Interpreting Business Results

Tom provides interpretation of Bank of America CEO summary of quarterly results. ... Priceless. ... Read on. ...

... "We made total asses of ourselves, allowing ourselves to be conned by a bunch of out-of-touch Nobel-winning economists with their portfolio-risk smoothing models ... " ...

Via Tom Peters: Vile Bile

Project Management Opportunity to Differentiate

Tata shares results of IT project performance survey and the results aren't flattering for the info tech profession. This consistent trend of non-performance offers companies that perform well to differentiate from the pack --- and, maybe, even achieve a sustainable competitive advantage. ...

... "Yet despite these worrying levels of failure to deliver, 43% of organisations say that their business managers and the Board accept problems as the norm. This attitude is especially common in Europe (44%) and AsiaPac (48%). Despite the general poor performance of IT projects globally, such results do not evoke a sharp reaction from management. " ...

IT Project Underperformance is the Norm

Practical Application of Innovation

Here's practical advice on applied innovation techniques. ...

... "Any Innovation plan must be just that, a hard plan. It can't be an initiative. A plan has to have milestones and expected results. These results must be measurable and memorialized in writing. " ...

Via The Heart of Innovation: Science of Innovation

Late IT Projects Hurt

HP / Economist survey shows that late projects are prevalent and having negative business consequences. Speed of delivery is the key metric highlighted in the findings. ...

... "The survey showed that accelerating speed of delivery does not have to aversely affect quality or positive business results. When project overruns do occur the culprits are usually midstream changes to business priorities and poor coordination between IT and business managers. Better definition of business requirements, greater investment in IT process automation and more collaboration across IT functions are the primary solutions for accelerating time to delivery. " ...

Via HP: Global Survey Reveals Late IT Projects Linked to Lower Profits, Poor Business Outcomes

IT Governance: Board of Director Involvement

Corning demonstrates leading practices in board-level governance of IT - setting strategy, shaping the portfolio, understanding business impact, and sustaining benefit realization. The company expects growth through innovation in display technologies, diesel products, and telecommunications. Corning has a history of innovation and continues to invest in longer-term emerging technologies. ...

... "They play an active, creative role in helping to set IT strategy, make sure they know what's in the technology pipeline and what it will mean to the bottom line, and ride the results hard. " ...

Via Corporate Board Member Magazine: Board Level Governance of IT

Innovation Obstacles: Resistance, Time

Pulse-point survey on innovation shows cultural resistance and lack of time as barriers to innovation. Langdon Morris is author of Permanent Innovation, which is the process of innovating continuously, by developing an organizational culture that embraces innovation as a core value. ...

... "Both topics are chronic problems in organizations today, and both are significant red flags that indicate unhealthy situations. If your organization is characterized by resistance to change or you don't feel you have enough time for innovation then it may be time for a serious assessment of your organization's culture, and perhaps some remedial work to shift more of your focus toward something other than short term concerns." ...

Via Innovation Labs: Results of the Permanent Innovation Survey (PDF) ...

Is Project Management Relevant?

Over the years, I've had discussions with software developers who question the need for project management. I've heard everything from "The developers are the only ones who really know what's needed anyway!" to "All the project managers do is slow things down and add unnecessary bureaucracy!" to "Why can't the the developers just work with the customer to give them what they need and avoid the middleman?"

The fact is, given the right developer and a fairly isolated project, all of these are valid statements. But many projects are much more complex than that. They involve multiple stakeholders with conflicting needs, offshore resources, multiple vendors, complex interrelationships with other activities and departments, and more. They frequently involve managing all of this against budget and schedule constraints.

Leading, facilitating, and managing all of these elements is where a good project manager can help. An effective project manager removes barriers for a team rather than adding barriers. Any activities that may appear like "nuisance work" to technicians, such as reporting time or percent complete against milestones, are often necessary to meet the project's schedule or budget constraints.

A good project manager will work with developers to determine the appropriate project approach, depending on the constraints and the level of uncertainty involved. Perhaps an agile approach is warranted, with learnings applied incrementally. Perhaps piecemeal deliverables can be achieved for quick wins and earlier value. A good project manager will also prepare management reports, conduct presentations, and deal with vendor issues.

Most of all, a good project manager will communicate to all parties throughout the project. Although some developers do indeed have the expertise to do all this, it distracts from the work they need to do.

This is not just a nuance of the software industry. The same holds true in any industry where technical or subject matter experts question the need for project management. Project management is a completely different skill set, necessarily so. It's geared toward leading people to achieve objectives. An organization can of course put the project manager in a better position to be successful by providing adequate tools, general principles, and minimal bureaucracy.

The article below offers clear and simple evidence of the importance of project management. It begins with the results of a 1999 study that showed that the number one reason companies stopped working with Internet design firms was not about their lack of creativity or high costs---it was about their inability to effectively manage a project.

Here's the article...

MB Journal Article Archives

IT Supplier: Pressure Expected

CIO survey indicates increased pressure on IT suppliers to lower costs. ...

... "... negotiating tougher terms with suppliers of commodity systems and services is a top priority in order to free up investment for strategic software development and business change programmes. " ...

Via silicon.com: CIO Survey Results

Business Results: IT Strategy

Today's IT career path requires evolving your role into a challenging place - the potential to impact business results - which comes with its set of risks. However, standing still increases the risk of outsourcing, or worse yet, irrelevance. ...

... "If they're not in the decision-making stream, playing some role that's accountable for real results from IT strategy, even on a very local, project level, they're at greater risk both to outsourcing and stalling wages. They need to work themselves into a position that's closer to business results and end customers. " ...

Via InformationWeek Weblog: Read

Managing from the Bottom Up

Yesterday I entered a post about Best Buy's new Results-Only Work Environment (ROWE), and how allowing employees total freedom as to where and how they work, focusing instead on results, has shown a 35% productivity improvement. Granted, this may not apply in every environment, but the premise of focusing on results over rules is sound.

What I failed to mention is that this initiative didn't come from the top. In fact, CEO Brad Anderson didn't even know about it untill it was well under way and showing tangible benefits. And that's just the way he likes it.

Kudos to Anderson for allowing the flexibility in his organization for innovation from within, and the courage to try new things. That is what a learning organization is all about.

Anyone who ever brought about major transformation (think Martin Luther King, Ghandi, Jesus), usually did it in a bottom-up approach, not by first convincing "management."

One other thing I failed to mention. While it's uncertain to what extent it played in encouraging this particular situation, a primary consultant to the Best Buy organization is Marcus Buckingham, the talent management guru and author of three of the most enlightening management books I've read (First Break All the Rules, Now Discover Your Strengths, and The One Thing You Need to Know). I'd venture to say that his influence has at least indirectly encouraged this people-focused mentality.

Focus on Results, not Time: Best Buy Breaks New Ground

The other day, I posted a blog about the traffic anarchy experiment going on in Europe, where seven cities eliminated all traffic signs and the result was a reduction in accidents. My point was that if we focus on accountability and results, people will surprise us.

Well, Best Buy has taken that a step further. In the latest Business Week magazine, the feature story highlights Best Buy's daring new Results-Only Work Environment (ROWE) program. As part of the program, they have eliminated all work schedules in their participating areas and have practically eliminated meetings.

If someone wants to come in at 10:00am, fine. If they go to a movie in the afternoon, no problem. The key isn't how many hours they work, or even where they work (most workers are virtual most of the time). It's how well they achieve results.

Sound like chaos? Sound like people will just slack off? Well, once again the results say it all. For the divisions testing this method, voluntary turnover dropped dramatically (-90% for the Dot.Com division, -52% for the Logistics Division, and -75% for the Sourcing Division).

Sure, the turnover rate went down, but what about productivity? That too was greatly improved. The average rise in productivity for the participating divisions was +35% since the ROWE system was introduced in 2005.

Of course, what's important to making this work is to have the right metrics (i.e. customer retention, reduction in turnover, etc.). Many business mistakes happen because the wrong incentives are in place, leading workers to strive to meet a goal that sacrifices quality or is not in the best interest of the company as a whole.

The bottom line is that evidence is growing that we are better served by focusing on results over rules and policies wherever possible, something I've been saying for years. Now I'm glad to see some tangible evidence from those brave enough to try it.

Here's the Business Week article. Be sure to check the sidebar article about how to kill meetings!

Smashing The Clock

Control vs. Accountability: Are We Our Own Worst Enemy?

In our never-ending struggle to gain more control over the chaos in our organizations, and with more and more focus on change management, who would think of going in the opposite direction and allowing more freedom?

Let's take a look at a story with some surprising results (sent courtesy of my old friend, Larry Beane).

Thanks to a project initiated by the European Union, seven sities and regions in Europe have completely done away with traffic signs. The originators of this idea must have been on to something. Contrary to the normal expectation that this would result in pandemonium, the accident rate went down!

Now arguably, this may or may not work in a congested city, but it got me thinking about the need for accountability. Perhaps the more rules we inflict, what we're really doing is relieving people of accountability---the paradox being that we need to give people freedom to make them fully accountable. Otherwise, we claim ownership of the problem instead of delegating it.

This is not unlike Toyota's policy of trusting their work teams to solve problems independently, and trusting that if their solutions are wrong, they'll work to correct it and learn from the experience. This is what a learning organization is all about.

This isn't to say we should just abandon all change management processes. On the contrary, providing people with effective processes can lead to successful outcomes. But for each rule we devise, we should consider an alternate approach of holding people accountable for outcomes, and insuring they have the capacity to succeed. Yes, provide processes, training, principles, guidelines, etc. But then focus on outcomes and accountability. And allow for learning-based corrections.

It's a radical thought, but a little anarchy may just bring the control that we need.

Here's the article about the successes of traffic anarchy...

Controlled Chaos: European Cities Do Away with Traffic Signs - International - SPIEGEL ONLINE - News

Innovation: Necessary But Not Sufficient

Recent research illustrates that companies expect their growth to be enabled through innovation, however they see significant room for improvement in their innovation process. To address their shortcomings, the survey results show a strong investment in external spending on the front-end of innovation, including customer and market insights. Survey provides additional findings for improving innovation. ...

... "Furthermore, 50% of the companies reported that 10% to 25% of their revenues over the next 3 years would be driven by products and services that will be developed over the next 12 months. Less than 5% of these companies believe they have a highly effective innovation process and only a small number are using state of the art approaches to innovation like open networks and innovation based metrics." ...

Via ArchStone Consulting: Survey Reveals 50% of Companies Dissatisfied with Return on Innovation Investment (PDF) ...

IT Architecture: Cross-Over Potential

Computer architecture principles are applied to treatment of ADHD and dyslexia with positive results. IT strategist contributes to advancement of our understanding of these disabilities. ...

... "Eugen Oetringer is an infrastructure consultant in the information technology industry. His areas of expertise include capacity management, information management, storage management, IT architecture, IT strategies, processes and complexity. He is the main inventor and author of The IT Strategy Management Process, which describes a simple way to manage important information in the midst of information overload. " ...

Root Cause Proposal for ADHD, Dyslexia, Headaches and other Conditions – Public Request for Research

Extreme Project Management: Reality Rules

I just finished reading Doug DeCarlo's book, Extreme Project Management. I met Doug at a recent PMI event we both presented at. Not only is his keynote presentation a crowd pleaser (hint: he plays the drums to illustrate the pace of a typical project and uses Noah's Ark as a sample project from the "ultimate Sponsor"), but his book is chock full of practical, immediately usable ideas.

I was amazed at how much his philosophy mirrors my own, with a focus on simplicity, value, results, and the understanding that change is inevitable. A key point of Extreme Project Management is that reality rules. Plans are nice, but then results must drive further planning instead of assuming reality will yield to the plan.

As an example of simplicity, consider what he calls "The Four Business Questions":

1) Who needs what and why?
2) What will it take to get it?
3) Can we get what it takes?
4) Is it worth it?

As another example, check out his "Three Sentence Project Skinny":

1) Who will do what for whom?
2) This project will be considered completed when: ___
3) Why? This project supports the organizations objective to: ___

The book also offers handy checklists (such as what to ask the sponsor during the first and secend meetings, etc..), the 4 Accelerators, the 10 Shared Values, the 7 Win Conditions, and more.

Although the book is the size of the Encyclopedia Britannica, it's extremely readable and has diagrams that bring together all the concepts in the book. I highly recommend it to anyone looking for a book grounded in reality as opposed to academic theory. Above all, this will help project managers succeed where the rubber meets the road---communicating and dealing with stakeholders.

Amazon.com: eXtreme Project Management: Using Leadership, Principles, and Tools to Deliver Value in the Face of Volatility: Books: Douglas DeCarlo

Singing for Project Management

In honor of International Project Management Day, held on November 2nd, the PMI GovSIG produced an entertaining musical video called Big Results. I can see the followup to "High School Musical" already.

The sound is a little out of synch from the video, making it sort of like "Godzilla Meets Project Management," but still entertaining.

Check it out below...

International Project Management Day November 2, 2006

PMI Announces Program Management Certification: Bring On the PgMP

PMI has finally announced the certification for program managers ---- the Program Management Professional or PgMP (the "sm" after the designation in the press release is for the service mark). It'll be available in early 2007.

The title is probably a good choice and has good synergy with the existing PMP designation. Of course, it's the same designation as the Program Management Plan (PgMP) from the Army Core of Engineers, so hopefully that won't cause confusion in those circles.

As I've mentioned before, the rigor of the PgMP requirements should give organizations a pretty good feeling about taking on program managers with this certification. It's based heavily on experience in the real world and feedback on results as opposed to pure knowledge.

Also, one needn't have a PMP certification to apply for PgMP certification. Here's the press release...

PMI to launch credential for program management practitioners

Talent Management: Readiness Survey Results ...

Interesting results of recent talent survey ...

Knowledge Infusion performed the 2010 Talent Readiness Survey in the early summer of 2006 to understand the talent gap to be left by retiring Baby Boomers. The study evaluates when people will leave the workforce, if there will be talent shortages that impact business outcomes, the steps organzations can take to find, develop, and retain the critical skills required for success. ...

The survey validates these findings:

Larger organizations are likely to impacted the most by the retiring workforce.

By 2010, a significant portion of the eligible workforce will retire.

To get ready: You must understand the impact on your organization. What percentage of your workforce could retire in four years? If succession planning at your company is focused more on the executive ranks, now is the time to apply succession modeling to your critical skills. Take a skills inventory. Understand the skills across the workforce demographics. Develop a plan to attract and retain the critical skills for your organization.

And, of course, digitizing your talent data enables your organization to provide visibility to this critical workforce information. Cornerstone OnDemand provides integrated on-demand solutions for talent management.

Via Cornerstone OnDemand : Managing Talent in the Face of Workforce Retirement ...

Project Results Podcast: Moral Force

Here's the latest Project Results podcast. In this podcast, I discuss moral force, the sixth of Napoleon's Six Winning Principles, which can be achieved by providing order, purpose, recognition, and rewards. Enjoy.

PMO of the Year: Do You Qualify?

As reported in PM Forum, the Center for Business Practices (CBP) is sponsoring a "PMO of the Year" award. The deadline for entries is September 30, 2006.

If your PMO has succesfully implemented new ideas, methods, and processes that led to measurable improvements and tangible results, you just might be a winner.

The winner will get extensive industry press coverage, an all-expense paid trip to the CBP Summit in Las Vegas, and more. Here's the PM Forum article...

PMFORUM, Connecting the World of Project Management PMFORUM Breaking News: New PMO Award Announced by Center for Business Practices

ITIL Six Sigma: Future IT Operations ...

The convergence of ITIL and Six Sigma is expected to be the future framework for IT operations. New book explores the use of Six Sigma in the information technology organization. ...

... "Lead Author of the book, Sven den Boer of Getronics said: This long-awaited book on aligning ITIL and Six Sigma is a good start for professionals who want to appreciate how these two approaches can be combined. Proxima Technology played a key role in the book by providing some practical examples to help make it easier for readers to understand. We were pleased to have Linh Ho on the team. itSMF-NL Chief Editor, Jan van Bon was very pleased with the results and added: We have succeeded in finding a great team of authors internationally, experts in both ITIL and Six Sigma. Today, the need for Six Sigma is continuously heard from the IT management field, and we hope to fulfill the fast growing demand with this great best practice. " ...

Proxima Technology's Marketing Director Co-Authors Six Sigma for IT Management Book

For good results; Spare the Melodrama

I just read an interesting antecdote. In 1968, during the National Basketball Association's Eastern Division playoffs, Bill Russell missed a foul shot and had only one more chance to sink the basket to seal the victory against the Philadelphia 76ers. If he missed it, the Sixers would have an opportunity to tie the game. Sam Jones, a guard for the Celtics, went up to Russell and whispered something. Russell made the shot and won the game.

Everyone wanted to know what powerful words Jones said to Russell. Eventually, Jones revealed his powerful, inspirational words.

His words were, "Flex your knees, Bill."

It's a good lesson that sometimes, a gentle reminder of what's needed is much more powerful than a lecture or a melodramatic plea. Food for thought.

July Podcast from Jerry Manas - Character

Once again, a few days late, but better late than never... In this month's podcast, I share Napoleon's thoughts, words, and actions to illustrate character, which includes integrity, calmness, and responsibility.

Incidentally, for those who wish to receive the free monthly Project Results e-newsletter, which includes information from Napoleon on Project Management, as well as articles on leadership, project management and other such topics, here's the sign up page.

ITIL Service Delivery Software ...

Software category continues to improve at ITIL service delivery processes ...

... "Targeted at distributed and disparate environments, Vigilant's Get Aware Suite offers a complete set of comprehensive ITIL based processes for service delivery and incident management. The foundation of the enhanced suite is a methodology based on results-oriented processes that assist IT organizations in correlating information and diagnosing root causes." ...

ITIL Service Delivery Software: Via Vigilant: Vigilant Technologies Enhances Powerful Suite for IT Performance and Operations Services ...

Project Failure: Asset Impairment Charge: IT Strategy Rationalization ...

IT integration projects are a tough business. Failures can be expensive, impact the bottom line, and affect careers. Here's a clear example ...

... "LCH.Clearnet has decided to close down its Generic Clearing System (GCS) project. A review of the GCS programme in 2005 had already concluded that part of the GCS investment would not be brought into economic use and an impairment charge of EUR20.1 million was therefore recognised in the 2005 interim accounts. Further work completed in June 2006 concluded that the further development of GCS was not economically or technically viable, and the Group has therefore decided not to continue to use assets from GCS within its technology strategy. An impairment charge of EUR47.8 million, which substantially relates to those assets, has been recognised and will be reported in the LCH.Clearnet Group Limited 2006 half year results to be published in August." ...

Project Failure: Asset Impairment Charge: IT Strategy Rationalization: Via LCH ClearNet: LCH.Clearnet Rationalises IT Strategy ...

Is the Role of the Project Manager in Jeopardy? - An Editorial

A few weeks ago, I posted a blog about the new Program Management credential from PMI. In it, I referenced PMI's definition of a program manager vs. project manager in their FAQ page.

A project manager, according to PMI, has the following responsibilities (I've put some of the key points that jumped out at me in bold):

• Perform their duties under general supervision and are responsible for all aspects of the project for the life of the project
• Lead and direct cross-functional teams to deliver projects within the constraints of schedule, budget and resources
• Demonstrate sufficient knowledge and experience to appropriately apply a methodology to projects that have reasonably well-defined project requirements and deliverables.

A program manager, according to PMI, has the following responsibilities (again, I've bolded the key points):

Under minimal supervision, program managers are responsible and accountable for the coordinated management of multiple related projects directed toward strategic business and other organizational objectives. These programs contain complex activities that may span functions, organizations, geographic regions, and cultures. Program managers build credibility, establish rapport, and maintain communication with stakeholders at multiple levels, including those external to the organization.

Clearly, a program manager must be closely tied to the strategic goals and benefits, monitor the program accordingly, and have a strong connection to senior management. And I also feel that the new credential seems on the surface to set the bar appropriately high.

But I can't help but feel that, in contrast, the PMP credential is losing steam. First, there are myriad organizations virtually guaranteeing an "instant-PMP" after a crash course and some tweaking of one's background experience (although PMI is now doing audits of work experience).

Second, a project manager must, in many cases, go beyond the PMP/tactical focus and possess the same traits and skills that PMI has designated as requirements of a program manager, especially in the case of an enterprise and/or global project, such as a business transformation effort. I realize PMI's role definitions are a way to differentiate and justify the new certification and I suppose one could organize their effort into a "program" to qualify for that certtification, but in these changing times (and with greater challenges for project managers), I think PMI needs to evaluate and revamp the PMP certification as well.

When I do presentations on principle-based leadership training, I have a slide where I present what I call "The PM Challenge." I present it as a boxing match. In one corner, we have a project manager, armed with MS/Project and the PMBOK, but lacking:

• Business Acumen
• Leadership Skills
• Conflict Management Skills
• Negotiation Skills
• Presentation Skills
• Communication Skills
• Strategic Intuition

In the other corner, we have the "challenger," represented by "the project," with the following characteristics:

• Global, virtual team
• Complex technology
• Complex change
• Multiple vendors
• Offshore resources
• Conflicting Stakeholders
• Scrutinizing Executives

Such a project manager, without the appropriate leadership and soft skills, doesn't stand a chance. Wouldn't a person with the skills PMI describes as a "program manager" be more apt to have success?

In the latest PM Network magazine from PMI, there are not one, but TWO articles that illustrate this point. One is titled "Project Management 2.0: Project Management is at a Crossroads," by Peter Fretty. The other is titled "No Limits," by Marcia Jedd, and talks about what project managers must do to crash through the glass ceiling and elevate it from the tactical trenches.

Perhaps a start would be to take a new view of project management beyond just "executing to a set of requirements to deliver on-time and on-budget." The current tactical focus might explain the consistent failure rates of projects. One problem is that PMI has traditionally "followed common good practices in the field," which of course is what a standard is supposed to do. The problem is that common practices have brought common results, which aren't all that good. Time for an upheaval. Perhaps they need a section, apart from the "standard" itself, for "new frontiers in project management," which could outline those who are breaking the mold with good results.

I'd be interested in others' thoughts on this topic. Who knows---It just might help drive requirements for the next version of the PMBOK and/or PMP credential.

Implementing PPM: Don't Expect Overnight Results

Karen Klein of Projects@Work interviewed Daniel Stang, a principle analyst at Gartner, on preparing for Project Portfolio Management (PPM).

Some key lessons are to not expect overnight success, to implement in stages (beginning with automating what is already working), and to engage a good change management team.

Organizations that attempt to go from zero to high level maturity via a big-bang approach run a high risk of failure. Stang also cautions against trying to sell PPM initially on the hard benefits. The benefits at the early stages of maturity tend to be softer, with the tangible benefits coming later.

Here's the article. Also, see the free PPM Software Evaluation tool offered at the bottom of the article.

http://www.projectsatwork.com/content/Articles/232143.cfm

Elusive IT Project Value: Book Tells How To Achieve It

I've just finished reading an excellent book on achieving value from IT projects, The Information Paradox: Realizing the Business Benefits of Information Technology, by John Thorp and the Fujitsu Consulting's Center for Strategic Leadership.

Thorp and company claim that today's IT projects are evolving more and more from simple automation efforts to complex "information" initiatives, and even further---to complete business transformation initiatives. This calls for a different approach and requires IT and Business collaboration.

As the book points out, the classic "let's buy a product and assume it comes with automatic benefits" approach doesn't work in today's more complex arena (and in fact it probably never did). In a complex business transformation initiative, trying to assume that an IT project in isolation will deliver value is wishful thinking.

The book also points out the four critical dimensions of complexity, which it says are blind spots in traditional thinking:

1) Linkage - to other related initiatives and to business strategy
2) Reach - those areas of organizational structure or supply chain processes that may be impacted by the change, or that need revisiting in order to bring about the benefits
3) People- those affected by the change and/or that need to be engaged (i.e. proactive change leadership and stakeholder analysis)
4) Time - the time it takes to manage the overall initiative, including the above dimensions, to fully realize the benefits (most companies grossly underestimate this)

Unfortunately, many IT projects just focus on on-time and on-budget delivery (resulting in a situation that the book describes as, "the operation was successful but the patient died"). Thorp and company refer to this as "investment myopia."

Instead, a committment to business value, ongoing process improvements, frequent iterations of delivery, and better project selection techniques are key. Most of all, we need to be aware of the blind spots mentioned above.

The book goes on to describe how a system of program management, portfolio management, and governance, with a focus on benefits realization, can bring about results. It also cautions about the dangers of treating selections as a one-time annual event, making selections in isolation (instead of in the context of investment programs), and not looking at all aspects of value (i.e. going beyond simple financial measures).

I highly recommend the book for those struggling with determining the value of IT, or trying to bring about collaborative change in their organizations. If you look at any major successful transformation, it was brought about by a marriage of technology, business process, and organizational change, and with full backing from senior management. This book can go a long way toward helping make this happen.

IT Governance: Model for Accountability ...

Is the CIO accountable for the decisions in IT governance? Michael Schrage discusses techniques for creating accountability in IT governance --- make governing boards and steering committees accountable to each other and for results. ...

... "That story often comes to mind when I hear the frustrations of IT governance and IT project steering committees designed to better align budgets, schedules, requirements and priorities. " ...

IT Governance: Model for Accountability : Via CIO: The Hammer of Consensus ...

IT Strategy: Financial Services CIO Recognized ...

CIO is recognized for excellence in strategic management, impact on company results, and deployment of advanced technology. Financial services firms are critically dependent on technology and must integrate IT strategy into the overall business strategy. Saxo Bank is differentiating itself. ...

... "In a profile appearing in Borsen in connection with the award, Ole Rossing was commended for his central role in the strategic direction of Saxo Bank. The bank has no separate IT strategy – rather, IT is a fully integrated part of the company's total strategy, placing Rossing in a particularly pivotal role for the bank's success in recent years. He has also been a key driver of the bank's exponential growth in recent years. Ole Rossing came to Saxo Bank eight years ago, at which time the bank's IT department numbered just seven employees. Today, Rossing leads 200 of Saxo Bank's 575 current total employees. " ...

IT Strategy: Financial Services CIO Recognized: Via saxobank: Saxo Bank's Ole Rossing scoops up IT award ...:

Join the Project Management Revolution; The SOPM Model Takes Shape

OK, I've been fleshing out the Service-Oriented Project Management (SOPM)™ model, and have come up with a more memorable and catchy representation of the four steps, although the actual content is pretty much the same.

The acronym for the four phases is UP-IT (which can symbolize "upping" the level of customer service, saying "up yours" to old ways of doing things, or "upping" the success rates of IT projects---in which case the "it" stands for "IT").

Ready??? Drum roll please......

The four phases are:

• Understand
• Prepare
• Iterate
• Transform

Here's a revision of my previous post on the topic...

1) UNDERSTAND ... Develop an understanding of the problem being addressed, the goals, constraints, the internal environment, the external market, benchmarks, the people and subject matter involved, potential solutions, risks, benefits/justification, and any other knowledge necessary for success. Most of all, understand the customer and what they need to be successful.

2) PREPARE ... After helping the customer obtain approvals if needed, prepare the project organization (resources, roles & responsibilities), operating principles, the infrastructure and tools needed to run the project, organizational alignment, preliminary training needed, communication, and anything else needed for a smooth road ahead.

3) ITERATE... Using the axiom, "Think bold, implement safely," plan, design, build, test and pilot the solution before attempting a full scale implementation. Encourage innovation. Implement in phases to achieve quick wins, earlier benefits, and greater customer satisfaction. Consider iterative prototypes during the design phase. Don't forget additional training needed.

4) TRANSFORM... After each project phase and at the end of the project, evaluate and document lessons learned, customer satisfaction, and benefits achieved (vs expected) for the purpose of transforming yourself and the customer for the better. This includes guiding the customer to help them achieve maximum results with the product or service delivered, and layin