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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Transforming Project Management summary
Duane Petersen
An Essential Paradigm for Turning Your Strategic Planning Into Action
22 mins
Brief summary
Transforming Project Management by Duane Petersen is a guidebook that helps project managers understand and implement agile practices. It offers advice for improving communication, collaboration, and efficiency in project teams, with a focus on delivering value to stakeholders.
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Transforming Project Management
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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.
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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.
Transforming Project Management Review
Transforming Project Management (2001) explores strategies for revolutionizing project management practices to drive success. Here's why this book is worth reading:
- Provides practical, actionable insights for transforming project management methodologies, enabling readers to achieve better outcomes.
- Using real-life case studies and industry examples, it demonstrates the real-world application and effectiveness of the suggested approaches.
- By emphasizing the importance of organizational culture and teamwork, the book challenges conventional project management thinking, resulting in a fresh perspective.
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
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Transforming Project Management FAQs
What is the main message of Transforming Project Management?
The main message of Transforming Project Management is to revolutionize the way we approach and execute projects for better outcomes.
How long does it take to read Transforming Project Management?
The reading time for Transforming Project Management varies, but it typically takes several hours. The Blinkist summary can be read in just 15 minutes.
Is Transforming Project Management a good book? Is it worth reading?
Transforming Project Management is a must-read for project managers looking to enhance their skills. It offers valuable insights and practical strategies.
Who is the author of Transforming Project Management?
The author of Transforming Project Management is Duane Petersen.
What to read after Transforming Project Management?
If you're wondering what to read next after Transforming Project Management, here are some recommendations we suggest:
- Strategic Project Management Made Simple by Terry Dean Schmidt
- The Eight Essential People Skills for Project Management by Zachary Wong
- Project Management for the Unofficial Project Manager by Kory Kogon
- Emotional Intelligence for Project Managers by Anthony Mersino
- The Scrum Fieldbook by J.J. Sutherland
- Scrum by Jeff Sutherland
- Thinking, Fast and Slow by Daniel Kahneman
- 12 Rules For Life by Jordan B. Peterson
- Leadership Is Language by David Marquet
- Leadership Two Words at a Time by Bill Treasurer