John SchlichterFounder| OPM Experts LLC http://opmexperts.comAtlanta, Ga, United States
OPM3 describes the processes and practices necessary to translate strategies into objectives that guide the selection and prioritization of projects, as well as the processes for managing projects, which produce results. Much of this is characterized as Portfolio Management. It is not necessary to achieve all of the Capabilities of OPM3 in order to implement an OPM3-based system for advancing an organization's strategic intent through projects, but as a whole system OPM3 is designed for that purpose. If you want to focus on the link between strategy and projects, you may focus on the parts of OPM3 that prompt questions about this link, like the following questions. Is the portfolio of projects aligned to and managed according to the organization's business objectives? Do resource allocation decisions support the objectives of the portfolio and promote the success of the portfolio? Are the goals of each project described in the documentation used to authorize the allocation of resources to initiate each project? Does senior management review and agree to the goals of the projects? Does executive management participate in setting strategic objectives, and do the performance goals set for the executives relate directly to the strategic objectives? Are objectives defined and prioritized for the management and performance of the portfolio of projects? Are resources allocated to projects according to priorities that have been defined for the portfolio? Does the organization forecast the composition of the future project portfolio to assure the projects of the portfolio continue to support organizational strategy? Is there alignment between the goals of the projects and the objectives of the sponsors those projects? Do the projects of the organization support the organization's short-term business objectives? Do the projects and, if applicable, the programs of the organization support the strategic business objectives of the organization? Does the organization align the values, principles, norms, resources and initiatives of the portfolio to the organization's objectives and strategies? Do the projects of the organization support the organization's strategies? Does the organization evaluate the success of project selection and management processes in achieving strategic goals? Does the organization have standards for assessing the value of projects to the organization? Does the organization select projects based on the potential value that the projects will provide to the organization? Does the organization continuously review the value that the projects are providing to the organization? Are agreed upon criteria used to prioritize the projects of the organization? Are projects justified based on their contribution to organizational strategies? For more on this topic, see http://opmexperts.com/mb/viewtopic.php?t=38 Saving Changes...
