Strategy Execution Playbook

Introduction

Strategy Execution Playbook

Project Management

Without establishing and agreeing on project management structures and processes, the risk of derailment becomes quite high.

• Understand the stages in the project management life cycle and choose a project management framework. Being familiar with the project life cycle will help the team develop clarity about activities, deliverables, key milestones, required resources, timeline and success measurement. • The Project Management Institute (PMI) has developed The Project Management Body of Knowledge (PMBOK), which provides a well recognized standard framework for managing projects. It describes the project management life cycle and breaks it down into five main process method and the agile method. While the waterfall method uses sequential phasing, the agile method uses iterative work cycles often called "sprints" to complete projects. See Box 0.5, p. 52 to understand the comparison between these two approaches. • One method for managing projects is through a PDCA (plan–do–check–act or plan–do–check– adjust) approach. PDCA is an iterative fourstep management method useful for teams and individuals as shown in Box 0.6, p. 54 . It helps when managing performance, reviewing progress and learning from successes and failures. Other “must have” project organization tools that have proven to be very effective include RACI (responsible, accountable, consulted and informed) charts, risk logs, Gantt charts, flash reports, etc. Some of these tools are presented in the Appendix at the end of this book. groups discussed in Box 0.4, p. 50. There are fundamentally two different approaches for managing projects – the traditional waterfall

• You may discuss and agree on the project

management tools, such as developing a project charter, to help your team agree on a common understanding of the project intent (see Box 0.7, p. 56) . It also provides a useful support for communicating your project’s intent with others.

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