Kam Jugdev

1
Visions 2006 Agriculture's Expanding Future
Project Management, Innovation, andSocial
Capital Connecting the Dots

• Kam Jugdev
• Kamj_at_athabascau.ca
• Athabasca University

2
Agenda
Risk
Project Management Smorgasboard
Social Capital
Research
Competitive Advantage - Innovation
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Can You Relate?
Planning vs doing
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Competitive Advantage

• Winning is about beating the competition
• Industry View vs. Resource Based View (RBV)
• RBV sources of competitive advantage stem from
  company resources/assets that are VRIO
• Valuable, Rare, Inimitable, Organizational Focus
• Organizational assets Tangible and intangible
  (knowledge-based)
• Are innovations VRIO?
• Is social capital VRIO?
• What parts of project management are VRIO?

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Competitive Advantage (VRIO) (Barney)
Valuable? Rare? Difficult to Imitate? Supported by Organization? Competitive Implications Performance
No - - Competitive Disadvantage Below Normal
Yes No - Competitive Parity Normal
Yes Yes No Temporary Competitive Advantage Above Normal
Yes Yes Yes Sustained Competitive Advantage Above Normal
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Innovation

• Implementing new ideas, products, or processes
• Product, process, organizational, marketing,
  business model innovations
• Economic development hinges on entrepreneurship
  and competitive advantage
• Entrepreneurship involves risk taking,
  innovations, and proactiveness
• Creative destruction (Schumpeter) - radical
  innovations
• Stages of innovation
• Initiation stage originality, ingenuity,
  inventiveness (elements of innovation)
• Implementation stage plan, monitor, control
  (elements of project management)

Innovative?? Us?
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Social Capital (Granovetter)

• Network of relationships and informal knowledge
  exchange
• Economic relations between people and companies
  is embedded in social capital
• Sociological superglue, social weaving
• Strength of weak ties enhances innovation
• Strong ties hamper innovation

Our social capital index?
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Organizational Knowledge

• Organizational sponge absorb and squeeze
• Knowledge iceberg
• Know-how (intangible assets)
• Know-what (tangible assets)
• Which knowledge forms are VRIO?

Explicit knowledge
War/victory stories
Tacit knowledge
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Sources of Competitive Advantage (VRIO)

• Rarely tangible assets, frequently intangible
  assets e.g. knowledge based assets
• Tangible assets
• Intangible assets
• Innovations
• Social capital (under valued)

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Crash Course in Project Management
E
A
B
C
D
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Project Management

• Project
• Temporary, unique product / service / result
• Project management
• Tools, techniques, processes, methodology

• Left brain linear, rational
• Technical
• Hard skills
• Practical, logical
• Science

• Right brain creative, artistic
• Business/social
• Soft skills
• Interpersonal
• Art

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Project Management (http//www.pmi.org)

• Project Management Institute
• PMBOK Guide - Input/Process/Output model
• 9 knowledge areas
• Project Management Journal and PM Network
• Project Management Professional (PMP)
• Continuing certification
• Over 214,858 members, over 179,214 PMPs
• Other associations and bodies of knowledge but no
  worldwide standard
• Is the Body of Knowledge VRIO?

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Project Management

• Involves good interpersonal and organizational
  skills
• The ability to plan thoroughly and trouble shoot
  effectively
• Identifying and managing stakeholders
• Stakeholders are anyone (including organizations)
  that can /- influence/impact the project

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Stage gates
Project and Product Lifecycle
Initiate Plan Execute Close
Utilization Closedown
Implementation plan
Business case
Project plan
Product
Lessons learned
Charter
Project(s)
Time
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The Juggler
PMBOK
PMP
Integration
Communications
Risk
Quality
Human Resources
Scope
Procurement
Time
Success
Stakeholders
Cost
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Priority Triangle (Time, Cost Scope) - Is that
all there is?
Scope / Quality
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Success Grid Each row each column gets one X
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Project Success or Failure (Belassi)
Escalation of commitment
Factors related to the Project Manager - Team
members
Client consultation / acceptance
Project managers performance
Factors related to the project
Factors related to the external environment
Project estimates
Factors related to the Organization
Resource availability
SUCCESS OR FAILURE
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Project Risk Management (KA)

• Risk uncertain event or condition, that if it
  happens has a /- effect on the project
• Risk management planning
• Risk identification
• Qualitative and quantitative risk analysis
• Risk response planning (avoid, accept, mitigate)
• Risk monitoring and control

Stakeholders
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Risk Management Template (H,M,K, KIS)
Risk Probability Impact Owner Response Plan Monitoring Schedule

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Phase Deliverables

• Initiation Phase
• Business case and project charter
• Planning Phase
• Project plan
• Execution Phase
• Project execution plan
• Close out Phase
• Lessons learned

Stage gates
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Some Current Research

• Project management as a source of competitive
  advantage
• Social Sciences Humanities Research Council
  (2006-2008) grant
• Social capital
• Canadian upstream oil/gas project lessons learned
• College/university project management courses and
  programs in North America
• Teaching effectiveness for online educators

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Agenda
Risk
Project Management Smorgasboard
Social Capital
Research
Competitive Advantage - Innovation
24

• Thank you
• http//wwwxt.raytheon.com/communications/whs_rules
  /
• Kam Jugdev
• [phone]
• kamj_at_athabascau.ca
• http//auspace.athabascau.ca/handle/2149/163