COVER STORY

Project Launch -- Don J Wessels

Providing value to organizations is the purpose of projects and project management. Today's projects take too long to complete and add value. One of the main reasons is improper planning from the beginning. Too many projects have false starts and restarts. Many of the key stakeholders are not in agreement as to what the project actually is to accomplish. The Project Launch is a proven, successful way to initiate and plan a project for a quick start. This will lead to a successful project and help realize the intended value.

© 2008 Management Concepts, Inc. All Rights Reserved.

PROJECT ENVIRONMENT

Validation : Success Key in Lump Sum Projects Contractor's Perspective -- Madhu P Pillai

Cost is not something that supports business, it is the business. An effective control on it is an absolute necessity for any project success. Cost starts from estimation and hence, estimation enjoys major significance in the entire project life cycle. The very first response from an assigned project manager on many jobs is more than likely to be negative on the bid pricing and project will be described as one of those potential commercial disasters from the day one. However, what these project managers generally fail to understand and appreciate is the necessity of a proper and formal validation exercise, followed by many revalidations at logical intervals to assess and reassess the project. This article discusses some important aspects of the validation exercise with strong appreciation for the constraints of the business development /sales department during the preparation of original estimate for the bid.

© 2008 The Icfai University Press. All Rights Reserved

PROJECT ENVIRONMENT

Team Conflicts in Projects : How to Resolve Them? -- N Vijaya Lakshmi

A conflict that arises between functional specificities severely and adversely affects the project progress and goes beyond turf wars and frictions. However, there are many tips and techniques which can help the project manager to resolve of conflicts. The effective and quick resolution of conflicts can lead to a project success.

© 2008 The Icfai University Press. All Rights Reserved

PROJECT ENVIRONMENT

The US Government Accountability Office's New Cost Assessment Guide -- Karen Richey

The US Government Accountability Office's new Cost Assessment Guide: Best Practices for Estimating and Managing Program Costs (Government Accountability Office (GAO)-09-03SP) establishes a consistent methodology based on best practices that analysts can use to develop and manage program cost estimates. Written in collaboration with industry and government experts, the guide is designed for GAO auditors in particular and cost estimators in general. The 12 step-guide will enable analysts to develop credible, high-quality estimates applicable across government and industry. The guide details how cost estimating and Earned Value Management (EVM) are both needed to set realistic program baselines and manage risk.

© 2008 The US Government Accountability Office (GAO). Reprinted with permission.

OUTSOURCING PROJSECTS

Managing Asian Outsourcing Projects for Success -- Mark C Hehl

Many companies run into trouble when they shift work offshore, but they usually persist since this process is critical to corporate success. This article explores this ever-growing trend. Outsourcing projects usually are remotely managed, involve less developed organizations and involve other diverse cultures. These factors add complexity and are more challenging than purely domestic projects. This article focuses on the common challenges/pitfalls facing those responsible for outsourcing project success.

© 2008 Mark C Hehl. Reprinted with Permission.

PROJECT TOOLS

OPM3® : The Path to Organizational Achievement of Strategic Business Improvement -- Claudia Baca, Larry Bull, Terry Cooke-Davies and Soren Porskrog

The article highlights how the foundation of organizational project management maturity in the structure and execution of project management can help an organization translate its strategy into successful outcomes, consistently and predictably. The article discusses the problems that organizations face globally and demonstrates the methods and solution that organizational project management maturity will provide to achieve the desired business results.

© 2007 Project Management Institute. This article was first presented at PMI's North American Global Congress, Atlanta, GA, USA. Reprinted with permission.

PERSPECTIVES

The Diagnosis and Treatment of Multitasking Mania -- Lon Roberts

This article elaborates on important distinctions in multitasking behavior that are essential for solving a problem. It describes a systematic approach for transforming an environment that fosters multitasking mania into one where multitasking is done sanely under the aegis of management control. Special attention is also paid to the challenges of multitasking in the project environment.

© 2008 Lon Roberts. All Rights Reserved.

SOFTWARE PROJECTS

Software as a Service : The New Age of Project Management -- V Venkateswara Rao

In the past couple of years, Software as a Service (SaaS) market has been a buzzword in the project management arena. SaaS is rapidly expanding, thanks to the benefits and opportunities it offers. While the adoption of SaaS in small projects is quite evident, large projects which are losing control over features and customization are now involving a third party vendor to minimize their project risks.

© 2008 The Icfai University Press. All Rights Reserved

RISK MANAGEMENT

Risk Identification, Allocation and Response : A Case Study of Alabama Building Contractors -- Salman Azhar

The construction industry is known for being highly risk-prone. Due to project size, complexity and variability, risks are always present in every job. Industry stakeholders, particularly contractors, have to manage these risks; otherwise, the projects they undertake could easily fail, causing them heavy liquidated damages. This article, through a survey and interviews, evaluates the current practices of risk identification, allocation and response used by the building contractors in Alabama. The end product is a risk identification, allocation and response model based on the systematic methodology of risk management. The building contractors can use this model to classify the risks as controllable, uncontrollable, predictable and unpredictable and decide how to manage them.

© 2008 The Icfai University Press. All Rights Reserved