In this post, we wanted to share with you some tips for Executives specifically for Project Management. We recently published an article here on Forbes about Leading Remote Teams for IT Executives, and today we will take a closer look at effective strategies for Executives when it comes to Project Management.
Indeed, COVID-19 had forced a lot of us to adapt and ensure that our processes and operations are in line with ways we deliver value to our customers: whether internal or external. As a Project Manager, quite often you are managing internal stakeholder expectations and it is imperative to have a solid strategy to ensure successful Project Management is in place that delivers value. In this post, we will cover 2 strategies for Executive Project Management:
Number 1: Role of the Executive Sponsor
We interview a lot of Senior level Executives from Fortune 500 companies on the IvyPodcast.com and a lot of them share feedback with me when it comes to Sponsoring Projects.
Active and engaged project sponsor is one of the key ingredients for project success. But that success factor only goes so far if the Project Manager is doing her job when it comes to keeping the sponsor engaged and supplying them with the pertinent and timely information. Sponsor engagement lies mostly in 3 categories:
- Sign off / approve of key project decisions
- Resolution of escalated issues
- Ensure other executive stakeholders are engaged
Number 2: Effective Steering Committees
One of the key activities for Project Managers is to prepare and execute an effective Steering Committee. Steering Committee, as the name suggests, are meant to be a strategy session and not a status update. Steering Committee is comprised of key executive stakeholders whose interests and/or processes are impacted by the outcome of that particular project. Project Managers responsibility is to present adequate and pertinent information to the Steering Committee in order to make the right decisions when it comes to the overall strategy of the project. Steering Committee is there to “steer” the project in the right direction and ensure that right decisions are made. Steering Committee members contribute to decision-making of key factors as:
- Resource availability and allocation
- Budget decisions
- Go / No Go decisions
A really good Project Manager prepares for each Steering Committee in advance. In fact, we highly recommend to go on a “tour” before the actual Steering Committee session (typically, each Steering Committee meets on a Monthly or Quarterly basis). The “tour” involves individual meetings with each member of the Steering Committee and going over the summary presentation of what will be presented during the actual Steering Committee. This will provide a Project Manager with insight into everyone’s stance on a particular decision to be made and make an attempt to resolve that in advance, rather than in a public forum. A successful Steering Committee is the one that ends with key decisions made. Sure, there will be several action items assigned but the primary decision is executed and majority consensus has been attained.
These are some of the strategies that have helped me and other IT Executives ensure their Projects are successful and deliver value to their organizations. In the upcoming book set to be released later this year, we cover a lot of practical strategies and case studies for effective Project Management for Executives. In meantime, check out many informative interviews with highly accomplished executives on the IvyPodcast.com
At PM Imperative, we cover the latest trends in Project Management and Product Management. As PM practitioners, we understand the value the Project Managers and Product Managers bring to each organization and that’s why we focus on the most practical strategies that Project and Product Managers can implement immediately. If you found this post useful, be sure to check out our latest book: The PM Imperative – Guide for Leading & Managing Projects, People & Delivering Value. https://pmimperative.com/shop/
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