Project Management Best Practices

My experience at PMI’s 2009 North America Congress was excellent and, as always, well worth the trip. I met and exchanged ideas with some of the top practitioners, researchers, consultants and authors in the project management industry.

There is no doubt about it. The benefits realized from a sound and well-organized project management methodology based on globally recognized project management standards have been well established. These benefits cannot be overstated. Organizations that make full use of the power of a project-focused environment gain a competitive advantage over those organizations that do not leverage this power. They also gain a competitive advantage over those organizations that publish an “official” project management standard but make little or no attempt to implement it or to make it a part of organizational policy. *

One of the hot project management topics at the Congress was the P3MO (project, program, portfolio management office). Another was that of “value driven project management”, the topic of Harold Kerzner’s closing session speech and the topic of his new book, co-authored with Frank P. Saladis.  An integrated project portfolio management environment (i.e., a P3MO) with a focus on driving business value represents the state-of-the-profession thinking right now. I can personally confirm that this approach is beginning to emerge out in the field. At my most recent client, a global life insurance company doing business on three continents, my colleagues and I recommended exactly this approach and delivered guidelines for achieving this. **

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