Are there some times when innovation is a bad idea? You will still go out of business if you don’t at some point innovate and reinvigorate your products and services, but failure to maintain operational excellence is a faster path to failure than falling short of innovation excellence.
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.
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?
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.
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.
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.
Though it seems straightforward to simply invest dollars in the status quo, a good portfolio must consist of a balance of investments. To achieve this goal, we as project portfolio managers can look to a few simple guidelines inspired by the oil industry: oversubscription, prioritizing investment and providing ample lead time. Read on to understand more about the O.I.L. pipeline…
Why do enlightened companies work to develop better project portfolio management systems--but also implement approaches that dramatically limit their ability to actually select the right projects at the right time? In this two-part series, we will look at the project selection process from two different perspectives in order to identify some of the challenges they experience individually and collectively.
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.
More and more, companies are looking at project management from an organization-wide perspective, but they are making assumptions about the current state of project execution within those organizations. How hard can it be to identify the projects underway and the teams managing them? It shouldn't be too difficult to inventory the project portfolio...right?
Organizations are expected to deliver more and more with less and less, and that has in part led to the growth of organizational project management. But in this writer's experience, organizations have not been able to define what a successful OPM model looks like. How do you maximize the return on Organizational PM?
This executive communication strategy will go a long way to prevent middle management inertia when implementing project portfolio management. Here we look at the cascade that breaks down the management wall to PPM.
The portfolio manager is the strategic spearhead of your project organization, and there is a lot of mystery about an organization’s strategic planning process. The PPM function of your organization needs to be in the center of this process, and in this article we explore some of the functions that it needs to perform.
In the history of organizations trying to implement and get some value from project management, there has been a string of buzzwords that have captured the hearts, minds and budget approvals of senior executives. Why doesn't the hype of portfolio management seem to measure up in real life?
"One, two...the portfolio's coming for you! Three, four, better lock your door!" For a company to be successful, it needs to have a high-performance project portfolio. If it misses the mark, everyone is relegated to the B-movie horror of High Spending and Low (or No) Return for their Money.
ROI can get muddy, and the priority of projects can be changed after they've been started. So how do you quantify disruptions to progress and the impact on morale and relationships? Hopefully, through this article you will glean some insights and ideas on how to improve an ailing IT project prioritization process. And guess what? It's not as difficult as you might think!
"There is one way to find out if a man is honest: Ask him! If he says yes, you know he's crooked."