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The Accidental Portfolio Manager


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Key Questions and Ideas this presentation addresses:
· How to manage a Portfolio if you don't have a PMO?
· How to say no to a project request?
· Portfolio Governance
· How to setup a portfolio management office?
· How to engage the business or practice groups?
· How to develop a mature portfolio practice?
· What are the steps for setting up a PPM capability?

Published in: Business, Economy & Finance
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The Accidental Portfolio Manager

  1. 1. The Accidental Portfolio Manager Who is managing the forest if you're tending the trees? Gerald J. Leonard Director, Legal and Commercial Programs Edwards Project Solutions
  2. 2. Gerald’s Profile During the last 18 years Gerald has worked as a IT Project Management consultant 4 Years implementing Projects, Programs, IT Portfolios and IT Governance at a AMLAW 20 Law Firm Earned the PMP, MCSE, MCTS, CQIA, COBIT Foundation and ITIL v3 foundation certifications Certifications in Project Management and Business Intelligence from University of California, Berkeley Executive Leadership Certification from Cornell University
  3. 3. Are you tending a tree?
  4. 4. When you should be managing the forest.
  5. 5. What? Why? How To Setting Up a PMO
  6. 6. What is Portfolio Management? Portfolio Management is a capability that enables organizations to analyze, select and manage a collection of project investments that are aligned with your company’s goals and objectives within a data driven decision making framework. Portfolio Management also coordinates the acceptance, approval, postponement, rejection or cancelation of a project which will not realize the proposed benefits or the corporation’s strategic outcomes.
  7. 7. What is IT Governance? Governance is the process of putting policies, procedures and processes in place to guide organizational operational activities and changes. Governance warrants the achievement of an organization’s objectives by strategically aligning daily activities, setting direction, providing guidance on decision making and monitoring performance.
  8. 8. How Does PPM Work Within a Firm?
  9. 9. Audience Poll Go to on your mobile device or laptop. What is your greatest challenge with implementing Portfolio Management?
  10. 10. What? Why? How To Setting up a PMO
  11. 11. Why is Portfolio Management and Governance Important? Organizations that practice Portfolio Management and Governance are 20% more profitable than their competitors. (IT Governance, Peter Weill) 2/3 of organizations that employed PPM reported that 90% of their projects perform to expectations. Higher levels of portfolio alignment increase stakeholder satisfaction.
  12. 12. Why is PPM different than PM?
  13. 13. The Chaos of a Multiple Project Environment
  14. 14. Audience Poll Go to on your mobile device or laptop. What are the pain points that your organization is experiencing that is driving PPM?
  15. 15. What are the pain points? Pain Points Triggers Frustration with failed Initiatives, rising IT costs and low value outcomes Call for IT Infrastructure reduction – fewer data centers Significant incidents related to IT – project failure Change in the organization’s operating model Limitation on the organizations innovation capabilities and business agility New regulatory or compliance requirements IT is seen as a bottleneck Significant technology change or paradigm shift Duplication of business processes or overlapping initiatives New CIO, CFO, CEO or Executive Director Hidden and rogue IT spending; Insufficient IT resources Desire to significantly improve the value to be gained from IT.
  16. 16. What are the benefits of adopting Portfolio Management? Positive impact on project performance and the organization’s overall project portfolio PPM increase the organization’s project management capability effectiveness and efficiency Organizations that implement PPM have better executive engagement
  17. 17. What? Why? How To Setting up a PMO
  18. 18. How To Manage a PPM Without a PMO Which came first, the chicken or the egg? The Portfolio or The PMO
  19. 19. How To Engage Practice Areas Within a Firm Provide answers to the following questions that your executives are concerns about: • What criteria have we applied to determine if project Y is the right investment? • Are we adopting best practices and using standard tools and processes? • What outcomes should I expect in the next 3 months and what deployments will impact my area in the next 3 to 6 months? • What cost improvements can I expect to see after this program has been executed?
  20. 20. How To Say No To Project Request
  21. 21. How To Prepare the Firm for Change Portfolio Management primary goal is to align the firm’s activities with their core objectives and goals. This is true for individual as well. How can we utilize the LUCK principles in our change management efforts in the way that Nelson Mandela changed South Africa? The answer is we need luck! LUCK = Laboring: Under: Correct: Knowledge:
  22. 22. How To Address Project Overload Determine the maximum number of projects your department can handle and obtain leadership buy-in.
  23. 23. What? Why? How To Setting up a PMO
  24. 24. What are the Steps for Setting up a PMO? Plan • Create Portfolio Management Office Charter • Develop the Portfolio Management Framework • EPMO Org, WBS, Budget Planning, Policies and Procedures • Portfolio Steering Committee Action Plan • Portfolio Documentation, Tools, and Reporting Implement • Portfolio Information & Communication Close Out • Portfolio Management Sign off and Closeout • Lessons Learned
  25. 25. People, Process and Technology Legend CNI = Capability Not Implemented CIL = Capability Implemented but Limited CI = Capability Implemented
  26. 26. Obtaining Executive Buy-in Learn to speak the language of your executive team. Relate your request to what your competitors are doing. Show them how your request will solve their key issues.
  27. 27. Tips For Establishing a PPM Practice Start with developing a stream line process, focus on collaboration and then determine which tools will meet your needs. Ensure that your processes and structure are flexible to meet your organizations needs. Create a document repository of best practices that are available to everyone in your organizations. Establish a process owner for each process you develop. Develop a straight forward portfolio recalibration process
  28. 28. Developing a Mature PMO Maturity comes not with age but with the acceptance of responsibility. You are only young once but immaturity can last a lifetime! By Edwin Louis Cole Gartner (April 2012)
  29. 29. Questions & Answers
  30. 30. Resources Books CIO Best Practices IT Governance Optimizing Corporate Portfolio Management Strategic Project Portfolio Management Project Portfolio Management Advanced Project Portfolio Management and the PMO Websites and Blogs
  31. 31. Contact Information Gerald J. Leonard, PMP, MCTS, CQIA, ITIL, COBIT Director, Legal and Commercial Programs Edwards Project Solutions ( Telephone: 800-556-2506 Email: Twitter: @geraldjleonard Blog: