Benefits and Beyond: Rethinking the Strategic Value of Project, Program, and Portfolio Management (Mark Langley-PMI and Matt Light, Gartner )
- We need to be able to answer the question, “Why did we do what we did?”
- Benefits realization is a process throughout the project management lifecycle (among high performing organizations) not just at the end.
- We have an increased need for leadership.
- We need two types of project managers: those who are project capable, and a select group of turn-around artists who can also train/mentor junior project managers.
- Benefits realization = ACCOUNTABILITY, which requires a ‘culture of PPM’
- Organizations should match talent with appropriate projects
- If you don’t have a business case, you are guaranteed to not know whether you achieved anticipated value
- Finally, it requires leaders to deliver benefits
Follow the Yellow Brick Road (Michael Hanford, Gartner )
Pros and Cons of Centralized PMO
- Pros: Can develop a better project management culture faster, everyone reports to the same director
- Cons: business knowledge ages, disconnected group from the rest of the business
Identifying and Harnessing Complexity in Projects, Programs, and Portfolios (Robert Handler, Gartner )
- See: A Leader’s Framework for Decision Making for more information on the Cynefin model
- Work in the Simple area of the Cynefin model should not be projectized
- 80% of projects reside in the complicated area
- 20% of projects are likely in the complex area (but drive 80% of the value).
PPM Marketscope (Daniel Stang, Gartner )
- Out of the box report is weak for many PPM vendors
- Most companies never get past time tracking
- It can take 3+ years to resolve resource management challenges
- With new implementations, start small and provide ‘just enough’ visibility
My personal approach is to right-size portfolio management processes to fit an organization's culture and maturity to be effective without creating a bureaucracy. Please contact me if you would like to know more about how project portfolio management (PPM) can help your organization achieve its strategic goals.
Latest posts by Tim Washington (see all)
- Prioritizing Projects With A Scoring Model - October 11, 2018
- A Guide to Building a Project Prioritization Scoring Model - September 4, 2018
- Know The Difference Between Work Intake Versus Stage-Gate - April 1, 2018