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PPM 101: Work Changes
Tom Mochal, PgMP, PMP, TSPM is the president of TenStep, Inc., a methodology development, consulting and training company. Tom won the Distinguished Contribution Award from the Project Management Institute for his work spreading knowledge of project management around the world. He is a speaker, lecturer, instructor and consultant to companies and organizations around the world.
When business conditions and priorities change, the approved work within your project portfolio will likely change as well. Here are some common scenarios that require new courses of action, and suggestions for integrating the work changes into your portfolio.
Done right, project portfolio management can do a lot of good for any organization. But it’s not easy, as many companies, large and small, have discovered. In PPM 101, an ongoing series by veteran project management consultant and author Tom Mochal, we focus on the fundamentals for organizations that are just getting started on the PPM path.
One of the benefits of portfolio management is that you define and manage a continuum of past, present and future work. This requires you to plan out your work in advance — for an entire year if possible. The job of managing a large portfolio of work would be difficult enough if everything could be executed as planned. However, in reality, you barely have time to get a stake in the ground when business changes put your carefully constructed plans in flux.
The first thing to accept is that there is nothing wrong with change. When business conditions and priorities change, the approved work within your portfolio will likely change as well. If you manage work as a portfolio, you should be able to respond and adapt intelligently. There are …
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