I am back with my thoughts on another topic of relevance today, after some time going through making the DNA of my new venture, ‘ProPMO Services’, performing volunteer role at PMI and other engagements!
When I looked around some of the disruptions started arriving about couple of years back in transport sector, some of the incumbent operators in radio taxis were still looking at the disruptions arriving and took no action at all in transforming their businesses. So, the implications were imminent with their business getting wiped out from retail segment!
There were operator unions who even took the route of confrontation with the disruptor’s of the business game, and did not get any favourable results from their patrons in political circles. The reason was that the customers of the outcome of disruption in the business got immensely benefited from the paradigm shift happened in the way services offered or products worked for them.
The will of the market forces prevailed!
Suddenly, someone realised that the technology needed for the paradigm shift in products and services are available and the customers are willing to embrace the big change, so the process of disruption started.
Similar to lightning and thunder bolt phenomenon, businesses must always be alert to the signal of disruptions arriving and be prepared to deal with the disruptions!
They could have also either lead the disruption into the businesses or followed the disruption and strategically took appropriate actions that could have helped them to sail their boats through the winds of turbulence!
So, in the age of disruptions one has clearly a choice of selecting the path of being leader, followers, Observers or confronters. Otherwise anyone knows what are the implications to the business sustenance!
When we talk about how businesses must deal with disruptions, there is a need to have really good business strategy based on what path the business would take and then how they will organise themselves into focused business units and then how they will ensure, the current business is protected/sustained, prepare for the immediate next for making a paradigm shift to their products/services, institutionalise the invention culture and create definite leeds for future of the products/services evolution.
This essentially doing the business transformation!
One must keep in mind that the existing running products/Services are very much in operational mode of running the business and optimum resources are allocated to ensure the fuelling of the business continues. However, the allocation of the most premium resources, of senior management time and adoption of the best possible tools and techniques/methods to ensure that the next major change to the products/services are achieved at a phenomenal speed and help the company to remain leader of disruption or continue to remain relevant in the business.
When we talk about leading/following the disruptions, we are essentially bringing huge changes to the products or services. That means, we must apply all best practises to ensure that the focus remains on achieving the strategic objectives of dealing with the disruption and not on how to establish the effectiveness of processes and efficiency of Systems.
It’s a writing on the wall that unless you have set your house in order with adoption of right processes and systems to deal with disruptions, the business is headed towards extinction from the map!
Yes! We are talking about adopting of the project management best practises advocated by PMI through PMBOK and other standards, hiring of right PM talent who are certified by PMI as PMP / PgMP/ PfMP, adoptions of appropriate project management tools and complementary tools.
While there are people minding project/programs, you need people who mind these minders and bridge the gap between them and the senior management for ensuring the continuity of strategic alignment top down manner. So, In the case of large programs, multiple programs in multiple business units, there is a very urgent need to implement PMO (program/project management office) and appropriate EPM tool.
I often observe that people are really wanting to do great job in designing/development of products or services but they at the same time procrastinate the adoption of tools and techniques in project management that are the only route for their sure shot success on goals for products/services.
This should not be brainier at all!
In the race to be the first to be there in the market with next generation products and services, it’s imperative to adopt project management best practises. So, the emphasis must be on making project management aligned to strategic needs of the business and its presence will make the overall effort to achieve the goals much easier and predictable!
The time has come to look at the PM processes and tools as catalysts to achieve the strategic goals rather than thinking that they may be white elephants.
It matters on how these practises are adopted for leveraging them as catalysts. Companies must invest money and resources for laying really strong foundation for the Project/Program/Portfolio Management practises and they no more become a discussion points of relevance but catalysts for business success!
I will come back with more thoughts around this subject soon!
I wish all of you very happy new year 2018 and success in your journey through disrupted business world!
Rajarama Rao Bannengala, PMP®
President and CEO at PMI Pune-Deccan India Chapter
Founder and CEO ProPMO Services
EVP Products at Global Artisans Pvt. Ltd.
Master Consultant at 10Xofy