Instructionslocate an article that discusses project management today. This could include conflict resolution and negotiation skills, project budgeting, risk planning, project scheduling and resource

MBA 6951, Managing Complex Projects 1 Cou rse Learning Outcomes for Unit VI Upon completion of this unit, students should be able to: 2. Analyze the elements of m easures of performance in the context of the triple constraints. 2.1 Describe project management measures of performance. 6. Assess proven scheduling techniques. 6.1 Discuss scheduling techniques within the cycle of project management. 8. Outline tasks associated with closing a project. 8.1 Explain the role of a project manager and the function of project management in the completion of a project. Course/Unit Learning Outcomes Learning Activity 2.1 Unit Lesson Chapter 15: Metrics Unit VI Article Review 6.1 Unit Lesson Chapter 15: Metrics Unit VI Article Review 8.1 Unit Lesson Chapter 15: Metrics Unit VI Article Review Reading Assignment Chapter 15: Metrics Unit Lesson The concept of metrics applie s to the ability of a project manager to evaluate or measure whether a project has fulfilled its goals. This is, of course, completed at the end of the project as well as during designated milestones or checkpoints of the project. Initially, this may be vie wed as a vehicle of communication, but it is also a method to keep all stakeholders informed of the progress. The appropriate metrics must be agreed on at the beginning of the project and how they will be managed throughout the process. Financial metrics t end to be solid while project management metrics are more fluid, changing throughout the process as the stakeholders see the need. The reasons that these metrics may be modified include changes to the company’s values, the definition of success, the introd uction of new software in the industry, improvements to information technology ( IT), environmental factors , or the basic assumptions of the project. Metrics can be found in many shapes and sizes. Look at these types of metrics typically used by project ma nagers within the interactive slide below. Click here to access the interactive slide. Click here to access the transcript for the interactive slide. Key performance indicators (KPI) are an industry standard and are define d as indicators or metrics that will significantly affect the overall success of the project. These should not only be identified but also should be measured, reported, and managed in a manner that all stakeholders agree. The KPI is thought of as a key met ric to the project and an indicator of project health. The KPI should be measurable (can be quantified), UNIT VI STUDY GUIDE Understanding Metrics MBA 6951, Managing Complex Projects 2 UNIT x STUDY GUIDE Title predictive (situation can be forecasted), relevant (to the organization), and easy to collect (use of the Internet and automation). Additionally, the K PI needs to be connected to the owner or individual responsible, measurement method, and the specific target number that is looking to be achieved. Compiling all of this information along with the KPIs will provide the necessary detail and communication to the appropriate stakeholders. Again, this enables the project management to flow much more smoothly. Closely related, a leading indicator is a KPI that measures how the work you are doing now will affect the future. The SMART rule of thumb is used in a v ariety of disciplines including project management. In many disciplines , such as marketing and entrepreneurship, it enables the marketer to id entify broad -based objectives. The SMART rule applies to the project management area as it attempts to clarify and provide communication on the goals with realistic measurement strategies. Look at this model below: S = Specific , which allows for clearly defined goals M = Measurable, which means goals are measurable A = Attainable, which e nsures that the goals are actually attainable and reasonable R = Realistic , which means relevant goals are pertinent to the industry T = Timing, which means c lear timing is provided While on the outside, the SMART rule may seem obvious, it actually provides significant guidance to managers. Through the development of the project with its multifaceted schedule, milestones , and variety of moving parts, this simple rule can bring it all together , reminding the project manager of five seemingly simple rules. Think about the chaos that might ensue if a project manager compiled a project without regard to the SMART concepts. The project would have vague goals that were not measurable. Additionally, they could be unattainable and unrealistic goals that do not necessarily even align with th e industry, much less the company. Finally, there would be no timing definitions provided. Obviously, this situation would present significant challenges to the project. One of the most misunderstood industry constraints is that of the project management triple constraint. This involves the constraints that all projects operate within including price, scope/quality, and speed. In other words, projects are ideally delivered quickly with a high quality and with a low price tag. Picturing this as three inters ecting circles, the intersecting middle would be the sweet spot, which would have all three of these qualities. Thinking of this with a project management perspective, reducing costs may inevitably decrease quality and potentially overall scope of the proj ect. With respect to time, reducing the timeframe of the project can affect the overall cost and quality/scope of the project. The key to the triple constraint is to manage all three components that ultimately will lead to a successful project completion. W ith this in mind, you might conjecture that it is impossible to hit that sweet spot with all projects. Assuming this is a somewhat reasonable assumption, trade -off analysis becomes the next step. Trade -offs are always based upon the constraints within the project itself. The other consideration is that even the smallest change in any one of the three could significantly affect the other two constraints. As you can imagine, trade -off analysis is an extremely difficult concept to manage. Review the following steps that may reduce the conflict involved with this process:  recognizing and understanding the conflict,  applying the project objectives,  analyzing the changing environment,  describing the alternatives,  recommending the best alternative, and  continuous ly revising the project. MBA 6951, Managing Complex Projects 3 UNIT x STUDY GUIDE Title Another precarious situation is the exclusion of women in leadership roles. There has been much written in literature about this gender bias in general that can lead to a hostile work environm ent, professional growth limitations for women , and even business loss. Recently, another version of this has developed through what is referred to as the glass -cliff phenomenon. This refers to not only the gender bias but also women being put into leaders hip roles of failing companies (hence the analogy to a glass cliff ). This relates to the project management area as this field has been historically dominated by men —particularly in leadership roles. Fortunately, through engagement and empowerment, women i n project management leadership roles ha ve increased significantly over the last decade. Let us take a minute to discuss why managers are even interested in measuring performance. The bottom line is that what is measured is done. Measurements lead to effe ctive decision -making and truly guide people’s behavior in a positive manner. After stakeholders’ expectations are established and metrics are identified, there is a clear vision on whether success has been achieved both during the project as well as at the conclusion of the project. Additionally, these metrics provide supporting evidence for success versus no success decisions. Think of all the things in your personal world that are measured and how they subsequently have more attention paid to them —even t his class that you are taking. How would a university’s accrediting body know if it was teaching the right material to its students? How would the accrediting body be able to affix its stamp of approval (accreditation) on the university? If there were no areas of measurement or metrics, how would students know if they were reaching the overall goals and objectives of the courses? How would the university’s accrediting body know if it were teaching the right material to its students? Dashboards provide the project manager as well as the client with a visual demonstration of the progress of the project. The idea of these dashboards is to display key performance indicators within the project , either during the project by providing insight on progress or at the end to demonstrate results. If completed during the project, the idea is to provide insights on operational processes. With today’s advancements in technology, this can be more easily accomplished. A project manager could use Microsoft Excel , but other software programs such as Microso ft Project, Asana, Basecamp, Mavenlink , and Smartsheet provide specific features that will aid in the project management task. Features include d are project overview compilation in which milestones and late tasks are compiled and featured (Mizerek -Herrburg er, 2013) . As we learned earlier, the continuous compilation of costs is a necessary component of project management. These software packages tend to continuously track planned versus actual costs as well as remaining costs and percentages.

These tools pro vide project managers with tools that increase their overall efficiencies withi n the project management cycle. Scorecards , on the other hand , provide visual displays on specific performance , which are used to track progress to an identified goal. Scorecar ds work as a compilation of data , evaluating the pr ogress to the measurement goal ( Mizerek -Herrburger , 2013) . Dashboards and scorecards provide the project manager with a visual demonstration of the results. The difference between these two barometers are that dashboards review operational processes that align well Two people arguing (Hudson , n.d.) MBA 6951, Managing Complex Projects 4 UNIT x STUDY GUIDE Title with the project management theory. Scoreboards visualize the stages and progress of tactical steps within the process by looking at the progress periodically versus through on -time performance reviews. Thoughtful consideration must also be given to whether performance is measured from the mindset of operations, tactics , or strategy. Operations monitor the individual procedures, tactics measure progress, and strategy measures long -term accomplish ments. Each of these is useful in the operations of the business to different levels of managers within the organization. Contracts are the final form of communication, solidifying the agreement between the company and the project manager. The contract in cludes all details, trade -offs, and final decisions on the project. Look at five different types of contracts typically used within the industry today within the interactive file located below. Click here to access the interactive slide. Click here to access the transcript for the above file. These contracts provide widely accepted methods of assessing fees. Generally speaking, different industries are drawn to different types of fee struc tures. For instance, the construction industry tends toward time whereas the consulting industry tends toward costs, and the retailing industry tends toward performance. References Hudson, D. (n.d.). Conflict silhouette [Image]. Retrieved from http://ww w.publicdomainpictures.net/view - image.php?image=134741&picture=conflict -silhouette Mizerek -Herrburger, W . (2013). A project management perspective of the glass cliff phenomenon. ProQuest Dissertations & Theses Global: The Humanities and Social Sciences Collection . Retrieved from https://libraryresources.columbiasouthern.edu/login?auth=CAS&url=http://search.proquest.com.library resources.columbiasouthern.ehttps://libraryresources.columbiasouthern.edu/login?auth=CAS&url=du/ docview/1493901401?accountid=33337 Suggested Reading Although not required, reading the chapter below will give you some insight on trade -off analysis and how it affects project management. Chapter 16: Trade -Off Analysis in a Project Environment