Executives need the project management office (PMO), according to speakers at the PMI® PMO Symposium. It's the primary enabler of change -- a powerful force in today's constantly shifting marketplace, said Terry Doerscher of BOT International, the featured speaker on Tuesday night.
As a result, he argued that PMOs of the future would include all aspects of the business, not just projects and programs.
And that could mean a whole new career path for project professionals with the right skills. "It's not a huge leap to go from a portfolio project manager to an executive project manager," he said.
But it's up to PMO leaders to take action to fulfill their vision.
"The best way to predict your future is to create it," said Greg Miller, vice president of the PMO at CareFirst Blue Cross Blue Shield, during a panel discussion on the strategic PMO.
Mark A. Langley, PMI president and CEO, moderated the panel, which also included Human Systems International Limited's Terry Cooke-Davies, PhD, and Microsoft's Bill Dow.
Dr. Cooke-Davies asked attendees to remember that portfolio management is about aligning project and program costs with business value, and program management is about delivering strategy. When organizations forget those roles, though, PMOs become nothing but process police.
Mr. Miller outlined what PMOs need to show executives to be viewed as a strategic player:
Between the panel discussion and the featured speaker, attendees networked with peers and participated in breakout sessions.
At one of those sessions, Jim Furfari, PMP, of Colorado Springs Utilities, led a discussion on how to prioritize projects. At his organization, the process begins by checking the availability of resources. This prompted lively discussion, as many attendees suggested the availability of funds was a more appropriate place to start. "It makes no sense to prioritize projects that you don't have the resources to do," he explained.
In another breakout session, Joseph Sopko of Siemens, co-author of The Guide to Lean Enablers for Managing Engineering Programs, said lean principles make "good sense, but they're not common." These principles are often lost in complicated processes and with a "we've always done it this way" attitude.
Among the best lean practices he outlined were defining value to the program stakeholder and making imperfections visible while pursuing perfection at the same time.
Uncertainty Calls for Agility, Courage, Strategy — and Some Fun, Say Experts at the PMI® PMO Symposium
PMI PMO Symposium 2012
Categories: PMI PMO Symposium 2012
|Extraordinary, unprecedented change in the business world requires bold new thinking -- with project management offices (PMOs) helping lead the charge, according to opening day speakers at the PMI® PMO Symposium 2012 in Las Vegas, Nevada, USA.|
High uncertainty and constant change is the new normal -- and it's here to stay, declared featured speaker Roch Parayre, PhD, teaching fellow at the Wharton School of the University of Pennsylvania. "We live in a world of high uncertainty."
Yet organizations still plan for the predictable -- and then are unprepared for what actually unfolds. Instead, organizations should stick with their core, but always have a "portfolio of micro-investments bubbling away on the back burner so you're ready for changes," he said.
Procter & Gamble, for example, may try out a new scent, but it won't roll it out to its megabrands until it's been proven on its secondary lines.
"Strategy is about balancing commitment with flexibility," said Dr. Parayre.
That delicate balance may require some painful decisions, however. PMOs must be willing to act like venture capitalists, absolutely ruthless about quickly getting rid of projects before they invest too much. "Our inability to kill things is probably the number-one barrier to adapting to change," he said. "Every organization should have a VP of killing stuff."
Dr. Parayre pointed to 3M, which actually honors its failed projects at a ceremony, with winners based on how much learning came from the failure.
For truly breakthrough projects and programs, organizations must have the "courage to try risky concepts" backed by a belief they will succeed, said keynote speaker Burt Rutan.
A pioneering force at Virgin Galactic, Mr. Rutan is also the man behind the legendary Voyager, the first aircraft to circle the globe nonstop without refueling, and SpaceshipOne, the world's first privately funded spacecraft.
Yet just pouring funding into a program doesn't ensure innovation. Teams must know that "confidence in nonsense is allowed" -- that they can try things that may not work.
Mr. Rutan also suggested:
"It's not enough for kids to look forward to an iPhone with new features," he said. "We need to look forward to real adventure and real discovery."
And even in an understandably risk-averse business climate, Mr. Rutan said organizations can't just issue "flowery words" about innovation. "They won't have breakthroughs unless they're willing to take in-your-face risks," he said.
Organizations must be able to respond to market shifts -- and PMOs can be the enablers of that organizational agility, said opening speaker Mark A. Langley, PMI president and CEO.
"All strategic change happens through projects and programs," he said.
Yet despite wider adoption of PMOs, CEOs remain confused about projects and programs. PMO leaders must speak the language of business; instead of focusing on the activity, talk about the outcome.
Mr. Langley also called for new thinking on talent. There will be an average of 1.2 million project management positions open annually through 2016, according to the Anderson Economic Group. The result is a massive talent gap that will demand different approaches to talent management. And that should include a willingness to build the next generation of business leaders from the project portfolio management space.
Mr. Langley also announced a new seminal research project on PMOs, with the results to be revealed at next year's symposium.