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IV. Chapter4 6 7 HR and Risk 2021 22
IV. Chapter4 6 7 HR and Risk 2021 22
Competitive Advantage
Chapter 4
Leadership and the Project
Manager
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Learning Objectives
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Leadership
“The ability to inspire confidence and support among
the people who are needed to achieve organizational
goals.”
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Leaders Versus Managers
1. Exchange of purpose -> everybody is responsible for
defining the project’s vision & goals
2. A right to say no
3. Joint accountability -> shared results
4. Absolute honesty amongst each other
TRUST
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Differences Between Managers and
Leaders
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6
Developing a Network for Organize and staff; create Align people with the target;
Achieving the Agenda structure for achieving the communicate direction by word
plans; delegate responsibility and deed to those whose
and authority; develop cooperation is needed; create
procedures to guide behavior; teams that understand and
create monitoring systems. share the project’s vision.
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How the Project Manager Leads
Project managers function as mini-CEOs and manage
both “hard” technical details and “soft” people issues.
Project managers:
• acquire project resources
• motivate and build teams
• have a vision and fight fires
• Communicate to team & outside stakeholders = key!
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Acquiring Resources
(= personnel & material!)
Project are underfunded for a variety of reasons:
• Vague goals
• Lack of top management support
• Requirements understated
• Insufficient funds
• Distrust between managers
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Purpose of Meetings
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Purpose of Meetings
1. Define project and team players.
2. Provide an opportunity to revise, update, and add to
knowledge base.
3. Assist team members in understanding role in project as
part of whole and how to contribute to project success.
4. Help stakeholders increase commitment to project.
5. Provide a collective opportunity to discuss project.
6. Provide visibility for project manager’s role.
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Communication (2 of 2)
Table 4.1 [continued]
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Characteristics of an Effective Project
Manager
1. Leads by example
Example IO
2. Visionary
3. Technically competent
4. Decisive
5. A good communicator
6. A good motivator
7. Stands up to top management when necessary
8. Supports team members
9. Encourages new ideas
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Characteristics of Project Managers Who
Are Not Leaders
Personal Flaw Organizational Factors
• Sets bad example • Lack of top management
support
• Not self-assured
• Resistance to change
• Lacks technical expertise
• Inconsistent reward system
• Poor communicator
• A reactive organization
• Poor motivator
rather than a proactive,
planning one
• Lack of resources
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Leadership and Emotional Intelligence
Emotional intelligence refers to leaders’ ability to understand
that effective leadership is part of the emotional and relational
transaction between subordinates and themselves.
Five elements characterize emotional intelligence:
• Empathy …to others’ backgrounds and feelings
• Self-awareness…of own strengths, weaknesses, motives,
feelings
• Self-regulation…of own behavior to remain under control
• Motivation…to measure progress and set challenging goals
• Social skills…to manage relationships with others
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Project Management: Achieving
Competitive Advantage
Chapter 6
Project Team Building,
Conflict, and Negotiation
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Learning Objectives (1 of 2)
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Basic Steps in Assembling a Project Team
Steps - sequential
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Effective Project Teams
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Project Management: Achieving
Competitive Advantage
Chapter 7
Risk management
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Learning Objectives
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Questions to Consider in Risk Management
• What is likely to happen? => the probability and impact
• What can be done to minimize the probability or impact of
these events? => risk response strategy
• What cues will signal the need for such action (i.e., what
clues should I actively look for)?
• What are the likely outcomes of these problems and my
anticipated reaction? => in case a risk has become an
issue
Risk from a managerial perspective?
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I. Risk Management
Risk management—the art and science of identifying,
analyzing, and responding to risk factors throughout the
life of a project and in the best interest of its objectives.
Project risk—an uncertain event or condition that, if it
occurs, has a positive or negative effect on one or more
project objectives such as scope, schedule, cost, or
quality.
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Risk Versus Amount at Stake: The
Challenge in Risk Management
NPD
project
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II. Four Stages of Risk Management
1. Risk identification
2. Analysis of probability and consequences (quantitative
& qualitative)
3. Risk mitigation strategies
4. Control and documentation
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1. Risk Clusters
• Financial • Execution
• Technical • Contractual or legal risk
• Commercial
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Risk Factor Identification
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Risk Breakdown Structure (RBS)
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2. Risk Impact Matrix
Qualitative risk assessment
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Example
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3. Risk Mitigation Strategies
• Accept • Insurance
• Minimize • Workaround
• Share • Other Mitigation Strategies
• Transfer – Mentoring
– Cross training
• Contingency Reserves
– Task contingency • Control and Documentation
– Managerial – Change management
contingency
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4. Control and Documentation
Helps managers classify and codify risks, responses,
and outcomes
Change management report system answers:
• What?
• Who?
• When?
• Why?
• How?
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III. Project Risk Analysis and
Management (PRAM)
PRAM presents a generic methodology that can be
applied to multiple project environments, and encompasses
the key components of project risk management.
Key Features of PRAM
• Risk management follows a life cycle.
• Risk management strategy changes over the project life
cycle.
• Synthesized, coherent approach.
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Nine Phases of Risk Assessment
1. Define
2. Focus
3. Identify
4. Structure
5. Clarify ownership of risks
6. Estimate
7. Evaluate
8. Plan
9. Manage
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Summary
1. Define project risk.
2. Recognize the four key stages in project risk
management and the steps necessary to manage
risk.
3. Explain the Project Risk Analysis and Management
(PRAM) process.
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