The advocates for the implementation of portfolio management are dissatisfied with how decisions are currently being made. They wish to bring about a change to this decision process. They are not, therefore, likely to have much influence in how decisions are currently being made. What to do about this conundrum?
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.
One expert's definition of a portfolio turns the bottom-up concept on its head, defining a portfolio as “the vehicle by which an organization achieves its goals and objectives.” In other words, the portfolio comes first, and the programs and projects are broken out from it. Let’s walk through it in a little more detail...
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.
ProjectManagement.com is once again excited to be bringing you our annual (and free) virtual conference and exhibition! It's your opportunity to learn, network, earn PDUs and gain valuable knowledge all from the comfort of your home, office--or home office. Join us Thursday, April 24 for PMXPO 2014! Six sessions full of enlightening project management lessons will cover important issues in spaces like IT strategy, agile PM, portfolio management, PMOs and Visual PM. And our keynote this year is a marvelous session sure to make you a heroic PM! Register today for the free event!
January 13, 2014 was an amazing day for us here at ProjectManagement.com. Everything you love about the site is about to get better. As a part of the PMI family, we will have the resources to step up our game and become more responsive to your needs than ever before. Our reach will grow exponentially, so more of your peers will be here to answer questions and to share ideas with. Some of these changes will take time and others you’ll see right away...read on for more about this exciting announcement.
It is dawning on me that in the world of project management (and business management in general), that we are too obsessed with managing complexity and reducing chaos which are becoming more inevitabl ...
One thing I try to do in this blog is make sure you are aware of areas where you may have misconceptions about what your workforce needs to be productive. After that, of course, I give you ideas to us ...
Regardless of the tool you use, your preference for Scrum or Waterfall, there are three things every project management solution needs: a prioritized backlog of potential projects; a centralized location for inbounding, evaluating and accepting or rejecting new work; and a way to involve the team in realistic resource planning. If your solution doesn't do these three things, you might be running in circles.
by Kevin Aguanno, PMP, MAPM, IPMA-B, Cert.APM, CSM, CSP
As the use of agile methods spreads into larger organizations, senior managers struggle to decide their agile adoption strategy. Here are three stories from three large Canadian banks who each took a different adoption approach.
In Part 1, you committed to getting in shape for the CAPM/PMP exam. Now you’re back and ready to start getting a little more serious. This second article of the series will show that the tough work doesn’t have to hurt as we ease in with a look at process groups.
Question: We have a massive internal change coming, and lucky me…I get to head the project! We have tried this before and had to pull back because of negative employee reactions. I know that this time we need some change management processes, too, but who is responsible to do that part of the project?
The good news is, it’s you. You need to take the responsibility and coordinate the change processes in with your usual team activities.
The good news is, it’s not you. Focus on the project and on meeting your metrics of time, cost and quality as usual. Corporate management is responsible to make sure employees accept and use these new changes.
The PMO is “where the buck stops” when endeavors move from simple projects to create products or software and billow out to vague objectives like “employee acceptance” and “corporate compliance”..
Ask your manager. Your project charter is limited to producing the usual product or services and your team is not skilled or experienced in change management processes. Your manager can deal with getting the changes accepted and getting them to stick.