The methodology is well designed, the managers agree on the need to have reliable information on projects to make decisions and the entire corporate structure is ready to embark on portfolio management. But within a few months, it becomes clear that employees who should feed the system with data about their work are not fulfilling their obligations.

This has been a problem for hundreds of large and medium-sized companies, but luckily there are many tactics to deal with the problem of internal resistance.

In this article, we present a summary of our PMO guide on how to encourage the adoption of a PPM tool.

 

Try ITM Platform and discover how simple Software adoption can be

 

Advantages of PPM tools

PPM (Project Portfolio Management) software, responds to a basic need in any corporate environment: the coordination, monitoring and control of all projects to obtain the best possible use of the limited resources available.

A PPM tool can be used to support projects of any kind, for Innovation, IT, Operations, but also for strategy, marketing, or sales, as well as cross-organizational and transformation projects.

In all cases, PPM software will offer many benefits to your business:

  1. A single place for collaborative work between departments and teams
  2. Aggregate information for decision making
  3. Reduction of non-strategic projects
  4. Speed up project delivery times
  5. Save time spent on administrative work

 

Challenges in adopting PPM software

Unfortunately, this process won’t be without challenges. Like other software, it relies on the data fed into the system. If this isn’t done correctly, the effectiveness of the software will be compromised.

This affects almost all corporate software, not just PPM tools: Imagine a CRM without customer data. Or an ERP without invoices.

Despite the difficulties, PPM software is vital to compete against the best because it provides an unbiased and clear view of the status of the whole project portfolio.

That’s why you will need to manage two fundamental elements when embarking on the transition:

  • A framework to manage the projects portfolio that is well integrated into the design of the organization
  • An adoption plan that anticipates employee reactions to channel them in a positive direction

The adoption plan must also consider how non-technical components affect the resistance to change. For example: in some cases, resistance is due to objective problems in daily operations. In that scenario, it is important to listen to the objections and address them.

On other occasions, the resistance is political in nature or due to friction within the management team.

Click here to read our e-book and discover all the problems that can derail successful implementation and how to deal with them.

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Magnifying glass, looking at graphs, reportWhy make status reports?

Every project needs a status report , also known as progress report, in which the status of the project is clearly, accurately and objectively reported.

Start feeding your project status reports with live data on ITM Platform.

A project status report is intended to provide an evaluation of the progress and communicate execution details. Therefore, the development of the progress report is of great importance, since it is vital that it be carried out following a predetermined model. Only in this way will the users of the reports be able to compare them with each other:

  • Comparing status reports for different phases of the same project gives you a better idea of the distance covered, analyzing how far future projections from previous phases have been verified or denied
  • Comparing reports from different projects is crucial, especially among similar projects using Gantt charts, to understand where discrepancies between estimates and real data are

If you do not have a reporting model in your organization, you are missing out on the advantage of being able to compare reports. To make matters worse, homogeneous models allow users of such reports to find the information they need quickly, as they know how it’s structured. This is one of the aspects where by a Project Management Office can bring great benefits for internal communication in an organization.

A status report contains a brief description of the main elements of the report, establishing causes and explanations that justify and give context to the data. Metrics and graphics will allow the user to understand the progress of the project in a very short time.

The executive summary: Basis for monitoring a project

This section requires an objective description of how the project is running . The summary should present clearly and simply the most important results of the project, including:

  • Milestones fulfilled
  • Deliverables and quality
  • Risks or unforeseen events
  • Relationship between estimates and real, in at least three aspects: resource allocation, costs and deadlines
  • The difference between the estimated progress and the progress to date. If the date of delivery is considered unrealistic, this alarm signal is the first step to alert the customer and negotiate a new date with him.

On the other hand, the executive summary is very effective for a detailed follow-up of the unplanned challenges that arose during project development, as well as actions to be implemented in the short term , so that any eventuality can be mitigated.

The purpose is to ensure that the project continues on the path to success, delivering the project on time, with the expected quality.

Project progress reporting: steady progress assessment

The constant evaluation of a project is vital to know what countermeasures should be taken to make the project successful. Hence the preparation of this section outlines the most problematic areas of the project.

Likewise, suggestions and corrections can be advanced to solve a specific problem. As the project, often, cannot wait to receive feedback on these aspects, decisions are already taken, so this point can delineate already decided actions.

Registration Template: Project Control

The status report should generate relevant information about the risks recorded. It is advisable to start from a registry template by means of which you can retrieve useful information in an orderly way. This registry template will contain:

  • Project Risk Factors,
  • Probabilities
  • Project impact

You can visit ITM Platform’s free risk assessment matrix to compile this information quickly.

Know all about metrics: Promotes project tracking

Managing a project is only possible if you have the tools to quantify the different parameters involved, offering objective and comparable data. Thus, you can measure, for example:

  • Delivery times
  • Quality of the deliverables, based on the number of requirements included
  • Costs incurred to date
  • Percentage costs over total
  • Amount of unanticipated costs incurred
  • Hours worked, either per worker or by professional category

Result indicator

If the result is not a material product but a service, and the project covers the phases of implementation and marketing, there will be a large number of quantifiable aspects related to the result, such as the number of users, their average cost, and so on. These indicators will serve to measure the quality of delivery.

If you are interested in knowing which indicators you can use to manage your portfolio, you can continue reading these articles:

 

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customer acquision concept with workstation on a light wooden deskCustomer acquisition & sales funnel, inbound/outbound lead, MQL, SQL and more

Customer acquisition funnel

Customer acquisition funnels can be of much use for SaaS companies. They track and monitor leakages when prospects move between stages. It’s an effective way from companies to measure how well the company is doing in attracting and retaining customers. This is often a difficult step because moving prospects from the marketing team to the sales or customer success teams can create a high risk of losing data, miscommunicating between employees or mixing up responsibilities and metrics.

As you move through the funnel, you will realize that analyzing your content strategy is extremely important, especially when looking at it from a customer lifecycle perspective. Content strategy is a very effective way that you can get your company to increase the speed that your prospects take to pass through stages.

Customer lifecycle funnel

The customer lifecycle funnel consists of 6 stages with each one representing an action the customer must do. The first stage, at the top of the funnel is known as “Visitor”. This means that somebody must visit your company’s webpage and it isn’t until they apply for a free trial or submit a form that they can be considered a “prospect”.  If you want the customer to become an “activated user” meaning they are actually using your product (either for the free trial or whatever you have offered them), you need to put in time and resources into creating a unforgettable experience for them. This will take them from being an “activated user” to an “active customer”.

However, once you have the sale, you can’t stop. Customers that pay for the product once, don’t guarantee they will pay for a second time. It’s important for SaaS companies to analyze and discover was usage related to high lifetime customer value and a high renewal rate. Once you have this information, you can work on improving these areas which will help to earn you some “loyal customers”.

Sales funnel

The sales funnels main goal is to demonstrate what internal processes companies should follow if they wish to efficiently move their prospects  through the funnel. The funnel shows specific processes, actions and workflows which can augment the effectiveness of companies sales process.  Sales funnels consist of a variety of different components which each need to be focuses on.

Inbound and Outbound Lead

Sales funnels begin by retrieving leads which can be either inbound or outbound. Inbound leads exist when prospects will provide the company with information in exchange for an asset, for instance a whitepaper or even a free trial. Outbound leads are created after SDRs (Sales Development Representatives) target individuals who may be unaware of the companies existence. This will often take place in many different forms including cold calling, mass emailing or targeted social media messages.

Marketing Qualified Lead

It can often be difficult to make the sale even if with a good lead. Marketing Qualified Lead, known as MQL for short, helps to calculate the probability of closing a lead. Companies can help to attract users and communicate to prospects through nurturing campaigns, newsletters, webinars, etc.

Sales Qualified Lead

After prospects reach a higher score, they will be considered to be a part of the Sales Qualified Lead stage. At this stage, your sales team should have enough information to decide what level of interest prospects have in your company.

Understanding all of these different concepts and definitions will help you immensely on your path to becoming a successful project manager.

If you wish to learn more about Kanban or other project management related topics, feel free to browse through the rest of our articles at http://www.itmplatform.com/en/blog/

 

Top 5 most read blogs on ITM Platform:

The Monte Carlo Method in Project Management

Extra Extra Extra!

Three disastrous project management failures

The project in the face of adversity: what should a project manager do?

What is the Virtual Sock Management or Periodical Online Management?

 

 

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project management triangle illustration on a colorful notesAs quoted in the PMBOK, project scope is the portion of project planning that requires determining “the work that needs to be accomplished to deliver a product, service, or result with the specified features and functions.” Scope Management consists of 3 different processes: planning, controlling and closing. To understand how to successfully manage scope, you must have a detailed understanding of these 3 facets:

Planning

This is the first step. It requires you to define and document a list of all of the work that needs to be completed.

 

Controlling

Once you know what needs to be done, you’ll have to monitor scope creep, approve and disapprove project changes and track all processes. If you’re unfamiliar with the term scope creep it is also commonly known as function or feature creep. Scope creep refers to all of the continuous growth of a project’s scope or the unforeseen and uncontrollable changes that may occur.

Closing

This is the final process, it requires an audit of the deliverables where you will have to assess the outcome and compare it to what you originally envisioned the final product to be like.

As a project manager you understand that you’ll often bounce back and fourth between different project methodologies. However, regardless of which you choose to use, you’ll need to define the project scope. Make sure you are able to identify all of the following:

  • Project goals

  • Working schedule

  • Project phases and sub-phases

  • Budget

Once this is done, you should move onto completing the following 2 steps:

Step 1: Know what you need

You want to be able to develop a project timeline and get all of the resources you’ll need. To do so you should first start off by defining these needs- in other words the scope. Once you have completed this, you’ll be able to allocate tasks to specific team members.

Step 2: Understand what your objectives are

If you want to have a well-defined scope, you’ll need to have a clear understanding of what you wish to achieve through the completion of this project. For instance, you may want to develop an enhanced product or a new service. Regardless, you’ll need to outline all of the central objectives you have for your project. And as a project manager, it will become your goal and role to make sure that team members continuously aim to achieve these objectives.

Work Breakdown Structure (WBS)

The WBS is a very important component of Scope Management, however many project managers don’t realize this and choose to skip the step.  This can lead to developing inaccurate plans that create complications for the completion of the project. WBS is extremely useful because it allows project managers to break down their scope statements into small units of work that are much easier to manage. These units are frequently known as packages and the result of following the WBS is that you’ll have a list of all the work packages necessary to complete your project.

Advantage point

Being familiar with Scope Management and all of the concepts previously listed will absolutely provide you with numerous benefits. You’ll be able to manage your projects more successfully and with less uncertainty and risk of failure. However, even with the knowledge you’ve just attained, there is always the chance you’ll come across unexpected circumstances. While you can’t prevent this from occurring, you can prevent your business from crashing by depending on a strong project management tool like ITM Platform. ITM Platform has an abundance PM tools which will help you manage scope and decrease ambiguity, relieving you from unnecessary work and confusion. ITM Platform continuously guides you in the right direction by requiring you to follow the proper steps of establishing a scope: completely defining your scope, finalizing and distributing it to all team members with the help of an integrated communication system.

Scope Management is easy to implement but does require time and effort. The reason why ITM Platform would be so useful is because it aids in extending past human thinking and defining scope with little granularity.

Go to http://www.itmplatform.com to learn more and see how you can sign up for a free demo.

Top 5 most read blogs on ITM Platform:

The Monte Carlo Method in Project Management

Extra Extra Extra!

Three disastrous project management failures

The project in the face of adversity: what should a project manager do?

What is the Virtual Sock Management or Periodical Online Management?

 

Isidora Roskic-Blogger ITM Platform

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