The increasing acceptance of portfolio management indicates that the application of knowledge, processes, skills, tools and techniques to select the right work at the right time may have significant impacts on program, project and business success. Focusing on IT portfolio management, the author shares a practical method and metric system for implementing portfolio management. All proposed methods can be easily extended for business portfolio management.
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.
As we turn the corner on 2014, it’s time to start thinking about what next year will bring. The project and portfolio management industry has gone through many evolutionary phases, and here are a handful of predictions for what 2015 will offer.
Portfolio management is an area that more and more PMOs are looking to become engaged in. As organizations look to improve project execution and alignment, what role does the PMO play in managing project data?
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.
Presenting the status on an entire portfolio can be very different than the status on one project or program. The portfolio manager must learn to condense and tailor the message for the audience.
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.
Many organizations fail to recognize that they are driving significant change to a PM’s job--and even fewer do anything to try and make the transition a constructive one. Here, we look at portfolio management in terms of the impact on PMs--and offer some guidance on how to help ensure that those PMs are champions of the evolution rather than resistors.
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.
A project portfolio can contain almost anything. How you break down the portfolio can have a great impact on the business and the projects on hand. How can a PM break down the portfolio into manageable chunks of work?
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.
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.
Project portfolio management tools are becoming more widespread and more powerful, but are we fully leveraging them as well as we might? There could be some exciting things possible if we combine a PPM database with a BI tool.
We now look to PMOs to take more of an active role within the entire lifecycle. For that expanded role to be successful, the PMO needs to be more than simply the guide and controller for project execution; it needs to be accepted into a leadership role within the organization--partners with business units and accepted experts on portfolio execution.
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.
Whether you’re starting from square one or fine-tuning a well-oiled process, consider these four tips for taking a more proactive approach to resource management--and create a more effective, efficient and responsive organization along the way.