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									Visions 2006: Agriculture's
     Expanding Future

   Project Management,
      Innovation, and
 Social Capital: Connecting
          the Dots
               Kam Jugdev
May 2006   Athabasca University   1

May 2006   2
Can You Relate?

May 2006          3
    Competitive Advantage
n    Winning is about beating the competition
      n   Industry View vs. Resource Based View (RBV)
      n   RBV sources of competitive advantage stem from
          company resources/assets that are VRIO
           n   Valuable, Rare, Inimitable, Organizational Focus
      n   Organizational assets: Tangible and intangible
           n   Are innovations VRIO?
           n   Is social capital VRIO?
           n   What parts of project management are VRIO?

    May 2006                                                      4
        Competitive Advantage (VRIO)
Valuable? Rare? Difficult     Supported by    Competitive Performance
                   to         Organization?   Implications

No              -         -                   Competitive  Below
                                              Disadvantage Normal

Yes        No       -                         Competitive   Normal
Yes        Yes      No                        Temporary     Above
                                              Competitive   Normal
Yes        Yes      Yes                       Sustained     Above
                                              Competitive   Normal
        May 2006                                                     5
n   Implementing new ideas, products, or processes
     n     Product, process, organizational, marketing, business model
n   Economic development hinges on entrepreneurship
    and competitive advantage
            n   Entrepreneurship involves risk taking, innovations, and
     n     Creative destruction (Schumpeter) - radical innovations
     n     Stages of innovation
            n   Initiation stage: originality, ingenuity, inventiveness (elements
                of innovation)
            n   Implementation stage: plan, monitor, control (elements of
                project management)

May 2006                                                                            6
Social Capital             (Granovetter)

n   Network of relationships and informal
    knowledge exchange
n   Economic relations between people and
    companies is embedded in social capital
n   Sociological superglue, social weaving
     n     Strength of weak ties enhances innovation
     n     Strong ties hamper innovation

May 2006                                               7
Organizational Knowledge
n   Organizational sponge:
    absorb and squeeze
n   Knowledge iceberg
      n   Know-how (intangible
      n   Know-what (tangible assets)
      n   Which knowledge forms are

    May 2006                            8
Sources of Competitive
Advantage (VRIO)
n   Rarely tangible assets, frequently intangible
    assets e.g. knowledge based assets
     n     Tangible assets

     n     Intangible assets

     n     Innovations

     n     Social capital (under valued)

May 2006                                            9
    Crash Course in E
    Project Management

    A                    B

D                            C

    May 2006                 10
      Project Management
     • Project
        • Temporary, unique product / service / result
     • Project management
        • Tools, techniques, processes, methodology

n   Left brain – linear,             n   Right brain –
    rational                             creative, artistic
n   Technical                        n   Business/social
n   Hard skills                      n   Soft skills
n   Practical, logical               n   Interpersonal
n   Science                          n   Art
       May 2006                                               11
Project Management

n   Project Management Institute
     n     PMBOK        Guide - Input/Process/Output model
            n   9 knowledge areas
     n     Project Management Journal and PM Network
     n     Project Management Professional (PMP)
            n   Continuing certification
     n     Over 214,858 members, over 179,214 PMPs
n   Other associations and bodies of knowledge but
    no worldwide standard
n   Is the Body of Knowledge VRIO?

May 2006                                                     12
Project Management
n   Involves good interpersonal and
    organizational skills
n   The ability to plan thoroughly and
    trouble shoot effectively
n   Identifying and managing stakeholders
     n     Stakeholders are anyone (including
           organizations) that can +/-
           influence/impact the project
May 2006                                        13
 Project and Product Lifecycle
Initiate Plan Execute Close                                            Utilization   Closedown
  Business case

                  Project plan

                                                  Lessons learned


        May 2006                                                                                 14
The Juggler

May 2006      15
Priority Triangle (Time, Cost &
Scope) - Is that all there is?

Scope /

 May 2006                         16
Success Grid: Each row &
each column gets one X

 May 2006                   17
       Project Success or Failure                          (Belassi)

 Factors related to the
  Project Manager          Client consultation /
- Team members

                            Project manager’s
   Factors related to                               Factors related
     the project                                   to the external
                            Project estimates
 Factors related to the

        May 2006          SUCCESS OR FAILURE                           18
Project Risk Management (KA)
n   Risk: uncertain event or condition, that if it
    happens has a +/- effect on the project
     n     Risk management planning
     n     Risk identification
     n     Qualitative and quantitative risk analysis
     n     Risk response planning (avoid, accept, mitigate)
     n     Risk monitoring and control

May 2006                                                      19
 Risk Management Template
 (H,M,K, KIS)
Risk   Probability   Impact   Owner   Response   Monitoring
                                        Plan      Schedule

 May 2006                                                20
Phase Deliverables
n   Initiation Phase
     n     Business case and project charter
n   Planning Phase
     n     Project plan
n   Execution Phase
     n     Project execution plan
n   Close out Phase
     n     Lessons learned

May 2006                                       21
Some Current Research
n   Project management as a source of
    competitive advantage
     n     Social Sciences & Humanities Research Council
           (2006-2008) grant
     n     Social capital
n   Canadian upstream oil/gas project lessons
n   College/university project management
    courses and programs in North America
n   Teaching effectiveness for online educators
May 2006                                                   22

May 2006   23
              Thank you

                Kam Jugdev
              (403) 301-2956
May 2006                                                  24

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