21st Century Project Management

20th century project management manages projects separate from the business

You likely know 20th century project management concepts and have used various project management methods and systems. You encountered many problems with the 20th century project management you used, such as:

  • The project had to be managed as an endeavor separate from the business
  • The project implemented investments in new capital, but there is no way to plan the investment as specific capital solutions and to plan and measure the return on the investment in each performance solution
  • The project developed capital to be utilized by the business, but there is no way to plan the capital solutions needed by the business and to focus the project on specific capital to be developed as performance solutions
  • The project therefore concentrated on implementing physical capital assets or a particular asset that could be identified, such as a business process, information system, or training program
  • The project developed both tangible assets and also intangible assets in order to manage, support, and utilize the tangible asset properly, but there is no way to plan, develop, and manage intangible assets
  • The project management method manages performance in activities and tasks, but does not manage the specific results produced from the project that must be implemented and accepted by the customer
  • Capital in funds budgeted, people and facilities assigned, contracted support, etc must be utilized to execute the project, but there is no good method to manage the project capital to develop and implement project results and to cost project performance in the utilization of the capital to produce a project result
  • The project must implement the main physical and project objective assets as solutions as well as performance solutions needed to operate, manage, and support the main solutions; but there is no way to implement all the solutions as managed capital to incur costs and to add value to business results
  • Each performance solution implemented must be utilized to produce business results to return the investment, but there is no way to measure the value added to the business results to measure the return
  • Development costs for each implemented solution should be amortized over the useful life against the benefit provided, but the results that increase in value are not known, so costs cannot be amortized properly
  • Project costs may be captured for a known asset and depreciated against a center or activity, but this does not relate to the decrease in asset worth or the value added to the business
  • All capital implemented has a worth that must be known to know enterprise and business worth, but most capital assets and the costs that contribute to worth are not recorded as part of the business
These problems are fundamental in 20th century management methods used to manage all businesses and all capital development projects today. The only possible solution to eliminate these problems is to use Result-performance Management (R-pM) to organize the actual business for 21st Century Management.

21st Century Project Management manages the project as a business

Result-performance Management organizes any operational  or project business for 21st Century Management. The business is defined as “the utilization of capital of worth in performance to incur costs and produce value in results”. Every business, including every project, consists of three components that are structured to have capital available to be utilized in performance to produce results.

  • Results: Specific economic outputs of value that must be produced for business or project success
  • Capital: Investments in specific performance solutions that are required to produce business results or are assigned to produce project results
  • Performance: Specific solutions deployed with rules and expectations and utilized to produce a specific business or project result

Results are the inputs to and the outputs from performance. Results are specific accomplishments, like product item produced, learning course completed, solution implemented, etc that can be counted and measured. Capital covers all investments, acquisitions, and developments that provide the capability to produce results. Capital is organized as specific performance solutions that can be professionally supported and utilized to produce results. Performance solutions like project manager, budgeted cash supply, contracted service, and offices and equipment are utilized to produce the "solution implemented" project result. Performance utilizes specific performance solutions to incur costs and to create value in specific results. The operational or project business is organized when results to be produced are identified, capital to be utilized is organized as specific solutions, solutions are deployed to produce specific results, and performance records are established to record costs, volumes, etc against result goals and performance expectations. Business transactions record the costs, effectiveness, capacity of performance solutions to produce value, quality, and volume of results. The business structure is updated with every business transaction and result and performance solution change.

Result-performance Development manages both business and project results, capital, and performance

In order to manage projects properly both the results, capital, and performance to be improved in the business and the results, capital, and performance used in the  project must be managed. R-pM manages projects as a business using Result-performance Development to develop business results and capital needed, and to manage the capital utilized in performance to produce project results. Result-performance Development is explained in the download report "How to Manage Projects in the 21st Century".

The report explains how to analyze the business area to define the results to be improved, the specific capital to be developed to add value to results to justify the investment, and the specific results to be produced in the project. The report explains how to manage the project as a business to utilize capital properly to produce project results and to capture development costs against the result. The report explains how to develop and implement the range of performance solutions needed to produce specific business results and support the solutions implemented, and how to measure the added result value added for the return on each solution investment.

Result-performance Development is the future of investment analysis and capital development project management.

20th century management is a dead-end that cannot organize and manage the business properly and cannot manage capital development projects as part of the business.  The future is in Result-performance Management to organize the business for 21st Century Management, and in Result-performance Development to analyze and plan capital investments for measured return and to organizes project for 21st Century Project Management. Order your copy of "How to Manage Projects in the 21st Century" today through the Download page.