The project manager wears no clothes

Typically, attempts to improve project management focus on the use of detailed planning and controlling tools.However, too much emphasis on the bottom-line can result in neglect of the non-financial value benefit of a project.'On time, on budget' is a recipe for mediocrity because it is based on two faulty premises: 1) that the scope allowed a project team at the onset of the project is correct and complete;and 2) that the most critical factor for success is time to market.Instead, the article recommends the use of a different mind-set that asks: What is the life-cycle value of this project and how can we maximize it?Value-based project management incorporates value from the onset, identifies all of the stakeholders and makes sure that they are on board early.It also promotes quick learning, the use of short prototyping and feedback cycles, and attacking risks aggressively.
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