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Date
Continuing our look at the top ten PM trends from our last post, we look at Trend 7, The Significance of Programme and Portfolio Management.
Here’s what the Trends (see part 1 - this is from TwentyEighty's recent Top Ten Trends of Project Management 2016) have to say:
“With the increased focus on bridging the gap between strategy and execution, portfolio and programme management are emerging as key components in making that happen. What does this mean for project managers?”
Understanding how various projects affect others while maintaining a strategic perspective requires PMs to be able to focus on the details as well as step back to a more strategic, multi-project viewpoint.
And our take:
This is an important trend, but in our opinion, could use a little more focus. We’ve written about this in both of our books, and even feature it I the title of the second, “Driving Success in Project, Program, ad Portfolio Management”. Rather than repeating sections of that book here, we want to highlight some key points:
- Most companies have embraced the triple bottom line (social, ecological, and economic) for measuring success, and these have found their way into the mission, vision, and value statements of these companies
- Projects, programs, and portfolios are the key connection point between the high-level ‘ideation’ of the organization, and the day-to-day operations.In other words, projects are the ways in which ideas become reality
- As we know, PMI’s ‘hierarchy’ is from Portfolios (closest to the ‘Mission’ level) to Programs, to Projects
- Combining the first three bullets, since we project managers are the connection point to mission statements which increasingly call for sustainable thinking, it should follow that we need to consider sustainability concepts in the planning of our projects and in the products they deliver.
So what is the bending of the trend that we recommend?
Take seriously what was said in the trend but also consider the sustainability angle. Remember – think strategically, and assure that you can easily link your projects’ objectives to the mission, vision, and values of the company and in particular, consider how your projects’ objectives – often outcomes that are around for years, and/or are producing byproducts that may be around for years – are linked to strategic (and often very public) statements about social and environmental bottom lines that are made by your organizations’ leaders.
Posted
by
Richard Maltzman
on: March 19, 2016 10:21 PM |
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