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What is required for effective project control?

 "A system is in control when the goals of the system can be predictably met better than 95% of the time."   W. Edwards Deming

Sadly, strategy and project delivery are not 'in control'. Strategies are poorly executed. Projects go over cost, over time, under deliver, are compromised or fail completely. TOP's research shows that projects are more likely to FAIL 95% of the time, on one or more dimensions. 

'Out of control' projects waste millions in unnecessary expenditure as well as foregoing the gains. If you allow your projects to continue to be 'out of control', it can halve your returns on investment and cause you to miss key competitive opportunities.

Poor performance has become the norm but it needn't be. To steer projects to deliver the desired results you need the right controls in place for these to be effective.

Why take this Masterclass

This Masterclass explains the controls required to deliver successful projects.

Most projects are set up to solve problems and deliver outputs. This is not what you want. You want to fully deliver the specified new operational business end states with all of the available benefits and value—so as to successfully realize the targeted strategic results. 

This Masterclass covers the three base components needed for success: future state definition, current state analysis, and change activities need to move between the two. These are the foundations that you need to have in place.

Accountability for controls is spread across business executives, investment committees, sponsors and steering committees, portfolio managers and project managers. They all need to understand and execute their respective controls well to eliminate waste.

Most of the critical controls are OUTSIDE of project management — you cannot therefore rely on project managers to fully control projects.

The Masterclass explains which controls are needed, and how they need to work.  The orthodox reliance on project management and its controls is why so many controls are missing or deficient

provides you with checklists so you can assess whether or not you have these controls in place and they are operating effectively.

Too many of the necessary controls are missing, deficient or ineffective. In fact, too many of the necessary controls are not even known about let alone managed.

And every gap or deficiency is costing you money and devaluing your business results. Yet the solution is simple. Most of the necessary controls exist outside of project management. 

This Masterclass covers the controls required at the investment, governance, portfolio and project levels, together with checklists and guidance on assessing your current controls.

You may believe that your organization is average or ‘okay’ at managing the required controls. But, the difference between an average and a good organization is a factor of at least three – good organizations deliver three times the returns for less cost and in less time. They do this by both eliminating waste and increasing the value delivered.

The difference between average organizations and great organizations is a factor of at least five

The prize for managing the appropriate controls effectively is significant. The workload to obtain this prize is now easily achievable. Your challenge is to get started!Some controls can take 20% out of both your project and ongoing operational costs. 
Others can take up to 40% off your initial costs-to-deliver
Others can double or more the number and value of the benefits identified.

Individually, you can ensure your projects are a success
Corporates can ensure they increase the ROI on their project portfolio and successfully execute their strategy

Learning Outcomes

On completion of this masterclass, you will be able to implement effective project controls which:

  • Simplify strategy and value delivery for boards, executives, business staff and project practitioners
  • Avoid your time and cost being wasted on non-strategic projects while increasing the business value targeted and realized
  • Simplify your management and governance of projects, the portfolio and your strategy
  • Stop poor projects being approved or condemned to completion once approved
  • Increase the realized ROI on your project investments
  • Enable you organization to acheive results compareable to the TOP 5% of successful and effective organizations worldwide

Masterclass Content

Program and Project Control Master Class clip

This Project Controls Masterclass covers 32 project controls across five dimensions with transcripts for the presentations and checklists.

  1. Understand the three core project components
  2. Identify and define the 9 business controls that are the foundation of project control 
  3. Identify and define the 6 business investment controls — to ensure you get the best bang for each buck
    • Worthiness assessment
    • Feasibility assessment
    • Business case
    • Validation assessment
    • Prioritization and approval
    • Health diagnostics
  4. Identify and define the 6 project governance controls — to ensure your Sponsors and Steering Committees focus on and deliver the expected value
    • Scope management
    • Value maximization
    • Value optimization
    • Viability assessment
    • Value delivery
    • Value measurement
  5. Identify and define the 6 portfolio management controls — to ensure your portfolio of projects and programs successfully deliver your strategy
    • Strategic contribution assessment
    • Project register
    • Standards compliance
    • Investment management
    • Portfolio delivery
    • Benefits delivery
  6. Identify and define the 5 project management controls — the principal controls business management needs to make sure are in place on the project to ensure the successful delivery of all projects or programs.
    • Project charter
    • Project plan
    • Workload and cost estimation
    • Project delivery
    • Value delivery

Preview

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Subscription: USD$2,200 for 12 month's access.

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