International Institute of Project Management Coaching (IIPMC)
Table 1. IIPMC SWOT Analysis Summary
IIPMC Internal Strengths
- Good organization name and clear mission/vision
- Virtual organization, global with low overhead
- No debt!
- Does not exist!
- Susceptible to name loss
- No nonprofit status
- Unproven and undeveloped core process (PMCBOK)
- Unrecognized credential
- No alliance with PMI or OGC
- No advisory board
- No members or customer base
- Limited technological infrastructure
- Limited financial resources
- No strategy
- Economy is improving, more projects, PM failure rate still high
- No organization providing PMC credential
- Internet and collaboration technology simplify communication
- Additional revenue from spin-off products
- Coaching competitors already established
- Easy for competitor to copy
- Copyright or other legal infringement
- No adoption from coaches
Because the IIPMC does not yet exist, it has few internal strengths. However, as a result of the last paper, the IIPMC does have a good organization name and a clear mission and vision statement. In addition, with the technology available today, the IIPMC can function as a virtual organization supporting a global presence with very low overhead. Finally, one of the biggest strengths of the IIPMC is that it is debt free. These points, although few, provide a solid foundation from which to further develop the strategic plan.
IIPMC Internal Weaknesses
As an organization that does not yet exist, the internal weaknesses of the IIPMC are many. Although the organization name is good, I have not registered it and I have not performed a name search. As a result, the name is susceptible to loss to another organization. In addition, I intend to run the IIPMC as a nonprofit; the organization will need to meet the legal requirements to register as a nonprofit.
Another weakness of the IIPMC is that its products do not yet exist. The IIPMC must first develop the Project Management Coaching Best Practices (PMCBP). Even after development, the core processes are not yet proven. In addition, the Project Management Coach (PMC) credential has not yet received recognition. It could take years for the IIPMC to gain enough recognition for the PMCBP and the PMC credential to hold any creditability. The IIPMC will also need to develop the forum that will be used to connect the PMCs to project managers and organizations seeking performance improvements. This development could take significant time and resources.
The success of the IIPMC is partially dependent on its relationships with key stakeholders. No alliance exists with the Project Management Institute (PMI) or the Office of Government Commerce (OGC), the two leading organizations that administer project management certifications. In addition, the IIPMC will need to put in place a board of directors to help guide and monitor the development and execution of the IIPMC strategy. The IIPMC is also absent its most important relationship: its members or customers. As with the products, these relationships will take time and resources to develop.
As if those internal weaknesses were not enough, the IIPMC has limited financial resources. As a nonprofit, the IIPMC will need to raise funding before making significant advances toward executing its strategy, which the IIPMC must also develop. The weaknesses are overwhelming.
IIPMC External Opportunities
On a more positive note, the IIPMC is in a good position to leverage some of the external opportunities that currently present themselves. The economy has made a turn for the better. As a result, organizations are beginning to fund more projects. However, as discussed in the previous paper, project failure rates are still high. This combination provides an opportunity for the IIPMC if it can show how using a PMC improves project success. In addition, no organization currently offers the PMC credential; IIPMC has an opportunity to be the first.
Another key opportunity is the current capabilities of the Internet and collaboration technology. As a virtual organization, the IIPMC will need to connect people from around the globe. The technology available today provides this capability with relative ease. The technology will continue to advance and make it easier for people to communicate about anything, anywhere, at any time.
Although not a current opportunity, once I establish the IIPMC, it will have opportunities to generate additional revenue through spin-off products. The IIPMC could develop revenue from local chapters, additional books or training materials, speaking engagements, and logo merchandise items.
IIPMC External Threats
As for external threats, although no project management specific coaching certification organizations currently exists, many coaching organizations do. As a result, it would be relatively easy for an established coaching organization to add a project management credential to an already existing portfolio of coaching products. In addition, the IIPMC might find it difficult to develop its products without infringing on copyrighted material or experiencing other legal challenges. But by far, the biggest threat to the success of the IIPMC is rejection from the coaching community. Unless those who provide coaching services to project managers adopt and support the PMCBP and PMC credential, the IIPMC will not succeed.
Conclusion
As a new organization, the IIPMC faces many challenges that it will need to overcome to become a viable business. The task for the IIPMC is to develop a strategy that will leverage its strengths and opportunities while minimizing or eliminating its weaknesses and threats. In the next paper I will develop the objectives needed as part of a comprehensive strategy aimed at achieving the IIPMC’s mission and vision.
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