09. Mastering Project Management-Key Takeaways from PMI Global Summit

Join host Brittany Wilkins in this episode of Project Management Masterclass as she shares key insights and lessons learned from attending the PMI Global Summit. Discover how AI is reshaping project management, with highlights on tools like PMI Infinity 2.0 and practical applications of ChatGPT in Earned Value Management. We’ll delve into building a value-driven, customer-centric PMO and explore essential distinctions between work and portfolio management. Tune in for takeaways that will inspire and guide you in enhancing your project management approach and staying ahead in the evolving landscape.

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Welcome to Project Management Masterclass hosted by Brittany Wilkins. Whether you're a seasoned project manager looking to sharpen your skills or a newcomer eager to learn the ropes, this podcast is your ultimate guide to mastering the art and science of project management.  In each episode, we dive deep into the world of project management, bringing you insights, practical tips, and real-life success stories. Get ready to elevate your project management game.

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Transcript

Project Management Masterclass has amassed a worldwide wide listening audience. From Chicago, Los Angeles, Atlanta, North Carolina, Minneapolis, Toronto Canada, United Kingdom, Germany, South Africa, Singapore thank you for tuning into the show, I appreciate you listening. 

I am empowered as a life long learner to continue to find ways to grow and evolve as a project management professional. Whether it be from books, webinars, podcasts, on the job experience. A couple months ago I had the opportunity to attend the PMI Global Summit. What an experience talk about information overload I am digesting and strategizing how to incorporate the things I've learned. Today show I wanted to share some of my key takeaways, learning, and insights from AI, to building a customer centric PMO, and work management tool lessons learned. 

Emergence of AI:

From the opening keynote, sessions, tech talks, and demos artificial intelligence AI as a focal point of discussion. As it should have been as it has changed the way we work and live. With its emergence we must answer the question how does AI compliment and assist in the work that we do a project management professionals.  For me I utilized AI as my copy editor assistant. In managing a series of projects under one umbrella, I have to send out a lot of communication updates to stakeholders. When my emotional intelligence is low, AI helps me to soften the message I need to get across when dealing with difficult situations. AI has served as my secondary note takers. It's increased my efficiency in the time in takes for me to recap meeting and send out minutes of the meeting. AI has helped me to develop scorecard criteria for how to measure critical KPI's on my program dashboard. 

Beyond these basics, AI is so much more powerful for project/and or program managers. During the PMI Global Summit CEO announced PMI Infinity 2.0. An AI powered project management coach that serves to deepen a project/and or program managers expertise, helping them to master complex topics which will enable one to achieve project success. Since learning about this at the Summit, I've been experimenting with the tool. PMI Infinity has the look and feel of ChatGPT User face.  Featured within the tool are chat, prompt library with featured prompts like requirements traceability matrix, daily stand up agenda, change management communication. I've been scenario planning how to descope a modularization program I am leading, so I tested out using seeing if it would spark any new ideas that I've not yet considered. Additionally I explored the tool capabilities of the project charter document generator by inputting a dummy project and seeing how it would spit out. Risk management and stakeholder communication plan are still underdevelopment. The tool has potential I am bit cautious with it though as its an external tool to my organization, so very cautious and intentional  in not putting company data in the system, but only generic information to see its capabilities. 

As a follow up to the announcement of PMI Infinity tool, PMI has also released a guide entitled AI essentials for project professional. Which I think its great to often we dive into new tools or things without the foundational knowledge of how its intended to work.  Want to maximize your productivity as an project/and or program manager brainstorm how to leverage AI. One key point that I want to is AI is here to assist you with the job, not here to do your job as project/program manager. No matter how AI continues to evolve one must still know the fundamentals, principles and processes of project management.

One session I sat in on was applying AI and Earned Value to manage your portfolio. Objective of the session was to utilize earned value management to assess program and portfolio performance. Applying AI to forecast to forecast outcomes and trends. Session started off with the speaker discussing earned value. What I learned new in this session was the concept of a sunburst diagram. It's a data visualization tool that is utilized to display hierarchical data in project management. How it works using concentric circles to represent hierarchical data, with each representing a level in the hierarchical. In Dr. Bower presentation he was depicting sunburst diagram showing the connection of portfolios, programs, projects, and subprojects showing how its possible to color segment to indicate earned value status. Very interesting as I never see portfolio, program, and projects illustrated in that type of way. Definitely on my to do list to explore the value of this further. 

The professor then transitioned into an advanced way of utilizing ChatGPT to calculate EVM. Where he reinforced the point I stated earlier needing to have a fundamental understanding of PM in this case EVM and how to utilize within AI to yield the best results. As the original prompt did not give him the expected resulted. He had to prompt GPT a few times  and change the settings. It was good demo of fundamental project management concept with the application of AI. Some of the key takeways from the session were GEN AI is best suited to analyze large amounts of data. Gen AI can use EVM to analyze a project tracking progress and creating charts. Gen AI has the potential to generate CPI and SPI to depict trends.  

Its great to have tools to leverage in measuring project success, but oftentimes I"ve found that it still leaves people asking the question what to do with the data. Organizations have different ways in measuring project success other than EVM. PMO's within a company may set the standard on how to. 

It's been my mission in playing a role to advance PMO"s to be more structured and robust to deliver what matters most. That is value to both the internal and external customer we serve. At the Summit I attended Building A Value Driven Customer Centric PMO. But how do we do that?

I believe it start with the foundation of the organization which include organizational strategy, structure, industry profile, company culture, and maturity of the organization.  Within that foundation you have PMO structural components like PMO Mandate which can be defined The PMO mandate is the formalized purpose and scope of the PMO’s existence, outlining its key objectives, responsibilities, and the specific value it is expected to deliver within an organization. PMO strategy refers to the roadmap and action plan that guides the PMO in achieving its mandate. PMO Governance the structure of oversight, policies, and decision making processes that guide PMO operations.  You start to build customer centric PMO through customer experience cycle of exploration, design, deployment, enhancement, and realization. To do this there are 10 steps 

1. Awareness building-Introduction of who we are
2. Needs Assessment-Seek to understand rather than to be understood.
3. Value proposition-Purpose service offerings
4. Service deployment-Building a roadmap of what is being offered
5. Service onboarding-Identify resources it will take to execute
6. Service Operations-Executing the work
7. Service performance-Develop metrics
8. Maturation-Perform a maturity assessment
9. Value delivery-continuous improvement
10. Recognition-celebrate the journey

The speaker of the session left the audience with a great quote "The Value of a PMO is not a destination but a continuous journey of evolution and transformation.

Last takeaway and insight I learned from the expo which showcased some really great vendor is tech talks is knowing the difference between work management vs. portfolio management. Work management in PM is mechanism of tasks. Portfolio management gives visibility of how work is being executed how it rolls up to strategic objective.  These two distinctions are important because depending on the maturity of your organization you can be sold something you really don’t need.  Tool are here to help makes are lives much easier, but we must know how and why.  You go the expo wee this shiny bright too. They lure you in with demos, free trials, they assess your needs, persuade you they can solve your problem Contract gets signed tool is out  and chaos erupts from there. Been down this path before so I tried not to get to caught up expo and need to acquire something new. It does take defining what a good work management system looks like for you as PM. Always good to stay on top of the latest trends, tools, and system just be aware of the pitfalls without due diligence. 

Overall PMI summit was a great experience. I look forward to continue to put into practice what I learned. Hope you will continue on the journey with me. Thank you for tuning into project management masterclass.