Latest news with #projectManagement
Forbes
4 days ago
- Business
- Forbes
The Case For Moving Capability Building From HR To PMO
Peter Beven, CEO of iEC Professional and a leader at the intersection of education, technology innovation and organizational transformation. This may upset some human resources HR leaders, but I believe that for too long, capability building has been miscategorized as an HR function. Because of this, it often ends up sitting quietly in the corner of the organization, far from the action. It gets packaged as employee retention, training plans, learning management system (LMS) completions—training programs that tick boxes but don't shift performance. But here's the uncomfortable truth I have come to realize: In project-based organizations where execution speed, delivery performance and adaptability are everything, this model of HR-run capability building isn't just outdated—it may be holding you back. Shifting From HR To PMO If capability is the engine of delivery, why isn't it embedded where delivery actually happens—the project management office (PMO)? My underlying rationale for this argument is that HR is designed for consistency, whereas the PMO is designed for performance. This isn't a dig at HR. HR plays a vital role in managing workforce systems, policies and employee life cycle processes that support organizational stability, compliance and culture. But let's be honest: HR is geared for consistency and control. It's designed to support the employee life cycle, not the delivery life cycle. The PMO, on the other hand, is designed for movement, for execution, for impact. It works at the sharp edge of strategy: turning ambition into reality through coordinated delivery. It sees firsthand where the capability bottlenecks are, which tools are underutilized and which teams are underperforming. Capability As Both A Delivery And A Development Issue Projects fail when skills don't match the work to be done. In complex project environments, this issue can become even more profound. In my experience, many missed milestones and blown budgets come down to one thing: The team didn't have the right capability at the right time. And yet we still treat capability building as something separate from delivery. Teams wait for annual training plans, generic courses or slow approval processes. Meanwhile, the work keeps moving. I believe capability building needs to be in the hands of the PMO because they are already embedded in project planning, performance tracking, milestone reviews and delivery risk management. PMO typically finds out, faster and more clearly than HR, where capability gaps are emerging and what's needed to close them. Shifting capability building from HR to PMO may not work for everyone, but I highly recommend it if your organization is heavily tech-centric or has high digital maturity. I have found through working with my own company that embedding capability building into the PMO of a project-based organization can lead to teams being more agile, responsive and equipped with the vital skills needed for productivity transformation—particularly in increasingly complex environments. This can help you consistently deliver projects and services on time, on budget and with outcomes that matter. Five Steps To Make The Shift For Project-Based Organizations 1. Reframe capability as a delivery asset. Stop talking about training plans and start talking about delivery enablement. Position capability as a lever for delivery excellence and not as an HR 'initiative.' 2. Relocate or co-locate the capability function. Move the capability function into the PMO. Create a dual operating model where the PMO drives delivery-focused capability while HR supports foundational and enterprise-wide needs. 3. Measure what matters. Put performance over participation: Adopt a capability measurement model that links skill growth to project performance and productivity metrics, including timelines, quality, cost and customer outcomes. 4. Build just-in-time, embedded learning infrastructure. Replace generic training with project-embedded, microcredential learning that is aligned to priority competencies. Build content libraries, enable expert coaching and create systems that deliver learning in the flow of work. 5. Build a competency-based workforce. Redesign your jobs based on the skills needed for each role, and align all roles, skills and development to clearly defined capabilities. Utilizing AI For Just-In-Time Capability Building AI can be one of the biggest enablers for shifting capability-building duties from HR to PMO. Forget the narrative of self-styled gurus that say AI is just the copilot to jobs; it can do so much more. It stands to totally transform jobs, not just at the periphery but across the board. For example, earlier this year, Moderna announced its move to merge technology and HR into a single function under the CIO office to align with changes brought on by AI technology. This is just one of the latest signs that artificial intelligence is bringing big changes to the workforce. Here are several ways you can utilize AI to help your PMO deliver in capability building: • Use project delivery analytics for real-time capability gap detection. • Develop and deliver role-specific expert learning content, on demand and derived from industry best practices. • Verify and validate skills in all training and by all providers. • Enable dynamic skills mapping and personalized learning-pathway generation, especially for capability uplift. • Embed AI coaching within project management tools. • Use project metrics and performance data to drive learning. • Implement workforce capability forecasting and delivery-readiness simulation. Final Thoughts Let's be clear: This shift may ruffle feathers. Traditional HR and L&D leaders may see this as a land grab. It's not. It's about recognizing that transformational capability building shouldn't be managed as a support function anymore—not when delivery is on the line. This is a call to elevate capability, not sideline HR. I believe the future is collaborative, but it's also urgent. In project-based environments, capability should be owned by those closest to the work, the performance and the results. This shift is about repositioning capability as a strategic, embedded and responsive engine of delivery excellence. And that requires bold change. The PMO has evolved from a governance body to a strategic powerhouse. It's time to go further and make it the beating heart of organizational capability. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
CNA
19-06-2025
- Business
- CNA
In a sector grappling with manpower constraints, mechanical and electrical engineering company DLE M&E shows how investing in employees' career health can drive long-term business success.
In 2019, a cost engineer at DLE M&E made an unexpected request – he wanted to move beyond his desk-bound role to gain hands-on experience working on projects on site. 'We granted his request,' said the company's director, Mrs Sarah Tham. After being redeployed as a project engineer, the employee took on more responsibilities and now oversees site works as a project manager. For Mrs Tham, his career progression reflects a broader belief at DLE M&E. 'By having open and honest conversations with staff about their goals and supporting them in achieving those goals, they experience greater job satisfaction and are more likely to stay with us longer,' she said. This openness underpins the 45-year-old mechanical and electrical engineering firm's commitment to upskilling its 350-strong workforce. To date, eight employees have completed reskilling through Workforce Singapore (WSG) initiatives, including Career Conversion Programmes (CCPs) for Sustainability Professionals and workshops to improve human resource competency. Given the construction sector's long hours and demanding work culture, DLE M&E sees job rotation and multiskilling as key to sustaining motivation and productivity. This emphasis on employee development strengthens their career health and helps the company remain competitive. In response to growing environmental, social and governance (ESG) expectations from clients, DLE M&E pursued EcoVadis accreditation – a widely recognised assessment of corporate sustainability – and sent employees for external ESG training. 'The clients see that we are ESG-ready, which opens up many business opportunities for us,' Mrs Tham said. 'WHEN NEW TOOLS ARE INTRODUCED, MANAGEMENT MUST BE ACTIVELY INVOLVED IN THAT CHANGE, SO STAFF DON'T FEEL THEY ARE LEFT TO GO THROUGH THE CHALLENGING PARTS THEMSELVES.' RESKILLING WITH PURPOSE DLE M&E undertakes projects involving the installation of mechanical and electrical systems, such as retrofitting works for multinational clients. In 2017, with support from the Building and Construction Authority (BCA), the company began training its drafters in building information modelling – a 3D digital platform that is now required for all construction projects with a gross floor area of above 5,000 sq m. Today, its drafting team is proficient in the platform, giving the company a competitive edge when bidding for tenders. This capability was developed primarily through training conducted by BCA Academy and supported by WSG through a CCP to build competency in building information modelling. Beyond technical proficiency, the company encourages self-discovery and career planning. Selected employees have attended workshops such as Career Aspiration Navigator, which uses profiling tools to assess their readiness for change, communication styles, preferred learning methods and skills gaps. 'The course aims to align the employer with what employees hope to achieve in their careers,' said Mrs Tham. Employees also gain a clearer understanding of their strengths and developmental areas, which supports more meaningful career conversations. DEVELOPING TALENT FROM WITHIN HR and office manager Karen Wong is among the DLE M&E employees who have been reskilled through WSG programmes. Encouraged by her line manager to deepen her understanding of ESG practices, she enrolled in the CCP for Sustainability Professionals. As part of this programme, she attended a short course on sustainability projects. After gaining a better grasp of ESG principles and their practical application, Ms Wong now leads sustainability efforts in the office, addresses ESG-related queries from clients and helps bring sustainable practices into the company's daily operations. 'The CCP programme strengthened my knowledge in sustainability and ESG, and helped me grow personally and adapt to new challenges,' she said. 'I feel more confident in meeting client needs and proud to be aligned with the industry's future direction.' Her experience highlights the potential of mid-career reskilling to meet both individual aspirations and evolving business needs. While some employees may be uncertain about the need to reskill, the company sees career development as a shared responsibility. 'We are interested in their career health and we are intentional about making them better,' Mrs Tham added. 'CAREER HEALTH ISN'T JUST ABOUT MOVING UP. IT'S ALSO ABOUT GROWING PERSONALLY AND PROFESSIONALLY, WITH THE ENERGY AND MINDSET TO REACH YOUR GOALS AND CARE FOR YOUR LONG-TERM WELL-BEING.' REDESIGNING ROLES FOR LONG-TERM GROWTH To improve efficiency and future readiness, DLE M&E is also tapping on the Support for Job Redesign under Productivity Solutions Grant (PSG-JR). BDO Consultants, one of the pre-approved consultants appointed under PSG-JR, will be shadowing selected employees to analyse job scopes and identify areas for improvement. Through this process, the company aims to digitalise certain manual workflows – enhancing both efficiency and productivity. Once the redesigned processes are in place, tailored training maps will be developed to equip employees with the necessary skills. Design engineers at DLE M&E reviewing 3D plans using building information modelling software – a digital tool now essential for large-scale construction projects in Singapore. As part of this effort, the company expects to send impacted employees for reskilling, primarily through the CCP for Built Environment Professionals. Mrs Tham said the company is taking a long-term view of both business needs and employee development. 'The staff are also looking at how the company develops them as individuals and professionals,' she added. This focus on long-term growth reflects broader workforce trends. 'With the retirement age being extended, we are all going to work longer,' said Mrs Tham, 'We have to ensure that our people don't burn out and that their career health is sustained.' Job redesign, she added, supports long-term engagement and helps align roles with employees' evolving needs and strengths. SEE HOW CAREER HEALTH DRIVES BUSINESS RESULTS Whether it is reskilling for new demands or redesigning roles to stay competitive, these companies are investing in their people and seeing real returns. Scroll down to explore how others are integrating career health into their strategy – or turn to the Career Health Playbook for Business Growth for tools, tips and strategies to future-proof your workforce.
Geeky Gadgets
30-05-2025
- Business
- Geeky Gadgets
Step-by-Step: Automate Statements of Work with AI Meeting Note-Takers
How much time do you spend writing statements of work? At some point, the impact on productivity becomes inevitable. Every project begins with formalities: documenting agreements, timelines, and deliverables. To capture key points, professionals go through extensive meeting information, which can take hours. But what if you could get it done within minutes ? A good AI meeting note-taker helps automate deliverables and optimize workflows of an entire team. Let's dive in and explore the details. What is a Statement of Work? A statement of work, or SOW, is a document that includes information about the project's scope, timelines, deliverables, and other discussed points. The idea is to bind a client and a vendor and define what a successful result looks like. Use cases vary: from starting a new project to involving new parties in an existing one. A statement of work helps professionals set expectations and reduce misunderstandings in the early stages. Key Components of a Statement of Work Before automating statements of work, you need to understand the key elements that shape this document. Think of them as a strong foundation that remains the same, with items from meetings filling in the gaps. Here are the core features of a comprehensive statement of work: Introduction and objectives Scope of work Deliverables and tasks Timeline Roles and responsibilities Project standards Acceptance criteria Payment information Requirements A good example of a statement of work outlines project-related information and provides traceability across all involved parties. How AI Can Improve Statements of Work The truth is, many professionals remain loyal to traditional meeting documentation. Then, why should you do it differently? The value of AI goes beyond speed. Let's take a look at how AI can turn your team conversations into practical statements of work: Consistency : AI note-taker tools ensure that information from company meetings is consistent and accurate. It is easier to maintain the brand's style and adhere to the guidelines. : AI note-taker tools ensure that information from company meetings is consistent and accurate. It is easier to maintain the brand's style and adhere to the guidelines. Traceability : Whether you have virtual meetings or offline discussions, with AI all documents are traceable. : Whether you have virtual meetings or offline discussions, with AI all documents are traceable. Standardized templates : A range of tools offers customizable templates, but the key is that all the information you need for statements of work is structured and aligned with templates. : A range of tools offers customizable templates, but the key is that all the information you need for statements of work is structured and aligned with templates. Time-saving: Statements of work are a tedious task, but with AI, it takes minutes. A good meeting assistant analyzes discussions and extracts information required for SOWs. As a result, you spend less time but receive comprehensive documentation that is structured and aligned with your guidelines. Steps to Choose an AI Meeting Note-Taker The value of automated note-taking tools for SWOs is out of question. Now that all the benefits are listed, you can move to the next step: find the right software. With so much to consider and so many options to choose from, how do you decide? We have prepared a list of ideas to help you assess note-taker tools better. Transcription Accuracy An AI meeting note-taker is only effective as long as it has accurate transcription. Furthermore, it has to maintain quality regardless of background noise or the number of speakers. Consider tools that provide real-time transcription with precise detection of speaker switches and support multiple languages. Summarization & Key Insight Extraction Can the note-taking tool generate meeting summaries and extract key items? This is the next question to answer to narrow down the options. Automatic transcription is one of the pillars, but not the only one. Look for AI meeting note-taker tools that gather insights across meetings and can turn them into precise documentation. Ensure the smart summary contains action items and main ideas, and that the accuracy of the text is not affected. Automation of Deliverables Automated deliverables can set advanced AI meeting note-takers apart from traditional ones. Tools that support AI Artifacts can optimize the creation of statements of work, project plans, and other documentation, improving professionals' productivity. Search tools that not only generate meeting transcriptions but can also create comprehensive documentation based on conversations. Search & Traceability What is the purpose of having meeting recordings, notes, and documents if they are not searchable? Even worse, when you cannot trace them. This is another basic feature to consider in the AI meeting note-taker software. Choose the tool that provides searchable transcripts, deliverables, records, and filtering by meeting topic or keywords. Seamless Integrations No good AI meeting note-taker is isolated, so when searching for your next assistant, consider the integrations list. Check whether there are options to sync generated documents into collaboration or project tools. Assess a list of native integrations and check Zapier apps to ensure all the platforms you use can be connected. This will help you automatically sync or share your statements of work with all the responsible parties. How Sembly AI Automates Statements of Work What if you can automate deliverables, receive smart meeting recaps, and integrate AI with your favorite tools? Sembly AI made this possible. With Sembly, you can create statements of work or any other supporting documentation within minutes after meetings. It will analyze your discussions and provide structured information based on your input, regardless of the complexity level. The tool offers a full spectrum of meeting support: from searchable records, smart notes, and action items to comprehensive AI Artifacts. You no longer need to dedicate time to manual note-taking and creating documents in Word. Sembly provides high-quality output, improving your productivity and results, while you focus on what's important. The Main Challenges of Automating Statements of Work Automation may come with its challenges, so this section is dedicated to understanding common pitfalls and addressing them. Let's take a look at some concerns that stop professionals from automating their statements of work and other project documentation: Misinterpretation : Improper contextual interpretation of meeting information can be lethal for the statements of work. It is crucial for the chosen software to analyze discussions, rather than just extract pieces of agreements. : Improper contextual interpretation of meeting information can be lethal for the statements of work. It is crucial for the chosen software to analyze discussions, rather than just extract pieces of agreements. Dependency on data : Technical issues with audio or meeting participants' dropouts negatively impact the document's result. Focus on tools that support low-quality sound and offer minutes of noise cancellation. : Technical issues with audio or meeting participants' dropouts negatively impact the document's result. Focus on tools that support low-quality sound and offer minutes of noise cancellation. Security : Security remains a concern for many professionals. According to recent data, there are approximately 600 million cyberattacks per day. It is mandatory that the AI meeting note-taker maintains enterprise-grade security. : Security remains a concern for many professionals. According to recent data, there are approximately 600 million cyberattacks per day. It is mandatory that the AI meeting note-taker maintains enterprise-grade security. Limited customization: Brand consistency is key, especially in documents such as statements of work, and some tools offer pre-made templates only. Try to find advanced options that are more flexible and can adjust to your guidelines and rules. Wrapping Up Statements of work no longer have to take hours, libraries of templates, and careful and time-consuming editing. AI meeting note-takers continue to advance and can automate deliverables based on meeting information. A proper input and a link to the conversation details are enough to receive a comprehensive document within minutes. The key? The tool that has high accuracy levels, summarization & extraction of key insights, searchable records, integrations, and advanced AI features. As a result, your statements of work will take minutes, and you can improve your productivity. Filed Under: Guides, Technology News Latest Geeky Gadgets Deals Disclosure: Some of our articles include affiliate links. If you buy something through one of these links, Geeky Gadgets may earn an affiliate commission. Learn about our Disclosure Policy.
Yahoo
16-05-2025
- Automotive
- Yahoo
Ideal Power Inc (IPWR) Q1 2025 Earnings Call Highlights: Strategic Wins and Financial Challenges
Release Date: May 15, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Ideal Power Inc (NASDAQ:IPWR) completed solid state circuit breaker prototypes three months ahead of schedule, indicating strong project management and execution capabilities. The company secured an order from a third Forbes Global 500 power management market leader, expanding its customer base and potential revenue streams. Ideal Power Inc (NASDAQ:IPWR) has a sales representative partnership with Queensland Semiconductor Technologies, enhancing its market reach in Europe and Asia. The company is engaged with multiple large global customers, which could lead to significant design wins and revenue growth. Ideal Power Inc (NASDAQ:IPWR) maintains a clean capital structure with no debt, providing financial stability and flexibility for future investments. The company's cash burn is expected to increase in 2025, with a full-year cash burn projected to exceed $10 million. Operating expenses have increased compared to the previous year, which could impact profitability if not managed carefully. The sales cycle for Ideal Power Inc (NASDAQ:IPWR)'s products can be lengthy, particularly with large companies, potentially delaying revenue realization. The company recorded a net loss of $2.7 million in the first quarter of 2025, indicating ongoing financial challenges. There is uncertainty regarding the timing of revenue from new programs, as the purchase order process with major partners like Stellantis can be bureaucratic and time-consuming. Warning! GuruFocus has detected 3 Warning Signs with IPWR. Q: Can you talk about the COM, advanced technology order and when the corresponding revenues will occur? A: Unidentified_4 (CFO): We just started shipping the order, and it's partially fulfilled. Some shipments were in Q1, and more are expected in Q2 and Q3. This order could lead to a design win later in the year, creating opportunities for us through our distribution partners. Q: What is the timeline for the purchase order process with Stellantis, and what happens after it's completed? A: Unidentified_3 (CEO): The process should take several weeks, as Stellantis prioritizes this program. Once completed, we'll work with a company on controls for the contractor, including design, testing, and shipping devices for lab testing. The program might be released in one phase due to its priority. Q: What is the endgame for Ideal Power's opportunities with Stellantis? A: Unidentified_3 (CEO): We provide semiconductors for contractors and drivetrains, not the entire systems. Stellantis aims to create a platform for multiple models and brands, allowing our wins to span various vehicles and markets. Q: Are there any plans to certify domestic chip manufacturers due to recent tariff wars? A: Unidentified_3 (CEO): Currently, tariffs don't impact us as power semiconductors are exempt. We have ample capacity, but if needed, we know which US fab would be a good fit. However, there's no current need to shift domestically. Q: How long is the sales cycle for your products? A: Unidentified_4 (CFO): It varies by customer. Typically, it involves educating the customer, providing products, testing, and deciding on prototypes. For industrial customers, it takes about 12 months, but it can vary widely. Q: What will it take for Ideal Power to reach cash flow break-even? A: Unidentified_4 (CFO): It depends on the mix, but a few key design wins with large companies could generate millions or even over $10 million in annual revenue, helping us reach break-even. Q: What is the expected value of Ideal Power technology in electric vehicles? A: Unidentified_4 (CFO): We estimate the value at roughly $1,100 per vehicle, covering multiple applications like drivetrain, EV contractors, and circuit protection. EV contractors alone could be $200 to $300 per vehicle. Q: When will auto certification be completed? A: Unidentified_3 (CEO): We're targeting the end of this year, around Q4. The process is going well, with no die failures so far. It's not a gating item for EV opportunities but could accelerate industrial adoption due to its high standards. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
