Business Development & Project Management Methodology (PROMETH)

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Business Development - by Elayne K

  • Preceding project management, are sales, marketing and business development efforts. I was with the man himself, Red1 over 2 cups of coffee, and acquired some vital learning points on business development, sales and negotiations. These learning points, all of which are concepts commonly used in international relations, diplomatic negotiations and finance deals. To exemplify this, here are some quotes I chanced upon (based on my very own interpretations):-
  • 1. Calvin Coolige (30th President of US) on 'using silence as a weapon' - ' I have never been hurt by anything I did not say'
  • 2. Leo Rosten (Author) on 'getting consensus' - 'Extremists think 'communication' means agreeing with them'.
  • 3. Kate Anderson ( Author) on 'presenting choices' - 'Remember the 2 choice rule. When you want people to make a choice quickly, offer them two alternatives, either of which would be comfortable for you. They are more likely to reach a decision now when offered 2 definitive alternatives'.
  • 4. Eric Skopec & Laree Kiely (Business strategists) on 'persuasive evidences' - 'To avoid getting stuck in a futile debate... try this formula whenever you need to reject a portion of a proposal : I know just how you feel. In fact, I felt that way myself. But do allow me to tell you what I found'.
  • 5. Niccolo Machiavelli ( 1469-1527) on 'selling to meet needs/requirements' - My very interpretation, of course - 'Men are so simple of mind, and so much dominated by their immediate needs, that a deceitful man will always find plenty who are ready to be deceived'
  • 6. David Hume ( 1711-1776) on 'presenting to appeal to different categories of audiences' - 'No man need despair of gaining converts to the most extravagant hypothesis who has art enough to represent it in favourable colours'
  • 7. Emperor Tokugawa Ieyasu of Japan ( 17th century Japan ) on 'window-dressing' - 'If you want to tell lies that will be believed, do not tell the truth that won't be believed.'
  • 8. Sir Walter Raleigh (British soldier & explorer) on 'getting the most from deals, via nibbles' - 'Queen Elizabeth I once rebuked me for my greed, 'When will you cease to be a beggar?'. Raleigh replied 'When you cease to be a benefactress, ma'am'

Project Management Methodology (PROMETH)

PROMETH will encompass the full scope of service delivery, execution/management of projects and post-procurement services.

  • Objectives are five-fold :-
    • 1. Ensure consistent flow of information from project initiation to completion, leading on to post-procurement.
    • 2. Coordination of different expertise @ different stages of a project
    • 3. Margin / cash flow monitoring
    • 4. Project risk management i.e legal risk ( contractual risk )
    • 5. Identification of further business development opportunities
  • 1. Prequalification and Tendering
  • 2. Costing & Procurement
  • 3. Contract Risk Assessment
  • 4. Quality Assurance
  • 5. Planning
  • 6. Survey

Costing information in line with requirements of IAS (International Accounting Standards)11

Phase 1 Phase 2 Phase 3 Phase 4 Phase 5

  • % of completion
  • Phase Description (Work Scope)
  • Date of phase commencement
  • Progressive Billings to Client
  • Value - Upper Bound (per invoice/billings)
  • Value – Average
  • Value - Lower Bound (per invoice/billings)
  • Variation Order (if applicable)
  • Date of invoice and progressive billings
  • Credit term granted
  • Year of revenue recognition
  • Year of cash receipt
  • Billings from Suppliers
  • Value - Upper Bound (per invoice/billings)
  • Value – Average
  • Value - Lower Bound (per invoice/billings)
  • Cost Overruns / Non budgeted
  • Date of invoice and progressive billings
  • Credit term granted
  • Year of cost recognition
  • Year of cash payment