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Simple and effective automation can be used to publish and communicate one-page (or dashboard) project status reports using MS PowerPoint. This is one of the many uses possible and can be adapted to other needs. This approach, involving some VBA programming, can reduce repetitive and periodic tasks of reporting and uploading status reports.
Projects may be unique endeavors, but they can’t be managed in isolation. They must be integrated and assessed within the context of strategic enterprise goals — a portfolio-level perspective enabling synchronized adjustments on the way to delivery. And this requires project leaders to adjust as well.
In the first article of this series, we looked at annual planning processes and the role a strategically focused PMO should play in that foundational element of portfolio management. Continuing the look at political challenges for portfolio-focused PMOs, we look at the impact on project initiation and planning.
With more focus on strategy, more tool-driven automation and more diversity in project approaches, is there still a place for a PMO-driven center of excellence for project management?
Project selection is a widespread challenge that requires a single point of accountability — ideally, a strategic project management office — that can provide the infrastructure and information support necessary to execute a ‘whole portfolio’ approach that is flexible and adaptable to ever-changing needs.
CRM and PPM tools have a lot in common, so should organizations be looking to integrate them or treat them differently?
In order to move forward, you must sometimes look back—and see that some patterns have surfaced. These are no longer trends, but core competencies of the market. This year, expect to see a renewed interest in some of these tried-and-true methodologies.
The most effective project portfolio planning brings IT managers and business leaders together to prioritize, scope and staff initiatives as a single team with common goals. In doing so, the process fosters better working relationships — and provides a roadmap for delivering value to the organization.
| A. | The economic marketplace is so dependent on stakeholder interpretations of the news and political events that it is impossible to try to predict the value of organizational projects in the future. Since 2011, businesses no longer use the present and future monetary calculations in their strategic planning. |
| B. | When choosing projects, the one which will offer the highest return on investment is always the best one to choose. Financial value, even if it is delayed longer into the future, is always the wisest way for an organization to direct its investment dollars. |
| C. | Present Value (PV) and Future Value (FV) can be used to see how much business value a project can provide to the organization in the future. It allows mathematical calculations to pinpoint amounts rather than just predictions of good “growth” or “return.” |
| D. | There are many types of value for a company to consider. Each project can be focused to lead to whichever type of value is most important to the organization, but only one of four portfolio value categories for projects can be met by a single project. |
Some organizations try to streamline the process of developing business cases and end up missing great opportunities. But turning ideas into realistic, executable plans should, in fact, be a complex journey, from screening to rationalization to approval. Here are essential steps to make the time and effort worthwhile.
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"History may not repeat itself, but it does rhyme a lot." - Mark Twain |
