Optimizing Long-Term Project Value

The Challenge
It is a principle of Project Management that every project will produce something of value for the Sponsor (Business Value). This value can be strategic (e.g. creating a new market; improved customer retention) or tactical (e.g. adding new function to a system; optimizing business process). While the Business Value of a project is always implicit, it is often not clearly defined at the start of a project. This is a mistake. Without this information, the project manager is left without important guidance on how to plan and execute the project, and realization of intended Business Value is placed at risk.

The Solution
Project Portfolio Management makes it very clear: every project is an investment. It is essential that all of the players understand what is at stake so that the project can be defined and executed in such a way that Business Value is maximized. Having clear project objectives allows us to measure the success of the project to the point of its conclusion. Measuring Business Value after project completion goes further, allowing us to measure success at the business level. It should be the goal of every Project Manager to create a solid foundation for Business Value realization. Making Business Value an integral part of project planning and execution adds depth and power to the most fundamental concepts in project management.

This presentation establishes a practical definition of Business Value, and then explores what optimization of that value means for our understanding of the role of Project Manager, conduct of the project, and successful realization of Business Goals.

Topics include:

Project Objectives versus Business Objectives - assigning accountability
Seeing projects as investments
Rethinking the roles of Sponsor and Project Manager
Common project practices that diminish Business Value
Managing projects to optimize Business Value realization

Who should attend
This advanced PM workshop will be of value to project and program managers, PMO and portfolio management staff, anyone who requests that projects be done, and senior executives who are concerned with fulfillment of Business Strategy.

Learning Objectives - Understand the following:

Perspectives: What is a Project?
Project versus product lifecycle
Importance and timing of Business Value
Every project is an investment - the PPM perspective
Implications for our definition of project success

A Business Value view of project management practice
Project Objectives versus Business Objectives – assigning accountability
Rethinking the role of Project Sponsor
Implications for the role of Project Manager
Transition - Making product delivery happen
Current project practices that cause trouble
Managing projects to optimize gain

Business Value drives Best Practices - Five Steps you can take now

Learning Approach

A highly experienced instructor will use interactive lecture format, hands on exercises and group discussions to drive home the essential points of this material
We will build on your prior experience in this topic, while providing you with a structure and vocabulary to use in future projects.
If you have modest project management knowledge, you will find that the clarity of the material and direct presentation style of the instructor will make the subject matter easy to understand.
You will receive a Participant Guide which will help you follow the material, take notes and retain what you learned so that you can apply it on your job.

Why should I take this workshop?

This course explains how to ensure that Business Value is fully considered throughout the life of a project and beyond. As a result, your organization is more likely to get what it wants from its projects.
Attendees take home a whole new set of best practice, tools and techniques that can make them more effective in their work.
Learn what you can do to enhance the Business Value that your projects deliver.

What students have said about this course

Yes, it definitely made me think beyond the circle of PM's traditional role! Dr. Evans had a lot to cover and did it effectively.
Outstanding food for thought!
The presentation was presented at a good pace to cover the material, yet convey the thoughts clearly. I really enjoyed this workshop.
Knowledgable and dynamic! Knew his message and conveyed it well. Very well done. Good concepts for PMs to know!

Every course and workshop in our Project Training program is fully customizable. We offer virtual delivery of the training program you need. Call us: +1.919.495.7371.

All of our courses are fully compliant with the latest release of each relevant standards document such as the PMBOK® Guide, Standard for Portfolio Management, BABOK® Guide, and others.

Course Information

Course ID: 7056
Duration: Half Day
Class size: 6 to 40
Includes:
· PMP® certified instruction
· Participant Guide
· Participation Certificate
· 4 PDUs

Download this course description as a printable PDF document.

Pricing Information
On-site discounts are available.

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(+1 919-495-7371)

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