Somewhere I read that a Project Manager should think and act like a CEO of a small company, being that enterprise the project itself. How should you behave when appointed as a CEO at MYPROJECT Inc.?
- If you have the habit of committing, then you will feel responsible of effectively managing resources (money, people, materials, etc.) entrusted to you.
- If you have the habit of planning, you will know better than anyone about the vision, mission, values, short and long term objectives, potential threats and opportunities, relationships with third parties, process assets, quality standards, etc.
In our field of Project Management, there are many well known techniques to produce an “executive communication”. Here we are just some examples:
- Communicating on cost and schedule variations could be based on the standard EVM (Earned Value Management).
- Scope control can be graphically expressed on a WBS diagram, with the percentage of completion on control accounts.
- Status reports could be institutionalized across the organization. Recipients would appreciate the use of dashboards and RAG indicators —Red: the project is now off-plan and drastic action is needed; Amber: substantial or corrective action is required; Green: the project is on-track and likely to meet expectations.
Regarding “expiation management”, I’d like to give just two recommendations for starters: 1) a risk register and 2) an issue log.