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Sunday, November 3, 2024

Tales from a Project Manager – The Project Manager, Project Management Office, and Planning

Tales from a Project Manager – The Project Manager, Project Management Office, and Planning

Project Management is only as good as the individuals and leaders who mange the key functions.  With that, project management requires a group of people dedicated to the achievement of specific goals.

We will explore the role of the project manager, understand the responsibilities of the Project Management Office, and explore the critical stage of all projects which is planning.

The source artifact for this post is Harold Kerzner's, "Project Management:  A Systems Approach to Planning, Scheduling, and Controlling" 

 

Project Manager

Honesty and integrity or required to foster an atmosphere of trust and thus a project manager must exhibit honesty and integrity to build a culture of trust. 

Selecting a project manager is not an easy effort.  Harold Kerzner in the book, “Project Management:  A Systems Approach to Planning, Scheduling, and Controlling (SAPSC), 11th Edition,” indicates there are five (5) basic questions to consider:

  • What are the internal an external sources?
  • How do we select?
  • How do we provide career development in project management?
  • How can we develop project management skills?
  • How do we evaluate project management performance?

Harold Kerzner goes further in the book, “Project Management:  A Systems Approach to Planning, Scheduling, and Controlling (SAPSC), 11th Edition” and defines the major responsibilities of a project manager to include:

  • Producing the end item with available resources and within the constraints of time, cost, and performance / technology
  • Meet Contractual profit objectives
  • Make all required decisions whether they be for alternatives or termination
  • Act as the customer (external) and upper-level and functional management (internal) communications focal point
  • “Negotiate” with all functional disciplines for accomplishment of the necessary work packages within the constraints of time, cost, and performance / technology
  • Resolve all conflicts

Besides the major responsibilities listed above, Kerzner indicates project managers are constantly required to demonstrate their skills in interface, resource, and planning/control management.

 

Project Management Office

The project management office is a support organization for project managers to carry out their duties.  Integration of work across the functional lines of the organization is a major responsibility of the project managers and the project management office. 

The most common cause of project failure is the lack of integration of functional units.  So the project management office plays a critical role in horizontal integration across the organization.  Thus the PMO is looking to get the functional units working toward the same designs, specifications, and objectives.  This is important across R&D, engineering, manufacturing, and subcontractors.

Harold Kerzner’s, “Project Management, SAPSC 11th edition,” states the responsibilities of the project office also include:

  • Focal point of information for both in-house control and customer reporting
  • Controlling time, cost, and performance to adhere to contractual requirements
  • Ensuring all work required is documented and distributed to all key personnel
  • Ensuring all work performed is both authorized and funded by contractual documentation.

Four major activities of the project office are:

  1. Integration of activities
  2. In-house and out-of-house communication
  3. Scheduling with risk and uncertainty
  4. Effective Control

 

Planning

This is the critical stage of any project and includes more than just planning the activities that need to be accomplished.  Harold Kerzner’s, “Project Management: SAPSC, 11th edition,” suggests that this critical stage also includes, “the planning and establishment of the authority relationships that must exist for the . . . . project.” 

In planning, “the project team develops a responsibility assignment matrix (RAM) that contains such elements as:

·        General management responsibility

·        Operations management responsibility

·        Specialized responsibility

·        Who must and may be consulted

·        Who must be notified

·        Who must approve. 


Final Thoughts

Kerzner’s book, “Project Management: SAPC, 11th edition,” clearly lays out the challenge the project management office can help solve which is the horizontal integration of the functional teams. 

Selecting a project manager is important but not an easy task.  There are several questions that should be answered when selecting the project manager.  The project manager has several explicit responsibilities in addition to the implicit responsibilities of interface, resource, and planning / control management.

Planning is a critical stage of all projects and includes more than just planning what activities are needed.  It is necessary during planning to define the authority relationships that are necessary for the project and to have the project team develop a responsibility assignment matrix (RAM). 

Tuesday, September 24, 2024

S&P 500: 2024 Additions and Removals

 S & P 500:  2024 Additions and Removals

The S&P 500 index is a barometer for the US Economy and one of the most followed indexes in the world.  At times the S&P 500 goes through a rebalancing of the companies that are included in the index.  

Because the index is weighted based on the market value of the companies, the most valuable companies account for the largest percentage of the index.  Microsoft, Apple and Nvidia accounted for about 20 percent of the S&P 500 as of September 2024.

But before we take a look at the companies added and removed from the S&P 500 Index, first lets review some of the key criteria for inclusion in the S&P 500 as of August 2024:

  • Must be a U.S.-based company.
  • The company satisfies the periodic reporting obligations set forth in the U.S. Securities Exchange Act.
  • Must be listed on a major U.S. stock exchange such as the NYSE, Nasdaq or Cboe.
  • Must have a market capitalization of $18 billion or more.
  • Stock should trade a minimum of 250,000 shares in each of the six months prior to being evaluated for index inclusion.
  • The most recent quarter’s GAAP earnings as well as the sum of the previous four quarters’ GAAP earnings should be positive.


So what are the companies that have been recently added and removed from the S&P 500 in 2024?

S&P 500 Additions in 2024

 

Effective date

Company

Ticker

Sector

Sept. 23, 2024

Palantir Technologies

PLTR

Information Technology

Sept. 23, 2024

Dell Technologies

DELL

Information Technology

Sept. 23, 2024

Erie Indemnity

ERIE

Financials

June 24, 2024

KKR & Co.

KKR

Financials

June 24, 2024

CrowdStrike Holdings

CRWD

Information Technology

June 24, 2024

GoDaddy

GDDY

Information Technology

May 8, 2024

Vistra

VST

Utilities

April 2, 2024

GE Vernova

GEV

Industrials

April 1, 2024

Solventum

SOLV

Health Care

March 18, 2024

Super Micro Computer

SMCI

Information Technology

March 18, 2024

Deckers Outdoor

DECK

Consumer Discretionary

 

S&P 500 Removals in 2024

 

Effective date

Company

Ticker

Sector

Sept. 23, 2024

American Airlines Group

AAL

Industrials

Sept. 23, 2024

Etsy

ETSY

Consumer Discretionary

Sept. 23, 2024

Bio-Rad Laboratories

BIO

Health Care

June 24, 2024

Robert Half

RHI

Industrials

June 24, 2024

Comerica

CMD

Financials

June 24, 2024

Illumina

ILMN

Health Care

May 8, 2024

Pioneer Natural Resources

PXD

Energy

April 3, 2024

V.F. Corp

VFC

Consumer Discretionary

April 3, 2024

Dentsply Sirona

XRAY

Health Care

March 18, 2024

Whirlpool

WHR

Consumer Discretionary

March 18, 2024

Zion Bancorporation

ZION

Financials


Final Thoughts

For a complete listing of the companies included in the S&P 500 Index go to:  https://en.wikipedia.org/wiki/List_of_S%26P_500_companies

Investing in the S&P 500 is a great way to build wealth over time and understanding the company make up of the index is good to know.  We explore the S&P 500 Index further in this blog post:  S&P 500 Index Blog Post


Source Article:  S&P 500 stocks: List of additions and removals in 2024 by Brian Baker, CFA

Saturday, September 21, 2024

 

Festivals and Events in Chicago Area

Fall in Chicago means Fall festivals.  Looking for some fun or a good time then you are in the right place as there are Fall festivals happening all around Chicago in September and October.  Below is a list of several noteworthy festivals and events worth checking out.

Updated:  September 21, 2024

Chicago Summer Events
Chicago Area Events



September and October 2024

Sept. 14 - Oct 30       Sonny Acres Fall Festival - West Chicago

September 20 - 22       Riot Fest Music Festival - Douglas Park, Chicago

Sept 21 - Oct. 27       Pumpkin Daze - Abbey Farms - Aurora

Sept 22 - Oct 31       Jack's Pumpkin Pop-Up (tickets required) - Goose Island, Chicago   


Sept 27 - 29       Oktoberfest Chicago - St. Alphonsus - West Lakeview, Chicago


Sept 27 - Oct. 30    Wicked West Fest - Westmont

October 4 - 5    Naper Settlement Oktoberfest - Naperville

October 4 - 6     Lincoln Park Wine Fest - Lincoln Park, Chicago

October 5        Chicago Beer Fest - Field Museum, Chicago

October 5      Family Fall Festival (starts at 9 AM) - Elmhurst

Oct. 11 - 13     Autumn on the Fox Art and Craft Show - Saint Charles     

Oct. 11 - 13     Scarecrow Fest - Saint Charles

Oct. 12 - 13    Fall Festival at Danada - Wheaton

Oct. 12 - 13    Harvest Pow Wow - Wheaton

October 13      Chicago Marathon - starts near Grant Park, Chicago

October 26     BatFest - Batavia

October 26     Fall Color 5K Run & Walk - Morton Arboretum - Lisle


Final Thoughts

Chicago is great in the Fall.  These events and festivals are just a sampling of the many festivals, concerts, and events in the Chicago area.  


(C) 2022-24 jspublishing.blogspot.com

Sunday, January 22, 2023

Lake Geneva Winterfest

Lake Geneva 28th Annual Winterfest 

The City of Lake Geneva holds the 28th Annual Winterfest, featuring the U.S. National Snow Sculpting Championship February 1 – 5, 2023. 

This is the only national snow sculpting championship in the United States.  This is the 28th year of the Winterfest and it welcomes the most talented and award-winning sculpting teams from across the country to compete against each other.  

The snow sculpting competition runs 11am Wednesday February 1st through 1pm Saturday February 4th at Riviera Plaza and Flat Iron Park along the beautiful shore of Geneva Lake. 

Admission is FREE to attend and the ice sculptures will remain on display through Sunday (and until they melt).


Lake Geneva Winterfest
Lake Geneva Winterfest Snow Sculpture 

This is considered the gold standard of snow sculpting competition and draws over 60,000 guests annually to enjoy the snow sculpture competition and an array of fun winter-inspired events and activities throughout the region.

The winter fest has loads of fun events and activities including “BONFIRES ON THE BEACH,” which includes cozy bonfires, live entertainment, warm drinks, and tasty s’mores and other treats.

Besides the U.S. National Snow Sculpting Championship competition Winterfest includes a local school snow sculpture event, a fire and ice bar, the downtown ice sculpture walk, a snowball white party, and the Riviera Ballroom warming center. 

Free shuttle bus service is available for the Winterfest.

For the Winterfest schedule, directions, parking, and other information go to:  https://www.visitlakegeneva.com/winterfest/



Lake Geneva offers a variety of activities for all ages besides the Winterfest.  This is a run down of some:  

  • Ice skating 
  • Sledding
  • Skiing 
  • Ice Fishing
  • Explore the Ice Castles

Also, the Grand Geneva located at:  7036 Grand Geneva Way  Lake Geneva, WI 53147 has Ice Skating, a Sledding hill, snowshoeing, and cross country skiing.

Bundle up and head out for the Winterfest in February and check out some of these other fun winter activities.

For more travel information and destinations visit our Travel Page.

And to learn about things to do in Hoffman Estates check out the post:  Things to do in Hoffman Estates


Final Thoughts

This is the 28th annual year of the Lake Geneva Winterfest.  The snow sculpture competition produces such amazing creations.  And besides the snow sculpture competition there is a ton of other activities and fun things to do.  Hope to see you February 1st - 5th at the Lake Geneva Winterfest.


(C) 2023 jspublishing.blogspot.com

Sunday, January 8, 2023

Free Chicago Museum Days

Free Chicago Museum Days


Free Museum days for Illinois residents to Chicago museums is a great perk.  Chicago has some world renown museums and visiting the museums on free days is helpful on the wallet.  

The 2023 free museum dates have been announced by most museums and here is the list for Adler Planetarium, Art Institute of Chicago, Chicago History Museum, Field Museum, Museum of Science and Industry, Shedd Aquarium, and others.



Adler Planetarium


Adler Planetarium has free museum days for Illinois residents:

  • Every Wednesday evening from 4 – 10 p.m.

All tickets must be reserved online and in advance.




Art Institute of Chicago


Offers free admission days for Illinois residents during particular days of the year.

Free museum days in 2023 for Illinois residents at the Art Institute of Chicago are:
  • Weekdays (Mondays, Thursdays, and Fridays) from Jan. 9 – March 24, 2023

Free admission tickets for Illinois residents must be reserved online in advance.

Note:  The Art Institute is always free for Chicago teens under the age of 18, all children under age 14, Link and WIC cardholders, active-duty military, and Illinois educators.




Chicago History Museum


Free admission on select holidays and dates throughout the year are available to Illinois residents.

The announced dates for Illinois residents to receive free admission are on the following days in 2023:
  • January: 16 – 20, 24 – 27, 31
  • February:  1 – 3, 7 – 10, 14 – 17, 20 – 24, 28
  • Holidays:
    • Martin Luther King Jr. Day (Jan. 16)
    • Presidents’ Day (Feb. 20)
    • Fourth of July (July 4)
Note:  Always free for active duty military and veterans, active duty Chicago police and firefighters, Illinois teachers, Illinois residents under age 18, and all children under 12.




Field Museum


Offers free basic admission, plus discounted passes to explore a ticketed exhibition or enjoy a 3D movie, for Illinois residents on select dates throughout the year.

Free museum days at the Field Museum in 2023:

  • January:   10, 11, 16, 17, 18, 24, 25, 31
  • February:   1, 7, 8, 14, 15, 20
  • March:  7, 14

Tickets for free days are only available onsite.  Free tickets include all general admission exhibitions, such as Evolving Planet, The Ancient Americas, and Inside Ancient Egypt.



Museum of Science and Industry


Offers free admission for Illinois residents on select dates throughout the year.

Here are the free admission days announced for the Museum of Science and Industry for 2023:

  • January  9–11, 16–18, 23–25, 30–31
  • February 1–2, 6–9, 13–14, 16, 21
  • March 1, 6, 14 
  • April 18, 22
  • May 4, 9, 17–18
  • June 1, 6–7
  • August 22, 28–29
  • September 5–6, 11–12, 15, 18–20, 26
  • October 4–5, 9, 16–17
  • November 1, 8

Note:  The Museum is always free for United States military active-duty personnel and veterans, Illinois POWs, Chicago firefighters, Chicago police officers and Illinois teachers (Pre-K through 12th grade).




Peggy Notebaert Nature Museum


Offering suggested donation admission on the following days in 2023 where Illinois Residents can enjoy free admission during these Suggested Donation Days,:

  • January: 5, 12, 19, 26

Note:  Always free for active-duty service members with ID and their families, Illinois teachers, and children under three.





Shedd Aquarium


Illinois residents receive free access to all permanent exhibits, including special exhibits Underwater Beauty and seasonal Stingray Touch, on select dates throughout the year.

Free museum days for Illinois residents at the Shedd Aquarium in 2023:
  • January:   12, 13, 14, 15, and 16
  • February:   7, 8, 9, 14, 15, 16, 21, 22, 23, and 28

Note:  Advance reservations are required; no tickets will be available onsite.  All adults must provide proof of residency in-person when redeeming tickets at the discounted rate.



Saturday, January 7, 2023

What are the Best Chicago Brunch Places?

What are the Best Chicago Brunch Places?

Chicago is known for its world famous food scene and past posts have provided insight on some Chicago Best Restaurants and best taco places in the area.  Now we take a look at some of the best brunch places in Chicago.      

We take a look at eight (8) frequently recommended brunch places among Facebook users in the Chicago area.  



Lou Mitchell's


About:  Iconic diner serving hearty breakfasts & lunches since 1923.  Located near the Sears (Willis) Tower on Jackson Boulevard.

Brunch Menu Includes:  Fluffy Jumbo Omelettes, Pancakes and Waffles, Eggs Benedict, Biscuits and Country Style Sausage Gravy, Coffee Cake, Doughnuts, Marinated Skirt Steak, Baked Meat Loaf, Burgers, Chicken, etc.

Address:  565 W Jackson Blvd, Chicago, IL 60661

Phone:  (312) 939-3111

Google Stars:  4.6

Price Range:  $$




Cindy’s Rooftop

About:  This restaurant offers one of the best rooftop dining and brunch experiences Chicago has to offer.  Frequently recommended by folks on Facebook.  Cindy’s is atop the Chicago Athletic Association north of the Art Institute and across the street from Millennium Park.

Brunch Menu includes

  • Drinks:  DIY Mimosa, Bloody Mary, Coffee, Tea, Espresso
  • Food:  Oysters On The Half Shell, Smoked Salmon, and Buttermilk Pancakes.  

Address:  12 S Michigan Ave, Chicago, IL 60603

Phone:  (312) 792-3502

Google Stars:  4.5

Price Range:  $$$




Honeybear café

About:  Local, family-owned restaurant in the Rogers Park neighborhood offering a full service menu of breakfast and lunch items.  Frequently mentioned on Facebook as a great Chicago Brunch spot.  

Breakfast Menu includes:   Biscuits and Gravy, Huevos Rancheros, Skillets, Vegan Tofu Scrambler, Omelets, Crepes, French Toast, and lots more 

Address:  7036 N Clark St, Chicago, IL 60626

Phone:  (773) 754-7450

Google Stars:  4.5

Price Range:  $$



Beatrix

About:  Neighborhood coffeehouse, restaurant and meeting place in Chicago’s River North, Streeterville, Fulton Market, Oak Brook and Loop neighborhoods.  Brunch Served Saturday & Sunday until 3:00pm

Brunch Menu includes:   

  • Drinks:  Mimosas, Bloody Mary, Martinis, Margarita, Fresh squeezed juices
  • Food:  Prime Steak & Eggs, French Toast, Pancakes, and more . . .

Locations:  

Google Stars:  4.5

Price Range:  $$



Frances' Brunchery

About:  Landmark in Lincoln Park for over eighty (80) years – serving diners breakfast, lunch, and brunch (before it was even a thing).  Serving daily 9 AM – 3 PM.

Breakfast Menu includes:   French Toast, Omelets, Pancakes, Waffles, Homemade Sausage patties, Skillets, and more.

Address:  2552 N Clark St, Chicago, IL 60614

Phone:  (773) 248-4580

Google Stars:  4.4

Price Range:  $$




Beatnik On The River 

About:   Mediterranean restaurant with a funky-ornate setting with riverfront seats offers a favorite Weekend Brunch experience. Hear world beats by DJs in a riverfront terrace (heated and enclosed with clear panels during cooler months), and sip on tropical drinks while enjoying brunch.

Brunch Menu includes:   Tomato & Avocado Toast, Cubano Breakfast Sandwich, Vegan Chilaquiles, bakery items, and more

Address:  180 N Upper Wacker Dr, Chicago, IL 60606

Phone:  (312) 526-3345

Google Stars:  4.2

Price Range:  $$$




Wake ‘n Bacon

About:  Trendy destination with extensive, locally sourced international brunch menu.  A unique brunch with American, Asian, and Latin flavors paired with fun cocktails.   Note:  Reservations Are Required For a Table

Breakfast Menu includes:   

  • Drinks:  Coffee, Tea, Specialty Drinks, Cocktails, Beer
  • Food:  Spiced Maple Chicken 'n Waffles, Berry Bliss Crepes, French Toast, Pancakes, Eggs, and a variety of other unique dishes

Address:  420 W Belmont Ave, Chicago, IL 60657

Phone:  (773) 880-5100

Google Stars:  4.2

Price Range:  $$




Yolk

About:  Café chain serving creative breakfast dishes & sandwiches in a cheery, contemporary atmosphere.

Breakfast Menu includes:   Eggs Benedict, Combos, Avocado Toast, Skillets, Omelets, pancakes, breakfast burritos, and more 

Address:  Multiple locations throughout Chicago and Illinois – see website for addresses

Google Stars:  4.1 – 4.4 **Depending on the location

Price Range:  $$



Final Thought

Chicago is home to a wide variety of great food and these venues offer a flavorful and unique experience.   So if you are in Chicago and are looking for great brunch or breakfast places try one of these Facebook user favorites.  Leave a comment on any additional brunch places you recommend and we will research it.   Enjoy!! 


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I am James Bamberger, an experienced long term investor, MBA, PMP, and Certified Scrum Master who enjoys traveling, the outdoors, family, and spending time with my four kids. You will find Information on leadership, journaling, investing, travel, and the outdoors here. Post a comment if you don't find the information you are looking for. We (my oldest daughter and I) are adding new material often.

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