meeting enterprise goals through project and portfolio management (PPM) Steve Romero PMP, CISSP, CPM IT Governance Evangelist
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1 meeting enterprise goals through project and portfolio management (PPM) Steve Romero PMP, CISSP, CPM IT Governance Evangelist
2 PPM: an immature enterprise process Forrester Research Inc. 60% of companies have some form of PPM, though immature My experience: Visited more than 100 companies around the world All of them had immature PPM Almost always driven/sponsored by IT/CIO Addressing only a subset of PPM capabilities Addressing only a subset of Enterprise investments Spotty, Business Unit specific implementations Almost always relegated to IT Not thoughtfully and thoroughly implemented Devoid of passionate process ownership and management 2 April 2010 CA Clarity Marketing Copyright 2010 CA
3 sound familiar? We don t have enough resources to get the work done. In our organization, there is no real portfolio planning. We don t prioritize our projects, or every project is a #1 priority, or our priorities are constantly changing with no explanation. Everyone is doing end-runs around the approval process. Funding tends to be very political. We can t kill a project. If we do kill a project, it always seems to show up again. We never have any objective measurements to overcome the politics in decision-making. We get funding to build duplicate systems for different business units and the end result is an ever-growing set of unsupportable redundant applications. 3 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
4 understanding the problems the first step Wrong projects not linked to strategy/goals Projects are not prioritized Too many projects not in line with resources Projects use strategic resources inefficiently Projects invest in non-strategic systems and applications Projects are not monitored and managed collectively to determine if projects should be slowed, stopped, helped or modified tradeoffs are not identified and exploited Unbalanced investment mix (supply/market-side, venture, short/long-term, development, research, innovation, growth, operational improvement or maintenance, mandated investments) 40% of IT projects fail to deliver intended results (cost, schedule, performance) Standish CHAOS Report 2009 Highest Failure Rate in a Decade 32% Succeeded 44% Challenged 24% Failed 4 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
5 addressing these challenges: two dimensions Doing the right things Doing things right The ability of the enterprise to ensure strategic alignment and maximum value of the overall portfolio of investments PPM An organization s ability to make the best use of its people, budgets and assets PMO 5 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
6 project and portfolio management (PPM) an enterprise process While being tied largely to IT and fairly synonymous with IT Portfolio Management, PPM is ultimately a subset of corporate portfolio management and should be exportable/utilized by any group selecting and managing discretionary projects PPM is not just about IT! 6 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
7 why are enterprises addressing PPM? it is about IT! Enterprises want to effectively spend new IT dollars The business wants to hold IT accountable for all costs IT and Business Units recognize the need to collectively govern new investment decisions IT wants to improve their relationship with the business new projects are the primary interface other than the Help Desk Many organizations mistakenly equate PPM to IT Governance and believe they are addressing IT Governance Ideally but seldom implemented as part of a larger IT Governance initiative 7 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
8 obstacles inhibit doing the right things Overwhelming Demand: Unstructured capture of requests and ideas No formal process for prioritization and trade-offs Reactive vs. proactive IT and Biz Divide Business thinks in IT services IT delivers in technology terms Costs disassociated with services IT Seen as Black Box: Business lacks visibility Poor customer interaction 8 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
9 inefficiency hinders doing things right Complex System Environment Difficult to manage and use Costly to maintain and upgrade Where s the information? Decentralized/disorganized Lack of meaningful metrics Inconsistent use of information Disparate Systems IT System silos Lack of integration 9 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
10 ITG and PPM the blueprint for success 10 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
11 what is IT governance? Structure of relationships and processes to direct and control the IT enterprise to achieve IT s goals by adding value while balancing risk versus return over IT and its processes. IT Governance Institute. All rights reserved. The processes that ensure the effective and efficient use of IT in enabling an organization to achieve its goals Gartner, Inc. All rights reserved. The process by which decisions are made in IT investments Forrester Research, Inc. All rights reserved. Simple Version - The processes and relationships that lead to reasoned decision-making in IT 3 Key Questions: What decisions need to be made? Who is accountable for making the decisions? How will the decisions be made? 11 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
12 PPM in an IT governance context Engaging with IT's customers to make fact-based decisions through the use of portfolio management What investment decisions need to be made? Who is accountable for making investment decisions? How will investment decisions be made? Decisions require fact-based information This requires a systematic approach to collect, integrate, analyze and provide meaningful data 12 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
13 the CIO s information challenge Too much data about some things No data about other things Stored and presented haphazardly Often not relevant or useful s I have not had the kickoff meeting with the business sponsors Spreadsheets System Upgrades, Budgeted: $75K Actual: $82K EAC: $136K Scheduling Software ICDW98 Project: Start: 1/19 End: 5/16 Requirements Docs Document Management Help Desk New Financials system New doc added: Skills by Resource June 7 Total Requests: 318 Resolved: 100 avg Response time: 3 hrs Meeting Notes Issues with SixSigma project. Impact on Organizational Excellence goal? Manual Processes Procure-to-pay process, updated 3/16 Custom Databases Resources with Novell certification: 4 13 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
14 too much information, too little sharing 47% of IT Managers spend 30% of their time trying to get the right information (as opposed to 25% for non-it Managers) 42% say they have too much information 44% complain other departments are not forthcoming with information 39% say they can t determine what information is current 38% must weed out duplicate information 21% don t understand the value of received information 84% collect and store information on their own hard drives and accounts Source: InformationWeek, January 6, May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
15 PPM definitions vary Project Portfolio Management is a continuous loop of communication that enables an IT organization and the business to collaboratively plan and manage IT investments Forrester, Inc. All rights reserved PPM is a term used by project managers and project management (PM) organizations to describe methods for analyzing and collectively managing a group of current or proposed projects based on numerous key characteristics. Portfolio management is the centralized management of one or more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs, and other related work, to achieve specific strategic business objectives Project Management Institute, Inc. All rights reserved 15 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
16 Scope of Work the P s in PPM Strategic Portfolio Management Portfolio Scope Definition Overall investment, benefit, risk optimization Active portfolio performance monitoring Business environment change adaption Program Management Comprehensive program planning Change and risk management Coordination of project delivery Measurement of results Business-IS collaboration Tactical Project Management Initiation Budget Schedule Resources Deliverables Scope Risks Metrics Scope of Initiatives Business Unit Enterprise 2006 Gartner, Inc. All rights reserved. 16 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
17 the goal of PPM the key to success ENTERPRISE: The fundamental objective of the PPM process is to determine the optimal mix and sequencing of proposed programs and projects to best achieve the organization's overall goals IT: The goal of Project and Portfolio Management is to ensure that an organization s overall portfolio of IT-enabled investments is aligned with and contributing optimal value to the organization s strategic objectives by: Establishing and managing resource profiles Defining investment thresholds Evaluating, prioritizing and selecting, deferring, or rejecting new investments Managing the overall portfolio Monitoring and reporting on portfolio performance ITGI Copyright IT Governance Institute Val IT Framework 17 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
18 IT governance decisions PPM addresses 1 of the 5 major decisions IT Investment and Prioritization - Choosing which initiatives to fund and how much to spend How much do we spend? What do we spend it on? How do we reconcile the needs of different constituencies? Ensures IT spending reflects strategic priorities Requires business-led and ITenabled Portfolio Management 18 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
19 a simple view of PPM 4 fundamental questions The simple charter of PPM: Should we? Can we? Are we? Did we? 19 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
20 PPM governance committee almost always the first step Ensure the right people are involved CIO Committee Chair balancing Facilitation and Leadership Core Business and Functionality Leadership Decision-makers CFO Dual role: Functional and financial consultant Other IT Staff Expertise and insight as required Major Decisions Go/No-go Kill/Fix Benefits Review 20 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
21 5 steps to effective project and portfolio management 5 Assess Results 4 Connect Delivery to Plans 3 Make the Hard Decisions 2 Establish Investment Criteria 1 Model the Portfolio 21 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
22 approaches to PPM many models Common Portfolios Run Doing what we do Grow Doing more of what we do Transform Doing different Peter Weill, MIT CISR Sloan School of Management Transactional to cut costs or increase throughput for the same cost Informational to provide information for any purpose Strategic to gain competitive advantage or position in the market Infrastructure the base foundation of shared IT services used by multiple applications Forrester, Gartner, Deloitte, PWC, Accenture, etc. 22 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
23 the essence of PPM decision-making criteria The decision to invest in a project should be made based upon criteria measuring the relative benefits (e.g. supporting enterprise goals) and its relative cost and risk to the organization. The portfolio of projects should be grounded in some financial objective such as increasing shareholder value, top line growth, etc. PPM attempts to address issues of resource allocation, e.g., money, time, people, capacity, etc. Risks must be computed in a statistically, actuarially meaningful sense. 23 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
24 PPM ensures we do the right things Typically expressed in terms of hard economic measures, business strategy goals, or technical strategy goals - while honoring constraints imposed by management or external realworld factors. Typical attributes of projects being analyzed in a PPM process include: Each project's total expected cost Consumption of scarce resources (human or otherwise) Expected timeline and schedule of investment Expected nature, magnitude and timing of benefits to be realized - Value Relationship or inter-dependencies with other projects in the portfolio 24 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
25 a great business case The business benefits targeted, their alignment with business strategy - who in the business will be responsible for securing them The business changes needed to create additional value The investments needed to make the business changes The investments required to change or add new IT services and infrastructure The ongoing IT and business costs of operating in the changed way The risks inherent in the above, including any constraints or dependencies Who will be accountable for the successful creation of optimal value How the investment and value creation will be monitored throughout the economic life cycle, and the metrics to be used ITGI Copyright IT Governance Institute Val IT Framework 25 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
26 PPM includes project execution should we continue the project? Portfolio Management continues beyond the project investment decision more than just go/no-go Approved investments should be managed actively on a continuing basis and not considered just when approval is sought Involves continued analysis of the portfolio Monitoring each investment for its relative contribution to enterprise goals versus other portfolio investments Answers the fundamental question: Is the investment decision still valid? 26 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
27 PPM includes project execution should we kill it or fix it? Is the project performing below expectations? (schedule or cost overruns, benefit erosion) Is the project still aligned to business objectives? (which constantly change) Management must decide: To make the necessary project/portfolio adjustments to improve performance To make the necessary project/portfolio adjustments to maintain alignment To kill the project to eliminate further investment and redirect resources towards other projects that better fulfill business objectives 27 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
28 PPM metrics Increase of revenue attributable to the Portfolio Development of new markets and expansion of customer base as a result of the portfolio Cost reductions attributable to the portfolio Change in net present value (NPV) of the portfolio Return on investment from the portfolio Internal rate of return (IRR) of the portfolio Degree to which the portfolio and business risks have been reduced by undertaking the portfolio components Availability of resources needed to support the portfolio components, both as planned and in execution. 28 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
29 PPM metrics % of investment decisions influenced by PPM Committee % of projects aligned with organizational goals % of projects reviewed during execution by Executive Management % of healthy Projects % of projects delivered ahead of schedule % of actual value versus expected value % of projects that meet or exceed expected value Executive satisfaction with PPM survey based 29 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
30 PPM metrics Category Key Question Sample Metrics Portfolio Mix Demand & Capacity Value Portfolio Health Is our funding aligned to strategic objectives? Do we have the right prioritization and sequencing of projects given capacity? For our portfolio, to what extent did we achieve our objectives? For projects in-flight, how is our execution progressing? % portfolio spend in run the business, grow the business, and innovate the business % of Portfolio in Short/Medium/Long-term Projects % of Portfolio in Large and Extra Large Projects % growth in project intake % growth in initiatives IT resource utilization Business resource utilization Recruiting pipeline % on time % on budget Portfolio and Sub-portfolio IRR # function points delivered vs. plan $ saved for consolidation efforts Counts and amounts for projects in Red/Amber/Green status # issues by severity: opened, closed, on-hold Financial Management How effectively are we managing project budgets and what are financial trends? % variance to plan % funding in-flight $ committed but not spent Earned value PPM Dashboard care of Diamond Management Consultants 30 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
31 problems plaguing organizations today PPM is needed to address each of them Wrong projects not linked to strategy/goals - chooses investments and ensures they fulfill the strategy Projects are not prioritized - priority decisions Too many projects not in line with resources - determines if projects can be done No formal project/program approval process - approves/rejects project requests Projects use critical resources inefficiently - ensures appropriate use of critical resources Projects invest in non-strategic systems and applications - focuses investment on most strategic applications (APM) Projects create redundant applications - compares investments - sees the whole Funding tends to be very political - provides objective criteria for funding approval We can t kill a project. If we do kill a project, it always seems to show up again - provides oversight to fix or kill challenged projects Projects are not monitored and managed collectively - slows, stops, helps, modifies projects for portfolio success Unbalanced investment mix (supply/market-side, venture, short/long-term, development, research, innovation, growth, operational improvement or maintenance, mandated investments) - ensures portfolios fulfill business strategy 50% of IT projects fail to deliver intended results (cost, schedule, performance) - determines what should be done and if it can be done 31 April 2010 CA Clarity Marketing Copyright 2010 CA
32 a simple view of PPM 4 fundamental questions The simple charter of PPM: Should we? Can we? Are we? Did we? 32 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
33 how do we accomplish the objectives of PPM? Requires a holistic view of the entire IT portfolio across the enterprise Projects People Applications Assets Demand Services 33 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
34 project portfolio A collection of projects or programs grouped together to facilitate the effective management of that work to meet strategic objectives Necessary for reliably understanding and delivering to business goals & expectations Captures all projects across the IT organization, both large & small Provides visibility that enables management of all projects as a whole - allowing tradeoffs among projects 34 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
35 application portfolio > IT Application Portfolio Management (APM) attempts to use the lessons of financial portfolio management to measure and justify the financial benefits of each application in comparison to the costs of the application's maintenance and operations. Large organizations have thousands of applications Provides the information needed to rationalize and prioritize applications Identify strategic applications Eliminate redundancy Free application maintenance dollars for higher-value uses 35 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
36 resource portfolio > Resource allocation is a critical component of PPM. Once it is determined that one or many projects meet defined objectives, the available resources of an organization must be evaluated for its ability to meet this project demand. Resource planning is essential given medium-to-large project portfolios Understand existing labor or funding resource commitments Manage by skill set and affinity Consider in-house and outsourced supply Identify strategic resources 36 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
37 demand portfolio > Also known as pipeline management - the ability to measure the planned allocation of resources according to some strategic plan. To do this, a company must be able to estimate the effort planned for each project in the portfolio Prioritize and manage work appropriately Capture total demand both planned and unplanned Understand impact and cost of unplanned work on the portfolio 37 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
38 service portfolio > Describes a provider s services in terms of business value > Develops a financial and strategic model around services to support business initiatives > Articulates business needs and the provider s response to those needs in terms of value to the business Why should a customer buy these services? Why should they buy these services from us? What are the pricing or chargeback models? What are our strengths and weaknesses, priorities and risk? How should our resources and capabilities be allocated? 38 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
39 portfolio dashboard 39 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
40 benefits of PPM Enables the Enterprise to establish the required governance to effectively engage business units and to deliver investment results efficiently Foundation for business partner/stakeholder communication and collaboration Ensures investments are aligned with organizational goals, strategies and priorities Provides the means to select the right investments ( Should we? and Can we? ) and make the right tradeoffs Involves top management in project portfolio execution ( Are we? ) Provides the mechanisms to measure actual business value ( Did we? ) Management can more clearly and transparently demonstrate its effectiveness to its shareholders or owners 40 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
41 PPM checklist for success Properly represented PPM Governance/Steering Committee Designed and implemented formal PPM-specific processes (Criteria management, Submission, Evaluation, Approval, Prioritization, Managing, Monitoring & Reporting, etc.) Designed and implemented formal PPM-related processes (Resource Management, Demand Management, etc.) Common language (terminology & nomenclature) Standard tools and templates (request form, business case, program/project information, etc.) Timely tailored data resource, demand, application, asset, program/project status, etc. 41 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
42 advice when addressing PPM Ensure PPM is driven by business problems and opportunities not PPM for its own sake No one-size-fits all find the right flavor Constantly strike the balance not too much, not too little PPM processes can be incredibly sophisticated and complex, or incredibly simple Continually prove the value of PPM The three M s: Metrics, Measures and Marketing 42 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
43 advice for any governance effort Absolutely requires Executive sponsorship and leadership Vision and Enablement Absolutely requires Business participation IT facilitates but the business must be a partner, if not the leader in the effort Business process initiative This requires skills in process management, design, implementation and organizational change Decisions require fact-based information This requires a systematic approach to collect, integrate, analyze and provide meaningful data 43 May 2010 CA Clarity PPM Field Marketing Copyright 2010 CA
44 thank you Steve Romero IT Governance Evangelist anceevangelist/
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