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PPM 101: For Comparison’s Sake
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 prioritizing a portfolio of projects and other IT activities, you can improve the decision-making process by grouping work requests from various department and categorizing them according to general business needs and benefits. Here are some basic guidelines.
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.
When you are prioritizing the potential work requests in your portfolio, you first prepare a short Value Proposition. Many work requests will get postponed or cancelled once the weak Value Proposition is written. You then create a more detailed Business Case for the remaining work to describe the high-level costs and benefits of the work.
Let’s assume you are prioritizing the work of the IT portfolio and that many business units are requesting work from IT. There are a finite number of resources in the IT organization, so the Business Cases from the various business units must be compared to determine which work is most important and which work is best aligned.
The overall prioritization of work for the IT organization…
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