January 2018: Why do you need to have a PMO? A Project Management Office (PMO) is a special purpose organizational unit that's considered a catalyst for project success in project-based organizations. It is a unit that acts as a central orchestrating authority and a center of excellence for project management. Types of PMOs vary depending on the functions assigned to this unit and its level in the organization. It can be associated with senior management level and covering strategic roles like portfolio management, or it can be providing execution direction for projects and programs across their lifecycle, or it can be a repository for standardizing the project management methodology within the organization and development of the project managers skills. Launching and continually improving and maturing a PMO in your organization will have a direct positive effect on your bottom line results.
December 2017: Are you suffering from escalating commitment? Most likely you have gone through this experience without realizing it. Escalating commitment can happen when you are immersively focused without recognizing the wider scope of consequences of continuation of an activity. It is defined as continuing to be committed to an endeavor that has been showing repetitive evident signs of failure, and continuing to add resources to it aiming at changing the the track back to success. It's some sort of illusion and denial of admitting the fact that the endeavor has failed and should be discontinued to limit losses and to release resources for use in other potential initiatives. Reasons behind escalating commitment can be shortage of information that the endeavor is no longer viable, or personal threats or interests for the decision maker. This is not to be confused with persistence and belief.
November 2017: How do you manage relationships in business? Many aspects of management activities are sort of managing relationships with various parties in different directions. You are either dealing with suppliers and you need to manage relationship with them to guarantee successful delivery of results from them, or managing relationships with customers to maintain and retain their loyalty and satisfaction on continual basis, or managing relationships within your business hierarchy related to internal transactions and exchange of services and information among teams and departments, or other kinds of relationship. The purpose and success criteria for each kind of relationship management depends on the particular type of the relationship, and expectations of each party regarding the roles and responsibilities of the other party, and the capacity in which you are entering into this relationship.
October 2017: Why is it important to challenge your assumptions? All human activities, be it in business or in personal life, involve some sort of assumptions. Those assumptions are a main source of risks, unless they are questioned and validated and accounted for in plans. The problem with assumptions is when they are taken as facts and decisions are made on that basis. So, as a best practice, assumptions should be factored out, documented, discussed, and validated, then continually reviewed and checked for validity as work progresses throughout the activity under consideration. Validation of assumptions is done based on assessment of accuracy, reliability, probability, and impact, and it is done by the team in charge of managing the endeavor. Don't wonder when you analyze some failure to find it eventually boiling down to some wrong assumption that went overlooked.
September 2017: Is it possible to fear from success? May be surprising, but many people suffer from this. Fear from success is one of the limiting factors that prevent people from achieving their full potential. For example, the fear that makes you reluctant in taking a promotion, expanding operations, or pursuing a new project. Reasons behind this counter-intuitive feeling is usually related to consequences of success, things like lack of confidence of the ability to fulfill what it takes to sustain success, worries about competition fight back, or even desire to avoid visibility. Fear of success is simply because of 'False Evidence Appearing Real'. To overcome this prohibiting psychological state, make sure you do your upfront homework in analyzing and studying your opportunities, exploring risks, and making an informed decision by considering all available alternatives.
August 2017: Do you learn from your failures? Failures are almost always perceived as negative occurrences, and they actually are, but at the same time failures are a rich source of experience and learning to build your personal or organizational accumulated knowledge. Successes are the fruit of a series of trying, experimenting, failing, and acting upon your learnings and findings out of the repetitive experiences. This is how positive thinkers look at their endeavors, and this is how an endless journey of continual improvement and growth is pursued. Failures vary in size and impact, and could at times cause unrecoverable consequences, however what doesn't kill you makes you stronger, more resilient, and more insightful in your future endeavors. Fear of failure can hold you back from success, so rephrase fear as: Fail Early And Responsibly, to look at failure more positively.
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