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We touched on the first two items briefly.PPM combined with good governance enables a management team to make better organizational decisions because the right data is in place. The mechanisms are in place to enhance decision making. Better processes + better data = better decisions. Another key is the timing of those decisions, a good leader will proactively collect/review the data to make good timely decisions.
You can have a compass without a map. What would you rather have?What mountain are you going to climb?
Smart (wise): entering the right data at the right time, and being able to process it at the right time to produce reports, analytics, and information that can used to make better decisions at the right time
Building smarter and healthier organizations through project portfolio management
Building Smarter and Healthier OrganizationsTim WashingtonCamp IT ConferenceMarch 14th, 2013Building Smarter and HealthierOrganizations Through ProjectPortfolio Management
Building Smarter and Healthier OrganizationsAgenda• PPM Overview• Leadership• Processes• Tools• PPM 2.0
Building Smarter and Healthier OrganizationsWhat is“Project Portfolio Management”?
Building Smarter and Healthier OrganizationsProject portfolio management is a combination of variousmanagement disciplines:%Management DisciplinesGeneral managementBusiness managementProject and program management
Building Smarter and Healthier OrganizationsProject portfolio management (PPM) is amanagement discipline that drivesstrategic execution and maximizesorganizational value through theselection, optimization, and oversight ofproject investments which align to businessgoals and strategies.PMI QuoteParadigm Shift #1: Projects are an important vehicle for executing strategy
Building Smarter and Healthier Organizations“Portfolio management is the strategy-based, prioritized setof all projects and programs in an organization reconciledto the resources available to accomplish them.”Stanford QuoteParadigm Shift #2: The single project view to a total portfolio view.
Building Smarter and Healthier Organizations“Managing [the] composite groups of projectswith the same rigor, balance, executiveleadership, and decision-making involvementas the company’s financialportfolio. Portfolio Management is anongoing process that includes decision-making, prioritization, review, realignment,and reprioritization.”Financial Portfolio QuoteParadigm Shift #3: Projects are investments!
Building Smarter and Healthier OrganizationsThe Purpose of Portfolio Management• Execute Strategy• Deliver Maximum Value• Enhance Decision Making• Manage Organizational Change
Building Smarter and Healthier OrganizationsAt the highest level, Project Portfolio Management has four basic components:All the steps necessary toconstruct an optimal portfoliogiven current limitations andconstraintsEnsure value is delivered bycomparing expected benefitswith actual benefits; drive PPMmaturitySelected projects must alignwith the business strategy andmeet other important criteriaOptimizePortfolio ValueProject benefits must beprotected in order to delivermaximum portfolio valueProtectPortfolio ValueImprovePortfolio ValueThe Goal:Maximize Value to theOrganizationSelect the RightProjects
Building Smarter and Healthier OrganizationsA Pragmatic View of Project Portfolio ManagementLEADERSHIPThe right leaders for:• Determining what decisionswill be made• Establishing whichinformation is needed tomake strategic decisions• Using the data to makebetter strategic decisions• Driving accountabilityPROCESSThe right processes for:• Governance• Portfolio optimization• Project monitoring• How stakeholders getdata into the PPM tool• How to use the data tomake better decisionsTOOLThe right tool for:• Storing project andportfolio data• Displaying project andportfolio information forgeneral consumption• Transforming the data forreporting and analytics
Building Smarter and Healthier OrganizationsStrategic Leadership Includes:1) Business acumen2) Active engagement3) Proactive view4) Balancing long-term and short-term needs5) Communicating a consistent message
Building Smarter and Healthier OrganizationsTrustConflictCommitmentAccountabilityResults“The only way for teamsto build real trust is forteam members to comeclean about who theyare, warts and all”“When there is trust,conflict becomes nothingbut the pursuit of thetruth, an attempt to findthe best possible answer”“When leadership teams waitfor consensus before takingaction, they usually end up withdecisions that are made too lateand are mildly disagreeable toeveryone. This is a recipe formediocrity and frustration”“To hold someoneaccountable is to careabout them enough torisk having them blameyou for pointing out theirdeficiencies”“No matter how good a leadership teamfeels about itself, and how noble itsmission might be, if the organization itleads rarely achieves its goals, then, bydefinition, it’s simply not a good team”Leadership Teams
Building Smarter and Healthier OrganizationsHealthy organizationsstart with healthyleadership teams
Building Smarter and Healthier Organizations“I’m convinced that if the rate of changeinside the institution is less than the rateof change outside, the end is in sight.The only question is the timing of theend.”--Jack Welch, former chairman of GE
Building Smarter and Healthier OrganizationsHigh IQ: Expert(Proactive)• Shape environment to own advantage• Organizational agility-capacity to change• Distributed strategic intelligence• Mind-set of changeModerate IQ:Competent(Reactive)• Debating when to change• Keep pace and react to external change• Clear options, criteria, and processesLow IQ: Ignorant(Not Active)• Don’t realize the need to change• Strategically blind• Incompetent (“let’s pretend”)Video
Building Smarter and Healthier OrganizationsStrategic Planning (the big WHAT’s)Portfolio Planning (WHEN)Project Planning (HOW)Smart organizations plan on many levels
Building Smarter and Healthier OrganizationsWe Need Clarity (aka alignment)1) Why do we exist?2) How do we behave?3) What do we do?4) How will we succeed?5) What is most important for us, right now?6) Who must do what?These questions must be answered together, not in isolation
Building Smarter and Healthier OrganizationsLeadership Needs to Over-communicate ClarityProblem: leaders confuse the mere transfer of information toan audience with the audience’s ability to understand,internalize, and embrace the message that is beingcommunicated.Great leaders see themselves as “Chief Reminding Officers”
Building Smarter and Healthier OrganizationsGovernance asthe FrameworkWhich EnablesAccountabilityA Shared VisionWith Strategic Goalsto DemonstrateAccountabilityLeadershipto DriveAccountabilityCritical Components of Accountability
Building Smarter and Healthier OrganizationsWhat Kind of Governance Do You Need?PPM is only bureaucratic if you have the wrong infrastructure
Building Smarter and Healthier OrganizationsWhat Kind of Direction Do You Need?“Informed Intuition” Strategic Roadmapwith MetricsStrategic Goals
Building Smarter and Healthier OrganizationsLEADERSHIPLeadership determineswhat data is importantfor managing theportfolio and drivesaccountability for gettingthe right data.PROCESSThe right processesget the right data intothe system at the righttime.TOOLA portfolio systemstores and transformsthe data for generalconsumption (reportingand analytics).LEADERSHIPLeadership thenuses the data tomake betterinvestmentdecisions at theright time.The Data Perspective of Project Portfolio ManagementGood data is the fuel that makes the portfolio engine run!
Building Smarter and Healthier Organizations1. Sr. Mgt.Uses theData2. Sr. Mgt.CommunicatesThat the Data isBeing Used3. Sr. Mgt.DemonstratesHow the DataIs Being Used4. DataQualityImproves5. BetterDecisionMakingEnsues
Building Smarter and Healthier OrganizationsIf the cost of putting data into your PPM System exceeds the value ofinformation coming out of your PPM system, then leadership needsto re-think its processes or the organization is using the wrong tool.ReportsAnalyticsInformationData PPMSYSTEMThink about it!
Building Smarter and Healthier OrganizationsCurrentStateFuture State(expected benefit)Actual Benefit(post-completion)Benefit Gap1. What benefits are weexpecting in the future?(business case)2. What benefitshave we realized?(benefits tracking)3. How do we ensurewe realize full benefitson future projects?(lessons learned)Benefits Realization Summary
Building Smarter and Healthier OrganizationsPPM 2.0StrongerCommunitySocialCollaborationPPM 2.0 is about buildingsmarter and healthier organizations
Building Smarter and Healthier OrganizationsFor more information
Building Smarter and Healthier OrganizationsContact Information@ppmexecutionhttp://www.linkedin.com/in/timawashingtonName: Tim WashingtonEmail: email@example.comWeb: www.ppmexecution.com