General Electric (GE) for many years was the go-to company for competitiveness, efficiency, and innovation. General Electric’s tagline was ‘Imagination at work.’
GE more recently has had a number of troubles. GE’s profitability tanked. GE is selling many of its assets and divisions. GE was also taken off the Dow after 110 years. Continue reading
The cost of delay on technical projects averages tens of thousands of dollars per day in lost profit. Major factors involved in these delay costs are lost revenue, cost of resources and opportunity cost.
This briefing describes a recommended practice for estimating project delay costs and using those estimates for decision making. Cost of delay factors are first explained; followed by examples; then, recommendations for using the estimates to increase profits. Continue reading
This story is about risk at the enterprise program/project level. It is an example of centering your design around a high-tech solution to a problem when a low risk proven technology would have more than sufficed. Technical expertise ego got in the way of a practical low-cost approach resulting in unplanned schedule and cost growth. Continue reading
Recently, Lloyd’s of London in conjunction with the University of Cambridge Center for Risk Studies, published the results of their global risk analysis. Lloyd’s document is entitled “Lloyd’s City Risk Index: Executive Summary”. Cambridge has entitled theirs “Cambridge Global Risk Outlook 2017”. This is their second risk assessment. The first was published in 2004. Continue reading
Technical projects have complexity, risk and expense that make them more difficult than average projects. With so much at stake, it’s important to manage a portfolio of technical projects exceptionally well. Management of the resources involved must also be top-notch.
This briefing describes best practices for managing a portfolio of technical projects and managing the resource allocation for those projects. Portfolio management is first explained; followed by a process for determining business value; then, best practices for resource allocation across the portfolio. Continue reading