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Career Planning

6 Project Management Lessons From Enron & Their Historic Collapse

I just finished watching “The Smartest Guys In The Room”. It’s a documentary about Enron, the once-revolutionary Texas energy trading company that famously collapsed in 2001. From the early 90’s right up to their downfall, Enron was a darling of Wall Street, ranking #7 on the Fortune 500 in the same year that news of its’ massive accounting fraud and unethical business practices swept the world. In the summer of 2000, Enron’s stock hit an all-time high of over $90 per share. In late 2001, Enron filed for Chapter 11 bankruptcy and is still known as one of the largest corporate scandals in American history. Not only was Enron a business titan on Wall Street, but they were also well-known on ‘Main Street’ too. Enron’s collapse led to nearly 30,000 lost jobs, thousands of evaporated retirement accounts and countless investors left with worthless stock. Enron was once a (mostly) legitimate energy company before it essentially became an energy stock market in the 90s. What the heck happened? The Enron story is complex yet simple at the same time, unpinned by human ego, greed, deceit and pride. As for the specifics of what happened, we’ll get into those too. Let’s discuss six project management lessons from Enron and their demise that came to me after watching the film.

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For Project Managers Becoming Entrepreneurs - 5 Tips From Experience
Career Planning

For Project Managers Becoming Entrepreneurs: 5 Tips From Experience

As we all know, project management is an exciting and dynamic field. There are plenty of ways we can challenge ourselves and continue to grow year after year. These are the aspects of project management that most of us love. As we gain experience, we learn a wide variety of skills in leadership, budgeting, scheduling, organization and more. If we can manage a decent-sized project, how much harder can it be to work for ourselves? After working as a Project Manager for awhile, you may begin to crave a challenge beyond what your typical position or company may offer. Perhaps you want to create a business from the ground up. Maybe you crave the ability to make your own schedule, or no longer answer to a boss. For many different reasons, there’s a growing percentage of working professionals who decide not to pursue their current career path anymore, and instead pursue the road less traveled…the path of the entrepreneur. Cue the dramatic music. There’s plenty of reasons why being ‘your own boss’ is great, but there are plenty of reasons one shouldn’t just dive in without preparation, either. I know because I’ve done it! At least to a certain extent. While I was prepared in some ways, there are several things I wish I understood much earlier – that’s what this article is about. For the project managers becoming entrepreneurs out there, let’s go over 5 tips based on my own experience, plus a little detail as to why I became an entrepreneur after thirteen years in construction management.

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11 Ways Clients Screw Up Construction Projects
Construction Management

11 Ways Clients Screw Up Construction Projects

The construction industry is perpetuated by a truly symbiotic process, in that all parties involved – project initiators, architects, engineers, contractors and more – rely on one another in order to achieve the best results possible. This coordinated effort is absolutely essential; the sum of all these parts equals a successful end product. That said, each one of these parties has the capability of completely ruining a construction project! In this 4-part series, we’re talking about how construction projects get screwed up. This article will be focused on 11 ways Clients & Owners screw up construction projects.

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11 Ways Engineers Screw Up Construction Projects
Construction Management

11 Ways Engineers Screw Up Construction Projects

The construction industry is perpetuated by a truly symbiotic process, in that all parties involved – project initiators, architects, engineers, contractors and more – rely on one another in order to achieve the best results possible. This coordinated effort is absolutely essential; the sum of all these parts equals a successful end product. That said, each one of these parties has the capability of completely ruining a construction project! In this 4-part series, we’re talking about how construction projects get screwed up. This article will be focused on 11 ways Engineers screw up construction projects.

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11 Ways Architects Screw Up Construction Projects
Construction Management

11 Ways Architects Screw Up Construction Projects

The construction industry is perpetuated by a truly symbiotic process, in that all parties involved – project initiators, architects, engineers, contractors and more – rely on one another in order to achieve the best results possible. This coordinated effort is absolutely essential; the sum of all these parts equals a successful end product. That said, each one of these parties has the capability of completely ruining a construction project! In this 4-part series, we’re talking about how construction projects get screwed up. So what happens when an Architect makes a mistake? This article will be focused on 11 ways Architects screw up construction projects.

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11 Ways Contractors Screw Up Construction Projects
Construction Management

11 Ways Contractors Screw Up Construction Projects

The construction industry is perpetuated by a truly symbiotic process, in that all parties involved – project initiators, architects, engineers, contractors and more – rely on one another in order to achieve the best results possible. This coordinated effort is absolutely essential; the sum of all these parts equals a successful end product. That said, each one of these parties has the capability of completely ruining a construction project! In this 4-part series, we’re talking about how construction projects get screwed up. This article will be focused on 11 ways contractors screw up construction projects.

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Project Management Examples For Kids - 8 Lessons We Learn In School
Project Management

Project Management Examples For Kids: 8 Lessons We Learn In School

Project management is a complex task. Managing projects effectively requires education and training, but it also requires experience and a proper mindset. While some of this information can only be learned while working in the industry, many project management principles are based in lessons we learn as kids. In this article, we’re exploring some project management examples for kids via the lessons we learn in school. Let’s get started!

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Is Construction Management A Good Career Path?
Career Planning

Is Construction Management A Good Career Path? The Pros & Cons

Every year, college graduates from a variety of fields enter the field of Construction Management. While this includes people who’ve majored in C.M., the influx of new workers also includes engineers, architects, business/management students and more. By choosing the Construction Management career path, many of these students end up drifting slightly from the field they actually studied. Why is that? What made them choose Construction Management over something else? Is Construction Management a good career path? In this article, we’re comparing the pro’s and con’s of working in C.M. Enjoy!

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Does Construction Management Require Math? The 5 Ways You'll Need It
Construction Management

Does Construction Management Require Math? The 5 Ways You’ll Need It

The business of Construction Management consists of professionals from a variety of disciplines. Whether they’re life-long tradesmen, engineers, architects, PMP-certified project managers or business professionals, construction managers are ultimately responsible for the same end result. Because of this, they must have a diverse skillset with a variety of abilities. The prospect of relying on one skill in particular makes a lot of people nervous – math. Does construction management require math? In this article, we’re discussing the five ways that math is needed in C.M.!

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Project Management Lessons From The Emergency Room
Project Management

Project Management Lessons From The Emergency Room

Project management is a discipline that requires many skills. A project manager must have knowledge and experience relating to budgeting and planning, as well as people skills and the ability to make decisions under pressure. The former can be learned in the classroom or through lessons. The latter, however, is learned on the job in real-world scenarios. When it comes to making decisions under pressure and getting things done quickly, what better place to get project managements lessons than from the emergency room?

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