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Managing Portfolios
 

Managing Portfolios

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This presentation comes to you from International Project Management Day 2013 - the annual global virtual summit from IIL that brings together business and technology leaders from around the world to ...

This presentation comes to you from International Project Management Day 2013 - the annual global virtual summit from IIL that brings together business and technology leaders from around the world to discuss the latest trends and methods in business, leadership and communications. To view the accompanying video keynotes and presentations connect to the event here bit.ly/1blJSkE or purchase the DVD collection http://bit.ly/1fZ9Yc0

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  • A KPMG study in the UK from 2002 found that among 134 public companies 56% of them had to write off at least one project at an average cost of US$12.5 million. This still didn’t account for Loss of Opportunity cost which likely would have more than doubled that number.
  • Hi my name is Guy Grindborg, a PMP and MoP certified senior consultant/VP with IIL. I have worked in projects, programs and portfolio management over 20+ years in many different industries. I will describe a number of steps that can take your organization to a better use of resources and create better results.
  • Management commitment is a key to success for portfolio management.
  • How do you sell this to your executives?
  • Here we will use a modified cabinet office model to describe portfolio management
  • This is pretty straight off from the cabinet office model and captures the most important first steps.
  • This is pretty straight off from the cabinet office model

Managing Portfolios Managing Portfolios Presentation Transcript

  • Managing Portfolios The most broken function in businesses today Guy Grindborg PMP, MoP guy.grindborg@iil.com ©2013 International Institute for Learning, Inc., All rights reserved.
  • More than US$ 1.7 Billion wasted in 134 UK Companies in 2002 From an Article in: http://www.theregister.co.uk/2002/11/26/it_project_failure_is_rampant/
  • Key message: Need to better control organization’s project and program portfolio Outline five steps in Defining a Portfolio and connecting this to project and program lifecycle management
  • Outline: This presentation covers Management commitment Models Portfolio definition Portfolio delivery PMO Support A call to action
  • Management Commitment Champion needed at executive level Business case Pays for itself Show executives benefits to them Realize Strategic objectives Better control investments
  • Models Definition Focus on Cabinet Office and PMI® Delivery Cabinet Office UK Definition Delivery Define PMI® Define Align Authorize Auth. Align Adapted from PMI® and the UK Cabinet Office
  • Portfolio definition (Practical) Five Steps Identify all ongoing or ready to start initiatives (Understand) Categorize (Business lines, Products, Customers) Prioritize (See next slide) Balance (Resources) Plan (1, 3 , 5 years) Feeds into Delivery Adapted from the UK Cabinet Office Definition
  • Portfolio definition (Practical) Prioritize Use Multi-criteria analysis Financial alone can’t cover all situations Develop a consistent criteria for each category Adapted from the UK Cabinet Office Definition
  • Portfolio definition (Practical) Resources Intricate part of portfolio management Use where priority is high Definition “Zero based planning” Best effort “below the line” Adapted from the UK Cabinet Office
  • Portfolio Delivery (Practical) Aligned with Project and Program lifecycles Gating is managed at Program and Portfolio level Initiatives are provided stage gate funding (See next slide) Continuous re-prioritization of the portfolio (1-3 month) Executives provided monthly data Feeds back into Definition Adapted from the UK Cabinet Office
  • Portfolio Delivery (Practical) Stage Gate Funding A key concept where funding for an initiative is released at the Gate when the initiative is considered still to be viable Adapted from the UK Cabinet Office
  • PMO Support Typical tasks performed by PMO in support of portfolio management Inventory (Identify/Understand) Plan portfolio Monitor and report performance Suggest changes
  • Call to action If you experience resource shortage on a regular basis Make your executives and colleagues aware of the need for Project and Program Governance Alignment with strategic objectives Best use of available resources Sell them on the idea that implementing Portfolio Management will give them control of on-going initiatives and improve the bottom line dramatically…
  • Questions?
  • Intelligence – Integrity – Innovation We invite you to take a closer look at what we can accomplish together. Please visit iil.com or contact learning@iil.com to learn more about our training, consulting, coaching, customized courses and other pathways for professional development. Connect with Us: facebook.com/IIL.Inc @IILGlobal bit.ly/IILlinkedin ©2013 International Institute for Learning, Inc., All rights reserved. bit.ly/IILgoogle youtube.com/IILGlobal allpm.com