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COVER
STORY
Sustainment
Modeling for Project Managers
-- Daniel W Miles
The success of many projects has been directly attributed
to the initial planning stages of the project. Most
Project Managers enter into projects at various stages
of project maturity. This article attempts to present
a successful approach for project managers by employing
the Sustainment Model concept. The Sustainment Model
will bridge the entry gap and provide the manager an
initial starting point. Like many new and innovative
approaches, an understanding of the sustainment concept,
its origin and model development will facilitate the
Project Manager's implementation of the concept. The
article also uses the example of a high-speed security
boat to provide a better understanding of the sustainment
concept.
© 2007 Daniel W Miles. All Rights Reserved.
BUSINESS
ENVIRONMENT
Change
Management : Role of Project Manager
-- Siba Prasad Pothal
Many organizations have used "Change" as an effective
strategy to accomplish several well-defined objectives.
Project change management refers to redefining the ongoing
procedures and applying change in an appropriate manner.
This article is an analysis of the key roles of a project
manager for the successful implementation of the change
and outlines some significant change management techniques
to enable the project to reach the goal.
© 2007 IUP . All Rights Reserved
BUSINESS
ENVIRONMENT
Using
Project Accounting to Boost Profitability
-- Curt Finch
The
world has changed dramatically in the past fifty years,
and with it, the global economy. Once a system largely
based on physical production and manufacturing, we are
now entering an age of knowledge work, where people
work mainly with information. This article discusses
the ways in which companies can adapt to this new knowledge
work-based economy through tracking time for payroll
and billing, regulations compliance and project management
purposes. It addresses one of the primary impediments
to success -employee resistance to time tracking-and
offers solutions on how to overcome such impediments.
© 2007 IUP . All Rights Reserved
STRATEGY
Effective
Project Management : See What You Can't See
-- Vibhuti Mishra
Often
managements, in the process of putting too much emphasis
on completion of the project, usually tend to overlook
many valuable points which demand a high consideration.
This article presents some of those unseen facts which
an effective project manager needs to take care of.
The management approaches and the management process
and challenges involved in effective project management
are described in the article.
© 2007 IUP . All Rights Reserved
STRATEGY
Project
Charter : Charting Your Way to Project Success
-- Y Chandra Sekhar
A
project charter is in effect a contract between the
project manager and the stakeholders. It represents
a formal commitment between the parties involved. Against
this backdrop, project charter is an integral part of
an organization's project strategy document and lays
the foundation for a successful project.
© 2007 Y Chandra Sekhar. All Rights Reserved.
STRATEGY
Sustainment
Modeling for Project Managers
-- Daniel W Miles
The success of many projects has been directly attributed
to the initial planning stages of the project. Most
Project Managers enter into projects at various stages
of project maturity. This article attempts to present
a successful approach for project managers by employing
the Sustainment Model concept. The Sustainment Model
will bridge the entry gap and provide the manager an
initial starting point. Like many new and innovative
approaches, an understanding of the sustainment concept,
its origin and model development will facilitate the
Project Manager's implementation of the concept. The
article also uses the example of a high-speed security
boat to provide a better understanding of the sustainment
concept.
© 2007 Daniel W Miles. All Rights Reserved.
STRATEGY
PRINCE2
: An Effective Project Tool
-- A Anand
The term PRINCE, standing for "PRojects In Controlled
Environments," is a process-based project management
method. The scope of this tool covers the organization,
management and control of the Projects. It is a standard
structured project management method from the Office
of Government Commerce (OGC), UK. Today, it has become
a de facto standard for organizing, managing and controlling
projects. PRINCE tool was initially developed in 1989
by the Central Computer and Telecommunications Agency
(CCTA) as a UK Government standard for information systems
project management. By using the PRINCE tool, managers
can control the use of resources and enhance their ability
to manage business and project risk more effectively.
© 2007 IUP . All Rights Reserved
STRATEGY
Creating
Collaboration : A Process That Works!
-- Greg Giesen
In a collaborative process, the goal is not only
to achieve a desired outcome, but to achieve that desired
outcome in the most efficient and effective way possible
for the organization(s) and for all collaborating parties
involved. This can only be achieved if the collaborating
parties pay as much attention to how they work together
as they do to the work itself. Upon agreeing to collaborate,
the first and most important component of the collaborative
process is to create the process itself. This involves
the creation of essential guidelines that serve as the
framework for how the collaborating parties will work
together throughout the project. The subject matter
of this article involves this initial phase of the collaborative
process which is the cornerstone of success.
© 2007 Greg Giesen. All Rights Reserved.
IT
PROJECTS
Managing
Projects : What it Takes to Succeed?
-- V Venkateswara Rao
Excellence
in project management goes beyond regular practices
like preparing detailed schedules and colorful status
reports, etc. To combat the myriad challenges in the
ever-changing business environment, project managers
must acquire necessary skills. Delivering a successful
project is one of the happiest moments for all the project
managers. However, encountering a project failure is
perceived as a failure of the project manager in particular
and the organization in general. In most of the cases,
new project managers hardly undergo any job training.
© 2007 IUP . All Rights Reserved
TOOL
Project
Appraisal under Uncertainty : An Option-based Approach
-- Pankaj M Madhani
In today's business environment, traditional capital
budgeting methods are no longer adequate to reflect
the dynamic world of new economy. The typical project
appraisal methods are based on Discounted Cash Flow
(DCF)-based measures like Net Present Value (NPV) and
Internal Rate of Return (IRR). However, they exhibit
weaknesses in dealing with uncertainty, complexity and
flexibility. Real options are very powerful method for
evaluating project under uncertainty. Real options approach
is a method of evaluating project investment decisions
in an uncertain business environment.
© 2007 IUP . All Rights Reserved
CASE
STUDY
Process
Development at Union Chemicals : A Case Study Focusing
on Project Communication Management
-- Gautam V Desai
The project success, no doubt, requires effective
handling of the core project management issues such
as scope, time, cost and quality. In the midst of hectic
project activities, a hard working, conscientious project
manager might sometimes neglect paying attention to
the soft skills of project management: interpersonal
skills in leading and managing the team, conflict management,
negotiation and managing project communication for key
stakeholders. This case study focuses on project communication
management and its importance of managing the communication
needs of the key stakeholders for project's success.
© 2007 Gautam V Desai. All Rights Reserved.
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