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[…]

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[…]

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[…]

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[…]

Project Pipeline Management

Project pipeline management is an important component of project portfolio management (PPM) because it encompasses the work needed to “select the right projects”. Pipeline management involves steps to ensure that an adequate number of project proposals are generated, evaluated, and screened out at various stages of the intake process that meet strategic objectives. There are Read more about Project Pipeline Management[…]

Cloudbyz ITPM July 2017 Release Overview

Cloudbyz PPM July’17 release bring exciting new features that users requested and will find extremely useful. We have also fixed certain issues related to export of project schedule to MS Project. New Features: Timesheet The Timesheet functionality which is typically the one used by all users in an organization is revamped with a simple to Read more about Cloudbyz ITPM July 2017 Release Overview[…]

How to Measure Projects Success: Successful vs. Troubled vs. Failed Projects

By Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting Traditional Models There are a lot of rating models out there that attempt to define project success or failure. There is the traditional one: Success: Finished (more or less) on time, within budget and met all requirements Challenged:  Reaches conclusion, but with cost overruns and Read more about How to Measure Projects Success: Successful vs. Troubled vs. Failed Projects[…]

Project Portfolio Management – The Role of the PMO

By Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting The role of the PMO in the project portfolio management process can be generally divided into two domains: project prioritization and selection as well as project management and monitoring (see Figure 1). Figure 1 The first role of the PMO is to act as a Read more about Project Portfolio Management – The Role of the PMO[…]

Why Should You Try to Generate as Many Project Proposals as Possible

By Jamal Moustafaev, MBA, PMP – president and founder of Thinktank Consulting A great American scientist and a 1954 Nobel Prize in Chemistry winner Linus Pauling once said, “If you want to have good ideas you must have many ideas. Most of them will be wrong, and what you have to learn is which ones to throw Read more about Why Should You Try to Generate as Many Project Proposals as Possible[…]