TTMG 5103 Module Techniques and Tools for Managing People, Projects and Innovation ROI

1. TTMG 5103 Module Techniques and Tools for Managing People, Projects and Innovation ROI Wei Feng May 19, 2009

2. Agenda • Objectives • Stakeholder Management - Get key influencers involved and on your side • Cognitive Style - Leverage the diversity of your exploiters and explorers • Project Charter - Keep your innovation team focused and on track • Moment of Truth

3. Managerial Challenge • It’s always about people …

4. Objectives (1) • What will be learned • How to manage key stakeholders • How to interpret cognitive styles • How to develop an innovation project charter

5. Objectives (2) • What can be done with the knowledge • Identify and understand the management challenges your project may face • Avoid unnecessary conflicts and delays in the process of a project • Keep your innovation team focused and on track

6. Agenda • Objectives • Stakeholder Management - Get key influencers involved and on your side • Cognitive Style - Leverage the diversity of your exploiters and explorers • Project Charter - Keep your innovation team focused and on track • Moment of Truth

7. Stakeholder Management (1) • The definition of stakeholder “Project stakeholders are individuals and organizations that are actively involved in the project, or whose interests may be affected as a result of project execution or project completion.” -- PMBOK

8. Stakeholder Management (2) • Stakeholders include: • Project manager • Customer/user • Performing organization • Project team members • Project management team • Sponsor • Influencers • PMO

9. Stakeholder Management (3) • The influence of stakeholder – positive /negative

10. Stakeholder Management (4) • How to identify and determine key stakeholders Three techniques: • Stakeholder Diagnostic • Power and Influence Map • Leverage Matrix

11. Stakeholder Management (5) • Stakeholder Diagnostic A stakeholder diagnostic identifies key stakeholders, along with their current level of support for the project

12. Stakeholder Management (6) • Power and influence map To identify where each stakeholder lies relative to their power in the organization and influence over the project

13. Stakeholder Management (7) • Leverage matrix A leverage matrix is used to rank the level of influence stakeholders have on each other.

14. Stakeholder Management (8) • Develop plan to reduce resistance 1. Education and Communication 2. Participation and Involvement 3. Facilitation and Support 4. Negotiation and Agreement

15. Moment of truth about stakeholder management

16. Agenda • Objectives • Stakeholder Management - Get key influencers involved and on your side • Cognitive Style - Leverage the diversity of your exploiters and explorers • Project Charter - Keep your innovation team focused and on track • Moment of Truth

17. Cognitive Style (1) • Several factors affect a team’s chemistry and success with innovation: • motivation • Level • Resource • Cognitive style - Adaptor or Innovator

18. Cognitive Style (2) Innovator Adaptor

19. Cognitive Style (3) • How to examine the cognitive style of each team member • Ask the following questions: • Does this person tend to question established rules, assumptions, and structure? • Does this person become frustrated or annoyed with details? • Dose this person tend to have a steady stream of ideas without too much concern about how they’re implemented? • Kirton Adoption-Innovation (KAI) innventory Available at www.kaicentre.com

20. Moment of truth about cognitive styles

21. Agenda • Objectives • Stakeholder Management - Get key influencers involved and on your side • Cognitive Style - Leverage the diversity of your exploiters and explorers • Project Charter - Keep your innovation team focused and on track • Moment of Truth

22. Project Charter (1) • What is a project charter? • A market demand • A business need • A customer request • A technological advance • A legal requirement • A social need • A project charter is the document that is used to formally authorize a project.

23. Project Charter (2) • A template for innovation project charter

24. Project Charter (3) 1. Administrative information Project name, type of innovation, project leader, innovation champion, methodology, degree of innovation and date of completion 2. Business case To justify the allocation of time, money and energy needed to make your innovation successful.

25. Project Charter (4) 3. Job statement JTBD summarized in a specific format: verb, object, context 4. Customer 5. Unmet outcome expectations Major outcomes that not currently satisfied by existing solutions

26. Project Charter (5) 6. Competing solutions List current solutions for the JTBD 7. Key assumptions to be tested Generate a list of assumption that need to be tested 8. Expected financial impact Estimate revenue or profit monthly/quarterly/annually

27. Project Charter (6) 9. Milestones/Timeline Establish milestone or timeline by identifying key deliverables 10. Project investments budget: material, people, training, time, capital, etc 11. Team Technical skills, leadership skills, problem-solving styles (innovators/adaptors)

28. Moment of truth about project charters

29. References • David Silverstein, Philip Samuel & Neil DeCarlo, “The innovator’s toolkit:50+ Techniques for Predictable and Sustainable Organic Growth”, John Wiley & Sons, Inc., 2009 • A Guide to the Project Management Body of Knowledge, (PMBOK Guide), Third Edition, PMI, 2004