PPM Studio: 7 Steps For Projects Portfolio Improvement

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7 steps for Portfolio Management improvements provides 7 basic and simple checks to get insight about your project, resource and assets investments and help you in improving their performance

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  • Having a Project Governance process in place will help organization in seeing all project requests in centralized system, where the projects can be evaluated against business goals, strategic alignment, competing investments, prioritization of projects, and keeping the projects investments in limited budget etc.
    There could be multiple techniques which can be applied to establish a project governance process which can start with basic review and approval of project request with project approver and stakeholder’s to evaluate a project request among all projects requests based on business value indicators e.g. Project Ranking, Strategic value, Net Present Value, Internal rate of Return etc.
    Project Governance helps organizations in identifying, selecting and executing most important and critical projects among 100’s of projects requests.
  • In today’s environment, in most of the organizations PMO is primarily focused on task planning and project schedule management and other parameters of project management been deferred till the time they won’t become bottle neck to the project.
    A successful project delivery can be ensured by having a basic PMO framework which will be equally focused on client needs and deliverables, project schedule, possible risks identification and mitigation planning in advance, also timely issue management.
    A structured change management where any change to project scope after base-lining should go through stakeholder’s approval with possible impact, origin and importance of change.
    The another area where PMO should be focused is on Project Costing and budgeting, the cost could be incurred on project from various dimensions e.g. resource cost, asset cost and miscellaneous cost like adhoc expenses. Any project change shall be evaluated against direct and in-direct cost impact. The project cost shall be tracked against timeline, project profitability or within budget limits.
    The tracking of various listed attributes could be made easy by mapping them with key performance indicators, visual indication of project health helps project managers in observing the signs in early stages and taking the corrective action on time.
    Automated communication and alarms on deviation from project objectives would help in keeping stakeholder’s informed and mitigating any risk.
  • The biggest challenge is resource utilization at organization level!!
    Advance resource planning would help resource manager’s to identify resource needs by role, by duration, skill set etc. Resource manager’s can allocate resources to projects in advance which will give direct visibility on current as well as future resource utilization.
    The projects teams will be benefitted by working competent resources on the projects. Resources can be shared or full time as per project requirements.
    Timesheet update and approval could be followed to ensure time spent on work allocated and work performed. Timesheet will help resources and managers to ensure resource time been spent to right and allocated task.
  • Consolidation project cost data at organization level would help organizations in managing over all financials in terms or investments made in various projects.
    The consolidation would help organizations in getting holistic view of organization costing in terms of projects costs, operational costs, expenses and strategic investments etc.
    The cost tracking shall be viewed and analyzed from multiple dimensions e.g. Cost incurred by business unit or cost center, cost incurred vs. planned over timeline, cost incurred vs. revenue generation etc.
  • Many times organizations own good no. of fixed assets, those assets could have been procured, leased or rented.
    Organizations made huge investment in asset procurement, but asset utilization is rarely monitored. Many organization who started focusing on asset usage tracking and idle asset inventory they are able to save upto 30% of their IT expenses spent on buying assets.
  • Process definition and automation is key success factor for stabilizing operations of any organization.
    Processes or workflows defines a path or route for projects to move from one gate to another. Providing hard stops, checklists, SLA’s, authorization would help organizations in ensuring quality of delivery, timely response on requests, no process gaps, visibility and control.
    The process definition and follow-up keep organization up to the mark on compliance rules as well as check on any governance issues.
  • The major challenge to the organizations have today is lack or accessibility of past knowledge base. Organizations execute projects on recurring basis but the lessons learnt from past projects been rarely used.
    Organizations can improve a lot on their current project practices for project initiation, planning, estimation, scheduling, risks mitigation etc. by referring or reusing past project data. The usage of centralized knowledge repository would reduce the effort spent on various project activities also gives assurance towards better and consistent project management.
  • PPM Studio: 7 Steps For Projects Portfolio Improvement

    1. 1. www.ppmstudio.com PPM Studio Webinar 7 checks to improve your Projects Portfolio Performance (04-Mar-2009, 11.00 AM EST) Presenters: Deepak Goel (Product Manager) (Deepak_Goel@semanticspace.com)
    2. 2. www.ppmstudio.com Agenda  Company Overview  Identifying hidden issues in Projects Portfolio  Corrective measures to address PPM Issues  PPM Studio Product Demo  Organizational Benefits  Q&A?  Thanks for joining us!!  The session is for 1 hr  Audience will be muted during the session  Please post your queries through chat, all the queries will be answered during Q&A after the session  The presentation slides will be uploaded on our website after the session Instructions
    3. 3. www.ppmstudio.com Semanticspace Technologies LimitedSemanticspace Technologies Limited • In business since 1997 with an annual revenue of $100 Mn, 1200 employees, 10 offices in 7 countries. • Our Offerings • Enterprise solutions • QA & Testing services • Product Engineering • Packaged Applications • Group Companies • Arsin Corporation (Leading SAP Partner) • Prolifics (Leading IBM partner) • Microsoft Gold certified partner • Delivered over 1000 mission critical applications to companies ranging from startup to Fortune 100.
    4. 4. www.ppmstudio.com Project Management Statistics  The main IT project failure criteria identified by the IT and project managers were:  Missed Deadlines (75%)  Exceeded Budget (55%)  Poor Communications (40%)  Inability to meet Project Requirements (37%)  Lack of Planning (39%)  Poor Quality Control (35%)
    5. 5. www.ppmstudio.com Check 1: Project Governance • Defining Business Goals • Ranking Business Goals • Ranking Projects against Business Goals • Evaluate Projects based on strategic alignment, budget required, risk involved, IRR and NPV • What-if analysis to evaluate your projects selections
    6. 6. www.ppmstudio.com Check 2: Project Management Framework • Project Planning • Task Planning • Team Planning • Project Scoping and Change Management • Risks and Issues Management • Project Cost Management • Communication Management • Stakeholder’s Management • Project performance monitoring by KPI’s
    7. 7. www.ppmstudio.com Check 3: Optimizing Resource Management • Advance Resource Capacity Planning • Resource allocation by Project Technology and Competency Requirements • Resource Utilization by skill, by role, by department • Timesheet Management
    8. 8. www.ppmstudio.com Check 4: Overall Financial Management • Project Costing and Billing • Project Expenses Management • Project Profitability • Project Cost by Timeline • Earned Value Management • Overall Organization Financial Management
    9. 9. www.ppmstudio.com Check 5: IT Asset Management • Building a centralized Asset repository • Identifying the needs of assets in advance • Assets investment evaluation • Saving cost on non-utilized assets
    10. 10. www.ppmstudio.com Check 6: Process Automation • Defining Standard processes and practices • Automate manual processes into automated processes • Enforcing quality measures or hard stops on process gates • Following best fit process methodology for different project types
    11. 11. www.ppmstudio.com Check 7: Knowledge Management • Building a centralized knowledge repository • Encouraging PMO to define processes, templates and store them in knowledge repository for organizational use • Submitting Projects data, best practices, lessons learnt to Knowledge repository for future reference • Referring Knowledge repository for past experiences while initiating new project
    12. 12. www.ppmstudio.com Live PPM Studio Demo…
    13. 13. www.ppmstudio.com Q & A?Q & A? Contact us: http://www.ppmstudio.com
    14. 14. www.ppmstudio.com

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