PMISAARC Conference 2010 will be held in Colombo from 24-26 September 2010, at Hotel Galadari
Courtesy of Hugo Wisidagama - President, Project Management Institute, Colombo Chapter
Today's, CEO is a Project / Programme Manager for his Company and to his employees.
Most of them may not agree to this, however if they logically analyze a Good CEO is a Good Project manager ,who always Achieves all his/her Company Goals ,Positive results with higher profit margins, while keeping all his Stake holders satisfied. (Share holders, Board of Directors, Customers, Employees and Suppliers not forgetting the Authorities too). CEO also needs to be like a Programme manager who also must emphasizes the coordinating and prioritizing of resources across organisation. Similar in the Program management. CEOs must have Programs that are normally designed to deliver the organization's strategy.
Analogy
Today CEO's job responsibility is to meet the Board of directors, shareholders and also employees.
These expectations are to be met according to an annual business plan, which means he has to drive the teams to achieve the Results yearly, quarterly, or even monthly, not only aspects of financial but also customer satisfaction and employee satisfaction too.
Project Stake Holders :
Analysis of the chart of the stake holders according to him or her has to satisfy in terms of Project Management Terminology are 4 categories.
Share holders, (Public or private) Board of Directors represents the Share holders, Customers, who is the key revenue generator and not the least the Employees - task performers, some time even
Further Suppliers/Partners, who is also part and partial of Business process.
Project Duration: Every CEO will have a one year to achieve the agreed Financial Figures with a planned Profit margins and also customer satisfaction with Market growth - which means achieving the TIME Goal of the Project with COST-Profit which is Triple Constraint in Project Management too. This will be the knowledge required Time Management and Cost Management too.
TRIPLE Constraints of Project Management - Business Achievement
COST Vs TIME
TIME Vs SCOPE
SCOPE Vs COST
To achieve such Goals he/she requires resources such as Human Capital and Materials and also use some technology/Tools , with selected processing suitable to each operations too. This means HR management -Key employees, and Procurement management/Supply Chain Management is the knowledge is key to success of his/her operations.
Success of any Product/service is produced or maintained is the required quality acceptable to customer base, which is an industry standard or adhere to international standards such as ISO/ANSI or some form of 5S , Global quality standard. This means the Knowledge of Quality management and Practice of Quality assurance and Quality control to be adhered to his/her business operation. Quality does not come free, so the cost of this will be added to daily expenses or annual Budget too. Cost of Quality will reduce the Product or Service issues during the warranty period. Also improve the brand image or Customer satisfaction in the long run Quality planning
Every organization has its own goals, targets annually and they are clearly defined at the annual planning meeting and well documented and also communicated to all employees and time to time this will be reviewed with teams. Especially this is for a CEO well communicated by the Board of Directors. CEO will have to communicate to His team, sometimes formally or informally to boost the morale too. This is clearly defined to areas of Project management such as 'Scope management' defined for a year or a period, and communication management, which involves all forms of communication for success to handle day-today problem handling and finding solutions.
As a successful CEO many Risks have to be taken from time to time to improve business and also compete with other markets too. This is also called Risk Planning and also handles any unforeseen risk the methodology such as Mitigation, Avoidance or transferring could be used as an industry Practice, most commonly accepted today. Some times there is no choice to avoid or mitigate however, some risks will be absorbed, so in real life the method requires additional funds in resources and also secondary plans will be considered at the time of planning and executing phase. This knowledge could be used in Risk management .
Knowledge, Methods and Techniques.
Overall all this knowledge, technology, and tools will be applied time to time as an, when needed as a CEO who is the key program/project manager of the organization. So this will be called Integration management.
To acquire more Knowledge in these 9 Areas which aretaught in Project Management such as Scope Management, Time Management, Cost management, Human Resource Management, Procurement management, Quality Management, Risk management, Communication Management and Integration Management are the ways to upgrade knowledge every manager or CEO's please contact Project management Institute Colombo Chapter.www.pmicolombo.org.
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