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NEW TIP OF THE DAY: The Increasing Importance of Risk in Complexity, by Carl Belack PMP

Published on Thursday, December 08, 2011 - 01:29 PM

Tip #5: Prospect Theory
Wednesday 1 February

For many decades, economists have held to the theory that people make economic decisions (like those made on projects on a regular basis) in a rational, selfish, and unchanging manner (economic utility theory). In the 1970s, two psychologists, Daniel Kahneman and Amos Tversky, developed Prospect Theory, which, while using economic utility theory as its basis, supplemented some of its important tenets. What Kahneman and Tversky found (see either the 1979 Econometrica article available on-line, or read Kahneman’s important and recently published book, Thinking, Fast and Slow -Farrar, Straus, and Giroux, New York, 2011) is that, rather than decisions being made in absolute and rational terms, many decisions are based on relative starting points (or reference points to use Kahneman’s terminology).

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Leverage the Power of Coaching within your Projects! By Jane Morgan, MBA, PMP, PRINCE2 Trainer, M_o_R, MSP, CPCC, ACC, NLP Practitioner

Published on Thursday, December 08, 2011 - 01:19 PM

Introduction:

Coaching is listed as one of the 37 essential competencies for Project Managers in IIL’s 360 Degree Competency Assessment Model, the PMCA™ (http://www.iil.com/360pmca). The competency model was developed after extensive consultation with PMI®, IPMA® and the IIBA®, and incorporates essential thinking from each. As a model, it is designed to measure the knowledge and expertise of management and project delivery team members to determine training and development needs. Coaching (Competency 20 in the illustration below) is one of the seven Leadership competencies, and it is this that we will explore in this article.

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Adopting a Coaching Mindset, By Lilian Ohman, Executive Coach and Partner

Published on Thursday, December 08, 2011 - 01:16 PM

In the face of fluctuating business behavior and culture, project management remains a litmus test for measuring strong leadership practices. In this article, I will reflect on leadership in project management through the lens of a coaching mindset. I believe that in our knowledge intensive economy, project-based work is increasingly the way to cope with complex, non-routine tasks that require the balance and collaboration of diversely skilled specialists.

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Coaching the System, By Christopher Howell, CPCC, ORSCC

Published on Thursday, December 08, 2011 - 01:12 PM

Coaching is a process of facilitating a client’s progress towards defining and achieving their desired outcomes. In relationship systems coaching, the system is the client, and the “system” is a system of relationships including all the people and the relationships between them. A relationship system could therefore be a partnership, team, group or organisation.

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Coaching for Project Management Excellence, By Amro Elakkad, PMP, M.Sc.

Published on Thursday, December 08, 2011 - 01:08 PM

Many years ago, I was co-managing a Project Management Office that was made up of around 40 project managers. Many of those project managers inherited their projects, and so they became managers of projects. Many of those project managers were really engineers who lacked proper project management training or experience. I found myself thinking of training courses for these folks, until someone suggested that I coach those project managers. “Oh, coaching?” I said.

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What about Coaching and « Lean Six Sigma? » By Jean-Roch Houllier, PMP, MGP, SSCBB

Published on Thursday, December 08, 2011 - 01:05 PM

This article is a short summary of research done for HEC Business School concerning the coaching approach and the added value it could bring to Lean Six Sigma, and more precisely, to the Lean Six Sigma project manager.

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Ask Harry: A Leader’s Job is to Mentor, Coach, & Inspire, By Harry Rever, PMP – Director of Six Sigma

Published on Thursday, December 08, 2011 - 01:00 PM

During a monthly employee development meeting, an internal Six Sigma Black Belt, Will, has a discussion with a young Project Manager and Six Sigma Green Belt, Lane, about a project leader’s responsibility to coach and mentor the team. An interesting discussion ensues.

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Portfolio, Program, and Project Leadership Skills Assessment, By Frank P. Saladis, PMP

Published on Thursday, December 08, 2011 - 12:57 PM

Project management has become a key factor in the achievement of organizational objectives in every type of business regardless of size and industry. Over the years, project management has evolved and now includes several distinct functions or disciplines. These functions, Project Management, Program Management, and Portfolio Management each require a similar set of skills and competencies to survive the pressures of the position and its responsibilities. These functions are not new and have been included in business management for decades, but they are becoming more complex and each function requires a continuous enhancement of managerial skills.

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Get Out of the Box to Think Out of the Box, By George Bridges, PMP

Published on Thursday, December 08, 2011 - 12:52 PM

How many times have you heard the phrase, “Think outside the box?” Usually, when this phrase is used it is to encourage someone to create a solution or solve a problem by thinking differently. In this article, I want to show that in order for you to think outside the box, you are going to have to get out of the box. This article is designed to give you some quick and easy, but useful techniques for getting out of the box, so you can think out of the box.

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PM Choices, By Thomas Grisham, PMP

Published on Thursday, December 08, 2011 - 12:49 PM

Introduction

There are a number of project management approaches available that offer business and process choices for companies. The following is not an exhaustive list, but it does provide the most of the major approaches:

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Does your organization offer Coaching to its Project Managers?