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.
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.
While visually pleasing elements can help stakeholders focus on important aspects of project management like risk identification and crisis management, other data elements are still needed for a qualified assessment of project or portfolio status.
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.
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.
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.
The PMO needs to ensure that the information contained in that database of historical information is organized in a way that not just the data can be retrieved, but also that the context of that data can be understood. If we don’t, then not only may the information not help PMs, it could lead them to significant errors in their planning.
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.
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.
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...
Governance is concerned with the best use of an organizations’ resources. Thus, effective IT planning processes are essential. Organizations must gain insight into (and ultimately retain control over) the demands being made on IT.
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?
How do you decide which PPM tool is right for you, and then make it work? In this article, we identify a few of the things to consider when selecting a tool.
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.
To really understand whether or not you have the right players or even the right teams in place to complete the projects you’re responsible for on time and on budget, there is a critical shift in paradigm you need to embrace. Projects aren’t the only things team members are working on, and all work is not the same.
Teams are more than the sum of the parts. Cross-functional collaboration supports creativity, innovation and speed. Who wouldn’t want that? But managing cross-functional collaborative teams differs from managing a functional team or a traditional project. How can you tell whether a team is working?
How do these two roles stack up against one another? Can a project manager adapt to being a ScrumMaster? Given the opportunity and environment, people can be successful in a number of different roles--provided that there is some degree of connection.
It doesn’t seem that the succession planning process should be so difficult. Yet success in this area seems to elude most companies. Perhaps the seeds for deficiency are sewn in the process itself. So how does an organization achieve a high degree of engagement from its leadership teams?
Organizations do a lot to implement what is viewed as project management. But do organizations have an organizational project management capability? To understand whether we do or not, we have to understand what this actually means, explore where organizations are today and evaluate how close we actually are to the attainment of this goal.