Lean governance is a term that is being thrown around a lot, but what exactly does it mean? And is it important for the future of PMOs? Yes, but the challenge for PMOs might be in creating the environment where they can leverage lean governance.
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Miss PMXPO 2021? It's now on demand through 31 January 2022! PMXPO is now a part of PMI’s Virtual Experience Series. Whether you’re a seasoned project manager or new to the field, PMXPO provides an excellent opportunity to learn, earn PDUs toward your certification, broaden your perspective on project management and connect with your global project management community. PMXPO is complimentary for members: non-members can attend for just $29 and take advantage of the on-demand offerings.
Advance Your Career
The 3P’s to Success (Purpose, People, Performance) is a business philosophy promoted in the book ‘The Business of Portfolio Management – Boosting Organizational Value’. The project economy can scale upwards so that value-based portfolio management becomes ‘a way of doing business’. However, that needs to be integrated business objectives. That is best done via a modern light version of a balanced scorecard for planning and reporting purposes. This presentation is focussed on the design, development, and deployment of a modern light balanced scorecard that allows for organizational-wide performance to be shown and communicated. EPMO and portfolio leaders in particular will benefit from its content and messages.
A topsy-turvy world requires thinking that challenges the status quo and seeks smarter ways of deploying the well-known portfolio management mantra of ‘doing the right things’. The world’s economies will struggle to recover from the global COVID pandemic, meaning organisations of all sizes will need to focus on well considered and planned activity and the selection of initiatives that provide the most business value towards business objectives and ultimately strategic goals. However, post pandemic factors will be at play that will limit achievement of success. This presentation offers perspectives and challenges together with some suggested solutions that should be considered and acted upon to maximise portfolio success. These will fire your imagination.
Save Time With Tools + Templates
This Excel heat map template gives you the ability to visually indicate your portfolio status to stakeholders by assigning data to a set of projects, which are displayed as bubbles of varying sizes. Adapt the axes names and data to fit your needs.
This Excel template helps you prioritize projects in your organization using objective criteria like strategic fit, economic impact and feasibility. You can adapt this template using other criteria that you can consider. This template helps you determine big-impact, top-priority projects for your organization.
Use this Excel sheet to monitor and projects in your portfolio. Report status and financials to have a global view of the portfolio, including risk levels for scope, schedule and cost.
This presentation looks at a brief history and a definition of agile project management; looks at factors that affect selection of collaboration tool-sets; and looks at key features of project portfolio management tool-sets and at making PPM a business process.
In addition to regular management activities, the portfolio should also be subjected to a more formal quarterly review, and that’s what this checklist is designed to support. It provides the portfolio manager with a structure for the review process and allows the meeting(s) with leaders to focus on the critical elements of the portfolio.
Learn From Others
As The Project Economy reimagines business around the concept of projects, the disruption to operations increases. The project delivery function needs to manage that if an organization is going to succeed.
Project leaders need to know where to focus their attention and teams at all times or they risk higher costs, missed deadlines and unhappy stakeholders. Ruthless prioritization keeps the things that would be nice to do from getting in the way of the work that matters most.
The COVID-19 pandemic is forcing organizations to rethink their strategy and refocus their investments. And just as our understanding of the crisis continues to evolve rapidly, our strategic response must, too, with continuous review and refinement to ensure it stays relevant. Here are four must-ask questions to support the process.
In uncertain times, you might not know how to approach your project portfolio. You might be tempted to continue with “business as usual”—even though our times are not at all usual. Instead, consider how you can rethink the value of each project and effort. The results might surprise you.
Successful product leaders need to delegate most hands-on product work, focusing instead on leader-level activities. That means understanding what each team member can handle, having an upskilling plan, and building trust.
Even as the world economy and individual business deal with the fallout of the COVID-19 coronavirus pandemic, leaders need to get focused on how to build a better organization going forward. Here are some questions to ask and areas of investment to consider.
When business priorities change, projects get put on hold. As the project manager, you might then have to take on a different project. But how should you manage and report a project that is paused? Read these tips for moving a project to “on hold” status.
Organizations approve more initiatives than they are capable of delivering, creating frustration when those projects fail to achieve expected results. Why is there a reluctance to reduce the number of projects in progress? More important, how do we change that mindset?
Do large-scale philanthropic initiatives have something to teach us about how portfolio, program and project management gets done?
Organizations are now starting to shift to a portfolio focus, viewing their strategic initiatives as part of an integrated whole rather than as standalone elements. When you take that integrated view, the success or failure of an individual project becomes less important—and sacrificing it becomes a real possibility.
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