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August - 2007 - issue > Project Management

An Improved Approach to Project Management

Vimal Kumar Khanna
Thursday, August 2, 2007
Vimal Kumar Khanna
Prof. Peter Drucker has suggested the Feedback Analysis (FA) approach to discover one’s strengths. The approach suggests writing the expected results on making a decision. After some time, compare the expected and actual results. This analysis reveals your strengths. Utilize these strengths in activities and achieve good results.

Over the years, I have tried to significantly enhance the Feedback Analysis concept as applied to different management domains — Project, People, and Process Management. Let’s call this as the “Project/ People/Process Management Feedback Analysis” (PMFA) approach. The approach defines a formal procedure for making, executing,, and continuously refining decisions for management activities. The procedure applies FA at multiple stages of the activity to continuously improve the skills of managers and the quality of decisions.

The PMFA Approach
The following steps are followed in the PMFA approach for making and executing decisions:

1. Derive all Objectives
Based on the expectations the activity stakeholders identify activity Core and Subordinate Objectives. The key expectation becomes the Core Objective, which is the hard constraint that must be met by the overall-decision, like: “Complete a project within specified time and cost”.

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