THE IMPORTANCE OF THE PROGRAM MANAGER

Similar projects are grouped into programs. Project Managers manage projects. Program Managers manage programs. The following success factors arise out of a program's culture. The Program Manager who heads the program is instrumental in developing this culture. A positive, supportive, structured culture makes projects self-regulating and success almost automatic.

These factors characterize a successful project:

1. Stability of operations that leads to a progressive improvement in operational efficiency
2. A deliberate strategy of balance between operations and new projects
3. Deliverables delivered on time and on budget
4. Clear lines of accountability
5. Clear channels of communication
6. A stable and well-understood budget process
7. A learning opportunity for the staff
8. Clear and well-understood PM and decision processes
9. Clear objectives for success
10. Happy stakeholders
11. Constant alignment with the program or portfolio

Leaders often serve as icons. The Program Manager is, in essence, an icon. As the icon, he serves as the focal point of the entire program. Others imitate or follow his behavior—both good and bad. Therefore the Program Manager must always remain cognizant that in his leadership role, he sets the PMO’s culture.

CAN THE ECONOMIC VALUE OF INFORMATION BE CALCULATED?

Contrary to popular belief, the value of information can be calculated and expressed as a dollar value! Or so says Mr. Doug Hubbard.

Credit goes to Hubbard Decision Research that published a white paper entitled “Applied Information Economics: A New Method for Quantifying IT Value.”

I’ve been reading more of this author’s works. I think he makes sense. So does Lucent, the Department of Defense, and his other clients.

This is how Mr. Doug Hubbard explains the calculation process:

1. Information reduces uncertainty.
2. Less uncertainty improves decisions.
3. Better decisions result in more effective actions.
4. Effective actions improve profit.

He concludes by stating that:

These four steps can be stated in unambiguous mathematical terms. The mathematical model for this has been around since the late 1940s.

Do you agree with the process as he explained it?