Ok folks, I'm sick to death of Project Management. It doesn't work. It's the Total Quality Management concept of the 80s revamped, retreaded, and resold. It's lame lame lame.
The worst part is that it's not even a real business discipline. I mean, it is, when you look at it, and it works fabulous if it's practiced. But in reality, it's nothing more than a RELIGION. Project managers are the priests, and the team members that have to follow the PM laws? They're the heathens being forcibly "converted" on pain of getting a poor performance review.
The PM ship hasn't sailed yet, but it's definitely at the dock and the captain's ordering the ship hands to throw off the docking ropes. Project MAnagement Institute did an awesome job marketing their Project Management Book of Knowledge (PMBOK) to the feds, and now every federal contract requires a PMP certified Project Manager on staff. So we know they'll be around for a while yet.
But the sad truth is that when business people saw that, they went out in DROVES to get their PMP, not to learn how to run projects efficiently to best practices so that their company could save money and tehir projects would succeed, oh no. They did it to be more marketable and to have more earning potential. Some managers got it just to be chic. Others got it because they saw that someone with a PMP after their name got more respect and authority, and they coveted that. But every person who studied the PMBOK and took the test who didn't buy into the belief system, anyone who didn't Come to PRocess and be reborn, everyone who got the certification and then kept doing things badly, each of these people is personally responsible for ruing project management for the rest of the world.
The company I work at has a million PMPs in middle level management. They spent millions developing a "project management life cycle" and all the supporting processes and integrated it into their SDLC, but not one of the bastards thinks it's anything more than fluff to be ignored. Why? Because they don't follow it, the project fails, and then they say, "well we have PMBOK compliant processes, but the projects failed anyway, so it doesn't work." NEver mind that they failed to follow processes. And the VPs don't know any better than to believe their Directors, so this idea that PM is worthlesss gets traction, and the buzz becomes the reality.
What we need is somone with the Economic Fortitude to come up with something better. Somewhere out there someone is working on the replacement "paradigm" that will take the place of Project Management. I hope it get phrased in language people already use instead of developing a specialized vocabulary. I hope it's so easy a 2nd grader can do it. I hope they're brilliant enough to make a fortune off of it.
My idea for a replacement is "pragmanagement." It's pragmatic management. You do what works and you do it simple. You have small teams, with small deliverables, and you use the cheapest, simplest tools available to finish the project. You don't use Oracle and Informatica and Business Objects Universes on the same project, oh no.
KISS Management.
Monday, June 8, 2009
Friday, June 5, 2009
Developing Multiple Streams of Income
I'm doing pretty well in this economic downturn. I purchased a book titled The Four Hour Work Week. This book teaches a methodology of developing multiple streams of low-grade income that add up to compensate for your current salary, enabling you to quit and end up working only 4 hours a week managing and maintaining the revenue streams.
I started on this process about three years ago. Then I got distracted by my "real" job, and promptly lost sight of the goal. Don't let that happen to you, if this is your goal.
What he doesn't address in his book (or maybe he did and I forgot) is that multiple streamns of income are not going to provide benefits you get from a company, like health insurance. If you're halthy and qualify for insurance (i.e. you have no pre-existing conditions), you're golden. If, however, you're like me, you'll be screwed. My wife suffers from muiltiple chronic illnesses that would leave us uninsurable if it weren't for state underwriting laws related to employment. My company has to cover me and my family. Places like eSurance and Aflack aren't required by law to take you on a s a client if you have a long history of costing insurrance companies money.
So before implementing a project liek the one described in the Four Hour Work Week, be sure you understand the full scope of what you stand to gain and what you stand to lose.
That said, there's no reason we can't do something part time to qualify for benefits through a company, and then replace the wage slave job we have with multiple streams of income.
Once you've performed a discovery project on the viability of implementing something like this, you need to figure out what kind of things you'll do to generate your multiple streams of income. I use Google AdSense. I have been a member for three years, and have my ads up on my web site, and on my blog. I will be getting my first check in two months because I still haven't made my first $100. Eventually it will start making a difference, and if I had enough sites and enough traffic and enough clicks, I could make a fortune. To develop that I would need a lot more sites, which cost money, and a lot more time to develop content.
Speaking of content, the bottom line of any revenue stream is what are you selling? I write eBooks that make me a lot more money than I've made on Google's AdSense. eBooks don't have to be long, they can be as short as 25 pages. You have total control over how it looks, which is a good thing if you know what you're doing, but can be a really bad thing if you miss typos. The key to success is repeat business, and if you write crap, no one will keep buying your stuff.
All this content development takes time. Time spent developing multiple streams of income detracts from time spent with your family or your current source of income. While there is a great potential return on investment available to you, the initial investment is your time and energy. Remember to take this into account when determining how you're going to implement a multiple stream of revenue income model in your life.
I find the best thing to do is to develop things one at a time. I spend two or three hours a week developing a source of income, and then I launch it. Then I turn to the next thing. the goal is to have everything add up over time. It takes a while. In a year or two, I may be earning enough from the little things to replace the wage slave job. Maybe not. We'll see.
I started on this process about three years ago. Then I got distracted by my "real" job, and promptly lost sight of the goal. Don't let that happen to you, if this is your goal.
What he doesn't address in his book (or maybe he did and I forgot) is that multiple streamns of income are not going to provide benefits you get from a company, like health insurance. If you're halthy and qualify for insurance (i.e. you have no pre-existing conditions), you're golden. If, however, you're like me, you'll be screwed. My wife suffers from muiltiple chronic illnesses that would leave us uninsurable if it weren't for state underwriting laws related to employment. My company has to cover me and my family. Places like eSurance and Aflack aren't required by law to take you on a s a client if you have a long history of costing insurrance companies money.
So before implementing a project liek the one described in the Four Hour Work Week, be sure you understand the full scope of what you stand to gain and what you stand to lose.
That said, there's no reason we can't do something part time to qualify for benefits through a company, and then replace the wage slave job we have with multiple streams of income.
Once you've performed a discovery project on the viability of implementing something like this, you need to figure out what kind of things you'll do to generate your multiple streams of income. I use Google AdSense. I have been a member for three years, and have my ads up on my web site, and on my blog. I will be getting my first check in two months because I still haven't made my first $100. Eventually it will start making a difference, and if I had enough sites and enough traffic and enough clicks, I could make a fortune. To develop that I would need a lot more sites, which cost money, and a lot more time to develop content.
Speaking of content, the bottom line of any revenue stream is what are you selling? I write eBooks that make me a lot more money than I've made on Google's AdSense. eBooks don't have to be long, they can be as short as 25 pages. You have total control over how it looks, which is a good thing if you know what you're doing, but can be a really bad thing if you miss typos. The key to success is repeat business, and if you write crap, no one will keep buying your stuff.
All this content development takes time. Time spent developing multiple streams of income detracts from time spent with your family or your current source of income. While there is a great potential return on investment available to you, the initial investment is your time and energy. Remember to take this into account when determining how you're going to implement a multiple stream of revenue income model in your life.
I find the best thing to do is to develop things one at a time. I spend two or three hours a week developing a source of income, and then I launch it. Then I turn to the next thing. the goal is to have everything add up over time. It takes a while. In a year or two, I may be earning enough from the little things to replace the wage slave job. Maybe not. We'll see.
Thursday, June 4, 2009
Brown Paper Bags
So there's this lady that makes these scrapbook things out of school lunch brown paper bags. She decorates them, folds them, cuts off the bottoms to make a little book, binds them somehow, with thread, I think, and makes these cool little crafty things and sells them on ebay. For $80.
WHAT!?!?!?
Ok, I'm always looking out for new ways to make money. I'm just that kind of guy. When I heard this apocryphal tale, I went right out to eBay and looked it up. Sure enough, there were these stupid brown paper lunchbag scrapbook thingies out there. I couldn't believe it. The ones out there weren't nearly as nice as the ones described in the anecdote, and they weren't selling for $80 either. They sell from $4.50 to $40.00 depending on the effort that goes into them, so I suppose it's possible that an elaborate one could go for $80 if it was beautiful and in high demand.
Shocking.
So here's the tale: This lady buys brown paper lunch bags, cuts the bottoms off in a special way thatleaves a flap ready for storing things. She puts in the stuff to make it into an album, and binds it using fancy thread. She puts calligraphied sayings throughout the book, and makes pockets and stores little treasures in the pockets. Altogether the thing costs her about $2.00-$5.00 to make, and then she sells it for $80.
Can you dig that? Now that's some Economic Fortitude.
WHAT!?!?!?
Ok, I'm always looking out for new ways to make money. I'm just that kind of guy. When I heard this apocryphal tale, I went right out to eBay and looked it up. Sure enough, there were these stupid brown paper lunchbag scrapbook thingies out there. I couldn't believe it. The ones out there weren't nearly as nice as the ones described in the anecdote, and they weren't selling for $80 either. They sell from $4.50 to $40.00 depending on the effort that goes into them, so I suppose it's possible that an elaborate one could go for $80 if it was beautiful and in high demand.
Shocking.
So here's the tale: This lady buys brown paper lunch bags, cuts the bottoms off in a special way thatleaves a flap ready for storing things. She puts in the stuff to make it into an album, and binds it using fancy thread. She puts calligraphied sayings throughout the book, and makes pockets and stores little treasures in the pockets. Altogether the thing costs her about $2.00-$5.00 to make, and then she sells it for $80.
Can you dig that? Now that's some Economic Fortitude.
Wednesday, June 3, 2009
Hot Real Estate in a Down Market?
So late at night, I'm up watching the paid advertisements, getting a feel for what kind of dreck is being foisted off on people who are looking for an honest profitable investment strategy.
I say "dreck" because the only person making millions on late-night advertising shows are the people selling their books and programs. The only reason they sell these programs is because it's more profitable to sell a million one-dollar get rich quick books than it is to try to get rich following the plan. Let's take a look at one scam: buying foreclosed houses and reselling them with instant equity and postive cash flow.
Let's say a house is up for auction from a bank. The house goes for $150,000 even though it appraises at 220,000. The buyer is responsible for any taxes owed, plus the new mortgage they've inherited. Here in Maryland, the legislators are kicking around the idea that they will give people a year to move out if their house is foreclosed or bought during foreclosure. That's great for them, but suppose you buy a house looking to make a quick buck. Are you ready to wait a year to be able to rent it out? Are you going to take the brunt of their damages to the property while they don't have to pay to live there? Are you going to pay taxzes on a house you can't make money off or renovate or maintain legally?
Hmmmm.... No.
And suppose you buy it cheap and the tenants move out. Great! Now you're stuck trying to sell it or rent it out. Here's a quick clue: Renting out properties never makes you an instant profit. It costs money to rent out property, even if your rent is paid on time. You won't be able to make money off the rent. You profit by covering the mortgage until the property value goes up and then resell it. You're looking at a 2-5% return on investment over 5 years. You aren't going to make much more than you would in a CD.
Unless you have the time to research the houses and find something rare. Remember, there were a million of those books on how to do this that were sold at a dollar, and every one of the people who also bought the book are trying to do what you are trying to do. Do you think you're going to be the one that finds the right property to make a fast profit?
Not likely. Save your money and find something better.
I found an opportunity flipping condos for a company in Florida. It looked brilliant. But then the economy collapsed and they're still trying to sell the same condos they had two years ago. I'm glad I didn't try to get into that market.
True Economic Fortitude means looking closely at the promises people are making, analyzing what you can do, and then making a wise decision at least two weeks after you hear the idea. Don't get sold. You'll just wind up being another sucker.
I say "dreck" because the only person making millions on late-night advertising shows are the people selling their books and programs. The only reason they sell these programs is because it's more profitable to sell a million one-dollar get rich quick books than it is to try to get rich following the plan. Let's take a look at one scam: buying foreclosed houses and reselling them with instant equity and postive cash flow.
Let's say a house is up for auction from a bank. The house goes for $150,000 even though it appraises at 220,000. The buyer is responsible for any taxes owed, plus the new mortgage they've inherited. Here in Maryland, the legislators are kicking around the idea that they will give people a year to move out if their house is foreclosed or bought during foreclosure. That's great for them, but suppose you buy a house looking to make a quick buck. Are you ready to wait a year to be able to rent it out? Are you going to take the brunt of their damages to the property while they don't have to pay to live there? Are you going to pay taxzes on a house you can't make money off or renovate or maintain legally?
Hmmmm.... No.
And suppose you buy it cheap and the tenants move out. Great! Now you're stuck trying to sell it or rent it out. Here's a quick clue: Renting out properties never makes you an instant profit. It costs money to rent out property, even if your rent is paid on time. You won't be able to make money off the rent. You profit by covering the mortgage until the property value goes up and then resell it. You're looking at a 2-5% return on investment over 5 years. You aren't going to make much more than you would in a CD.
Unless you have the time to research the houses and find something rare. Remember, there were a million of those books on how to do this that were sold at a dollar, and every one of the people who also bought the book are trying to do what you are trying to do. Do you think you're going to be the one that finds the right property to make a fast profit?
Not likely. Save your money and find something better.
I found an opportunity flipping condos for a company in Florida. It looked brilliant. But then the economy collapsed and they're still trying to sell the same condos they had two years ago. I'm glad I didn't try to get into that market.
True Economic Fortitude means looking closely at the promises people are making, analyzing what you can do, and then making a wise decision at least two weeks after you hear the idea. Don't get sold. You'll just wind up being another sucker.
Monday, September 1, 2008
Introduction
In this economy, we've got a lot of people scared. Last night's Bill Maher show had an economist on, and the economist was scared. I mean... scared. He had just lost a bundle. The privatization of Fannie May and Bernie Mac is an emergency step, a desperate attempt to stave off a complete and total depression.
One woman on the show wrote a book called the Shock Doctrine. In it, she hypothesizes that this kind of disaster is actually allowed to develop on purpose by the Republican Administration. A disaster is allowed to happen so that the government can allow provate companies, the friends of the McCaines, Bushes, and Cheneys of Washington, to profit immensely on the government's dime.
It makes sense to me.
However, I'm frightened. The Economist on the show says this bail out will move the debt from Wall Street where it was threatening the stock market to the government. The debt is the bomb waiting to go off, not where it resides. We aren't out of the danger zone of the next Great Depression.
That's why I'm writing this blog. In spite of the "we don't really know" mentality among economists, it doesn't take a rocket scientist to know we are living in dangerous times. People with a middle amount of money they've managed to save up don't want to end up in the soup lines, and that's where we're heading.
This blog is designed to provide my readers with strategies to not only make it through this dangerous time, but to come out on top when the dust settles. Those who remeber the Little Orphan Annie comics know that Daddy Warbucks made his money in the depression. I wouldn't mind ending up that way after this is all said and done.
Some of th things I'll be talking about are investment strategies. Finding places to put your money that are safe, that will weather the storm. I work in real estate, and I've got a couple of nice leads available for someone looking to make a profit now, and then a huge profit when the economy recovers. I've got a strategy I'll be outlining that takes advantage of the lowered value of the dollar compared to Asian currencies.
The point of this blog is to help others help themselves to the fortunes that are available in these down times.
One woman on the show wrote a book called the Shock Doctrine. In it, she hypothesizes that this kind of disaster is actually allowed to develop on purpose by the Republican Administration. A disaster is allowed to happen so that the government can allow provate companies, the friends of the McCaines, Bushes, and Cheneys of Washington, to profit immensely on the government's dime.
It makes sense to me.
However, I'm frightened. The Economist on the show says this bail out will move the debt from Wall Street where it was threatening the stock market to the government. The debt is the bomb waiting to go off, not where it resides. We aren't out of the danger zone of the next Great Depression.
That's why I'm writing this blog. In spite of the "we don't really know" mentality among economists, it doesn't take a rocket scientist to know we are living in dangerous times. People with a middle amount of money they've managed to save up don't want to end up in the soup lines, and that's where we're heading.
This blog is designed to provide my readers with strategies to not only make it through this dangerous time, but to come out on top when the dust settles. Those who remeber the Little Orphan Annie comics know that Daddy Warbucks made his money in the depression. I wouldn't mind ending up that way after this is all said and done.
Some of th things I'll be talking about are investment strategies. Finding places to put your money that are safe, that will weather the storm. I work in real estate, and I've got a couple of nice leads available for someone looking to make a profit now, and then a huge profit when the economy recovers. I've got a strategy I'll be outlining that takes advantage of the lowered value of the dollar compared to Asian currencies.
The point of this blog is to help others help themselves to the fortunes that are available in these down times.
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