Time
5 hours 53 minutes
Difficulty
Intermediate
CEU/CPE
6

Video Transcription

00:00
Hey, Lou.
00:01
And welcome to
00:02
Lesson 12 part one Enterprise Project Execution and governance for Enterprise Project Management.
00:11
I'm cane, your instructor, and today we're gonna go over
00:16
some detailed specifications that have to do with
00:20
project governance during the project
00:23
planning and execution phase, but mostly woke sing on execution.
00:27
Now, the reason why I project governance is so important for enterprise projects,
00:31
Really, they're important for all projects. But
00:34
enterprise projects are so large,
00:37
so expensive,
00:39
uh, so complicated that
00:43
he really
00:45
requires a strict and formalized
00:49
project governance process really to enable the project manager to be successful. So if you want to think and
00:56
and things in terms of your own selfish interests, it's in your own selfish best interest
01:00
to have a clear structure project governance
01:04
for your enterprise project
01:07
as early as feasible in the process. So obviously, you can
01:11
do this a little bit too soon,
01:14
Um, and
01:17
kind of waste a lot of people's time,
01:19
but really, what you don't want to do is wait until the entire project planning process is done. You're out spending money doing development. Whatever the case might be before you stand up. A true project governance
01:33
So what we're gonna be covering
01:34
is the
01:38
the PFC in the E S C. The PSC stands for
01:41
Project Steering Committee, and that's usually your immediate supervisory group That's directly above the project manager. And we'll go into obviously great detail into what that PFC. Is and how to
01:57
stand one up. And then you also have an E S C, which is the executive steering committee. Now the executive Steering Committee
02:04
will not necessarily be
02:07
super involved in the weekend week out activities of the project.
02:13
But they are like the name implies, you're senior level of leadership. They're the ones that are going to be making
02:20
the bigger, riskier, more expensive decisions around the projects. And they'll usually get
02:25
some sort of recommendation from the PSC
02:30
prior to making those decisions. So you have your project manager at sort of the hub of the project team and then immediately above them You have the PSC and then merely above them. You have your E S C on then usually
02:43
well, it varies. Sometimes The E S C has the project sponsor as a member, and sometimes the E S C reports to the project sponsor. If the sponsors, for example, the CEO or or somebody, you know, real high up in the food chain.
02:58
So
02:59
we're going to discuss the role and the benefits of having a PSC versus, not the composition of the PSC. Who do you want to invite? Would you not want to invite?
03:07
Who's gonna help Was gonna hurt
03:09
once you selected the PSC. What are some of the duties that you're going to need your PSC to perform? How did they impact
03:19
the project charter process specifically with signing the project Charter, doing the change control around the Project charter and then monitoring the project? And all of these are very important within project execution because
03:35
for a myriad of different reasons. But as you can imagine, there is some sort of strength and numbers. They're certainly
03:42
collaborative strength in numbers, but there's also political strength and numbers. And what I mean by that is,
03:46
as a loan project manager, you may be a consultant. You maybe, ah, contractor that's going to work on a project and then move on to a different company.
03:58
You're in the chorus. Depending on your organizational structure,
04:01
your political power may very well. Most likely it will be fairly limited
04:08
within the organization. Not always, but usually,
04:11
um,
04:12
so when you start to think about
04:15
your project execution phase, especially for your enterprise
04:19
projects
04:21
the strength in numbers of having the appropriate size PSC
04:27
who you can then turn to for guidance and receive clear direction
04:31
creates a pretty significant amount of political power
04:36
behind the project team in
04:40
the decision that you're making may or may not be popular.
04:44
But you know, there's an old joke from the military that don't ever be the highest ranking person with the secret
04:48
kind of the same thing. You don't want to be the highest ranking person within your organization that's making all of these decisions on enterprise project.
04:59
That's really a recipe for disaster. So a PSC again, to your own selfish interests,
05:05
and I don't mean that in, like, a cynical way. I mean, that is true. It's a good thing for the organization, but to your own selfish Project man injury and, uh,
05:15
one of you,
05:15
the PSC provides you
05:18
on additional layer of accountability and helps
05:21
support the decisions that are being made about the project. That is not just
05:27
you out there. Uh, as a lone person
05:30
trying to execute this this enterprise project.
05:35
So let's talk about the role and benefits of the PSC
05:40
and really before we can dive too deep into the roles. I really want you to focus in
05:46
on this first bullet and let me admin note real quick.
05:49
Feel free to use these slides that Aaron this video or some version thereof to provide your own PSC training. I used to do that quite a bit
06:00
with some of my larger projects. Where
06:01
once we stood the PSC up, the first meeting would actually be
06:05
a PFC training whereby the project manager or the PMO or whoever the person giving the training is kind of helps people visualize what their role is gonna be on the PSC.
06:16
So that's just a quick admin note.
06:18
Um, and you can see that reference down the bottom of the slide if you want to go look for the source material. But
06:25
from a
06:26
a data point stand standpoint,
06:29
over half
06:30
of all projects
06:34
experience scope, creep or uncontrolled changes,
06:39
and the cancellation rate
06:41
of enterprise projects, which are those typically above one million,
06:46
is almost half
06:48
so from a true p. M. My purest standpoint,
06:54
you can make the somewhat pessimistic statement
06:58
that over half of projects fail in some form or fashion. I don't mean failure like everybody takes their toys and goes home,
07:03
and the company goes bankrupt breathing like that. But
07:06
if you are
07:09
project manager and you are dedicated to that iron triangle that we talked about and it says you're gonna be on time on budget and provide the things that everybody agreed on needed to be provided
07:23
over half or get over half of projects or technically failures.
07:27
Now, a lot of reasons for this And there's a list right there in front of you, which will go into more detail later on in the course.
07:33
But
07:34
part of the reason why I use this slide in the beginning is because,
07:39
or the beginning of the section I should say is that
07:42
if this were easy,
07:44
everybody would do it. If this were easy,
07:46
we wouldn't have such a dedicated academic study into project management. But the reality is, it's not easy. It's very, very difficult
07:56
to get a project quarter full, correct

Up Next

Enterprise Project Management

In this Enterprise Project Management (EPM) training course, students will learn the fundamentals of managing projects at an enterprise level, including connecting previous project management knowledge to leadership’s vision and mission for the project.

Instructed By

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Kane Tomlin
Executive Consultant at FDOT, Professor
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