“Value Based” Project Management

One of the buzzwords I’ve been reflecting on recently is the term Value Based Project Management.  I started to think about what that term means to me not necessarily what the market is buzzing about.  Most all of us have been schooled on the core concepts of project management.  Having an in depth knowledge of what is a task, duration, resource allocation, critical path and other related project management concepts is just table stakes.  We have been training and certifying project managers on these concepts for generations but how often do you still find yourself asking why can’t I seem to find enough good Project Managers?

When I think about what differentiates a good project manager it is almost never based on their skill level with a project reporting tool or their ability to rebase line a project plan due to a shift in resource availability.  A good project manager is one that provides value to the overall effort!  The manager who can clearly articulate an answer to such questions as; Where are we? What are your core issues?  How do they impact the business? What are our plans to mitigate? How is the team? Are they confident? What would be impact on the business if reduced functionality? And on and on….

The key to a value based project manager is they understand the objective of the project and the impact to the business.  They are straightforward and clear communicators.  They are good at developing and maintaining relationships with the stakeholders and the project team.  They provide transparency to the REAL status, issues and challenges of the effort.  They seek input from the entire team to sort them out.  And last but not least they LEAD!  That’s value…..

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