Matt Williams and Merv Wyeth
Why PMOs need to be strategic - and what you can do about it
PMO and Value
APM PMO Specific Interest Group Conference
London, 25 Oct 2016
Portfolio management in the government sector... the ONS journey
presented by Nicky Bloomer
Office for National Statistics
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio SIG conference
Thursday 12th May 2016
Designing the portfolio
presented by Dan Jones
Nationwide Building Society
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio SIG conference
Thursday 12th May 2016
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio Management SIG conference Introduction
Thursday 12th May 2016
Matt Williams and Merv Wyeth
Why PMOs need to be strategic - and what you can do about it
PMO and Value
APM PMO Specific Interest Group Conference
London, 25 Oct 2016
Portfolio management in the government sector... the ONS journey
presented by Nicky Bloomer
Office for National Statistics
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio SIG conference
Thursday 12th May 2016
Designing the portfolio
presented by Dan Jones
Nationwide Building Society
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio SIG conference
Thursday 12th May 2016
Shaping your portfolio to realise Organisational Strategy (design and prioritisation through to implementation and success)
APM Portfolio Management SIG conference Introduction
Thursday 12th May 2016
Mapping the future: the art and science of programme planning in a waterfall or agile world
Thursday 16 July 2020
Presented by
Adam Skinner and Andy Willis
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/mapping-the-future-the-art-and-science-of-programme-planning-in-a-waterfall-or-agile-world-webinar/
A business case is an argument, usually documented, that is intended to convince a decision maker to approve some kind of action. The document itself is sometimes referred to as a business case.
APM Portfolio Management SIG survey 2020 results
- including comparison to the 2015 survey
The SIG microsite: https://www.apm.org.uk/community/portfolio-management-sig/
International or large organizations need to have a systematic approach in selecting and forming their portfolios aligned with their organizational goals.
Mapping the future: the art and science of programme planning in a waterfall or agile world
Thursday 16 July 2020
Presented by
Adam Skinner and Andy Willis
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/mapping-the-future-the-art-and-science-of-programme-planning-in-a-waterfall-or-agile-world-webinar/
A business case is an argument, usually documented, that is intended to convince a decision maker to approve some kind of action. The document itself is sometimes referred to as a business case.
APM Portfolio Management SIG survey 2020 results
- including comparison to the 2015 survey
The SIG microsite: https://www.apm.org.uk/community/portfolio-management-sig/
International or large organizations need to have a systematic approach in selecting and forming their portfolios aligned with their organizational goals.
Determining the Mathematical ROI of a Project Management Office (PMO) Impleme...Ricardo Viana Vargas
The objective of this paper is to present, discuss and apply a mathematical model based on the use of Monte Carlo simulation in conjunction with researches on project success/failure rates of projects to develop a 10 step model to calculate the mathematical return on investment (ROI) for the Project Office implementation.
The types and particularities of current investments and the differences between capital projects and operational improvement projects are presented. From the recognition of these differences, practices are proposed for the efficient management of the portfolio of current projects in companies.
Feasibility Study using the PMBOK® MethodologyIJAEMSJORNAL
In 1969 Martin Barnes opened the debate a lot about what is the best way to describe the fundamental limitations that underpin the success of the project. This paper develops a project integration model "Beyoutiful Esthetics" through the PMBOK® methodology. The objective in this document is to present the case of this model and demonstrate the way to evaluate the project in the delivery of successful results as part of the development of the PMBOK® model, in the area of beauty culture.
AHP and INNOVATION STRATEGY as PROJECT PORTFOLIO MANAGEMENTSajjad Khaksari
The following technical report with some improvement describes the "chapter 9" of the project called: “Strategic Management of Technological Innovation Concerning The Battery Electric Vehicles (BEV)”. The "Chapter 9" agglutinates all chapters of "case 4" in which the BEV project introduces a real company case study (Workhorse Group Inc.). Chapter 9 takes performances of Analytic Hierarchy Process (AHP) method which has developed by professor Thomas L. Saaty in the 1970s. Also, the following report proposes to contribute an optimizing decision-making framework for some authentic Multiple-Criteria Decision-Making (MCDM) circumstances. Furthermore, the "supplementary resources" are available in the attachment of the Battery Electric Vehicles project. Remark that the “.sdmod” stands for the formats of “SuperDecisions Software”. The ".sdmod" formats adopted in “part c” of the project concerning the definition of AHP Tree and the related arguments regarding the Innovation Strategy as Project Portfolio Management (PPM). Also, the “PPM-F.xls” file format includes the “Solver” and the results of “part a” and "part b".
ContentsPart 1 Build a Methodology4Abstract4IntroductioAlleneMcclendon878
Contents
Part 1: Build a Methodology 4
Abstract 4
Introduction 4
Project Scope Statement 5
Methodology 5
Deliverables 7
Work Breakdown Structure (WBS) 8
Project Management Office Review Strategy 9
Life Cycle Cost (LCC) 10
Prioritization Technique 11
Risks and mitigation strategies. 13
Delay in Project 13
Budget Shortages 13
Low-quality product 14
Incomplete project design and delivery definition 14
Lack of resources 14
Organizational Structure 15
Part 2: Project Description 16
Agile Methodology 16
Algorithm for SCC 16
Part 2A: Project Requirements 19
Agile Scope Control 19
Agile Task Control 19
References 22
Part 1: Build a Methodology
Abstract
Susan Consulting Company (SCC) has been spending more than the industry standards on project management costs while projects are overrunning the budget and timeline. The objectives of this paper to provide a solution for SCC to improve their project management process with the ability to track issues, risks, and changes. Also, to provide a solution where SCC be able to view project activities and life cycle project costs. From the research it has been found that Agile methodology would make the project management process cost effective. Using this method, this research developed an algorithm to operate six applications. This research found that SCC needs to make sure six core activities in project deliverable lists which would define the project outcomes. Also, a new project structure model has been proposed which would provide more stringent solution for budget monitoring. MOSCOW prioritization technique has been suggested for process optimization.Introduction
Susans Consulting Company (SCC) has been in business for more than five years and lately has been experiencing turnovers in its project management. SCC decided to hire us, a team of experts, to help them revitalize their project management system, deliver their projects on time, and use their budget correctly. An investigation made by the SCC's senior leadership determined that the amount of project management documentation necessary for a project. The leadership also found that the company was spending 30-40% of its budget on projects, which is over the industry standards.
SCC Company has faced issues with late projects and over budget. To help solve the company's problem, SCC has contracted us to revitalize their full project management. Our team will help the company with its project timeline and deliverables. Project Scope Statement
This project Management paper will describe the process that SCC must implement in order to reorganize their projects. The present paper will show each stage necessary within the projects and build a process that will help cut the costs and have projects delivered on time.
Life Cycle
As we aim to create a system where SCC can organize their projects, our team will use the standard life cycle composed of five stages, which are (1) Project Initiation (2) Project Planning (3) Project Execution (4) ...
BINOMIAL APPROACH TO ASSESSING REAL OPTIONS IN MANAGING AN INVESTMENT PROJECTIAEME Publication
A key factor for the success of the project management is the availability of a clear
pre-defined plan, minimizing risks and deviations from the plan, efficient management
of changes (as opposed to process, functional management, service level
management). Using the binomial method to estimate the value of real options, they
proceed from the assumption that the number of links is discrete and known in
advance. The logic of this approach requires that their number correspond to the
frequency of making the most significant decisions for the project. The nodes of the
lattice should be those moments in time in which strategic decisions are made on
reducing, developing, switching business, etc. In general, the use of the real options
method extends the tools to justify decisions in managing an investment projects
APM webinar hosted by the Scotland Network on 14 May 2024.
Speakers: Chris Drysdale and Peter Huggett
An interactive session discussing how Project Managers can identify mental health symptoms, provide tools to help themselves and others, plus also increase the capabilities of the Project Management function. This webinar was held on 14 May 2024.
The covid-19 pandemic led to concerns about a worsening of mental health & wellbeing across the world and increased awareness in both society and the workplace. This webinar looks to advise the benefits of having a Mental Health First Aid function in the workplace whilst also providing tools and techniques that can be readily used and applied to yourself and colleagues. Additionally, there are wider benefits to Project Management which will be proposed and discussed.
Making communications land - Are they received and understood as intended? webinar
Thursday 2 May 2024
A joint webinar created by the APM Enabling Change and APM People Interest Networks, this is the third of our three part series on Making Communications Land.
presented by
Ian Cribbes, Director, IMC&T Ltd
@cribbesheet
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/making-communications-land-are-they-received-and-understood-as-intended-webinar/
Content description:
How do we ensure that what we have communicated was received and understood as we intended and how do we course correct if it has not.
APM Welcome
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Professor Adam Boddison OBE, Chief Executive Officer, APM
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
APM welcome from CEO
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Projecting for the Future: Harmonising Energy and Environment
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Graham Winch, Professor of Project Management, Alliance Manchester Business School
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
APM launched Projecting the Future in June 2019 to debate the challenges and opportunities for the profession, building on the 2017 Future of Project Management exercise conducted by Arup and University College London. This presentation provides the initial results from this third phase of reflection on the future of our profession.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
New to Nuclear - Transition into nuclear from other sectors
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Elaine Falconer, Head of Profession for Project Management, Jacobs
and
Karen Williams, Project Manager, Jacobs
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
In this session, Jacobs shared insights and learning from its ‘New to Nuclear’ programme designed to support mid-career and lateral entrants whose existing skills and expertise can be utilised in the nuclear sector.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Tell us what to do, not how to do it
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Alan Livingstone, Project Delivery Lead, UK&I Water Sector, Stantec
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
How the Stantec Project Management Framework provides our PMs with the flexibility to deliver projects of varying complexity, across a variety of different sectors, within a Global Organisation.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
The Future is Fractional
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Karen Frith, Founder & Managing Partner, Greenlight Partners
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
Discovering the transformational impact of working with fractional experts. Learning how businesses and professionals are embracing fractional roles and how they’re redefining work structures for optimal agility and efficiency.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Lessons learned across projects
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Barney Harle, Head of Major Projects, Manchester City Council
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
What are my key takeaways from working on a vast array of projects including the recent 30+ low carbon and decarbonisation schemes at Manchester City Council?
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Agile Adaptability: Navigating Project Management in a Dynamic World
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Nathan Lumb, Partners Project Manager, GEIC
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
This presentation delved into the vital role adaptability plays in modern project management.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Inclusive Practices in Project Management: Leveraging Digital Frameworks for Diverse Minds
Tuesday 30 April 2024
APM North West Network Conference, Synergies Across Sectors
Presented by:
Caroline Keep, PhD researcher Digitization in Education Organisation, University of Central Lancaster
Conference overview:
https://www.apm.org.uk/community/apm-north-west-branch-conference/
Content description:
This talk aimed to provide actionable insights and strategies for embedding inclusivity into the fabric of project management, thereby unlocking the new dimensions of productivity and innovation in the digital sphere.
The main conference objective was to promote the Project Management profession with interaction between project practitioners, APM Corporate members, current project management students, academia and all who have an interest in projects.
Leadership - the project professionals secret weapon
Wednesday 24 April 2024
APM East of England Network
Presented by:
Chris MacLeod
Keep up to date with the APM East of England Network:
https://www.apm.org.uk/community/east-of-england-network/
Content description:
“I’m a Project Manager”.
That’s often what we tell family, friends and peers when asked what we do. But is it really a fair description? It may well be our role title, but it probably doesn’t convey a lot of what we actually do.
This presentation and discussion is about going beyond the frameworks, processes and stereotypes associated with project management and exploring the leadership roles we all in fact perform.
“I provide leadership focused on delivering projects and change for organisations”
APM Project Management Awards - Hints and tips for a winning award entry webinar
Thursday 18 April 2024
The APM Awards overview and the resources of this webinar:
https://www.apm.org.uk/apm-awards/
Content description:
Ahead of the APM Awards 2024, find out from our expert panel what elements make a winning APM Award entry.
Learn how to choose the category best suited to you or your company.
Answers provided to those all-important questions:
-What importance does the criteria hold?
-What are the judging panel looking for?
-How should I structure my entry?
-What additional evidence is acceptable?
-What will give my entry an edge?
X hashtag: #APMawards
The Vyrnwy Aqueduct Modernisation Programme webinar
Wednesday 17 April 2024
APM North West Network
Presented by:
Katie Rowlands
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/the-vyrnwy-aqueduct-modernisation-programme-webinar/
Content description:
Spotlight on the Vyrnwy Aqueduct Modernisation Programme and the challenges facing a large project within Cheshire.
The Vyrnwy Aqueduct Modernisation Programme is one of United Utilities largest projects focused on the modernisation of three 42” aqueducts that carry clean drinking water across the North West.
This webinar covered the Vyrnwy project and an insight into the project challenges that face a live project within the Cheshire area.
APM event hosted by the London Network on 10 April 2024.
Speaker: Nick Fewings, MD of Ngagementworks
In March 2022, Nick Fewings, Ngagementworks, MD of Ngagementworks, published Team Lead Succeed, based on his 30+years of both leading operational and project teams, and subsequently facilitating team development around the world.
It has become a best seller, with a 96% 5-star review rating, and has been read on 5 of the 7 continents.
In this interactive session, Nick will share learning from Team Lead Succeed that can be applied immediately and make a positive difference to your teamwork.
Nick will share the importance of knowing both WHO is in your team and also HOW effective your teamwork is.
Only 10% of teams achieve high-performance, with 50% being average and 40% dysfunctional.
In this session, delivered by award-winning conference speaker Nick Fewings, and author of best-seller Team Lead Succeed, Nick will share his 30+ years of leading teams and facilitating team development.
Nick has profiled 1,000 of individuals and worked with 100s of teams.
Those attending will benefit from understanding;
Why many projects fail to achieve their goals.
Not relying on just measuring KPIs.
The importance of knowing WHO is in your team, both from a behavioural and technical skills aspect.
The 16 areas of high-performance teamwork, and their importance.
https://www.apm.org.uk/news/team-lead-succeed-helping-you-and-your-team-achieve-high-performance-teamwork-2/
Currently Knowledge Transfer Subject Matter Expert (Commercial) in the UKDT PMO on the Peru Reconstruction Plan. Stuart has more than 25 years’ track record of commercial and contract management experience working across both public and private sector projects, as well as more than 20 years’ experience in the development and delivery of professional training. As well as working for Gleeds in the UK and Peru, Stuart has also worked in China for Gleeds and has supported people development in Gleeds’ offices in Egypt and Poland. Stuart has been well placed to support the adoption of the NEC and UK Cost Management best practice in Peru – he was Chair of the RICS New Rules of Measurement (NRM) initiative and was heavily involved in the creation of the RICS Black Book Guidance (best practice in cost management).
APM event hosted by the Midlands Network on 11 April 2024.
Speaker: Carole Osterweil
Data is power. AI changes everything.
If the claims about both are true, how can we ensure we use data and AI well? And what does it mean for the very things which make us human - our feelings?
In this workshop Carole will draw on material from her ground-breaking book, Neuroscience for Project Success: why people behave as they do to answer both questions.
“We like to think our decision making is completely rational. However, once there's an element of uncertainty, conscious assessments are only part of the story. Two other inputs, both subconscious and driven by our innate need to survive, have a big impact.
One, automatic reactions driven by cognitive biases, gets plenty of airtime.
The other input, our raw visceral emotions might be scary to talk about and less understood - but that’s not a reason to pretend they don’t exist!”
This interactive workshop will draw on material from Carole’s book, Neuroscience for Project Success: why people behave as they do, published by APM in 2022.
You’ll come away with:
a clear understanding of how the human brain works.
a framework that:
explains ‘why people behave as they do’.
makes it easier to talk about feelings in a matter-of-fact way (so that they become part of your conscious data set)
new insights into yourself and your projects in a world that’s often characterised by stress and disorder.
Act on these insights and you’ll see the impact - on your teams and stakeholders, your decisions about how to use data and AI, and ultimately your project outcomes.
AI in the project profession: examples of current use and roadmaps to adoption webinar
Wednesday 27 March 2024
Association for Project Management
Speaker panel:
Andy Murray, James White, James Garner, Karina Singh and Alex Robertson
The link to the write up page and resources of this webinar:
https://www.apm.org.uk/news/ai-in-the-project-profession-examples-of-current-use-and-roadmaps-to-adoption-webinar/
Content description:
Disruptive technology and accelerating change is the now the norm within business. Advancements that feel relatively recent are already becoming embedded into business-as-usual activity. AI is one such advancement; it is already being used and having real-world impacts across the project profession.
To help P3M professionals understand the implications of this change, APM invited representatives from organisations that have introduced or are preparing to introduce AI into their project workstreams, to explain their approach and share their insight with fellow professionals.
This webinar on explored how AI is currently being used in project and programme management, and how organisations are gearing up for its adoption.
Katharine works for WRAP which is a climate action NGO working in more than 40 countries around the globe to tackle the causes of the climate crisis and give the planet a sustainable future. In this session, you will learn about WRAP’s plastics programme and how sustainability has been incorporated as a core value in delivery of the programme, with the aim of inspiring the audience to take action in their own work.
Kai-Fu Lee predicted that AI would change the world more than anything in the history of humanity – even electricity. It would disrupt how we live and work, how we operate our businesses, the core products and services on offer and the way in which we build technology.
However, in 2024 the impact of AI can no longer be discussed in future tense. With Microsoft copilot now publicly available, the change is already upon us. There is no consultation period or ‘unsubscribe’ button.
Project management professionals are likely to be asked to manage AI projects - and we are expected to skilfully use AI in our daily work lives. While overwhelming, this is not the first time we’ve had to adapt.
Sarah helps her audience sharpen their cutting-edge skills by answering:
What do I need to know about AI right now?
If I’m asked to work on an AI project, what techniques do I need to be successful?
Where do I start my own learning journey to upskill and prepare?
Sarah’s expertise in advanced agile and experience in highly regulated Finance environments give her a unique perspective into balancing governance with technical innovation. She uses her own experience building an AI solution in 2023 to share practical, widely applicable concepts in an “AI for project managers” 101 style session.
3.0 Project 2_ Developing My Brand Identity Kit.pptxtanyjahb
A personal brand exploration presentation summarizes an individual's unique qualities and goals, covering strengths, values, passions, and target audience. It helps individuals understand what makes them stand out, their desired image, and how they aim to achieve it.
LA HUG - Video Testimonials with Chynna Morgan - June 2024Lital Barkan
Have you ever heard that user-generated content or video testimonials can take your brand to the next level? We will explore how you can effectively use video testimonials to leverage and boost your sales, content strategy, and increase your CRM data.🤯
We will dig deeper into:
1. How to capture video testimonials that convert from your audience 🎥
2. How to leverage your testimonials to boost your sales 💲
3. How you can capture more CRM data to understand your audience better through video testimonials. 📊
What is the TDS Return Filing Due Date for FY 2024-25.pdfseoforlegalpillers
It is crucial for the taxpayers to understand about the TDS Return Filing Due Date, so that they can fulfill your TDS obligations efficiently. Taxpayers can avoid penalties by sticking to the deadlines and by accurate filing of TDS. Timely filing of TDS will make sure about the availability of tax credits. You can also seek the professional guidance of experts like Legal Pillers for timely filing of the TDS Return.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Attending a job Interview for B1 and B2 Englsih learnersErika906060
It is a sample of an interview for a business english class for pre-intermediate and intermediate english students with emphasis on the speking ability.
"𝑩𝑬𝑮𝑼𝑵 𝑾𝑰𝑻𝑯 𝑻𝑱 𝑰𝑺 𝑯𝑨𝑳𝑭 𝑫𝑶𝑵𝑬"
𝐓𝐉 𝐂𝐨𝐦𝐬 (𝐓𝐉 𝐂𝐨𝐦𝐦𝐮𝐧𝐢𝐜𝐚𝐭𝐢𝐨𝐧𝐬) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
𝐓𝐉 𝐂𝐨𝐦𝐬 provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
⭐ 𝐅𝐞𝐚𝐭𝐮𝐫𝐞𝐝 𝐩𝐫𝐨𝐣𝐞𝐜𝐭𝐬:
➢ 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
➢ SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
➢FreenBecky 1st Fan Meeting in Vietnam
➢CHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
➢ WOW K-Music Festival 2023
➢ Winner [CROSS] Tour in HCM
➢ Super Show 9 in HCM with Super Junior
➢ HCMC - Gyeongsangbuk-do Culture and Tourism Festival
➢ Korean Vietnam Partnership - Fair with LG
➢ Korean President visits Samsung Electronics R&D Center
➢ Vietnam Food Expo with Lotte Wellfood
"𝐄𝐯𝐞𝐫𝐲 𝐞𝐯𝐞𝐧𝐭 𝐢𝐬 𝐚 𝐬𝐭𝐨𝐫𝐲, 𝐚 𝐬𝐩𝐞𝐜𝐢𝐚𝐥 𝐣𝐨𝐮𝐫𝐧𝐞𝐲. 𝐖𝐞 𝐚𝐥𝐰𝐚𝐲𝐬 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐭𝐡𝐚𝐭 𝐬𝐡𝐨𝐫𝐭𝐥𝐲 𝐲𝐨𝐮 𝐰𝐢𝐥𝐥 𝐛𝐞 𝐚 𝐩𝐚𝐫𝐭 𝐨𝐟 𝐨𝐮𝐫 𝐬𝐭𝐨𝐫𝐢𝐞𝐬."
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
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2. Determining the Mathematical Roi of a Project Management Implementation2
Abstract
The objective of this paper is to present, discuss and apply a mathematical model
based on the use of Monte Carlo simulation in conjunction with researches on
project success/failure rates of projects to develop a 10 step model to calculate
the mathematical return on investment (ROI) for the Project Office implementa-
tion.
The paper aims to provide guidance on how intangible results resulting from the
project planning and control can be linked to potential savings in time and cost
comparing with projects poorly managed (KWAK & IBBS, 2000). It is not the scope
of this paper to demonstrate the positive impact of good project management
practices. The main objective is to discuss possible ways of measuring results in
order to have a more clear cost benefit analysis regarding the value of a PMO
Setup (HUBBARD, 2010).
This paper also discusses the main challenges to quantify benefits considering
cultural, social and value perception dimensions in order to translate benefits
into clear and measurable numbers.
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3. ricardo-vargas.com 3
The Importance of Clear Benefit Measurement
Business improvement processes like the Project Management Office implemen-
tation are, most of the time, linked to indirect benefits achievement. In the past,
program, project, or process success was measured by activity: number of people
involved, money spent, days to complete. Little consideration was given to the
benefits derived from these activities because they were considered impossible
to be clearly measured (PHILIPS & PHILIPS, 2007).
The intention of clear measurement of benefits can be based in the following
arguments:
• Price/money is a proxy for value.
• Measurable outcomes contribute to a better alignment and integration
with financial systems performance.
• More tangible results support the identification of critical sources of value.
• Promotes communication and makes results quantitatively tangible.
Understand the clear impact on project results of the project management pro-
cesses, tools and existing support and how this structure contributes to better
project results became a key driver to understand the value of project manage-
ment (EIU, 2009)
Model Overview
The proposed model is based on 10 (ten) processes that are organized into 6 (six)
groups (Exhibit 01). Both the processes and the groups are interrelated in order
to produce the needed steps to understand the real costs and benefits brought
by the Project Management Implementation.
4. Determining the Mathematical Roi of a Project Management Implementation4
Exhibit 1 – 10 Processes to calculate the Return on Investment of a Project Management
Office.
The processes are defined following the structure proposed by the PMBOK Guide
(PMI, 2013) with Inputs, Tools and Techniques and Outputs.
Project Portfolio
The Project Portfolio group describes the process that should be in place to un-
derstand the scope of what should be managed by a potential Project Manage-
ment Office (PMO).The intend is to make sure that the potential projects that will
be supported by the project management office are identified and the cost, time
frame and benefits (value) of these projects are calculated.
The Project Portfolio group is divided in the following processes
• Create the portfolio of projects
• Calculate financial return of projects in the portfolio
• Categorize projects
Create the Portfolio of Projects
This is process is responsible for the creation of the portfolio of projects. Based in
working groups and the support of experts, it aims to create a list of the projects
that will be managed by the PMO including some preliminary information like
the Project objectives, estimated duration and budget (Exhibit 2).
5. ricardo-vargas.com 5
Exhibit 2 – Create Portfolio of Projects
The Project Portfolio can be presented in different ways but the most suitable to
support the upcoming process is a list with the name of the project, estimated
duration and budget (Exhibit 3). If the Project Office will support all kinds of proj-
ects at the corporate level, the list of projects can include a very different set of
initiatives.
Exhibit 3 – Example of basic project list
The preliminary project information can include all supporting information
about the project, including main objectives, outputs, expected benefits and ba-
sic scope (Exhibit 4). This preliminary information can be also called Project Brief
or Outline Business Case (UK CABINET OFFICE, 2011)
6. Determining the Mathematical Roi of a Project Management Implementation6
Exhibit 4 – Example of project preliminary information
Calculate Financial Return of Projects in the Portfolio
After identifying the potential portfolio of projects to be managed, it becomes
important to calculate the benefits in terms of financial results of each project.
This is one of the most challenging steps towards the calculation of the ROI of
a Project office. Using the preliminary information, all proposed benefits will be
measured in order to find clear outcomes (Exhibit 5).
Exhibit 5 – Calculate Financial Return of Projects in the Portfolio
In some cases, this is easily measurable in terms of increase in the production,
market place, etc. In other projects, the intangible results must be converted into
an estimated final outcome. As an example, one main outcome of the“University
Tiger Screws”project is to develop new capabilities in the current staff in order to
reduce the investments with additional hiring of personnel. A range of potential
7. ricardo-vargas.com 7
savings is defined and through the pairwise comparison using the Analytic Hier-
archy Process (SAATY, 1980, SAATY, 2009 and VARGAS, 2010), the Expected Value
of the benefit could be estimated (Exhibit 6).
1"/"1
DATE:
1 2 3 4 5
IMPACT
10% ECONOMY 7% ECONOMY 5% ECONOMY 2% ECONOMY NO ECONOMY
871.670,43USD 1
is just as likely is most likely
is much more
likely
is much more
likely
1
610.169,30USD 2
is just as likely is most likely
is much more
likely
2
435.835,22USD 3
is just as likely is most likely 3
174.334,09USD 4
is just as likely 4
-USD 5 5
1 2 3 4 5
39,75% 28,43% 16,57% 9,16% 6,10%
5,4%
19-ago-13
NO ECONOMY
NAME OF THE GROUP TO BE EVALUATED
608.110,28USD
2% ECONOMY5% ECONOMY7% ECONOMY10% ECONOMY
PROBABILITY
EXPECTED VALUE
% Economy in the hiring
process in the next 5 years
UNIVERSITY TIGER SCREWS
ANALYTICAL HIERARCHY PROCESS - INTAGIBLE BENEFITS CALCULATION
OK INCONSISTENCY INDEX
10% ECONOMY
7% ECONOMY
5% ECONOMY
2% ECONOMY
NO ECONOMY
Exhibit 6 – Example of the use of AHP to estimate the Expected Value of the benefit of a
project
The main output of this project is an updated list of projects including the esti-
mated financial benefits.
Categorize Projects (Optional)
For organizations with a wide range of projects, the categorization of projects
could add value in the analysis and stratification of efforts (Exhibit 7).
This optional process group the projects into different categories (Exhibit 8) like
• Departments
• Risk
• Value
• Sponsoring group
• Geographic location
8. Determining the Mathematical Roi of a Project Management Implementation8
Exhibit 7 – Categorize Projects
Exhibit 8 – Example of a categorized list of projects with the calculated benefits
highlighted
Data Distribution Profile
The Data Distribution Profile aims to determine the best“risk profile”of the port-
folio to archive the benefits and it contains the process Determine Optimistic,
Most Likely and Pessimistic Profile for Schedule, Investments and Results.
Using market research, historical information from previous projects and bench-
marking, the objective of this process is to define the optimistic, pessimistic and
most likely scenarios for the duration, costs and financial results of each project
(Exhibit 9).
9. ricardo-vargas.com 9
Exhibit 9 – Determine Optimistic, Most Likely and Pessimistic Profile for Schedule,
Investment and Results
Different external sources can be used to support the decision as follows
• Standish Group Chaos Manifesto (STG, 2013)
• The IPA Institute Database of Capital Projects (IPA, 2013)
• PMI Pulse Report (PMI, 2013)
• Reports and researches from management consulting companies
This process requires a lot of negotiation to set the right thresholds for the proj-
ect without being biased by individuals with over optimistic or over pessimistic
behaviors.
The determination of the profiles can be done considering that the project du-
ration, costs and financial results follow the same distribution (Exhibit 10) or a
different set of distributions for each element.
Exhibit 10 – Example of probabilistic forecasting based on project complexity level. In this
case, a high complexity project with a value of $1,000,000 will cost between $1,250,000
and 1,750,000 without PM support and $1,000,00 and 1,150,000 with proper PM support.
Simulation
The Simulation group describes the process associated with the Monte Carlo
simulation of the duration of the projects in the portfolio, associated costs and
financial results.
“Monte Carlo” was a nickname of a top-secret project related to the draw-
ing and to the project of atomic weapons developed by the mathematician
10. Determining the Mathematical Roi of a Project Management Implementation10
John von Neumann (POUNDSTONE, 1993). He discovered that a simple model of
random samples could solve certain mathematical problems which couldn’t be
solved up to that moment.
The simulation refers, however, to a method by which the distribution of possible
results is produced from successive recalculations of project data, allowing the
development of multiple scenarios. In each one of the calculations, new random
data is used to represent a repetitive and interactive process. The combination
of all these results creates a probabilistic distribution of the results (Exhibit 11).
A B E
C
D
Start Finish
Forecast of Final Cost
%
Exhibit 11 – Construction of model of distribution of costs and activities or work packages
making up a final distribution from random data of the project (PRITCHARD, 2001).
The feasibility of outcoming distribution relies on the fact that, for a high num-
ber of repetitions, the model produced reflects the characteristics of the original
distribution, transforming the distribution into a plausible result for analysis. The
simulation can be applied in schedules, costs and other project indexes.
The Simulation group is divided in the following processes
• Simulate Portfolio of Projects
• Identify Gains in Schedule, Investment and Results with the Implementa-
tion of the PMO
Simulate Portfolio of Projects
This is process is responsible for the simulation of the schedule gains, investment
savings and improvements of financial results (Exhibit 12).
11. ricardo-vargas.com 11
Exhibit 12 – Simulate Portfolio of Projects
The simulation is produced using simulation software and the results are a range
of improvements in duration, budget and financial results with their respective
confidence level (Exhibit 13, 14 and 15).
Exhibit 13 – Example of simulation output for the savings in the total time of the projects
for using the PMO. In this case there is a 90% confidence that the savings will be above
59,87 months.
12. Determining the Mathematical Roi of a Project Management Implementation12
Exhibit 14 – Example of simulation output for the savings in the budget of the projects for
using the PMO. In this case there is a 90% confidence that the savings will be at least
7,079,051.85 months.
Exhibit 15 – Example of simulation output for the gains in financial results of the projects
for using the PMO. In this case there is a 90% confidence that the savings will be at least
3,040,938.53 months.
13. ricardo-vargas.com 13
Identify Gains in Schedule, Investment and Results
with the Implementation of the PMO
After the simulation is concluded, the results are collected for a predefined con-
fidence level in order to identify the measurable improvements (Exhibit 16 and
17).
Exhibit 16 – Identify Gains in Schedule, Investment and Results with the Implementation
of the PMO
Exhibit 17 – Example of gains based on the simulation results (Exhibit 13, 15 and 15)
14. Determining the Mathematical Roi of a Project Management Implementation14
Investments in the PMO
The other aspect that must be considered when evaluating the ROI of a project
implementation is to calculate the amount of costs the organization will incur to
create and maintain the Project Office.
Different costs can be associated with the PMO (AUBRY, HOBBS, MÜLLER & BLOM-
QUIST, 2010). The most common elements are
• Personal cost
• Software and hardware
• Advisory services
• Training
• Others
Exhibit 18 – Calculate Investment and Operational Costs of the PMO/Project Structure
The main output of this process is the total cost of the PMO setup and operation
for a predefined time frame (Exhibit 19).
Exhibit 19 – Example of a PMO Setup and operation cost in a 5 (five) year time frame. All
values should be adjusted to Present Value
15. ricardo-vargas.com 15
Influence of the PMO in the Results
Based on the studies discussed in the step 4 of the process, it is important to
highlight that not all benefits and positive results exclusively stem from the very
existence and operation of the PMO. Many other external factors can benefit
from those results and are beyond the control of the project manager and his/
her team.
Some examples of benefit / dis-benefit drivers not related to project manage-
ment implementations are (UK CABINET OFFICE, 2011)
• External economic factors like currency exchange rate, interest rates
• Market changes
• Changes in the legislation
• Changes in the senior leadership
• Others
In this process (Exhibit 20), it is proposed the use of the Analytical Hierarchy Pro-
cess (AHP) to compare the likelihood of benefits coming from the PMO, in com-
parison with other sources of benefits (SAATY, 1980 and VARGAS, 2010).
Exhibit 20 – Determine the Influence of the PMO on Results
The output of this process is the weight of the PMO in relationship with other
sources of benefits (Exhibit 21).
16. Determining the Mathematical Roi of a Project Management Implementation16
Exhibit 21 – Example of AHP comparing different sources of benefits with project
management implementation. In this case, it is suggested that 52,2% of the benefits could
be justified by the setup and operations of a PMO
RESULTS
The final group of process intends to calculate the return on investment and also
analyze and discuss the final results.
The Results group is divided in the following processes
• Calculate the Return on Investment (ROI) of the PMO
• Analyze Final Results
Calculate the Return on Investment (ROI) of the PMO
This process compare the results obtained in the simulation and compare them
with the investments related to the PMO and the percentage of results attribut-
able to the PMO (Exhibit 22).
17. ricardo-vargas.com 17
Exhibit 22 – Calculate the Return on Investment (ROI) of the PMO
The output of this process is the calculated return on investment with comple-
mentary information (Exhibit 23).
Exhibit 23 – Example of financial calculation based on the simulation results and the cost
/ relevance of the PMO in the results.
18. Determining the Mathematical Roi of a Project Management Implementation18
Analyze Final Results
After receiving the final ROI Report, working groups and the PMO sponsoring
group need to meet in order to analyze and discuss the results to make the final
decision (Exhibit 24).
Exhibit 24 – Analyze Final Results
Conclusions
The proposed model is a “master line” of the value calculation and can thus be
customized and adapted to different scenarios. It is important to highlight that
this model is a simplification of very complex environment, where different per-
ceived values can provide different directions to different stakeholders.
In order to avoid resistance and criticism during the simulation of intangible re-
sults, it is important to do this work in teams to avoid personal biases in the pro-
cess.
Finally, it important to understand the challenge of determining ROI without
knowing which projects are selected and the strategy that supports them. A proj-
ect office that takes care of several different multi million projects is a very differ-
ent effort from a project office that has simple work packages to be controlled.
References
AUBRY, M., HOBBS, B., MÜLLER, R. & BLOMQUIST, T (2010). Identifying Forces Driv-
ing PMO Changes. Project Management Journal, Vol. 41, No. 4, pp. 30-45, 2010.
Newtown Square: Project Management Institute.
EIU (2009). Closing the Gap - The Link Between Project Management Excellence &
Long-Term Success. London: Economist Intelligence Unit.
HUBBARD, D. (2010). How to Measure Anything: Second Edition. Hoboken: JohnWi-
ley & Sons.
IPA (2013). Research as a Foundation. Ashburn: Independent Project Analysts.
Available at http://ipainstitute.com/Home/About/Research
19. ricardo-vargas.com 19
KWAK, Y.H. & IBBS, C.W. (2000). Calculating Project Management’s Return on Invest-
ment. Newtown Square: Project Management Journal, Volume 31, Issue 2. Avail-
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PHILIPS, J. J. & PHILIPS, P. P. (2007). Show me the Money: How to Determine the ROI
in People, Projects and Programs. San Francisco: Berrett-Koehler Publishers.
PMI (2013). Pulse Report of the Profession. Newtown Square: Project Management
Institute. Available at http://www.pmi.org/Knowledge-Center/Pulse.aspx
PMI (2013). The Project Management Body of Knowledge: Fifth Edition. Newtown
Square: Project Management Institute.
POUNDSTONE, W (1993). Prisoner’s Dillema. Flushing: Anchor Publishing Group.
PRITCHARD, C. L. (2001). Risk Management: Concepts and Guidance. 2ª Ed. Arling-
ton: ESI International.
SAATY, T. L (1980). The Analytic Hierarchy Process. New York: McGraw-Hill Interna-
tional.
SAATY, T. L. (2009). Extending the Measurement of Tangibles to Intangibles. Inter-
national Journal of Information Technology & Decision Making, Vol. 8, No. 1, pp.
7-27, 2009. Available at SSRN: http://ssrn.com/abstract=1483438.
STG (2013). The Chaos Manifesto. Boston:The Standish Group. Available at https://
secure.standishgroup.com/reports/reports.php
UK CABINET OFFICE (2011). Managing Successful Programmes: Forth Edition. Lon-
don: The Stationery Office.
VARGAS, R (2004). Earned Value Probabilistic Forecasting Using Monte Carlo Simula-
tion. Washington: AACE - Association for Advancement of Cost Engineering 48th
Annual Meeting.
VARGAS, R. V. (2010). Using Analytical Hierarchy Process to Select and Prioritize Proj-
ects in Portfolio Management. Dallas: PMI Global Congress North America. Avail-
able at http://www.ricardo-vargas.com/articles/analytic-hierarchy-process/