Project Management was a presentation delivered by Equinox CEO and Director for Economics Services, Bernard Mallia. It was based on Bernard’s experiences as a project manager and a project management academic, and contrasted the academic with the empirical experience.
The presentation addressed various themes in relation to crisis management and its avoidance. It started off by outlining the Project Lifecycle as set out in the PMBOK, including the phases of Initiating, Planning, Executing, Monitoring and Controlling and Closing of projects and then went on to explain why Crisis Management is not ideal.
It then looked into the most common factors underpinning crises, namely scope creep, disagreements, lack of planning & surprises, lack of communication, dependence on other people / processes, approval procrastination, focus on tasks rather than on project, abrupt reprioritisation, situations where everything becomes a priority, staff shortages, unavailability of required skills and too many simultaneously on-going projects.
The presentation also delved into the need for planning & monitoring, the generally-applicable risk categories in project management, namely systemic risk, force majeure events, hazard risks, liability torts, property damage, natural catastrophes, financial risks, pricing risks, asset risks, currency risks, liquidity risks, operational risks, customer satisfaction risks, product failure risks, integrity and interoperability risks, reputational risks, strategic risks, competition risks, social trend risks, and capital availability risks.
Lastly, the presentation concluded by looking into the budgeting function.
The presentation was delivered by invitation at the Malta Management Expo 2012 and addressed, among other things, the link between Delegation, performance management and reward systems, empowerment vs micromanagement, focus vs oversight, the cost of performance measurement, and performance measurement with standardised and non-standardised outputs.