Comments on: Happy Mother’s Day! http://pmstudent.com/happy-mothers-day/ Helping new and aspiring project managers reach their career goals! Thu, 18 Mar 2010 02:35:22 +0000 http://wordpress.org/ hourly 1 By: Dr. Paul D. Giammalvo http://pmstudent.com/happy-mothers-day/#comment-9416 Dr. Paul D. Giammalvo Mon, 11 May 2009 04:30:49 +0000 http://pmstudent.com/?p=2035#comment-9416 Hi Josh, This integrated portfolio of assets, combined with programs (operations) being supported by portfolios of projects, has been used by the oil, gas and mining sectors for at least 25 years and perhaps longer. (John Hollman and I are continuing our research, but the concept of integrating assets, operations and project management appears to have originated with Exxon or perhaps Diamond Shamrock and AACE's TCM Framework was authored by John Hollman based on his experiences with Kodak and IPA,http://www.ipaglobal.com/ with inputs from employees of Exxon. So this model is a tested and proven approach, and one that I have been adapting for use in Telecommunications and IT sectors for the past 4 years or so. BR, Dr. PDG, Jakarta http://www.getpmcertified.com Hi Josh,
This integrated portfolio of assets, combined with programs (operations) being supported by portfolios of projects, has been used by the oil, gas and mining sectors for at least 25 years and perhaps longer. (John Hollman and I are continuing our research, but the concept of integrating assets, operations and project management appears to have originated with Exxon or perhaps Diamond Shamrock and AACE’s TCM Framework was authored by John Hollman based on his experiences with Kodak and IPA,http://www.ipaglobal.com/ with inputs from employees of Exxon.

So this model is a tested and proven approach, and one that I have been adapting for use in Telecommunications and IT sectors for the past 4 years or so.

BR,
Dr. PDG, Jakarta
http://www.getpmcertified.com

]]> By: Josh Nankivel http://pmstudent.com/happy-mothers-day/#comment-9412 Josh Nankivel Mon, 11 May 2009 02:35:04 +0000 http://pmstudent.com/?p=2035#comment-9412 Good points Dr. PDG, thanks! Good points Dr. PDG, thanks!

]]> By: Dr. Paul D. Giammalvo http://pmstudent.com/happy-mothers-day/#comment-9411 Dr. Paul D. Giammalvo Mon, 11 May 2009 02:29:39 +0000 http://pmstudent.com/?p=2035#comment-9411 Hi Jennbedell, A belated Happy Mother's day from Jakarta.... (Monday AM here) While I totally agree with your analogy of "Mom as Project Manager", I think the analogy is even richer if you look at raising a kid as being a PROGRAM ("a series of related projects to achieve a strategic objective" which is hopefully to prepare the kid to move out of the house and get a job!!) Prior to 2008, I have found PMI's approach to be, IMPO, far too narrow, as it didn't take into account the role of program managers. (To see an excellent "open source" definition of Program, check this out http://www.globalpmstandards.org/downloads/program-manager-standards/GAPPS_Program_Types.pdf)And to see a definition of "Asset Manager" go here..... Another important role of Mom is to serve as the family ASSET Manager. She is usually responsible for the family assets, including not only the bank accounts, (liquid assets) but also the fixed assets, the intellectual assets (getting the kids out to school each morning) and the intangible assets (the reputation of the family in the community) Where am I going with this? I think PMI in particular, as they are claiming to be the largest organization representing the practice of project management, has only recently recognized the interactive role between project and program, but have still yet to realize that project and program alone, without ASSET managers, is an incomplete model. To my knowledge, the ONLY organization that has created a fully integrated project, program and asset management methodology is AACE, with their Total Cost Management Framework- An Integrated Portfolio, Program and Project Management Methodology. http://www.aacei.org/tcm Bottom line here. Project Management without Program Management and Asset Management is an incomplete construct and I believe one of the reasons projects fail with such alarming regularity is because of the lack of integration between portfolios of assets, programs (operations) and porfolios of projects. Give it some thought folks...... BR, Dr. PDG, Jakarta http://www.getpmcertified.com Hi Jennbedell,
A belated Happy Mother’s day from Jakarta…. (Monday AM here)

While I totally agree with your analogy of “Mom as Project Manager”, I think the analogy is even richer if you look at raising a kid as being a PROGRAM (“a series of related projects to achieve a strategic objective” which is hopefully to prepare the kid to move out of the house and get a job!!)

Prior to 2008, I have found PMI’s approach to be, IMPO, far too narrow, as it didn’t take into account the role of program managers. (To see an excellent “open source” definition of Program, check this out http://www.globalpmstandards.org/downloads/program-manager-standards/GAPPS_Program_Types.pdf)And to see a definition of “Asset Manager” go here…..

Another important role of Mom is to serve as the family ASSET Manager. She is usually responsible for the family assets, including not only the bank accounts, (liquid assets) but also the fixed assets, the intellectual assets (getting the kids out to school each morning) and the intangible assets (the reputation of the family in the community)

Where am I going with this? I think PMI in particular, as they are claiming to be the largest organization representing the practice of project management, has only recently recognized the interactive role between project and program, but have still yet to realize that project and program alone, without ASSET managers, is an incomplete model.

To my knowledge, the ONLY organization that has created a fully integrated project, program and asset management methodology is AACE, with their Total Cost Management Framework- An Integrated Portfolio, Program and Project Management Methodology. http://www.aacei.org/tcm

Bottom line here. Project Management without Program Management and Asset Management is an incomplete construct and I believe one of the reasons projects fail with such alarming regularity is because of the lack of integration between portfolios of assets, programs (operations) and porfolios of projects.

Give it some thought folks……

BR,
Dr. PDG, Jakarta
http://www.getpmcertified.com

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