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PMO and Value Conference - Eileen Roden and Marisa Silva, London, 25 October 2016

Eileen Roden, Marisa Silva Literary Review PMO and Value APM PMO Specific Interest Group Conference London, 25 Oct 2016

1 of 27
Literary Review
Eileen Roden
Marisa Silva
Value (verb)
 To calculate or reckon the monetary value of; give a
specified material or financial value to; assess; appraise
 To consider with respect to worth, excellence,
usefulness, or importance
 To regard or esteem highly
Value (noun)
 Relative worth, merit or importance
 Monetary or material worth, as in commerce or trade
 The worth of something in terms of the amount of other
things for which it can be exchanged or in terms of some
median of exchange
 Equivalent worth or return in money material, services
etc
Craig introduces the three
primary missions that help
deliver maximum value to a
newly established PMO and
develop a strong foundation
to build on for more
advanced application of the
PMO concept.
The Program Management Office
Use an
opportunity
matrix to
document the
challenges and
opportunities
Current Challenge PMO Opportunity Priority
Inability for management to
have a consolidated view of
project statuses across the
organization software
Provide consolidated central
project reporting; establish project
reporting standards; implement
project management
HIGH
Lack of consistent
methodology for authorizing
projects
Define standards for project
initiation; assist with organizing
and prioritizing potential projects
across business units
MEDIUM
Inability to effectively manage
human resource utilization for
project efforts
Track and resource utilization by
resource at an organizational level
LOW
The Program Management Office
Translate the
opportunity
matrix into a
value statement
Opportunity Current Challenges PMO Objectives Time
Frame
Provide
consolidated
central
project
status
reporting
and
associated
reporting
standards
Lack of consistent
reporting with
standardized measures
leads to potentially
troubled projects gaining
management attention
too late to allow for
effective responses
Lack of historical data
makes project estimating
difficult (estimated 30% of
projects exceed project
budget by 10% or more
due to estimating error
Implement earned value
management reporting
for all projects over 1
million USD
Develop and implement
standardized templates
for monthly project
reporting
Establish reports
repository for historical
reporting and tracking
Short
term
Short
term
Medium
term

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PMO and Value Conference - Eileen Roden and Marisa Silva, London, 25 October 2016

  • 2. Value (verb)  To calculate or reckon the monetary value of; give a specified material or financial value to; assess; appraise  To consider with respect to worth, excellence, usefulness, or importance  To regard or esteem highly
  • 3. Value (noun)  Relative worth, merit or importance  Monetary or material worth, as in commerce or trade  The worth of something in terms of the amount of other things for which it can be exchanged or in terms of some median of exchange  Equivalent worth or return in money material, services etc
  • 4. Craig introduces the three primary missions that help deliver maximum value to a newly established PMO and develop a strong foundation to build on for more advanced application of the PMO concept.
  • 5. The Program Management Office Use an opportunity matrix to document the challenges and opportunities Current Challenge PMO Opportunity Priority Inability for management to have a consolidated view of project statuses across the organization software Provide consolidated central project reporting; establish project reporting standards; implement project management HIGH Lack of consistent methodology for authorizing projects Define standards for project initiation; assist with organizing and prioritizing potential projects across business units MEDIUM Inability to effectively manage human resource utilization for project efforts Track and resource utilization by resource at an organizational level LOW
  • 6. The Program Management Office Translate the opportunity matrix into a value statement Opportunity Current Challenges PMO Objectives Time Frame Provide consolidated central project status reporting and associated reporting standards Lack of consistent reporting with standardized measures leads to potentially troubled projects gaining management attention too late to allow for effective responses Lack of historical data makes project estimating difficult (estimated 30% of projects exceed project budget by 10% or more due to estimating error Implement earned value management reporting for all projects over 1 million USD Develop and implement standardized templates for monthly project reporting Establish reports repository for historical reporting and tracking Short term Short term Medium term
  • 7. Core text for Axelos’ Portfolio, Programme and Project Offices (P3OTM) foundation and practitioner certification.
  • 8. P3OTM Best Management Practice “By putting in place an appropriate P3O model, organizations can improve the delivery of business change and optimize investment to a far greater extent than they could by implementing disciplines within individual programmes and projects on their own.” P3O can add real value to senior management decision making and governance capability if it is:  An appropriate model for the organization  Adequately resourced  Interfaces with decision making bodies  Has services aligned with other service providers
  • 9. P3OTM Best Management Practice Value is determined by the benefits delivered by the P3O and measured by SMART KPIs in three key areas: 1. Programme and project success - eg 20% of all capital projects completing in Q4 will be within 10% budget and timescale 2. Portfolio balance – eg spend on short term contractors in Q1 will be less than £25k (by matching delivery to organization capacity) 3. Enhanced contribution – eg 70% of projects completing in Q1 will have benefits tracked against the benefits realization plan and will be reported on monthly
  • 10. In July 2013, Project Management Institute (PMI) commissioned Forrester Consulting to evaluate strategically aligned PMOs. Forrester developed the hypothesis that strategically functioning PMOs that are closely connected to executive management play an active part in strategic planning and support execution through consistent, but flexible, execution practices. These PMOs can positively influence business results and deliver value at every level of planning and execution and are seen as a critically important part of achieving differentiation in the market and sustaining business growth.
  • 11. Strategic PMOs play a vital role in driving business outcomes The PMO Mission  Create a clearly defined strategic vision  Drive business success through consistent delivery  Enable the organizational change needed for growth  Play an active role in brand ownership
  • 12. Strategic PMOs play a vital role in driving business outcomes Strategic success starts with visibility  PMOs carry a strategic title  Highest level executives dictated the need for change  They report directly to highest executive levels The right approach makes all the difference  Set a vision while still paying attention to fundamentals  Make change management a high priority  Create a culture that embraces organizational excellence  Use gained transparency to make strategic moves
  • 13. Strategic PMOs play a vital role in driving business outcomes Use standard metrics to make it stick  Simple is better  Focus is critical  The only actionable KPI is an actionable one  Measuring PMO value is difficult but necessary
  • 14. Strategic PMOs play a vital role in driving business outcomes How strategic PMOs measure value to their peers
  • 15. Research for PMI’s Pulse of the Profession™ In-Depth Report: The Impact of PMOs on Strategy Implementation was conducted in July 2013 among 533 PMO leaders who have final decision-making authority for their PMO.
  • 16. • Project-specific PMOs show the highest level of business value realization • Just 33% of the PMOs are realizing its full potential in contributing business value • Project alignment to strategic objectives: top-rated PMO function having the greatest potential for adding real business value • High-performing PMOs are more than 3x as likely to realize their potential in contributing value to their organizations as low-performing PMOs The Impact of PMOs on Strategy Implementation
  • 17. • “2 out of 5 PMO leaders cite lack of direction and governance as the reason the value of their PMO is not being fully realized” (p. 9) • “PMOs assessing performance and reporting out the results reminds senior management of the value the PMO brings to the organization” (p. 12) • “PMOs need to need to speak the language of the C-Suite to show their value and to ensure alignment with objectives” (p. 14) Competencies of high-performing PMOs: The Impact of PMOs on Strategy Implementation
  • 18. The book presents the results of a multi-year, multi-method research program aimed at developing a better understanding of PMOs: what they are, how they’re structured, what they do, their strengths and weaknesses. The research included a survey of 50 PMOs worldwide.
  • 19. The competing values model (applied to PMOs): The Project Management Office (PMO): A quest for understanding
  • 20. Studying project management implementations for the Value of Project Management project, three detailed cases are compared with the additional 62 organizations in the value project to study how PMOs are connected to value realization for organizations investing in project management. Specifically looking to understand how PMOs deliver sustained value to organizations. View issue TOC Volume 40, Issue 1 March 2009 Pages 55–72
  • 21. Building value through sustainable project management offices  How is a PMO connected to value realization for organizations investing in project management?  How do organizations increase or sustain the value received from investments in PMOs?
  • 22. Building value through sustainable project management offices 1. Build a core ideology for the long term • No one else in the organization is more passionate or knows more about how to manage/deliver projects more efficiently or effectively. • Flexibility AND a standard methodology are compatible concepts, as is the ability to be both a competent leader AND manager, have both a people AND a task focus, and manage internal AND external relationships. • It is better at supporting, managing, and developing project managers than anyone else in the organization What you are deeply passionate about? What drives your economic engine? What you can be better at than anyone else in the world? PMO valueHedgehog Concept from Jim Collins, “Good to Great” (2001) and Built to Last (1994)
  • 23. Building value through sustainable project management offices 2. Pick the right PMO leadership • Managing and leading the PMO requires strong transformational and people-oriented leadership skills and behaviors • Passionate, focused, and determined about what constituted effective project management. • Low-key, patient, but confident personality • Quickly demonstrating the proof and value of what they were advocating with quick, simple wins 3. Staff the PMO carefully • “Get the right people on the bus, the wrong people off, get the right people in the right seats THEN figure out where to drive it” • Invest time and promote from within
  • 24. Building value through sustainable project management offices 4. Create a culture of discipline • Disciplined people + disciplines action, ie accountability + responsibility 4. Confront the brutal facts, but keep the faith • Regular, consistent, clear status reports presented to project stakeholders
  • 25. Building value through sustainable project management offices  “Effective PMOs continue to add value specifically by changing and reinventing themselves - as long as they stay focused on the principle of improving project management in the organization.”  “Building a project management competency and an effective PMO function that continues to deliver value is not a one-time effort, nor an overnight one—it is an ongoing, continuously evolving investment that needs to be managed by qualified, visionary, effective leaders.”
  • 26. Over to you . . .  What do you think?  How does it work in practice?
  • 27. This presentation was delivered at an APM event To find out more about upcoming events please visit our website www.apm.org.uk/events