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
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
