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In this episode, Ricardo discusses the concept of "Done is Better Than Perfect" in project management. He highlights that perfectionism often leads to high costs, delays, and marginal improvements, citing the law of diminishing returns. Emphasizing the importance of MVPs (Minimum Viable Products), Ricardo notes that releasing a functional product quickly allows for iterative improvements and avoids missed opportunities. He stresses the balance between quality and timeliness, explaining that executing promptly builds stakeholder trust and credibility. Ricardo advises prioritizing essential features, using time-boxing to manage effort within deadlines, and aligning deliverables with project goals to thrive in a volatile and competitive environment.
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In this episode, Ricardo discusses the myth of the "Holy Grail" of project management methodologies. He challenges the idea that a single methodologyâwhether Scrum, PMBoK, or Prince2âcan be the perfect solution for all project issues. He emphasizes the importance of using a flexible, adaptable approach, combining elements from multiple methodologies to fit each project's unique needs and likens this process to building with Lego bricks, where different colored sets represent various methods.
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Image created in PMOtto for ChatGPT.
#PMP, #PRINCE2, #RiskManagement, #Certification, #PMBok, #Scrum
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In this episode, Ricardo discusses Meta's recent development of a "self-thought evaluator," which uses synthetic data to train AI models instead of real human-generated data. This innovation could transform project management by creating lessons learned and risk insights from simulated, rather than real, projects. Ricardo highlights the potential for synthetic data to disrupt the field, as it may reduce the competitive advantage of organizations traditionally relying on real experiences and knowledge. He views this advancement as exciting yet unsettling, given the impact it could have on the value of genuine expertise and experience in project management.
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In this episode, Ricardo reflects on a conversation with a project manager who claimed it wasnât his responsibility to consider the long-term impact of his project. Ricardo argues that todayâs project managers must go beyond delivering on time and within budget. They should evaluate the ethical and societal impacts of their work, ensuring it aligns with the greater good. He explains that every project professional, regardless of seniority, has a duty to ask questions and act ethically. Being socially responsible, sustainable, and mindful of societal effects is essential in modern project management.
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In this episode, Ricardo discusses the concept of value in projects, explaining that true value goes beyond profit. He questions whether delivering projects on time and on budget truly adds value if they do not benefit society. Using the example of building a bridge that âconnects nothing to nowhere,â he highlights the importance of sustainability and the social impact of projects. Ricardo also discusses industries such as online gambling, where profit can come at the cost of social harm. He encourages project managers to consider the long-term social value of their work, advocating for responsible project management that positively impacts society and the environment.
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In this episode, Ricardo talks about the benefits of implementing Daily Scrums, even in non-Agile projects. These brief, 15-minute stand-up meetings foster open communication, help teams align, and quickly identify problems. By sharing what they did yesterday, what they plan to do today, and any obstacles, team members enhance accountability and collaboration. Daily Scrums improve decision-making, detect problems early, and maintain team focus and momentum. Ricardo highlights that these meetings work best in small groups and can be applied even to large projects with multiple teams. He encourages listeners to try this approach immediately for better synchronization and faster project progress.
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In this episode, Ricardo Vargas explores the growing debate around AI's impact on jobs. Last year, Morgan Stanley predicted that AI would disrupt 40% of the workforce (Link to the Article). Last week, Prof Daron Acemoglu from MIT said that everybody overestimates the impact and that the true impact is only 5% (Link to the Article).
But for Ricardo, the percentage does not matter; the key is to be prepared for these changes. Ricardo shares his experiences with AI tools and emphasizes the importance of experimenting and adapting. Waiting for the perfect solution won't helpâyou must act now.
Listen to the episode to discover why adaptability is your best strategy in an unpredictable world shaped by AI.
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In this episode, Ricardo discusses the volatility of AI projects. He explains that AI projects face volatility due to rapid technological advancements, constant changes in API connections, and their experimental nature. Regulatory and ethical considerations evolve daily, creating uncertainty about legal and public perceptions. Talent shortages compound the challenge, with expertise in high demand and high turnover rates. To manage this volatility, Ricardo suggests adopting agile methods, allowing for flexibility and faster iteration; investing in robust data management to handle large amounts of data and ensure quality; and finally, building multidisciplinary teams that can adapt to evolving AI technologies and collaborate across technical and non-technical areas for long-term success.
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In this podcast, Ricardo explains the concept of delivery cadence, which defines how and when a project delivers products or services. He describes four types: single delivery (everything delivered at the end, rarely used today), multiple delivery (milestones with variable timing), periodic delivery (timeboxed intervals like sprints), and continuous delivery (common in digital projects, where updates are released as soon as they are ready). Ricardo explains that using a delivery cadence improves project predictability by managing stakeholder expectations. Even large capital projects, such as power plants, do not rely on single deliveries, but rather on phased implementations for better financial viability.
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In this episode, Ricardo introduces the AI-Driven Project Manager Certification, explaining the rationale behind this certification. He highlights the growing hype around AI, with many project managers using AI terms without understanding the technology. The certification aims to ensure that professionals have the knowledge needed to manage AI-driven projects effectively. Developed in partnership with APMG, known for its Prince2 and ITIL credentials, the certification is rigorous and severe. Ricardo also highlights the importance of preparing for the future impact of AI on project management, noting that his motivation is not just business-driven but aimed at promoting awareness and readiness among professionals.
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In this podcast, Ricardo talks about the common problem of project backlogs that grow instead of shrinking. He offers three practical tips for managing them effectively: (1) Accept that your backlog will never be empty. (2) Prioritize tasks through âradical prioritization,â focusing only on what really matters and delegating or discarding the rest. (3) Control what goes into the backlog, using a âparking lotâ for ideas that may not be immediately essential. Ricardo emphasizes the complexity of projects and the importance of making strategic decisions to avoid unnecessary tasks in the project.
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Ricardo talks about PMIâs AI Prompt Engineering for Project Managers course in this episode. He highlights the importance of crafting effective prompts using AI tools like ChatGPT. Essential guidelines include being specific, providing context, setting the right tone, knowing your audience, ensuring clarity, and using structured prompts. Ricardo also stresses the need to experiment, test, and refine prompts for the best results. He encourages PMI members to take the course, praising its value for project management professionals. PMI does not sponsor the episode, but Ricardo shares his genuine appreciation for the course.
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** Check out PMI's Talking to AI course
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In this episode, Ricardo explains the differences between OKRs (Objectives and Key Results) and KPIs (Key Performance Indicators). While both are measurement tools, they serve different purposes. KPIs track ongoing processes, offering real-time insights into performance, such as project progress in terms of time and cost. OKRs, on the other hand, are goal-setting frameworks that push teams toward ambitious targets. Unlike KPIs, OKRs are time-bound and tied to specific objectives. Ricardo emphasizes that OKRs and KPIs are distinct and should not be considered subsets of one another despite their measurement functions.
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In this podcast, Ricardo addresses a skeptical comment about AI's impact on project management, specifically questioning whether AI will diminish the role of project managers and PMI's responsibility in shutting down AI. Ricardo emphasizes that neither he nor his colleague Antonio are pushing an AI agenda for profit. Instead, they believe in AI's transformative potential and advocate for preparedness through education and training. Ricardo argues that adaptation is crucial as AI changes the field, and institutions like PMI are working to guide project managers in navigating these changes. He stresses the importance of understanding AI to thrive in the future.
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In this episode, Ricardo talks about the importance of understanding emotions in project management, emphasizing that human challenges often outweigh technical ones. He introduces the "Wheel of Emotions" by Robert Plutchik, which categorizes eight primary emotions into pairs of opposites, helping project managers recognize and manage emotions in themselves and their teams. Ricardo explains how this tool can improve communication and team cohesion by addressing emotions like fear, trust, and disgust. He acknowledges that while the model may simplify complex emotions, it is a valuable resource for non-experts in psychology to enhance emotional awareness in project management.
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* The Plutchik Wheel can be downloaded Here
* Image: @The Scientific Research Society and SixSeconds
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What happens when a project loses the project manager or an absolutely critical member?
In this episode, Ricardo discusses the challenges of changing project manager mid-project. He explains that it is costly and risky due to potential accountability issues, where the new manager may blame the predecessor. To mitigate these issues, he advises keeping documentation organized and project files clear. Effective stakeholder management and communication are crucial to avoid rumors and misunderstandings. Ricardo emphasizes the importance of clear and formal communication to avoid misinformation. He concludes by saying that changing project manager significantly impacts the dynamics of the project.
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*Image generated by PMOtto for ChatGPT
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In this episode, Ricardo discusses the virtuous cycle in AI development, based on Andrew Ng's Coursera course, "AI for Everyone," and highlights the importance of creating AI projects that intersect with business value. Ricardo explains that more data improves algorithms and services, attracting more users, which generates more data and creates a virtuous cycle, leading to some companies dominating AI due to their vast data resources. Ricardo also suggests using existing large language models with fine-tuning for specific applications and recommends Andrew Ng's course for a better understanding of the fundamentals of AI.
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In this episode, Ricardo discusses a recent global computer meltdown that affected 1% of Microsoft Windows computers, causing chaos across multiple industries. He comments on the risks of relying on unique technologies, using an example from his own business. Ricardo distributes his technological needs among several suppliers (Apple, Google, AWS, Dropbox) to mitigate risks. He advises companies to plan for technology failures by diversifying the use of technology, ensuring backup solutions, and preparing for different scenarios to maintain operations. Ricardo concludes that understanding and managing risks is crucial for effective decision-making and business continuity.
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Image from Wikimedia
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In this episode, Ricardo discusses the OpenAI ranking to classify AI systems, highlighting the importance of clearly communicating these advances to the general public. The ranking has five levels:
1- Chatbots that support but do not replace jobs,
2 - Systems that solve problems at the human level,
3 - AI capable of taking action, Innovative AI,
4 - Creating new products,
5 - Complex organizational operations managed by AI.
We are currently at level 1 and progressing to level 2. Ricardo comments that this clear communication helps us understand the direction and potential of future technology.
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* Image generated by PMOtto on ChatGPT
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In this episode, Ricardo talks about the importance of understanding the political aspects of project management. Effective project delivery isn't just about planning, budgeting, risk analysis, or stakeholder management; it requires the management of human interactions and political dynamics. Ricardo gives four main tips: influence mapping to understand authentic relationships beyond organizational charts, using political intelligence to read unspoken signals, strategic commitment to protect the central elements of the project, and maintaining ethics in political maneuvers. He points out that mastery of political awareness comes from practical experience, not just theoretical learning, and is crucial to successful project management.
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* Image generated by PMOtto on ChatGPT.** Discover the new course on problematic projects at: https://youtu.be/JIaRnLfHfas - Se mer
