The arrival of game-changing technologies like mobile apps, social media, cloud computing has brought forth a new standard in the operational & decision-making process for many businesses. The CIO’s and IT Leaders role continues to undergo a transformation that is driving business leaders closer to customer demands and
Portfolio management is about maximizing organizational value delivery through programs and projects. In order to maximize value delivery, the governance teams that approve work and prioritize projects need to share a common view of “value” in order to use a scoring model to select the most valuable work and assign the right resources to that…
What is the difference between a work intake process and a Stage-Gate process? This is important to distinguish, especially for newer PMO’s that are setting up portfolio management processes.The work in-take process refers to the steps of developing a project proposal and bringing it to the governance board (or PMO) for a
Cloudbyz and BMC hosted a webinar on “Achieve real-time visibility on Enterprise IT with Cloudbyz ITPM and BMC Remedyforce” on 18th Jan 2018.
Cloudbyz ITPM solution helps organizations gain visibility, insight, and control across all work.
Cloudbyz ITPM solution helps organizations gain visibility, insight, and control across all work. The solution provide the tools to properly align resources, projects, and goals, optimizing
A picture’s worth a thousand words, at least that’s how the saying goes. We at BMC Remedyforce are excited to share a fantastic picture showing the ever evolving Remedyforce Ecosystem ! The picture above shows all the great integrations that Remedyforce has with other complimentary products. We continue to add partners
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…
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
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.
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 the days of maintaining multiple versions of static Excel files that contain the current “authorized” list of projects. This value is magnified easier to access the system and the greater
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
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
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…
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
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, in fact, it is an important
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
IT Business Management is a framework and approach that brings together people, process and technology to enable organizations to manage IT with real-time visibility, agility and support change and innovation. ITBM improves visibility on cost and performance and helps CIO and IT leaders to make right decision at the right
Houston, USA 20 Aug, 2017– AutomationEdge, one of the global leaders in providing IT Automation and Robotic Process Automation (RPA) solutions, announces its partnership with Cloudbyz, a leader in cloud based enterprise applications. The strategic partnership will enable both the leaders to serve their customers much better by
Application Portfolio Management (APM) is a framework for managing applications in enterprise. APM provides an inventory of an organization’s software applications and software-based services as well as metrics showing the business benefits of each application.Metrics can provide information from various perspective such as business ,
Managing project dependencies are an important part of portfolio planning as well as tactically managing project execution. Unknown dependencies represent a major portfolio risk and in complex environments, inadequate identification of project dependencies can derail projects or programs. Dependencies can be any
The Timesheet functionality which is typically the one used by all users in an organization is revamped with a simple to use UI providing users the ability to enter time against three categories of activities viz., Project, Operations and Organizational. Users would also be able to copy the entries from previous week thus reducing the time it
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:
The first role of the PMO is to act as a filtration mechanism for all the incoming project proposals. It is very important to point out that project management office should not have a mandate to overturn or reject project requests. Its role is to accept the business cases, review them and whenever possible to point…
One of the first steps to collecting the maximum possible number of proposals is to make the submission process simple. One of the tricks used by some of my clients was to publish the finalized version of the scoring model on the company Intranet that was accessible to all company employees. Another organization went as far as printing
Infographic – Pharmaceutical Industry – Project Portfolio Management Summary
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
Innovation is a hot topic in business right now with an ever growing need for companies to deliver better products and services. A key ingredient for fostering innovation is enterprise collaboration. Until a few years ago, collaboration was often limited to smaller teams, but this could introduce a higher risk of duplicative efforts
Project prioritization is one of the most common topics in portfolio management literature. Within the context of project prioritization is the matter of scoring models because scoring models are the most widely used approach to prioritize projects. Although there are a lot of opinions on the effectiveness of common scoring models,
Prioritization is about focus—where to assign resources and when to start the work. It is not about scoring methods and ranking mechanisms. Without defining project priorities, it is difficult to effectively distribute personnel to carry out the highest valued projects. Project priorities enable management to assign their employees to the most
When people refer to the “war for talent” many discussions center on talent acquisition and try to answer the question “how do we hire the best people?” Although talent acquisition is important, talent development and retention are also very important (you want to keep those great people you hired, correct?).
There are many different approaches to project prioritization, but the most popular ones are the financial method and the scoring model. In this posting let us
A question that I get asked fairly frequently during my consulting or training engagements sounds something like this: We have heard about this “project portfolio
Program and Project delivery in IT is becoming increasingly complex and challenging with the dispersion of project teams across geographies, multiple vendors, dynamic changes in scope, and stakeholder expectations of faster delivery at lower budgets. PMO function plays a crucial role in managing this complexity and overcoming the challenges.
Here is my favourite definition of risk: Risk is a bad thing that can happen on your project, but you are not entirely sure it
I recently finished a project helping a CPG organization within a large retail company implement a product portfolio management process. The company as a whole
In our hyper-accelerated business world, data analysis and data visualization are exceptionally important. In the realm of project portfolio management (PPM) and PMO’s, organizations need robust data analysis to strengthen decision making and improve strategic execution. The key is to have the right processes in place to collect the right data and ensure
When the Requirements Specifications is complete, the project manager (or the business analyst) must inspect the document with all the stakeholders in order to (along with other very important things) prioritize all of the project features and/or requirements. Project features have to be prioritized for the following reasons:Prioritization eliminates unnecessary, frivolous scope items added
The value of IT Service Management (ITSM) is clear: thousands of organizations, including 85% of the Fortune 500, are successfully using ITSM to improve efficiency, effectiveness, control, and insight while improving customer experience and satisfaction. Barely on the radar even a decade ago, the idea of leveraging best practices in the enterprise IT
At first glance, Information Technology and Human Resources have little in common: IT focuses on the “hard” stuff – data, applications, infrastructure – while HR tends to focus on the “soft” stuff – people, skills, talent. With different cultures, perspectives, and ways of working, IT and HR appear to have little in common. Yet at…
As digital transformation reshaping the enterprises across the industries, IT leaders recognize the need to innovate more, manage uncertainty better and establish more agility. However, they have to do this while simultaneously running the business and hitting regular performance goals, which is where both traditional and agile capabilities
What is the App Gap, beyond a fun expression? Today’s post looks at the issue of the APP GAP, an issue we touched on previously.
This is the third post in a series on portfolio management reports. In the first post, we reviewed introductory portfolio management reports that convey the basic dimensions of the portfolio. In the second report we reviewed treemaps and advanced pareto charts that can help identify outlier projects worthy of more scrutiny. In this post we…
The next company to be discussed in our ongoing project portfolio management series is a rail transport engineering company that has encountered several challenges in the past several years. The organization has been reporting heavy losses from its operations for the past decade with no sign of potential improvement.The analysis of the company’s operations has shown…
So, here is an example of a “back of the envelope” calculation of total project resources bucket at a company that has proven to be extremely robust.
Imagine that there are 250 employees working at the head office. It has been estimated via survey or questionnaires that approximately 30% of their time is spent on project work and 70% on business as usual, i.e. normal daily non-project tasks. Based on that information we can assess the size of the total project resource bucket at the company:
Is it any wonder that the vast majority of IT leaders have no idea what is in their organization’s Application Portfolio, how much it costs, and whether it actually supports business objectives?Today’s IT portfolio management landscape is littered by spreadsheets, sharepoints, emails, and single purpose, fragmented point tools that require error-prone manual consolidation
A recent report from Fujitsu and subsequent post from Derek du Preez at Diginomica are must reading for every CIO and IT leader. The sobering report indicates that IT and business leaders agree that digital transformation is critical for top line success and creating value for customers. Yet most organizations lack a clear strategy
Steven Hall of ISG – writing at CFO – has penned an excellent post “How Do You Know if IT Costs Too Much?” that very much reflects our thinking here at QuePro Advisors. Steven’s post looks at the issue of “IT Spend” most often expressed as Percentage of Revenue or Spend per Employee. In more traditional IT-environment
Based on the latest survey conducted by Colt, more than 68% of CIOs say they base high-pressure decisions on instinct and experience more than any other factor. Despite that, 76% admitted their instinct went against other sources, such as data or advice from third parties. The research findings indicate that lack of cohesion and
Question number one highlights a common trap for many companies, approving all or almost all projects that get reviewed. This indicates that the project selection process is not working well. When governance councils have a project approval over 90%, it means very few projects are getting screened out and some poor projects are probably…
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