Program Management Office - What you should know?

What is PMO (Program Management Office)?

According to Project Management Institute (PMI) , a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. PMO helps to coordinate these efforts with defined standards

Surprisingly most of the businesses doesn't understand the importantce of PMO and how it help businesses to grow. In a simple terms, PMO tracks the project progress and maps to the organizational goals.

Project Vs Program Management
The general process and terminology at program level is similar to the project level. However, the program management processes address issues at a higher level and involves less detailed project-level analysis.

Like project management processes, the program management processes require coordination with other functional groups in the organization as well as stakeholder management in general-but in broader context.


Types of PMO (Project Management Office)

Supportive PMO: It's common type of PMO exist in most organizations. The prupose of this PMO is to provide necessery support to project teams through audits, reviews, standard templates, coaching, mentoring, stakeholder management, administration and any other necessery support activities as required.
Controlling PMO: It provides all the support described in Support PMO structure in addtion it is also responsible for enforcing standards, audits, processes, risk, and governance
Directive PMO: This is not a common structure in many organizations but it's very effective in a project certric organizations. In project centric organization, every initiative will have a standardized project structure with defined goals and budget to manage and control the initiatives. In this type of organization, the PMO owns the project delivery includes stakeholder management, managing teams, controlling the risk and outcomes, and any other related tasks.

Selling PMO concept, especially in IT Services Industry
Traditionally PMO was looked at it as an organizational overhead which steers the policies and procedures largely useless. It's changing especially in the project based IT services industry, the project based engagements.
The following are the key decision points to discuss with your management to get buy-in
> Control project costs by standardizing the project resources
> Reduce the project run-overs by better managing the risks
> Better managed stakeholder expectations
> Leveraging the sucess across other projects in the organization
> Focused approach eliminates expensive mistakes like loosing a customer etc.

Phases of PMO life cycle
1. Initiate a program
2. Planning a program
3. Execute the program
4. Monitoring & Control the program
5. Improve PMO

Qualifications for a Program Manager
1. Ability to map project outcomes to organizational goals
2. Strong leadership skills to manage teams, stakeholders, and other external agencies
3. Should possess outstanding negotiation skills
4. Strong Verbal and Oral communications skills
5. Business know-how
6. Ability to manage all risks with stable focus on the outcome
7. Quick learner, problem solver, risk owner, and flexible
8. Champion of business and people
9. Minimum of a Bachelors degree's in any discipline, a MBA or formal training in PM is required

References:
1. Project Management Institute - Standards for Program Management
2. The Program Management Office - Craig J. Letavec

more to come.....

Happy Learning

Sameer Penakalapati
sameer.penakalapati@gmail.com

How to write business plans? A basic approach

With my 5 years of experience in writing business plans, I learned some of the basic parameters that make you ahead of others. Here is what you need to know

Do you have answers for these questions?

1. You may have an idea for a product or service, right? If so, is it unique of some sort?
2. Have you done any research for information or similar services that you are dreaming for?
3. How practical or capable to make it reality
4. How do you manage required funding? Have any thought about partners or equity funding or other sort of engagements to help you with this venture.

If you can answer yes.... Congratulations... please continue

Here is what you need for a solid business plan:

Business Plan components:
1. Write your Vision / Mission
2. Opportunity
3. Market Strategy
4. Business Strategy
5. Organization and Operations
6. Management
7. Core competencies and Challenges
8. Financials
9. Risks & Contingency Plan

Once you have all the information ready, you can present it in few different ways.

Executive Summary
It should be one page document with Vision/Mission, Opportunity, Strategy, Other financials information

Presentation / Reference manual

Arrange presentation in the order of business plan components above and also can provide hand-out with some specific details

If you need further information or help, write me at 'sameer.penakalapati@gmail.com'

I am not a sales guy, but here is why it matters?

Yes, true, I am not a sales guy so i don't need to sell...that's what you think?...then read, here is why it matters!.

Think about these situations....


1. To sell your idea to your boss, eventually you may get a bonus!
2. To sell your self (resume) to a potential employer
3. To sell your service or product to a new or existing client

and many more day-to-day job and life situations, hence some of the basics might help you to make a successful sale


1. A successful sale is to determine and quantify how a buyer could get benefit your idea/service, dollarize the benefit wherever possible

2. Determine how your sale increases buyer productivity, increase in productivity not only saves money but also reduces the development life cycle, which is a big selling mantra

3. Quantify a loss of not buying your product or service, plan a very calculated approach to prove your point, else it may be tough sale.

4. Make your sale pitch with 2-6 slide presentation. Hand-out can be provided to support the presentation with the details

5. At end of your sale pitch, ALWAYS ask for an oder. Many end sale without asking an order, you don' ask - you don't sell, always remember


more...keep watch my blog for more interesting topics


Cheers
Sameer Penakalapati
sameer.penakalapati@gmail.com

Why negotiation skills are so critical in personal and professional life? here is what you should know

Negotiation skills comes across every part of our life, negotiating with your kids, spouse, business, at work with your peers, your boss...you name it. But many fail to handle well, few points to know though this is a subject of its own to cover every situation.



1. Always go for 'win-win' negotiation, keeping everything neutral (emotions, egoism etc.)

2. Understand your fair interest and the interest of the person you are with negotiation

3. If you are a buyer and in negotiation with a seller on an offer/point of a discusion, always support with some benchmark or reference, it's easy for the negotiation

4. If both parties are not comfortable with the negotiation, take a time to come back later as it leaves both parties time to think

5. Avoid confrontation at any stage of negotiation

6. A good negotiation leaves a future merit for a business relationship, or even a good friedship

7. Keep your negotiation not more than half-an hour to an hour at a stretch, take a break, it gives some time to think through it before you reopen the discussion

8. Show your inerest to open for new ideas

9. Treat everyone involved in the negotiaton with great respect

10. Thank every one at the end of the negotiation, no matter if you made a deal or not

Are you midst of outsourcing your IT? or had a futile attempt? here uncover these facts

IT outsourcing is not new to the industry any more and it is matured than ever, but we still learn tragic stories and how companies go wrong with it so badly. I would like to offer few tips to uncover surprises which can save tons of money (few hundreds to millions of dollars)
1. Don't get into the trap of big/small outsourcing companies; look at their ability to deliver what you need.
2. The IT management (CIO/Directors/Managers) must communicate to their IT organization why and how outsourcing strategy is good for their company
3. Ask vendors about questions on attrition, skill development, hiring strategies, data protection, data privacy and many others may be unique to your business/industry.
4. Don't make your vendor selection factor alone based on low cost, but you should give equal importance on skills availability, expertise knowledge, responsiveness, flexibility, can-do attitude (be like your partner)
5. Do not sign-up for a big multi-year contract to start with, always try with low-risk, low-impact to business type projects typically a 3-6 months duration.
6. Setup a Vendor Management office to track the performance of the vendor(s) based on the Service Levels agreed in the contract. Make sure you also have a clause in the contract for penalty for not meeting service levels.
7. Always have minimum 2 outsourcing vendors to compete at your advantage in terms of price, quality, service, and to mitigate risk
8. When the relationship evolves with the vendor involving them in critical projects and support activities, keep your vendor management have an eye on vendor business (specifically their finances, key management changes, acquisitions etc.) to uncover surprises
and many more...if you need more information, write to me at sameer.penakalapati@google.com

Do you know what your customer is looking for?

Well, many people seems to have a trouble with it. My experience working with sales teams to senior management, many get excited to share what they are good but a little focus on what customer wants.

Here are some tips to avoid costly mistakes

1. Listen, Listen, Listen
2. Question to know their 3 most pain areas
3. Ask your customer, what needs to be done to make their job easier and more productive
4. Know your customer business, industry, and current challenges
5. Know your customer vision, and strategy
6. Align your product/service to their vision/strategy
7. Always dolarize the return on investment
8. Present case studies and references with ROI
9. Position yourself as an advisor not a salesperson
10. Show your willingness to help the customer

More will come......