Podcast
Questions and Answers
What is a key benefit of effective engagement project management for both buyers and sellers?
What is a key benefit of effective engagement project management for both buyers and sellers?
- Increased project complexity
- Reduction in project timelines
- Lower procurement costs through single-source contracts (correct)
- Enhanced competitive bidding processes
Which of the following is NOT a responsibility commonly associated with engagement managers?
Which of the following is NOT a responsibility commonly associated with engagement managers?
- Developing long-term relationships with customers
- Maintaining customer retention
- Overseeing daily project tasks (correct)
- Facilitating communication between teams
How should business solution providers tailor their consultation approach?
How should business solution providers tailor their consultation approach?
- They must align their methodology with the client's business model and strategy. (correct)
- They should focus solely on metrics that highlight financial performance.
- They should apply a universal methodology across all clients.
- They ought to use their own developed metrics without client input.
Which statement best describes the relationship dynamics between buyers and sellers in project management?
Which statement best describes the relationship dynamics between buyers and sellers in project management?
In project management mature organizations, which practice is crucial for sharing knowledge?
In project management mature organizations, which practice is crucial for sharing knowledge?
What potential risk is associated with hiring external consultants for project management?
What potential risk is associated with hiring external consultants for project management?
What role does the project manager primarily play in client engagement?
What role does the project manager primarily play in client engagement?
What must engagement managers and project managers do to enhance customer satisfaction effectively?
What must engagement managers and project managers do to enhance customer satisfaction effectively?
What is a key factor that companies must demonstrate in their proposal to compete effectively in a global environment?
What is a key factor that companies must demonstrate in their proposal to compete effectively in a global environment?
How has the role of sales and marketing in project management changed today compared to decades ago?
How has the role of sales and marketing in project management changed today compared to decades ago?
What is highlighted as a necessity in current proposals issued by clients?
What is highlighted as a necessity in current proposals issued by clients?
What must sales teams be able to sell as part of their engagement with clients?
What must sales teams be able to sell as part of their engagement with clients?
Engagement project management aims to create what type of relationship with the client?
Engagement project management aims to create what type of relationship with the client?
What aspect of project management methodology is emphasized as important in client proposals?
What aspect of project management methodology is emphasized as important in client proposals?
What outcome do engagement project management methodologies strive to achieve for both the buyer and seller?
What outcome do engagement project management methodologies strive to achieve for both the buyer and seller?
What challenge did project managers face from inherited projects in the past?
What challenge did project managers face from inherited projects in the past?
What role does governance play in project management?
What role does governance play in project management?
How has the client-seller relationship changed with the shift towards engagement project management?
How has the client-seller relationship changed with the shift towards engagement project management?
What is a key requirement for effective governance in project management?
What is a key requirement for effective governance in project management?
Which description best fits the role of engagement managers in project management?
Which description best fits the role of engagement managers in project management?
What aspect is crucial for informed decision making in project management?
What aspect is crucial for informed decision making in project management?
What evolution has occurred in the way companies like IBM view their business model?
What evolution has occurred in the way companies like IBM view their business model?
What is a defining feature of governance in modern project management?
What is a defining feature of governance in modern project management?
Which approach is NOT a characteristic of effective project management today?
Which approach is NOT a characteristic of effective project management today?
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Study Notes
Engagement Project Management
- Engagement project management is a strategic competency for companies in the global marketplace.
- It involves building strong relationships with clients and providing ongoing support for them.
- Engagement project management benefits both the buyer and the seller.
- It helps companies:
- save on procurement costs
- maintain customer retention
- develop value-driven client relationships
Project Management Capability
- To compete globally, companies must demonstrate superior project management capability.
- Clients demand the following in proposals:
- Number of Project Management Professionals (PMP) in the company
- Evidence of an enterprise project management methodology
- Willingness to customize the methodology to fit the client’s environment
- Maturity level of project management in the company
- A best practices library for project management
The Role of Sales and Marketing
- Sales and marketing roles now include understanding and selling project management to clients.
- They should be able to sell the company's project management methodology and best practices.
Engagement Managers and Project Managers
- Engagement managers and project managers work together to maintain customer satisfaction.
- Engagement managers focus on building relationships and creating value.
- Project managers focus on delivering the project on time and within budget.
Governance
- Governance provides consistent policies, processes, and decision-making rights in project management.
- It aims to prevent undesirable decisions and ensure effective project management.
- Governance can be provided through a committee or as part of project management leadership.
- A good project management information system (PMIS) is essential for effective governance.
Paperless Project Management
- Project management relies on information systems for making informed decisions.
- Legacy systems have been replaced with modern information systems.
Business Solution Providers
- Companies that offer business solutions need to demonstrate superior project management capability.
- They should provide a business solution that aligns with the client’s business model and strategy.
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