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Prioritization Matrix

In a recent LinkedIn discussion, questions were asked about the short-comings of prioritization matrices. I would like to highlight the strengths and weaknesses of using such a tool for portfolio management. Firstly, a prioritization matrix differs from a more traditional scoring approach in that it offers a limited number of priority selections. The most simplistic Read more about Prioritization Matrix[…]

Benefits Realization Summary

The purpose of validating benefits is to ensure that real value has been delivered from projects post-implementation as well as increase value from future projects when shortfalls have been identified in present projects. Although the business case promises to deliver a certain amount of value (in most cases), few companies take the time to ensure Read more about Benefits Realization Summary[…]

The Value of Time Tracking

What is the real value in tracking time for project and non-project work?  The fact is collecting accurate time measurements across an entire organization can be time consuming and potentially expensive. Collecting time for the sake of collecting time is a huge waste of good organizational energy. I have compiled a list of six reasons Read more about The Value of Time Tracking[…]

Greater Value From Portfolio Management Systems

Portfolio management systems have a very real place in making PPM processes successful. These systems have the potential to drive value in a number of ways, some of which are highlighted below: 1) Enterprise repository (“single source of truth”)—having a single system that contains up-to-date and accurate project and portfolio data is valuable. Gone are Read more about Greater Value From Portfolio Management Systems[…]

Pipeline Management-Stage Gates Part 2

Stage gates are a governance structure to evaluate, authorize, and monitor projects as they pass through the project lifecycle. In the last post, we looked at the first four reasons for establishing a stage gate process in the organization. In this post, we conclude with the last four reasons for establishing a decision gate process. 5) Greater Read more about Pipeline Management-Stage Gates Part 2[…]

Pipeline Management-Stage Gates Part 1

Stage-Gates™ are a critical component of project selection. A winning portfolio must contain winning projects, therefore the project governance board must be able to discriminate between good projects and great projects. The decision gate process enables the project governance board to review these projects based on preselected strategic criteria at the gate reviews of the Read more about Pipeline Management-Stage Gates Part 1[…]

Be Sure To Use The Portfolio Data

Data represents a major facet of successfully implementing project portfolio management (PPM). In a previous post, I discussed how data drives the portfolio management engine and some of the key components for getting good data into the tool. Some important portfolio data types includes: financial data, resource data, schedule data, and benefits data. Leadership plays Read more about Be Sure To Use The Portfolio Data[…]

The Right Portfolio Data at the Right Time

From a very pragmatic point of view, getting the right data at the right time is at the heart of good project portfolio management. If the right data is not available for decision makers to use, the issue will be mediocre results at best. Portfolio management is about selecting the right projects, optimizing the portfolio Read more about The Right Portfolio Data at the Right Time[…]

Tactical or Strategic PPM

Fundamentally, portfolio management is about strategic execution and maximizing value to the organization through important project investments. Through various processes, leadership teams can determine how well their project investments align to key strategic goals. Optimization techniques can further enhance the value of the portfolio, ensuring that organizations get the biggest bang for their project buck. Read more about Tactical or Strategic PPM[…]

Portfolio Planning vs Strategic Planning

Too often, the modus operandi for many organizations is to receive requests and filter them through a stage-gate process in order to evaluate the merit of the request and select the right projects. If the project is selected, a project team is assembled and the project planning begins. There is nothing wrong with this process, Read more about Portfolio Planning vs Strategic Planning[…]