IIA Springfield Chapter April 18, 2013

1. IIASpringfield ChapterApril 18, 2013 Successful Time and Project Management tools for the 21st Century Auditor Presented by: Julie M. Kowalski Of Spizzerinctum Group LLC Spizzerinctum@wi.rr.com 262-993-4883

2. Effective Time Management The choice is Yours! Spizzerinctum Group 262-993-4883

3. What is Effective Time Management? Identifying what is important to YOU and giving those activities a place in your schedule! Creating days that are meaningful and rewarding to YOU! Spizzerinctum Group 262-993-4883

4. Top Time Wasters • Lack of planning, prioritizing and focus • Procrastination • Interruptions • Lack of delegation • Meetings Spizzerinctum Group 262-993-4883

5. Top Time Wasters • Crisis management, fire fighting • Telephone, email and internet • Not saying 'No' • Lack of organization and untidiness • Not enough time-off or time for yourself Spizzerinctum Group 262-993-4883

6. Top Time Wasters • Lack of tools – forcing workarounds • Too many ways to “forget” • Lack of clarity in action items / responsibilities and follow through Spizzerinctum Group 262-993-4883

7. Effective Time Management The Big Black Hole We can loose 4 hours a day to this! What is it? Spizzerinctum Group 262-993-4883

8. Effective Time Management The BIG BLACK HOLE = Needless Interruptions What are needless interruptions? "unanticipated events" Spizzerinctum Group 262-993-4883

9. Effective Time Management Interesting Statistics • On average we experience 1 interruption every 8 minutes, or approximately 6-7 per hour • In an 8 hour day that totals around 50 – 60 interruptions • The average interruption takes approximately 5 minutes • 50 interruptions / day @ 5 minutes = 250 minutes or just over 4 hours out of 8 or 50% of the workday Spizzerinctum Group 262-993-4883

10. 10 Most Common Time Management Mistakes • Failing to keep a to-do list • Not setting personal goals • Not prioritizing • Failing to manage distractions / interruptions •  Procrastination Spizzerinctum Group 262-993-4883

11. 10 Most Common Time Management Mistakes • Taking on too much • Thriving on “busy“ • Multitasking • Not taking breaks • Ineffectively scheduling tasks Spizzerinctum Group 262-993-4883

12. How Good Is Your Time Management? For each statement, check the column that best describes you. Please answer questions as you actually are (rather than how you think you should be), and don't worry if some questions seem to score in the 'wrong direction'. Spizzerinctum Group 262-993-4883

13. How Good Is Your Time Management? Spizzerinctum Group 262-993-4883

14. How Good Is Your Time Management? Spizzerinctum Group 262-993-4883

15. How Good Is Your Time Management? Spizzerinctum Group 262-993-4883

16. Types of Interruptions Total interruption: Completely occupy one’s conscious mind & disallow any thought relevant to the task (i.e.. Actively participating in phone conversation) Dominant interruption: Largely occupy the mind, leaving thought about the task to slowly develop in the back of one’s mind (i.e. recreational web browsing) Distractions: Do not stop one from consciously working on task but do draw attention away from it thus slowing the accuracy, thoroughness and speed of completion (i.e. instant messaging friends) Background activities: may not be obvious but divert some portion of one’s attention away from task. (i.e. listening to music) Spizzerinctum Group 262-993-4883

17. Skill Building Exercise Brainstorm as many interruptions you can think of then come up with realistic ways to reduce / eliminate that interruption! Spizzerinctum Group 262-993-4883

18. 3 Reasons why we don’t get done what needs to be done! • Technical issues • External realities • Psychological issues Spizzerinctum Group 262-993-4883

19. 21 Effective Time Management Tips • Ask yourself “Is what I am doing right now the best use of my time?” • Know thyself and thy time wasters and STOP • Practice not answering the phone just because it's ringing and e-mails just because they show up. Disconnect • Schedule / Block time – you have to “make time” as you will never “find time” Spizzerinctum Group 262-993-4883

20. 21 Effective Time Management Tips • Use “to do lists” – include “where” in the schedule – great apps (Put Things Off) • Eat that elephant one bite at a time - work on larger tasks for short periods of time • Create start and stop times as well as what you will accomplish in that amount of time • Plan more time than you actually think it will take Spizzerinctum Group 262-993-4883

21. 21 Effective Time Management Tips • Stop trying to multi-task and start practicing mindfulness • Challenge your own tendency to say 'yes' without scrutinizing the request - start asking and probing what's involved - find out what the real expectations and needs are • Take 2 minutes to think about better options Spizzerinctum Group 262-993-4883

22. 21 Effective Time Management Tips • Re-condition the expectations of others as to your availability and their claim on your time • Always probe deadlines to establish the true situation - people asking you to do things will often say 'now' when 'later' would be perfectly acceptable Spizzerinctum Group 262-993-4883

23. Skill Building Exercise List specific ways you will recondition others (specifically what will you say / do) Spizzerinctum Group 262-993-4883

24. 21 Effective Time Management Tips • Do not start lots of jobs at the same time - even if you can handle different tasks at the same time it's not the most efficient way of dealing with them, so don't kid yourself that this sort of multi-tasking is good - it's not • Manage your environment • Appropriately challenge anything that could be wasting time and effort, particularly habitual tasks, meetings and reports Spizzerinctum Group 262-993-4883

25. Skill Building Exercise Brainstorm as many time wasters as you can, then determine realistic ways to reduce / eliminate them! Spizzerinctum Group 262-993-4883

26. 21 Effective Time Management Tips • Have a regular place for things and put them back when you’re done with them • Use a calendar and write down everything you need to do and when you need to do it – on the same calendar • Relearn how to focus • Stop procrastinating • Build coping skills to deal with challenges Spizzerinctum Group 262-993-4883

27. Sample Calendar Spizzerinctum Group 262-993-4883

28. Sample To Do list To Do’sWhere in Schedule Buy Milk Saturday morning - Errand time Get together with Jane Friday night - Friendship time Register for conference Thursday afternoon - Planning time Clean pantry Sunday afternoon - Project time Make dentist appt. Any lunch hour – Self time Update resume Thursday evening – Writing time Spizzerinctum Group 262-993-4883

29. The Time Trap We can go with the flow of human nature; after all, if it’s natural, it must be right. OR We can take a hard, unflinching look squarely into the face of time to see what practical efforts our time habits have on our jobs and our lives. And we can decide if we want to make some changes by confirming the powerful pull of human nature. Spizzerinctum Group 262-993-4883

30. 5 Beliefs that Hinder our organizational skills • I have to keep everything • There is just too much information and interruptions to be organized • Getting and staying organized takes too much time • I am too undisciplined to be organized • I am not organized by nature Spizzerinctum Group 262-993-4883

31. Keys to being organized Source: Project Simplify Spizzerinctum Group 262-993-4883

32. Tips to Keep Your Life Organized • 3 most important tasks rule • An easy & workable task list/to do list • Choose one tool and stick with it • Do one thing at a time • Do it now • Make use of the word no • Use the recycling bin/trash basket • Put it away now • Unapologetically take control of your time and priorities Organization is a journey, not a destination Spizzerinctum Group 262-993-4883

33. Work smart or hard! A man was hired to paint the stripes down the middle of Main Street. The boss issued him a can of paint and a paintbrush and checked up on him after an hour and he noticed he was making reasonable progress. When the boss visited him at lunchtime, he saw that progress had slowed dramatically. At the end of the day, the boss counted only two new stripes since lunchtime and called his new worker to account for the lack of results. The worker said, "Well, just look how far I am from my paint can!" Spizzerinctum Group 262-993-4883

34. Skill Building Exercise Think about your life and then answer the questions below. Spizzerinctum Group 262-993-4883

35. What is Project Management? Project Management is the discipline of: • planning • organizing • directing • managing / controlling company resources to bring about the successful completion of specific project goals / objectives Spizzerinctum Group 262-993-4883

36. Project Management What is a deliverable? • A deliverable is the end result of an action or set of actions • Deliverables are verifiable • Could be a report, a document, a service (server upgrade), or a product • Differs from a milestone in that a milestone is a measure of progress toward an outcome, and the deliverable is the outcome Spizzerinctum Group 262-993-4883

37. Project Management What is Project Scope? • The work that needs to be accomplished to deliver a product, service, or result with the specified features and functions. What is Scope Creep? • Scope Creep is a term which refers to the incremental expansion of the initial scope of a project. How do we avoid Scope Creep? Spizzerinctum Group 262-993-4883

38. Project Management Tracking the Project How do you monitor & compare actual results to planned? How do you manage, document and communicate changes? Spizzerinctum Group 262-993-4883

39. Project Management Common Mistakes of Project Management • Not using % complete to measure progress • Not conducting mid point check ins • Not identifying the critical path • Using Project Management Software to only create a “laundry list” of tasks • Allowing “scope creep” • Not having the “right” resources • Not preparing for project meetings • Not accounting for “Murphy’s Law” • Lack of communication • Short changing the amount of time a task / change takes • Ignoring problems, “hoping” they will go away Spizzerinctum Group 262-993-4883

40. Skill Building Exercise Define and then brainstorm solution to the top project management obstacles Auditors typically encounter Spizzerinctum Group 262-993-4883

41. Project Management Pre-Meeting Preparation • Define roles for each meeting: Meeting Manager: Manages administration and results • Provides facilitation & leadership • Develops team and individual meeting goals • Sets the tone • Clarifies the purpose of the meeting • Point of contact • Retains team records • Drives content • Assigns tasks • Promotes robust participation & maintains order and pace • Ensures feedback is provided not meaningless praise / criticism • Gains buy-in • Ensures people are eager to attend and to express themselves • Ensures team holds people accountable Spizzerinctum Group 262-993-4883

42. Project Management Pre-Meeting Preparation • Define roles for each meeting: - Continued Scribe: Tracks and publishes records • Helps create agendas • Distributes notes / records • Keeps a list of action items / thoughts that need further exploration (Parking lot) Timekeeper: Ensures meeting stays on track • Help the meeting run on schedule by timing each of the participants according to the timings given on the agenda. • Allows someone other than the manager to be the “heavy” Spizzerinctum Group 262-993-4883

43. Project Management Pre-Meeting Preparation • Create and publish an agenda Sample meeting agenda Date:Time Keeper: Colleen Scribe: Kim Purpose / Objective(s): Location: Attendees: Spizzerinctum Group 262-993-4883

44. Project Management Sample Rules of Conduct / Rules of Engagement • Email • Reply to all emails within 24 hours (at least acknowledge receipt of and let the person know when you will get back to them with the answers) • Use spell check and upper & lower case letters • Delete non pertinent message strings when forwarding • If the email is to several people identify what action each person is to take • Meetings • Respond to all meeting requests within X hours • Show up 1-2 minutes early for all meetings • Be open to other associate’s ideas – don’t discount them, seek first to understand • Share your ideas – remember silence is the same as buy in • Don’t be afraid to disagree, but focus on solutions not individuals • Hold all Team members accountable – if they don’t follow protocol, gently remind them • Buy-in to the ultimate decision / approach and fully support it in your actions and words • Interacting with Fellow Associates • Always offer help and support - don’t merely “dump” problems into someone else’s lap • Clearly communicate expectations and consequences of non action • Pass on all pertinent information as soon as it is available • Housekeeping • Silence all cell phones when in meetings Spizzerinctum Group 262-993-4883

45. Project Management Tools Brainstorming:Purpose is to generate a list of ideas • Do not comment on any idea – merely write it down • Use round robin method if you are having problems getting people to speak up • Prevent criticism or judgment • Encourage “coat tailing” Quick vote: Purpose is to quickly gain group consensus • Give X number of votes to each member • Can not use more than X number of votes on any one item • If there is a narrow point spread, change the X and vote again • At the end ask each person to verbalize their “buy-in” Spizzerinctum Group 262-993-4883

46. Project Management Tools Parking lot:A repository for important information or questions generated which need to be addressed but not necessarily at that moment. • Scribe is responsible for faithfully and accurately capturing all parking lot issues – be sure to include enough detail so that anyone reading them will know exactly what thought / question was being raised • Get team buy-in that the thought / question is indeed a parking lot issue • Periodically review the parking lot list with the team to determine timeliness of any of the captured items / to assign resolution Spizzerinctum Group 262-993-4883

47. Project Management Risk Management What is risk? Risk is the possibility that you may not achieve your product, schedule, or resource targets because something unexpected occurs or something planned doesn’t occur. What is Risk Management? The process of identifying possible risks, assessing their potential effect, and then developing and implementing plans for minimizing those negative effects. Risk management can’t eliminate risks, but it offers the best chance for successfully accomplishing your project despite the uncertainties of a changing environment. Spizzerinctum Group 262-993-4883

48. Project Management Possible Risk Factors • Insufficient time on one or more phases • Key information not in writing • Move to a subsequent phase without completing one or more of the earlier phases • Some background information and plans not in writing • No formal cost-benefit analysis • Missing parts to the plan • All or some aspects of plan not approved by all key audiences • Plan not reviewed or questioned by team members who didn’t participate in its development • No team procedures to resolve conflicts, reach decisions, or maintain communication • Inconsistent project-progress reporting • Reassignment of one or more key project-supporters • Replacement of team members • Change of marketplace characteristics or demands • Changes handled informally, with no consistent analysis of their effect on the overall project • Workers assigned to new projects before completion of this project Spizzerinctum Group 262-993-4883

49. Project Management Task Lists Key data required includes: • Task description • More detailed task description when necessary • Owner • Due date • Current status Spizzerinctum Group 262-993-4883

50. Project Management Project Communications Best practices Spizzerinctum Group 262-993-4883