Don’t try and do too much with the risk management plan. It is just a summary document that provides an overview of the portfolio risks and allows access to more detail. Consider building this template within your PPM tool or within a corporate collaboration tool. This template has been built for the portfolio level, but it can easily be adapted for programs/projects with some simple rewording of columns.
For many organizations, strategic planning and the associated project selection is an exercise in frustration. How can we improve things without reinventing the process?
There’s a lot of talk about strategic or enterprise scale agile, but what do organizations have to do to prepare for such a change? The right approach will depend on the needs of the organization and its willingness to absorb change.
We need to be clear about what we are talking about in the context of alignment. And we need to be clear about what alignment actually gives us in the context of portfolio management. In other words, just what is the problem we are trying to solve here?
When managing a portfolio of projects, it is important to make sure that the overall strategy of the organization is aligned with the projects in the portfolio.
While a premium used to be placed on proactive project forecasting, budgeting and resourcing, there’s now an even more highly prized measure of successful project management--being predictive. Read how making the shift from reactive to predictive can help your cause.
How does a company get the best return from the money it spends on projects? It’s a question that very many executives would like to know the answer to. Helping to find an answer to that question is one of the more important goals of Project Portfolio Management.
Despite their high failure rate, PMOs have the potential to deliver numerous benefits to the enterprise. Unfortunately, many PMOs fail. So what can executive leadership do to ensure success?
Projects are becoming more strategic, why isn’t project leadership? The argument for the CPO is becoming stronger and stronger, so let's consider the case for an executive responsible for project execution.
Like the source of the Nile, the start of portfolio management can be hard to locate. There is not yet a generally accepted initiation point for portfolio management, so let’s try and figure out where PPM might start in a perfect world.
When used effectively, PPM can increase the perception of IT’s value to the organization. So what can PMOs do to ensure that PPM processes are increasing IT’s value to the business?
If you are trying to set up project portfolio management, you will run smack into a unique workforce problem. Use these tasks in your WBS to help manage three sensitive groups that participate in projects to establish PPM.
Managing a portfolio can involve processes that are very different than project management processes. Project managers need to be prepared--understanding these three areas will lead to a better performing organization.
Many organizations have benefited from a formal PPM process while others have been unable to develop productive PPM capabilities. The only real thing that matters is what approach to PPM will work best for your organization; the rest is just noise and distraction. Here is some guidance that you might find helpful in developing and/or honing your organization’s PPM function.
Making good business decisions while managing a portfolio often comes down to gathering the proper data and creating useful business intelligence. Here's some advice on four critical stages of the process.
Resource management is the top business challenge for most senior executives. Having a hierarchical approach to resource management enables any organization to share unified information across the enterprise so that they can make smarter business decisions across all levels.
As organizations look to improve their performance, they often consider establishing a Project Management Office. The idea of creating a PMO is one thing; the actual implementation of it is entirely another. Taking a step-by-step approach and following some critical guidelines will help ensure your PMO’s chances for success.
Do C-level executives make arbitrary decisions to kill PMOs? Alarming as this idea may seem, many organizations nowadays are building up a track record in terminating the services of their PMOs right after kicking the tires.
As PPM and similar software has become more prevalent, has your PMO evolved to embrace the tools? Here we look at how PMOs need to adapt and adjust in order to leverage technology.