Portfolio management Challenges and Implementation


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Portfolio management Challenges and Implementation

  1. 1. PROJECT PORTFOLIO MANAGEMENT Blog Xellentro Consulting Services LLP | July 2014
  2. 2. Introduction SPPM Workshop
  3. 3. Portfolio – Program – Project Management Portfolio Program Project Doing the Right Thing Realizing the Benefits Doing things Right  Strategic Alignment  Governance  Risk  Resource  Verification & Validation  Prioritization  Resource  Scope  Cost  Time  Quality
  4. 4. Challenges of Portfolio Management Strategy Governance Management Tools • Alignment to objective not there • Many projects and programs meeting same objective • Many “Must Have” Projects and Programs • Prioritization not done properly • No process for poor performing projects to be killed • Business case unrealistic • BAU projects are managed separately • Interdependence not assessed properly • Lack of experience to manage • PM skills not valued as critical • Change absorption Capability is less • Inconsistent data and no “single version of truth” • Lack of effective reporting and analysis • Reporting seen as a burden and ineffective
  5. 5. Portfolio Management Process Model Proper understanding and Implementation of Portfolio Management Process helps to remove the challenges mentioned. MoP defines the following as the model of Portfolio Management
  6. 6. Portfolio Management Process MoP defines a set of Portfolio Management Principles and Portfolio Definition and Delivery Cycles as part of the Portfolio Management Process Principles Senior Management Commitment Governance Alignment Strategy Alignment Portfolio Office Energized Change Culture Definition Cycle Understand Categorize Prioritize Balance Plan Delivery Cycle Management Control Benefits Management Financial Management Risk Management Stakeholder Engagement Organization Governance Resource Management
  7. 7. Portfolio Management Implementation To be able to get the benefit, there is a need to have an Enterprise wide Project Portfolio Management Process to be implemented giving the holistic advantage. The data and information needs to travel at all levels. Alignment with Business Objectives Visibility & Control Collaboration Enterprise Project Management Portfolio Management Execution Management PMO, Program and Project Managers Project Team Members Investment Decision Makers and Portfolio Managers
  8. 8. Portfolio Management Consulting We at Xellentro help organizations to get this advantage by providing our experts to:  Assess the current state  Do Gap Analysis of the process  Define / Modify the process to remove the gaps  Hand-hold the Program and Project Managers to implement the process  Setup and handhold Program Managers/Portfolio Management Office  Help creating the competency with training and hand-holding  Transition to the organization  Audit and/or Maturity Assessment at regular intervals
  9. 9. Xellentro Consulting Services LLP C 402, Ajmera Infinity, Electronics City Phase 1 Bengaluru, 560100