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Making Informed Choices That Move Us Beyond Our Default Future

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Making Informed Choices That Move Us Beyond Our Default Future

  1. 1. Making Informed Choices– that move us beyond our default futureDavid Trafford
  2. 2. Our choices define our future© Copyright Formicio Limited 2
  3. 3. Past choices define today The estimated cost of project failure across the European Union is in excess of € 142 billion A recent Gartner survey concluded that most CEO’s felt that their CIOs are “not cut out for the board”© Copyright Formicio Limited 3
  4. 4. Doing things right - Doing the right things© Copyright Formicio Limited 4
  5. 5. Some choices will be strategic© Copyright Formicio Limited 5
  6. 6. Ideas drive choice© Copyright Formicio Limited 6
  7. 7. Choices are complicated by our legacy of past choices and ...© Copyright Formicio Limited 7
  8. 8. … realisation that we live in a non-linear world© Copyright Formicio Limited 8
  9. 9. What do we: start stop retire reshape reschedule© Copyright Formicio Limited 9
  10. 10. We’re likely to make better choices if we are informed© Copyright Formicio Limited 10
  11. 11. Making informed choices requires: facts analysis context judgement© Copyright Formicio Limited 11
  12. 12. ... on:  assets  usage  architecture  initiatives  people  risks  strategy© Copyright Formicio Limited 12
  13. 13. WHAT IF Analysis of impact on:  architecture  change portfolio  compliance  customer  strategy© Copyright Formicio Limited 13
  14. 14. Context defines how we see the world – the lens that creates our criteria for choice© Copyright Formicio Limited 14
  15. 15. Is your context a portfolio of options? ...© Copyright Formicio Limited 15
  16. 16. ... or a roadmap to an ‘improved’ future?© Copyright Formicio Limited 16
  17. 17. “Good judgement comes from experience, and often experience comes from bad judgement” Will Rogers 1879 – 1935© Copyright Formicio Limited 17
  18. 18. If deciding WHAT to do is increasingly important we need to develop an organisational capability that builds and maintains a dynamic, balanced portfolio of initiatives and assets Let’s call this organisational capability PORTFOLIO MANAGEMENT© Copyright Formicio Limited 18
  19. 19. Organisational capabilities are:  Part of the organisation’s DNA  Embedded into the way things are done  Not lost when people leave© Copyright Formicio Limited 19
  20. 20. An organisational capability has shared:  mental models  frameworks  language  processes  tools  beliefs© Copyright Formicio Limited 20
  21. 21. Many have failed to develop portfolio management as an organisational capability. Why? Too focused Each initiative is on process judged in isolation Key aspects of governance not addressed Lack of clarity on strategic imperatives and target improved future© Copyright Formicio Limited 21
  22. 22. Capability develops through levels of maturity Optimising Focus on continual improvement Managed Focus on quantitative measures Maturity/Performance Designed Focus shifts to end-to-end process design Repeatable Reduce variability and increase effectiveness Ad Hoc Inconsistent Time/Effort© Copyright Formicio Limited 22
  23. 23. What are the conditions for successful portfolio management? 1. Clarity of the targeted improved future 2. A process with an owner 3. Objective criteria to evaluate each initiative and asset 4. Governance with clear accountabilities and decision rights 5. Maturity to hold crucial conversations 6. Enterprise as opposed to business unit focus 7. Architects that take a business perspective 8. Willingness to change as priorities change 9. Ability to make informed choices© Copyright Formicio Limited 23
  24. 24. Portfolio management – as a mature organisational capability – enables the business and IT to ... Reduce complexity Reshape/reschedule Manage risk initiatives to reflect changing circumstances Get everyone on Have one version the same page of the truth ... by making informed choices© Copyright Formicio Limited 24
  25. 25. Who is the best person to develop this organisational capability?© Copyright Formicio Limited 25
  26. 26. © Copyright Formicio Limited 26
  27. 27. "We are what we repeatedly do. Excellence, therefore, is not an act but a habit." Aristotle, 384 BC – 322 BC© Copyright Formicio Limited 27
  28. 28. David Trafford david.trafford@formicio.com +44 (0)20 7917 2993 www.Formicio.com© Copyright Formicio Limited 28

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