The underlying purpose of any project is to add value. Projects serve as vehicles that enable changes, which should bring upon benefits that exceed the cost of making these changes.

As long as this occurs, a project is deemed to have been effectively and efficiently undertaken. Project managers are entrusted with the responsibility of ensuring that both the performing organization, as well as to the clients they serve, benefit from projects undertaken.

Given the very large number of interrelated considerations as well as the highly volatile environments in which projects operate, the prospect of adding value becomes increasingly difficult. Uncertainties that affect projects abound. Costs of undertaking projects continue to rise. Requirements from stakeholders become increasingly ambiguous. These factors detract value instead of adding value.

As project managers, we have to overcome any potential threats that impede the realization of this value. This include the need to protect the “Agile Ozone Layer”. This Agile Ozone Layer is usually attacked from multiple angles, from rigid and bureaucratic organizational structures, command and control style leaderships, to a functional silo mentality and resistant vendors and customers.

To ride the wave of such impediments that surface, a heightened sense of opportunistic awarenessbased on careful examination of business value undertaken throughout the project is required. Business Value refers to the net quantified benefits derived from the business endeavour being undertaken by the company.

This requires developing a sense of urgency for intelligent collection and analysis of relevant data to make decisions that enable realization of business value to the project as well as ensuring that the momentum of continual improvement is maintained. Doing the above correctly occurs only when project managers select project management methodologies that commensurate with the business environment the projects are undertaken.

Developing and maintaining a sense of urgency

When projects are to be executed based on evolving requirements in a highly turbulent business environment, the agile project management approach is most applicable. Such an approach requires a sense of urgency to be ingrained within the project team.

Changes have to be embraced and adapted to through collaborative efforts with customers. Only by developing a sense of urgency will the cost associated with delays in adapting to changing requirements can be curtailed.

Firstly, we shall have to establish a Product Roadmapthat provides an initial visual timeline based on the Project Vision. Then releases are planned using a Release Planningthat defines when deliveries may be made based on frequency of delivery as well as extent of adaptation required. A more incremental model approach, where deliverables are made at regular intervals, speeds up the delivery of value to the client.

For situations where there is no need for deliveries to be made incrementally, but there is a very urgent need for the features to be aligned perfectly to the changing requirements of the client, an iterative modelis adopted.

Realization of Business Value

To realize business value, a deep understanding of not only what the customer requires but also the value associated with those requirements has to be established.

The project team needs to ascertain the “why” behind the “what”. This is required for both the performing organization as well as for the client. The value or specific benefits the project delivers via the end deliverable needs to be understood and internalized.

This requires gradually uncovering all uncertainties within specific release cycles and working time blocks, that impede the ability of the project team to deliver the value that is expected. The ability to do so is enhanced when delivery is made incrementally based on priorities set by the client. This way, feedback from each incremental deliverable, as well as uncertainties uncovered, become valuable inputs for future deliveries. In this way the project “delivers value incrementally”, and in the process of doing so, enables realization of business value throughout the project life cycle.

Rapid Data collection and analysis 

Successfully delivering value requires constant data collection and assessment of progress. It requires developing insights on what works and what does not. This is done not based on assumption, but on actual data. 

To ascertain whether this is indeed the case, developers aim to produce what is called a Minimum Viable Product as a prototype. Such a product contains the smallest collection of features that enable customers to consider the product as being functional. This provides developers with an opportunity to test features and ascertain important improvement points quickly and effectively.

From the company’s perspective, this exercise also helps to establish what the smallest amount of value that can be added to a product or service that benefits the business as well. Collecting data on minimal new value propositions and the corresponding positive business impact provides an impetus for the company to decide quickly and effectively on what value additions it should incorporate in order to maximize business growth prospect. This concept of Minimum Business Increment focusses on therealization of business value.

In summary, delivering value requires a combination of collaborative efforts of all stakeholders who are committed towards developing and preserving an Agile Ozone Layer that makes it conducive to undertake agile project management.

A sense of urgency to deliver value needs to permeate throughout the organization. This urgency extends to rapid data collection and analysis where Minimal Viable Product and Minimum Business Increment considerations are routine initiatives undertaken using a delivery model based on an incremental or iterative approach.

Managing projects can be challenging for any organisation. It calls for a variety of special abilities and characteristics, including, among others, integrity, leadership, communication, teamwork, and delegation. If you pursue a career in project management, you will probably play a key role in all important new initiatives at your company.

If project management is your field of choice, your first step is to be up to date with the best practices of project management around the world. Best practices are covered in the Project Management Professional (PMP) certification and training courses. At the end of this course, most professionals walk away with all the preparation and confidence needed to conquer the exam and earn the PMP® certification on their first attempt. Besides passing the PMP exam, we have compiled a few more benefits and reasons that may peek your interest in being a Project Manager.

Reason No. 1: Simple Career Path

The path to a career is not always obvious in every job. Unfavourable, some could lead nowhere. Others will have waves and likely lateral movements; these are acceptable if they match your personality. On the other hand, project management career paths typically follow a straight line. 

A potential route might start with an internship in college, then a position as a project coordinator. From there, a project manager, lead/senior project manager, and assistant project manager are frequently promoted. You start leading larger teams at this point and continually advance to the director or vice president position. Due to their background in operations, project managers frequently make excellent COO candidates.

Hence, the Project Management Professional (PMP) certification will help the employer in the hiring process at the initial stage.

Reason No. 2: Numerous Career Options

Several industries only employ certain job types. For instance, there aren't many doctors employed by technology companies. The same can be said for the number of (or absence of) construction workers who work in the emergency room. But when it comes to project management, you can essentially choose your field—for example, building, architecture, software, software development, healthcare, legal, financial, energy, and so forth.

Reason No. 3: Individuality

When comparing the creation of a new product to the installation of a new software system, each new product development is a distinct endeavour that takes only one step. For the execution of any strategic initiative, a different set of initiatives are needed this year than they were three, five, or ten years ago. Although project managers often learn lessons from past projects, they continually lead and guide a new and unique initiative every time.

Reason No. 4: Increase Your Knowledge

Although a project management position assumes a depth of understanding of team coordination, there is still much to learn to produce the best outcomes. Seminars, books, and other skill-based learning initiatives can all be used to learn new things. You can also pick up knowledge from your coworkers and other professionals in your field.

Reason No. 5: Pay Closer Attention to Details

Most jobs require a keen eye for detail as a prerequisite. It's necessary for project management positions. The smaller details significantly influence the final product. A career in project management helps you notice these details and ultimately predict how each of them might influence the project. With this information, you can quickly develop strategies and fresh polish concepts for teamwork.

Reason No. 6: Making a Difference

Project management is a fulfilling career choice because it involves working with diverse team members and being challenged by problems that must be solved. You will feel appreciated in your position as a project manager if you keep your projects' timelines and budgets in check and collaborate with colleagues to ensure everything runs smoothly. Project managers assist businesses in increasing productivity and reducing costs to boost overall performance. Even though you will be overwhelmed with duties, you might positively influence those around you. You can easily stay motivated in the position because you constantly need to come up with fresh ideas and try out new methods to meet the needs of your stakeholders.

Working in project management will significantly improve your professional life if you're looking to pursue a career that allows you to feel fulfilled. You should feel stimulated and challenged in a position that will let you change industries and benefit those around you with the unique skills you learn.

If you are interested in learning more, join us for our next face-to-face sessions on the 6th until the 8th, and from the 14th until the 15th of January 2023. Our next online sessions will be from the 14th until the 16th, and from the 22nd until the 23rd of October 2022. Those who are interested, please click on the link below to have a look at our Project Management Professional (PMP) Certification, https://bit.ly/3fjreCf.

At the end of the course, you will learn about the best practices in Project Management which are divided into 3 domains, which are People, Process, and Business Environment. The course also covers the traditional and agile methodology of managing projects.

By: Sharma Management International