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The Five Fundamental Rules of Project Management

Okay, the title is a bit of a false advertising. I'm not revealing the top five rules - I'm actually looking for help in defining rules 3-5. Any input is appreciated - care to weigh in with an opinion?

I've had a number of discussions, with some of the best project managers I know, as we discuss ways to simplify methodologies and streamline our delivery process. Many organizations are trying to train their next generation of project managers, and all seem to run into the same basic problem. You can hand someone the PMBOK, teach them how to use MS Project, and send them off to PMI certification classes - but that doesn't guarantee an effective project manager. The toughest thing to train is the "soft skills" - how to get things done through other people without being able to tell them what to do.

Through these discussions, we've tried to come up with the Five Fundamental Rules of Project Management. Methodologies, documentation styles, collaboration tools & design frameworks come and go, but in the end - these are the critical things that you must focus on to be an effective PM:

  1. Manage Expectations: This is Rule Number One, and I typically get agreement on this pretty quickly. It encompasses communication (early and often) plus clarity of requirements. I once had a VP/GM tell me to never be afraid of delivering bad news as long as you give people plenty of time to react. Budget overruns and missed dates can be managed - but it's a lot easier to manage things with two months warning. Never wait until the day before a go-live to drop the bomb!
  2. Watch the Critical Path: A cynical way of saying this is stay off the critical path; the best project managers are adept at identifying what truly is the Next Most Important Thing to Work On, and focusing their effort to make sure these items don't delay the project. A laser focus is not quite what you're looking for - you need to be able to anticipate what's next on the critical path, and what other things are close.

Now, here's where the conversation decomposes - I can get clarity on 1-2, but there are any number of candidates for the next three of this Top Five ...

I'm sure I am missing a few, and I definitely have more than five here. Anyone care to weigh in on my "course syllabus for PM 101"?