SUPERSEDED by - https://www.slideshare.net/djdunning/core-portfolio-programme-and-project-management-data-model-and-business-integrated-p3m-governance-portfolio-207200950 The Core P3M Data Club was formed to create a data standard for portfolio, programme and project management. This enables us to more effectively deliver business integrated governance for Business as Usual and Change. This means our journey from Main Board objectives, targets and challenges can be delivered through portfolios, programmes and projects in the context of finance, management teams, support and assurance more easily and effectively. This will deliver more strategy outcomes, greater business agility, lower management overhead and efficiency benefits. On from Main Board, this document outlines the assumptions we make around how Portfolios operate in translating Objectives for change into programmes and projects. We offer a business agenda for Portfolio Direction and Progress Groups that has a Change focus, and present management information definitions that we believe will support the business agenda. From this, we have derived a data model that would support the MI for the business agenda and have integrated this with the Core P3M Data Model. Link to higher resolution copy here: https://1drv.ms/w/s!AscRj7Bfp6vQgokByksCd_dKL1j7TQ?e=ua4rfD Find out more and collaborate here: https://www.linkedin.com/groups/13651399/

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Portfolio
Thisdocumentintroduces the PortfolioManagementtopicsinthe Model andexplainsthe
categoriesof portfoliowe have consideredinourexample scenario, andthisishow theyrelate
to managementteamsandmainboard.
Portfolios are writtenaboutextensively bythe APMand the PMI, are the subjectof an Axelos
Publication“Managementof Portfolios®”andfeature centrally inthe PraxisFramework. This
guidance buildsonthose foundations,offeringassumptions andgivingspecificsuggestionsfor
Portfoliogovernance, supportingMIneedsandhence dataimplications basedonanexample
scenario.
Assumptions
A portfolioisacollection of assetsinteracting(ruleset) inactivitiesthatare boundinsome way
for governance (suchas- theyare delivered bythe same groupof assetsand or delivertothe same consumers andorare conductedinthe same
governance spansuchas a financial year/biennium/trienniumetc.)
A portfoliorequiresanaccountable leaderwhomaybe an individual ora committee exercisingauthoritythroughitschair. Accountability coverssetting
goalsand allocatingresources. Todothat the portfoliolikely followsvaluesandprinciples thatitinterpretsanddelegates aspolicy.Goalsandvaluesare
primarily achieved/ followedbydecisionmakingthatcombines aview of the future, the presentandthe pastwithopinion, preference, values, meaning
and pressures.
A portfoliomaybe a subsetof a higherentity. The governance atportfoliolevel consistsof balancingresponse topressures inordertoreturnthe maximum
benefittostakeholders. PortfolioFunctionsare thusdeterminingwhostakeholders are andtheirinfluence andinterests, establishingagreedupon
objectives, agreeduponpathstoobjectives, andthe statusof actionson those pathswithprojectionof where continuedactionwill likelydeliverthe
portfolioto.
These principlesof participation, procedures, datagathering, analysis, anddecisionmakingrepeatwithinthe portfolioforoperational (calendardriven)
activitiesandchange/ eventdrivenatthe scale of program (change fromidea, throughselection tostabilisingimpactsonoperations) andproject
(developmentof solutiontoneed). The Core P3MData Clubhassought toplace the rightdata intothe right analysisprocessestosupporttimely (and
hopefully excellentandimproving)decisionmaking.
From APMDirecting
Change

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Portfoliopolicy isinterpretedbyprogramstocreate processes andprocedures. Procedures are enactedatprojectandprogram level. Proceduresdefine the
activitiesthatare undertaken toachieve the hierarchyof outputs, outcomes, goals, objectives, visionandmission.
In the example scenario, we have classifiedsome distinctportfoliotypes- asoutlinedbelow. Organisationsmayhave one ormore of these portfoliotypes.
However, all include:
 Business casesandstrategicobjectives impliedinBusiness/OperatingPlans(strategicorfinancial)
 DesiredoutcomesarisingfromTargetsgiventoBusinessasUsual and ObjectivesgiventoChange Portfolios
 Remitanddefinition of relatedgovernance responsibility
 Prioritywithinthe business,Finance andresources
Examplesof Portfoliosanorganisationmayhave:
Change
 Strategy Advancement/ Transformation Portfolio- corporate level. Suchportfolios are characterisedby
o significantstrategicbusiness case
o corporate risk/ highpriority
o top downbudgetsandhigh-levelsponsorship
o delivery primarily throughclearprojectsandprogrammes,
o benefitrealisationandstrategyattainmentgoals
 Innovation – insteadof leading‘topdown’ some organisations open‘Challenges’ thatmaysolicitresponse ‘Bottomup’ andmaybe a greatsource
of advancementopportunities thathave notbeendevelopedfromstrategy.
o Corporate Innovation– These maystart witha top downChallenge fromMainBoard, go cross company andhave dedicatedfundingtobe
creative with.
o Local Innovation. These maybe local to a ManagementTeamdomainandbe fundedoutof local operational budgetsusinglocal resources.
An organisationmaywantvisibility againstlocal initiativesconsumingfinanceandresources thatare non-strategicitemsforopportunistic
overall improvement.Visibilityalsoavoidsduplicationacrossthe organisationandcanstop initiatives maybe leftasobsolete byanew
corporate initiativeordirectionchange oralternatively accelerate those thatare beneficial.

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Businessas Usual
 Operational Work - is certainly notclassified as‘Change’, butdistinctAccountability Nodescan/shouldbe identifiedinaportfolioandmanaged
alongside initiativesthatare classified as‘Change’ whenbothBAUand change initiatives have dependencies betweenthem, draw onthe same
resource poolsand/ or time boxedfinance pots.
In additiontoservice workstreamsorproduct/ assetdevelopment, while notdirectly deliveringchangesdirectly toattainstrategy, local change /
operational improvementiskeytostrategy attainmentif itsupportsBAUTargetattainment. Forexample - we can’tachieve strategyif salesdon’t
materialise tofundit.
Furthermore, the BAUManagementTeammay use “projectsandprogrammes”tactically todelivertime boxed/definedoperational work, using
workplanningtechniques andsystemsforportfolioitemsthatare not classifiedasmajorprojects.
 CustomerPortfolio- is a special case of BAU because of the needto capture costs accurately, togenerate revenuedirectly (e.g.revenue projects-
not call centre type services) andtoaffectcorporate metricslike customersatisfaction. CustomerPortfolios typically have a‘Business Manager’
accountable forsales, revenueandprofitability - anddependingonwhethertheyhave responsibility foradelivery team–qualityandcustomer
satisfaction. BusinessManagerswillhave abusiness planandtargetsandmanage delivery via‘service management’ortactical use of projects/
programmes, and‘contract management.
 Asset/ Product Portfolio.Asset/ ProductManagers maybe accountable forproductperformance, whichmaybe supportedbyadedicatedteam,
or a flexible teamdrawnfromwithinthe business matrix. The Asset/Productwill have abusiness planandtargetstojustify itsuse of finance /
resourcesandmay be deliveredviaprojectsorcontinuous releases.
While inthe past,separate processes/governance /systemsforcustomerdelivery, engineeringmanagement, transformationplanningmayhave provided
useful advancesincapability, thesemaynow be seenas‘islands of automation’ whichpreventthe “bigpicture”beingachieved. Hencemore organisations
understandthata BAU workstreamisjustan Accountability Nodethe same asa projectexceptthatit hasa differentplanshape, leadershipand
accountability. Tomanage bothworktypeseffectively, bothmustbe broughttogethertoenable overallprioritisation /dependency /resource /financial
managementsothat(forexample) the ‘change lead’ cansee workcommitmentsanddependencies forpeopleintheirprojectandthe ‘line manager’ can
see whenexternal commitmentsare requiredintheirteams.
WhichPortfolios anorganisationwantstomanage togetherisachoice. Some maywant to focusonlyon ‘Change’, otherson‘Customer’and‘Asset/
Product’,perhapssome will wanttooversee all.Withorganisations doingmore workin‘projectlike’butnotprojectways, the term“ProjectPortfolio

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Management”isbecomingalessthan all-encompassingterm,andmore are lookingto‘ModernWork Management’ and‘Agile’ approaches asthe
definitions of projectsandprogrammesblurorbecome un-necessary .Whatremainsisthe needtomanage priorities, dependencies, resources, risks,
benefitsandfinancesirrespective of anentitybeinga‘project’, and‘product’oran ‘initiative’.If organisations define thesePortfolios incommonways,
thenthe itemscan be visualised together, and:
- Value maximised–asspendingisfocusedonbestoptionsandduplication isreduced
- Problems solvedwithoutcausingchaos– implications canbe managed
- “Business Agility”enabled–asit becomesclearwhatchoicesthere are if rebalance isneeded.
Key PortfolioRoles
Bestpractice (inthiscase derivedfromManagementof Portfolios®), suggests
that we shouldsplitthe governance of portfoliosinto2distinctroles–
PortfolioDirectionandPortfolioProgressGroups(PDGandPPG).These two
roles, however, maybe carriedoutby one combinedPortfolioGroupinsome
organisations. Itdepends onthe situation.
Notonly may PDG and PPG overlap, buttheymaywell alsooverlapwithMain
Board functionstoo.Clearly, rolesandresponsibilities needtobe crystal clear
so that accountability canbe properly allocated.
SubPortfolios maybe ledbya (Business Unit) ManagementTeamleaderwho
takeson a PDG role for initiatives containedwithintheirdomain–the
ManagementTeamLeaderiseffectively the Sub-PortfolioSponsor.
ManagementTeamsleadthe Operation, butalsomake ultimate decisions
aboutresourcingandbenefitrealisationwithintheirdomains. The
ManagementTeamcan alsotake onthe PPGrole for theirsub-Portfolio, but
thismay be delegatedtoasub-committee/directreportof the Management
Team.
Where a business unitisnotthe ‘Lead’business unitforasub-Portfolio, a
ManagementTeamLeadermightstill supportaPPG ledina sibling

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ManagementTeamand be responsibleforsome resourcingandbenefitdelivery.
ManagementTeamsmayof course use differentlanguage, andrecoil atP3Mbasedterminology. Forexample, the SalesDirectormayineffectrunthe
PortfolioDirectionGroupfortheirCustomerPortfolio–but insteadof “Programmes”there maybe “Business Streams”witha“Business Manager”and
insteadof “projects”, “Accounts”witha “Relationship Manager”etc. Nomatter – ensuringclearaccountabilities androlesnomatterthe title iscrucial.
A keyaspectto PDG, PPG, ManagementTeamsand Finance isthe needtoshare data. For controlsdayto day, we needlive data, butforstrategyand
performance review /decisionmaking–we needreliable, integrateddata–but to have thislive isperhapsun-necessary andexpensive. Itisthereforevital
to orchestrate governance operationanduse cadence toharmonise. A discussion of thiscanbe foundinthe FrameworkOverview
Linksto a model explainingPDG, PPGrelationtoManagementTeamscan be provideduponrequest.

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Portfolio Direction Group
Assumptions
The followingmaterial isderivedfromManagementof Portfolios®,andoffers asetof assumptionsunderlyingthe businessof the PortfolioDirectionGroup
(PDG) for thismodel andprovidesguidance:
 PDG Consistsof the Main Board members andManagementTeamheads whoare collectively accountableforensuringthatthe Portfolio
deliversthe changes,outcomesandbenefitsdesiredwithinthe organisation’s strategicobjectives.
 Makes proactive decisionsandprovidesoversight,directionandleadershipthatenergisesthe deliveryteamsandthe organisationtoachieve
the objectivesof the strategy.
 Meetingsmaybe attendedbyadditional memberswhere required,includingthe PortfolioManagement,SeniorBusinessChange or Programme
ManagementRoles.
 Accountable tothe Main Board (orits Change Sub-Group) forrealisationof strategicoutcomesfromthe portfolio
The PDG hasthe followingassumedresponsibilities:
 Constantlymonitorthe environmentandmarketforimpactson the strategicdirectionof the portfolio
 Ensuringthat the Portfolioremainsoncourse (ordirectionischanged) to deliverthe desiredstrategicbenefitsandoutcomes
 Overall ownership,oversightanddirectionof the Portfolio.Setthe strategicvisionforthe portfolio
 Settingcriteriaforportfolioinclusion
 Ultimate decisionbodyoncontentof the portfolio –inclusion,removal,priorityof initiativesinthe portfolioandthe strategicbalance
 Ensure that BusinessasUsual and the Change Portfolioare alignedeffectivelytodeliverthe StrategicObjectives.
 Ensure that any conflictsbetweenthe PortfoliodeliveryandBusinessasUsual that cannot be resolvedbythe PPGare addressed.
 Delegatestranslationof strategicobjectivesintospecificprioritised,balancedandplannedportfolioitemsandoversightof deliverytothe PPG
 Reviews the statusof the PortfolioregularlyviaManagementDashboards(focusingonprediction/forecastof achievementof strategic
outcomesandbenefitswithinthe mediumtolongtermenvironment/market
 ReviewrecommendationsandissuesfromPortfolioProgressGroupandmake decisionsaccordingly.
 Manage expectationsof strategicstakeholders

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Agenda & Dashboard – PDG
The processof arrivingat actionsanddecisionsforthe Portfolio
Directionis referredtohere asan “Agenda”,as we believe thatmuch
of the decisionmakingneedstobe concludedata meeting(oraseries
of cyclical meetings) where decisionsare captured,andactions
allocated.
The keyinformationthatthe PDG needstointerrogate toprovide
effectiveoversightissummarisedinthe Dashboardbelow:

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Progressand Status. Thissectionlooksbackwardsandpicksup
overall portfolioprogress/performance / issuesoverall outcomes/
accomplishment,escalationsandexceptions,reviewof cost/
resource performance
Enablers – thissectioncoversa re-statementorreviewof the
overall strategicgoalsandimperativesstatedasobjectives/
challenges(havethere beenanychangesinunderlyingdrivers) and
theirstatus.Thissectionhighlightsnewideas,inputfromthe
marketinterms of satisfaction/threats/ opportunities/trendsand
the trendin riskappetite,customerfeedback,andHealth/Safety
metrics.
Prediction– a lookforwardandpredictionof outcomesand
confidence trendinthe achievementof those outcomes –the PDG
meetingwouldfocusheavilyonoutcomes(butwouldtake input
fromthe PPGon forecastoutputs). Thissectionof the dashboard
and meetingincludesreviewof forecaststrategicoutcomes,overall
costs,resource issues,reviewof risksandconfirmpriorities/
balance of finance / resourcescommitment.
Decisionswouldthenbe taken tocommence,slow/speed up/change / stopexistingportfolioitems,andreviewresources/fundingposition.
A keyaspectto the PDG reviewisBenefits /Outcome realisation. While itmaybe withinthe role of aProgramme Boardto manage benefitrealisationata
programme level,the PDGtakesaccountabilityforoverall businesschange andbenefitrealisationachievementintheirportfolio/sub-portfolio. However,
some Portfoliosgoacrossthe business,whichmeanthatManagementTeamLeaderswhoare notPPG leaderswilldeliver(atleastpartof) some change
projectsandtheirrelatedbenefits.Benefitsare alsotherefore includedwithinourManagementTeamReviewexample,especiallybearinginminda
Managementteammayalso become accountable forongoingbenefitsonce aprogramme anda its relatedportfoliohasdisbanded.

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MI Implication
To populate the dashboardand carry out the Agenda,we have impliedthe followingManagementInformationneeds:
Progressand Status

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Enablers

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Prediction– Mid / Long Term

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Resources
Thissectioncontainslinkstodetailedpresentation/backup material tothe narrative above – available uponrequest:
 Developmentof MeetingAgendas
 Full detailsof the mappingof PortfolioAgendaImplications
 MI ExamplesGathered

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Portfolio Progress Group
Assumptions
The followingmaterial isderivedfromManagementof Portfolios®,andoffersasetof assumptionsunderlyingthe businessof the PortfolioProgressGroup
(PPG) forthismodel andprovidesguidance:
 Accountable tothe PDG
 Oversee understandandcategorise portfolioitemsthroughprioritisation,balance andplanning,tothe pointof handovertotheirprogramme /
projectboards
 Monitoringportfolioprogress/resolvingissuesforthe PortfolioStrategyanddeliveryplan(outputs,benefitsandstrategyoutcomes)
 Deliverycycle process(change authority) andoperationchecking - ensure initiativescomplywithdeliverystandards
 Approve communicationsonportfolioprogress andsuccesses
The PPG has the followingassumedresponsibilities:
 Orchestrate the identificationanddefinitionof programmes,startupand initiationof projectstothe pointof handovertotheirprogramme /
projectboards
 Ensuresthat PDG strategic/ prioritiesare reflectedin the portfolio deliveryplan
 Monitorsportfolio outputdeliveryprogress/status/resolvingdeliveryissues:
• Programme / projectprogress,exceptionsandescalations
• Deliverablesachievement
• DependenciesandInter-Dependenciesalignmentandinterlocksagreedandon-track
• Spendandaction onoverspend /underspend(reallocate) andtimescales
• Reviewportfolioissues,escalate asappropriate toPDG
• Overviewof risks/dependencies
• Resourcesandallocationoversight
• Reforecastof benefitsandalignmenttostrategicobjectives
• Approvesminorchangestoportfolioandconstituentprogrammesandprojects
• RecommendsmajorchangestoportfoliotoPDGincludingtermination andof new projects
• Makes Terminationrecommendationsof programmestoPDG
 Ensuresthat deliveryplansare agreedwithBAUto cause minimumdisruption
 Approve communicationsonportfoliostatusandprogress

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 Periodicdeliveryeffectivenessreviewof bothprocessandindividual sponsorandprojectmanagerperformance –actionwhere appropriate
Agenda & Dashboard - PPG
The processof arrivingat actionsanddecisionsforthe Portfolio Progressis referredto
here as an “Agenda”,aswe believe thatmuchof the decisionsneedstobe concluded
at a meeting(oraseries) where decisionsare captured,andactionsallocated.

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The keyinformation thatthe PPGneedsto interrogate toprovide effectiveoversightissummarisedinthe AgendaDashboardbelow:
Progressand Status. Thissectionlooksbackwardsand focuseson
historical trendandlastperioddelivery performance /issues.
Overall accomplishment,escalationsandexceptions,reviewof cost
/ resource performance,reviewof additional/frontdoorproposals
for potential inclusioninthe portfolio,reviewof assurance
escalations.
Enablers – thissectioncoversreviewof Objectives(have therebeen
any changesinunderlyingdrivers),keypeople performancereview
(e.g.Sponsors,Programme Managereffectiveness),Efficiencyand
Effectivenesstrendreview,lessonslearnedrealisation,culture and
ethicsimplicationsreview,satisfactionreviews (staff,customers)
and reviewof currentportfoliobalance.
Prediction– lookingforwardsandreview riskandconfidence –in
delivery/outputs/outcomes,cost/resourcesestimatestoconfirm
priorities/balance of finance /resourcescommitmentandenable
portfolioitemstocommence,take escalations,wrapupdecisions/
actionsand communications.

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MI Implication
To populate the Dashboardand carry outthe Agenda,we have impliedthe followingManagementInformationneeds:
Progressand Status

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Enablers

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Prediction– Mid / Long Term

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Resources
Thissectioncontainslinkstodetailedpresentation/backup material tothe narrative above – whichcan be provideduponrequest:
 Developmentof MeetingAgendas
 Full detailsof the mapping of PortfolioAgendaImplications
 MI ExamplesGathered