PM4K DISCUSSION 003: TOP #1 CHALLENGE FACED DURING TEMENOS T24 IMPLEMENTATION

For all of us who have managed Temenos T24 implementation projects, we know about the challenges we’ve faced during implementation. Implementation challenges are not specific to T24 only; but all projects face minor/major challenge(s). The objective of this discussion is to focus on T24 implementation projects and understand, what in your opinion is the most recurring and fatal challenge that you’ve faced during your T24 implementation? Most importantly, how did you (your team) manage to overcome it? Let’s continue Sharing & Learning.

 

[Mathew@PM4K]

HTTP://WWW.ANISHMATHAIMATHEW.BLOGSPOT.COM

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PM BASICS 007: DECUPLE CONSTRAINTS

Here’s hoping that the PM BASICS series at PM4K is helping you acquaint yourself to the basic concepts of Project Management.

In the last PM BASICS post, we discussed the evolution of a project’s Triple Constraints to what PM4K called the Sextuple Constraints. In trying to keep up pace with the advancement in the profession of project management, it is only obvious to be on the look out for more advanced ways to manage projects. Continuing with the PM BASICS series, in this post we take a step further in this direction and discuss the advancement of the Sextuple Constraints to what PM4K refers to as the Decuple Constraints of a project.

* Scope/Quality: Refer to the PM4K post titled PM BASICS 006: SEXTUPLE CONSTRAINTS

* Time/Schedule: Refer to the PM4K post titled PM BASICS 006: SEXTUPLE CONSTRAINTS

* Cost/Resource: Refer to the PM4K post titled PM BASICS 006: SEXTUPLE CONSTRAINTS

* Communication: Communication is the lifeline of a project. The ability to manage it is the most important quality that the Project Manager should have, because almost 90% of a Project Managers time in a project should go in managing communications related to the project.

* Risk Management: Any uncertain event is a Risk. These could be Negative (Threats) or Positive (Opportunities) in nature. In simple words, as a Project Manager, it is your job to constantly be on the lookout for Threats & Opportunities in order to ‘Minimize’ the Threats & ‘Maximize’ the Opportunities.   

* Leadership: The most important resource to any project is its Human Resources. Thus, the capacity to lead a team to achieve the desired end result calls for Leadership capabilities.

* Tactical Thinking: The art and skill of employing the available means to accomplish an end result keeping in mind the environment around is Tactical Thinking. This is an indispensable quality that should be used by the Project Manager to steer his/her project through the various obstacles that it is bound to face on its way to successful implementation.

Hopefully as Project Managers we realize that, gone are the days when Project Management was only about managing the Triple Constraints. We are at a stage where the profession of project management demands continuous advancement to the way how projects are managed. This is where we hope that the Decuple Constraints gets you thinking and helps you keep focused on some of the critical aspects of project management.

 

[Mathew@PM4K]

HTTP://WWW.ANISHMATHAIMATHEW.BLOGSPOT.COM

Do join our growing online communities on Blogger, Twitter, Facebook, LinkedIn & NetworkedBlogs. Most importantly, please do come back for more.