There is no silver bullet that will allow us to remove all uncertainty, but we can apply some business intelligence practices to the concept of annual planning to at least increase our confidence levels and reduce the risks around the decisions that we make.
Every organization goes through constant change. It is anticipating that change and adopting current methods and practices that will maximize value and success.
When projects are gathered together in a portfolio, decisions must be made about which ones have priority over the others. There are lessons to be learned in examining the wrong ways of determining a project’s priority.
With the ever increasing use of technology, how are processes impacted? Our writer feels that technology should be an overlay to the process work--we should start with a solid process and then look for ways that technology could make life easier in the execution of the process. But a colleague doesn't agree...
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...
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...
Call it application sprawl, application bloat or whatever you like, most companies that rely on applications could use a good old-fashioned spring cleaning to reassess and determine which apps in a company’s portfolio provide unequivocal value and which should make a polite exit.
Whatever the approach, mandate or processes adopted by each organization, you as the PM should be aware of the following best practices and ensure that they are adopted in one way or the other to guarantee your project’s financial transparency.
The value of PPM and the priorities people place within it have seen drastic changes to go along with the dynamism of the world over the last five years. Optimal realization of portfolio ROI is now a must just to simply stay alive, whereas before it was often just treated as a nice idea that a company could do to improve its business success.
As 2012 starts to become a distant memory and companies begin implementing their 2013 plans, one CEO has spent some time reflecting on the PPM trends of 2012 and how they will continue, amplify or decrease into the new year.
We've looked at the project selection process from the vantage point of an idea submitter. Now we will look at the process from the perspective of the decision makers--who are often left equally frustrated and confused.
Some managers view PPM as nothing more than high-level project management--a service function rather than a strategic support function. But PPM is more than just project management with bigger numbers.
The common challenge with EPPM is that it can be perceived as a loss of control for executives and for project managers. It can also be perceived as added work for those who need to support the philosophy. This article discusses ideas for communicating value at all levels of the organization to achieve buy in, preparation and adoption of PPM concepts, processes and tools--and the skills to implement them.
What is portfolio management supposed to deliver? The answer for many organizations is that it is a consolidated function that aims to provide a high-level management function of the initiatives that are underway or upcoming. But from one expert's perspective, PPM is not about managing projects or even programs. In fact, PPM is not about delivering projects...no really, it isn’t!
Many organizations find the process of managing their portfolio of projects extremely painful. But does it have to be like that? Perhaps a return to basics is needed. Could it be that the intellectualization of the PPM process has muddied the waters a bit?
It's inevitable--organizations will change the way that planning cycles are executed. For many organizations, this is a natural extension of the commitments that they are already making--EPMOs, strong and executive supported portfolio management, and results-focused execution. For others, this is a major shift. Here we explore some of the ways that annual planning can be improved.
Adoption of LEED standards is typically framed as a means of reducing operating costs; the greater expense in designing and building sustainable facilities is offset by reduced energy consumption in future years. This becomes a theoretically easy business case that should be readily accepted: an investment in current periods providing future savings in costs. The challenge, however, is two-fold: it requires foresight and a willingness to invest in the long term, and there needs to be confidence that the promised benefits are realistic and attainable.
More than ever before, CIOs need to be extremely nimble and adaptable. They need to find ways to stay aligned with the business while doing more with less, and create scenario-based business plans and supporting budgets. Here are some tips on producing a flexible budget to management that focuses on aligning spending to economic realities and probable possibilities.
There are benefits from a matrixed organization that apply both to the individual and to the group. In the world of project management where matrixed organizations are becoming the norm, it is important for practitioners to understand the benefits in order to capitalize on them--and make working on projects more enjoyable for everyone involved.
Just like their are multiple successful PMO models, there is no single right model for a leader--but there are some common themes. What’s the best skill set, personality and experience mix to lead a PMO? Here we try and build a profile for a PMO leader, look at how different strengths and opportunities affect the PMO and match skills with structures.
While working for a small firm, a new PM was asked to go to a major company to help them integrate their IT PMOs...leading to the worst three months of his career. As his two-part article concludes, we find out if if there was truly a light at the end of the tunnel--or just a train coming the other way.
For anyone thinking about or faced with implementing a PPM tool, here are some tips to keep in mind to help you wade through the sometimes problematic process.
Those with solid agile project management experience and knowledge--coupled with an entrepreneurial vision to see the trends and navigate incubating startups to launch--are poised to take great advantage both monetarily and professionally in years to come.