The Project Economy - Singapore
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The speaker discusses the future of project management and the emerging "Project Economy" in a disruptive world. As project managers, they are leaders who can connect with others to openly share ideas for navigating uncertainty. The Project Economy extends project management concepts into new domains like society, resilience, and globalization. Leading ethically involves understanding triggers to human values and emotions in order to make good decisions, build trust, and effectively lead teams and organizations through change and disruption.
The Project Economy - Singapore
- 1. Future of The Project Economy™ in a disruptive world. PMI Singapore Chapter July 2020 Thomas Walenta [email protected] (fearless vision)
- 2. As Project Managers You are the leaders of teams and customers into a positive future You will find some practical and some philosophical ideas in my pitch. You may ask questions at the end or in the chat. You can get the deck. It is up to you, if you want to deep dive or try out some ideas. Or read a book. You may also contact me to discuss further. In the global profession, in PMI, in the Chapter you find like-minded people with similar problems – connect and help build the PM hive Nobody knows what will be in a year (and never did) – but we all can connect today in order to openly and fairly share ideas for the next steps You are the reason I speak here today
- 3. We power The Project Economy™, strengthening society by enabling organizations and empowering people to make ideas a reality.
- 4. Project mgmt P r o j e c t E c o n o m y The Project Economy™ extends project management into the future
- 5. Project mgmt P r o j e c t E c o n o m y The Project Economy™ extends project management into the future PMI added more aspects to project management over time Program mgmt Portfolio mgmt Brightline: strategy gap PMI Educational Foundation: age 5-19 Disciplined Agile Transformation compass PMI
- 6. Project mgmt P r o j e c t E c o n o m y The Project Economy™ extends project management into the future There are even more things going on in the world, quicker and quicker Program mgmt Portfolio mgmt Brightline: strategy gap PMI Educational Foundation: age 5-19 Disciplined Agile Leadership / Team 2.0 Digitalization / AI Transformation compass Globalization (Human Hive) Agile PMI World
- 7. The Human Hive – a not so far future scenario • many individuals – 9 billion in 2030, 2020: 4 billion connected • intensified communication, between all – internet/5G, access everywhere, brain computer interface + social skills, physical distancing, real-time • common rites and behaviors – go back to human values • different roles – specialty skills, AI? • swarm intelligence • hive is more important than any individual (utilitarism) - value of community stronger than that of individual freedom >>>>>>> which may lead to • extreme diversity leads to unseen creativity • governance needs to change (role of nations?, leaders?) • leads to democratization and demonetization Term coined by Singularity University
- 8. Project mgmt P r o j e c t E c o n o m y The Project Economy™ extends project management into the future Leading to a flexible North Star, which is much more than traditional PM Program mgmt Portfolio mgmt Brightline: strategy gap PMI Educational Foundation: age 5-19 Disciplined Agile Leadership / Team 2.0 Digitalization / AI Age 5-75 Society Transformation compass Security Resilience Globalization (Human Hive) Operations to projects Roles to gig jobsAgile PMI World Hope
- 9. Yusra Mardini from Damascus, Syria Swimming Champion, 17 years old A motor dhingi designed for 6, loaded with 19 - 2015 Project: Go from Turkey to Lesbos, 25km Ø motor stopped, boat took water Ø Yusra jumped in sea, followed by 3 others Ø pulling the boat, keeping it afloat Ø after 3 hours motor started – all were saved A good person, a leader, a successful project Ø Vision Ø Action Ø Results
- 10. Ethical values describe triggers to our emotions 11 Responsibility, accountability Respect, mindfulness, tolerance, diversity Fairness, justice, equitable Honesty, truth, integrity Freedom, autonomy Community, family, relatedness Compassion, Care, Love Humility, reverence for life 8 human values found in most human cultures (Rushworth Kidder) Compassion, care, love, help PMI Code of Ethics and Professional Responsibility
- 11. Example: How fairness and reciprocity developed during evolution
- 12. Some characteristics of ethical values My ethical values – voluntarily limit my options for my action (tools can be used for ethical and unethical purposes) Culture is represented by e.g. common behaviors, rites, norms, signs, perspectives, beliefs and values Values connect people, they are commonly accepted & felt by humans Beliefs divide, they define communities, are based on transferred experience If beliefs are challenged, e.g. by disruptions of communities, values become more visible We all are part of many communities and their specific cultures: Family, Spouse, School, Job-role, Company, Profession, Hobby, Clubs, Nation, Ethnicity, Gender, Religion, Language Our identity is created in the intersection of these cultures me
- 13. 14 menti meter
- 14. What does it mean to be good person? Assume being ethical. • What can I be to make project success more probable? § How can I interact with others for this? § How can I support the team to be effective? me Behave ethical they Build trust & security we Lead effectively it Succeed with the outcome
- 15. Emotional Intelligence – a base for leadership self awareness: confidence, authenticity self control: mindfulness, resilience empathy: learning, understanding, listen organizational awareness influence: leadership, impact, conflict handling, negotiations compassion: self- motivation, flowobserve act me you Stakeholder Management
- 16. 17 Becoming a good person (based on HBR article 01/2020) Plan & prepare Make Decisions Rehearse & learn self-awareness eulogy virtues prepare scenarios: What if.. “become a good ancestor” self-control let people know get a mentor multiple perspectives resist social pressure avoid unethical people / places ask for feedback share dilemmas build resilience supportive habits stay calm obtain help
- 17. How to make good decisions? stay calm, avoid stress build EI self- control search for ethical issues decisions: avoid rationali- zations publicity test is it OK if published? mirror test what do I think about this decision maker? generalization test is this a good example for others? resist social pressure change perspectives deontology (action / duty based) follows prescribed moral principles - Codes utilitarism (consequence based) it provides highest value to most virtue ethics (Aristotle / Confucius) it shows I am a morally good person ownership = be responsible obtain help ombudsman, mentor, frameworks
- 18. Ethical decisions Ethical decision-making types (Rushworth Kidder): • Good-bad (easy – for most sane people) • Good-good (dilemma), needs balance, experience, depends on situation • shall I be honest and tell him he has a stain on his shirt or shall I respect him as he is and not embarrass him? Honesty vs. respect. • I am responsible to reduce headcount, how to be fair and respectful • Moral courage (heroic), personal consequences, leadership action • whistleblower, • not taking bribes, • standup against bullies • best: reframe the dilemma so it becomes a solution
- 19. Reframing – changing perspectives Value 1 Value 2 Value 1 Value 2 reframe Widen your window of observation, so both values belong to the same reality – because they do. Get from confrontation to conversation and creation. • be honest and respectful • be accountable and fair Design Thinking helps with reframing (here: double diamond) reframe
- 20. 21 Perspectives drive emotions drive behaviors drive change
- 21. Role of Leaders in times of Crisis (Paper by Darren Dalcher on pmworldlibrary.net) Complexity and ambiguity are only in each human’s brain, they are perceptions, not reality. The task of leaders is to mitigate complexity and ambiguity in stakeholder’s minds (or vice versa if you want to stir them up). It is done by informing, explaining, reframing, influencing (in an ethical way).
- 22. Neuroleadership – SCARF (by David Rock) a tool to improve emotional intelligence (self control and influence) Status Certainty Autonomy Relatedness Fairness 5 automatically triggered emotions (David Rock) fear lonely forced inferior unjust courage hope protected empowered respected valued equal How humans feel if emotions are triggered towards the emotion negatively vs. positively
- 23. A PRANZO CON IL NIC Fairness In order to lead and influence, we have to understand motivations that drive our reactions and try to smooth the triggers that might result in emotions Certainty Autonomy Relatedness Status As Project Managers …. You are the leaders of teams and customers into a positive future You will find some practical and some philosophical ideas in my pitch. You may ask questions at the end or in the chat. You can get the deck. It is up to you, if you want to deep dive or try out some ideas. Or read a book. You may also contact me to discuss further. In the global profession, in PMI, in the Chapter you find like-minded people with similar problems – connect and help build the PM hive Nobody knows what will be in a year (and never did) – but we all can connect today in order to openly and fairly share ideas for the next steps SCARF (David Rock) davidrock.net/ 24
- 24. Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Past Role of Leaders in the Project Economy is to create Security Business status quo balances purpose, market and assets Purpose, Strategy, Culture Market (customers, products), environment Assets (people, capabilities, knowledge) Balanced >> Security
- 25. Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Past Role of Leaders in the Project Economy is to create Security Disruption challenges market and purpose, but leaves assets Disruption Purpose? Market?? Assets! 1 understand the disruption (reality) 1 Assets are there, they continue to cost, they are maybe locations (rent), staff (if not laid off), customer data and relationships. The market changes e.g. how delivery and sales can be done and which products are sellable. So it is time to look for new/changed products, marketing strategies, new customer base. And check into the changed needs of customers. The purpose as it was stated might no longer stand as it is. Don’t be limited by it in your thinking. A new purpose will be driven by your assets.
- 26. Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Threat Crisis Opportunity Renewal Past 2 Role of Leaders in the Project Economy is to create Security Look for opportunities, grasp them quickly 1 understand the disruption (reality) 2 grasp and exploit initial opportunities perceptions Disruption Purpose? Market?? Assets! 1 Examples w/ Corona: • Restaurants offering take- aways • Chemical plants producing hand sanitizers • Zoom, Teams, Skype • Telco’s offering extra bandwidth • local delivery service • maintain relationships
- 27. Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Threat Crisis Opportunity Renewal nearterm Future Past 3 2 Role of Leaders in the Project Economy is to create Security Show a nearterm future for survival, mitigating threats 1 understand the disruption (reality) 2 grasp and exploit initial opportunities 3 show near-term future (survival) Disruption Purpose? Market?? Assets! 1 Examples w/ Corona: • Get government help • offer local ‘tourism’ • move to virtual business • lookout for new customers • re-purpose products
- 28. Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Threat Crisis Opportunity Renewal near- term Future long- term Future Past 3 2 Role of Leaders in the Project Economy is to create Security Re-establish a North Star: purpose, culture, strategy, market 1 understand the disruption (reality) 2 grasp and exploit initial opportunities 3 show near-term future (survival) 4 define a new future (new purpose?, new market?) Disruption Purpose? Market?? Assets! 1 4
- 29. Transformation Status quo Purpose (beliefs, strategy) Market (customers, products) Assets, capabilities Threat Crisis Opportunity Renewal near- term Future long- term Future Past 4 3 2 Role of Leaders in the Project Economy is to create Security Go for it! Panta Rhei (everything is in flow) 1 understand the disruption (reality) 2 grasp and exploit initial opportunities 3 show near-term future (survival) 4 define a new future (new purpose?, new market?) Disruption Purpose? Market?? Assets! 1 5 transformation to the new future (Brightline) become more resilient 5
- 30. A PRANZO CON IL NIC Becoming more resilent - six principles (Martin Reeves/Simon Levin on HBR 01/2016) Resilience is the capability to master deep change without crisis (Hamel, ‚Quest for Resilience‘) Resilience is the best preparation for disruption Structure: Modularity: autonomy, interconnected parts, known interfaces Redundancy: mutual backup/checks Heterogenity/Diversity: multiple options, different perspectives Behaviors: Prudence: mindfulness, explore and test, expect surprise Embeddedness: sensitive to context, trust & reciprocity Adaptability: flexibility, growth, sensing, feedback loops
- 31. Leadership competencies / treats Core Leadership Competencies (Bradbury/Greaves) Strategy Vision Acumen Planning Courage to lead Action Decisiveness Communication Mobilizing others Results Risk taking Results focus Agility ØVision ØAction ØResults
- 32. Leadership can be seen when you observe a shift .. From To Uncertainty Certainty Chaos Structure Fear Hope Vision Results Activism Plan Waste Discipline Hesitation Decision Narrow view Reframing Confrontation Conversation