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The Value of Project Management with Ed Kless

The Value of Project Management with Ed Kless – 002

October 1, 2014 by Kirk Bowman Leave a Comment

What is the essential ingredient for a successful project? You may be surprised to learn it is having a value conversation. Ed Kless says you can be so good at having a value conversation that project management becomes irrelevant. Before a project begins, you need to ask the customer why the project is important and what success looks like.

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I believe that entrepreneurs continue the work of creation.

Episode Highlights

  • Value pricing is a methodology for pricing in which the primary, but not sole, determinant of the price is the value to the customer.
  • The most overlooked pricing question is What is the next best alternative for the customer?
  • If you suck at what you do, you should continue to bill by the hour–because you're transferring all the risk back to the customer.
  • A project is a temporary endeavor undertaken to create a unique product, service or result.
  • The Triangle of Truth is an equilateral triangle with scope as the first angle, resources as the second and time as the third.
  • Time is a constraint, not a resource.
  • All project changes should happen before the fact, not after.
  • How much is this going to cost? is the wrong question to ask. The right question is What is the value of this?
  • If you get really good at having a value conversation, you can suck at project management and still be successful.
  • If you're a project manager, you have a right to know what the value to the customer is and why it is a valuable.
  • What is the #1 mistake that people make in project management? Not understanding the value to the customer.
  • Efficiency is doing the thing right. Effectiveness is doing the right thing.
  • Time as duration is way more important than time as effort.

About Ed Kless

Ed Kless is the Senior Director of Partner Development & Strategy at Sage Software. He is a Senior Fellow at VeraSage Institute and co-host of The Soul of Enterprise podcast. He ran for the Texas State Senate in 2010.

  • EdKless.com (Blog)
  • @EdKless (Twitter)

Filed Under: Accounting, Episodes, Project Management, Software, Value Conversation, VeraSage

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