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Successful Project Portfolio Management - Strategies, Tactics, Tips and Lessons Learned

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Co-presented by Ron Montgomery and Tom Witty at the 2018 KC PMI PDD days. The purpose of the presentation was to apply principles of strategy delivery and portfolio management to bridge the gap between strategy and execution.

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Successful Project Portfolio Management - Strategies, Tactics, Tips and Lessons Learned

  1. 1. Successful Project Portfolio Management Deployment Strategies, Tactics, Tips and Lessons Learned Ron Montgomery - PMP, PMI-ACP, CSM Tom Witty - PMP, SMP October 2nd, 2018
  2. 2. 2 October 2, 2018Successful PPM Deployment
  3. 3. The Business Problem (that PPM can solve) Across our economy, there is growing awareness that, as key leaders formulate strategy and execute on that strategy… 3 October 2, 2018Successful PPM Deployment Business Strategy … a gap in understanding, performance and execution often occurs for those charged with implementing the initiatives flowing from the strategy.
  4. 4. The Business Problem (that PPM can solve) 4 October 2, 2018Successful PPM Deployment Business Strategy This gap invariably translates into…
  5. 5. The Business Problem (that PPM can solve) 5 October 2, 2018Successful PPM Deployment Business Strategy This gap invariably translates into… We suggest that PPM can be a key solution to this Business Problem.
  6. 6. Personal Portfolio Management 6 October 2, 2018Successful PPM Deployment Principles: Set a goal Have a plan Measure results Balance risks
  7. 7. 7 October 2, 2018Successful PPM Deployment Brightline Initiative PMI Portfolio Management Project Portfolio Management: Guiding Principles
  8. 8. Enterprise-wide Strategic Execution STRATEGY DEMAND PLANNING EXECUTION OUTCOME TEAM COLLABORATION ANALYTICS AND REPORTING
  9. 9. The PMI PPM Performance Domains 9 October 2, 2018Successful PPM Deployment Project Portfolio Performance Domains: 1. Governance 2. Capacity and Capability Management 3. Stakeholder Engagement 4. Value Management 5. Risk Management 6. Strategy Management The Standard for Portfolio Management – Third Edition (2013), pg., 10
  10. 10. Intro to the Brightline Initiative 10 October 2, 2018Successful PPM Deployment https://youtu.be/izqlOEgxm1M
  11. 11. Brightline Initiative – Guiding Principles 1. Acknowledge that strategy delivery is just as important as strategy design. 2. Accept that you’re accountable for delivering the strategy that you designed. 3. Dedicate and mobilize the right resources. 4. Leverage insight on customers and competitors. 5. Be bold, stay focused and keep it simple as possible. 6. Promote team engagement and effective cross-business cooperation. 7. Demonstrate bias toward decision-making and own the decisions you make. 8. Check ongoing initiatives before committing to new ones. 9. Develop robust plans but allow for missteps – fail fast to learn fast. 10. Celebrate success and recognize those who have done good work. 11 October 2, 2018Successful PPM Deployment
  12. 12. Brightline Initiative – Guiding Principles 1. Acknowledge that strategy delivery is just as important as strategy design. 2. Accept that you’re accountable for delivering the strategy that you designed. 3. Dedicate and mobilize the right resources. 4. Leverage insight on customers and competitors. 5. Be bold, stay focused and keep it simple as possible. 6. Promote team engagement and effective cross-business cooperation. 7. Demonstrate bias toward decision-making and own the decisions you make. 8. Check ongoing initiatives before committing to new ones. 9. Develop robust plans but allow for missteps – fail fast to learn fast. 10. Celebrate success and recognize those who have done good work. 12 October 2, 2018Successful PPM Deployment
  13. 13. Strategy to PPM Principle: Promote team engagement and effective cross-business cooperation. October 2, 2018Successful PPM Deployment13 Standard approach – “Here’s the strategy, now make it work
  14. 14. Principle: Promote team engagement and effective cross-business cooperation. October 2, 2018Successful PPM Deployment14 Alternate approach – “Here’s the strategy, now let’s all work together to make it work, especially my middle managers” Strategy to PPM
  15. 15. • The Middle • Effective Communications • Line of Sight October 2, 2018Successful PPM Deployment15 Strategy to PPM Alternate approach – “Here’s the strategy, now let’s all work together to make it work”
  16. 16. Example: Communication Plan 16 5/25/2017Bridging the Gap between Project Management and Business Strategy Bi-Weekly Leadership Meeting Weekly Senior Staff Meeting All-Associate Meeting Monthly Manager’s Meeting Department Leadership Meetings Department Staff Meetings Steering Committee Meetings Quarterly Blueprint Leadership Meeting Technical Review Board Monthly Blueprint Governance Committee Department Team Meetings Company Board Meetings Project Team Meetings Senior Executives (Pres, CFO) Executives (VP’s) Senior Leadership (AVP’s, Sr. Mgrs) Department Leadership (Mgrs, Supvrs) Project Leads Associates Core Strategy Team Mtgs Department Town Hall Meetings Considerations • “Strategy Office” • Downward Communication • Upward Communication
  17. 17. October 2, 2018Successful PPM Deployment17 Strategy to PPM Because Middle Managers aren’t Psychic - …let’s all work together to make it work! Principle: Promote team engagement and effective cross-business cooperation.
  18. 18. Intro to the PMI PPM Guiding Principles 18 October 2, 2018Successful PPM Deployment 1. Strive to achieve excellence in strategic execution 2. Enhance transparency, responsibility, accountability sustainability and fairness 3. Balance portfolio value against overall risks 4. Ensure that investments in portfolio components are aligned with the organizational strategy 5. Obtain and maintain the sponsorship and engagement of senior management & key stakeholders 6. Exercise active and decisive leadership for the optimization of resource utilization 7. Foster a culture that embraces change and risk 8. Navigate complexity to enable successful outcomes The Standard for Portfolio Management – Third Edition (2013), pg., 7
  19. 19. Intro to the PMI PPM Guiding Principles 19 October 2, 2018Successful PPM Deployment 1. Strive to achieve excellence in strategic execution 2. Enhance transparency, responsibility, accountability sustainability and fairness 3. Balance portfolio value against overall risks 4. Ensure that investments in portfolio components are aligned with the organizational strategy 5. Obtain and maintain the sponsorship and engagement of senior management & key stakeholders 6. Exercise active and decisive leadership for the optimization of resource utilization 7. Foster a culture that embraces change and risk 8. Navigate complexity to enable successful outcomes The Standard for Portfolio Management – Third Edition (2013), pg., 7
  20. 20. PPM to Execution October 2, 2018Successful PPM Deployment20 Standard Approach – let’s try to squeeze in more work www.istockphoto.com #618740506 Principle: Exercise active and decisive leadership for the optimization of resource utilization
  21. 21. PPM to Execution October 2, 2018Successful PPM Deployment21 www.istockphoto.com #919341576 • Short cycles • Integrated planning • Teams define capacity Alternative Approach - Deliver Value Quickly (Value & work are not the same!)
  22. 22. 0.0 1.0 2.0 3.0 4.0 5.0 Roles Processes - Tools MetricsCompetencies Culture Example: Capabilities Plan October 2, 2018Successful PPM Deployment22 Attitudes – behaviors re: fast delivery Soft skills & business knowledge Measure speed Automated testing – change control processes Change mgt. & benefits realization
  23. 23. PPM to Execution October 2, 2018Successful PPM Deployment23 Because no senior exec ever says, “take your time” – Deliver Value Quickly! www.istockphoto.com #919341576 Principle: Exercise active and decisive leadership for the optimization of resource utilization
  24. 24. Team Exercise 24 October 2, 2018Successful PPM Deployment Brightline Initiative PMI Portfolio Management Let’s split up the room…
  25. 25. Group Breakouts 25 October 2, 2018Successful PPM Deployment Brightline Initiative PMI Portfolio Management PMI PPM Performance Domains Governance Capacity & Capability Mgmt. Stakeholder Engagement Value Management Risk Management Strategy Management 1. ..strategy delivery is just as important as strategy design. 2. Accept that you’re accountable for delivering (your) strategy 3. Dedicate and mobilize the right resources. 4. Leverage insight on customers and competitors. 5. Be bold, stay focused and keep it simple as possible. 6. Promote team engagement and effective cross-business cooperation. 7. Demonstrate bias toward decision- making and own the decisions you make. 8. Check ongoing initiatives before committing to new ones. 9. Develop robust plans but allow for missteps – fail fast to learn fast. 10. Celebrate success and recognize those who have done good work. 1. Strive to achieve excellence in strategic execution 2. Enhance transparency, responsibility, accountability sustainability and fairness 3. Balance portfolio value against overall risks 4. Ensure that investments in portfolio components are aligned with the organizational strategy 5. Obtain and maintain the sponsorship and engagement of senior management & key stakeholders 6. Exercise active and decisive leadership for the optimization of resource utilization 7. Foster a culture that embraces change and risk 8. Navigate complexity to enable successful outcomes
  26. 26. Group Breakouts 26 October 2, 2018Successful PPM Deployment Brightline Initiative PMI Portfolio Management PMI PPM Performance Domains Governance Capacity & Capability Mgmt. Stakeholder Engagement Value Management Risk Management Strategy Management 1. ..strategy delivery is just as important as strategy design. 2. Accept that you’re accountable for delivering (your) strategy 3. Dedicate and mobilize the right resources. 4. Leverage insight on customers and competitors. 5. Be bold, stay focused and keep it simple as possible. 6. Promote team engagement and effective cross-business cooperation. 7. Demonstrate bias toward decision- making and own the decisions you make. 8. Check ongoing initiatives before committing to new ones. 9. Develop robust plans but allow for missteps – fail fast to learn fast. 10. Celebrate success and recognize those who have done good work. 1. Strive to achieve excellence in strategic execution 2. Enhance transparency, responsibility, accountability sustainability and fairness 3. Balance portfolio value against overall risks 4. Ensure that investments in portfolio components are aligned with the organizational strategy 5. Obtain and maintain the sponsorship and engagement of senior management & key stakeholders 6. Exercise active and decisive leadership for the optimization of resource utilization 7. Foster a culture that embraces change and risk 8. Navigate complexity to enable successful outcomes
  27. 27. Group Breakouts 27 October 2, 2018Successful PPM Deployment Pick One Guiding Principle… • What has been your experience in applying this Principle in your organization? • So how’s it going for you; lessons learned? • What are some of the “Techniques and Tools” you have used in your organization around this Guiding Principle?
  28. 28. 28 October 2, 2018Successful PPM Deployment
  29. 29. References • 2018 Association for Strategic Planning Conference “Bridging the Strategy Execution Gap” • Association for Strategic Planning - www.strategyassociation.org • The Brightline Initiative – www.brightline.org • The Standard for Portfolio Management – Third Edition (2013) • Scaled Agile Framework (SAFE) – www.scaledagileframework.com 29 October 2, 2018Successful PPM Deployment

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