Other process frameworks

PRAM, PMBOK, and RAMP are a useful representative sample of alternative RMP frameworks that the reader may wish to relate to the SHAMPU process elaborated in the rest of this book. Any other process framework of interest could be characterized in relation to these three to gain some insights about the relationships. Although some alternatives may require a quite new approach to comparison, the basic issues will be similar. Examples that may be of interest of which we are aware include...

Issue identification fit for the purpose

Figure 7.1 shows the identify phase terminating once the identification of issues is 'fit for the purpose'. It can be very difficult to decide when this point has been reached. On the first pass it should be anticipated that there will be a return to the identify phase from later phases in the RMP as insights and issues from analysis emerge. On a first pass it is appropriate to aim for a higher-level overview than is likely to be necessary in later passes, to avoid detailed analysis, which...

Manage planned actions

Operational plans for the immediate 'action horizon' require implementation in the manage phase. This is the basis of progressing the achievement of the project's objectives. Managing this aspect of the project is the basis of project management in the manage phase. Translating plans into actions is seldom entirely straightforward. Some see the key as planning detail. We see the key as insight about what might happen, as distinct from what we hope will happen, with particular reference to the...

Risk sharing and incentive contracts

Incentive contracts, often referred to as target cost or cost-plus-incentive-fee contracts, offer the possibility of sharing risk between the client and contractor and take an intermediary position between fixed price and CPFF contracts. This is potentially a more risk efficient alternative for both client and contractor. In the simplest form of incentive contract, where C the actual project cost (which is uncertain at the start of the project) E target cost b the sharing rate, 0 < b < 1 F...

Harnessing creativity and experience

The use of formal procedures to systematically capture personal experience can be very effective in identifying issues and possible responses. However, it is important that the experiences of a wide range of personnel are sought, particularly early on in the identify phase, to ensure a comprehensive set of issues are identified. Individual project managers may not have sufficient breadth of experience to provide this comprehensive view. Pooling of experience needs to include not only project...

Fixed price contracts

Common practice is for clients to aim to transfer all risk to contractors via fixed price contracts. Typically, a contract is awarded to the lowest fixed price bid in a competitive tender, on the assumption that all other things are equal, including the expertise of the tendering organizations. Competitive tendering is perceived as an efficient way of obtaining value for money, whether or not the client is relatively ignorant of the underlying project costs compared with potential contractors....