Project management help on: commercial and contractual challenges and concerns
Introduction
The commercial and contractual challenges and concerns faced by this project’s partners and financial investors
Results from some of the recent surveys conducted by ESI international sited that one of the most pressing tasks for the high executives including managing complex projects, and managing and coping with the changes both internally and externally within a program or portfolio. Among the key challenges of today’s project managements are:
1. The magnitude of project complexities has increased significantly over these recent years. This is mainly due to the increase in competitiveness among competitors. The ability to adapt to these changing requirements, with the development skills and efforts need to go side by side with the change in requirements as well. However, the skill to manage these changes is still scarce today.
2. Some of the uncontrollable changes are the environment or organizational changes which might impact the program itself. These changes need to be handled with greater flexibility. A good project manager need to adapt to the rapid changing metrics and organization goal, by successfully tracking the progress and outcome of the project without any hiccups.
3. The ability to communicate and liaise effectively with team members and stakeholders is the key challenges of a project manager. While developing and improving business analysis competencies, and integrating project management and business analysis roles/functions were tied as the second most pressing.
4. Managing Global projects and dealing with multiple people from different regions / countries with different culture, language, life-styles and time zone has been cited as a greater concern to commercial organizations than to government entities. Whether it is for commercial organizations or government entities and regardless it is a Global project or a regional project, the role of a project manager don’t change, which is to manage and drive for the end results.
5. Managing high risk projects has been cited as a pressing issue for some of the conventional leaders whom prefer to lead less risky and therefore less challenging projects but are more manageable. High risk projects constituted the types of projects which has no way to roll back due to the budget constraint, scarce of capacity, licensing constraint etc.
6. Non-centralized communication flow often led to misinterpretation of key messages which will eventually ending up with unnecessary issues and misunderstanding among the organization. This is one of the challenges which a project manager must try to avoid.
7. Increase complexities in today’s projects with much wider scope and increased dependencies which are beyond our control, co-exist within one single project. The more the variables, the harder it is for the project manager to manage these variables at the same time.
8. Ensuring that all researches, activities and coordination are carried out within the project are of the highest quality standard despite the change of the variables from time to time. So whether it is a sudden cut in the project budget, or a 20% reduction of head-counts support, the project timeline is still intact as per what have been committed at the envisioning stage of this project.
The conceptual problems and difficulties doing a social cost benefit analysis can be summarized:
1. Some benefits and costs are not measurable in monetary terms.
2. When it is a situation of multiple projects, which is true in the case of many governmental or public systems, it is difficult to apportion or allocate the expected benefits amongst the different projects. This is so because the exact component of the expected benefits may not be directly attributable to each individual project. The benefit expected may be as result of the integrated developmental projects. For example, we all know that rural development is the result of various projects such as major irrigation, minor irrigation, providing infrastructure facilities, credit facilities, provision of fertilizers and seeds, development of rural industries, and the integration of a host of other such developmental projects to get the desired beneficial effect. In such cases, the location of the developmental benefits to any one of the projects is definitely a difficult exercise.
3. Public systems projects, which are development oriented projects, may alter the income distribution of the people who make use of these projects. This redistribution of income may alter the price structure significantly from what it was at the time of the initial project feasibility analysis. This would therefore pose questions regarding the validity of the project feasibility analysis.
4. A particular discount rate of interest is assumed in the calculations. This assumed rate of interest of the comparison of costs and benefits, is actually an assumption regarding the public’s time preference rate of interest: which means that it is the rate of interest to be charged for the future flow of benefits which will come as a result of the sacrifice of current consumption by the consumers (i.e. public). This expression of time preference also raises questions regarding the entire cost benefit comparison and feasibility analysis.
Inspite of such difficulties of applying the cost benefit principles to public systems, projects, the objective of such analysis is sound. In the absence of such analysis, we shall only be disregarding the effect of various public projects on the people for whom it is primarily meant. Moreover, for many public projects for instance, road building there is little or no financial return to be gained. In such cases, there is no alternative but to resort to social cost benefits analysis is either out of the question or not of much help.
The cost benefit information can be used to rank the technically feasible projects and thus select projects optimally. The analysis may be Financial Feasibility Analysis and/or Social Cost Benefit Analysis. The principles of capital budgeting and the choice of projects under limited availability of funds have already been discussed.
Projects which look financially feasible may need to be looked at more rigorously through Technical Feasibility Analysis. The idea is to screen the project initially with a broad technical and financial analysis. Those that are obviously not very good ideas may thus be rejected and rigorous analysis of technical and financial or economic feasibility can be applied to the remaining project ideas.
Compare and contrast the critical path on the Nemo project plan with the high-level project schedule and any discrepancies between the two
The personal relationships highlighted in the Case Study and how they could be managed
Here are a few techniques that can be used if you feel that you are not getting on with, or not getting through to, someone with whom you are dealing. First, pay attention to the need for clear communication. Use simple unambiguous language, and explain the reasons for your proposals or requirements. Never get angry and always be polite (but not unctuous). Remember that aggressive and demanding people often have fairly thick skins. And obsessive people often feel that something is being hidden from them. Tell both sorts of person that you intend, if they agree, not to beat about the bush. They will always agree and then you can deal with any problem in blunt terms.
Next, pay attention to your relative status. We all communicate with each other as superiors, equals or inferiors and we frequently adopt different approaches to the same person at different times. Problems invariably arise, in work as well as at home, when one party’s approach does not meet the expectations of the other.
The usual starting point in any analysis of expectations is that we all expect to be treated with respect, and with due recognition of our different skills, experiences and perspectives. For instance, we should not talk down to Ministers (although some colleagues seem to forget this) or to the public (ditto) and Ministers should not talk down to us. Sometimes, however, this approach needs to be abandoned. For instance, you may need to defer to a Minister or manager, e.g. if time is short, or if he or she clearly has much more experience or knowledge than you, or if he or she has already heard enough and wants you to accept their decision. The need for you to do so is usually signaled pretty clearly. If you are slow to notice the signals then problems will certainly follow. Equally, excessive use of deference can also cause problems. Ministers, managers and the public expect to deal, most of the time, with experienced professional civil servants. Lengthy displays of deference will cause them to write you off as inferior in ability as well as status.
So if your relationship with someone seems to be fraught or distant, or if you suspect that they actively dislike you, consider carefully whether you are signaling superiority, equality or inferiority when they are expecting something else. It is then usually best if you change your approach to meet the expectations of the other, but it might be necessary to signal strongly to the other person that you expect them to adopt a different approach when dealing with you.
Finally, we need to work with people as they really are, not as we would wish them to be. We are each, to different extents, extrovert, introvert, practical, creative, analytical, driven by beliefs, flexible and structured. Some people will be quite different from you, and you will think them decidedly odd. You must put all this on one side when assessing whether the person concerned is talking sense and acting effectively. But you should learn to go further and to some extent adapt your own behavior to the character of the person with whom you are dealing. If you proudly treat everyone in the same way, you are certainly not dealing effectively with many of them.
Options open to the Monocorp team to prevent further delays and, if possible, to bring forward the completion and sail away date of the D Platform
Delays can at the least disrupt the progress of a business. These delays may even destroy a business. Delaying a product, idea, or any other part of a business can end in unrest in the public. During your project management experiences, you will be facing delays & slower delivers. It’s a tough challenge, but by using the following tips & tricks you can avoid slower deliveries of your project & eliminate the pressure from your customer or boss.
Find quicker way – Focus on plan
Project managers normally spend more time on execution phase, because the execution phase has lot of excitement & attraction. Try to first focus on your plan & make it smart, so you can identify shortcuts which enable you to produce the deliverable in less time.
When you have done your project plan, take more time to review it from the point of view of delivering it faster. You will find that you can schedule your activities in a way that takes less time with less effort.
Avoid manual activities
Due to any reason such as unavailability of proper collaboration tools project managers spend their valuable time on collecting fact & figures of project for tracking activities. You need to avoid your manual daily activities like weekly status report, documenting expenses, updating timeliness & etc to help you do things faster.
You don’t need to perform these activities manually. You can invest or get free project software to do all this for you. Your team will be updating their progress on that project software & project software will be summarizing all information for you automatically. All you need to do is run reports & view the current status of your plan to ensure it remains on track.
Monitor execution closely
When you comes in execution phase of your project you will have to monitor it with your plan. You will need to ensure that direction of your team is according to plan. Remember, It is very easy to make a plan on your notebook & team takes their on right direction. You can also avoid slower delivery of your project by minimizing risks & issues before they occurred, not giving higher priority on unplanned activities, unless critical activities, not implementing change request, unless these are critical.
Multiply your resources
It is very hard to assign more resources for almost all project managers due to limited budget & pool of resources. But if you can assign double resources then it will be easiest way to avoid delay in your project.
Just at least try to assign more resources on critical activities of your project. If you assign more resources to these activities than are necessary, you can usually achieve them earlier than planned.
Give priority to critical activities
Do not worry if your difficult task takes more time to complete. This is because the team has left the difficult activities for the end time, which happens to be when they need rest.
If possible, initiate critical activities at the start of the project, when team is fresh & passionate. You will see that your team will finish critical activities in less time with standard quality as compare to end of the project. Rest of the project should be easier for you & should take less time
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