Year: 2021

Categories
Projects Programs and Portfolios

Building Project, Program and Portfolio Management Capabilities

Project Management
890 Views

In modern times, organizations must oversee projects within ever more complicated environments, ones that are motivated by regulatory changes and business restructuring. Effective project management professionals are able to realize projects under these challenging conditions. To do so, they must employ successful project management practices. Here’s how to build project, program and portfolio management capabilities. Keep in mind that insights and trends may have an impact on your processes.  

About Project Portfolio Management 

Project portfolio management (PPM) is a practice in which a company’s projects are assessed and put in place in a way that aligns with the organization’s goals. With PPM, a company’s executive team, project supervisors, regular team members and stakeholders receive an extensive view of the organization’s projects. This includes how every participant plays a role in the company’s directives and intentions. 

With this information, project managers gain insight into the company’s possible returns and potential risks. When an organization uses PPM, those in charge will separate the company’s projects into different groups according to importance and how they connect to one another. 

The organization’s programs and projects should be a part of a portfolio strategy, one overseen by the company’s portfolio management professionals to make sure that it meets the organization’s goals. PPM should also align the company’s implementation techniques with how it manages projects, creates policies and develops processes. 

What are PPM’s Benefits? 

PPM benefits include: 

• More project transparency 
• Better capacity planning 
• Improved productivity 
• Increased dexterity 
• Higher return on investment (ROI) 

Project Transparency 

PPM increases a company’s successfulness. When you embrace PPM, your organization will have clear goals. It will also be able to take advantage of big-picture thinking. PPM allows your staff to accomplish goals and understand how different projects, programs and portfolio management are linked to the company’s vision and general purpose. 

Better Capacity Planning 

Capacity planning depends on how effective project management professionals implement a company’s strategies and connect its resources to its goals. One of the biggest problems that most organizations face is wasting resources. Companies that embrace PPM are less likely to waste resources because they can make sure that they are distributed according to importance and properly implemented to reach the organization’s goals. 

Increased Productivity 

When project managers convey the importance of developing value, they are more likely to improve an organization’s productivity. Team members who understand how their jobs help a company reach its main goals typically work harder. They also focus more on the quality of their work. 

Boosted Dexterity 

Companies that align project tasks with implementation tend to be more dexterous. The alignment makes it easier for project managers to handle change and shift according to any opportunities that may come up or problems that arise. 

Higher ROI 

When an organization’s goals are clear and understood by every employee, resource management improves. This boosts productivity and dexterity. PPM improves a company’s ROI in all of its projects. By using PPM, an organization’s investments will be more beneficial. They will also put the company on more sound footing going forward. 

An Example of How PPM Works 

Let’s say that your company has 30 projects in the hopper. Each one overlaps since some have been ordered by the same customer, and your company is using the same resources to develop all of them. Some of the projects will cover your organization’s overhead while others may bring in more clients. You may even have projects that you’ve agreed to perform to develop new products or services. As a project manager, how can you make sure that you’re focusing your staff and their tasks on the right objectives? Ask yourself a few questions.

• Is the idea a good one?
• Is this something that we should be doing as an organization?
• What is the best way to concentrate the organization’s resources most efficiently?
• What projects take priority?
• How can the company manage the different projects concurrently while turning a profit? 

PPM will help you answer these questions. When an organization is large and has various competing projects along with priorities that pull its resources into different directions, effective PPM helps project managers avoid making poor decisions that result in a negative ROI. 

What Else Does Projects Programs and Portfolios Management Offer?

Project, program and portfolio management also offers you more success when it comes to project delivery. You’ll find it easier to prioritize critical projects, and it will help you avoid spending too much while eliminating inefficiencies. 

Projects almost always run the risk of causing an organization to overspend. With PPM, you’ll be able to spot overspending fast and curtail it. PPM reveals where and how resources are being wasted. 

PPM helps companies with organizational change management. When you have a good PPM in place, your company can make changes and improve how it completes projects. You can take advantage of this by making changes to your organization’s overall direction. 

Consider a Different Approach to Manage Insights and Trends 

These days, many companies are switching to a digital format. This allows you to decrease how much you’re spending for on-premises infrastructure. However, you’ll need to increase your spending on off-premises operations and advanced technologies. To accomplish this, portfolio management professionals will need to work with business leaders and resource supervisors to balance funds over various internal and external operations. 

These changes are forcing organizations to track work tasks in real time. Project delivery also needs to be faster and more flexible, so you may need to invest in portfolio management software. This helps project managers plan, implement and track the progress of different projects. 

Management Support  

Projects programs and portfolios are complex areas of business management. With the right tools, you can implement PPM effectively. If you need support, contact me at the Productivity Intelligence Institute. 

Categories
Agile Leadership

Agile Leadership In Transportation

1,058 Views

Predictability through improvisation – what project management can learn from jazz.

Rob Tieman is the Director of the Project Management Office at the Virginia Department of Transportation. Gerald Leonard is a Strategic PMO Advisor for the government, Juilliard-trained musician, and author of Workplace Jazz.

Together with Pete, they explore how insights from jazz have helped improve project predictability and workplace culture.

Workplace Jazz
One of This Year’s Top 10 Must-Read HR Books

Order Today

Categories
Increase Productivity

Future of Work: Productivity Trends 2022

1,381 Views

The future of work is all about change, and it’s time to recognize that “normal” is no longer a thing. While new companies and startup organizations usually embrace the notion of constant change, major enterprises around the world are discovering that they must do the same. For instance, companies like Shopify, Twitter and Facebook confirmed that they are establishing permanent policies that let people work from home, which is a big shift from how they used to operate. Here are four workplace trends for 2022. 

1. Hybrid Workplace Opportunities 

In 2022, it’s going to be more common to see hybrid work opportunities that allow employees to choose from three main work environment models. These will be traditional workplaces, remote options and a combination of both. The big thing that will change for employees is that they’ll be able to choose whether they work from home, at the office or go hybrid and do both. 

Companies are starting to shift away from a traditional office setting that involves a centralized workplace. When the pandemic was at its most extreme in 2020, an estimated 69% of large companies predicted that they would be decreasing how much office space they needed. 

Hybrid models will vary from companies keeping some permanent central offices that feature hot-desking to allow for employees who will be working remotely more often to eliminating office space completely and using co-working offices and rentable meeting rooms that they can use to support their remote staff members. 

According to a report published by PWC, technology developments will change the way that people work during the next five to 10 years. Demographic shifts will also transform how people work as will climate change. 

In 2022, companies will start to reveal their stances on political and societal issues. They’ll be doing this because workers are starting to want to work for companies that share their values. This sentiment has been growing for a while, but during 2020, it grew even more. According to an article published by the Harvard Business Review, around 74% of workers believe that their employers will involve themselves in current cultural debates. 

2. AI Assistance 

The World Economic Forum issued a report stating that by 2025, AI and automation will bring about the development of 97 million new jobs. Along with this, many people will see change in their current roles. AI and automation will enhance the abilities of workers. 

At first, companies will use AI to automate a job’s repetitive elements. This will let your staff focus on tasks that require human thinking such as creativity, high-level strategies and emotional intelligence. For instance, a lawyer may use advanced technology to review case histories and search precedents. A doctor will use it in a similar way to review medical records while in the retail industry, managers may use technology for inventory planning. Technology will increase productivity and improve worker experience. 

People will begin moving away from the idea that a person learns one profession and works at one company where he or she remains until retirement. Workplace trends for 2022 include trying several different occupations throughout one’s life. In fact, there are even scholarships available for adults who are returning to college.  

3. A Bigger Focus on Skills 

Instead of focusing on people’s roles, company’s will look to increase productivity by focusing on the skills of their workers. You’ll want to hire people who have the skills that you need to manage core business challenges as well as the competencies that you need to conquer them. 

Many businesses have already started this trend by shifting away from hierarchical teams to organizational structures that are basically flat. They are implementing a direct reporting approach to solving problems and communicating. When you focus on skills instead of roles, you’ll be supporting innovation and driving your company toward success. 

On the employee side, working toward skill development instead of a company’s role puts them in a better place to take advantage of new career opportunities. The switchover from prioritizing skills over roles is looking to be a trend for both companies and employees in 2022.  

4. Additional Monitoring and Assessing 

While it may be controversial, work trends show that companies are starting to use technology that will help them monitor and assess the effectiveness of their employees. They’re using this information to increase efficiency. Aware is a program that lets companies monitor employee behavior over email while Slack allows them to track productivity. These types of platforms make it easier for managers to oversee remote workers. 

Some programs let companies track how often people are going to the bathroom and who spends the most time chatting with their coworkers instead of being at their workstation. If used to intrude on worker behavior, this type of platform could be harmful, but if you use it just to get a broad view of how people are spending their time, then it could be helpful.

A workplace trend in 2022 will be to offer mental health support. The pandemic has revealed that people need mental health assistance, which is encouraging companies to provide it since they are now seeing that good mental health is good for the workplace.  

The Future of Work 

The way that people work is everchanging. With new developments, people can do their jobs more efficiently and effectively. If you need help guiding your staff through changes like a hybrid workplace or advanced technology, contact me at the Productivity Intelligence Institute. 

Categories
Entrepreneurship

Are entrepreneurs born or made?

1,113 Views

These days, entrepreneurs and self-employed people have become the latest business buzzwords. If you’re not a business owner, how does this talk apply to you? Even if you never plan to start your own business, developing an entrepreneurial spirit can enhance your productivity at work. It can help you develop the leadership skills you need to propel your company and your career to greatness.

What Is an Entrepreneurial Spirit, and How Can It Work for You?

Although many people talk about a particular “entrepreneurial” personality, it’s not clear there is such a thing.

According to Harvard Business School Online, no specific personality profile leads to success as an entrepreneur. There are, however, some personality traits that are characteristic of successful entrepreneurs. They include:

• Curiosity
• Team management
• Adaptation to change
• Willingness to take risks
• Decisiveness
• Persistence

The good news is that those same characteristics will make you successful in any career. They’re what lead to success in team leadership and project management.

What Does Science Say?

Scientists and sociologists have grappled with the question, “Are entrepreneurs born or made?” In recent years, some researchers have claimed there is an “entrepreneurial gene,” and that successful self-starters share this gene. That intriguing idea, however, has been roundly criticized by other researchers, who say opportunity and training are the keys to success. 

In 2009, Cambridge University scientists developed what they called an “entrepreneur drug” that used brain chemistry to help people develop the mindsets of successful self-starters. They said the drug helped people improve their ability to tolerate risk and their level of cognitive flexibility. Cognitive flexibility refers to the ability to produce a new solution when the first one fails. 

Train Your Brain for Success

While we still don’t have a drug that will make you a productivity superstar, there are things you can do to keep your mind healthy and focused. In an article for Forbes, Travis Bradberry writes that people with high levels of emotional intelligence (EI) were more professionally and financially successful than their counterparts. These people have several habits that set them apart. Typically, they:

• Ignore fearful thoughts. Uncertainty causes fear, and fear of the future can make you do foolish things. When you react from fear, you’re not making smart decisions.

• Cope well with stress. Staying positive, managing uncertainty and embracing what you can’t control are all parts of managing stress. If this sounds like mindfulness, it is remarkably similar. A mindful approach will always help you deal with stress and focus on being productive.

• Act decisively. This is one characteristic of successful entrepreneurs that people with high EI share. The ability to make decisions is key to moving forward.

How To Develop an Entrepreneurial Mindset: 4 Action Steps You Can Take Today

1. Discover opportunities for entrepreneurship

According to the Harvard Business Review, one definition of an entrepreneur is a person or team who actively looks for opportunities for innovation. 

You don’t have to start a business to develop this mindset. Look around at your current workplace. Can you find ways to streamline your operations? Are any of your team members ready for more responsibility? Discover opportunities for growth where you are.

2. Develop entrepreneurial skills

Were you born with the skills most entrepreneurs have? If you weren’t, can you learn them? Many studies and business experts agree that you can.

A 2010 study found that there was no “prototypical personality” that went with being a successful entrepreneur. The study concluded, “The focus of entrepreneurship education and training programs should be skill development, not behavior modification.” 

In a 2013 study of entrepreneurial skills, researchers found that the biggest predictor of success was having a varied set of work experiences. This was even more important than education qualifications or years of experience. 

What does this mean for you? It suggests that successful entrepreneurs take everything they’ve learned from their life experiences and use that knowledge to face challenges. Think about your own past experiences. What have they taught you about how to face the future, overcome obstacles and make tough decisions? 

3. Cultivate luck

There’s no denying that luck plays a role in many people’s success. There’s also no denying the old saying, “Luck is when preparation meets opportunity.” 

You can cultivate luck by preparing yourself to meet it. Most people understand this preparation to mean being sure you have the skills, training, experience and willingness to take advantage of an opportunity. In the book Heart, Smarts, Guts and Luck, the authors say that anyone can learn the components of luck. That’s the combination, they say, that makes someone a successful entrepreneur.

How do you do this? According to co-author Anthony K. Tjan, you do it by focusing on your inner passion, your skills, your courage and your mindset.

4. Hire the right people

In an article for the Harvard Business Review, Dan Bricklin, the creator of VisiCalc and founder of Trellix, talked about his life as an entrepreneur. Among his insights, he stressed the importance of hiring people to help you manage the increased demands that go along with growth:

“If these aren’t your talents, you may need others to step in, for instance, to swim in the details of running the operation, to build strategic partnerships, to set financial priorities or to make the trains run on time.”

Are you surrounded by the right people? Use your position as a team leader or project manager to make sure everyone has the right role.

Cultivate Opportunities To Enhance Your Entrepreneurial Side

It’s important to develop your entrepreneurial skills, even if you never plan to start your own business. Look around for opportunities to innovate, lead and inspire your team. Cultivate the skills you need to be more productive every day.

Are you ready to fire up the high-productivity entrepreneur inside you? Contact the Leonard Productivity Intelligence Institute. We can help you develop the skills you need to power your productivity.

Categories
Uncategorized

How Artificial Intelligence will Change the Future

Change the Future
1,007 Views

From cars that drive themselves to the ability to lock your home after you’ve left, artificial intelligence, or AI, has advanced quickly. It’s transitioned from something only imagined in sci-fi movies and books to a reality. Scientists from the University of Oxford have been researching artificial intelligence, and they’re predicting that by 2024, the technology will surpass humans in translating languages. They also believe that by 2026, it will be writing school essays. This is how AI will change the future. 

1. It Will Decrease Mistakes in Healthcare 

An estimated 86% of the mistakes that occur in healthcare are preventable. AI will start tackling this problem in the future. As the healthcare industry begins using AI more, medical treatments will become more affordable and more accurate. When AI and predictive analytics are used together, medical professionals will gain a better understanding of how different factors, such as local air pollution levels, birthplaces and eating habits, can impact someone’s health. 

With this information, AI-managed healthcare systems will have the ability to predict when someone is most likely to be affected by a chronic disease and offer preventative measures to offset it. Technology experts can enhance AI with large amounts of data. AI algorithms operate better when they receive continuous data.

In learning, there is a connection between neuroscience and AI, which is that both aim to understand the workings of the brain to predict behavior. Better AI technology can be developed with a better understanding of how the human brain functions. 

2. It Will Improve Banking 

The IHS Markit’s AI in Banking report states that by 2030, the worldwide business value of AI in the banking industry will reach $300 billion. AI is ready to make its way into the banking spotlight within the next 10 years or so in areas like security and business intelligence. When it does, it will decrease costs, increase productivity and improve customer experiences. 

One of the benefits of artificial intelligence is that it will help power Robo Advisors in the financial sector. In fact, they will become a familiar feature in the future. Robo Advisors will save space and time. Banks in the future will not only customize their products and services, but they will also personalize a customer’s experience. An example of how this would work is that when you walk into a bank for service in the future, a teller would greet you by name and have access to your banking history without you needing to provide an identification card. 

3. It Will Impact the Environment 

AI is in place to have a positive impact on climate change, environmental problems and sustainability. With the use of high-tech sensors, cities will experience less congestion. They will also become less polluted and transition into more livable environments. Car sensors will be able to transmit data about current traffic conditions to predict issues and improve the stream of cars on a roadway. 

4. It Will Improve Retail 

According to a retail study by Capgemini, if retailers implement AI throughout their business operations, it has the potential to save them more than $340 billion by 2022. The benefits of artificial intelligence include helping retail managers make better decisions. In the future, a consumer will receive a small package just 30 minutes after ordering it from the help of an AI-managed drone. 

Amazon is currently taking steps to safely and reliably deliver packages using drones, but the company is still working on the process. Within the next 10 years, you can expect to receive packages delivered via drone. 

Along with drones, the retail world will be able to use AI to develop virtual racks that are personalized based on a person’s data-described image. The future of the retail industry will include customization according to a person’s previous history. The great thing about this is that it will make it easier and less stressful for people to make purchases. 

5. It Will Enhance Entertainment 

Instead of binging with Netflix, in the future, you’ll be able to settle in on the sofa and order a custom movie starring virtual versions of your favorite actors. AI may also help film studios release movies that won’t flop. Studios will be able to use advanced predictive programs to review a film script’s storyline and forecast how it will perform at the box office. 

6. It Won’t Make Human Workers Obsolete

When you consider how often Hollywood makes AI the bad guy in sci-fi movies, it’s understandable that many people are worried that the technology will make them obsolete in the workplace. While it is true that advancements have taken over jobs that people used to do, it’s more likely that AI will inspire innovation that will create new growth sectors. This will result in more jobs being created, making it the future of work. 

AI has improved its ability to mimic the effectiveness of human intelligence when completing some jobs, but the technology continues to face limitations. For instance, AI programs are generally only able to perform specialized intelligence. This means that they can handle only one thing at a time. They can also be inflexible and unable to react to input changes or perform any actions that aren’t a part of their programming. 

An intriguing fact about AI is that the technology is being used in more ways than most people know. These days, it’s being installed in smartphones and even chatbots. This shows how the advanced technology is merging into people’s everyday lives instead of taking over their jobs. 

Artificial Intelligence Will Change How People Work 

The future of work will include AI. From healthcare to banking, most industries will benefit from embracing this type of technology. At the Productivity Intelligence Institute, I can help you implement AI into your company and offer guidance on how to use it in the workplace. Reach out for more information today. 

Categories
Artificial Intelligence

How Does Deep Learning Work?

Deep Learning
1,149 Views

From a young age, human beings can quickly identify objects and sort them into classes. Think of the different makes, models and colors of four-wheeled vehicles that you can almost immediately classify as cars. Consider the wide variety of cats and dogs that you can identify at a glance. In less than a second, your brain interprets visual data and performs a complex synaptic process to draw a conclusion.

Today, computer scientists are working hard to recreate this process in the digital world. AI technology can sift through vast amounts of data to find patterns, recognize objects, and make predictions. The latest trend in AI involves creating artificial neural networks and training through a process known as deep learning. IT professionals who learn how to work deep learning in Python will have a powerful, in-demand skill.

Artificial Intelligence and Deep Learning

Artificial intelligence technology involves any method that allows a computer to mimic the mental processes of human beings. Computer programs that use AI empower everything from astronomy research to smart home thermostats. In many cases, the decision-making power of AI derives from complex algorithms and large sets of sample data. 

Deep learning comes from neuroscience research. Computer scientists have looked at how neurons connect and communicate to create small-scale, digital replicas of thought patterns. Computers that use deep learning take less time to train and have an increased potential to find unexpected connections within data sets. 

How does deep learning work?

An artificial neural network works by passing information through a series of layers of digital neurons. The process starts with the input layer. This first step is akin to your eyes, ears and other sensory organs that pass information about stimuli to your brain. 

Next, the data travels through the hidden layers. The number of hidden layers in the program determines the complexity of the calculation. Each digital neuron involves a weighted value based on the importance of the data. A program devoted to predicting inventory would give greater weight to an item’s past sales performance than the day of the week when it was sold.

Finally, the output layer returns the calculated result. This answer could be as simple as identifying the presence of an object like a car, dog or cat in a picture. However, this learning approach can also handle challenging problems like predicting the weather or choosing the right ad to display on a social media feed. 

Machine Learning Applications in the Business World

When people hear about neural networks and artificial intelligence, they assume that these resources only apply to the world of science and technology. However, AI and deep learning are having an impact on industries across the board. Automation, prediction, and pattern recognition can all improve a business’s performance and workflow.

Process Automation

Every business has repetitive processes. Robotic process automation can handle straightforward tasks like sending email reminders before appointments. However, RPA combined with a deep learning strategy can refine this automation. Considering data such as purchase histories and address information can improve the click-through rate of emails.

CRM

Applying deep learning to customer relations will improve connections. The AI resource can send alerts to a sales team when it predicts that a customer may need attention.

Customer Service

Deep learning can bring predictive pattern recognition to customer service issues. The AI behind the service portal will recognize patterns of keywords to make a faster diagnosis of the problem. If the chatbot cannot handle the issue, it can connect the customer to the right human employee in fewer steps. This process will minimize frustration for the customer.

An Entrepreneurial Strategy for Employing AI and Deep Learning Tools

Introducing AI can be intimidating for your employees. Because this technology imitates human decision-making, they may feel that the digital resources will replace them. With a thoughtful strategy, you can bring the computing power of deep learning in a non-threatening way that enhances and improves your workplace culture.

Determine the Best Use Cases

Digital automation and decision-making free your human employees to handle more relevant tasks. As you introduce the new technology, get input from your staff about daily jobs that are critical but repetitive. Your employees will appreciate a resource that can take these off their plates.

Identify Data Sources and Quality

Garbage in; garbage out. This mantra from the world of computer science indicates the importance of quality data. Successful deep learning depends on having information that is relevant and accurate. 

Empower the Team

AI requires significant processing power. You will need to evaluate your hardware to confirm that it is up to the task. It will also help to have someone with a deeper understanding of the technology. You may want to invest in training in skills like how to work deep learning in Python.

Understand the Limitations of Technology

Your AI resources are like any other employee. They require oversight and evaluation. Their performance is only as good as the algorithms that form their decisions. Improperly weighted calculations in the hidden layers can lead to skewed results. Running tests cases with known outcomes can help recalibrate the system.

Working with a Partner to Implement Change

How does deep learning fit into your business’s future? Moving from traditional to innovative technology requires an adaptable workplace culture. If you need help transitioning to a new model, I can help you move forward in ways that benefit your whole organization.

Categories
Creating High-Performing Teams

Creating A High-Performance Team Through A Healthy Workplace Culture

Creating A High-Performance Team
909 Views

For companies to create a healthy culture, they must have good leadership. When good leaders are in charge, they hire the right people to form high performing teams. Companies with teams that perform well achieve top results. Here’s how to build a high performance team through a healthy workplace culture. 

1. Establish a Clear Vision 

Teams that perform at a high level know what their goals are and what they want to achieve. They have: 

• Focus 
• A particular set of priorities 
• Purpose 

High performing teams set goals for individual members and the team as a whole. These goals support the company’s mission statement and vision to ensure that their work drives success. As a project manager, you can create a high performing team by making sure that goals are aligned and clearly expressed. 

Developing high performing teams requires project managers to understand how people operate at a biological level. The popular saying “There’s no I in team” is essentially wrong. Every person comes with his or her own thoughts, ideas, perspectives and skills. These attributes impact how a team operates. 

2. Know Your Company’s Core Values 

How to build a high performance team? Know your company’s core values. An organization’s principal values reveal its heart. When you know and honor your company’s core values, you’ll be able to support its mission. Popular core values include: 

• Collaboration 
• Integrity 
• Trust 
• Respect 

A healthy company culture considers and continuously embraces its values during every interaction. On your part, it’s important to demonstrate them during meetings, when holding one-on-one sessions and in written communication. 

These days, technology has made it possible for you to work with your team virtually. While this is convenient, keep in mind that the human brain is meant for in person interactions. The brain reads another person’s meaning and intentions by noticing tiny changes in their body, face and even pheromones. This information is lost when you communicate with them using technology. Even if you’re using a video, you won’t be able to pick up on everything that you would in person. 

If the current state of the world has you and your team still working from home, try to connect with them in person occasionally. Meet up for lunch, dinner or coffee to touch base and support team relationships. 

3. Be a Leader Who Adds Value 

When leaders serve those on their team as well as their company’s customers, they add value. As a leader, be sure to appreciate the talents of those you work with. Encourage your team and make sure that they’re okay. Leaders who genuinely care for their employees support a healthy work culture. 

A leader who pays attention to and knows about the personal lives of others will be able to connect with people on a deeper, more powerful level. Not only will this leadership quality impact how your employees see you and how they work with one another, but it also allows you to connect better with your colleagues. 

Add value to your team by asking members how things are going at home. If you know that they went on vacation recently or that someone in their family has been ill, then ask them about it. When you show an interest in people, you can build a connection with them that often extends to how well they perform their work tasks. 

When you make an employee feel appreciated for completing a work task, it triggers neurotransmitters in the brain and releases dopamine. The release of dopamine floods the body with a feeling of pleasure. Over time, people start to connect the work task with the feeling of pleasure. 

4. Listen to Your Staff and Colleagues 

You’ll do your part to support a healthy work culture by being a leader who listens. Good leaders offer resources to their workers. They also give them a voice. When leaders turn to fear and threats to push their staff to work better or harder, they usually end up increasing employee turnover and causing the company to spend more to hire and train new employees. 

Effective leaders embrace active listening. This means paying attention to what another person is saying to you and responding with phrases that let them know you are hearing them. For instance, you could respond with something like, “I understand what you’re saying. Let’s see what we can do.” 

Be sure to tackle communication with compassion and understanding. Every human has a need for others to hear and understand them. Keep in mind that it’s a privilege to guide others, and as a leader, you are the one who sets the tone for your company’s culture. Value your staff and know that many of the work decisions you make impact their lives. The most important company asset is its people. They are the ones who keep it running well or operating poorly every day. Make sure that your team is helping it run well.  

Creating a high-performance team involves understanding a bit about brain science. There is compelling evidence that trust, inclusion and objectives impact a team. This means that you can facilitate the right conditions to support sincere collaboration within the team and create a group of people who work well together. 

5. Think Empowerment and Engagement 

Companies that have a healthy workforce culture believe in empowering their employees. They make sure that the people who work for them have the proper tools, skills and training to use their own good judgment to make work decisions. Research has found that when employees feel empowered, they experience higher engagement levels. 

A Healthy Workplace Culture Creates High Performing Teams 

Creating a high-performance team requires a healthy workplace culture. Support and develop a healthy workplace culture by adding value as a leader, empowering your employees and establishing a clear vision. For additional direction, contact me at the Productivity Intelligence Institute. I can help.

Categories
Actionable Insights

Turning Customer Feedback into Insight

Customer Feedback
934 Views

An important part of management is putting customers first. Doing so improves customer experience and increases profits. To put customers first, you’ll need to make decisions about what to offer and when to offer it. The key to determining this is to find out what they want. Once you know, you can turn customer feedback into actionable insight. 

About Customer Insights 

Customer insights are an analysis of measurable and accumulated data that’s been collected using consumer feedback and other informational sources. Once you have this information, you can use it to make informed business decisions. The goal of using customer insights is to pinpoint behavioral trends to assist your company’s advertising efforts, sales numbers and customer service strategies. 

What are the Best Ways to Obtain Actionable Insights?

The best ways to obtain actionable insights include: 

• Customer surveys 
• Social media interactions 
• Online reviews 
• Third-party data 
• Real-time testing 

Customer Surveys 

Net Promoter Score, or NPS, surveys make it easy to ask your customers about your services or products. You can post surveys on your website or send them to your customers directly via email or text message. You can even create them as an interactive form that you offer during special events. 

Social Media Interactions 

Another good place to go for actionable insights is social media. Keep your company’s social media pages active and current. Be sure to post relevant information and images that will appeal to your customers. If people ask questions using your social media pages, do your best to answer them. Be sure to assess your company’s social media interactions alongside the things that your customers are saying about your products or services on appropriate forums and websites. 

Online Reviews 

A great place to obtain customer feedback is from online reviews. Download analytics solutions software to help you evaluate online reviews and transform them into actionable insights. You can even check the online reviews that your competitors are receiving for a different angle. After collecting this information, upload the data into your software for an analysis. Compare the results for better product or service development. 

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Third-Party Data 

If you don’t have enough customer feedback for insights, obtain more through market research collected by third-party organizations. This information will give you an understanding of your industry’s current customer trends. Use it to identify the issues that your customers are experiencing. With third-party data, you can create better advertising campaigns, come up with fresh products or services and provide great customer service. 

Real-Time Testing 

With apps, online experiences and websites, you can obtain actionable insights about the needs of your customers using real-time testing on particular areas of their platform experience. Testing lets you see how your consumers are interacting with your platforms. For instance, you’ll be able to see how easily they’re able to navigate your system and find what they need. 

Why Do Companies Need Customer Insights?

Customer insights will help you determine what issues your consumers are having with your services or products. Quantitative numbers obtained from direct data will help you figure out what types of issues are happening while qualitative information from your customers will tell you why. 

Tricia Wang, a renowned global tech ethnographer, which is a specialized area in the anthropology field, gave a memorable TED talk. During it, she pointed out that billion-dollar big data industries are unable to be effective without qualitative human insights. When she held a research position for Nokia, she watched the telephone company fail because it didn’t listen to its customers. You can learn from their mistakes. 

Gathering both quantitative and qualitative information is critical to making the most from your consumer feedback, but make sure that what you’re gathering is something that you can take action on. 

Keep in mind that when companies embrace a strong feedback culture, they accept and act on feedback from their employees, which usually results in a positive work environment. Businesses often see higher profits when they listen to their workers, so employ actionable insights with them too. 

A Different Approach to Actionable Insights 

These days, project managers are searching for different ways to collect actionable insights. They want more than just numbers from traditional surveys. The landscape is complex and so are consumers. Getting to the heart of customer behavior and what motivates them requires a multilayered approach that includes several methods. When you take an actionable insight to this level, you’ll be making it easier for your customers to make decisions using better information. This results in improved customer experiences. It also decreases buyer remorse. 

Neuromarketing is an approach that many companies are using to gain insight into the motivations of their consumers. Neuromarketing is the process of considering physiological and neural signs to obtain insight. Advertising experts can use this information to develop better advertising campaigns, improve products and set up more attractive pricing. 

Brain scanning and physiological tracking are the most popular ways to gather information for neuromarketing. Brain scanning measures neural movements while physiological tracking measures eye movement and other areas. 

Academic studies have found that brain information can forecast the potential of products more accurately than traditional advertising tools like focus groups and surveys.  

After Collecting Data 

To make feedback insights actionable, be sure to categorize the information, assess the data and review the root causes. Categorizing the data will help you convert it into quantitative insights. Assessing the data will help you reveal insights about it while reviewing the root causes will help you determine if your products or services need updates. 

Increase Profits with Actionable Insights 

Actionable insights will help you increase profits by showing you how to improve your products or services. If you need help reading the data, then contact me at the Productivity Intelligence Institute. I would love to work with you.

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Artificial Intelligence

How Artificial Intelligence Is Transforming The World?

Mechanized Industry Robot And Human Worker Working Together In F
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Harness the Power of Artificial Intelligence to Boost Your Productivity

Advances in artificial intelligence (AI) have transformed today’s workplaces. A recent report in the Harvard Business Review found that AI has become “mainstream technology” in over 80% of businesses, and 55% of companies sped up this trend during the COVID-19 pandemic. Artificial intelligence benefits companies by automating routine tasks. Used correctly, it can help your productivity soar.

Beyond Routine Tasks

These advances are not limited to mundane, routine tasks. Artificial intelligence examples now include advanced processors that can automate even high-level customer service, marketing, and healthcare tasks.

Scientists are working on ever more sophisticated ways to combine what we know about AI and neuroscience. They find that advanced AI processors can emulate the way the human brain works. According to one report, “As AI takes enables neuroscientists to obtain further insights into how computation works in the brain, the effort might lead to machines that can take on more human-like intelligence.”

Do You Fear the Future?

The transformation of our workplaces can seem like a terrifying scene from a science fiction movie. Are highly intelligent robots really going to take over our workplaces?

Anxiety about future changes isn’t abnormal. In fact, according to a study of neuroscience by the American Psychological Association, some people’s brains are more wired to view the future with fear than others. These people are more prone to anxiety and more likely to view “uncertainty and ambiguity” as threatening.

Knowledge Is Power

Does that mean you’re doomed? Not at all. The researchers also said this anxiety reflects “a desire for predictability,” which means your fears will be lessened if you know what to expect. In other words, knowledge is power, and power makes you productive.

Knowing how to position yourself for an AI future will help you grow as an employee, business owner or project manager. Here are some steps to success you can start adopting now.

This course is designed for Project and Program Managers, PMO Executives, Decision Makers, Consultants, Executives and project team members who have been tasked with oversight, implementing and the operations of their organization’s Portfolio Management capability

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Artificial Intelligence Benefits: 5 Steps to Success

1. You don’t have to go big

One mistake many people make is thinking a new technology means making a radical transformation to their work processes. In fact, studies of major corporations and small businesses have found that the major benefits of AI come from smaller initiatives.

Some of the best artificial intelligence examples use AI to handle routine tasks. Using an artificial intelligence robot to answer emails, transfer data, and read standard documents is a huge timesaver. It frees executives to concentrate on more creative, “big” ideas. If you can delegate routine tasks to AI technology, do it and watch your creativity reach new heights.

2. Understand the technology

Understanding which types of software perform specific tasks is essential to getting the most from any new technology. There are three types of AI.

Process automation: This is the most common type used in businesses. It uses robotic processing to complete routine tasks like entering data, reconciling billing systems, or reading legal documents and standard contracts.

Cognitive insight: Powered by machine learning, this process uses algorithms to detect behavioral patterns in the way people use data. It can process huge amounts of information to, for instance, predict what a particular customer is likely to buy, direct targeted advertising, or provide accurate actuarial predictions.

Cognitive engagement: This is the least common and most complex way to use AI. One example is an artificial intelligence robot that can solve customer service issues, answer standard employee questions about benefits, and supply product recommendations to retailers in ways that enhance customer engagement.

3. Get expert help

The first step is to identify which processes you want to automate. Robotic processors and deep learning systems each solve different problems. Which are most pressing to you? Understanding what you need is the first step in understanding what kind of technical help you need. Consult your in-house IT team or a software consulting company to get some clear ideas about how to get started.

4. Learn from the best artificial intelligence examples

You don’t have to start from scratch. When you think about ways to enhance your productivity, learn from others who have paved the way. The biggest companies and brightest scientific minds in the world have developed amazing ways to use artificial intelligence benefits. Reading about these will spark ideas you can use.

5. Prepare yourself for change

According to an analysis by the McKinsey Institute, about half of all workers’ tasks could be automated. This affects routine physical work, but it also applies to higher-level, skilled work. The same report found that this will displace more than 400 million workers.

At the same time, artificial intelligence creates new jobs. Millions of new jobs may soon exist in areas like healthcare, infrastructure, and technology. How do you prepare yourself to meet a challenge that could affect your job or business? If you’re prepared to adapt to these changes, you’ll get ahead of the trend and secure your future. Develop your skills now to be in a solid position for the future.

Change Presents Opportunities

The future may be filled with possibilities, but knowing how to make the most of them can be difficult. The more you can predict the challenges you’ll face, the better you can position yourself to meet them.

At the Leonard Productivity Intelligence Institute, we help clients face all their productivity challenges. Contact us if you want expert guidance on any aspect of your work life. Our team can help you prepare to meet the future with strength and a sense of purpose.

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Artificial Intelligence

What is Artificial Intelligence?

What is Artificial Intelligence
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Artificial intelligence, or AI, is a collection of several different technologies that are designed to work together for the purpose of empowering a machine to do things that humans do like sense, understand and take action. There are many different definitions of AI because it is more than one thing.

AI and the Human Brain

Researchers still don’t know everything about the human brain. AI and deep learning are helping them understand it better. It’s common knowledge that the body is a complicated entity, one that features organs, neurons, glands, cells, and tissues. The brain directs the body so that its different parts can work together seamlessly.

The brain is the control center when it comes to the elements that people can command like speaking, making decisions, and moving. It also oversees what people don’t control consciously such as breathing, blood circulation, and digestion.

Artificial intelligence and neuroscience can enrich what researchers know about the human brain. AI may be able to determine how the brain stem, cerebrum, and cerebellum can be elevated using advanced medicines. AI may even be able to help researchers develop healthcare techniques that could cure ailments like Tourette’s syndrome or OCD.

Unlocking the Brain’s Hidden Abilities

Neurological experts are currently researching how the human brain sends sensations to different areas of the body to direct different movements. New studies through AI may allow health professionals to unlock the brain’s hidden abilities. By obtaining a better understanding of the different lobes in the brain, health professionals may be able to tackle conditions like paralysis and other movement-related issues that people experience around the world.

AI can provide medical experts with more information about the structure and function of the human brain. With this information, neuroscientists are working to develop better brain stimulations for training purposes. In addition, AI offers enhanced pattern recognition, which can make it possible for research experts to test new ideas more efficiently. If AI reveals the brain’s hidden abilities, neuroscientists can improve how they treat the brain and the body.

How AI Will Change the Way People Do Business

Many global CEOs believe that AI will change the way that people do business in the next five years. In fact, an estimated 63% of them believe that AI will have a bigger impact than the internet. Right now, technology as well as additional environmental factors are inspiring change. These factors are increasing change to a level where many businesses are struggling to keep up. Businesses cannot continue to function in the same way as they have in the past and expect to stay relevant. Keep in mind that artificial intelligence increases productivity and eases workloads.

For instance, in the financial services sector, AI and automation are starting to perform the mundane tasks that humans were doing. However, some companies appear to be reluctant to turn that work over to AI and automation entirely. This means that leaders must shift their attention toward inspiring their workforce. As a leader, you’ll need to make your staff feel connected to a bigger picture, one with more purpose. This will encourage your people to look forward to a better way of doing things.

Research has shown that employees don’t need every detail about the company’s path forward, but they do need their leaders to be transparent about the problems that they’re facing at work, or you can give them the freedom to identify problems to help develop solutions. One of the main elements of employee experience involves trust. When you involve your workers in making decisions that impact their job or work environment, you establish trust. Employees need the space to understand why decisions are being made.

Use AI to Fight Back Against Employee Burnout

If you notice a decrease in an employee’s performance, then this may be a sign that the worker needs additional mental or emotional support. When you use AI-inspired tools, you can engage with your worker to get to the bottom of the issue and offer him or her some help. This can be a better option than an automatic disciplinary action plan for poor performance.

You know that one bad workday, week, or even a full month doesn’t indicate that you’ve hired a bad worker. Instead, focus on ways to help your employees deal with challenging times. You could also wind up with a worker who is performing at an exceptional level. They might be starting work earlier than before or staying later to put in more hours. If your staff is still operating remotely, then you might have a harder time catching this. If you review the worker on paper, he or she might appear to be performing better than the rest of your staff, but burnout could be close to happening.

When using artificial intelligence in project management, you can create AI models that are capable of mimicking burnout behavior, letting you step in before it happens. AI will draw your attention to the additional hours and advise you to have a discussion with your worker to see how they’re doing. People want to work more when they are trying to avoid something that’s happening in their personal life, or they might have a team member who is assigning them unrealistic workloads.

Use AI Responsibly

As you begin using AI to help your business operate more efficiently, be sure to use it responsibly. Set up AI in ways that protect the privacy of your employees, keeps things fair, and provides transparency. When it’s used wisely, AI will help you manage productivity loss, employee burnout, and turnover. Investing in your people is always a good business practice.

Welcoming AI into Your Everyday Business Processes

Artificial intelligence and machine learning are helping businesses operate more efficiently, but it’s important to help your current staff embrace technological changes. I can help you develop a strategy. Contact me at the Productivity Intelligence Institute today.