Are the 2010 Olympic Games and associated activities managed as programme, a multi-project environment or a portfolio of programmes and projects
Held every four years in different countries across the globe the Winter Olympic Games is a sporting event which is legendary in the tremendous level of sportsmanship and spectatorship interest it generates. An event of this magnitude which involves bringing together hundreds of thousands of people and co-ordinating various sporting activities in different venues across the city involves advanced project management capabilities and intricate project planning and execution measures.
Project management for such a complex and multifaceted project involves intricate planning, organization, monitoring and control over all aspects of the plan. It also requires a great deal of motivation and commitment from the many stakeholders involved in achieving the projects objectives safely and within the agreed cost time and performance criteria. To achieve success in effectively organizing an event of such huge proportions it is imperative that VANOC adopts the right set of tools techniques and knowledge to help it co-ordinate and implement is decisions.
One project management solution envisaged is that The Olympics be managed as a Multi-Project Environment, Portfolio. This approach which is discussed in the presentations attached tends to segregate all the various activities involved in organizing the event into different projects which will be managed simultaneously under one portfolio. Portfolio Management is a term used for collectively managing a group of projects based on certain major characteristics. The prime objective behind this process is to arrive at the optimal mix of projects in view of certain constrains to help achieve the organizations overall objective (Levine 2002)
Under this approach the various aspects of the 2010 Olympics have been divided into individual sets of programmes and projects. These individual programs can be classified into
Olympic Village
Sports Venus
IT internet and communication systems
Sea to Sky Route
Infrastructure
2010 Legacies Now
Although there is a common goal for each of the programs i.e. overall aspiration for successfully conducting the Olympics Event, the strategies and requirements for each of the above programmes can be managed more effectively through Portfolio Management. This approach tends to define two components. The first component comprises of short term individual aims and is measured in terms of timely completion of projects, budget constraints, production deadlines etc. The second component consists of Long term aims and benefits and is defined in terms of infrastructure development and social as well as economic growth
The outer layer of the portfolio will focus on the values and benefits realization generated as a result of completion of Long term goals. The Programmes will be linked together to bridge the gap between the long and short term with the short term being handled through individual projects.
The process of using Portfolio Management techniques to mange the Olympic Games has the following advantages
Prioritization A particular activity is given the correct focus and priority if it is segregated from the other activities and performed with its own agenda rather than a collective agenda. Segregation of the activity also ensures effective management and allocation of resources according to appropriate budget and time constraints
Integration Since the activities are all integrated under one banner VANOC can benefit from economies of scale by switching resources. For example one person can be used to handle related activities of all the projects. So VANAOC can employ one Finance Manager to control the budgeting of all the various activities or projects and not have to pay six different people to handle the budgeting.
Objective Alignment Handling various activities with the same objectives in mind increases the alignment between the overall strategy of the organization and the individual strategies employed to accomplish a particular project.
More control The implementation of Portfolio Management techniques will enable more control to be exercised in achieving both definitive milestones and the greater e value and benefit realisation.
Portfolio Management makes it easier to control and monitor project performance by structuring and defining processes according to both individual and general objectives it is a set of tools, techniques, and knowledge that, when applied, helps produce better results. In the case of VANOC and the Winter Olympics scenario has proved to be a very effective and viable option
2. Are the objectives of the VANOC, 2010 Legacies Now, the City of Vancouver and the residents of Vancouver in alignment
When seen from a Project Management perspective VANOC is the parent body responsible for running and co-ordinating the 2020 Winter Olympics. 2010 legacies is a project that is supervised and run by VANOC in its effort to promote social development as a result of the Olympic Games. The City of Vancouver and its residents are stakeholders who seek to benefit from the success of the Olympic Games.
If the project is to be successful it is essential that the objective of the controlling party the stakeholders and the project objectives be closely aligned with each other. Misalignment of objective will lead o overall project failure.
Let us analyse the objectives of each party as discussed in the presentation
VANOC
To promote the development of winter sport and foster competitive spirit
Effectively creating and implementing sustainability efforts in the form of structured programs
To ensure timely completion of projects within the required budget constraints
2010 Legacies NOW
Serving as a catalyst for continued development after the event ends. This involves using the event to promote the development of certain sports and recreational activities in the city for example building new parks introducing new sports etc. The development spurred by the event can also be used to help under developed communities in Vancouver. Aboriginal communities in the area can be educated to participate in the event and hence develop their literacy skills
Achieve greater financial self sufficiency beyond 2010. This will be carried out by developing a revenue generation plan to increment a consistent revenue stream
City of Vancouver
Build on its existing reputation of serving as a Pacific Gateway to Asia
Developing Long-term relationships and corporate interests with domestic companies
Seeking Investment into the Downtown Eastside of Vancouver to develop the area
Improve human capital and skills by benefiting from the number of professionals who will be bought in to develop the area and to organize the games effectively
Benefit from the high quality Infrastructure that will be build to accommodate the Olympic
Games such as the construction of Sea-to-Sky highway
Residents
To benefit from the new employment opportunities which construction an increased business activity will bring
Improvement of the quality of life in terms of new infrastructure and new housing developments that will become as a result of the Games
Greater community awareness and participation to encourage the success of the games
It can be seen that when it comes to objectives all the four organisations are aligned on several key areas, such as legacy, community development and growth. The general agendas of all the four groups match. However the specific agendas differ over individual remits and goals as each organization is structured separately and has its individual goals. A key area of non alignment of objectives is the concern over the environment several minority groups are against the games on the basis that it will affect the environment. They insist that funding should be spent on clear sustainable aims to benefit the community in directly. There must be strong cohesion between all groups project management has to be successful. This strong alignment is achievable if seeking more active communication between each group and modifying specific objective to represent a groups interest. For example VANOC objectives can be modified to include environmental protection clauses which secure that provisions be made to protect the environment while conducting the activities to sustain the successful implementation of the games.
3. Comment on the risk management practices 2010 Legacies Now should implement to ensure benefit realisation.
Currently there is a lack of a concerted risk management technique in managing the various risks involved in a project of this magnitude. To date VANOC has not developed a risk management plan and has taken only a few basic steps to mitigate risks. These include monitoring results and close involvement of stakeholders through public voting and drafting clear mission statements in order to communicate objective to various parties in the project more clearly.
Before implementing a risk management plan it is essential that VANOC identify clearly the risks to be mitigated and the benefits of managing these risks effectively
Identification of Risks
Lack of adequate funding
Miscommunication and negative alignment of objectives as a result of different processes between the key organisations -
Not gaining value for corporate partners
Unfavourable Media coverage and portrayal of how the games have been managed.
Not able to achieve objective Sustainability, values and legacy
Ineffective financial control and governance
Stakeholders not properly aware of objectives
Identification of Benefits
Will create a lasting Legacy for the city in terms of improving reputation, sporting standards literacy and recreational activity.
Inclusive nature of the games beneficial for minorities communities
New infrastructure such as Roads, highways and new housing which will be available in the form of the
Olympic Village
Sustainability of community programmes used to develop and improve communities
Development of old neighbourhoods such as the Downtown Eastside neighbourhood
More community participation as a result of increased civic pride.
Increased Tourism and business growth which will accompany the games.
To ensure future benefit realization as a consequence of risk mitigation it is recommended that VANOC implement the PRAM process which is actively propagated by the Advanced Project Management Style. (Harrison.1985). The PRAM process comprises the following essential steps
Initiate
2010 Legacies Now should shift focus on the risk process by identifying the risk in the project environment and devising a concerted risk management plan. This plan should open channels of communication between the various projects and establish a frequent internal and external reporting process.
Identify
The plan should identify existing risks and future risks as well as any unexpected budget constraints or contingencies
Assess
The plan should assess risk control measures by applying basic qualitative research procedures
Alternatively a method of Prioritisation of the risks against the value systembenefits can show how well the risk has been managed. If it has low priority it indicates a good risk management process
Plan the responses
Identify risk owners who are attributable for that particular risk
An effective plan should structure the risk among all the parties involved and create a layered risk register
Implement responses
Implement the process of holding the risk owners accountable for why a particular risk exists in the project and measure their responses in terms of Avoidance, transfer, reduce, and accept
Implementation should be at measured all levels of the project and encompass all programs and parties involved.
The risk plan should be a key document which should be available and circulated to all the teams working on the project. It should in particular focus on opening the communication channels to its stakeholders and win their allegiance if any bid to achieve any future benefit realization is possible.
Critically evaluate the answers and approaches described in presentation attached. Compare these to the OGCs approach to programme management and alternate best practices.
The OGCs approach to programme management focuses on the management of a portfolio of projects that guide organisations to achieve benefits that hold strategic importance.
In line with the above definition the Portfolio management approach described in the presentation is very similar to the approach specified by the OGC. Further the OGC specifies that the portfolio techniques be used when there is a need for the co-ordination of resources. This is very true in VANOCs project as resources are governed by budget restraints and have to be shared among projects. OGC also recommends these techniques when there are complexities involved. The VANOC project is very complex in terms of the caliber of the projects executed and the number of stakeholders involved and therefore justifies the use of these techniques.
The OGC also recommends the use of these techniques in scenarios when there is the need to the need to align long term and short term strategies. In the VANOCs scenario though the objectives are aligned on the general agenda they do face some alignment issues on the individual agendas specifically on the residents concern over the environmental impact of the development accompanying the games. Thus the use of Portfolio Management Techniques is justifiable by VANOC to encourage a more cohesive alignment in its project management strategies.
The OGC also recommends the Portfolio Management Techniques when seeking to mitigate or manage high risk. There are a number of risks that need to be managed appropriately to ensure that the VANOCs project results in success. The Portfolio Management Model could help VANOC with its risk profile by using processing such as PRAM to create an effect risk Management Plan.
To conclude, Portfolio Management Techniques are closely linked to the Program Management approach propagated by the OGC and are well suited to the project management needs of the Winter Olympic Games Project. VANOC is perfectly justified in using this approach over others in seeking to address its project management challenges
Alternative Best Practices in Project Management such as the Business Synergies Approach which focuses on adding economic value and Radical Project Management Approach (Kerzner 2004) which focuses on managing technical, market, and organizational risk do not meet the project management needs of a multi dimensional event such as the Winter Olympics as does the Portfolio Management Approach.
Held every four years in different countries across the globe the Winter Olympic Games is a sporting event which is legendary in the tremendous level of sportsmanship and spectatorship interest it generates. An event of this magnitude which involves bringing together hundreds of thousands of people and co-ordinating various sporting activities in different venues across the city involves advanced project management capabilities and intricate project planning and execution measures.
Project management for such a complex and multifaceted project involves intricate planning, organization, monitoring and control over all aspects of the plan. It also requires a great deal of motivation and commitment from the many stakeholders involved in achieving the projects objectives safely and within the agreed cost time and performance criteria. To achieve success in effectively organizing an event of such huge proportions it is imperative that VANOC adopts the right set of tools techniques and knowledge to help it co-ordinate and implement is decisions.
One project management solution envisaged is that The Olympics be managed as a Multi-Project Environment, Portfolio. This approach which is discussed in the presentations attached tends to segregate all the various activities involved in organizing the event into different projects which will be managed simultaneously under one portfolio. Portfolio Management is a term used for collectively managing a group of projects based on certain major characteristics. The prime objective behind this process is to arrive at the optimal mix of projects in view of certain constrains to help achieve the organizations overall objective (Levine 2002)
Under this approach the various aspects of the 2010 Olympics have been divided into individual sets of programmes and projects. These individual programs can be classified into
Olympic Village
Sports Venus
IT internet and communication systems
Sea to Sky Route
Infrastructure
2010 Legacies Now
Although there is a common goal for each of the programs i.e. overall aspiration for successfully conducting the Olympics Event, the strategies and requirements for each of the above programmes can be managed more effectively through Portfolio Management. This approach tends to define two components. The first component comprises of short term individual aims and is measured in terms of timely completion of projects, budget constraints, production deadlines etc. The second component consists of Long term aims and benefits and is defined in terms of infrastructure development and social as well as economic growth
The outer layer of the portfolio will focus on the values and benefits realization generated as a result of completion of Long term goals. The Programmes will be linked together to bridge the gap between the long and short term with the short term being handled through individual projects.
The process of using Portfolio Management techniques to mange the Olympic Games has the following advantages
Prioritization A particular activity is given the correct focus and priority if it is segregated from the other activities and performed with its own agenda rather than a collective agenda. Segregation of the activity also ensures effective management and allocation of resources according to appropriate budget and time constraints
Integration Since the activities are all integrated under one banner VANOC can benefit from economies of scale by switching resources. For example one person can be used to handle related activities of all the projects. So VANAOC can employ one Finance Manager to control the budgeting of all the various activities or projects and not have to pay six different people to handle the budgeting.
Objective Alignment Handling various activities with the same objectives in mind increases the alignment between the overall strategy of the organization and the individual strategies employed to accomplish a particular project.
More control The implementation of Portfolio Management techniques will enable more control to be exercised in achieving both definitive milestones and the greater e value and benefit realisation.
Portfolio Management makes it easier to control and monitor project performance by structuring and defining processes according to both individual and general objectives it is a set of tools, techniques, and knowledge that, when applied, helps produce better results. In the case of VANOC and the Winter Olympics scenario has proved to be a very effective and viable option
2. Are the objectives of the VANOC, 2010 Legacies Now, the City of Vancouver and the residents of Vancouver in alignment
When seen from a Project Management perspective VANOC is the parent body responsible for running and co-ordinating the 2020 Winter Olympics. 2010 legacies is a project that is supervised and run by VANOC in its effort to promote social development as a result of the Olympic Games. The City of Vancouver and its residents are stakeholders who seek to benefit from the success of the Olympic Games.
If the project is to be successful it is essential that the objective of the controlling party the stakeholders and the project objectives be closely aligned with each other. Misalignment of objective will lead o overall project failure.
Let us analyse the objectives of each party as discussed in the presentation
VANOC
To promote the development of winter sport and foster competitive spirit
Effectively creating and implementing sustainability efforts in the form of structured programs
To ensure timely completion of projects within the required budget constraints
2010 Legacies NOW
Serving as a catalyst for continued development after the event ends. This involves using the event to promote the development of certain sports and recreational activities in the city for example building new parks introducing new sports etc. The development spurred by the event can also be used to help under developed communities in Vancouver. Aboriginal communities in the area can be educated to participate in the event and hence develop their literacy skills
Achieve greater financial self sufficiency beyond 2010. This will be carried out by developing a revenue generation plan to increment a consistent revenue stream
City of Vancouver
Build on its existing reputation of serving as a Pacific Gateway to Asia
Developing Long-term relationships and corporate interests with domestic companies
Seeking Investment into the Downtown Eastside of Vancouver to develop the area
Improve human capital and skills by benefiting from the number of professionals who will be bought in to develop the area and to organize the games effectively
Benefit from the high quality Infrastructure that will be build to accommodate the Olympic
Games such as the construction of Sea-to-Sky highway
Residents
To benefit from the new employment opportunities which construction an increased business activity will bring
Improvement of the quality of life in terms of new infrastructure and new housing developments that will become as a result of the Games
Greater community awareness and participation to encourage the success of the games
It can be seen that when it comes to objectives all the four organisations are aligned on several key areas, such as legacy, community development and growth. The general agendas of all the four groups match. However the specific agendas differ over individual remits and goals as each organization is structured separately and has its individual goals. A key area of non alignment of objectives is the concern over the environment several minority groups are against the games on the basis that it will affect the environment. They insist that funding should be spent on clear sustainable aims to benefit the community in directly. There must be strong cohesion between all groups project management has to be successful. This strong alignment is achievable if seeking more active communication between each group and modifying specific objective to represent a groups interest. For example VANOC objectives can be modified to include environmental protection clauses which secure that provisions be made to protect the environment while conducting the activities to sustain the successful implementation of the games.
3. Comment on the risk management practices 2010 Legacies Now should implement to ensure benefit realisation.
Currently there is a lack of a concerted risk management technique in managing the various risks involved in a project of this magnitude. To date VANOC has not developed a risk management plan and has taken only a few basic steps to mitigate risks. These include monitoring results and close involvement of stakeholders through public voting and drafting clear mission statements in order to communicate objective to various parties in the project more clearly.
Before implementing a risk management plan it is essential that VANOC identify clearly the risks to be mitigated and the benefits of managing these risks effectively
Identification of Risks
Lack of adequate funding
Miscommunication and negative alignment of objectives as a result of different processes between the key organisations -
Not gaining value for corporate partners
Unfavourable Media coverage and portrayal of how the games have been managed.
Not able to achieve objective Sustainability, values and legacy
Ineffective financial control and governance
Stakeholders not properly aware of objectives
Identification of Benefits
Will create a lasting Legacy for the city in terms of improving reputation, sporting standards literacy and recreational activity.
Inclusive nature of the games beneficial for minorities communities
New infrastructure such as Roads, highways and new housing which will be available in the form of the
Olympic Village
Sustainability of community programmes used to develop and improve communities
Development of old neighbourhoods such as the Downtown Eastside neighbourhood
More community participation as a result of increased civic pride.
Increased Tourism and business growth which will accompany the games.
To ensure future benefit realization as a consequence of risk mitigation it is recommended that VANOC implement the PRAM process which is actively propagated by the Advanced Project Management Style. (Harrison.1985). The PRAM process comprises the following essential steps
Initiate
2010 Legacies Now should shift focus on the risk process by identifying the risk in the project environment and devising a concerted risk management plan. This plan should open channels of communication between the various projects and establish a frequent internal and external reporting process.
Identify
The plan should identify existing risks and future risks as well as any unexpected budget constraints or contingencies
Assess
The plan should assess risk control measures by applying basic qualitative research procedures
Alternatively a method of Prioritisation of the risks against the value systembenefits can show how well the risk has been managed. If it has low priority it indicates a good risk management process
Plan the responses
Identify risk owners who are attributable for that particular risk
An effective plan should structure the risk among all the parties involved and create a layered risk register
Implement responses
Implement the process of holding the risk owners accountable for why a particular risk exists in the project and measure their responses in terms of Avoidance, transfer, reduce, and accept
Implementation should be at measured all levels of the project and encompass all programs and parties involved.
The risk plan should be a key document which should be available and circulated to all the teams working on the project. It should in particular focus on opening the communication channels to its stakeholders and win their allegiance if any bid to achieve any future benefit realization is possible.
Critically evaluate the answers and approaches described in presentation attached. Compare these to the OGCs approach to programme management and alternate best practices.
The OGCs approach to programme management focuses on the management of a portfolio of projects that guide organisations to achieve benefits that hold strategic importance.
In line with the above definition the Portfolio management approach described in the presentation is very similar to the approach specified by the OGC. Further the OGC specifies that the portfolio techniques be used when there is a need for the co-ordination of resources. This is very true in VANOCs project as resources are governed by budget restraints and have to be shared among projects. OGC also recommends these techniques when there are complexities involved. The VANOC project is very complex in terms of the caliber of the projects executed and the number of stakeholders involved and therefore justifies the use of these techniques.
The OGC also recommends the use of these techniques in scenarios when there is the need to the need to align long term and short term strategies. In the VANOCs scenario though the objectives are aligned on the general agenda they do face some alignment issues on the individual agendas specifically on the residents concern over the environmental impact of the development accompanying the games. Thus the use of Portfolio Management Techniques is justifiable by VANOC to encourage a more cohesive alignment in its project management strategies.
The OGC also recommends the Portfolio Management Techniques when seeking to mitigate or manage high risk. There are a number of risks that need to be managed appropriately to ensure that the VANOCs project results in success. The Portfolio Management Model could help VANOC with its risk profile by using processing such as PRAM to create an effect risk Management Plan.
To conclude, Portfolio Management Techniques are closely linked to the Program Management approach propagated by the OGC and are well suited to the project management needs of the Winter Olympic Games Project. VANOC is perfectly justified in using this approach over others in seeking to address its project management challenges
Alternative Best Practices in Project Management such as the Business Synergies Approach which focuses on adding economic value and Radical Project Management Approach (Kerzner 2004) which focuses on managing technical, market, and organizational risk do not meet the project management needs of a multi dimensional event such as the Winter Olympics as does the Portfolio Management Approach.
No comments:
Post a Comment