“Doing something the wrong way a hundred times doesn’t make one an expert.”
WRONG WAY: Find someone with lots of experience managing similar projects. PMs typically repeat the same mistakes from one project to another.
RIGHT WAY: Ask them the following questions:
- How do you determine the budget? The answer should include creation of a WBS (Work Breakdown Structure), adding that to the EMV (Expected Monetary Value of risk – or risk reserve) plus initiation and planning costs, plus multiplying the number of weeks in the critical path by the weekly project management classes, team training costs, recruitment costs and procurement Capacity planning should be examined to determine the effect of non productive time, holidays and time off.
- How do you determine the schedule? This answer should include the WBS as adjusted by capacity planning plus determination of the critical path from the network diagram. This number should be adjusted by the ETV (Expected Time Value) of risk.
- How do you monitor and report status? Metrics should be discussed – such as the CPI (Cost Performance Index), SPI (Schedule Performance Index), ETC (Estimate to Complete), EAC (Estimate at Completion) and BV (Budget Variance. If they simply use red, green or yellow colors – they have no clue as to how the project is performing.
An expert manages projects CORRECTLY – as opposed to repeating the same mistakes.