Change Management

Change Management:An overview of the Project

Management Institute (PMI) and the importance of Benefit Realization

Management for Project Managers and Financial Professionals

Welcome to the Financial Management Institute WebinarThursday, November 7, 12:00pm EST

Panel:• Yvan Bastien, Professional Development Trainer at

Global Knowledge, PMI OVOC (Ottawa Valley Outaouais Chapter), and Founder of BANYA Consulting

• Marc Billard, Director of Outreach at PMI OVOC (Ottawa Valley Outaouais Chapter), Consulting Manager at Keelut Consulting

Moderator:• Marcel Boulianne, Senior Policy Analyst at the

Office of the Comptroller General of Canada, Treasury Board of Canada Secretariat, and President of the Financial Management Institute of Canada

Phase 1 Phase 2 Phase 3 Phase 4

Definitions

• What is PMI and their Certifications?

Added Value

• Added value of a PMI Certification to the career of a Financial Manager

Benefit Realization

• Ensuring the intended benefits of a project

Summary and Q & A

FMI Presentation project (Agenda)

Phase 1

Definitions

• What is PMI and their Certifications?

• The Project Management Institute (PMI) is an international professional society for project managers founded in 1969

• More than 600,000 members and credential holders in 185 countries

• There are specific interest groups in many areas, like engineering, financial services, health care, IT, etc.

• Project management research and certification programs continue to grow

5

[Phase 1] The Project Management Institute

1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 -

50,000

100,000

150,000

200,000

250,000

300,000

350,000

1,000 1,900 2,800 4,400 6,415 10,086 18,184

27,052 40,343

52,443

76,550

102,047

175,194

221,144

267,367

318,289

Year

# P

MP

s

Certification initiale:• Project Management Professional (PMP)Additions récentes:• Certified Associate in Project Management (CAPM)• PMI Risk Management Professional (PMI-RMP)• PMI Scheduling Professional (PMI-SP)• Program Management Professional (PgMP)Dernière addition:• PMI Agile Certified Practitioner (PMI-ACP)

[Phase 1] PMIs Certifications

• Provides a common lexicon• Supports the manager’s job increasingly

involved in projects, programs and portfolios

• Facilitates the management of Stakeholder expectations and Communications to end-users

• Increase the chances of the organization to repeat success from one project to another

[Phase 1] Benefits of Standards

Phase 2

Added Value

• Added value of a PMI Certification to the career of a Financial Manager

A post-secondary education:• College Diploma• University Degree• Etc.A work experience:• Financial Management• Accounting• Etc.Other professional certifications:• CA/CPA• CMA• CGA• Etc.

[Phase 2] Added value of a certification to:

Torch Bearer

Project Sponsor

Portfolio Manager

Program Manager

Sr. Project Manager

Project Manager

Project Coordinator

Project Lead

Team Lead (BA/Dev.)

Sr. Analyst/Developer

Project Administrator

Education / Certification:• Post-secondary• PM Certification always

mandatory

Work Experience:• Time (recent or not)• Budget (Costs)• Human Resources (FTEs)• Scope (other MC and RC)

[Phase 2] Requirements for the job

[Phase 2] Ex.: PMI OVOC Outreach ProgramDevelopment of PM opportunities

NPODevelopment:

MembershipOpportunitiesRelationships

NPODriving Forces

Opportunity Development

Approach

•Strategy & Program Design•Volunteer Management •Open Source Solutions•XRM for NPOs•Sources of Funding

•NPO Recognition•Member Benefits•Volunteer Engagement

Phase 3

Benefit Realization

• Ensuring the intended benefits of a project

• Benefit Realization Management (BRM)– An investment is only successful if the benefits that stakeholders

were hoping to get are actually realised.

• Project Management (PM)– Project management is the discipline of planning, organizing,

motivating, and controlling resources to achieve specific goals.

[Phase 3] Definitions

• “The Value Proposition” : Businesses must assess their “Value Maturity” as well as their “Project Management Maturity”

• PMI – Creation of the Stakeholder Management Knowledge Area

[Phase 3] Trending Topic

PM Network, August 2013, p.40“The Value Proposition”

Matt Alderton

[Phase 3] Strategy vs Tactics

3-6

Die Slow Thrive

Die Fast Survive

Good

BadGood

Bad

Tactics“Doing Things Right”

Strategy

“Doing Right Things”

Redefining Project Success – 3 Fronts

Project Management• Time & budget• Quality deliverables• Do things right

Benefit Realization• Managing transition• People side• Measuring ROI

Sponsorship/Leadership• Vision & Direction• Prioritization• Do right things

Portfolio

Programs

Projects

Prosci.com

Finance managers can help focus here

[Phase 3] Diffusion of Innovation

Everett Rogers, Diffusion of Innovation

Change + People = Transition

Benefits

Project

[Phase 3] Setting Up for SuccessS – SpecificM – MeasurableA – Agreed ToR – RealisticT – Time Bound

[Phase 3] CHAOS Report (Standish Group)Agile & Iterative Development – A Manager’s Guide, Craig Larman, Addison Wesley, 2008

PMI Chapter Event Prioritization

20% 30% 30% 20% Weighting

Event / InitiativeOperations

Value

Promote Membership

Value

Prof. Profile& Visibility

ValueFinancialBenefit Score

Volunteer program 3 3 3 1 2.6

Symposium 1 3 3 3 2.6

1-day Professional Dev'l Training 1 3 2 2 2.1

LIM/R3 participation 3 1 2 1 1.7

Value Assessment

[Phase 3] Prioritization - Are We Doing the Right Things?

Must continuously re-prioritize as circumstances changeStrategic direction

Additional weighting

Simple Scoring Model (1,2 or 3)Things we are doing

Phase 4

Summary and Q & A

• Project Management certifications are a great complement to the skills of the Financial Management Professional

• Experience in a project management role is necessary to develop the individual, can start everywhere (e.g. NPOs) and can be provided by your local professional chapter through their programs.

• Development of these skills among your employees can benefit the development of your organization

• Benefit Realization Management is a shared responsibility where Project Managers must focus on intended benefits, as much as the Triple Constraint

• A focus on Benefit Realisation can help position you as a key Partner for the organization.

[Phase 4] Summary

Contact Information:

Marc Billard: [email protected]

Yvan Bastien: [email protected]

Questions and Answers

Be sure to tune in to next month’s webinar!• “Fraud in the Public Sector”• Presenters: Francis Liska and Marc-André Audette• Thursday, December 12th, 2013 at 12:30pm EST