This is the second of six articles on best practices in benefits realization management and its integration into project governance. In the BRM discipline, projects and programs are aligned with strategic objectives to generate verifiable value. This happens through three stages: benefits identification, benefits realization and benefits sustainment.
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If you perform business analysis, your work is vital to project and program success. To most effectively support your organization and advance in your career, you need to know how to apply BA to any situation and delivery method. The new PMI Guide to Business Analysis will help you achieve this! Get an exclusive preview, with in-depth insights, at the PMI Business Analysis Virtual Conference 2017.
Risk, cybersecurity, artificial intelligence, the Internet of Things—as technology transforms project management, PM professionals are either ahead of the game, or falling behind. Stay current and competitive with the 2017 PMI Information Systems & Technology Symposium. Exclusive to PMI members, this free, virtual event delivers a full day of intelligence on innovation and its impact on your PM career. • Gain insight into the tech-driven trends disrupting our industry, without leaving your desk • Network with the PMI global community while developing the skills organizations are looking for today—and tomorrow • Earn 6 PDUs • Get actionable intelligence you will not find anywhere else, tailored specifically for project and program managers Register today— Here are more details on sessions and speakers.
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Success is only possible when initiatives and projects are aligned with strategic direction and a mechanism is in place to keep a check that all efforts are contributing to the desired value and the strategic goal. Portfolio management helps to keep the direction and evaluate the advancement in a right direction.
December 2017 Book Club Q and A Closing Webinar – The Business of Portfolio Management – Boosting Organizational Value
Closing Q and A webinar for December 2017 Book Club on The Business of Portfolio Management – Boosting Organizational Value by Iain Fraser
Project management helps advancement for strategic implementation that requires an environment to create a “Thinking Organization”. Every team member needs to behave like a “strategic leader” and develop a driving force for a thinking organization.
This is the 5th annual PMI Santa Series. Organizational Project Management (OPM) is the systematic management of projects, programs, and portfolios in alignment with the achievement of strategic goals. Sounds great yet how do we actually translate that into our daily project management work?
Save Time With Tools Templates
While numerous key performance indicators (KPIs) typically influence IT projects generally, the benefit of tracking all of them may be outweighed by the cost to do so. Therefore, each project must carefully select and manage those KPIs most relevant to its specific situation. This sample template can be used to define KPIs; also included is a table with examples of possible KPIs for each of the previously defined project-critical success factors (PCSFs) and a metric (measure and dimension) for each KPI. Use in conjunction with the article Determining IT Project Health.
Learn From Others
The Intelligence Community (IC) is an enormous, departmentally diverse community in numerous agencies, and covers a large range of individual intelligence efforts. Both law enforcement and the military rely on and make up part of the IC. Though the efforts are continuous and cyclical, there are numerous one-time activities that are not replicable, and are designed to answer specific questions for policy makers and other consumers of intelligence. The sum effect of an IC PMO may prove invaluable when trying to improve the efficiency and accuracy of the IC.
This is the first of six articles on best practices in benefits realization management and its integration into project governance.
How is automation going to affect project management—and, more importantly, project managers—in the short and long term as it evolves?
Nations are targeting better and more sustainable economic growth that requires high infrastructure investment. Public Private Partnership (PPP) helps bridge the budgetary gap, as well as being a method for cost-effective and quality service delivery.
With 2017 almost in the rear-view mirror, it’s time to turn our gaze on achieving CIO success in 2018. Let's reflect on the plusses and minuses of 2017 performances in terms of what added to our success—and what led us away from it.
Commitment to quality and implementation of programs aimed at process improvement are becoming focal points to increase overall performance. The incorporation of total quality management (TQM), a leading management philosophy, with strategic planning is natural and inevitable.
Whether or not you acknowledge it, the more importance you give to strategy, the less financial value you are able to extract from your portfolio; the converse is also true. What algorithm can we apply to portfolio selection in order to get the best out of strategy and the best out of economics?
Given the growing impact of emerging technologies, the merger of IT strategy and business strategy is inevitable as keeping up with advancing technologies is a strategic business imperative. Many are questioning the role IT plays—and are positioning the business side as being responsible for the technology strategy.
While portfolio tools may be nice and shiny and promise great things, you should not be taken in by their enticing appearance. Instead, look at the root levels of what they can do. Can it help with existing or undeveloped functions? Do you really need one at all?
Portfolio management in today’s world has little to do with project management and everything to do with business management. Is that how your organization operates?
If the primary reasons for portfolio management start with resource constraints, you’re probably wondering how we got to strategic alignment. And that, dear reader, would be an excellent question...
Defining what PPM means in the context of an organization isn't easy. One thing is for sure: Portfolio management is a complex management undertaking that continuously challenges even the most seasoned professionals. So the question that often arises is: What makes this so complex?
By one measure, portfolio management is a specialized discipline best suited for organizations with high project management maturity. How do you know when it makes sense to add a portfolio management function or office to your organization?
One of the fundamental tenets of portfolio management is the concept of a portfolio lifecycle, from planning through delivery and benefit attainment. The problem? That’s completely wrong.
Organizations know they must evolve their strategic planning and delivery to reflect the ever-changing demands of today's marketplace, but fewer have recognized the disruption under way in the workforce. Modern ways of working require a modern approach to strategy.
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