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Building a highly Successful PMO

This talks about building a holistic Project Management Office including Project Portfolio Management, Change Management and Best practices in project management, change management, portfolio management and resource management. This includes success stories in building this solution.

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Building a highly Successful PMO

  1. 1. Building a Successful PMO to Improve your Business BY CAROLYN REID CAROLYN REID, CSR CONSULTING LLC 3/27/18
  2. 2. The PMO  Project Management Office  Elements of the Project Management Office (PMO)  PMO Solution and Success  PMO Roadmap: the path for Project Management Improvement  Success Story  Project Portfolio Management (PPM)  Why PPM?  How does it fit in the Organization?  Success Story  Organizational Change Management  Why OCM?  Success Story  The Big Picture Carolyn Reid, CSR Consulting LLC 2
  3. 3. Project Management Office (PMO) Increases project success with on- time and on- budget delivery and realized benefits, driving business growth through customer satisfaction Carolyn Reid, CSR Consulting LLC
  4. 4. Elements of the Project Management Office  Project Governance  Project Performance Management  Project portfolio management  Organizational Change Management  Resource management  Information repository  Project management processes and methodology  Training and mentoring in project management  Project document library/ knowledge management Carolyn Reid, CSR Consulting LLC 4
  5. 5. The PMO Solution to prevent Project Failure Causes of Project Failure PMO solution Scope Creep Structured Project Governance and project change management system for changes to project scope. Clear, agreed upon deliverables. Insufficient resourcing Best Practice Resource Management as part of overall Project Lifecycle Management Poor estimation Provide estimation tools and estimates from subject matter experts Poor Risk Management, Poor Planning Best Practice Project Management Processes Lack of Sponsorship, lack of stakeholder buy-in Best Practice Organizational Change Management as part of the overall Project Lifecycle Project objectives do not tie to the business strategy Project Portfolio Management Carolyn Reid, CSR Consulting LLC 5
  6. 6. Ensuring Project Success Sponsor Support Training and learning Teamwork, Cooperation, Communication and Collaboration Stakeholder buy-in Business owns the results People Best Practice in: Organizational Change Management Project Management Portfolio Management and PMO Resource Management Processes and Procedures Projects tied to business strategy Structured corporate culture supportive of project management and change management with high competency in both areas The Organization Carolyn Reid, CSR Consulting LLC 6
  7. 7. PMO Roadmap : The Path for PM Improvement How Analysis of current state, gap identification and path to move forward to improve the PMO Why Ensures continued improvement Provides recommendations on high-priority action items and needed reinforcement Carolyn Reid, CSR Consulting LLC 7
  8. 8. Keys to Success of a PMO implementation Alignment with Organizational Strategy Leaders committed to Project Mgt./ Culture that supports Project Management Organizational Change Management Competency Roadmap for continuous improvement Project Management training Best Practice Project Management Processes and governance Carolyn Reid, CSR Consulting LLC 8
  9. 9. Success Story: Building a PMO for a very large Healthcare Business •Projects Failing •Not achieving corporate strategy Issues they were dealing with •Need operational capacity assessment and decision making tool to minimize resource gaps/ constraintsCapacity Optimization •Developed and enhanced benefit realization framework •Measured for Benefits realization Benefits Realization •Exceeded aggressive targets across multiple dimensions •Prioritized 200+ investments based on strategic alignment and ROI •Achieved strategy and realized benefits Results Carolyn Reid, CSR Consulting LLC 9
  10. 10. Project Portfolio Management Carolyn Reid, CSR Consulting LLC 10
  11. 11. Why Project Portfolio Management •Has more ideas/ plans/ regulations that require investment than you have resources •Are we doing the right projects? The Organization •Need to select projects that ensure Maximum ROI •Projects must lead to achievement of corporate strategy •Projects need contribute to growth C Level and Business Managers •Match resource capacity to demand •View performance across the portfolio of projects •Right-size the portfolio of projects •Eliminate failing projects Project Management and Portfolio Management Carolyn Reid, CSR Consulting LLC 11
  12. 12. Signs that you need Project Portfolio Management  You are not meeting your strategic goals  You are not getting the projected ROI  You do not have visibility into the health of the projects  Resource (people and budget) demand exceeds capacity  Your business is not keeping up with the market  You are losing market share  Priorities change frequently  You are challenged to achieve more with less  Your business is not keeping up with the pace of the market Carolyn Reid, CSR Consulting LLC 12
  13. 13. Benefits of Project Portfolio Management Improves investment decision making and provides the organization with the flexibility to respond quickly to changes in the market Enables decision makers to strategically prioritize, plan and control project portfolios Improves resource allocation and efficiency: Maximizes the ROI of the Portfolio of Projects and aligns work with strategy Carolyn Reid, CSR Consulting LLC 13
  14. 14. How does Project Portfolio Management fit in the organization? VISION BUSINESSPROCESS FOLLOW-UP STRATEGY PROJECTS PORTFOLIO VISION BUSINESSPROCESS FOLLOW-UP STRATEGY PROJECTS PORTFOLIO Strategic Objectives Select, Prioritize, Review, Approve Investments Balance the Portfolio. Review Project Performance Core Competency Have goals changed? Is the Project failing? Carolyn Reid, CSR Consulting LLC 14
  15. 15. Keys to success for a Project Portfolio Management Implementation Leadership commitment and consensus Clear strategic objectives Institutionalized investment management •Portfolio management decisions tied to strategy Project selection criteria to support decision making process Carolyn Reid, CSR Consulting LLC 15
  16. 16. Success Story: Building Project Portfolio Management Implementation in the Service Industry •They were not investing in the right projects and were not realizing the expected benefits. •They did not have the capacity for all of the projects in work.Issues they were dealing with •Managed operational capacity risks via resource availability, system impacts, schedule levers and optimized operations Capacity Optimization •Developed and enhanced benefit realization framework •Measured for Benefits realization Benefits Realization •Prioritization model built to achieve corporate strategy and optimize ROI across the portfolio of projects. •Strong competitive advantage for the organization Results Carolyn Reid, CSR Consulting LLC 16
  17. 17. Organizational Change Management Carolyn Reid, CSR Consulting LLC 17
  18. 18. Signs that you need structured change management  Your corporate culture cannot easily change to keep ahead of the competition  Your business is not keeping up with the pace of change in your industry  Projects fail because of stakeholder resistance and lack of user buy-in  You have too many changes in progress at once causing higher project failure and increased loss of productivity 18 Carolyn Reid, CSR Consulting LLC
  19. 19. Financial Benefits of OCM: • Speed of adoption, ultimate utilization, proficiency • Earlier break-even point and pay- back period • What portion of your project relies on people productively using the new system, process…? ROI • Budget overruns when people don’t adapt • Minimizing the dip in productivity Cost Avoidance 19 Carolyn Reid, CSR Consulting LLC
  20. 20. The Change- Ready, Agile, High-Performing Organization MIT: “Agile Organizational Revenue growth is 37% faster with 30% higher profit.” Research is showing that top performing companies are Agile Quick response to fast changing markets The top performers This Agile Organization will have Organizational Change Management at a Corporate Level 20 Carolyn Reid, CSR Consulting LLC
  21. 21. Success Story: Building the Holistic Project Management Office with OCM and PPM for a large technology company •Projects were failing. •Productivity was low due to change saturation. •People we not adopting changes. Issues they were dealing with •Established Change Management Office Project Management Office and Communities of Excellence. •Provided CM training across leaders/ sponsors, managers/ coaches and employees •Established best practice Change Management and Project Management processes Project Management Office Foundation •Measured for adoption and proficiency •Managed resistance/ Risk and balanced portfolio according to capacity, amount of change and prioritization for maximum ROI •Measured for Benefits realization Benefits Realization •Change adoption on major change initiatives leading to realization of expected ROI •Improved productivity and achievement of corporate Goals •Improved project success rates Results Carolyn Reid, CSR Consulting LLC 21
  22. 22. Bringing it all together to optimize the Business BUILDING THE OPTIMIZED PMO WITH: PROJECT PORTFOLIO MANAGEMENT BEST PRACTICE PROJECT MANAGEMENT BEST PRACTICE CHANGE MANAGEMENT Carolyn Reid, CSR Consulting LLC 22
  23. 23. The Big Picture Carolyn Reid, CSR Consulting LLC 23 Strategic Planning to Benefit Realization is a lifecycle process
  24. 24. Thank You Contact Information: Carolyn Reid csreid1@cox.net 602-882-5292 Link In with me: https://www.linkedin.com/in/carolynreid/ Carolyn Reid, CSR Consulting LLC

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