Performance management is not just a function of human resources. Project and portfolio management is another great context for this process.
Projects are the engine that drive an organization toward its vision. As such, a mature organization with rigorous KPIs can map value from that vision all the down to technical execution on the project level and back up again.
Every initiative should have a business case with stated benefits that justify the project. This sets the priority for selecting it in the portfolio and gives a value the project team is accountable to.
Working from the ground back up, every execution activity is a piece to the puzzle that gets the project completed. In turn, every project is a brick in the wall of the portfolio that stands up the vision.
A portfolio priority requires a lot of pieces coming together. It takes a project budget, timing, resource demand, and people making themselves available even when they’re sometimes overworked. So whenever a project team member gets a task assignment, they can measure their contribution to the project. That contribution is a multiplier on the value of the project itself.
This allows the team members to have an effective way of demonstrating how their work contributes to the organization’s goal.
Of course, this can come full circle with performance management’s most common usage: human resources. The reality is if you a team hits its target ROI, then the people who deserve credit can get some big bonuses. Even in a relatively small consultancy, every “one-man department” knows what it has to do to hit that number, which focuses their activity toward that business value.
If you’d like additional information on effective project management practices or to learn more about what WiserWulff can do for your operations, please let us know. We can sit down with you to discuss your options and find a solution perfectly suited to your organization.
The Mutual Relationship between Performance Management and Project Management
Performance management is not just a function of human resources. Project and portfolio management is another great context for this process. Projects are the engine that drive an organization toward its vision. As such,...
The most important role for every ERP project
The most important team member you need in-house to run a successful ERP project is some form of Solution Architect. Vendors will often take care of most roles for the implementation itself. But someone...
The Effects of Poor Leadership in Project Management
Organizations feel the effects of poor leadership in project management pervasively. Many of the most common project ailments–including a lack of clear requirements, regular miscommunication and lagging schedules and bloated budgets–all come down to...
How to Overhaul a Culture of Project Malpractice
Expectations around project success are historically low across organizations. Poor results in the past have led many companies to believe that only a few projects will pan out, and executives often respond by thinking...
What Are the Most Important Traits of a Successful Project Manager?
When it comes to taking a project from start to finish, it’s hard to overstate the value of stellar project management. It can mean the difference between delivering an on-budget, on-time project and one...
Project Failure = Leadership Failure
Projects are often complex undertakings filled with a series of interdependent people, parts, and processes. Envisioning and bringing them to fruition takes a significant amount of expertise and planning.
Have a Mission Critical Project? You need to take these 4 steps to ensure project success
Project failure rates have been so high for so long that executives have almost grown accustomed to failure. The problem is failure is not always an option. Some projects are too central to the...
How Project Stakeholders and Organizational Influences Affect Project Management
Anyone who has worked on a project knows that it’s not just the project teams and its managers that affect project execution and success. This post will identify and examine the key external players...