F2024 Leading Projects Week 11 PDF

Leading Projects in an Conte Organizational xt BUSN Week 11 10276 Sandra Napoleone  Today All things project – how to start , project funding, approvals Project Communications & Stakeh...

Leading Projects in an Conte Organizational xt BUSN Week 11 10276 Sandra Napoleone  Today All things project – how to start , project funding, approvals Project Communications & Stakeholder management Assignment review #2 2  All things project What do you know about project funding? What do you know about project approvals? 3  All things project Today - business have money to maintain the organization day to day (d2d) that includes: Salary for employees (combination f/t, p/t, contract Building maintenance (taxes, hydro, cleaning, landscape, snow removal etc) Tomorrow (next year) - Year after year, money is set aside eg d2d plus 5% (increases in salaries maintenance). Also put aside to an emergency fund (just in case) Future(next year and the years after) - there is also a reserve fund (savings) for future work that is known or being planned for. 4  All things project In what ‘account’ are projects funded from (usually)? Today, tomorrow or the future accounts? Answer : Tomorrow and the future What happens if a project needs to be done today? Do we need approval? What account does the money come from? 5  All things project If we are thinking about projects we are planning for tomorrow and future projects. Where do we start? What do we need to start with? What should we have as we start? 6  All things project Remember how to start a project In the resources module and posted in week 2 there was a high level view of how to start a project. Key things we should always know before we begin a project or when we are joining a project (new, or inflight) Who is the project sponsor and who are the key stakeholders Is there a project charter (scope, time, cost) FUNDING and PROJECT APPROVAL 7  All things project Does the charter clearly explain the goals, objectives, and how this project fits into the overall objectives for the area? Are requirements signed-off, are they started, how do we get them ? Is that possible? Are there external participants involved? How will we manage that? Is that accounted for in the charter? 8  All things project Ensure that the business needs and how this project aligns to the business needs is well defined. Do we understand how this project fits into the priorities of the organization and how the project advances the objectives of the organization. Does the project team report to me (the pm) or to a functional manager? What project structure do we have? Communication plan to be created and maintained. What are the expectations from the various stakeholders for how communication is 9 handled in this project?  Let's answer the question… If most projects come from the tomorrow and the future accounts. What account is used for projects that need to done today ? In terms of project starts is the process to start the project any different than tomorrows and the future’s project? NO… we still need approval and funding from the leadership team(sponsor) 10  Question For project funding Does it matter if we are in tall or flat organizational structure? Does it matter if we working in a functional, matrix or divisional for project funding? For project approvals Does it matter if we are in tall or flat organizational structure? Does it matter if we working in a functional, matrix or divisional for project funding? 11  Question No Approvals will always be at a senior most level and funding will be accounted for at a senior most level(finance dept with leadership) 12  Summary Important that you are clear and challenging, that the project is approved and funded If funding becomes challenging then its important for the leadership team to review the projects approved and determine what projects are stopped, cancelled or otherwise Otherwise meaning ‘reduction’ in scope 13  Communication The importance of communication has been discussed over the course of the past few months In project management communications is our superpower and our kryptonite. It’s also a vital part of stakeholder management, let’s see how. 14 Communication challenges The pace at which organizations have adopted remote work requires project managers to rethink flexible-work policies and the implication of scope, time, cost, productivity, recruitment and retention. This is challenging given many project managers themselves are getting used to the new way of working and are struggling with decision fatigue, fast paced changes and leading teams through this work disruption. 15  Formal Communication Channels Information from various sources is a widely used formal mode of communication. eg intranet, email, town halls, various levels of leadership meetings, investor meetings, use Facebook, LinkedIn, Insta, X, corporate websites(internal IT platforms for sharing and retention) Goal is to provide consistent, accurate, timely and relevant information for the organization. Provide a central, common place for employees to find what they need amidst sea of digital information. Where most current and secure information is stored in line with CORPORATE IT SECURITY 16  Informal Communication Channels Network of contacts and connections outside of formal channels Communities of Practice(COP) - specialists share knowledge and ideas amongst their peers in and outside the organization 'Shadow Organization' - underground of who you know and knows who and who knows what? Grapevine – can be perceived as gossipy in nature, rumour mill ‘Manage by walking the floor’ - chance encounters are between leadership and employees. Management by walking around can solicit valuable information. 17 Communication Channels (# of channels) n x (n-1)/2 n = number of people 18  Communication Crisis Management Many companies have developed formal communication channels for managing crises, such as fires, major or minor service disruptions. To keep internal and external parties informed and well aware of what is happening Crucial part of disaster plan(business continuity planning – BCP) is how to communicate with employees during a crisis, how often, what form of communications, by whom. Multinational companies have made extensive use of intranets and social media to communicate with their employee base. 19  Communication Flow Downward - Flow of messages down the organization(top to bottom) Upward - Messages from lower to higher levels; includes open-door policy for complaints.(bottom to top) Horizontal - Messages at same organization level; basis for collaboration.(across) Diagonal - Messages sent to higher or lower organizational levels in different departments. (across departments, divisions) Many and ALL which ways that serve the stakeholders, leadership team and project team 20  Managing Stakeholders Stakeholders include individuals, groups or organizations. External Suppliers Customers End users Regulatory bodies Governing bodies PMO’s Steering committees Internal PM Project team mittees Project mgmt. team Internal Core Source PMBOK V7.0 section 2 Project performance domain 21  Managing Stakeholders Stakeholder – an individual or group that may affect or be affected by or perceive itself to be affected by a decision activity or outcome or a project program or portfolio Stakeholder analysis – method of systemically gathering and analyzing quantitative and qualitative information to determine whose interest should be taken into account throughout the project Source PMBOK V7.0 section 2 Project performance domain 22  Stakeholder Engagement 1. Identify Stakeholder 6. Monitor activities start 2. Understand before or when the project starts and continues throughout the project. 5. Engage 3. Analyze 4. Prioritize **An ongoing process with actions repeated, starting with identify and ending with monitor. Will need attention with any changes in the project (scope, time, cost) ** Source PMBOK V7.0 section 2 Project performance domain 23  Stakeholder Management Identify – this can help prior to project start and you may be adding/removing stakeholders through the life of the project Understand and Analyze – seek to understand feelings, emotions, biases, beliefs and values. Consider power, impact, attitude, expectations, degree of influence, interest in project Prioritize – based on analysis and feedback focus on stakeholders with most power and interest as a way to prioritize engagement Engage – work collaboratively and introduce the project, elicit requirements, manage expectations, look for verbal and non-verbal clues 24 Monitor – review with frequency the if the current Stakeholder Management Managing expectations in project delivery is quite challenging, understanding the following things will help BUT this is not a complete list. Who is the project sponsor (ideally not a committee) Who is the key decision maker? What is the reporting structure in the organization and how does it impact your project? What are the non - negotiables in the organization? How do you find them out? You will need to build relationships and understand the underlying landscape in the organization so 25 that you have the appropriate level support to help  Project Reporting In your communications plan you will identify and clearly understand the needs of the stakeholders and the standards the organization will have on project reporting. Be aware of who needs what? When ? And who is going to provide the report AND the data within any given report. The project manager is most often responsible for the reporting but sometimes the data comes from other sources. 26  Summary All things project – how to start , project funding, approvals Regardless of structure type all projects must be approved by the appropriate level within the organization. Generally, speaking funding is available as most projects are to be delivered tomorrow or in the future Project Communications & Stakeholder management Key parts are that you should know who needs to get what and who your key 27 stakeholder is  Assignment #2 You will read an article on Leader or Coach that will be provided and will answer 2 questions The assignment is worth 10 marks and will be available Fri Nov 22nd Due Fri Dec 6th NO exceptions, not sent ZERO 28  Next week Virtual class Team Dynamic Building High Performing Teams Exam review for final 29