project portfolio management blog xellentro consulting services llp | july 2014
TRANSCRIPT
PROJECT PORTFOLIO MANAGEMENT
Blog
Xellentro Consulting Services LLP | July 2014
IntroductionSPPM Workshop
Portfolio – Program – Project Management
Portfolio
Program
Project
Doing the Right Thing
Realizing the Benefits
Doing things Right
Strategic Alignment Governance Risk Resource
Verification & Validation
Prioritization Resource
Scope Cost Time Quality
Challenges of Portfolio Management
Strategy
Governance
Management
Tools
• Alignment to objective not there• Many projects and programs meeting same objective• Many “Must Have” Projects and Programs• Prioritization not done properly
• No process for poor performing projects to be killed• Business case unrealistic• BAU projects are managed separately• Interdependence not assessed properly
• Lack of experience to manage• PM skills not valued as critical• Change absorption Capability is less
• Inconsistent data and no “single version of truth”• Lack of effective reporting and analysis• Reporting seen as a burden and ineffective
Portfolio Management Process Model
Proper understanding and Implementation of Portfolio Management Process helps to remove the challenges mentioned. MoP defines the following as the model of Portfolio Management
Portfolio Management Process
MoP defines a set of Portfolio Management Principles and Portfolio Definition and Delivery Cycles as part of the Portfolio Management Process
Principles
Senior Management Commitment
Governance Alignment
Strategy Alignment
Portfolio Office
Energized Change Culture
Definition Cycle
Understand
Categorize
Prioritize
Balance
Plan
Delivery Cycle
Management Control
Benefits Management
Financial Management
Risk Management
Stakeholder Engagement
Organization Governance
Resource Management
Portfolio Management Implementation
To be able to get the benefit, there is a need to have an Enterprise wide Project Portfolio Management Process to be implemented giving the holistic advantage. The data and information needs to travel at all levels.
Alignment with Business Objectives
Visibility & Control
Collaboration
EnterpriseProject
Management
Portfolio Management
Execution Management
PMO, Program and Project Managers
Project Team Members
Investment Decision Makers and
Portfolio Managers
Portfolio Management Consulting
We at Xellentro help organizations to get this advantage by providing our experts to: Assess the current state Do Gap Analysis of the process Define / Modify the process to remove the gaps Hand-hold the Program and Project Managers to implement the process Setup and handhold Program Managers/Portfolio Management Office Help creating the competency with training and hand-holding Transition to the organization Audit and/or Maturity Assessment at regular intervals
Xellentro Consulting Services LLP
C 402, Ajmera Infinity, Electronics City Phase 1 Bengaluru, 560100