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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
© 2011Ltd How big is the Elephant? Planning Risk Resources Costs / Finances Reporting Change Control Prioritisation Issue(s) Benefits Dependencies Deliverables Tracking Knowledge Mgmt Communication Board Admin
ww.pmoplanet.com © 2011Ltd 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 © 2011Ltd How to Implement a Portfolio Office? People Process Parameters Performance
ww.pmoplanet.com © 2011Ltd How to Implement a Portfolio Office? Process Parameters Performance People
ww.pmoplanet.com © 2011Ltd People...Collaboration....this is what we want
ww.pmoplanet.com © 2011Ltd People...Collaboration....but we often get this instead
ww.pmoplanet.com © 2011Ltd People... Pull not Push Win the licence to operate Collaborate.... Involve.... the need for Change... Set the Vision....
ww.pmoplanet.com © 2011Ltd How to Implement a Portfolio Office? People Parameters Performance Process
ww.pmoplanet.com © 2011Ltd Process... Continuous Improvement Evaluate Implement Design Embed Change Forum Maturity Level Time
ww.pmoplanet.com © 2011Ltd Process... the Governance Level Strategy & Portfolio Objectives and Measures Definition Of Change Initiate Delivery BAU / Operational Improvement Identify Deliver the Capability Transition the Change Realise the Benefits Close DefinePlan Deliver Close Prioritisation Define
ww.pmoplanet.com © 2011Ltd How to Implement a Portfolio Office? People Process Parameters Performance
ww.pmoplanet.com © 2011Ltd 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 © 2011Ltd 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 © 2011Ltd How to Implement a Portfolio Office? People Process Performance Parameters
ww.pmoplanet.com © 2011Ltd Parameters... Set the bar at right level
ww.pmoplanet.com © 2011Ltd Parameters...Breadth not Depth Portfolio Programme A Project A1 Project A2 Project A3 Programme B Project B1 Project B2 Project B3
ww.pmoplanet.com © 2011Ltd Parameters...Not all Milestones are Equal?
ww.pmoplanet.com © 2011Ltd Parameters... Not all Milestones are Equal? LevelGovernanceExample Level 1Portfolio BoardProject and Programme Go Live Benefit Drivers Business Case Signed Off Level 2Programme BoardProgramme Phase Ends Programme Decision Points Transition Points Level 3Project BoardProject Deliverables Project End Phases Project Decision Points
ww.pmoplanet.com © 2011Ltd Parameters... Risk... “You can’t fight what you can’t see” Batman 2005
ww.pmoplanet.com © 2011Ltd 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 © 2011Ltd 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 © 2011Ltd All this for 4p... People – Collaborate, Set the Vision, be Flexible Process – Continuous Improvement, Iterative Performance – Measures drive Behaviour Parameters – Breadth not Depth, & be Tangible Instead of trying to eat an Elephant Try starting with a Giraffe or Zebra
ww.pmoplanet.com © 2011Ltd 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
ww.pmoplanet.com © 2011Ltd All this for 4p... Thank You
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