2. Right Projects Right Time Right Way
Every project, program and
stream of activity contributes
to the strategy
All activities, programs and
projects are planned to
deliver on:
• The business schedule
• Without conflict with or
cannibalisation of other
activities
The hygiene factors:
• Feasible Plan
• Appropriate method
• Useful indicators of
success
• Useful reporting
• Workable governance
• Streams of activity
• Programs
• Projects
The Elements of Portfolio Management
3. Getting to Effective Portfolio Management
Identify projects and
programs
Assess them
against the strategy
Map all the projects
and programs into a
timeline
Assess the
schedule against
the strategy
Identify the methods
and tools being used
Assess whether
these fit the
strategy
Bring it all
together in
scenarios against
which executives
can make
informed
decisions on the
priorities of and
investment in
projects and
programs
Implement
and
manage
Agree policies,
processes and
procedures to be
used by the
organisation
4. Identifying Projects and Programs
1. Some are obvious.
2. Others need to be uncovered:
• As a working definition of these RNC uses -
o any activity that spans disciplines and/or management units in its development or
deployment;
o and any activity that cannot be achieved within a discipline and/or management unit
within existing budget;
o any activity within a discipline and/or management unit where the people working on it
would otherwise be engaged in work on other projects (i.e. where discipline insular
activities cannibalise other work outside the discipline).
3. Management needs to decide on the criteria for defining a project and in refinement of the above
can cover, expenditure levels (though this is a poor indicator of contribution of a project). This
decision can be taken once all the activities are identified.
4. Management needs to decide what if any consequences there are for keeping ‘skunk’ projects.
5. Assess the Projects Against the Strategy
Theorganisation’s
goal
Theorganisation’s
strategy
Strategy is delivered through streams of activity
All projects must contribute to
these streams of activity.
Make the assessment based
on planned benefit rather than
just investment.
6. Identify the Methods and Tools Being Used
Thoughts to consider:
1. Having different methods and tools isn’t necessarily a bad thing – as long as management has
the visibility, transparency and confidence it needs in order to make informed decisions.
2. Think in terms of what you want to know and see, rather than allowing tools and project people to
let you know what they want you to know.
3. Consider eliminating ‘amber’ as a project status colour.
4. Consider eliminating percentage complete and go instead for agreed progress at date and for
investment. Any deviation needs a remediation plan.
5. Consider creating a trusted advisor to the projects. The tools and methods will never make up for
poor execution, and an experienced project person will glean more about status over a coffee
than reading reports.
7. Working Assumptions
1. People will resist providing transparency into their projects and programs.
2. Every sponsor believes their projects and programs are critical.
3. Every project and program will be incredibly successful – at the start and until it isn’t.
4. Sponsors and project leaders will need convincing to adopt any change in practice and reporting
– there will be push back.
5. It will be difficult for the executive to provide the authority to the PMO that it needs in order to
obtain really useful information (now and ongoing) – influence and support will be required.
6. Every project and program person will think it’s a good idea to look into someone else’s project.
7. People will become very committed to the tools and reporting they are using at the moment and
will obfuscate any change with escalation around time wasting, impact on time, resources and
outcome.
8. Talk to us –
Diane Dromgold
Managing Director
RNC Global Projects
Head Office
Level 57
19-29 Martin Place
Sydney NSW 2000
Other Offices
Singapore; Hong Kong; USA;
Canberra
www.rncglobal.com
ddromgold@rncglobal.com
0419 622 649
+61 2 9238 1990