2015 - Navigate Consulting-Project Management Masterclass
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Navigate Consulting is a Perth-based management consulting firm that focuses on building long-term strategic relationships with clients across various industries. The document outlines the firm's services, team credentials, and the importance of effective project management skills for consultants to drive successful initiatives and enhance corporate strategies. It also discusses project planning, execution, and the significance of relationship management in ensuring project success.
2015 - Navigate Consulting-Project Management Masterclass
- 1. Introduction to Consulting and Strategic Project Management June 12th, 2015 This information is confidential and was prepared by Navigate Consulting solely for the use of our staff and clients; it is not to be relied on by any 3rd party without prior written consent.
- 2. 2 Project Management Approach Agenda Sample Deliverables Introduction to Consulting Q&A
- 3. 3 Navigate Consulting is based in Perth, Australia and focuses on the development of long-term strategic relationships with its clients Services We provide management consulting services to our clients across the value chain Develop Strategy Optimize Operations Sell Products & Services Business Strategy / M&A Asset Analysis / Disposition Market Analysis Organizational Transformation and Design Business Process Mapping and Optimization Procurement & Supply Chain Management Product Strategies B2B / B2C Lift Pricing Customer Management Channel Development Marketing Strategy Procurement & Supply Chain Management Areas of Expertise Organizational Transformation and Design Business Process Mapping and Optimization Summary Navigate Consulting is based in Perth, based management consulting firm whose services are retained by large and middle market companies Staff Credentials Our professionals bring former Big 5 and boutique strategy consulting experience to every client relationship Our people have worked with clients in multiple industries including Banking, Telecommunications, Retail, High Tech, Financial Services, and Not-for-Profit Our team has a diverse background that includes Tier 1 MBA education, large systems implementation experience, procurement transformation initiative leadership and strategy development and execution Mission Partner with our clients to develop and deliver critical initiatives that address their most difficult challenges and build the capability to improve their top and bottom lines Community As a firm, we are actively engaged with university programs teaching and leveraging our relationships to benefit students Additionally, our Associates are committed to community involvement and are personally engaged in multiple community organizations
- 4. 4 Management and Technology Consulting firms offer clients a variety of service offerings, rate structures and value propositions Firm Type Sample Firms Service Offerings Value Proposition Lifestyle 1 Strategy • McKinsey & Co. • Bain • BCG • Booz & Co • Monitor Deloitte • Corporate Finance • Operations • Organizational Structure • Strategy • Hardcore analytical skills • Typically, broad based capabilities with advanced degree from Tier 1 global universities • Strong CXO experience / relationships • Significant hours and travel • Extremely challenging work • Ample internal projects • Hyper- competitive environment 2 Large / Former Big 5 • Accenture • Deloitte • PWC • KPMG • E & Y • Consulting • Technology • Outsourcing • PMO • Gigantic bench strength • Leverage industry knowledge, service- offering expertise and technology capabilities • Identify new business and technology trends and develop solutions to help clients around the world • Significant hours and travel • Engagements often center around technology implementation • Extremely broad range of services provides opportunity for project diversity 3 Middle Market Down • Navigate Consulting • North Highland • Slalom Consulting • CIBER • MANY others • Consulting • Technology • Staff Augmentation • PMO • Flexibility • Similar value propositions to Firm Types 1 & 2, though on a smaller scale • Less overhead / levels • Rate advantage, sometimes • Varies • Can be centered around work-life balance • More project exposure • Typically, experienced hires 4 Software Vendors • SAP • Siebel • Cognos • Oracle • Implementation • Data Structure • Architecture • PMO • Optimization of business operations • Leverage technology to reduce cost • Business transformation • Significant travel • Focus on SDLC • Often based on Go Live / Release Schedules *Sources: • A variety of firm sites were researched and incorporated into our analysis • ConsultingMagazine.com • Vault.com Consulting Industry Summary*
- 5. 5 Consulting economics are fairly straight forward, however, when you blend rate, utilization, client budget and competition it gets complex Consulting Economics Summary ► Professional services have three fundamental measures to gauge economic performance: 1. Actual Engagement Rate 2. Actual Consultant Cost 3. Utilization/Chargeability (How often a consultant is actually earning their rate) ► Firms within the industry are focused on: 1. Obtaining the highest rate 2. At the lowest cost 3. For the longest period possible 4. The problem is, it never works that way 5. No revenue and no pipeline = bad ► Given how fragmented consulting is, pragmatism, interpersonal skills and the desire to compete means anything goes: ► Selling is different than delivery ► Client budget is a limiter Firm Type Rate, Cost, Utilization Limiters 1 Strategy • Rate: Very High • Cost: Very High • Utilization :Relatively Lower • Demand for strategy work is limited • Extremely high cost • Often 1 and done 2 Large / Former Big 5 • Rate: Low to High • Cost: Low to High • Utilization :Higher • Extremely large projects sought to staff extremely large teams needed • Clients get tired of being sold the kitchen sink at every opportunity 3 Middle Market Down • Rate: Low to High • Cost: Low to Medium • Utilization :Highly Variable • If aggressive or high rates, client’s may perceive as Strategy / or Big 5 “I thought you guys were different?” • “Who are you again?” 4 Software Vendors • Rate: Low to High • Cost: Low to High • Utilization :Higher • Technology implementations are intrusive, expensive and large ones often under achieve expectations
- 6. 6 Agenda Project Management Approach Sample Deliverables Introduction, Background, and Objectives Q&A
- 7. 7 The ability to effectively manage projects is vital to career progression Background • You have a real-world BHP Billiton case study that you are already working to tackle • You’re excited about challenging yourself in the workplace after graduation • Effective project management can help in both instances Meeting Objectives 1. Discuss the critical components of effective project management 2. Present a practical approach that works Takeaway Goals • Learn a thought process you can use immediately • Get advice you won’t find in your text books Use the BHP case study as an opportunity to build your project management skills
- 8. 8 Project management skills are a key component to maximizing your potential as a consultant • Long-term corporate viability depends on effective project management 1. Corporate strategy defines what the company needs to be to in the future to be successful 2. To accomplish the corporate strategy, many initiatives/projects must be completed 3. Failed or marginally successful projects can derail the corporate strategy • Effective project management unifies and motivates the workforce to accomplish more than otherwise would have been possible • Differentiate yourself; the world is full of people who “do stuff”, but there is a shortage of those that take the initiative required to successfully drive projects to completion
- 9. 9 • Identify project team in addition to list of key stakeholders • Create relationship management plan • Determine primary project goal(s) • Define detailed project requirements • Create detailed project plan Chronologically, there are a number of key activities that should be performed throughout a project’s lifecycle Define Implement Present & Transition Goals Objective Key Activities Key Exit Criteria 1. Build or maintain a competitive advantage, or reduce a competitor’s advantage 2. Build relationship capital with key stakeholders • The project has a clear purpose • The project team has been defined • All key stakeholders have been identified and relationship development plans are in place • Detailed project requirements have been defined and a project plan has been created Determine project goals and create detailed project plan Execute project plan while building unified support Communicate project completion and transition as necessary • Update and communicate project task plan • Identify and mitigate issues • Perform quality checks on key tasks and deliverables • Communicate progress and escalate issues • Transition ongoing support if applicable • Make project completion presentation to sponsor • Always look for additional opportunities that were uncovered during project execution • Execute relationship management plan • All project tasks have been completed and validated for quality purposes • Critical risks to project budget and timeline were identified and proactively mitigated • Ongoing support team is positioned for success • Official approval has been received from the project sponsor • Related additional opportunities have been reviewed for operational and financial viability 1 2 3 We are going to dig into the details in three parts: 1 2 3Relationship Development Project Planning Project Execution
- 10. 10 Understanding and accommodating for the human element is invaluable Project Management Project Planning Project Execution Illustrate how the strategic objective will be accomplished, step by step Manage the execution of the plan while mitigating risks and issues Purpose Why This Matters Relationship Management Planning • The best plan in the world won’t work if the people don’t understand it, don’t buy into it, or don’t trust you • Relationship capital is the ace up your sleeve that enables you to escalate issues and request additional support when needed • This will raise your game and awareness Build the relationships needed to gather the required information and support/buy-in Internally Managed Externally Managed 1 2 3
- 11. 11 Building strong relationships with key stakeholders enables you to collect difficult to find information, attain buy-in, and escalate issues Relationship Management Identify all Key Stakeholders Define the Role and Perspective of each Key Stakeholder Create Relationship Management Plan Purpose Identifies the list of people that hold keys to the project’s ultimate success Defines how each key player contributes to project dynamics Details the steps necessary to build each key relationship Overview: Relationship Management Planning Having an separate plan for managing relationships may seem like overkill, but in practice it may be the most important planning you can do
- 12. 12 Sample questions to identify key stakeholders: 1. Who are the key advisors to the decision maker? Who are their advisors? 2. What types of hard-to-get information might I need? Who has access to this data? 3. If critical issues arise, who might I need in my corner to offer advice, additional resources, executive support, etc.? Identifying and analyzing the key players is more art than science Relationship Management Identify all Key Stakeholders Define the Role and Perspective of each Key Stakeholder Create Relationship Management Plan • Identify all stakeholders that can have a significant impact on project success – To the good and the bad • Identify not only decision makers, but also key influencers – Sometimes the most influential on a given project aren’t the highest on the ladder • Understand what each stakeholder cares about – Work expectations – Personal values Key Activities Practical Advice Refer to appendix for Stakeholder Analysis template
- 13. 13 • Gain credibility by taking initiative where other people make excuses • Any time you raise an issue, have an opinion on how it can be fixed • Collaborate frequently to expand on your ideas and build support • Present yourself appropriately – dress for the job you want Win the support of key stakeholders by having a plan and staying on top of it Relationship Management • Set a relationship goal for each stakeholder – Be realistic, and know the minimum requirement • Account for where you currently stand to assess relationship gaps – Again, be realistic • Define the steps required to build each desired relationship – Usually these revolve around demonstrating capability, building rapport, and getting things done Key Activities Practical Advice Refer to appendix for Relationship Management Plan template Identify all Key Stakeholders Define the Role and Perspective of each Key Stakeholder Create Relationship Management Plan
- 14. 14 A project plan is the proof-of-concept that you will use to gain support and motivate the team Project Management Project Planning Project Execution • Turns a complicated project into a set of smaller, more manageable pieces • Provides the roadmap to build and maintain buy-in from project team and extended stakeholders • Done well, the plan provides meaningful opportunities for others, offering personal growth and increasing their commitment Illustrate how the strategic objective will be accomplished, step by step Manage the execution of the plan while mitigating risks and issues Purpose Why This Matters Relationship Management Planning Build the relationships needed to gather the required information and support/buy-in Internally Managed Externally Managed 1 2 3
- 15. 15 Project Planning A good project planning process ensure that you not only create a technically sound task plan, but that it makes sense to others Purpose The overriding purpose of the project, often tying directly to a strategic initiative Breaks a complex project into a set of smaller, more manageable components Sets a series of small objectives that in aggregate accomplish the primary goal(s) Identifies current capabilities and/or progress relative to requirements Define Primary Project Goal(s) Create Project High-Level Milestones Define Detailed Requirements Assess Current State Create Project Task Plan to bridge the Gaps Details, step by step, how gaps between current state and future requirements will be met Overview: Project Planning Process A good project plan is the proof you need to sell your approach
- 16. 16 Defining a primary project goal is critical in not only ensuring the proper direction, but also in motivating and unifying the project team Project Planning Define Primary Project Goal(s) Create Project High-Level Milestones Define Detailed Requirements Assess Current State Create Project Task Plan to bridge the Gaps • Have a comprehensive understanding of the goal and how it should improve the company’s efficiency, intelligence, return on invested capital, market share, compliance, etc. • Be prepared to effectively communicate this message to the project team and leadership • For projects directly tied to the corporate strategy, the goal should be obvious – Be realistic, and know the minimum requirement • For projects not on the strategic radar, define the expected business benefits – Make sure your project doesn’t conflict with the corporate strategy Key Activities Practical Advice
- 17. 17 By breaking a complicated project into it’s key subcomponents, you can more easily define requirements for overall project success Project Planning • This is your biggest opportunity to simplify the project… simple is good • Break the overall goal into its various components (top-down approach) – Incorporate the project team to get their valuable insight and build commitment • Perform a sanity check on your diagram to ensure that all endpoints sum to the primary goal (bottoms-up approach) – Again, leverage others Key Activities Practical Advice Define Primary Project Goal(s) Create Project High-Level Milestones Define Detailed Requirements Assess Current State Create Project Task Plan to bridge the Gaps
- 18. 18 Once a diagram is in place, defining future requirements relative to current state identifies project gaps Project Planning • Goals should be very specific and date oriented, otherwise it may be difficult to know whether its been achieved • Don’t take guesses – work with subject matter experts to define requirements – Having good relationships here is crucial • Set goals for each component of the project diagram – Define what “done” looks like • Define the requirements necessary to reach each component’s goal • Assess current state in relation to each future requirement – This identifies the gaps the project plan will need to address Key Activities Practical Advice Define Primary Project Goal(s) Create Project High-Level Milestones Define Detailed Requirements Assess Current State Create Project Task Plan to bridge the Gaps
- 19. 19 A task plan is used to show how each goal/requirement will be met, who is responsible for its completion, and when its due Project Planning Tips for building task accountability: • Build strong executive sponsorship • Sell the importance of each due date • Offer your help… most people will not need it but will appreciate knowing it’s there • Create a fair balance of work for each team member • Provide growth opportunities for others through task assignment • Assess the gaps identified from the previous step • For each gap, define all steps required to achieve the requirements • Assign an owner for each task • Explicitly define start and due date for each task – Account for dependencies and their impact on project schedule Key Activities Practical Advice Refer to appendix for Task Plan template Define Primary Project Goal(s) Create Project High-Level Milestones Define Detailed Requirements Assess Current State Create Project Task Plan to bridge the Gaps
- 20. 20 A good idea without good execution is a waste of time Project Management Project Planning Project Execution • Maintains the sense of urgency and importance • Identifies risks and issues early so they can be assigned, escalated, or otherwise mitigated • Serves as a platform to complement and reward to maintain morale and incent desired behavior Illustrate how the strategic objective will be accomplished, step by step Manage the execution of the plan while mitigating risks and issues Purpose Why This Matters Relationship Management Planning Build the relationships needed to gather the required information and support/buy-in Internally Managed Externally Managed 1 2 3
- 21. 21 Proactive day-to-day management is required to properly execute a task plan and ultimately drive successful project completion Update & Communicate Project Task Plan Identify and Manage Risk Perform Quality Checks Communicate Progress Purpose Keep project plan current and communicate task expectations to ensure all task owners are explicitly aware of what is required Effectively identifying and managing risks ensures that project tasks are completed accurately, on time, and within budget Validating the accurate completion of critical tasks is critical in upholding a consistent standard of quality throughout a project Communicate how the project is progressing – keeping leadership and the project team aware of progress, successes, and risks/issues Ongoing Project Management – Parallel Activities Project Execution Advice Prevent people from using the excuses: •“I didn’t know I was responsible for that” •“I didn’t know when it was due” • Use a structured risk and issues process • Know when to escalate risks/issues • Procrastination is the surest way to turn risks into issues… start strong and maintain momentum • Effectively communicate quality expectations, this will increase their quality of work • Be constructive with feedback • Be concise in readouts • Have an opinion with executives – “kinda” doesn’t cut it • Learn when and how to give callouts (good and bad) to incent behavior Refer to appendix for Risks & Issues Log templates
- 22. 22 Project Management Approach Agenda Sample Deliverables Introduction, Background, and Objectives Q&A
- 23. 23 Appendix: Stakeholder Analysis template Key Stakeholder Role How are they measured? Other insights VP Procurement Executive Sponsor Overall operational performance Under pressure from COO to reduce inventory levels to improve liquidity Supply Chain Manager Requestor of new functionality Material cost, quality, and timeliness Tasked by VP to cut inventory levels in half by Q4 2010 FP&A Manager Primary FP&A contact Accurately and quickly perform data collection, forecasts, and calculations Very limited knowledge of supply chain best practices and current supply chain functionality IT Manager In-house systems expert Project completed on time, within budget, and meets functionality requirements Often seems to get caught up in the “cool factor” rather than company profitability ERP sales manager Primary ERP contact point Sales volume Has identified the IT manager as a key proponent and they seem to sell in lock-step Example: Company ABC is seeking to enhance supply chain capabilities through an enhancement to their currently existing Enterprise Resource Planning (ERP) system Relationship Management Identify all key stakeholders Define the role and perspective of each key stakeholder Create relationship management plan Execute plan
- 24. 24 Appendix: Relationship Management Plan template Relationship Management Identify all key stakeholders Define the role and perspective of each key stakeholder Create relationship development plan Person Relationship Owner Relationship Goal Relationship Progression Tasks Execute plan
- 25. 25 Appendix: Task Plan template Define primary project goal(s) Create project diagram Define detailed requirements Assess current state Create project task plan to bridge the gaps Tasks can be grouped by either the endpoints or midpoints of the project diagram 1 Assigning owners creates accountability 2 A simple readout of task status helps summarize progress 3 Managing start and end dates help ensure the timely completion of critical tasks. Alternatively, some projects are better served using dependencies and durations. 4 Task Status Start Date Due Date Task 1 John Complete 11/15/2009 11/17/2009 Task 2 Stephanie Complete 11/17/2009 11/20/2009 Task 3 Karen In Progress 11/17/2009 11/30/2009 Task 4 Karen In Progress 11/18/2009 12/4/2009 Task 5 Steve Complete 11/17/2009 11/18/2009 Task 6 Steve Complete 11/18/2009 11/25/2009 WEEK ENDING 12/411/20 11/27Owner Gantt charts are often used to graphically show task expectations 5 Project Planning
- 26. 26 Appendix: Risk & Issues Log templates Project Execution Risk ID Date Entered Opened By Risk Condition & Consequence Risk Type Probability Impact Exposure Contingency (Include Triggering Event) Mitigation Mitigation Due Date Risk Owner Status Date Closed 1 2 3 4 5 6 7 8 9 10 Risk Management Issue ID Date Entered Opened By Description Resolution Severity Priority Status Assigned To Date Assigned Date Resolved 1 2 3 4 5 6 7 8 9 10 Issues Management Risk: A potential threat to the project that hasn’t yet occurred and may be prevented with proper, timely action Issue: A threat to the project that is already in motion and needs to be mitigated Basic examples of both a risk log and issues log are shown below to outline what needs to be considered to either prevent or mitigate threats to project success.