Project Lessons Learned Recipes

Some people just like to boast about their work performances / achievements. They would just constantly boast to the peers about his outstanding work.

Whatever good things, he will be there to claim the credit. He will also be there to blame others if anybody commits any assignment mistake.

I am sure you have someone in your circle of friends and cohort that behave the same manner.

There are 2 sides of the coin in looking at this matter.

Regular boasting will imprint his good work in people’s mind even though he had not really performed a good work. Some peers had not done a good job in the assignment. In order to avoid the blame from others, he will comment on his past achievements for various moments.

This way he is creating a smoke screen for others and hoping people will forget his mistakes and better still, his achievements are remembered. Subconsciously, he anchored to others that he is good in his work. He is also trying to prove his management so as to win a seat in the next promotion.

On other hand, in order to prove others you are really good. You don’t have to tell others or broadcast everyone that you are good. Instead letting others to know you are good through your performance result and letting others to say you are good and that is an art. Not many people can achieve. Many people will sell or promote themselves vigorously. Of course there are no right and wrong in both approaches.

You seldom see any artist comment that they can performed well. Their efforts are normally recognized in those Awards, such as Oscars, Grammy Awards, Golden Globe Awards, MTV Music Awards, and Country Music Awards. etc. And the artists are judged by external panel not by him or her.

If you are good, you will be rewarded. You won’t tell the world that you are good to obtain the award.

Lesson Learned: Certain level of recognition is good and is a push factor to lift up one’s motivation and spirit. To prove your performance, there is a need to balance in your achievements declaration. However, if you will to use your achievement to cover your mistakes, then it does not make you a better person. In fact if you are still dwelling on the same mistake and tendency will commit it again.

If you have done a good job, it’s alright to boast your achievements but not for too long. Use the good result/ achievements to boost yourself and learn the mistake that you had made as lesson learns. These lessons learn will act as an improvement in the next assignment. Let others to judge you not you sell yourself.

When it comes to price comparison, it is a good practice to collate all returned quotations into a single spreadsheet and put the respective items side by side.

Once the alignment is done, you are able to compare the final price no matter what discount rate the vendor provides. Do an apple to apple comparison.

Compare the quotation line by line – item by item with the following criteria,

• Same exchange rate,
• Category,
• Discount structure,
• Logistics charges,
• Professional Services etc.

In Asia, pricing is an interesting and unique item.

There are many different countries in this region. Countries such as Thailand, Singapore, Hong Kong, Malaysia, Korea, Japan , Taiwan and so others. There are many taxation, currencies exchange rate issues that not many locations have.
In a project cost budgeting, a proper cost comparison is required.

Ultimately, how much the project needs to invest is crucial. Which vendor is offering the best deal and can offer highest cost reduction is important. However, low price quotations may come in with low quality. Thus project manager got to balance the constraints.

There are certain amount of margins that the vendor has to make.
However, the margin should be justifiable and should not be letting the vendor had the lion’s share.

Once the project kick-starts, project managers needs to track the project expenditure. Ensure there is no over spent on the project budget once it is approved.

There are many explanations, justifications if the spending is higher than the budget. Project Manager will have to answer to the Business Sponsor for the additional investment.

Discussion and effective negotiations are VERY important to get the deal win with low cost at the very initial stage.

It is easier for Business Sponsor to invest after you had made the necessary price comparison and valid justification.