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Let’s look at some EXTREMELY DISTURBING Statistics from a 2014 Gallup Poll Study! 70% of all managers make their teams worse! The wrong executives are hired 82% of the time! The good news is: The 18% who are the good hires, account for 49% of profits! 20% of bad executives can improve with training! SuccessRead More
Check out our new newsletter! UltiMentors_Insights_1Q-2016 To help business leaders keep informed on issues we have developed a printable PDF newsletter called “UltiMentors Executive & Management Insights”. The quarterly newsletter will supplement the UltiMentors Blog. Look for us also on LinkedIn and Facebook.Read More
Many people have career project management, only they just don’t know it. Perhaps it’s not in their job title or not the main focus of their work. Project management is like water, we are all swimming in it, so we don’t see or recognize it. It is ubiquitous in all job sectors, and transcends lowestRead More
Ultimate PM’s patented True Risk™ management accounts for risk in not one but two ways. Other products only account for the EMV – Expected Monetary Value of risk; but Ultimate PM® adds the ETV – Expected Time Value of risk. This is determined by multiplying the impact of all potential risks on project delay multipliedRead More
The patented True Cost™ formula captures expenses that others do not. Other products only capture the work breakdown structure cost of a project but Ultimate PM® adds the expenses of everyday business often overlooked and hidden. This includes meeting time, training and recruitment, incentives, and much more. Estimating a project reliably and knowing the TrueRead More
Pinnacle Principles™ are the best practices used by only the top 1% of project management professionals. Pinnacle Principles™ formulas and procedures go above and beyond those recommended by the PMBOK® Guide and Standards. This includes costs overlooked by 99% of PMPs; such as: initiating and planning, meeting time, project manager cost, capacity planning, and the expected time value ofRead More
Ultimate PM® provides unique value. The reason? There is no other product on the market that allows PM’s CEOs and Lenders to securely share true project status and up to the minute performance metrics. This is a transformative and revolutionary way to do business! For Project Managers: Be in the Top 1% With UltimateRead More
Overview: The human brain needs both creative and logical hemispheres to function. The same is true in business. As one can see by the chart below, both Strategic Vision and Tactical Solutions must combine for an organization to accomplish its Strategic Vision. The problem? Strategic visionaries rarely have the ability to accomplish their vision. TacticalRead More
Are you ready to pass the PMP Exam? Find out below. 1. How should a project schedule best be determined? a. Use the required by date provided by the Project Sponsor. b. Take estimates of how long the project should take from team members and utilize the three-point estimating tool. Then, apply that number withRead More
PURPOSE: The purpose of this document is to examine Agile to determine if it meets the needs of developers at the expense of meeting the needs of the organization. BUSINESS PERSPECTIVE: Project Selection From a purely business perspective, projects should be selected based upon an ROI (Return on Investment). Those with the highest differential betweenRead More
There are a number of misconceptions regarding PMBOK that need to be understood. These “misunderstandings” can lead to significant difficulties. Issue 1: CPI (Cost Performance Index) greater than 1.0 signifies a well managed project CPI greater than 1.0 simply means the estimates were greater than actual results. This may be the result of padding theRead More
IMPACT OF FAILURE: According to Roger Sessions, http://www.infoq.com/news/2013/05/it-projects-failure-costs, the cost of failed IT projects in the US exceeds $1.2 trillion annually. Global IT project failure exceeds $6 trillion. If one looks at non IT project failure impact, the numbers are simply staggering! How much of that failure loss does your organization own? DEFINITION OF ARead More
Meetings are critical to the success of a project. Yet, most project managers account for neither the time nor cost to conduct them. SO – if the definition of a failed project is “failure to deliver the agreed upon scope for the approved budget and schedule”, then meetings will unnecessarily cause failure. A foreign, butRead More
Does this sound too good to be true? It’s not. It works Every Time. Issue: Sometimes a project that must be completed on a specific date begins to lag. Assuming the project manager was as capable as PMBOK declares they need to be, that project manager will have three usual tools, 1) cutting scope –Read More
Issue: Capacity Planning is generally understood and utilized only by very high level project managers. It makes project budgets and schedules MUCH more realistic by adjusting estimates by the percentage of non worked and non productive time. Most of the project managers who actually build a budget and a schedule through the use of definingRead More
PURPOSE: There is a popular trend for organizations to become agile. I believe some of them do not even understand what that means. This document assesses the strengths and weaknesses of both to see which is best for yours. The best result may be a hybrid. This examination is not meant to be definitive, butRead More
Issue: PMI understand that unidentified risks may cause project failure unless the cost of it is determined and dealt with in a Risk Reserve. So – why do they not consider that risks have a potential to DELAY projects? Any time a risk with a potential schedule impact occurs – it can certainly delay aRead More
“People claiming never to have managed a failed project likely did not define success or never have managed projects.” ISSUE ONE: In the Project Charter, project and product success or acceptance criteria should be described and agreed. Throughout the project, scope verification should be performed to determine that the product of the projectRead More
PMBOK defines these – but not well enough to do any good. PURPOSE: The purpose of Earned and Planned Value are to compare how a project is performing against the budget and the schedule. FUNDAMENTAL ISSUE – Components of a Budget: WBS (Work Breakdown Structure). The rolled up costs of all activities, work packages andRead More
“Doing something the wrong way a hundred times doesn’t make one an expert.” WRONG WAY: Find someone with lots of experience managing similar projects. PMs typically repeat the same mistakes from one project to another. RIGHT WAY: Ask them the following questions: How do you determine the budget? The answer should include creation ofRead More
UltiMentors helps businesses develop intelligent strategy focused to drive critical projects to successful conclusion. We’re an innovator in business strategy project management consulting, technology, products, training and staffing solutions. Most notably, we are the inventors of Ultimate PM: The Project Management Power Tool. We solve client problems and add value through metric-driven products and services, industry best practices andRead More
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