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PMO and Value Conference - Ray Mead, London, 25 October 2016

Ray Mead
The Circle of Value
PMO and Value
APM PMO Specific Interest Group Conference
London, 25 Oct 2016

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PMO and Value Conference - Ray Mead, London, 25 October 2016

  1. 1. www.p3m.global ©p3m global. All rights reserved.1 The Circle of Value Ray Mead – CEO, p3m global APM PMO SIG, 25th October 2016
  2. 2. www.p3m.global ©p3m global. All rights reserved.2 Who We Are assess Competence Assessments Organisational Maturity p3m Healthcheck Technology Assessments p3m pulseTM develop Training PMO Design & Development Methodology Development Coaching & Mentoring EPM Implementation e-learning p3m pathwaysTM engage Portfolio Optimisation Business Transformation Turnkey Project Delivery Extended Workforce p3m Assurance p3m oneTM
  3. 3. www.p3m.global ©p3m global. All rights reserved.3 PMO & Value
  4. 4. www.p3m.global ©p3m global. All rights reserved.4 PMO & Value
  5. 5. www.p3m.global ©p3m global. All rights reserved.5 PMO & Value
  6. 6. www.p3m.global ©p3m global. All rights reserved.6 PMO & Value
  7. 7. www.p3m.global ©p3m global. All rights reserved.7 PMO & Value
  8. 8. www.p3m.global ©p3m global. All rights reserved.8 What is Value?
  9. 9. www.p3m.global ©p3m global. All rights reserved.9 What is Value? Function Cost Value = Function = the specific work that a design/item must perform. Cost = the life-cycle cost of the product. Value = the most cost-effective way to reliably accomplish a function that will meet the user's needs, desires, and expectations. Larry Miles
  10. 10. www.p3m.global ©p3m global. All rights reserved.10 Value Engineering
  11. 11. www.p3m.global ©p3m global. All rights reserved.11 Value Engineering
  12. 12. www.p3m.global ©p3m global. All rights reserved.12 Value Engineering
  13. 13. www.p3m.global ©p3m global. All rights reserved.13 Intangible Value
  14. 14. www.p3m.global ©p3m global. All rights reserved.14 Perception
  15. 15. www.p3m.global ©p3m global. All rights reserved.15 Reality
  16. 16. www.p3m.global ©p3m global. All rights reserved.16 Perception vs Reality
  17. 17. www.p3m.global ©p3m global. All rights reserved.17 Value is Subjective
  18. 18. www.p3m.global ©p3m global. All rights reserved.18 Multiple Realities
  19. 19. www.p3m.global ©p3m global. All rights reserved.19 Perceived Realities
  20. 20. www.p3m.global ©p3m global. All rights reserved.20
  21. 21. www.p3m.global ©p3m global. All rights reserved.21
  22. 22. www.p3m.global ©p3m global. All rights reserved.22 The Circle of Value: 360º Perspective PMO Executive Management Functional Managers PM Community Customers & Suppliers Executive Value “How much is the PMO costing us? We need to focus on what brings us value. Must-haves, not nice to haves” Lateral Value “I have no idea what they do. It’s like a black hole over there” Community Value “They keep hassling us for information so we tell them what they want to hear. Looks like an easy gig, though; nice work if you can get it.” Customer Value “Why am I paying for project management? Surely you should deliver anyway? Getting an update on status is like getting blood out of a stone”
  23. 23. Standardised Managed Controlled Improving Support Consolidation Governance Strategic Planning Project Business Unit / Programme Division Enterprise PMO Scope Functions Maturity • Basic data collection • Hero factor • Admin support • Basic data consolidation • Consistent delivery model and terms of reference • Visibility of key risks, issues and outcomes • Financial overview • Sense of visibility • Structured execution • Common understanding • Managed investment portfolio • Alignment with corporate strategy • Input in decision making • Performance monitoring • Reliable comms channels • Economies of scale & scope • Risk portfolio • Consolidated and managed organisational change • Benefit realisation • Accurate forecasting • Dependable governance framework • Change agents • Managed & quantifiable outcomes • Repeatability & trends • Predictable outcomes • Agility and flexibility through fast decision- making • Quality of execution • Focus on outcomes • High success rate • Reliable data • Effective controls • Effective risk & dependency management, resource management and forecasting • One version of the truth
  24. 24. Standardised Managed Controlled Improving PMO Maturity 6 12 18 24 30 36 Months High Risk Zone• Strong bottom up support from P3M community • Good basic training • Good basic methodology • Visionary leadership • Executive support/mandate • At least one Enterprise PMO concept must exist • Strong Divisional PMO presence needed • Appropriate staffing • EPM Tool • PMO function embedded in the organisation at all levels • Strong Enterprise PMO contributing to Enterprise Resource Planning • 360 degree value demonstrated Different CSFs needed for different stages
  25. 25. www.p3m.global ©p3m global. All rights reserved.25 The PMO Charter The PMO Charter Defines business purpose Specifies organisational alignment Highlights functional responsibility Specifies authority Identifies funding
  26. 26. www.p3m.global ©p3m global. All rights reserved.26 PADET
  27. 27. www.p3m.global ©p3m global. All rights reserved.27 Executive Value: Project Assurance 0.00 1.00 2.00 3.00 4.00 5.00 6.00 2012 2013 2014 2015 0.00 1.00 2.00 3.00 4.00 5.00 EUROPE MATURITY LEVEL Overall maturity level Target
  28. 28. www.p3m.global ©p3m global. All rights reserved.28 Lateral Value: Demand & Capacity Planning • The PMO can capture all requests for new projects and log them against strategic initiatives to monitor demand and align with capacity • To demonstrate value the PMO needs to be able to: • Control initiation of new initiatives • Prioritise initiatives (new & existing) • Access information on resource allocation and utilisation
  29. 29. www.p3m.global ©p3m global. All rights reserved.29 Community Value: Career Development
  30. 30. www.p3m.global ©p3m global. All rights reserved.30 Customer Value: The Power of Branding
  31. 31. www.p3m.global ©p3m global. All rights reserved.31
  32. 32. www.p3m.global ©p3m global. All rights reserved.32 New sports park Upgraded rail station Improved rail links Regenerated urban park More frequent trains Athletes village Increased revenue from tourism Fast Shuttle Service to city centre Faster access to park More industry attracted to park More jobs New housing Marketing campaign More day visitors To regenerate the local economy Residents consultations To improve the city’s image More residential tourists More attractions/ facilities Further sports investment Extra capital for further development Increased accommodation in area Increased attraction to tourism Recruit and train guest rooms staff Project Output or Enabler Strategic Objective End Benefit Intermediate Benefit Business Change
  33. 33. www.p3m.global ©p3m global. All rights reserved.33 Business Value Modelling • Identify the relevant stakeholders • Identify their needs and goals • Agree on how we measure/test the achievement of the needs and goals • Select the (few) most important measurements and tests, the “Value Drivers” • Define the relationship between the Value Drivers. • Use the Value Drivers to focus and prioritise our work, from start to finish.
  34. 34. www.p3m.global ©p3m global. All rights reserved.34 Summary • Make sure your remit is clear • Give the (the most important) people what they want! • Measure everything • ‘Good enough’ is never good enough. Constantly strive to improve. • Be practical and realistic. Work with the tools that you’ve got.
  35. 35. www.p3m.global ©p3m global. All rights reserved.35 our clients
  36. 36. This presentation was delivered at an APM event To find out more about upcoming events please visit our website www.apm.org.uk/events

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  • DEFToer3

    Feb. 22, 2017

Ray Mead The Circle of Value PMO and Value APM PMO Specific Interest Group Conference London, 25 Oct 2016

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