Implementing Project Portfolio Management

Implementing Project Portfolio Management

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  Implementing Project PortfolioManagement “ Why is this a good Idea” David Lipper, PMP, CSP Stan Lipper, PMP
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  What is ProjectPortfolio Management It provides a view into all projects within an organization which allows for better project decisions to help meet business objectives and is focused on value creation .
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  Advantages of ProjectPortfolio Management Targets initiatives that support organizational objectives Evaluation and adjustments of project priorities Provide management with project summary and Detailed Status Information Helps promote stronger relationships among projects Better resource planning Source of information for process improvement Enhanced communications and cooperation among project and management Serves as a capacity planning tool
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  Additional Benefits ofProject Portfolio Management Promotes use of better project management practices and disciplines Greater visibility helps in issue resolution process Cost savings due to better project performance and alignment to business objectives Stronger recognition of project successes Stronger estimation ability due to greater metric data collection
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  What is neededfor a Successful Implementation Management support and involvement Project portfolio software tool High-level project management framework Project plan that minimizes the impact on current initiatives and contains a phased approach Strong change management approaches A culture that can embrace some level of best practices Choosing a PPM approach that best fits the organization
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  Steps in ImplementationProject Portfolio Management Assess the organization for readiness - depending on the assessment results : Define success criteria Prepare an inventory of current and planned project initiatives Prepare a resource inventory that includes skill sets and quantity Build and implement a high-level project management Framework that best fits the organization’s culture Establish a roadmap toward implementation Implement process to evaluate value Plan for and implement IT governance
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  Steps in ImplementationProject Portfolio Management Asses the organization for readiness - depending on the assessment results : (Continued) Implement or enhance process improvement throughout Implement initial dashboading and PKIs Launch a good training program Install a project portfolio software tool Define, implement or enhance time management Define, implement or enhance work flows into tools Implement or enhance resource planning and management
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  Inventory Projects InventoryResources PM Framework Roadmap Toward Implementation Value Measurement Plan Plan for IT Governance Implement Initial Dashboading Time Management Enhance work flows Implement Resource Planning and Management Define Success Criteria Enhance Management Reporting Ongoing Process Improvement Plan for Process Improvement A Structure for Success
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  Project Portfolio Management Involved Participants IT and IT Management Business customers and Management Human Resources Finance Vendors Auditing
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  Lessons Learned Thisis a significant project and will take time and investment Expectation must be carefully managed Strong communications is vital If value is not evident throughout the project there will be pressure to down scope Embrace organizational variations in processes and approaches Small incremental changes can make adoption easier
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  Books: Project PortfolioManagement: A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits by Harvey A. Levine The Standard for Portfolio Management by Project Management Institute IT Services Portfolio Management Best Practice Handbook by Gerard Blokdijk, Ivanka Menken Optimizing Corporate Portfolio Management: Aligning Investment Proposals with Organizational Strategy by Anand Sanwal Articles: http://www.cio.com/article/31864/Portfolio_Management_Done_Right http:// www.pmsolutions.com/uploads/pdfs/ppm_maturity_summary.pdf Additional Resources: