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Transcript of Ww.pmoplanet.com © 2011 PMO Planet Ltd How to Eat an Elephant? The Mammoth Tusk Task of Setting Up...
ww.pmoplanet.com© 2011 PMO Planet Ltd
How to Eat an Elephant?The Mammoth Tusk Task of Setting Up a Portfolio Office
ww.pmoplanet.com
ww.pmoplanet.com© 2011 Ltd
How big is the Elephant?
Planning
Risk
Reso
urce
s
Cost
s /
Fina
nces
Reporting
Chan
ge C
ontro
l
Prio
ritisa
tion
Issu
e(s)
Benefits
DependenciesDeliverables Tracking
Knowledge Mgmt
CommunicationBoard Admin
ww.pmoplanet.com© 2011 Ltd
What is Portfolio Management?
‘Portfolio Management is the corporate, strategic-level process for Coordinating successful delivery across an organisations entire set of programmes and projects’ OGC Managing Portfolios of Change 2007
‘.....Are we doing the RIGHT thing, Are we doing the THING right....’
OGC P3O 2009
ww.pmoplanet.com© 2011 Ltd
How to Implement a Portfolio Office?
4PPeople Process
Parameters Performance
ww.pmoplanet.com© 2011 Ltd
How to Implement a Portfolio Office?
Process
Parameters Performance
People
ww.pmoplanet.com© 2011 Ltd
People ...Collaboration
....this is what we want
ww.pmoplanet.com© 2011 Ltd
People ...Collaboration
....but we often get this instead
ww.pmoplanet.com© 2011 Ltd
People... Pull not Push
Win the licence to operate...... Collaborate.... Involve.... the need for Change...
Set the Vision....
ww.pmoplanet.com© 2011 Ltd
How to Implement a Portfolio Office?
People
Parameters Performance
Process
ww.pmoplanet.com© 2011 Ltd
Process... Continuous Improvement
Evalu
ate
Implem
entDesign
Embe
dChange Forum
5
4
3
2
1
Ma
turity
Le
vel
Time
ww.pmoplanet.com© 2011 Ltd
Process... the Governance Level
Strategy & Portfolio
Objectives and Measures
DefinitionOf Change Initiate Delivery
BAU / Operational
Improvement
Identify Deliver the Capability .......Transition the Change
Realise the Benefits Close
Define Plan Deliver Close
Prioritisation
Define
ww.pmoplanet.com© 2011 Ltd
How to Implement a Portfolio Office?
People Process
Parameters Performance
ww.pmoplanet.com© 2011 Ltd
Performance... We are in it together
‘If you measure it, people will do it’
Avoid PMO KPI’s – Make them department measures
Keep Positive – adherence to process, not the ones that did not
ww.pmoplanet.com© 2011 Ltd
Performance... Getting the right information,under the right persons nose
Measure the right things- Benefits- Milestones-Costs-Resources
Although the data underneath can be complex,
At the top keep it simple
ww.pmoplanet.com© 2011 Ltd
How to Implement a Portfolio Office?
People Process
PerformanceParameters
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Parameters... Set the bar at right level
ww.pmoplanet.com© 2011 Ltd
Parameters...Breadth not Depth
Portfolio
Programme A
ProjectA1
ProjectA2
ProjectA3
Programme B
ProjectB1
ProjectB2
ProjectB3
ww.pmoplanet.com© 2011 Ltd
Parameters...Not all Milestones are Equal?
ww.pmoplanet.com© 2011 Ltd
Parameters... Not all Milestones are Equal?
Level Governance Example
Level 1 Portfolio Board Project and Programme Go Live Benefit DriversBusiness Case Signed Off
Level 2 Programme Board Programme Phase EndsProgramme Decision PointsTransition Points
Level 3 Project Board Project DeliverablesProject End PhasesProject Decision Points
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Parameters... Risk...
“You can’t fight what you can’t see”Batman 2005
High 3 High 3 Portfolio 7Medium 2 Medium 2 Programme 4Low 1 Low 1 Project 1
4 or Less
Portfolio BoardProgramme Board
Project Board
Governance Level Score
Probability Impact Escalation
8 or More5 to 7
ww.pmoplanet.com© 2011 Ltd
Parameters... R.A.G.AMBER means ‘Stop’ at the stop line. You may go on only if the AMBER appears after you have crossed the stop line or are so close to it that to pull up might cause an accident The Highway Code 2010
Make the RAG Status ‘Tangible’ its either Red or Amber
Keep it Simple...try...Programme – Delivery against Benefits (Outcomes)Projects – Delivery against Deliverables (Outputs)
ww.pmoplanet.com© 2011 Ltd
Parameters... Not percentages
10% of £10k = £1k
10% of £1m = £100k
Above £25k per project
Across ‘X’ projects
OR
Know you risk exposure across the Portfolio
ww.pmoplanet.com© 2011 Ltd
All this for 4p...
People – Collaborate, Set the Vision, be FlexibleProcess – Continuous Improvement, IterativePerformance – Measures drive BehaviourParameters – Breadth not Depth, & be Tangible
Instead of trying to eat an Elephant......... Try starting with a Giraffe or Zebra
ww.pmoplanet.com© 2011 Ltd
And Finally... Keep the faith"I have missed more than
9000 shots in my career. I have lost almost 300 games. On 26 occasions I have been entrusted to take the game winning shot... and missed. And I have failed over and over and over again in my life. And that is why... I succeed."
Michael Jordan
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All this for 4p...Thank You