Frank P.Saladis PMP, PMI Fellow

Size: px
Start display at page:

Download "Frank P.Saladis PMP, PMI Fellow"

Transcription

1 Frank P.Saladis PMP, PMI Fellow

2 Success factors for Project Portfolio Management The Purpose of Portfolio Management Organizational Assessment Planning a Portfolio Management Strategy The Portfolio Management Process Scoring Models Dashboards Assessing the Portfolio Management Process

3 Enterprise Success

4 Pat Durbin and Terry Doerscher, Taming Change with Portfolio Management

5 Successful enterprises need the ability to respond nimbly to sudden changes in customer demand, supply chains, and competitive shifts This ability is heavily dependent on innovation The Business Case For Project Portfolio Management, Innotas White Paper

6 Top Personnel Basic Education/Training Continuous Improvement Executive Support Standardized Process/Tools Qualification Matrix Continuing Education/Training Career Path PM Mentorship & Coaching Compensation Successful Enterprise Project Management Portfolio Management Successful Experience Compatible Related Business Processes Complimentary Management Philosophy Project Management Certification Project Evaluation Review Process

7 Assessment of overall portfolio health Assess contribution of project and program portfolios toward organizational strategic goals Assess and report the composite risk level of a portfolio Assess and report on resource usage Obtain and evaluate financial data and the value realized from portfolio components

8 The Purpose of Portfolio Management

9 Synchronize the significant effort of selecting, prioritizing and managing projects with the agreed upon and expressed vision and mission of the enterprise Create the appropriate mix of projects and programs Bridge the gap between projects and operational functions

10 To effectively manage Business Change Changing strategic direction Mergers New Products New markets Organizational Structure Establish a unified approach for prioritizing business activities and managing change that effects the sustainability and viability of an enterprise

11 Avoid looking at every change as a single isolated threat Portfolio management allows you to see individual change from a broader perspective Allows for more fluid adjustment to your game plan Change is the nature of the business game Change becomes a strategic tool

12 1. Consumer preferences 2. Energy costs 3. Tax policies 4. Reverse innovation 5. Non-traditional competitors 6. Extended enterprise risks 7. Exponential growth in information flow 8. Long-term growth strategy New markets 9. Global economy 10. Political influences 11. Legal / Regulatory 12. Increasing capability

13 Organizational Assessment

14 My organization has an effective and reliable process for evaluating and selecting projects and programs for execution My organization has a specific, practical, and enforced process for managing project and program change My organization is highly effective and efficient at managing changes in priorities

15 My organization has a specific and reliable process to determine if projects and programs are delivering the desired value My organization has a well defined and reliable process for determining which projects and programs should be discontinued My organization allows the critical asset of people to respond effectively to change

16 My organization consistently maintains the appropriate mix of projects and programs at a level of performance that will enable the organization to achieve its strategic objectives, sustain a high level of operational performance and support the continual enhancement of the brand

17 What are the top 5 assets your executives would consider most important to your organization? If you are not sure, you may be investing disproportionally possibly on declining assets When you have identified the top 5, determine the percentage of the total portfolio budget that is being spent on those assets

18

19

20 Planning a Project Portfolio Management Strategy

21 Portfolio Management Organizational Strategy Portfolio Portfolio Project Project Programs Knowledge Method Pte Ltd PPM Pa ge 21

22 A collection of projects or programs and other work that are grouped together to facilitate effective management of that work to meet strategic business objectives The projects and programs may not be interdependent or directly related Components of a portfolio are quantifiable: They can be measured, ranked, prioritized

23 The effort of coordinating the tracking and controlling of portfolio components to ensure effective decision making that will support the achievement of specific organizational objectives Provides a platform for a governing body to make decisions that influence the direction of a component or group of components (projects, programs, other work)

24 1. Maintaining portfolio alignment 2. Allocating financial resources 3. Allocating human resources 4. Measuring component contributions 5. Strategic risk management The Standard for Portfolio Management PMI

25 What mix of current and potential projects will provide the best utilization of human and financial resources to maximize long term growth and return on investment? How will new projects or how do existing projects support strategic goals and objectives? How will projects affect the value of corporate shares?

26 How will portfolios be defined and populated? How will day to day operations be affected? What criteria will be used to determine if new or existing projects /programs support strategic goals and objectives? Are all project portfolios connected to the strategic objectives?

27 Strategic projects and programs Projects and programs that support day to day operations (level 2) Portfolio management provides a method for optimization in both environments

28 Optimizing the use of limited funds and resources, and support of missions and strategies is vital for survival PPM assumes that the enterprise positions itself for increased strength and profitability through its selection and execution of projects Harvey A. Levine, Author Project Portfolio Management, A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits

29 Projects must align with the organization s strategies and goals Projects must be consistent with the organization s culture and values Projects must contribute directly or indirectly to a positive cash flow Projects must effectively use the organization s resources: people, infrastructure and other resources

30 Project Management Strategies Objectives / Goals Business Performance Stakeholder satisfaction Project selection and mix Resource availability Cash flow, revenue Schedule / time Project cost Project performance Stakeholder satisfaction Scope / change control Resource utilization Funding usage

31 Not the Management of Multiple Projects Part of strategic planning Projects must not only provide for current contributions to the organization s health but must help to position the organization for future success

32 Governance and oversight for portfolios Establish and maintain relevant portfolio management processes e.g., risk management, resource management Guide the selection, prioritization, and balancing of the portfolio components to ensure alignment with strategic goals Establish and maintain a supportive infrastructure Continuously review, reprioritize, and optimize the portfolio to maximize value and benefits realization

33 Governance and oversight for portfolios One portfolio manager typically oversees one portfolio. Reviews the performance and conformance to expectations of components within the portfolio. Ensures that data for each of the components in the portfolio is collected and analyzed. Provides stakeholders with timely assessments of portfolio performance Enables periodic decision making about the future direction of enterprise initiatives.

34 Measuring and monitoring the value to the organization through KPI and CSFs (ROI, NPV, Payback) Supports senior level decision making through timely communication about progress and changes that impact portfolio components Participates in program and project reviews Provides leadership, support, involvement Adheres to ethical standards

35 The Portfolio Management Process

36 Portfolio management is a set of disciplined processes designed to ensure smarter business decisions about change events PPM allows you to view, analyze, and act on meaningful business information People Capability and knowledge Money financial condition Work What the organization does Deliverables Your products and services

37 Project Portfolio Management Strategi c Goals Project Ideas, Recommendations Business Solutions Environmental & Organizational Factors Customer needs Compliance issues Organizational capacity & capability Organizational leadership Economic environment Operating efficiency Financial capacity Competitive position Sustainability Brand recognition Risk sensitivity Human Factors Morale Trust Loyalty Project Selection Process (governance) Innovation Creativity Risk sensitivity Business savvy Cost / Benefit Analysis Tangible benefits NPV, ROI, IRR Payback, Breakeven Intangible Benefits Goodwill, trust Customer Loyalty, Acceptance by Society Risk Assessment - feasibility

38 Accepted Organizational Level Project and Program Portfolio (portfolio of all portfolios) Project Selection Outcome Deferred Rejected Compliance projects Programs Prioritization Interdependent projects and programs Independent Projects R&D Resource Requirements

39 Project and Program Portfolios (approved projects) New Strategic Goals Compliance projects Programs Independent projects Interdependent projects & programs R&D Strategic Goals Achieved Enterprise PM Methodology (Portfolio Governance) Tools Techniques Best Practices Enterprise Software Status / Results: Dashboards Project and program health Go/ No Go decisions Completed projects Updated priorities

40 Set Strategic Goals Select Right Projects and Programs Prioritize Lessons Learned Deliver Successful Projects & Programs Portfolio Management Cycle Assign to Portfolio Manage Projects / Programs Continue Value Adding Projects & Programs Re-Prioritize / Terminate Projects Review Project Performance

41 Performance Measures Examples: Percent of target dates missed Percent variation from budget Percent of changes to project scope Percent of on time completion of tasks Percent of on time completion of milestones Cost of poor quality Percent of errors/defects Number of requests for corrective action Time to correct problems Number of schedule changes Knowledge Method Pte Ltd PPM Pa ge 41

42 Reflect results, not the activities used to produce the results Relate directly to a performance goal Are based on measurable data Contain normalized metrics for benchmarking Are practical and easily understood by all Provide a continual self assessment Provide a benefit that exceeds the cost Are accepted and have owners Knowledge Method Pte Ltd PPM Pa ge 42

43 Actions: Are we doing what we agreed upon? If not, why not? What is needed to set things in motion? Assumptions: Are conditions as we expected? Adjust strategies to actual conditions Achievements: Are we getting the results we anticipated? If results are not what we intended, a cause an effect analysis is required to identify and then determine how to correct the problem(s). Adjustments: Are we applying what we have learned? What are we doing with the measurements? Use measurements as a steering mechanism to make adjustments as the organization moves forward Knowledge Method Pte Ltd PPM Pa ge 43

44 Assessing the Portfolio Management Process

45 Report on the effectiveness of project/program management methods Assess progress and provide information about the total investment in a portfolio or portfolio component Manage project, program, or portfolio dashboards

46 Strengths and Weaknesses in : Project Identification Project Selection Financial analysis Categorization Evaluation of feasibility and capability Prioritization Portfolio Balancing Authorization Periodic review and reporting Managing strategic change

47 Practical and Tactical Project Portfolio Management

48 Consider the definition of practical. It means capable of being put to use, something likely to succeed or be effective in real circumstances.

49 Are business processes well defined, with minimal bureaucracy? (This refers to the general processes across organizational entities that are engaged in running the business) Are all internal business entities utilizing (and enforcing) established procedures? Selecting projects Is the project selection process clearly defined and practiced? Is the project / program pipeline organized for efficiently determining the best mix of projects and essential programs? Is the go and no go decision process aligned with organizational or line of business objectives?

50 Is a "bid/no bid" checklist in place to ensure minimal risk exposure and maximum opportunity? Is there a process or scoring model to ensure appropriate weighting of projects based on alignment to the strategic plan Is there a viable market? Has the competition been assessed? Is an enterprise portfolio management tool in place or available to assist in governing portfolios and programs?

51 Consider the definition of tacticala : of or relating to tactics: as (1) : of or relating to small-scale actions serving a larger purpose (2) : made or carried out with only a limited or immediate end in view b : adroit in planning or maneuvering to accomplish a purpose

52 Periodic reviews of the project selection process Periodic reviews of the gating or decision process in the project and or program pipeline Reviews of projects, programs and other components within defined portfolios Review and reassess organizational key performance indicators and critical success factors Establish a standard training program for project, program, and portfolio managers Use of a standard enterprise level tool for project, program, and portfolio management

53 A stakeholder analysis process to identify the specific needs of project and program key players. This type of analysis will assist in determining the influence levels of stakeholders and can be used to develop strategies for managing them effectively. Establish a PMO A Project, Program, or Portfolio Management Office(or a PM Center of Excellence). A PMO can provide standard tools and techniques that would assist in creating a consistent approach to managing project and programs

54 A defined risk management process Risk management during project and program selection, during actual implementation and during the tendering process can minimize exposure to factors that could result in damage to reputation, penalties, and other costly circumstances

55 Critical Questions

56 How effective and efficient is the project and program selection process? Are critical resources assigned to the highest priority projects? Are all resources fully utilized? Are projects and programs aligned with organizational goals and objectives? Are projects and programs integrated with ongoing operations? This relates to planning, scheduling, resource availability, change management

57 Is the mix of components in a portfolio providing an optimal balance in terms of risk, value to the organization, and meeting client needs? Is a performance measurement system in place to assess projects and programs that will identify significant variance, raise awareness about warning signs, and assist in making decisions about whether projects should continue or be terminated

58 Business Acumen Strategic planning Marketing and sales Knowledge Management Organizational culture Operations, metrics, and KPIs Legal and regulatory Financial & Business Analysis Business case development Economic models Governance Leadership Motivation Direction Communication Project Management Procurement and Vendor Management Planning Controlling

59

60 Scoring Models

61 Risk High risk, high reward High risk, low reward Low risk, High reward Low risk, low reward Urgency of Deliverable Operational necessity Long term payoff Competitive positioning Knowledge Method Pte Ltd PPM Pa ge 61

62 Total Project Score = 70 of 100 Project Deliverable of 40 points Total cost -10 Score 5 Duration -8 Score 5 Scope -12 Score 10 Quality -10 Score 10 Value to the Organization of 60 points Financial of 24 ROI -8 Score 6 Payback-4 Score 4 Cost Benefit - 12 Score 10 Strategic of 36 Competitive issues -6 Score 4 New Bus Ops 12 Score10 Capability Improvement -18 Score 6

63 Total Project Score = 2272 Project Deliverable Weight = 3 Subtotal 22 Total cost -10 Score 3 Duration -10 Score 1 Scope -10 Score 10 Quality -10 Score 8 Value to the Organization Weight = 8 Subtotal 277 Financial Weight = 7 Score 19/30 ROI -10 Score 5/10 Payback-10 Score 4/10 Cost Benefit - 10 Score 10/10 Strategic Weight = 9 Score 16/30 Competitive issues -10 Score10/10 New Business Issues -10 Score 4/10 Capability Improvement - 10 Score 2/10

64 .75 x.66 = 49.5% Project Deliverable -40 Percent of total Score = 30 of 40 =75% Value to the Organization 60 Percent of Total 40 of 60 = 66% Total cost -10 Score = 5 Duration -8 Score = 5 Scope -12 Score = 10 Quality -10 Score = 10 Financial -24 Score 20 ROI -8 Score 6 Payback-4 Score 4 Cost Benefit - 12 Score 10 Strategic-36 Score 20 Competitive issues -6 Score 4 New Business Issues -12 Score 10 Capability Improvement - 18 Score 6

65 New Business Is this project outside of our current operational norm? New business 50 % new business Typical project Project Type 100% New Business 10 50% New Business 8 Typical Project, Current technology Score 5

66 Marketability Can this solution be used in other organizational units? Project solution transferrable score = 10 Limited to this client only score = 5

67 Cost Savings This project is expected to have operational savings of: In excess of 20% score = 10 Between 15% and 20% score = 8 Between 10% to 15% score = 7 Breakeven score = 5

68 Profitability This project will impact the organizational profit margin: Exceeds the norm by 20% + score = 10 Exceeds the norm by 10%-20% score = 8 Meets the norm score = 5 Breakeven score = 0

69 Internal Rate of Return Net Present Value Benefit / Cost Ratio Time to breakeven Discounted cash flow Total cost as a percentage of the total available funds Relationship to total expected value of the portfolio Knowledge Method Pte Ltd PPM Pa ge 69

70 Dashboard Views

71 A simple graphical presentation of diverse data that can be used to drill down on underlying information. A dashboard offers a standard format for project status that everyone can understand An at-a-glance project status tool

72 Portfolio Overall Health view of entire portfolio against predefined KPIs Organization Strategic Goal Achievement Projected and Realized value from the portfolio Risk Profile The composite risk level of the portfolio Resource usage - planned and actual (billable time and non billable time) Financial Information Value received, costs incurred, forecasts, earned value analysis, percentage of total organizational financial investment

73 Executive summary Desired business outcomes Financial summary Project Risks Project Complexity Rating Next project gate (phase end review) Project health (red, amber, green) Planned and actual budget Schedule - Milestones / Deliverables Project scope changes Project Issues

74 Consistent communication of portfolio performance, project or program health and timely status to sponsors and executives Increased visibility of risk and issues that may impact the portfolio and / or organizational success Provides early opportunities for action and course correction Provides details and evidence for governance decisions

75

76

77

78

79 Frank P. Saladis PMP Recent Books: Positive Leadership In Project Management Mastering People Skills A Guide for Project Managers - booktango.com and amazon.com Knowledge Method Pte Ltd PPM Pa ge 79

80 Advanced Project Portfolio Management and the PMO Multiplying ROI at Warp Speed by Gerald I. Kendall,PMP, Steven C. Collins,PMP Project Portfolio Management, A Practical Guide To Selecting Projects, Managing Portfolios, and Maximizing Benefits by Harvey A. Levine Strategic Project Portfolio Management Enabling a Productive Organization by Simon Moore

81 Taming Change With Portfolio Management by Pat Durbin and Terry Doerscher Project Portfolio Management Tools and Techniques by Parviz F. Rad and Ginger Levin

Project Portfolio Management: James C. Brown Sr. Manager, Research PMO Pioneer Hi-Bred International

Project Portfolio Management: James C. Brown Sr. Manager, Research PMO Pioneer Hi-Bred International Project Portfolio Management: Metrics that Work James C. Brown Sr. Manager, Research PMO Pioneer Hi-Bred International Agenda PPM Interest What is Project Portfolio Management? Challenges Myths Benefits

More information

2012 National BDPA Technology Conference. Defining Project and PMO Metrics

2012 National BDPA Technology Conference. Defining Project and PMO Metrics 2012 National BDPA Technology Conference Defining Project and PMO Metrics Betty Hutchins, MBA, PMP August 1 4, 2012 Baltimore, MD Presentation Objectives Project Performance Determine the Process Defining

More information

Project Management Office (PMO) Charter. Enhanz Pte. Ltd.

Project Management Office (PMO) Charter. Enhanz Pte. Ltd. Project Management Office (PMO) Charter for Enhanz Pte. Ltd. Version 1.0 Prepared by Enhanz Consulting PMO Lead I Document Version History Version Date Description of Changes Author Approver 1.0 05/10/2012

More information

Project work. Project. Main project factors: Projektitöö / Project work. Lecture 1. Introduction. Selecting and prioritizing projects

Project work. Project. Main project factors: Projektitöö / Project work. Lecture 1. Introduction. Selecting and prioritizing projects HPP3310 Projektitöö / Project work Project work Ćompiled by Mart Murdvee Project is an organized set of work efforts undertaken to produce a unique output subject to limitations of time and resources such

More information

The Future of Project Management: Preparing The Next Generation Project Manager

The Future of Project Management: Preparing The Next Generation Project Manager 1 The Future of Project Management: Preparing The Next Generation Project Manager By Harold Kerzner, Ph.D. 10/9/2010 2010 International Institute for Learning, Inc. 1 Best Practices in Project Management

More information

Creating an Enterprise PMO Global Mining IT and Communications Summit

Creating an Enterprise PMO Global Mining IT and Communications Summit Creating an Enterprise PMO Global Mining IT and Communications Summit November 5, 2013 Sharon Gietl VP of IT and CIO The Doe Run Company: Who We Are A global supplier of lead metal and alloys Second largest

More information

Agile project portfolio manageme nt

Agile project portfolio manageme nt Agile project portfolio manageme nt Agile project & portfolio summit at Harrisburg University May 9, 2016 Agile project portfolio management Agenda Portfolio management challenges Traditional portfolio

More information

Project Portfolio Management

Project Portfolio Management Project Portfolio Management Maciej Bodych, MBA, PMP Bio Maciej Bodych, MBA, PMP Consultant, Trainer and Interim Manager in area of Portfolio Management and PMO PMI Region Mentor in charge of the Eastern

More information

MGMT 4135 Project Management. Chapter-16. Project Oversight

MGMT 4135 Project Management. Chapter-16. Project Oversight MGMT 4135 Project Management Chapter-16 Project Oversight Project Oversight: defined as a set of principles and processes to guide and improve the management of projects. Ensures projects meet the needs

More information

These functionalities have been reinforced by methodologies implemented by several of our customers in their own portfolio optimization processes.

These functionalities have been reinforced by methodologies implemented by several of our customers in their own portfolio optimization processes. ABSTRACT The goal of strategic portfolio planning is to create and maintain an ideal portfolio of projects that balances risk with return. In his book Portfolio Management for New Products, Stage-Gate

More information

PMO Starter Kit. White Paper

PMO Starter Kit. White Paper PMO Starter Kit White Paper January 2011 TABLE OF CONTENTS 1. ABOUT THE PMO STARTER KIT...3 2. INTRODUCTION TO THE PMO STARTER KIT WHITE PAPER...3 3. PMO DEVELOPMENT ROADMAP...4 4. PLAN PHASE...5 4.1 CREATE

More information

Program Management: Opportunity or CLM?

Program Management: Opportunity or CLM? Program Management: Opportunity or CLM? Agenda It s a game do you know the rules? So who wants to be a Program Manager? Definitions Check list for what it REALLY takes Questions 2 It s a game do you know

More information

PORTFOLIO, PROGRAMME & PROJECT MANAGEMENT OFFICES A PRACTICAL GUIDE TO SETTING UP A PMO (WITH EXAMPLES)

PORTFOLIO, PROGRAMME & PROJECT MANAGEMENT OFFICES A PRACTICAL GUIDE TO SETTING UP A PMO (WITH EXAMPLES) PORTFOLIO, PROGRAMME & PROJECT MANAGEMENT OFFICES A PRACTICAL GUIDE TO SETTING UP A PMO (WITH EXAMPLES) Developed by the Department of Health Informatics Directorate Informatics Capability Development

More information

Strategic Leadership and Project Portfolio Management

Strategic Leadership and Project Portfolio Management Strategic Leadership and Project Portfolio Management Rick Clare PMP, CBAP, CSM, MSPM November 11-15, 2013 634 Alpha Drive Pittsburgh, PA 15238 (888) 762-3683 Fax (412) 963-8618 Company Background Consulting

More information

10 Essential Steps to Portfolio Management

10 Essential Steps to Portfolio Management 10 Essential Steps to Portfolio Management Portfolio Planning for 2013 Revised November 2012 http://epmlive.com Contents Introduction...2 Portfolio Management Overview...3 Portfolio Management Process

More information

Project Management Guidelines

Project Management Guidelines Project Management Guidelines Overview Section 86-1506 (5) directs the NITC to adopt guidelines regarding project planning and management. The goal of project management is to achieve the objectives of

More information

MoP Glossary of Terms - English

MoP Glossary of Terms - English English Term aggregated risk English Definition The overall level of risk to the portfolio when all the risks are viewed as a totality rather than individually. This could include the outputs of particular

More information

Use of Measurements and Metrics for the Project Management Office (PMO)

Use of Measurements and Metrics for the Project Management Office (PMO) Use of Measurements and Metrics for the Project Management Office (PMO) Presented by: Joseph Raynus Founder & Principal Consultant ShareDynamics, Inc. The Paradigm Paradigm: A set of assumptions, concepts,

More information

Navigating the Project Management Minefield

Navigating the Project Management Minefield Navigating the Project Management Minefield How Project Management, Program Management Offices and Project Portfolio Management Transform Underperforming Projects into a Competitive Edge Topics Included

More information

Program Management Professional (PgMP) Examination Content Outline

Program Management Professional (PgMP) Examination Content Outline Program Management Professional (PgMP) Examination Content Outline Project Management Institute Program Management Professional (PgMP ) Examination Content Outline April 2011 Published by: Project Management

More information

Advisory Services. Financial. Business Risk. Administration. Understanding Creating Implementing

Advisory Services. Financial. Business Risk. Administration. Understanding Creating Implementing Advisory Services Financial. Business Risk. Administration. Understanding Creating Implementing Our Firm... Grant Thornton Advisory Services Al-Aiban & Al-Qatami Co. is a member firm incorporated with

More information

Mastering Project Portfolio Management

Mastering Project Portfolio Management Mastering Project Portfolio Management A Systems Approach to Achieving Strategic Objectives Michael J. Bible, PMP Susan S. Bivins, PMP J.ROSS PUBLISHING Contents Preface Acknowledgments About the Authors

More information

AIPM PROFESSIONAL COMPETENCY STANDARDS FOR PROJECT MANAGEMENT

AIPM PROFESSIONAL COMPETENCY STANDARDS FOR PROJECT MANAGEMENT AIPM PROFESSIONAL COMPETENCY STANDARDS FOR PROJECT MANAGEMENT PART F CERTIFIED PRACTICING PORTFOLIO EXECUTIVE (CPPE) JUNE 2014 Version 2.1 DOCUMENT CONTROL Document Information Document Title Release Authority

More information

PMP Examination Tasks Puzzle game

PMP Examination Tasks Puzzle game PMP Examination Tasks Puzzle game Here is a great game to play to test your knowledge of the tasks you will be tested on in the actual examination. What we have done is take each of the domain tasks in

More information

Developing a Business Case

Developing a Business Case Developing a Business Case Figures don t lie but liars figure. Attributed to Mark Twain and others The business case document is a formal, written argument intended to convince a decision maker to approve

More information

BPR AND PERFORMANCE MEASUREMENT

BPR AND PERFORMANCE MEASUREMENT BPR AND PERFORMANCE MEASUREMENT Business Process Reengineering by Lampathaki F., Koussouris S., Psarras J. Performance A performance measurement is a comparison of actual returns against a pre-specified

More information

Project Risk Management

Project Risk Management Project Risk Management Study Notes PMI, PMP, CAPM, PMBOK, PM Network and the PMI Registered Education Provider logo are registered marks of the Project Management Institute, Inc. Points to Note Risk Management

More information

Top 10 Success Considerations for ITSM Programs

Top 10 Success Considerations for ITSM Programs Top 10 Success Considerations for ITSM Programs A For ITSM Program Success Date : April 2013 Author : Troy DuMoulin The First Step So you have taken the ITIL Foundations course and possibly even one or

More information

Prepared for: Prepared by:

Prepared for: Prepared by: Executive Project Review Prepared for: Prepared by: Table of contents Introduction... 3 WHY an Executive Project Review?... 3 WHO is Involved?... 4 WHAT is an Executive Project Review?... 5 WHEN? - Schedule

More information

Competency Requirements for Executive Director Candidates

Competency Requirements for Executive Director Candidates Competency Requirements for Executive Director Candidates There are nine (9) domains of competency for association executives, based on research conducted by the American Society for Association Executives

More information

ASAE s Job Task Analysis Strategic Level Competencies

ASAE s Job Task Analysis Strategic Level Competencies ASAE s Job Task Analysis Strategic Level Competencies During 2013, ASAE funded an extensive, psychometrically valid study to document the competencies essential to the practice of association management

More information

Best Practices Statement Project Management. Best Practices for Managing State Information Technology Projects

Best Practices Statement Project Management. Best Practices for Managing State Information Technology Projects State of Arkansas Office of Information Technology 124 W. Capitol Ave. Suite 990 Little Rock, AR 72201 501.682.4300 Voice 501.682.4020 Fax http://www.cio.arkansas.gov/techarch Best Practices Statement

More information

Introduction to OpenPPM

Introduction to OpenPPM 0 Introduction to OpenPPM Content Table Introduction to OpenPPM... 1 0.1. OpenPPM: A tool thought by and for Project Managers... 2 0.2. Project, Program and Portfolio Management... 3 0.3. What is not OpenPPM?...

More information

The Standard for Portfolio Management. Paul E. Shaltry, PMP Deputy PM PPMS (2003-06) BNS02

The Standard for Portfolio Management. Paul E. Shaltry, PMP Deputy PM PPMS (2003-06) BNS02 The Standard for Portfolio Management Paul E. Shaltry, PMP Deputy PM PPMS (2003-06) BNS02 Purpose of this Presentation To provide information about The Standard for Portfolio Management Agenda Background

More information

Chapter 4. The IM/IT Portfolio Management Office

Chapter 4. The IM/IT Portfolio Management Office Chapter 4 The IM/IT Portfolio Management Office Learning Objectives Identify some of the primary causes of IM/IT project failures. Describe the main differences between IM/IT project management, IM/IT

More information

Manager s View. Redesigning the Organization with Information Systems. Information Systems Planning Strategies

Manager s View. Redesigning the Organization with Information Systems. Information Systems Planning Strategies Manager s View Redesigning the Organization with Information Systems Understanding Information System planning methods help you plan and organize resources. M7011 Peter Lo 2005 1 M7011 Peter Lo 2005 2

More information

IT Owes Much to PMOs

IT Owes Much to PMOs IT Owes Much to PMOs Doing More with Less Doing more with less is the mantra of IT organizations reuse and productivity, and nowhere recently have these principles been more effectively applied than in

More information

Building the Vision and the Strategy for a PMO Implementation

Building the Vision and the Strategy for a PMO Implementation 4 Building the Vision and the Strategy for a PMO Implementation Mauro Fenzi, Alexandre Sörensen Ghisolfi, Valerio Crovasce (Comau Corporate) Overview of PMO Implementation Model 1. Current State Assessment

More information

Delivering Corporate Social Responsibility through Project Portfolio Management

Delivering Corporate Social Responsibility through Project Portfolio Management Delivering Corporate Social Responsibility through Project Portfolio Management Project portfolios are comprised of projects that widely differ in value; vary by their short- and longterm benefits, their

More information

CSR / Sustainability Governance and Management Assessment By Coro Strandberg Principal, Strandberg Consulting www.corostrandberg.

CSR / Sustainability Governance and Management Assessment By Coro Strandberg Principal, Strandberg Consulting www.corostrandberg. Introduction CSR / Sustainability Governance and Management Assessment By Coro Strandberg Principal, Strandberg Consulting www.corostrandberg.com June 2015 Companies which adopt CSR or sustainability 1

More information

BENEFITS REALIZATION: THE COMPETITIVE ADVANTAGE

BENEFITS REALIZATION: THE COMPETITIVE ADVANTAGE BENEFITS REALIZATION: THE COMPETITIVE ADVANTAGE PRASHANTH NAIDU AUGUST 1, 2012 1 2011 Hitachi Data Systems. All rights reserved. INTRODUCING HITACHI DATA SYSTEMS Ranked # 140 for Innovation in 2010 Formed

More information

LCS International, Inc. PMP Review. Chapter 2 Creating the Project Charter and Preliminary Scope Statement Presented by David J.

LCS International, Inc. PMP Review. Chapter 2 Creating the Project Charter and Preliminary Scope Statement Presented by David J. PMP Review Chapter 2 Creating the Project Charter and Preliminary Scope Statement Presented by David J. Lanners, MBA, PMP These slides are intended to be used only in settings where each viewer has an

More information

Systems Analysis and Design in a Changing World, Fifth Edition

Systems Analysis and Design in a Changing World, Fifth Edition Systems Analysis and Design in a Changing World, Fifth Edition Learning Objectives Explain the elements of project management and the responsibilities of a project manager Explain project initiation and

More information

ORACLE PROJECT PLANNING AND CONTROL

ORACLE PROJECT PLANNING AND CONTROL ORACLE PROJECT PLANNING AND CONTROL (Formerly Oracle Project Management) KEY FEATURES COLLABORATIVE PROJECT PLANNING Define a project work breakdown structure to align plans to execution Coordinate financial

More information

Innovation Portfolio Management Process

Innovation Portfolio Management Process Best Practice Guidebook Innovation Portfolio Management Process growth team membership 1 guidebook summary Firm: Dow AgroSciences LLC Industry: Chemicals, food ingredients, and biotechnology Headquarters:

More information

Components of a Project Portfolio Management Process: Part Three Executing Project Portfolio Management

Components of a Project Portfolio Management Process: Part Three Executing Project Portfolio Management Components of a Project Portfolio Management Process: Part Three Executing Project Portfolio Management We started our coverage of Project Portfolio Management with two papers: Project Portfolio Management

More information

Project Risk Management

Project Risk Management Project Risk Management Study Notes PMI, PMP, CAPM, PMBOK, PM Network and the PMI Registered Education Provider logo are registered marks of the Project Management Institute, Inc. Points to Note Please

More information

Marketing Management SUMMARY. Chapter 2 Strategic Market Planning

Marketing Management SUMMARY. Chapter 2 Strategic Market Planning Marketing Management SUMMARY Chapter 2 Strategic Market Planning Chapter 2 - Strategic Market Planning Business Planning: Compose the Big Picture o Careful planning enables a firm to help customers understand

More information

Project Management Best Practice Benchmarks

Project Management Best Practice Benchmarks A PM SOLUTIONS RESEARCH COMPENDIUM Project Management COST SCOPE Quality SCHEDULE 2 Project Management Senior executives want to know one thing about project management: What s the value? Today more than

More information

Jennifer Baker, PfMP, PgMP, PMP Duke Energy

Jennifer Baker, PfMP, PgMP, PMP Duke Energy Jennifer Baker, PfMP, PgMP, PMP Duke Energy Agenda Learning Objectives Duke Energy at a Glance Project Management Center of Excellence (PMCoE) Overview PMCoE Governance Tools Should be Transferrable for

More information

Five Levels of Project Portfolio Management

Five Levels of Project Portfolio Management Five Levels of Project Portfolio Management Figure 49 summarizes five levels of project portfolio management maturity [1]. Each level represents the adoption of an increasingly comprehensive and effective

More information

Sound Transit Internal Audit Report - No. 2014-3

Sound Transit Internal Audit Report - No. 2014-3 Sound Transit Internal Audit Report - No. 2014-3 IT Project Management Report Date: Dec. 26, 2014 Table of Contents Page Background 2 Audit Approach and Methodology 2 Summary of Results 4 Findings & Management

More information

Project Risk Management

Project Risk Management Project Risk Management For the PMP Exam using PMBOK Guide 5 th Edition PMI, PMP, PMBOK Guide are registered trade marks of Project Management Institute, Inc. 1 Contacts Name: Khaled El-Nakib, MSc, PMP,

More information

Project Management Office Best Practices

Project Management Office Best Practices Project Management Office Best Practices Agenda Maturity Models (Industry & PMO) PMO Areas of Expertise (Scale & Scope) Project Management Office Process Model Project Management Framework PMO Implementation

More information

Project Prioritization

Project Prioritization Project Prioritization and Resourcing Once Size Does Not Fit all 2009 Project Management Symposium Breakout Session D Agenda 1. Overview 2. Prioritization 3. Ideas ROI VOI 4. Resourcing 5. Tips Assignment

More information

Optimizing Rewards and Employee Engagement

Optimizing Rewards and Employee Engagement Optimizing Rewards and Employee Engagement Improving employee motivation and engagement, and identifying the right total rewards strategy to influence workforce effectiveness. Kevin Aselstine, Towers Perrin

More information

RESEARCH REPORT. Project Management Maturity & Value Benchmark

RESEARCH REPORT. Project Management Maturity & Value Benchmark RESEARCH REPORT Project Management Maturity & Value Benchmark 2014 2 Project Management Maturity & Value Benchmark 2014 Introduction PM Solutions Research first surveyed organizations on the maturity of

More information

Designing a Metrics Dashboard for the Sales Organization By Mike Rose, Management Consultant.

Designing a Metrics Dashboard for the Sales Organization By Mike Rose, Management Consultant. Designing a Metrics Dashboard for the Sales Organization By Mike Rose, Management Consultant. Metrics can serve as critical measures of success for any organization and, in particular, the sales force

More information

CIAC CALL CENTER MANAGEMENT COMPETENCIES

CIAC CALL CENTER MANAGEMENT COMPETENCIES CIAC CALL CENTER MANAGEMENT COMPETENCIES CIAC-Certified Operations Manager (CCOM) These competencies represent the knowledge, skill, and behavioral requirements for professionals pursuing certification

More information

APICS INSIGHTS AND INNOVATIONS ENHANCING PROJECT MANAGEMENT

APICS INSIGHTS AND INNOVATIONS ENHANCING PROJECT MANAGEMENT APICS INSIGHTS AND INNOVATIONS ENHANCING PROJECT MANAGEMENT APICS INSIGHTS AND INNOVATIONS ABOUT THIS REPORT Supply chain project management is a process that allows you to coordinate resources and activities

More information

HOW A PMO WAS BUILT in a Company where PMO was a dirty word. By Amy Martin, Head of Aon Hewitt s Enterprise Program Management Office May 5, 2016

HOW A PMO WAS BUILT in a Company where PMO was a dirty word. By Amy Martin, Head of Aon Hewitt s Enterprise Program Management Office May 5, 2016 HOW A PMO WAS BUILT in a Company where PMO was a dirty word By Amy Martin, Head of Aon Hewitt s Enterprise Program Management Office May 5, 2016 1 A Shared Vision through the discipline of project management

More information

Project Governance. Version: June 3, 2010 By: Dr Ralf Müller PM Concepts AB www.pm-concepts.com ralf.mueller@pm-concepts.com

Project Governance. Version: June 3, 2010 By: Dr Ralf Müller PM Concepts AB www.pm-concepts.com ralf.mueller@pm-concepts.com Project Governance Dr Ralf Müller Managing Director, PM Concepts AB, Sweden Adjunct / Associate Professor, SKEMA Business School, France, Norwegian School of Management BI, Umeå University, Sweden Version:

More information

PMO Director. PMO Director

PMO Director. PMO Director PMO Director It s about you Are you curious about how individual projects further a company s strategy? Can you think at the macro level across broad groups of people and services? Do you have an eye for

More information

PMO as Change Agent Brian M. Horgan, Project Director, The United Illuminating Company. Abstract

PMO as Change Agent Brian M. Horgan, Project Director, The United Illuminating Company. Abstract PMO as Change Agent Brian M. Horgan, Project Director, The United Illuminating Company Abstract A Project Management Office ( PMO ) is an agent for change in furtherance of strategy. This paper will discuss

More information

Project Management Office Charter

Project Management Office Charter Old Dominion University Office of Computing and Communication Services Project Management Office Charter Version: 1.0 Last Update: February 18, 2010 Created By: Anthony Fox, PMP OCCS Project Management

More information

Driving PPM Adoption Through Effective Change Management

Driving PPM Adoption Through Effective Change Management Driving PPM Adoption Through Effective Change Management Presenters: David Boghossian, Founder, PowerSteering Software Jay Hoskins, PowerSteering Business PPM Consultant Welcome! Thank you for joining

More information

White Paper. Make the Commitment to Project Portfolio Management: Assess, Analyze, Refine Reap the Rewards

White Paper. Make the Commitment to Project Portfolio Management: Assess, Analyze, Refine Reap the Rewards White Paper Make the Commitment to Project Portfolio Management: Assess, Analyze, Refine Reap the Rewards pmsolutions white paper series p 800.983.0388 pmsolutions.com 2013 Project Management Solutions,

More information

Portfolio Management Professional (PfMP)SM. Examination Content Outline

Portfolio Management Professional (PfMP)SM. Examination Content Outline Portfolio Management Professional (PfMP)SM Examination Content Outline Project Management Institute Portfolio Management Professional (PfMP) SM Examination Content Outline Published by: Project Management

More information

Project Management Professional 4 Day Course Agenda

Project Management Professional 4 Day Course Agenda Project Management Professional 4 Day Course Agenda 4 Day PMP Exam Prep Boot Camp - Course Outline Day One AM - Lesson 1 - Lesson 2 PM Framework - Lesson 3 PM Processes Day One PM - Lesson 4 Process Integration

More information

The 10 Knowledge Areas & ITTOs

The 10 Knowledge Areas & ITTOs This document is part of a series that explain the newly released PMBOK 5th edition. These documents provide simple explanation and summary of the book. However they do not replace the necessity of reading

More information

Finance Division. Strategic Plan 2014-2019

Finance Division. Strategic Plan 2014-2019 Finance Division Strategic Plan 2014-2019 Introduction Finance Division The Finance Division of Carnegie Mellon University (CMU) provides financial management, enterprise planning and stewardship in support

More information

PROJECT MANAGEMENT OFFICE (PMO) WORKBOOK

PROJECT MANAGEMENT OFFICE (PMO) WORKBOOK Version 1.6 PROJECT MANAGEMENT OFFICE (PMO) WORKBOOK Date: 6/1/16 Workbook Contents: PMO Charter University Strategic Plan PMO Process Descriptions PMO High Level Procedure 2.1 Procedure 2.2 Work Instruction

More information

Making project management indispensable for business results. Project Management 101

Making project management indispensable for business results. Project Management 101 Making project management indispensable for business results. Project Management 101 Donald E. Moore, MBA, PMP, President of PMI NB Kelly Barter, Chapter Manager of PMI NB AGM April 28, 2011 Topics of

More information

Chapter One PROJECT MANAGEMENT OVERVIEW

Chapter One PROJECT MANAGEMENT OVERVIEW Chapter One PROJECT MANAGEMENT OVERVIEW Project management is not a new concept. It has been practiced for hundreds, even thousands of years. Any undertaking, large or small, requires a goal, a set of

More information

Open position: Rolling Mill Coach Process Expert Working location: Saudi Arabic. Position Purpose: Supervision Received. Contacts

Open position: Rolling Mill Coach Process Expert Working location: Saudi Arabic. Position Purpose: Supervision Received. Contacts Open position: Rolling Mill Coach Process Expert Working location: Saudi Arabic Position Purpose: Once in a life time opportunity to work on a multi cultural green field start up. This position will provide

More information

Enterprise Release Management

Enterprise Release Management Enterprise Release Management Plutora helps organizations manage complex IT Feature Pipeline, IT Releases and IT Test Environments in a simple and transparent manner. Enterprise Releases Transparency and

More information

Introduction. The activities in the planning phase can be divided into three major steps: Project Initiation

Introduction. The activities in the planning phase can be divided into three major steps: Project Initiation PHASE 1: SYSTEMS PLANNING Introduction Project Initiation Reasons for Systems Projects Sources of Systems Projects Systems Request Preliminary Investigation Technical Feasibility Economic Feasibility Operational

More information

Business Analyst Position Description

Business Analyst Position Description Analyst Position Description September 4, 2015 Analysis Position Description September 4, 2015 Page i Table of Contents General Characteristics... 1 Career Path... 2 Explanation of Proficiency Level Definitions...

More information

Building Business Case for the Enterprise From Vision to Outcomes IIBA Boston Sept. 20, 2012 Joseph Raynus ShareDynamics, Inc.

Building Business Case for the Enterprise From Vision to Outcomes IIBA Boston Sept. 20, 2012 Joseph Raynus ShareDynamics, Inc. Building Business Case for the Enterprise From Vision to Outcomes IIBA Boston Sept. 20, 2012 Joseph Raynus ShareDynamics, Inc. Presentation Focus Business Situation Risk Assessment Sensitivity Analysis

More information

MNLARS Project Audit Checklist

MNLARS Project Audit Checklist Audit Checklist The following provides a detailed checklist to assist the audit team in reviewing the health of a project. Relevance (at this time) How relevant is this attribute to this project or audit?

More information

Writing an Asset Management System Business Case

Writing an Asset Management System Business Case Cover Article Writing an Asset Management System Business Case By Brian E. Thompson, CPPM, Los Angeles Chapter Introduction The intent of this paper is to provide the critical elements and methodology

More information

White Paper. PPP Governance

White Paper. PPP Governance PPP Governance The Governance of Projects, Programs and Portfolios (PPP) (sometimes called project governance for convenience) is the sub-set of corporate and organisational governance 1 focused on assisting

More information

Develop Project Charter. Develop Project Management Plan

Develop Project Charter. Develop Project Management Plan Develop Charter Develop Charter is the process of developing documentation that formally authorizes a project or a phase. The documentation includes initial requirements that satisfy stakeholder needs

More information

Establish a Portfolio Management Office

Establish a Portfolio Management Office Establish a Portfolio Management Office The function of the project portfolio management (PPM) office is to manage the organization's project portfolio, which includes prioritizing projects, allocating

More information

Module 2: The Project Initiation Stage

Module 2: The Project Initiation Stage Overview Initiation stage is highly instrumental in the life cycle of a project as it defines the boundaries of the project gives clarity to all participants about the objectives, scope, cost timescale

More information

Marketing Strategy, Operations & Measurement Business Strategy, General Management & Leadership Project, Risk & Change Management

Marketing Strategy, Operations & Measurement Business Strategy, General Management & Leadership Project, Risk & Change Management Marketing Strategy, Operations & Measurement Business Strategy, General Management & Leadership Project, Risk & Change Management 2014 Marketing Outlook Study: Highlights & Horizons Balance Sheet Template

More information

Principles of IT Governance

Principles of IT Governance Principles of IT Governance Governance of enterprise IT focuses on delivering services to support top line growth while moving operational savings to the bottom line. The management of IT services has

More information

The expression better, faster, cheaper THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT

The expression better, faster, cheaper THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT Cloud Solutions for IT Management WHITE PAPER THE BUSINESS CASE FOR PROJECT PORTFOLIO MANAGEMENT How Progressive IT Organizations Are Using Hosted Solutions To Deliver On Time, On Budget, On Quota and

More information

Performance Indicators

Performance Indicators 05 07 06 03 04 02 01 Seven Key Performance Indicators for Business Transformation Overview The telecommunications environment is commonly viewed by senior leadership as an operating expense. Historically,

More information

The growing importance of EPMO (Enterprise Project Management Office) in today s organizations

The growing importance of EPMO (Enterprise Project Management Office) in today s organizations The growing importance of EPMO (Enterprise Project Management Office) in today s organizations Abstract: This paper discusses the growing importance of Enterprise PMO in organizations. The paper highlights

More information

Assessing the Appropriate Level of Project, Program, and PMO Structure

Assessing the Appropriate Level of Project, Program, and PMO Structure PMI Virtual Library 2011 Daniel D. Magruder Assessing the Appropriate Level of Project, Program, and PMO Structure By Daniel D. Magruder, PMP Executive Summary Does your organization have in-flight projects

More information

Information Technology Governance Overview and Charter

Information Technology Governance Overview and Charter Information Technology Governance Overview and Charter Prepared by: Project #: Date submitted Document version: IT Governance Charter v03.05.2012 1.0 48.0 - Page 1 of 34 Document History Version Date Author

More information

EVOLVING THE PROJECT MANAGEMENT OFFICE: A COMPETENCY CONTINUUM

EVOLVING THE PROJECT MANAGEMENT OFFICE: A COMPETENCY CONTINUUM EVOLVING THE PROJECT MANAGEMENT OFFICE: A COMPETENCY CONTINUUM Gerard M. Hill Many organizations today have recognized the need for a project management office (PMO) to achieve project management oversight,

More information

The Role of IT Portfolio Management BADM 559 Enterprise IT Governance

The Role of IT Portfolio Management BADM 559 Enterprise IT Governance The Role of IT Portfolio Management BADM 559 Enterprise IT Governance Yong Mai December 11, 2008 Table of Contents Abstract... 1 Introduction... 2 IT Portfolio Management s Role in Business..... 2 Benefits

More information

XX Bank. Enterprise Risk Management. Policy. Date

XX Bank. Enterprise Risk Management. Policy. Date XX Bank Enterprise Risk Management Policy Date 1 TABLE OF CONTENTS PURPOSE OF ENTERPRISE RISK MANAGEMENT PROGRAM... 3 PROGRAM OVERVIEW... 3 ERM FUNCTIONAL ALIGNMENT... 5 Defined Positions... 5 Defined

More information

Project Management: Improving performance, reducing risk When will you think differently about project management?

Project Management: Improving performance, reducing risk When will you think differently about project management? www.pwc.com/jg Project Management: Improving performance, reducing risk When will you think differently about project management? Who are your presenters? David O Brien Senior Manager Lara Haskins Senior

More information

Project Management Professional (PMP) Examination Content Outline

Project Management Professional (PMP) Examination Content Outline Project Management Professional (PMP) Examination Content Outline Project Management Institute Project Management Professional (PMP) Examination Content Outline June 2015 Published by: Project Management

More information

Cyber ROI. A practical approach to quantifying the financial benefits of cybersecurity

Cyber ROI. A practical approach to quantifying the financial benefits of cybersecurity Cyber ROI A practical approach to quantifying the financial benefits of cybersecurity Cyber Investment Challenges In 2015, global cybersecurity spending is expected to reach an all-time high of $76.9

More information

Sales Process White Paper

Sales Process White Paper The objective of this white paper is to explain the value of implementing and managing consistent sales processes. The data included in the white paper has been taken from a variety of sources including

More information

PM Services. Portfolio Strategy, Design and Build

PM Services. Portfolio Strategy, Design and Build PM Services Portfolio Strategy, Design and Build Portfolio Strategy, Design and Build PM Services consultants will design an effective portfolio management system and works closely with client management

More information