The great debate for project managers....is padding an estimate bad? In my new book, I say that padding is one of the worst things that you can do because it proves that you do not believe your own estimates!
As part of a new series of blog posts, I will be responding to questions that have been sent me in response to the book Stop Playing Games! The first question that I received was, "Padding is for known and unknown risks and events in the future. Why do you say padding is bad?"
Padding is actually not for known and unknown risks. It is actually a blanket percentage that a project manager will put on top of their estimates just to cover them from blowing their budget. It generally isn't scientific or have any thought pattern behind it other than lumping a generic percentage on top. This practice has been around for ages. We have conditioned our executives by doing this practice. They have learned that they can cut 10-20% of the budget without consequence. They are aware of the padding and are accustomed to chopping off a generic percentage. Thus, the game is played. Can you out add a generic percentage that your sponsor will cut?
This generally all occurs without too much conversation as well. This game is played and is played in silence. To combat this, there should be an honest conversation. The project manager should be honest in their estimates and use risk and risk information to plan for a true contingency. This is not padding, but a practice known as contingency planning. Once the contingency is planned and the reasons for it are documented, present that to the sponsor. When they try to remove a generic percentage, challenge them with the planned contingency and explain why it is there.
Having an honest conversation and talking about risk versus padding can lead to a true budget fostered in trust between the sponsor and project manager. That is a fantastic place to start!
For now,
Rick
Sunday, November 7, 2010
Tuesday, October 19, 2010
The Graduation Photo
As I mentioned in my last post, I have just graduated from PMI's Leadership Institute Masters Class. Here is the official photo from graduation. What a great group of people!
Within my class, we had several people from outside the United States including Chile, Brazil, Canada, Mexico, Pakistan, and Nigeria. I have been forever changed by this group of people. It makes me reflect on the entire experience yet again.
Many people have asked me about the class and what it is all about. Essentially, PMI picks 25 volunteer leaders from around the world to go through leadership training. Although each class is a bit modified from the last, we went through the SDI (Strength Deployment Inventory), a 360 degree review, and also received some top notch personal coaching. We also discussed several books and leadership methodologies. Throughout the experience, you gain tremendous insight into you. The class in the beginning is a selfish adventure, and for once it should be! As you begin to share the insights that you have learned, you begin to learn about the classmates around you. PMI makes this investment in the class with the hope that the 25 graduates then go out and motivate other great leaders to get or stay involved in PMI.
We met three times in person and several times over the phone. We first met in Orlando, FL. At the end of the first meeting, we were no longer strangers, but we had yet to become family. It wasn't until the second class in Scottsdale, AZ that I realized how much these people had gotten to me! I believe Jorge said, "It was like a Christmas party" The hugs, handshakes, and genuine fellowship the class had made the whole Scottsdale class amazing. The third class was in Washington, D.C. where we wrapped up.
After this picture was taken was a weird feeling for me. At this point, it was over. Class dismissed. All of the other times, the next meeting was planned out and we knew where we would see each other again. Once graduation was done, there were no more appointments. No more scheduled meetings. Just....done. I guess I am still processing that feeling.
We are now part of a distinct group of LIMC Alumni. We join the last 10 years of classes (roughly 300-400 people) and begin to build relationships with them. I just wish I knew, if ever, this group would ever be together again.
This picture goes on my wall in the office. It will remind me of the experience, the class, the investment PMI made in us, and of course my family.
Cheers to the LIMC 2010 Class 2. Forever in my heart!
May you find your life's passion,
Rick
Within my class, we had several people from outside the United States including Chile, Brazil, Canada, Mexico, Pakistan, and Nigeria. I have been forever changed by this group of people. It makes me reflect on the entire experience yet again.
Many people have asked me about the class and what it is all about. Essentially, PMI picks 25 volunteer leaders from around the world to go through leadership training. Although each class is a bit modified from the last, we went through the SDI (Strength Deployment Inventory), a 360 degree review, and also received some top notch personal coaching. We also discussed several books and leadership methodologies. Throughout the experience, you gain tremendous insight into you. The class in the beginning is a selfish adventure, and for once it should be! As you begin to share the insights that you have learned, you begin to learn about the classmates around you. PMI makes this investment in the class with the hope that the 25 graduates then go out and motivate other great leaders to get or stay involved in PMI.
We met three times in person and several times over the phone. We first met in Orlando, FL. At the end of the first meeting, we were no longer strangers, but we had yet to become family. It wasn't until the second class in Scottsdale, AZ that I realized how much these people had gotten to me! I believe Jorge said, "It was like a Christmas party" The hugs, handshakes, and genuine fellowship the class had made the whole Scottsdale class amazing. The third class was in Washington, D.C. where we wrapped up.
After this picture was taken was a weird feeling for me. At this point, it was over. Class dismissed. All of the other times, the next meeting was planned out and we knew where we would see each other again. Once graduation was done, there were no more appointments. No more scheduled meetings. Just....done. I guess I am still processing that feeling.
We are now part of a distinct group of LIMC Alumni. We join the last 10 years of classes (roughly 300-400 people) and begin to build relationships with them. I just wish I knew, if ever, this group would ever be together again.
This picture goes on my wall in the office. It will remind me of the experience, the class, the investment PMI made in us, and of course my family.
Cheers to the LIMC 2010 Class 2. Forever in my heart!
May you find your life's passion,
Rick
Thursday, October 14, 2010
Passion
I am just now recovering from an incredible 10 days at PMI Global World. There is only one word that comes to mind when I sum up the experience: passion.
Passion for the profession, passion for leadership, passion in interactions, passionate conversations, just plain passion. I like to say that I have a passion for the profession that is contagious. However, the passion that I felt from all of you out there was overwhelming.
This week was a culmination of many things. I had the pleasure of graduating from PMI's Leadership Institute Masters Class. I met 25 people from around the world and shared a year long journey with them that was truly life changing. We entered the class as 25 individuals, we left as a family. I was blessed to be one of the co-presenters at our graduation. The class had written down some of their reflections of the experience and I had the chance to share that with attendees of the Leadership Institute Meeting. I can't tell you how many times I fought back tears during that speech. Their comments and just being around them ignited one true feeling: passion.
After graduation, I attended the Leadership Institute which is a gathering of volunteer leaders from all over the world to discuss PMI, it's growth, our challenges, and grow in camaraderie. I heard fantastic presentations including phenomenal speakers such as Rachel Paulson and Troy Hazard to name just a couple. The amount of times I speak at events I am always a critic, but I was blown away by their messages and talent. Their delivery had one key element: passion.
As the Leadership Institute meeting ended, it was nearing the official release of Stop Playing Games. There were so many coincidences occurring on that day. My number in college was 11, the date of the release was October 11, and I was speaking in room 11, on Columbus Day which I reference in the speech and the book. It was a fantastic experience. I had the distinct pleasure of meeting many of the folks behind RMC Project Management: Rita Mulcahy's company. I was struck by their closeness as they embarked on the first major event since Rita's passing. Only one word could describe how they did their jobs: passion.
I thought that so many things would be ending this week. Another Global World is in the books, another book has been launched, and the Masters Class is complete. I took some time to reflect on the experiences. My passion for this profession has grown. My passion for the people, projects, companies, and leaders has grown. My passion to continue the path that I am on and see where this life takes me has grown.
There were several people that I had a chance to meet and others that we had a chance to develop or continue our friendships. To each of you, thank you. There are others that I had a chance to share deeper conversations and passionate commitments to do more, to each of you.......let's make sure we follow through!
For all of you reading this post, take a moment to reflect on the word passion. I personally believe it is the key to a fulfilling career and life. If you don't feel that in your heart, then it is time to find out what you really want. What is it that you are looking for? In fact, it is the new challenge. Find your life's passion. For me, I can honestly say that it is here. Being with you, sharing these experiences, and living life to the fullest. Thank you to all who contribute to this profession and those of you that went out of your way these past 10 days to help grow the passion in my heart.
May you find your life's passion,
Rick
Passion for the profession, passion for leadership, passion in interactions, passionate conversations, just plain passion. I like to say that I have a passion for the profession that is contagious. However, the passion that I felt from all of you out there was overwhelming.
This week was a culmination of many things. I had the pleasure of graduating from PMI's Leadership Institute Masters Class. I met 25 people from around the world and shared a year long journey with them that was truly life changing. We entered the class as 25 individuals, we left as a family. I was blessed to be one of the co-presenters at our graduation. The class had written down some of their reflections of the experience and I had the chance to share that with attendees of the Leadership Institute Meeting. I can't tell you how many times I fought back tears during that speech. Their comments and just being around them ignited one true feeling: passion.
After graduation, I attended the Leadership Institute which is a gathering of volunteer leaders from all over the world to discuss PMI, it's growth, our challenges, and grow in camaraderie. I heard fantastic presentations including phenomenal speakers such as Rachel Paulson and Troy Hazard to name just a couple. The amount of times I speak at events I am always a critic, but I was blown away by their messages and talent. Their delivery had one key element: passion.
As the Leadership Institute meeting ended, it was nearing the official release of Stop Playing Games. There were so many coincidences occurring on that day. My number in college was 11, the date of the release was October 11, and I was speaking in room 11, on Columbus Day which I reference in the speech and the book. It was a fantastic experience. I had the distinct pleasure of meeting many of the folks behind RMC Project Management: Rita Mulcahy's company. I was struck by their closeness as they embarked on the first major event since Rita's passing. Only one word could describe how they did their jobs: passion.
I thought that so many things would be ending this week. Another Global World is in the books, another book has been launched, and the Masters Class is complete. I took some time to reflect on the experiences. My passion for this profession has grown. My passion for the people, projects, companies, and leaders has grown. My passion to continue the path that I am on and see where this life takes me has grown.
There were several people that I had a chance to meet and others that we had a chance to develop or continue our friendships. To each of you, thank you. There are others that I had a chance to share deeper conversations and passionate commitments to do more, to each of you.......let's make sure we follow through!
For all of you reading this post, take a moment to reflect on the word passion. I personally believe it is the key to a fulfilling career and life. If you don't feel that in your heart, then it is time to find out what you really want. What is it that you are looking for? In fact, it is the new challenge. Find your life's passion. For me, I can honestly say that it is here. Being with you, sharing these experiences, and living life to the fullest. Thank you to all who contribute to this profession and those of you that went out of your way these past 10 days to help grow the passion in my heart.
May you find your life's passion,
Rick
Sunday, October 10, 2010
Book Releases October 11!
The official launch of "Stop Playing Games" is here!
I was blown away and humbled when I went to the RMC Booth tonight at the PMI Global World Congress in Washington DC. Here are some pictures:
There had been talk of some marketing pushes from RMC, but I did not expect to have an entire corner of their booth dedicated to the launch. The team at RMC have been incredible to work with. Now it is up to you! Please help support the launch of the book by either stopping by tomorrow and picking it up at the official launch, or you can go to the Project Management Bookstore to purchase your copy!
For those of you that are attending the speech at 11:15 tomorrow morning in DC, I can't wait to share this material with you. We will be posting pictures of the launch and event tomorrow as soon as we can. Lets have some fun!
Rick
I was blown away and humbled when I went to the RMC Booth tonight at the PMI Global World Congress in Washington DC. Here are some pictures:
There had been talk of some marketing pushes from RMC, but I did not expect to have an entire corner of their booth dedicated to the launch. The team at RMC have been incredible to work with. Now it is up to you! Please help support the launch of the book by either stopping by tomorrow and picking it up at the official launch, or you can go to the Project Management Bookstore to purchase your copy!
For those of you that are attending the speech at 11:15 tomorrow morning in DC, I can't wait to share this material with you. We will be posting pictures of the launch and event tomorrow as soon as we can. Lets have some fun!
Rick
Wednesday, September 29, 2010
12 Days to Launch!
I know I have promised to get back to my normal blogging, but things have been very busy and quite exciting! Since I last checked in, the book cover has gone final:
And the final preparations for the marketing and booth are being made. Check out the flyer!
It has been a blessing working with the team at RMC Project Management. It is going to be a fantastic event. In addition, I will be graduating from PMI's Leadership Institute Masters Class October 7. I will be at Global World from the 4-14th, so come find me! Let's have a blast!
Rick
It has been a blessing working with the team at RMC Project Management. It is going to be a fantastic event. In addition, I will be graduating from PMI's Leadership Institute Masters Class October 7. I will be at Global World from the 4-14th, so come find me! Let's have a blast!
Rick
Wednesday, September 1, 2010
My New Book!
October 11th, 2010 is the official launch date of my latest book: Stop Playing Games!
Here is the first public look at the cover:
The official launch will be right after my speech at PMI Global World in Washington, DC. Please come out and support the launch!
Rick
Here is the first public look at the cover:
The official launch will be right after my speech at PMI Global World in Washington, DC. Please come out and support the launch!
Rick
Sunday, August 22, 2010
The Breakthough Moment
I get asked often what it is that I do and why do I do it. Being a project manager for a living is very tough to explain. The easiest way to state it is that when companies want to improve, change, or try something new, they look to project manager's to make it happen. That is the easiest part. The harder part is trying to explain why I do what I do. It means regular travel, long hours, and often work that goes unnoticed or unappreciated. Maybe I just like to torture myself!
In reality, I love the challenge. I love being a part of the creative process and watching great minds come together to accomplish something that has never been done before. Most of all, I love the breakthrough moment. It is a rare moment that happens only once or maybe twice on a project. It is the moment that means everything is going wrong, stress is high, and failure is imminent. Then, the team comes together and finds a solution, or a "breakthrough" and the project gains momentum. Being a part of that moment is like being the star on the playing field making it happen for their team. It is like solving the great mystery or finding something sentimental to you that you thought you lost forever. It is an incredible feeling.
I remember having those feelings even when things did not go the way they were supposed to. I remember working on a project that was absolutely doomed from the start. However, the team and I were being great optimists and putting a tremendous amount of effort in to the project. While the work was being completed, it was hard, depressing, and at times demoralizing. Yet there were two distinct breakthrough moments on the project. When they occurred, the entire team grew closer. From time to time, I will hear from some of those team members and there is a bond between us that is very difficult to explain. The only thing to say is that we went to the ends of the earth and back.....together.
Did you have a breakthrough moment? If so, share!
Change is in you!
Rick
In reality, I love the challenge. I love being a part of the creative process and watching great minds come together to accomplish something that has never been done before. Most of all, I love the breakthrough moment. It is a rare moment that happens only once or maybe twice on a project. It is the moment that means everything is going wrong, stress is high, and failure is imminent. Then, the team comes together and finds a solution, or a "breakthrough" and the project gains momentum. Being a part of that moment is like being the star on the playing field making it happen for their team. It is like solving the great mystery or finding something sentimental to you that you thought you lost forever. It is an incredible feeling.
I remember having those feelings even when things did not go the way they were supposed to. I remember working on a project that was absolutely doomed from the start. However, the team and I were being great optimists and putting a tremendous amount of effort in to the project. While the work was being completed, it was hard, depressing, and at times demoralizing. Yet there were two distinct breakthrough moments on the project. When they occurred, the entire team grew closer. From time to time, I will hear from some of those team members and there is a bond between us that is very difficult to explain. The only thing to say is that we went to the ends of the earth and back.....together.
Did you have a breakthrough moment? If so, share!
Change is in you!
Rick
Subscribe to:
Posts (Atom)