According to a Project Management Institute study, executives discovered that adhering to project management methods and strategies reduced risks, cut costs and improved success rates. Additionally, analysis shows that high-performing PMO’s meet projects original goals and business intent 2.5 times more often (89% vs 34%) and waste 13 times less money.
Project Managers have a unique skillset and when combined with their expertise it allows them to manage the many complexities of a project to achieve the desired outcome while completing projects more quickly and saving time, resources and money. Project managers focus on meeting the customer needs, build successful project teams, control risks, issues and scope changes all while having a strategic outlook to ensure long term value to the organization by meeting their strategic business objectives.
Agile Project Management is an iterative process that focuses on customer value first, team interaction over tasks, and adapting to current business reality rather than following a prescribed plan. Agile Project Management is based on the same organizational practices and key principles found in the Agile Manifesto. Agile software development is a set of values and principles where requirements and solutions evolve through the collaborative effort of self-organizing cross-functional teams. It advocates planning, evolutionary development, early deliver, and continuous improvement, and encourages rapid and flexible response to change. These values and principles are found in the Agile Manifesto; www.agilemanifesto.org.
According to the Harvard Business Review 60% of large IT projects fail. With traditional project methodologies the focus is on gathering all the requirements upfront and estimating the time and cost of the entire project upfront. Project estimates can be off by a monthly average of 3% meaning a project that is 1.5 years long could be off on estimates by 50%. Additionally budgets can be typically extended by as much as 400% with an additional 25% of functionality added to the project. Agile focuses on incremental delivery, getting priority functionality out to the user fast. The business, as the Product Owner, is part of the project team and guides the priority of the work. Because of this, across all sized projects, Agile projects are 350% more likely to be successful; small projects 32% more likely with very large projects 600% more likely to be successful.
The Project Management Institute (PMI.org) is the recognized governing body for project managers and provides many professional certifications such as the Project Management Professional (PMP) certification. More information can be found on www.pmi.org. To learn more about Agile methodologies you can visit project management organization websites such as PMI.org, AgileManifesto.org, ScrumAlliance.org, AgileAlliance.org or attend local Project Management and Agile user groups. Lastly, feel free to contact the OIT Project Management Office or visit our PM training page to learn more!
The Project Management Office is a pay-for-service organization. This fee funds the management of non-state project resources. There is a significant investment to identify, select and on-board skilled contracted project management resources. Additionally, the management and administrative oversight to continually mentor, coach and provide the project tools needed to support these contractors requires a heavy investment in time and resources. This management oversight is required to ensure all appropriate project management best practices and all appropriate policies and procedures are being adhered to. All of which is done to ensure project success.