State of the Industry
UltiMentorsTM arose from our deep frustration with the state of the project management industry. The industry itself is defined by its failures due to:
- Industry-defined best practices fail to provide proper procedures to establish a budget or a schedule with even a minute degree of reliability!
- Project Management Institute (PMI) defines how to build a Work-Breakdown Structure (WBS) and estimate the costs to generate a budget, mysteriously omitting:
- Costs of the Project Manager
- Costs incurred during initiating and planning the project
- Meeting costs
- Recruiting and training costs
- Most of all, the impact of non-productive and non-worked time.
- Monitoring (when done at all), is based on simplistic stoplight colors of red, yellow, and green which impart no actionable meaning. PMI’s metrics are incomplete because they only include WBS-based costs.
In short, the current state of the project management industry is that, following accepted best practices, the budgets and schedules are never reliable, always understated, and insufficient for monitoring.
UltiMentors presents a pure business approach, combined with Business Process Re-engineering and Industrial Engineering. All is included in our book, “Make Your Strategic Plans Successful through Vastly Enhanced Project Management!” to be published February 2021 by McGraw Hill.
The UltiMentors Difference
UltiMentors follows a contractual perspective of project success. You must do everything required in the contract for the time and money agreed upon in the written contract. There should be no confusion about this definition. We make that happen based upon our completely unique approach.
- UltiMentors begins by taking project management more in-depth than others. It begins by generating a budget including all costs related to performing the work. Period. We adopt a practical industrial- engineering approach encompassing non-worked and non-productive time.
- UltiMentors’ critical difference includes monitoring all costs.
- Earned value is derived from all budgeted items completed, including risk management.
- UltiMentors updates risk management including the ETV (Expected Time Value) of risk, so if there is a chance of delay which could prolong the entire project, all associated costs are included!
- UltiMentors’ staff project managers are certified in our process; the cutoff is an 80% pass on essay questions.
- Staff members are thoroughly trained in our improved processes, which include both Industrial Engineering and Business Process Re-engineering.
Powered by the Ultimate PM Power Tool, our Proprietary Software
The most accurate budgets and schedules possible are generated by our software and we monitor strategic objectives and related projects for effective vision and decision making:
This is broken into a portfolio of three projects:
- This example is of a strategic objective to increase sales volume by 50% broken into three projects with all information rolling up into your overall strategic objective. Since the performance of each project impacts the rate of return for the entire project, each is tracked.
- If a project appears to be performing badly, you can view it in several ways. For example, the variance will tell you how far over cost the project is currently projected to be, the percentage of budget spent is next to the percentage of work completed. You can clearly see the real-time benefits to your return on investment; in this case, IRR, to understand precisely how the benefit of the project changes over the life of the project.
- Other decisions should be considered based upon quality information – like adjusting the strategic objective to increasing sales volume by 46% – since the CRM only has a 4% impact on the strategic objective and now has a negative IRR and seems to be quite badly underperforming. Perhaps it’s not worth the money and should have been recommended for scrapping.
When UltiMentors manages projects, utilizing industrial engineering and business process re-engineering, we accomplish the following:
- As we drive projects, we continually update our BPR (Business Process Re-Engineering) and IE (Industrial Engineering) processes to generate our “AS IS” and “TO BE” process charts (Swim Lanes Charts) and cost out efficiency gains to generate the impact on IRR, better identifying your true benefits.
- When UltiMentors are able to increase the value and make processes more efficient, we can truly have a stronger impact on projects, by modifying IRR calculations to represent efficiencies we build in.
- UltiMentors’ proprietary software is continually upgraded to provide you with deeper insight into your project’s performance.
What We Offer
- Peerless project management / strategic planning services with appropriate budgets, schedules & monitoring
- Project managers certified in our unique, state-of-the-art techniques including Industrial Engineering and Business Process Re-engineering
- Our best-in-class weekly dashboards and assistance in interpreting them for potential decision making
- Pinnacle Project Strategist training and certification
- Coming soon – Preorders of “Make Your Strategic Plans Successful through Vastly Enhanced Project Management!” to be published February 2021 by McGraw Hill.
UltiMentors provides a far greater value than our project management competitors. You get more complete and accurate budgeting with monitoring of ALL costs presented to you every week in an easily understandable graphic designed to draw your attention to under-performing sectors, and promote better decision making.
Imagine your UltiMentors Dashboards side-by-side with red, yellow, and green lights.
The UltiMentors difference is staggering!