Company information

PulsePM Limited is a Project Management Services Company

PulsePM Limited is a limited company registered in England and Wales with registered no 6864540 and registered office at Swinford House, Albion St., Brierley Hill, West Midlands, DY5 3EL

VAT Reg: 987 7030 77

 

Copyright © 2010 PulsePM Limited

 



PULSEPM

PulsePM is a project management services company. We aim to provide PM consultancy that offers clear business benefits.

Project management Competence - A Road to Profitability

By increasing your company’s Project Management competence you could realise the following benefits:

  • Ensure customer satisfaction
  • Maximise “up sell” opportunities
  • Get all invoices paid
  • Achieve Revenue and margin targets.

Project Management is seen by many as a “necessary evil” that is an overhead to the price of a deal, particularly as a project nears completion. It is all too tempting to pull a project manager from a nearly finished delivery to start on a new, more significant deal. Sometimes somebody is put on the deal to close things out but they may not be effective as they are not targeted correctly. With careful attention effective closeout can ensure loose ends are tied up and final invoices can be submitted with confidence.

Strong and effective project management ensures you get the best out of your project teams and your projects deliver their value in a timely manner.

A review of your project management competencies should include:

Scope Management is an area that regularly takes a deliverable project from profit to a loss making situation. This is especially applicable to new customers where the tendency is to keep the customer happy rather than confronting difficult issues in the early stages of delivery. It is a simple fact that the longer we take to tackle these issues the more expensive they become to resolve. Another area that can weaken your position with your customer is the tendency to ignore small scope changes and that are too trivial and not worth the effort to table with the customer. However, experience suggests that even if the changes are small and irrespective of whether we charge for the changes, they build up good will and can be used in later negotiations.

Good risk management is sometimes overlooked and I’ve personally heard sales teams saying that a deal has been loaded with risk. Defining risk early in the sales cycle ensures that you are best placed to negotiate the best price. Effectively managing risk during delivery is also often overlooked – it is no good defining risks during the sales cycle and then saying you have a risk log and therefore you’re addressing risk. Risk management requires regular review and clear ownership to ensure that risk plans are tackled effectively. There is also a tendency for people to forget that risk can be beneficial (i.e. it presents opportunity for additional sales).

Good time management is something that prevents or ameliorates impact of revenue due to liquidated damages or other penalties. If you were to ask your Project Managers what the critical path was on their project, how many would actually know? Critical path analysis can be essential to the effective planning of a project especially when it is where there is “time is of the essence” in your delivery.

Accurate financial forecasting is an important element of the Project Manager’s responsibilities. As always, the rule of “no surprises” applies here but how often do you get surprises? More than you’d like probably. Cost management is something that should always be on the top of the Project Manager’s responsibilities but often isn’t.

Quality management is something that can be overlooked and in some cases, overdone. Ineffective quality management generally leads to solutions that end up with high lifetime costs as maintenance becomes an overhead once the solution has been implemented. Over engineering a solution results in expensive projects that do not necessarily realise cost benefit. The simple question that must be asked here is “how critical to my business is this solution and is my approach to quality going to ensure my solution is fit for purpose”?

Effective communications management planning is essential to any project but often “Stakeholders” are not understood by the less experienced Project Manager. Keeping stakeholders informed can often prevent misunderstandings occurring later in the delivery cycle.

Potential Outcomes

One route to improving these competencies is via professional accreditation such as Project Management Professional (PMP) or PRINCE II Practitioner status. Indeed these can demonstrate an overall level of competence but more is learnt from the training process itself where colleagues share experience.

Another is by creating or selecting the correct PM methods and tools that fit your business. Rather than reinvent the wheel, re-use of the right tools and templates that have worked can ensure consistency of delivery.

A review of your Project Management practices could help identify areas to target with improvement plans for staff (e.g. mentoring, training or recruitment) or process improvement. These areas for improvement would focus on where the impact on revenue and profitability can be maximum value to your business.

Contact PulsePM

If you are interested in talking to me about how PulsePM might be able to help you improve your PM Competency, please contact us.