I am trying to develop a framework for categorizing the categories of projects managed across my electric utility organization. What are some common triggers that help to define a project category as well as the thresholds for each trigger in each project category? Thank you! Saving Changes...
Project taxonomies are unique to an organization and should be driven by the portfolio evaluation needs of the leadership team. Sometimes these categories are based on the business drivers (e.g. profitability, efficiency, compliance) whereas others are based on the functional alignment of the project (e.g. HR, operations, technology).
Kiron
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1 reply by anonymous
Aug 27, 2019 11:01 AM
anonymous
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Kiron, do you have any insight on categories in electric utility industry? Construction and non-construction type projects.
There are a variety of project categories, but at a top level they generally fall into New Product and Changed Product. Product itself can be a very broad term to include an organizational structure for example. New product categories are highly dependent on the industry. Product changes can be split into categories such as Cost, Producability, Quality, Functionality etc. Projects can be mandatory or discretionary, they can be customer driven or internally driven. Projects may create products that can be produced in parallel with existing products, or may replace the existing at some cutover point. There really are a lot of ways to categorize them, depending on the business needs.
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1 reply by Kay Chung
Aug 27, 2019 11:00 AM
Kay Chung
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Keith, do you have any insight on categories in electric utilities?
There are a variety of project categories, but at a top level they generally fall into New Product and Changed Product. Product itself can be a very broad term to include an organizational structure for example. New product categories are highly dependent on the industry. Product changes can be split into categories such as Cost, Producability, Quality, Functionality etc. Projects can be mandatory or discretionary, they can be customer driven or internally driven. Projects may create products that can be produced in parallel with existing products, or may replace the existing at some cutover point. There really are a lot of ways to categorize them, depending on the business needs.
Keith, do you have any insight on categories in electric utilities? Saving Changes...
Anonymous
Aug 26, 2019 4:42 PM
Replying to Kiron Bondale
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Project taxonomies are unique to an organization and should be driven by the portfolio evaluation needs of the leadership team. Sometimes these categories are based on the business drivers (e.g. profitability, efficiency, compliance) whereas others are based on the functional alignment of the project (e.g. HR, operations, technology).
Kiron
Kiron, do you have any insight on categories in electric utility industry? Construction and non-construction type projects.
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1 reply by Kiron Bondale
Aug 27, 2019 6:41 PM
Kiron Bondale
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That isn't an industry I am knowledgeable of but would suggest your portfolio decision makers probably have certain dimensions which they already use to analyze investments so would suggest interviewing them.
Kiron, do you have any insight on categories in electric utility industry? Construction and non-construction type projects.
That isn't an industry I am knowledgeable of but would suggest your portfolio decision makers probably have certain dimensions which they already use to analyze investments so would suggest interviewing them. Saving Changes...
I'm not an expert in the field, but even there some of the basic principals apply: Are you developing new capacity, or are you improving existing infrastructure? What is the power source?
You need to start by asking the macro level questions of what is important to you. Saving Changes...
