Project Management - Risk Management

There are some factors to consider when identifying risk in a project. A risk is known as some future happening that results in a change in the environment. It has associated with it a loss that can be estimated, a probability that the event will occur, which can be estimated, and a choice on the projects manager's part as to what to do, if anything, to mitigate the risk and reduce the loss that will occur.

During the project planning process, the risk assessment which is normally completed during the development of the Business Case is reviewed and updated by the project team. Risk assessment is formalized subjective assessment of the probability of project success. Risk assessment has an obvious impact on the management style, team structure, use of methodology, strategies for system development, and, most importantly, the business decision to approve the project.

Simply, the greater the risk of the project, the higher the probability that estimates, schedules, and planning will be incorrect and that the project will move "out of control". The risk of a project can be established by considering the following criteria;

Project Management - Risk Management

What are the risks? What is the probability of loss that results from them? How much are the losses likely to cost? What might the losses be if the worst happens? What are the alternatives? How can the losses be reduced or eliminated? Will the alternatives produce other risks?

The business decision is to assess how the expected loss compares to the cost of defraying all or some of the loss and then taking the appropriate action.

It is mandatory that, throughout the system development process and especially during project planning, the project manager consider these project risk criteria using a formal questionnaire and develop a risk mitigation list. If the project manager considers the combination of any of these factors is significant and contributes to the degree of risk of the project, he or she is encouraged to consider the following actions;

Take steps to limit the scope of the project to reduce its complexity Document the areas of complexity in the Project Plan and allow for additional time/resources Raise a formal Risk Memorandum that details the high-level factors, identifies their possible impact and actions/options available to reduce that impact or reduce the risk factor.

It is imperative that the management of project risk is seen as a proactive process. For example, prior to the commencement of the full development cycle, the project manager should negotiate with the Steering Committee, key stakeholders and sponsor to minimize the high-risk factors.

To increase the likelihood of project success, the project team must put in place a program that identifies risks and steps to mitigate that risk. The management and minimization of project risk is the responsibility of all involved parties in the project.

Project Management - Risk Management
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CER1projectmanagement has been involved with Project Management since 1996, and has completed many varied and complex projects for both small and large organisations.

http://www.cer1projectmanagement.com provide informative articles, templates and other resources on everything you'll ever need to know about Project Management.

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7 Tips For Effective Financial Management

In some organisations, managers and leaders fall into the trap of believing that financial management is something that the accounts team are fully responsible for. While there will be areas like cash management, payroll, paying suppliers and collecting payments from customers that are likely to be handled by the accounts team, financial management falls into the remit of all managers and leaders. Mangers often have concerns about this area, often believing that it is difficult and complex. The truth is that if you are an expert in your area of the business, you can excel in financial management. So what are my key tips?

Tip 1: Be actively involved in setting a budget

Most businesses now devolve budget responsibility as much as they possibly can. As a result, managers have a chance to be actively involved in determining things like:

7 Tips For Effective Financial Management

o Sales volumes

o Temporary staffing cover for vacancies

o Staffing levels to deliver the sales

o Buying preferences in terms of products that will be used in delivering agreed volumes

o Investment in new equipment or facilities

Don't miss out on your chance to determine your budget.

Tip 2: Be clear on your assumptions

A budget is a plan for the future based on the best evidence you have at the time you prepare it. You will have to make assumptions about things like sales growth, staff turnover, sickness, price inflation, etc. Make sure that when presenting your budgets the assumptions are clearly stated.

Tip 3: Work with your accountant

Your accountant who works with you in the business is essentially your personal business advisor. Use your accountant in this way and you will reap numerous benefits. Your accountant gets a better understanding of your area of the business and what the key drivers of revenues and costs are, which will be immensely helpful when it comes to reviewing performance throughout the year.
In addition, your accountant can model results for you based on different assumptions and help you to get a much clearer picture of the risks that might need to be managed.

Tip 4: Share the budget with your team

As a manager and leader, your success depends on the results of the team. Take the time to share your budget with your team, including the key assumptions on which it is based. If the team know what they are aiming for in terms of financial results, they will look to do the right things operationally to get the best result.

Tip 5: Take responsibility

When the going gets tough it is so easy to start to look elsewhere for excuses. If you have been involved in setting a budget which you have signed up to, focus your energies on getting results rather than the injustice of the current situation.

Tip 6: Monitor performance and take action

Make sure that you have a process in place to carefully monitor your actual performance against the budget. If things are going well see if there is more you can do to boost performance even further. If on the other hand things are not going as well as expected, focus on the changes you need to make or action you need to take to get back on track.

Tip 7: Focus on the most important numbers

When it comes to financial management, managers can sometimes get lost in lots of detail and trivia. Be clear on what are the 2-3 big numbers that you need to pay attention to, as they will more than likely constitute about 90% of your budget. In most businesses this will be:

o Income from sales or services

o Salary costs of employees

o Major non salary cost such as materials

Make sure that you have as good an understanding of what impacts on these numbers at the business unit level so that you can keep things on track.

At the end of the day, internal financial statements such as budgets merely reflect what is happening operationally in a common currency called money. Keep this at the forefront of your mind and you have a great chance to excel as a manager.

7 Tips For Effective Financial Management
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Duncan Brodie helps managers and leaders to achieve their true potential. Sign up today for his free monthly newsletter at http://www.goalsandachievements.co.uk

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Communication - Seven Verbal Communication Skills That Improve Workplace Management Effectiveness

Successful executives, managers and supervisors know that the importance of effective communication in the workplace cannot be underestimated. Poor communication is responsible for mistakes, conflict, and negativity in the workplace. Have you ever thought the following?

"Oops, I know I said that, but what I meant to say was..."    
 

" Why can't I get buy in from the team?"

Communication - Seven Verbal Communication Skills That Improve Workplace Management Effectiveness

"That mistake could have been avoided if I had only said...." 

Two common communication barriers are:
Not being aware of effective communication skills Being in a hurry.
Since effective communication in business is essential to success at your company or organization, it makes sense to improve your communication skills. The good news is that you can learn some basic communication skills and use them today to improve the quality of your workplace relationships with both employees and customers.

Seven Communication Skills for the Workplace

1. Personal Contact

Did you ever wonder why companies spend thousands of dollars sending sales people across the country when they could do a phone call for much less? The reason is that people relate to one another better when they can meet in person and read each other's body language. What's more, people can feel the energy the connection creates. You can also smile and shake someone's hand when you greet them, which creates a powerful connection.

2. Develop a network.

No one achieves success alone. Success in any company requires a team effort.
Make an effort to get to know managers and employees in different departments within your company, Meet new people in professional organizations. Become active in your community.
3. Always be courteous.

Courtesy lets people know that you care.

The words "Thank You" show that you appreciate your employees' efforts, and this is important because appreciation is the number one thing that employees want from management.

A little change like saying, "Would you please..." instead of just, "Please..." will make you sound less dogmatic and will improve your relationships with your employees.

4. Be clear

Since people often hear things differently, and they may be hesitant to ask you to explain what you said, you should ask, "Did I explain this clearly?" This will confirm that people understood you.

5. Compromise

You can decrease the tension associated with conflict  if you always ask, "What is best for the company?" This gives people a different perspective on your requests, and they will be less likely to take any conflict personally.

6. Be interesting and interested

Even though most of your workplace communications will be about business topics, it is also important to share your personal side. Let your staff know about your interests and your family, and ask them about theirs. Telling a few short personal stories about your interesting experiences will make your employees feel more connected to you as a person. Read your hometown paper daily so you know what is going on in your community and what personal concerns your staff may have about them.

7. Listen

Listening attentively to your employees demonstrates respect. Listening isn't easy because everyone's mind tends to wander. So to help you concentrate on what the other person is saying, keep a good eye contact --without staring,  and then make a comment about it or ask a question.

Improving your communication skills is a process that happens gradually over a period of time. The good news is that you have opportunities to practice your communication skills every day at work. Here's a tip to help you improve faster. At the end of each day, take a moment to review your communications during the day. What was effective? What wasn't effective? That way you will continue to learn and improve your communication skills.

Communication is the key to success in business

That is why you should be aware of how you are communicating at all times. As a result... you will become a role model for effective workplace communication skills to your employees. This is important because the ultimate goal of any supervisor, manager or executive is to turn ordinary workers into extraordinary employees. You can take a huge step toward doing this by honing your own communication skills.

Communication - Seven Verbal Communication Skills That Improve Workplace Management Effectiveness
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Successful Workplace Communication is one of the 13 essential skills that employees use at work. The Employee Success Toolkit is a professional development course for employees that teaches these essential skills in 13 easy-to-follow lessons. See what these 13 skills are at: http://www.EmployeeSuccessToolkit.com

I also invite you to visit http://www.ConfidenceCenter.com for a free Employee Morale Starter eKit and Employee Morale Calendar Planner

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Property Management - Commercial Management

Property management is an ever growing need as more and more people are now opting out of buying homes due to aspects such as the increase in mortgage prices. Renting is now becoming the more popular way of gaining property. It is because of the fact that more of us are now renting property that that need for property management has grown so much. It should be noted that property management requires time, intelligence and good attention to detail as well as management qualifications.

Property management is the job of looking after the properties that people rent out. This is the same for residential and commercial property. Whatever type of property you have as long as you are renting it; you will be able to get the help of property a management team.

Property management companies have the responsibility to deal with multiple responsibilities and aspects of the management and ownership of real estate. The duties of a property management company is to negotiate and stabilise a relationship between the landlord and tenant. The duties performed by a property management company are pretty much the same if your property is a residential or commercial but here we are mainly going to be looking at commercial property. Whether your property is an office block, a retail store or a bar/restaurant the duties that a property management team will perform for you are:

Property Management - Commercial Management

o Collecting rent

o Handle your letting

o Asses potential tenants

o Administration services

o Maintenance of the property

Commercial property management is an essential aspect of the property market if you want to increase the appeal or value of your property. It will allow you to get on with your renting business while the management company gets on with the day-to-day running. The extent of the service that is provided by a property management team is as flexible as you want it to be; it can be used as much as you need it to be.

A professional commercial property management service maintains and raises the level of occupancy, which enables a steady income. This is because a property management company keeps your commercial property in good condition in order to bring in business for the landlord. Your commercial property needs good curb appeal. This is achieved through keeping the structure, landscape and parking elements of the property in a clean and welcoming condition.

Your commercial property needs to be kept in good condition in order to attract customers to use your business. You need to ensure that your property is in good condition to attract businesses to set up shop within your property.

If you have invested within the property market then you will want to ensure that you are getting the most from your investment, which is where commercial property management can help you. By keeping a well run and well maintained property you will generate interest within your business and therefore attract more custom.

If you would like more information about what a commercial property management team could do for you get in touch with an expert company today.

Property Management - Commercial Management
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Helen is the web master of ARCH Property Management, specialists in all aspects of Property Management [http://www.archpropertymanagement.co.uk/article/1/0/online_property_management_software_for_landlords.html].

Please feel free to republish this article provided a working hyperlink remains to our site.

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The Challenges of Human Resource Management

Introduction

The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources.

With the increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. In order to succeed, HR must be a business driven function with a thorough understanding of the organization's big picture and be able to influence key decisions and policies. In general, the focus of today's HR Manager is on strategic personnel retention and talents development. HR professionals will be coaches, counselors, mentors, and succession planners to help motivate organization's members and their loyalty. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity.

The Challenges of Human Resource Management

This paper will highlight on how a HR manager can meet the challenges of workplace diversity, how to motivate employees through gain-sharing and executive information system through proper planning, organizing, leading and controlling their human resources.

Workplace Diversity

According to Thomas (1992), dimensions of workplace diversity include, but are not limited to: age, ethnicity, ancestry, gender, physical abilities/qualities, race, sexual orientation, educational background, geographic location, income, marital status, military experience, religious beliefs, parental status, and work experience.

The Challenges of Workplace Diversity

The future success of any organizations relies on the ability to manage a diverse body of talent that can bring innovative ideas, perspectives and views to their work. The challenge and problems faced of workplace diversity can be turned into a strategic organizational asset if an organization is able to capitalize on this melting pot of diverse talents. With the mixture of talents of diverse cultural backgrounds, genders, ages and lifestyles, an organization can respond to business opportunities more rapidly and creatively, especially in the global arena (Cox, 1993), which must be one of the important organisational goals to be attained. More importantly, if the organizational environment does not support diversity broadly, one risks losing talent to competitors.

This is especially true for multinational companies (MNCs) who have operations on a global scale and employ people of different countries, ethical and cultural backgrounds. Thus, a HR manager needs to be mindful and may employ a 'Think Global, Act Local' approach in most circumstances. The challenge of workplace diversity is also prevalent amongst Singapore's Small and Medium Enterprises (SMEs). With a population of only four million people and the nation's strive towards high technology and knowledge-based economy; foreign talents are lured to share their expertise in these areas. Thus, many local HR managers have to undergo cultural-based Human Resource Management training to further their abilities to motivate a group of professional that are highly qualified but culturally diverse. Furthermore, the HR professional must assure the local professionals that these foreign talents are not a threat to their career advancement (Toh, 1993). In many ways, the effectiveness of workplace diversity management is dependent on the skilful balancing act of the HR manager.

One of the main reasons for ineffective workplace diversity management is the predisposition to pigeonhole employees, placing them in a different silo based on their diversity profile (Thomas, 1992). In the real world, diversity cannot be easily categorized and those organizations that respond to human complexity by leveraging the talents of a broad workforce will be the most effective in growing their businesses and their customer base.

The Management of Workplace Diversity

In order to effectively manage workplace diversity, Cox (1993) suggests that a HR Manager needs to change from an ethnocentric view ("our way is the best way") to a culturally relative perspective ("let's take the best of a variety of ways"). This shift in philosophy has to be ingrained in the managerial framework of the HR Manager in his/her planning, organizing, leading and controlling of organizational resources.

As suggested by Thomas (1992) and Cox (1993), there are several best practices that a HR manager can adopt in ensuring effective management of workplace diversity in order to attain organizational goals. They are:

Planning a Mentoring Program-

One of the best ways to handle workplace diversity issues is through initiating a Diversity Mentoring Program. This could entail involving different departmental managers in a mentoring program to coach and provide feedback to employees who are different from them. In order for the program to run successfully, it is wise to provide practical training for these managers or seek help from consultants and experts in this field. Usually, such a program will encourage organization's members to air their opinions and learn how to resolve conflicts due to their diversity. More importantly, the purpose of a Diversity Mentoring Program seeks to encourage members to move beyond their own cultural frame of reference to recognize and take full advantage of the productivity potential inherent in a diverse population.

Organizing Talents Strategically-

Many companies are now realizing the advantages of a diverse workplace. As more and more companies are going global in their market expansions either physically or virtually (for example, E-commerce-related companies), there is a necessity to employ diverse talents to understand the various niches of the market. For example, when China was opening up its markets and exporting their products globally in the late 1980s, the Chinese companies (such as China's electronic giants such as Haier) were seeking the marketing expertise of Singaporeans. This is because Singapore's marketing talents were able to understand the local China markets relatively well (almost 75% of Singaporeans are of Chinese descent) and as well as being attuned to the markets in the West due to Singapore's open economic policies and English language abilities. (Toh, R, 1993)

With this trend in place, a HR Manager must be able to organize the pool of diverse talents strategically for the organization. He/She must consider how a diverse workforce can enable the company to attain new markets and other organizational goals in order to harness the full potential of workplace diversity.

An organization that sees the existence of a diverse workforce as an organizational asset rather than a liability would indirectly help the organization to positively take in its stride some of the less positive aspects of workforce diversity.

Leading the Talk-

A HR Manager needs to advocate a diverse workforce by making diversity evident at all organizational levels. Otherwise, some employees will quickly conclude that there is no future for them in the company. As the HR Manager, it is pertinent to show respect for diversity issues and promote clear and positive responses to them. He/She must also show a high level of commitment and be able to resolve issues of workplace diversity in an ethical and responsible manner.

Control and Measure Results-

A HR Manager must conduct regular organizational assessments on issues like pay, benefits, work environment, management and promotional opportunities to assess the progress over the long term. There is also a need to develop appropriate measuring tools to measure the impact of diversity initiatives at the organization through organization-wide feedback surveys and other methods. Without proper control and evaluation, some of these diversity initiatives may just fizzle out, without resolving any real problems that may surface due to workplace diversity.

Motivational Approaches

Workplace motivation can be defined as the influence that makes us do things to achieve organizational goals: this is a result of our individual needs being satisfied (or met) so that we are motivated to complete organizational tasks effectively. As these needs vary from person to person, an organization must be able to utilize different motivational tools to encourage their employees to put in the required effort and increase productivity for the company.

Why do we need motivated employees? The answer is survival (Smith, 1994). In our changing workplace and competitive market environments, motivated employees and their contributions are the necessary currency for an organization's survival and success. Motivational factors in an organizational context include working environment, job characteristics, appropriate organizational reward system and so on.

The development of an appropriate organizational reward system is probably one of the strongest motivational factors. This can influence both job satisfaction and employee motivation. The reward system affects job satisfaction by making the employee more comfortable and contented as a result of the rewards received. The reward system influences motivation primarily through the perceived value of the rewards and their contingency on performance (Hickins, 1998).

To be effective, an organizational reward system should be based on sound understanding of the motivation of people at work. In this paper, I will be touching on the one of the more popular methods of reward systems, gain-sharing.

Gain-sharing:

Gain-sharing programs generally refer to incentive plans that involve employees in a common effort to improve organizational performance, and are based on the concept that the resulting incremental economic gains are shared among employees and the company.

In most cases, workers voluntarily participate in management to accept responsibility for major reforms. This type of pay is based on factors directly under a worker's control (i.e., productivity or costs). Gains are measured and distributions are made frequently through a predetermined formula. Because this pay is only implemented when gains are achieved, gain-sharing plans do not adversely affect company costs (Paulsen, 1991).

Managing Gain-sharing

In order for a gain-sharing program that meets the minimum requirements for success to be in place, Paulsen (1991) and Boyett (1988) have suggested a few pointers in the effective management of a gain-sharing program. They are as follows:

A HR manager must ensure that the people who will be participating in the plan are influencing the performance measured by the gain-sharing formula in a significant way by changes in their day-to-day behavior. The main idea of the gain sharing is to motivate members to increase productivity through their behavioral changes and working attitudes. If the increase in the performance measurement was due to external factors, then it would have defeated the purpose of having a gain-sharing program. An effective manager must ensure that the gain-sharing targets are challenging but legitimate and attainable. In addition, the targets should be specific and challenging but reasonable and justifiable given the historical performance, the business strategy and the competitive environment. If the gain-sharing participants perceive the target as an impossibility and are not motivated at all, the whole program will be a disaster. A manager must provide useful feedback as a guidance to the gain-sharing participants concerning how they need to change their behavior(s) to realize gain-sharing payouts The feedback should be frequent, objective and clearly based on the members' performance in relation to the gain-sharing target. A manager must have an effective mechanism in place to allow gain-sharing participants to initiate changes in work procedures and methods and/or requesting new or additional resources such as new technology to improve performance and realize gains. Though a manager must have a tight control of company's resources, reasonable and justifiable requests for additional resources and/or changes in work methods from gain-sharing participants should be considered.

Executive Information Systems

Executive Information System (EIS) is the most common term used for the unified collections of computer hardware and software that track the essential data of a business' daily performance and present it to managers as an aid to their planning and decision-making (Choo, 1991). With an EIS in place, a company can track inventory, sales, and receivables, compare today's data with historical patterns. In addition, an EIS will aid in spotting significant variations from "normal" trends almost as soon as it develops, giving the company the maximum amount of time to make decisions and implement required changes to put your business back on the right track. This would enable EIS to be a useful tool in an organization's strategic planning, as well as day-to-day management (Laudon, K and Laudon, J, 2003).

Managing EIS

As information is the basis of decision-making in an organization, there lies a great need for effective managerial control. A good control system would ensure the communication of the right information at the right time and relayed to the right people to take prompt actions.

When managing an Executive Information System, a HR manager must first find out exactly what information decision-makers would like to have available in the field of human resource management, and then to include it in the EIS. This is because having people simply use an EIS that lacks critical information is of no value-add to the organization. In addition, the manager must ensure that the use of information technology has to be brought into alignment with strategic business goals (Laudon, K and Laudon, J, 2003).

Conclusion

The role of the HR manager must parallel the needs of the changing organization. Successful organizations are becoming more adaptable, resilient, quick to change directions, and customer-centered. Within this environment, the HR professional must learn how to manage effectively through planning, organizing, leading and controlling the human resource and be knowledgeable of emerging trends in training and employee development.

The Challenges of Human Resource Management
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Dr.Alvin Chan is a Senior Research Consultant at a research think-tank in Asia.

alvinchan@firstquatermain.com

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9 Management Philosophies to Develop Teams Into Elite High Performers

I met with a prospect the other day and he asked me "What do high performance managers do differently than average managers?"

I paused for a moment, scanned the long list of behaviors in my mind; distilled my answer down to the critical few things and told my prospect...

High performance managers:

9 Management Philosophies to Develop Teams Into Elite High Performers

clarify their understanding of their roles and responsibilities set non-conflicting short and long term priorities use a logical, transparent and duplicable decision-making process create a well thought out plan of action - they don't wing it create a realistic schedule for executing their plans

We discussed my answer in relation to the challenges his company was facing and agreed to involve the final person I needed to meet to close the deal.

I started the hour long drive back to the Atlanta airport and pondered a much deeper question.

Why do high performance managers behave the way they do?

I remembered asking my mentor and colleague Alex Nicholas, (the author of Applied Concepts Institutes' Sales Management Leadership Program), this very question.

Here's his answer - High performance managers have a set of management philosophies at the root of their priorities and decisions. This keeps them focused on achieving results through development of themselves, the team environment and individual team members.

All management behavior is based on daily, demonstrable, non-negotiable standards, values and ethics.

Personal conduct, decision-making and daily activities must consistently reflect the values and high ethical standards embodied by the company
Leadership skills focus on vision, strategy, values and spirit

Leadership includes communicating a clear direction for the team, in concert with the corporate vision, strategy, values and goals. Leadership also entails developing and executing longer term business plans and promoting a strong sense of the importance of individual and team contributions.
Management skills target tactical, shorter term development

Emphasis is on improving results by using proactive behavior, making sound tactical business decisions, improving near term planning, enhancing the daily work environment, and fostering developmental relationships with individual team members.
Focus on team development

The most important priority for managers is the development of an elite, high-performance team. While accommodating individual employee's needs are important, business and employee decisions should primarily be made to support the greater good of the team.

Team performance improvement begins with the manager's acceptance of personal responsibility for team actions and outcomes.

Improving team performance starts with improving one's self in personal management/leadership skills, job adaptability and business maturity.
The foundation of employee performance improvement is daily development that addresses their behavior.

All employees are recognized as having unique personalities. Management focuses primarily on developing employee behaviors that are required to successfully perform the job.
Communication between Managers and employees become more effective through a collaborative communication style.

Situations require differing styles of decision-making and communication, however collaborative communication and decision-making processes can be synergistic.
Develop employees using nurturing relationships

By consistently using a collaborative coaching process, managers help employees take personal ownership of the job and their productivity. Managers treat employees as "major accounts" for development and coach in the areas of job skills, business maturity and personal adaptability.
Improved employee productivity results in increased employee tenure and sense of self worth

Leading and managing employees to work through a focused, disciplined, high-energy, and consistent approach is the most effective way to increase results for the team and build employee job satisfaction and tenure.

So it all comes down to the congruency between your management practice and the value system that underpins the priorities you set and the decisions you make.

I would love to hear about the management philosophies that underpin your approach to making the numbers?

Add your voice to the discussion at my blog.

9 Management Philosophies to Develop Teams Into Elite High Performers
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Martice E Nicks Jr

Partner - Applied Concepts Institute, LLC

Professional Speaker, Master Sales Productivity Consultant, Coach and Trainer

Martice has 27 years as a successful consultant in government and private sectors. He focuses on optimizing and integrating systems that drive revenue and facilitate organizational performance. Martice has held multiple executive and management positions in companies including founding and self-directed teams. His approach brings a sense of urgency to drive positive behavioral change and most importantly-measurable business results. Clients realize between 15-30% increase in revenue in 90 days.

Come join the sales productivity discussion at my blog http://salesproductivitysecrets.blogspot.com/

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Project Management Steps - The First Step to Starting Your Project the Right Way

It is important to have basic project management knowledge before getting started. For many us, we became project managers accidentally. Whether your project succeeds or fails, however, will be no accident. Successful project managers don't need to know everything, but they know enough to get started and learn as they go. In its essence, project management is preparing, executing, and closing. By the end of this article, you will have the basic foundation on the project management steps.

The first step is preparing. When it comes to preparing, your focus should be on answering the basic questions. Writing a project charter is a great way to get started. The reason is because it answers the important question: why are you doing this project? A project with a weak purpose will go no where. In addition to giving the project a reason, it will also say what are the expected benefits. The most common benefits are making more money, saving money, and saving time (by making things more efficient).

Another tool to help you in preparing is to speak with the people who are affected by the project. These people are referred to as the stakeholders. Getting their feedback will help you focus on what's important. This is commonly known as the scope. It is equally important to write down both what will and will not be achieved. You want to make sure you know what the stakeholders are expecting.

Project Management Steps - The First Step to Starting Your Project the Right Way

The next component of preparing involves writing the project plan. This establishes the ground rules. The plan will detail what will be delivered and when, who is doing what, and how will things be done. For example, the communications section will let everyone know when and where they can find status updates. Setting budget and deadlines will give you a target. Remember, a project is temporary. Therefore, every project has an ending and finite resources.

The plan doesn't need to be perfect, because it will change throughout the project. More important is that you have a plan. Once you are done preparing, it's time to execute.

Executing is where the rubber meets the road. All the work done in the preparing step is used to guide you. The key thing to remember is to record everything. Following is a checklist of what should be recorded daily:

Write down how the project is progressing. Review the work completed by the project team and make notes of any quality issues. If there is a problem, write it to a problem log. When new risks arise, write those down as soon as you think of it. At the end of the day, record anything you learned.

The last point may seem trivial, but it will make your life easier in the closing step.

In addition to logging information, you will also conduct meetings. These are essential and an effective way to follow up with everyone and to get things done. Notably, you'll get information from your team and make sure everything is on track. If not, this is when you make adjustments to your earlier forecasts.

Depending on the complexity of the project, the executing step may be longer or shorter than the preparing step. You will know the executing step is over once you present the final deliverable mentioned in the plan. That does not mean the end, however. The last step is the closing step.

Closing is a controlled way to end a project. Specifically, this is where you find out if you did a good job. You will look back at the project plan and see if the objectives were met. Was everything in-scope completed? Just as important is to ask the stakeholders if they feel the project was a success, and why or why not? You will also provide a lessons learned report. What did you feel went well? What could you do to make things better? What steps can be combined or omitted? If you've kept a daily lessons learned log, this step will simply be compiling everything you have already written into a report.

You now know the basic project management steps. They are preparing, executing, and closing. While project management is not easy, you have the basic foundation. The best way to learn how to manage a project is to get out there and start managing projects. Don't forget to have fun along the way. If you aren't having any fun, it isn't worth doing.

Project Management Steps - The First Step to Starting Your Project the Right Way
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ProjectManagementSteps.net

Introduction to Project Management Steps

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Effective Management: Keys to Being a Successful Leader

The ability to bring people together to accomplish a task is a difficult talent to master. It takes a combination of acquired skills and experience to guarantee the success of anyone in a leadership role. An incompetent manager can have a devastating impact on an organization. A leader with the knowledge, experience and insight necessary to ensure a high performing and profitable organization is hard to come by. In a recent Gallup survey, it was found that 25% of U.S. employees would fire their boss if they could. With one out of four managers failing, it is easy to see how ineffective management decreases employee performance and increases customer dissatisfaction resulting in a negative affect on the organization's bottom-line.

The art of effective management rarely presents as an inbred gift. An effective manager must be an innovative leader who exhibits creativity, enthusiasm, confidence and an innate respect and good will toward every individual within the organization. The manager has to be willing to embrace new concepts and reconsider old practices in order to unleash the potential of the team. To be an effective manager, one is required to learn and utilize four basic management tools: coaching, feedback, counseling and discipline.

Coaching is the ongoing, informal training that confirms when an employee is doing well and identifies potential areas of opportunity. There are five essential keys to the coaching process.

Effective Management: Keys to Being a Successful Leader

o Listening with sensitivity and consideration to hear what is really happening should be your primary objective. In the coaching function, learn to use the power of silence. An effective manager seeks first to understand, then to be understood. This allows employees to know that you value their opinions and keep their interests, priorities and goals in mind. Actively listening to your employees builds trust and lets them know that you respect them as a "whole" person. Employees will be more open and will more readily clue you in to valuable information you may not otherwise be privy to.

o Language that demonstrates the ability to create new realities with precise types of speech is necessary to clearly disseminate your message with the highest likelihood of retention. Communicating effectively with appropriate language, pitch, tone and volume is the best way to articulate company goals and objectives.

o Attitude greatly impacts your ability to produce results. Approaching employees with a caring attitude aids in the employees being receptive and open to communication. An abusive, hostile or even disinterested attitude directly impacts the emotional health and productivity of employees. A manager who displays a positive attitude in every message reinforces the employee's belief in their own value to the organization.

o Self-Development is the process by which managers continue to strengthen their own skill set through continued training and value-added experiences. By being a model of excellence, productivity and fulfillment, an effective manager demonstrates the acceptable behaviors that set the tone for a climate of responsibility.

o Leadership involves developing a clear vision and strong message which must then be successfully communicated to the team. Your expectation of employees and their expectations of themselves are the primary factors in how well employees perform in the workplace. Set achievable goals and share them with your employees so that they know what is expected of them. Delegate the workload and set realistic deadlines. This will provide invaluable training to employees and save on hours of unnecessary work. Utilize a time management system that is simple, organized and efficient to track completion of tasks. Being able to hold employees accountable is a vital function of the coaching role.

Feedback provides specific information that lets employees know how well they are performing. Feedback can be positive or corrective. It builds employee beliefs in their capabilities and provides them with insight into how they can improve their production. Corrective feedback should only be given in private. Feedback should always start positive and end positive. Never solely identify what the employee is not doing or is doing wrong. Employees need to have their confidence reinforced through praise and appreciation. Feedback is a two-way communication device. Allow employees to respond to your message so they know that they are included in their own development. One of the top complaints employers receive in regards to employee dissatisfaction is poor to non-existent feedback and recognition. Opening the lines of communication allows you to stay tuned in to your employees so you can be proactive in resolving situations before they escalate. Ask SMART questions (Specific, Measurable, Attainable, Realistic and Time-based) to identify fears, problem areas or opportunities.

Counseling is a tool that shows employees what they need to improve their performance. Point out issues in the employee's work in a calm, non-accusatory manner. Ask them what you can do to help. Work with the employee to develop concrete goals and a timeline for resolving the matter. If the problem is personal versus job-related, be empathetic and offer a flexible solution to help create a synergized work/life balance. Remember, you are not a therapist. Refer employees to the proper support groups if necessary. Counseling measures help to reduce turnover, prevent disciplinary action and shows that you are committed to your employee's success.

Discipline is a necessary evil to help employees follow company rules. Disciplinary action should be taken as a last-resort effort when previous coaching, feedback and counseling attempts have failed. The primary goal of discipline is not to punish your employees but rather to help guide them back to satisfactory job performance. Focus solely on performance, remain fair and impartial. Although it is recommended to dole out discipline as soon after the misbehavior as possible, it is equally important to make sure that you have all the facts before you act. Improperly or unfairly holding an employee accountable for an action without adequate investigation can lead to lowered employee morale, loss of respect and possible lawsuits.

Effective management is more than just implementing policies and procedures. It means getting the most out of all of your employees, helping them to perform at their best individually, cooperatively and in groups. Managing your team effectively and efficiently requires the willingness to learn a variety of leadership skills. An effective manager must be able to coach, provide feedback, counsel and be comfortable in disciplining team members. By developing your management skills you will appreciate colossal benefits in increased productivity, decreased stress and increased confidence in both yourself as an effective leader, as well as in the employees on your team.

Effective Management: Keys to Being a Successful Leader
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© 2006 by Niquenya D. Fulbright, Professional Life Coach All Rights Reserved. You have permission to publish this article electronically or in print, free of charge, as long as the bylines are included. This article may not be used on illegal websites or websites that promote illegal activity of any kind. A courtesy copy of your publication would be appreciated.

About the Author: Niquenya Fulbright is a professional life coach with over 10 years experience specializing in career, sex, love and relationship coaching. As founder of http://www.chicagoloveconnection.com, Niquenya helps her clients to improve the quality of their personal relationships and sex lives through positive goal-setting, self-assessment, time management skills building, image consulting and exciting singles events. For more information or to schedule a complimentary 30-minute coaching session, visit http://www.niquenyafulbright.com or send inquiry to contactme@niquenyafulbright.com.

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What is Management?

Management is different from leadership but just as important. To understand the nature of management, we need to be clear how it differs from leadership. The first step in answering the question: "What is management?" is to understand the basic tasks of all organizations. Like any other species, an organization needs to take care of its immediate business of survival but it also has to evolve to ensure its fitness to cope with changes in the environment and the actions of competing species.

Management is the function that organizes the execution of today's business. Leadership is the evolutionary mechanism that changes organizations to prosper in tomorrow's world. Whenever a species or individual animal runs into obstacles, variations occur and new forms are selected from those variations. Leadership is a risk taking type of action that explores new frontiers and promotes new ways of behaving. It follows that, in a stable environment, good management is all that is needed to prosper; leadership in this context isn't required.

This portrayal is not the popular one where leadership means being the top dog in a group regardless of what's going on in the environment. Also, management has been cast on the rubbish heap since the late 1970's following the initial wave of Japanese commercial success in the West. We wanted a scapegoat for our failure to compete with the Japanese, and management was fingered for this role. Jack Welsh, Tom Peters and other gurus called for more leadership and an end to management, which they saw as stifling innovation. The reality was that a lack of competition created a complacent attitude AND lackluster management. It was the way management was practiced that was the problem, not anything to do with management as a function. We simply needed to upgrade management for a new reality.

What is Management?

Being hierarchical by nature and inclined to worship heroes, we tend to regard the person in charge of our group as a leader. But complexity demands specialization and executives need to perform multiple roles that depend on the unique demands of their situation. If their main function is to maintain quality, low cost and good customer service while motivating employees to perform to their potential, then they are performing the management function, not showing leadership.

Management is like investment. Managers have resources to invest - their own time and talent as well as human and financial resources. The goal or function of management is to get the best return on those resources by getting things done efficiently. This doesn't entail being mechanical. The manager's style is a contextual issue. With highly skilled and self-motivated knowledge workers, the manager can be very empowering. Where the workforce is less skilled or motivated, the manager may need to monitor output more closely. By saying that management is a function, not a type of person or role, we better account for self-managed work teams where no one is in charge. Managemenet simply makes the best use of all resources even when we manage ourselves. Hence management does not necessarily entail a dictatorial, controlling overseer. Skilled managers know how to coach and motivate diverse employees. Getting things done through people is what they do.

The aim of management is to deliver results cost effectively in line with customer expectations and profitably, in the case of commercial organizations. It is not only leaders who can be inspiring. Inspiring leaders move us to change direction while inspiring managers motivate us to work harder.

Management is a vital function thanks to the complexity of modern organizational life. The need to coordinate the input of so many diverse stakeholders, experts and customers requires enormous patience and highly developed facilitative skills. Excellent managers know how to bring the right people together and, by asking the right questions, draw the best solutions out of them. To facilitate well requires managers to work very closely with all relevant stakeholders.

By contrast, the leader can be a bit of an outsider. Like Martin Luther King, Jr. promoting desegregation on buses to the U.S. government from the sidelines, the leader can induce people to change even with no direct involvement or authority over the people who are needed to take the hoped for action.

Managers don't just keep ongoing operations ticking over. They also manage complex projects like making a modern movie or putting the first man on the moon. Leadership is only required to sell the tickets for the journey or to resell it periodically if resistance develops, but management drives the bus to the destination.

What is Management?
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See http://www.lead2xl.com for more articles like this one. Mitch McCrimmon has over 30 years experience in executive assessment and coaching. His latest book, Burn! 7 Leadership Myths in Ashes, 2006, challenges conventional thinking on leadership.

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7 Steps To Developing A Risk Management Plan

Risk is real for any company or organization. Don't kid yourself. Things happen when you least expect them to happen. Are YOU ready for the unimaginable, the unexpected, the unwanted? As an executive, have you put your head in the sand around risk? Do you pretend that all is well, and nothing will change? If so, it's time to face reality: data gets lost, buildings burn, people resign. When any of these occur, your organization is at risk for malfunction, inefficiency, chronic struggle, revenue loss, and even total failure. Is this the path you want to go down?

Beginning now, you can initiate the process of developing your organization's risk management plan. Take charge. Form a committee representing Board members and staff, and ask them to partner with you to create this critical document. Make sure everyone understands the importance of the work, and explain to them how they can benefit from contributing to the finished product. Risk managements plans are not optional; they are essential for every company, large or small. There are no valid exceptions.

Implement the following seven steps, and give yourself and others a huge slice of peace of mind:

7 Steps To Developing A Risk Management Plan

1.  Define what risk looks like for your organization.
What constitutes risk in your shop? Threats to normal operations? Threats or compromises to people's safety? Loss of physical and electronic property? Loss of revenue? Decreased public/community support? Unethical behaviors?   Create a comprehensive definition of risk that means something to YOU and YOUR organization.

2.  Identify specific risks.
Ask the committee to brainstorm as many different risks as they can possibly imagine. Record them on a white board or flip chart. Examples of various risks include: firing of the chief executive, dwindling interest in one of your major products, departmental silos, Board infighting, inability to fundraise, economic downturn, layoffs, building fire, computer crashes, philosophical differences between key employees, extended leaves for managers, interruption in receiving necessary supplies. All of these are potential risks, and there are many others. Continue brainstorming until the group believes they have come up with an exhaustive list.

 3.  Categorize each risk.
Determine category names for the identified risks. Examples may be: Chief Executive, Board of Directors, Physical Property, Technology, Data, Employees, Products or Services, Customers/Clients, Stakeholders,. Place each risk under one of the selected categories. Create as many category names as you need.

4.  Rank each risk according to severity or significance.
Choose headings such as "most severe", "moderately severe", "of minimal concern". You don't have to use these same words for your headings, but be sure that your phrases adequately differentiate between the degrees of seriousness. Perhaps you would like to color code each risk according to its significance heading: red for "most severe"; black for "moderately severe", and green for "of minimal concern". Set it up the way it best works for you and your organization.

5.  Develop strategies for reducing or eliminating each risk.
Begin with the risks under your "most severe" heading. It's critical that you don't delay in thinking through possible solutions for those major issues. Ideally, determine multiple strategies for each risk. Be sure to consider who within the organization is going to be responsible for implementing the various strategies, and the resources needed to implement them. Omitting this information from the plan only causes big problems later.   

6.  Write your plan.
Using all of the above input, shape a readable document. Practicality is paramount here. The plan is worthless if nobody can follow it, interpret it, or actually rely on it as a guide during crisis. After it is compiled, seek feedback from the committee as well as other employees and Board members. Incorporate changes where indicated. Check for evidence of common sense throughout the document. Hold yourself accountable to a high standard around common sense. A pie-in-the-sky risk management plan doesn't serve anyone.

7.  Test some of those strategies in your plan for viability.
Do they work? Can they work? Why or why not? Where are the pitfalls? What steps are missing? Would you benefit from having certain outside experts review your strategies? If so, which types of experts? 

Revisions to the plan may occur annually, as situations arise and your organization lives one or two of the strategies firsthand. Hindsight is often wiser. Don't be afraid to toss some plan content when you know for a fact that this is what you must do. Remember: the plan needs to be current. On a day you least expect it, someone has to grab that document, refer to a particular section in it, and act upon it--fast.

7 Steps To Developing A Risk Management Plan
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Sylvia Hepler, Owner and President of Launching Lives, is an executive coach/advisor based in South Central PA. Her ideal clients are corporate executives, nonprofit executive directors, and business owners who demonstrate commitment to getting unstuck and creating a NEW story for their lives. Ms. Hepler's background includes: teaching, public speaking, retail sales, freelance writing, and executive leadership of a 14 county nonprofit organization. She has a working knowledge of staff supervision, Board development, Quality Management, SWOTT Analysis, the hiring and firing of employees, mission/vision development, networking, and organizational collaboration. Her no nonsense approach coupled with heart yields swift results with most clients.
CONTACT:
Sylvia@launchinglives.biz
717-761-5457

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