The same drive for efficiencies in manufacturing processes that sparked what is now known as “Lean” can help businesses reduce costs and decrease time-to-market while simultaneously boosting talent retention. The 2015 Lean Business Survey concluded that 92% of companies leveraging Lean enjoy “moderate to significant improvements in project success.” Growing your team’s Lean skill set can produce ongoing business benefits.
In a $200 billion marketplace saturated with vendors of all kinds, finding corporate training classes is easy. However, finding quality corporate training solutions that align with your business goals and enable your talent to gain needed skills, takes more than a mere internet key word search. There are five factors you can use to ensure you get more than just a class with a good title, but that you secure an effective training solution for your team.
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All project management training is not the same in terms of what it covers or how it is delivered; the variables in training types can make finding the right choice for your team or company a challenge. To ensure you maximize your training budget, align your corporate training solution with your team’s development needs.
COVID-19 is like that car accident just up ahead which you know you shouldn’t be focusing on while driving, but which draws the attention of all around it. After doing a number of articles related to the pandemic, I’d planned to write about something completely different, but as my weekly blogging time drew near I realized that there was (at least) one more topic I needed to write about.
March 2020 saw a record broken for unemployment claims, and in coming months, according to Moody’s Analytics, more than 50% of the US Workforce is at risk for unemployment. With companies examining their bottom line in terms of remaining viable for an unknown time span, including economic recovery, savvy professionals are seeking training to demonstrate their value. Your skills can be a part of your own professional survival kit.
The most successful Project Managers inspire others to reach goals, apply critical thinking skills to complex situations, and navigate organizational challenges. One way to enhance your Project Management career is through mentoring as either Mentor or Mentee. And mentoring as a development tool is recognized and respected by the C-Suite as an important training investment.
Virtual classes combining live instruction and online materials enable you to learn from the experts from the convenience of your home office space. To prepare for your Project Management Professional or PMI Agile Certified Practitioner (PMP® or PMI-ACP®) certification, start with a virtual training that provides the opportunity to: engage with the faculty directly, expand your professional network across industries, and leverage digital resources as part of your personalized study plan. Research shows that a carefully designed virtual training is highly effective with 86% reporting ”…the experience “just as engaging” or “more engaging than” traditional classroom training…” In that same study, students in the virtual version of a class actually scored higher than their counterparts in the face-to-face classroom.
Training managers know that training encompasses much more than what happens during the class itself. There is an infrastructure of talent, logistics, training materials, vendor management, and employee engagement that must come together for effective learning to occur. Training Magazine’s Industry Report, a standard for over three decades, reported in 2019 total U.S. training expenditures as $83 billion, including the costs of training staff and vendor services. Both direct and indirect costs should be included when determining the true cost of any corporate training effort so that budgets can be determined and the ROI of corporate training calculated.
The January 2020 issue of PM Network provide a case study for one of the 2019 PMI Project of the Year finalists, the Société de transport de Montréal’s (STM) eight-year project to modernize the underground Montréal rail system. I have a soft spot in my heart for this system, having spent most of my formative years in Montréal and having been a frequent user of its services while commuting to university and my first job. I always found it to be a clean, safe, efficient and reliable method of getting around the city. As such, it was a bit of a surprise for me to read about the operating challenges faced by the STM in recent years and the anticipated growth projections, both of which were the impetus for this ambitious project.