28 March 2008 Print

Hints from eSeminarsWorldSM
Master the Challenges of a Multi-Project Environment

If you work in a multi-project environment you should know how to choose the correct projects, prioritize a project relative to other projects and resolve competition for scarce resources.

You can prepare for these challenges and more when you complete the eSeminarsWorld course, Project Management for the Experienced Professional.

Learn about portfolio, productivity and quality management, stakeholder and risk management, project metrics, and the nuances of how to navigate the political environment that accompanies every project. The portfolio management section will address the processes you must understand to work successfully in a multi-project environment.

Here are some hints on project selection — just one facet of what you will cover in the course …

During the selection process, projects may undergo several tiers of review. Groups of managers from a cross-section of the organization act as a filter that allows only the justified projects to be approved and funded. They evaluate each project against a consistent set of criteria that help determine the value of the project relative to its financial justification.

A project review board or project steering committee is a group of executives who will select or reject projects under consideration. They review the business case for the project and may question the proponent. They evaluate data from the business case against pre-defined objectives, and they make the final decision. 

Watershed and Ranking Criteria

During the selection process, proposed projects are assessed against watershed criteria, which are a series of yes or no variables, such as: 

  • Does the project fit the organization’s mission?
  • Does the project support one or more of the organization’s strategies?
  • Does the project conflict with any of the organization’s values?

If a project fails to meet any one of the watershed criteria, it is immediately rejected.

Projects that pass the watershed criteria are then subjected to the ranking criteria. Each of the criteria must be presented in an objective rather than subjective format.

Ranking criteria are:

  • organizational factors
  • cost/benefit
  • customer satisfaction
  • stakeholder relations
  • uncertainty of definition
  • technical uncertainty
  • risk
  • cultural change
  • impact

The ranking criteria include several sub-criteria. For example, a sub-criterion under organizational factors might be synergy with other projects. A sub-criterion of risk might be the regulatory environment.

Find out more and when you enroll in Project Management for the Experienced Professional with expert instructor Joan Knutson. This eSeminarsWorld course runs from 10–24 April. The registration deadline is Wednesday, 9 April.

PMI credential holders: earn up to 14 Professional Development Units (PDUs) when you successfully complete this course!
 
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