Project – Time to Market

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Project time to Market

Time from concept to implementation of a project has always been important. Big organisations set deadlines without knowing the real timetable. These set by senior management who do not have a handle on what is involved in making it happen.

So even strong experienced project managers can have difficulty in addressing these situations. Many project management books would suggest that the timeline should be created based on the resources and finance available. Where that does not meet the preconceived idea of delivery date the project manager needs to argue the case. Flexing of the three core elements of a project: Cost, Time or Quality. Since we have fixed Time, this only leaves Cost and Quality.

Project Managers View

As a project manager you can work with your team to increase productivity without external cost on the project. But it still a cost for the organisation, the project and the individuals involved. The loss of good will and morale make this only feasibly a short term fix. Getting more resource might be the next step and depending on the nature of the project. This might be a satisfactory solution in some cases. But it will involve more immediate costs to the project and mean extra funding will be needed.

When you have fixed costs and time, then the only route is reducing quality. This leads to an adjusted solution by either delivering less on time, or reducing the specification of what is delivered.

All these activities involve regular and careful communication with the stakeholders and project sponsor. It is key that they are part of the project and not separate from it. Warning the Sponsor and key stakeholders of possible issues and highlighting pressure on the deadline helps to defuse trouble.

Well-Seasoned Project Managers are well aware of the points above. But pressure to take new initiatives from concept to market quickly and effectively are increasing all the time.

Summary

A good PMO can provide a service to project delivery in organisations by recording lesson learned in a useful manner and providing the mechanisms to play them back to future projects. Also the PMO should record actuals against estimates to improve the estimating of future projects. Allowing the sharing of risks and issues across all projects means that common problems can be address more quickly and efficiently.

There is much more value to projects and organisations in PMOs offering this service than acting as simply an administration and business support function.

 

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