In Part 3 of our look at political challenges for portfolio-focused PMOs, we explore project delivery work and some of the political challenges involved.
In this culturally rich webinar, the author proposes a new approach to analyze failure in projects: exploring common behavioral issues that leads to failure in management. At the end of this webinar, the attendee will have a clear picture of how behaviors affects the project results, and will visualize the necessary skills to address them.
Do you find yourself thinking that this benefits management stuff just seems really complicated and you’re not sure what to do? Then this webinar is for you!
This webinar brings you coaching concepts that will help to apply these concepts on your life to boost your personal efficiency, helping to align your personal goals, priorities, activities and more. These are important concepts for any professional who wants to improve results, not only in the professional life but in the personal life.
In this webinar, the author applies concepts of strategic planning, change management and soft skills development, to provide a practical approach to increase PMO's value, helping to change perceptions such as "being a process cop", to create a culture where the stakeholders understand the value of the project management and become evangelists of the best practices.
Santa has performed an organizational assessment and is considering new portfolio ideas to move into the 21st century. One of the business case "winners" is drone delivery. Let's consider and evaluate the business benefits associated with this business idea. Shall the elves leap to implement this or is project execution caught in the fog of cloud business hype?
Regardless of whether they are quantitative or qualitative, when a project’s benefits are managed and realized, an organization ensures that the time, effort and monetary resources invested in projects have the greatest possible business return. Yet far too few organizations have an effective benefits realization management process in place. In fact, many have no benefits management plan at all and are missing an opportunity to understand what would help them increase their rate of project and overall strategic success.
This webinar focuses on what portfolio, program, and project managers can do to lead and drive a business transformation undertaking within their organization to success.
This blog will look at the practice of benefits realization and how it applies to both Program Management and the overall Portfolio, Program, Project Methodology (as well as Business Analysis and Organizational Change Management)
Save Time With Tools + Templates
Large projects often require tracking by work streams. Work streams are the progressive completion of tasks by a specific group or project team. For example, the work streams for a manufacturing facility may include engineering, drafting, procurement, fabrication, quality control and shipping.
This tool tracks progress against proposed benefits for all project benefit metrics. It compares commitments/projections made in business cases with the actual outcomes. If your projects have purely objective metrics and you monitor performance over a fixed time period, you may wish to repurpose this template into Excel to take advantage of the calculation ability. For subjective metrics and/or variable time periods, this Word version provides more flexibility and easier tracking.
To be used in conjunction with Evaluating Benefits: Getting Statistical (Part 2). This template evaluates uncertain revenue. Probabilities describe the area under the curve to the right of the planning estimate, answering the question, "What is the probability of earning at least $X or more revenue?"
Learn From Others
As a portfolio-driven approach to project delivery shifts the focus from outputs to benefits, changes become much more common and the organization needs to also shift from a control-based change management environment to a culture that empowers its project teams to make clearly communicated course corrections along the way.
We all recognize the importance of benefits realization management. But benefits are identified and derived from the business case. Without a realistic business case, benefits realization management is hardly worth the effort. A development process based upon an iterative model and the use of best practices can increase the quality and trustworthiness of the business case.
How do you verify when your project output is fit for handover to the business or operations team? This article makes the case for assessing benefits capture readiness as part of your transition preparation strategy, and reveals how to do just that.
Project management is becoming increasingly focused on benefits. Can service management make a contribution toward improving benefits performance after the project is finished?
|A.||The economic marketplace is so dependent on stakeholder interpretations of the news and political events that it is impossible to try to predict the value of organizational projects in the future. Since 2011, businesses no longer use the present and future monetary calculations in their strategic planning.|
|B.||When choosing projects, the one which will offer the highest return on investment is always the best one to choose. Financial value, even if it is delayed longer into the future, is always the wisest way for an organization to direct its investment dollars.|
|C.||Present Value (PV) and Future Value (FV) can be used to see how much business value a project can provide to the organization in the future. It allows mathematical calculations to pinpoint amounts rather than just predictions of good “growth” or “return.”|
|D.||There are many types of value for a company to consider. Each project can be focused to lead to whichever type of value is most important to the organization, but only one of four portfolio value categories for projects can be met by a single project.|
Let’s face it: In the project/program/portfolio management world, delivering real value seems to be the most elusive aspect of any PMO. And because of this, the PMO seems to be one of the first places organizational leaders look to “right-size” or “optimize,” reducing the impact and potential value PMOs might generate for their organizations.
’Tis the season for New Year’s resolutions. But instead of gym memberships and bucket lists, what about concentrating this year's resolutions on your PMO? Try this list on for size. It's designed to give you and your PMO a successful, prosperous and benefit realized 2017.
Developing the business acumen to understand and provide the right feedback to senior leadership to pick and choose the right projects that will help achieve the larger strategic objectives is essential for the modern-day PM. Are you ready for the challenge?
Nowadays, executives are called to manage strategic programs and projects that also consider sustainability. To help with this, modern management should make sure that every single project is a M.A.S.S.I.V.E. one.
Projects are undertaken to deliver business benefits. How well does our risk management approach support the protection of those benefits?
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