Transforming Project Management Book Summary - Transforming Project Management Book explained in key points
Listen to the Intro

Transforming Project Management summary

Duane Petersen

An Essential Paradigm for Turning Your Strategic Planning Into Action

3.9 (90 ratings)
22 mins

What is Transforming Project Management about?

Transforming Project Management (2021) sets out to address a number of problems in the world of project management. From strategic planning to scheduling and budgeting, it points in the direction of smoother and more successful projects.

Table of Contents

    Transforming Project Management
    summarized in 6 key ideas

    Audio & text in the Blinkist app
    Key idea 1 of 6

    Make sure your strategic planning focuses on the right things.

    In the world of business, you can’t get very far without a plan. Whether you’re applying for loans, making cash-flow forecasts, or just sketching out your latest ideas, making plans for the future is always an essential step.

    That’s why so many businesses engage in strategic planning – a process that involves taking stock of where the firm is right now, where it should be in the future, and what steps it needs to take in the meantime to make that happen.

    In theory, it’s vital to plan ahead like this. But in practice, strategic planning is often done wrong. Your firm might schedule regular strategic-planning meetings – but unless you’re planning in the right way, you’re wasting your time.

    The key message here is: Make sure your strategic planning focuses on the right things.

    Done properly, strategic planning has three key elements. The first consists of assessing the current environment, by weighing up the state of the firm and the world around it. One common way of doing this is by completing a SWOT analysis: a breakdown of the business’s main strengths, weaknesses, opportunities, and threats.

    Interpret these categories broadly. For example, changes in social values or government regulations can pose serious threats, which matter just as much as the dangers posed by competitors. In the same way, not all strengths are obvious – having a dedicated and loyal workforce can be as important as attracting investors.

    The second aspect of proper strategic planning is establishing a baseline. This is simple: in short, select one important figure that represents your firm’s current performance. That might be total revenue or net annual profit. It might be your firm’s error rate. What’s important is that you choose a metric that operates as a vital sign that indicates the health of the company.

    The third and final step is crucial because it sets the course for the business’s trajectory in the future: after noting your baseline, you need to set a benchmark.

    Your benchmark is your aim. If your current unit cost of production is 10 percent higher than your main competitor’s, then make matching its figure – or even beating it – your benchmark for the year.

    Once a benchmark has been set, a project manager can help break down the process of accomplishing it into several separate, manageable projects.

    Want to see all full key ideas from Transforming Project Management?

    Key ideas in Transforming Project Management

    More knowledge in less time
    Read or listen
    Read or listen
    Get the key ideas from nonfiction bestsellers in minutes, not hours.
    Find your next read
    Find your next read
    Get book lists curated by experts and personalized recommendations.
    Shortcasts New
    We’ve teamed up with podcast creators to bring you key insights from podcasts.

    About the Author

    Duane Petersen is a seasoned project manager, and the founder and CEO of UltiMentors. He’s worked extensively in China, where he recently assisted seven provincial governors and scores of bankers in implementing new project-management procedures.

    Who should read Transforming Project Management?

    • Experienced project managers looking to up their game
    • Anyone skeptical about the usefulness of project management
    • Executives eager to hire better management consultants

    Categories with Transforming Project Management

    Books like Transforming Project Management

    People ❤️ Blinkist
    Sven O.

    It's highly addictive to get core insights on personally relevant topics without repetition or triviality. Added to that the apps ability to suggest kindred interests opens up a foundation of knowledge.

    Thi Viet Quynh N.

    Great app. Good selection of book summaries you can read or listen to while commuting. Instead of scrolling through your social media news feed, this is a much better way to spend your spare time in my opinion.

    Jonathan A.

    Life changing. The concept of being able to grasp a book's main point in such a short time truly opens multiple opportunities to grow every area of your life at a faster rate.

    Renee D.

    Great app. Addicting. Perfect for wait times, morning coffee, evening before bed. Extremely well written, thorough, easy to use.

    People also liked

    Start growing with Blinkist now
    26 Million
    Downloads on all platforms
    4.7 Stars
    Average ratings on iOS and Google Play
    Of Blinkist members create a better reading habit*
    *Based on survey data from Blinkist customers
    Powerful ideas from top nonfiction

    Try Blinkist to get the key ideas from 5,500+ bestselling nonfiction titles and podcasts. Listen or read in just 15 minutes.

    Start your free trial