The project constraints hierarchy is intended to identify the order in which constraints will be compromised in order to protect/preserve more important constraints. The constraints hierarchy should be determined in conjunction with the major stakeholders who also need to understand the implications of their decisions.
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.
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.
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.
Organizations that take project governance for granted are headed for a fall. There is one area where governance seems to be failing in many organizations, and it's perhaps surprising--the PMO. That is incredibly dangerous, and here’s why...
Many PMOs do not fully understand their role within the larger enterprise. What can PMOs do to improve lackluster performance and increase the return on investment? Let’s look at a few of the emerging trends for PMOs to help answer that question...
Every project has an issues log. But what about the PMO? Does your PMO manage issues and maintain an issues log? Do you look for trends across the issues of different projects and take proactive steps to address them? Do you attempt to prevent issues through good communication? In this article, we look at a model for PMO-level issue management and suggest ways that it can improve the quality of projects that your PMO is responsible for.
Managing issues on a project takes strategic planning and a little finesse so that issues do not turn into show stoppers. Do you have an issue management plan that can handle any problems and still keep the project on track?
One of the primary roles of the PMO is to provide a framework for ensuring proper governance over projects. Here we look at some of the obstacles and challenges facing the PMO governance function--and some tips for overcoming them.
The PMO must have an easy time of annual planning, right? It's a service function that provides resources based on the overall project portfolio, and the organization determines which projects to approve. Based on those decisions, the PMO knows how it needs to adjust its resource model. But life’s not quite that simple...
As a PMO leader, are you driving change, or is it driving you? In all too many cases, PMOs are reactive--implementing a solution in response to a problem. In this article, we argue for a more proactive approach.
You won’t get the right benefits unless you start with the right scope. As project managers are increasingly asked to become involved in the business side of project execution, many elements they previously didn't have to worry about are now becoming relevant.