PM Nuggets are short introductions to Project Management concepts, practices and techniques.
PM Nuggets provide a useful reference for practising and aspiring Project Managers. They are bite-sized video/audio clips – typically under 10 minutes on a specific topic.
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About the nugget: Is your project team clocking a lot of extra effort? Are they getting more done and ahead of plan? Or are they just trying to make up? Even with all that additional effort, will the team be able to deliver as planned? Are you close to exhausting the project budget but still have a great deal of work to complete? What are the chances of recovery? Earned Value Management (EVM) is a project performance measurement technique that helps you to find answers.
About the nugget: Cost of Quality (CoQ) is a frequently used approach in Quality Planning. CoQ seeks to quantify costs of conformance and costs of non-conformance with respect to quality requirements. It is also often used as a measure to improve operations and drive profitability (expressed as a percentage of revenue). Costs of conformance are further broken down into prevention costs and appraisal costs. Costs of non-conformance are broken down into internal failure costs and external failure costs. Examples are provided so that you can rightly classify your costs. This would enable you as the project manager to focus on prevention costs so that there are fewer defects to fix and internal failure costs so that defects are detected early and fixed.
About the nugget: Just meeting the expectations of all the key stakeholders is a tall enough order for the project manager. Exceeding expectations even taller. And that might well be the need of the hour in certain mission-critical projects. Higher order engagement with stakeholders requires well-thought-out stakeholder management plan and execution using tools like Stakeholder Engagement Assessment Matrix (SEAM) to monitor. All that can be done only when the project manager is equipped with the right skills – inter-personnel and management skills. The nugget covers all that and more – for you to keep getting better at it.
PM Power Consulting
PM Power Consulting helps organizations achieve agility in design and delivery of software and services.
PM Power Consulting Pvt. Ltd.
354/3, I Cross, I Block, Jayanagar
PIN Code: 560 011
Phone: +91 80 2657 5292