and all its resources to a larger project.
  • Absorption – Discontinue the project having another project absorbing the work of the troubled project, without the resources and infrastructure accompanying the work.
  • Inanition – Discontinue the project by inanition (starvation), with the resources that sustain the project no longer being supplied, and the project being terminated due to complete lack of resources.
  • Extinction – Discontinue the project by extinguishing it, with an immediate cancellation action being taken, and the project ceasing to exist and only the work already completed and that can possibly be used is recovered.

In order to group all these concepts, we developed the flow chart in Exhibit 06, starting with the problem assessment up to the possible recovery strategies and the early termination of the project.

projeto problematico 3Exhibit 06 – Flow chart of the decision-making process identification regarding a troubled project.

Regarding the decision on project recovery or termination, we should emphasize that there is no formula or quantification to suit all projects, in all organizations. Many times the search for the desired results can include the cancellation or anticipated termination of a project.

Developing the Recovery Plan

When a recovery strategy for a project is prepared, many say that it is not important to know what drove the project to its current status but rather to see what can be done and will be done to pull it out of that situation. However, this statement is incorrect. It is very hard to have a correct recovery strategy without knowing the facts that created the problem. Particularly, if the drivers are not eliminated, the project might be recovered in the short term, but with time it can fall back into the same critical stage it was before the recovery process.

Another important issue is that recovering a project is to save the loss and restore its usefulness, preventing the project’s total failure (ESI, 2005). Thus, when we intend to recover a project we are not discussing the full recovery of the project, but the avoidance of its total failure.

Basically, recovery consists of readjusting the basics of the scope, schedule, and costs and resources of the project, which is methodologically known as the project’s triple constraint, as shown in the project triangle in Exhibit 07.

9209.png

Exhibit 07 – Project’s triple constraint (scope, schedule, and cost).

The proposals below can be discussed and assessed based on these constraints.

Option 1 – Reducing the project scope, maintaining the planned budget and schedule. This process can save parts of the project that may survive without full scope, as shown in Exhibit 08.

9222.pngExhibit 08 – Project recovery by reducing scope.

Option 2 – Maintaining project scope, inflating project costs and maintaining the planned schedule. Usually this process is used when project scope cannot be reduced and the interest in results outweighs the shortfall caused by an increase in costs (Exhibit 09).

9232.pngExhibit 09 – Project recovery by increasing available budget.

Option 3 – Maintaining project scope by extending project deadlines and the budget forecast. Usually this is used when schedule is not essentially critical for the project, where a slowdown may avoid an increase in cost, thus allowing us to maintain the scope (Exhibit 10).

9241.pngExhibit 10 – Project recovery by extending schedules.

Option 4 – The project is totally redefined, thus creating a new relationship between scope, schedule, and cost, with only portions of the original projects scope. Usually this is used when options 1 to 3 are not considered as appropriate (Exhibit 11).

9250.pngExhibit 11 – Full redefinition of the project, using part of the results obtained.

The four options shown above are the foundations for any type of recovery. All other types and solutions proposed are but variations resulting from one of these options.

In addition to this resizing of the triple constraint, several other actions should be taken to ensure that the recovery attains the expected success. In these cases, it is necessary not only an radical change in planning or in project requirements, but also a radical change in the behavior of the people. LONG (2003) mentions various actions that the project manager and the team should take to ensure the success of the recovery plan, as follows:

  • Restructure the project team and/or increase the controls over the work.
  • Politically consolidate the project with its sponsor, company executives, and stakeholders, searching for broad, unrestricted support.
  • Create a solid communication program with a positive message in connection with the changes.
  • Conduct and maintain an optimistic attitude and environment and, hoping for success.
  • Ensure the personal commitment to assure the success of the recovery strategy.

Recovery Plan Success Factors and Lessons Learned

When conducting the assessment of the troubled project and its possible recovery it is possible to say that some of the lessons learned need to be presented again:

  • Always prioritize. There is never time or money to solve all problems.
  • Be aggressive. Look for the problem and find the solutions.
  • Proactivity. Do not wait for problems to be solved on their own.
  • Establish accountability lines. Know who is responsible for what within the project.
  • Worship experience. The authority to make decisions should be transferred to the most experienced person and not necessarily to the highest hierarchical position.
  • Find the problems. Try to identify the problems in a structured way and as a team, thus avoiding that the project be found due to its problems.
  • Do not micromanage. Details prevent the whole from being easily identified.
  • The real problem may not be evident. It is not always that what needs to be solved is what is more apparent in the project. Check what is behind the curtains.
  • Look for and assess the impacts.
  • Never miss opportunities. An opportunity lost can be one of the biggest problems for the project.
  • Poor decisions hurt. Making a wrong decision is as harmful for the project as not deciding at all.
  • Contextualize opinions. Outside opinions need to be inside a context and must be integrated.

Finally, it is important to break the cycle that created the problem. You should always remember the rules of Newton’s Law. This law states that objects in motion tend to stay in motion unless an outside force opposes them.

Conclusions

Preventing a project from becoming a challenge requires proactive action. First of all, recognizing that a problem exists is itself already a problem. The article “Why Bad Projects Are So Hard to Kill”, published by Isabelle Royer in the Harvard Business Review in 2003 (ROYER, 2003) has, in its own title, the search for more answers on the difficulty to assess and solve problems. She says that this is due to an unconditional belief that the project, even when going through stages of complete chaos, will overcome the obstacles and be a success in the future. This perception is contagious; everyone ends up believing that in the future a “miracle” might occur and transform the project in a huge success.

Unfortunately, reality always proves to be the opposite of a “miracle”. If we look again figure 1, we will note that when the ones involved really accept that there is a problem, then the problem no longer exists. Now, it is a failure.

Therefore, when are faced with a troubled project, the first thing to do is to accept that there is a problem and quickly identify its magnitude, and the actions that should be immediately taken.

In a project this close to danger, any day lost is a day that will never be recover.

References

BERRY, D. (2002). Your Project is in Trouble! Now What? San Antonio: Project Management Institute Global Congress United States.

ESI International. (2005). Rapid Assessment and Recovery of Troubled Projects. Arlington: ESI International.

HARVEY, J. B. (1996). The Abilene Paradox and Other Meditations on Management. New York: Jossey-Bass.

KAMPUR, G. K. (2001). How to Kill a Troubled Project. San Ramon: Center for Project Management.

LONG, S. P. (2003). Succeeding With Troubled Projects. Baltimore: Project Management Institute Global Congress 2003.

ROYER, I. (2003). Why Bad Projects Are So Hard to Kill. Boston: Harvard Business Review.

SAROKIN, M. (2005). 10 Indicators of a Troubled Project. EDS Next Big Thing Blog.

STEWART, W. M. & SHEREMETA, P. W. (2000). Will You Be Terminated Today. Houston: Project Management Institute Global Congress 2000.

VARGAS, R. V. (2004). Using Earned Value Management Indexes as a Team Development Factor and a Compensation Tool. Prague: Project Management Institute Global Congress EMEA.

WARD, J. L. (2003). There is a Signpost Up Ahead! Recognizing and Dealing with Project Warning Signs. Baltimore: PMI Global Congress North America 2003.

WU, J. (2000). Business Intelligence: Top 10 Warning Signs of a Troubled BI Project. DM Review Online website (www.dmreview.com).

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Managing ERP Implementation Using Basic Software Tools and Web Based Scheduling Control http://www.ricardo-vargas.com/articles/managingerp/ http://www.ricardo-vargas.com/articles/managingerp/#comments Wed, 15 Apr 2009 01:00:00 +0000 http://www.ricardo-vargas.com/?p=818

Abstract

This paper presents a fast, inexpensive and safe process to plan and monitor ERP implementation processes like SAP R3. Based in concrete experiences at industrial unities of multinational companies, the process is considered simple and effective to control this kind of dynamic projects.

(ERP) Enterprise resource planning

The systems for Enterprise Resource Planning, known as ERP, are a set of interdependent elements organized into a single and complex whole that seeks to capture and globally manage the business. Due to the complexity of the implementation and to the dynamics of the business environment, it is necessary to ensure that the deadlines, the scope, and the costs of the projects are guaranteed, with the lowest cost control possible. The main stages of the process are described below, with suggestions for fast, inexpensive and safe implementation, based on our concrete experience at industrial units of multinational companies.

The main processes are:

  • Team division and stratification.
  • Implementation Methodology, Definition of Scope and Deadlines
  • Preparation of Network Environment and Creation of Resource Pool
  • Definition of the Web Environment
  • Consolidating the Macro Project and Integrated Management

Team division and stratification

The first step in the solution is to stratify the teams, taking as a base the Communications Planning and the company organizational structure. Three levels are created for the project control. They are: production, production management, and coordination (Exhibit 1).

Exhibit 1 – Team stratification for project control

Exhibit 1 – Team stratification for project control

Implementation Methodology, Definition of Scope and Deadlines

Most of the time the methodology to be used in the implementation is that developed by the actual software manufacturer, such as ASAP for SAP R3 (Exhibit 2).

accelerated-sap

Exhibit 2 – Accelerated SAP Implementation Assistant for project scope definition.

The level of detail of the methodology, which will be universally applied in all of the modules, should be defined together with the implementers, as well as structuring the generic content of the work that will be controlled by the project, and creating a basic Work Breakdown Structure for all of the modules.

From there, each module is detailed until the work packages are established. The work packages are controlled by the project teams themselves and, upon being completed, reflect the execution of the methodology activity.

The group, using mainly the expert judgment of consultants and implementers, determines the deadlines for each work package. A fundamental consideration is the simultaneous execution of the methodology activities in each module. For example, the prototyping of the financial and production planning, etc., should be carried out in parallel. If a module has completely different features from the rest, which impedes it from fitting in with the standard methodology, it will be developed separately and consolidated after the other modules, as is the case of the Basis group of SAP R3 (Exhibit 3).

Exhibit 3 – Structure of Implementation in Parallel and objects for Global Project.

Exhibit 3 – Structure of Implementation in Parallel and objects for Global Project.

Preparation of Network Environment and Creation of Resource Pool

Parallel to the group work in the modules, a computer network infrastructure is created for remote management. Taking advantage of the computers made available for the project team, a set of directories is created at the server, which will file the projects relative to each group in distinct folders, with access control possible for each user . Each team will have user access to the server, separated by groups of users, with access privileges defined beforehand.

All of those users will constitute part of the pool of resources that will now be created as a new project file containing a list of the system users, as well as a set of all the other resources to be used in the project. The list should include the E-mail addresses of each resource so that the electronic mail server directs the messages, thus installed in that same server. With the pool defined, every project file of every module is linked to the pool of resources, creating a network.

The greatest benefit of this structure is the centralized management of the team and the better visualization of the effort and the availability of each resource of the pool, independently of which module it actually belongs to. With the links established, it becomes necessary to allocate the resources in the project activities, allowing all of the responsibilities within each module to be established (Exhibit 4).

integrated-resource

Exhibit 4 – Integrated Resource Pool control.

Definition of the Web Environment

The web environment is created through a web server to be installed in the server. All information about the project can be published as a web page using pre-defined Web Pages (Exhibit 5).

Exhibit 5 – Web page with general information about a functional group in SAP/R3.

Exhibit 5 – Web page with general information about a functional group in SAP/R3.

Through mail box programs for the web, which are included in most project management software, such as Team Inbox of MS Project 98, they are installed in the computers of production members of the project so that these can update their activities without having to directly access the project management software, saving the need to acquire software user licenses and making it much easier to update the team (Exhibit 6)

microsoft-team

Exhibit 6 – Microsoft Team Inbox for Project Control by e-mail in a Web Environment

These results suggest an apparent gain according to the scores obtained by these participants, although the study must be deepened with other groups and other companies to produce a working result that is more scientifically proven.

Consolidating the Global Project and Integrated Management

Finally the project files of each module are consolidated, filtered, and classified, forming a global file of the project that incorporates and compares the modules item by item, allowing the total control of the project, at the detail level desired and to the extent necessary, with a simple mouse command (Exhibit 7 and 8).

global-project

Exhibit 7 – Global Project View

integrated-cost

Exhibit 8 – Integrated Cost in Global Project

Conclusions

The greatest objective of this study was to find an inexpensive, simple, and viable way that can be employed to set up complex and large scale ERP systems, without causing any loss of reliability in regard to how it functions and the failures of the programs.

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Avoiding Mistakes During the Team Acquisition: Find the Right People to the Right Function Using MBTI© http://www.ricardo-vargas.com/articles/avoidingmistakes/ http://www.ricardo-vargas.com/articles/avoidingmistakes/#comments Tue, 14 Apr 2009 23:58:15 +0000 http://www.ricardo-vargas.com/?p=557

Abstract

This article presents a vision of the models of preferences presented by the Myers Briggs Type Indicator© (MBTI) and its application for the Staff Acquisition. Using the comprehension of the relation between the 16 MBTI Types with the main project Management functions, is possible to attribute functions inside the project in concordance with the individual preferences, increasing the motivation of the team and reducing potentials conflicts and problems in the project.

Team acquisition in the project

The project human resources area is one of the PMBOK Guide 3rd (PMI 2004) knowledge areas that the manager and project team have requested more attention.
As reported in the Guide, the Project Human Resources Management includes the processes required to make the most effective use of human resources involved with the project. It includes all project stakeholders: sponsors, customers, individual contributors and others. The main processes are described below and Exhibit 1 provides the mind map of the processes.

  • Human Resources Planning – Identifying and documenting project roles, responsibilities, and reporting relationships, as well as creating the staffing management plan.
  • Acquire Project Team – Obtaining the human resources needed to complete the project.
  • Develop Project Team– Improving the competencies and interaction of team members to enhance project performance.
  • Manage Project Team – Tracking team member performance, providing feedback, resolving issues, and coordinating changes to enhance project performance.

Exhibit 1 – Human Resources Management Processes.

Exhibit 1 – Human Resources Management Processes

These processes interact with each other and with the process in the other knowledge areas. Each process may involve effort from one or more individuals or groups depending on the needs of the project.
The staff acquisition approached in this paper involves the increase of the capability to find the most adequate professional to each project function (VARGAS, 2004).

Myers-Briggs Type Indicator® (MBTI®)

The purpose of the Myers-Briggs Type Indicator® (MBTI®) personality inventory is to make the theory of psychological types described by C. G. Jung understandable and useful in people’s lives. The essence of the theory is that much seemingly random variation in the behavior is actually quite orderly and consistent, being due to basic difference in the way individual prefer to use their perception and judgment.
The Myers-Briggs Type Indicator® was developed by Isabel Briggs Myers and her mother, Katharine Cook Briggs, to make C.G. Jung’s theory of psychological type practical and useful in people’s lives.
With MBTI® people learn to identify their characteristics, their points of strength and development and the kinds of work more adequate to their type, special abilities and expectations. MBTI® also indicates how relationships and aptness can be developed for personal as well as for organizational success.
MBTI® further indicates:

  • How to improve interpersonal relationships
  • How to improve the ability to lead with efficiency
  • How to deepen self-knowledge
  • How to create more productive and participating work teams
  • How to endow your organization with higher patterns of efficiency and productivity

The MBTI ® test is applied by CPP (Center for Applications of Psychological Type) through a questionnaire with 93 multiple choice questions, tabulated through a data bank with millions of people who have already used MBTI®. The result is presented with 4 letters that picture the exercise of the individual preferences regarding perception and judgment, as follows:

  • E or I – Where the person prefers to focus his/her attention (Extroverts or Introverts)
  • S or N – How the person obtains information about things (Sensors or Intuitives)
  • T or F – How the person takes decisions (Thinking or Feeling)
  • J or P – How the person guides him/herself regarding the world (Judging or Perceiving)

The Internet has a series of tests available to MBTI®, such as the sites http://www.humanmetrics.com and http://bloginality.love-productions.com.

The Sixteen Types 1

By combining the individual preferences we have the sixteen psychological Types. Isabel Briggs Myers has prepared a basic set of characteristics for each of these types, as will be presented below.

Exhibit 1 – Sixteen Psychological Types (©Consulting Psychologists Press Inc.).

Exhibit 2 – Sixteen Psychological Types (©Consulting Psychologists Press Inc.)

1 Excerpted from Introduction to Type by Isabel Briggs Myers published by CPP. Inc.

ISTJ – Quite, serious, earn success by thoroughness and dependability. Practical, matter-of-fact, realistic, and responsible. Decide logically what should be done and work toward it steadily, regardless of distractions. Take pleasure in making everything orderly and organized – their work, their home, their life. Value traditions and loyalty.

ISFJ – Quiet, friendly, responsible, and conscientious. Committed and steady in meeting their obligations. Thorough, painstaking, and accurate. Loyal, considerate, notice and remember specifics about people who are important to them, concerned with how others feel. Strive to create an orderly and harmonious environment at work and at home.

INFJ – Seek meaning and connection in ideas, relationships, and material possessions. Want to understand what motivates people and are insightful about others. Conscientious and committed to their firm values. Develop a clear vision about how best to serve the common good. Organized and decisive in implementing their vision.

INTJ – Have original minds and great drive for implementing their ideas and achieving their goals. Quickly see patterns in external events and develop long-range explanatory perspectives. When committed, organize a job and carry it through. Skeptical and independent, have high standards of competence and performance – for themselves and others.

ISTP – Tolerant and flexible, quiet observers until a problem appears, then act quickly to find workable solutions. Analyze what makes things work and readily get through large amounts of data to isolate the core of practical problems. Interested in cause and effect, organize facts using logical principles, value efficiency.

ISFP – Quiet, friendly, sensitive, and kind. Enjoy the present moment, what’s going on around them. Like to have their own space and to work within their own time frame. Loyal and committed to their values and to people who are important to them. Dislike disagreements and conflicts; do not force their opinions or values on others.

INFP – Idealistic, loyal to their values and to people who are important to them. Want an external life that is congruent with their values. Curious, quick to see possibilities, can be catalysts for implementing ideas. Seek to understand people and to help them fulfill their potential. Adaptable, flexible, and accepting unless a value is threatened.

INTP – Seek to develop logical explanations for everything that interests them. Theoretical and abstract, interested more in ideas than in social interaction. Quiet, contained, flexible, and adaptable. Have unusual ability to focus in depth to solve problems in their area of interest. Skeptical, sometimes critical, always analytical.