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Project Portfolio Management

Project Portfolio Management. LFMA Conference - 2014. Project Portfolio Management. Do you: Have IT reporting to you? Have an active role in reviewing and prioritizing projects? Have dedicated Business Analysts or PMs? Require PMI certification?. Previous PM Process. Ice Cream approach

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Project Portfolio Management

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  1. Project Portfolio Management LFMA Conference - 2014

  2. Project Portfolio Management Do you: Have IT reporting to you? Have an active role in reviewing and prioritizing projects? Have dedicated Business Analysts or PMs? Require PMI certification?

  3. Previous PM Process Ice Cream approach Bribery WWJD What Would Jodi Do? WWPD What Would Pat Do?

  4. Why improve the process? Amount of work significantly exceeds resource. Are we working the most important projects? More effectively include senior/executive management in decision making process. Particularly important when supporting over 30 functional areas. Provide a consistent project experience

  5. Challenges Creating a prioritization process that works across a large management team. Implement change that requires more analysis work up front. Creating a governance process with the appropriate level of complexity.

  6. Complexity Internal discussions about process complexity are ongoing. PMI – do 500 pages of guidelines provide the answer? Example: DOU form (before and after) Example: Ranking spreadsheet (before and after)

  7. The New Process Project Request Form Process Flow Reports Review and prioritization at multiple stages Up-to-date information for project owners Project Sites

  8. Project Mgmt Methodologies Waterfall Traditional method with heavy upfront planning Inflexible Agile Iterative process More flexibility More risk from a cost perspective

  9. Questions?

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