tag:blogger.com,1999:blog-27574240623693050602024-03-12T21:09:14.820-04:00Project Management Core CompetencyMy vision is that every project should be successful and to enable that we should devote energy on developing and encouraging Project Management as a core competency
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</a>Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.comBlogger14125tag:blogger.com,1999:blog-2757424062369305060.post-43551834409455141462016-09-04T10:14:00.002-04:002016-09-04T10:54:23.040-04:00Stakeholder's manage or engage?<div>
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<tr><td class="tr-caption" style="text-align: center;"><b>:-) Steak-Holder</b></td></tr>
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<span style="font-family: "trebuchet ms" , sans-serif;">In my previous blog entries I have shown how the success of a project is measured, and that success is clearly related to the level of adoption of the project solution. Therefore h</span><span style="font-family: "trebuchet ms" , sans-serif;">appy stakeholders are key to successful projects. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">In 1998 a UK National Audit Office report identified lack of effective engagement as one of the common causes of project failure. Again in 2009 this reason was cited as a common cause of project failure.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This is 2016, hopefully we have learnt enough about the impact of poor change management that we do not want to spear our stakeholders and force them into yielding to an imposition of a solution. If we follow this approach to implementing solutions then we are treating our stakeholders to divide and conqueror approach to implementation. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The purpose of this post is to explore the differences between Stakeholder engagement and stakeholder management. Providing a discussion, thoughts and steps you can take to improve your stakeholders participation in your next project.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">Current Thinking</span></h3>
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<span style="font-family: "trebuchet ms" , sans-serif;">Simple Google search provides a easy test.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">"Stakeholder Management" returns about 552,000</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">"Stakeholder Engagement" returns about 2,740,000</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">This simple test provides evidence that perhaps Stakeholder Engagement is the way the world is thinking of how to connect with stakeholders.<br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The PMI View</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">The Project Management Institute's PMBOK Guide with its knowledge area chapter titled Stakeholder Management clearly takes the view that the approach is one of managing stakeholders. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Whereas the PMI's Program Management Standard looks at stakeholders with an engagement mindset.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">The Axelos View</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">"Managing Successful Programmes"(MSP) has always seen that the approach for working with stakeholders as one of engagement not management. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.axelos.com/case-studies-and-white-papers/msp-a-basic-overview.aspx" target="_blank">Overview of MSP</a> <span style="font-size: x-small;">(you will need to create a profile on Axelos site)</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span><span style="font-family: "trebuchet ms" , sans-serif;">MSP as best practice identifies a six step process:</span><br />
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Trebuchet MS"; mso-fareast-font-family: "Trebuchet MS";">1.<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;"> </span></span><!--[endif]--><span style="font-family: "trebuchet ms" , sans-serif;">Identify who the stakeholders
are, so that communication strategies can be appropriately focused.<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Trebuchet MS"; mso-fareast-font-family: "Trebuchet MS";">2.<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span style="font-family: "trebuchet ms" , sans-serif;">Evaluate
the interest, attitude and influence of the stakeholder<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Trebuchet MS"; mso-fareast-font-family: "Trebuchet MS";">3.<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span style="font-family: "trebuchet ms" , sans-serif;">Write
a stakeholder engagement strategy, including the content, format and frequency
of communication, as well as the designated sender(s) and recipient(s)<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Trebuchet MS"; mso-fareast-font-family: "Trebuchet MS";">4.<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span style="font-family: "trebuchet ms" , sans-serif;">Plan
when and how the stakeholder engagement strategy will take place<o:p></o:p></span></div>
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif; mso-bidi-font-family: "Trebuchet MS"; mso-fareast-font-family: "Trebuchet MS";">5.<span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;">
</span></span><!--[endif]--><span style="font-family: "trebuchet ms" , sans-serif;">Implement
the stakeholder engagement strategy (communicate the required information)</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">6. </span><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%; text-indent: -17.85pt;">Monitor the effectiveness
of the strategy, but ensuring that all the key stakeholders have the
information that they require and are satisfied with their position in relation
to the project.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">PRINCE2 with it's Project Board governance structure taking in three viewpoints from stakeholders (Customer, Corporate and Supplier) provides stakeholders with control over the project. Consequently stakeholders are managing the project rather than being managed.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">The principles of PRINCE2 also calls for learning from the experience of all stakeholders. Plus because of the close links with Managing Successful Programmes guidance of PRINCE2 practitioners is to look to that model for processes and guidance on Stakeholders.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">There is much more focus on corporate responsibility sustainable development and stakeholder engagement. There is an organization call</span><span style="font-family: "trebuchet ms" , sans-serif;"> </span><a href="http://www.accountability.org/about-us/index.html" style="font-family: "trebuchet ms", sans-serif;" target="_blank">AccountAbility</a> <span style="font-family: "trebuchet ms" , sans-serif;">that is dedicated to helping organizations improve their corporate responsibility and sustainable development. They have developed a range of documents covering stakeholder engagement.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Yes there is a <a href="http://www.accountability.org/services/stakeholder.html" target="_blank">Stakeholder Engagement Standard</a> developed by AccountAbility. In the standard are some great tips on the development of successful stakeholder engagement. There is a <a href="http://www.accountability.org/images/content/4/8/489/Stakeholder%20Engagement_Practitioners'%20Perspectives[1].pdf" target="_blank">Stakeholder Engagement Manual</a>. The same group have provided a <a href="http://www.accountability.org/images/content/3/1/318/Critical%20Friends_StakeholderPanels_report.pdf" target="_blank">free pdf download</a> on creating Stakeholder Panels as part of the corporate governance. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Admittedly the material is aimed at corporate level stakeholder engagement. But much of it is applicable to Programmes and Projects (which are temporary organizations to enable change). </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">So What?</span></h3>
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<span style="font-family: "trebuchet ms" , sans-serif;">As the research clearly shows stakeholders are having a significant impact on the outcome of any project so I suggest you up your game on stakeholder engagement by the following:</span></div>
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<li><span style="font-family: "trebuchet ms" , sans-serif;">Follow the MSP six steps to engage with your stakeholders</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Use the Stakeholder Engagement Standard as a guide </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Review the Stakeholder Engagement Manual to improve your understanding of Stakeholder Engagement and how to introduce it into an organization</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Consider using Stakeholder panels approach in your larger programmes / projects</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Review the useful links below for further insights into planning and executing stakeholder engagement.</span></li>
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<span style="font-family: "trebuchet ms" , sans-serif;">In my experience improving the stakeholder engagement in your project will help to make it successful. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">I would be more than happy to discuss any aspects of this post.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><i><span style="color: #20124d; font-size: large;">May all your milestones be met!</span></i></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Useful Links to downloads</span></h2>
<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.bsr.org/reports/BSR_Five-Step_Guide_to_Stakeholder_Engagement.pdf" target="_blank">BSR 5 Step Model</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://www2.deloitte.com/content/dam/Deloitte/za/Documents/governance-risk-compliance/ZA_StakeholderEngagement_04042014.pdf" target="_blank">Deloitte - Stakeholder Engagement</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://prince2.wikidot.com/stakeholders" target="_blank">PRINCE2 - Stakeholders </a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/31978/10-1256-guidelines-for-programme-management.pdf" target="_blank">UK Government 2010 Managing Successful Programmes - Including some text on stakeholder engagement</a></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/69208/smpg-vol2-appa.pdf" target="_blank">UK Government Stakeholder Engagement Strategies</a> (</span><span style="background-color: white; color: #545454; font-family: "arial" , sans-serif; font-size: x-small; line-height: 18.2px;">Strengthening Performance Management in </span><span style="background-color: white; color: #6a6a6a; font-family: "arial" , sans-serif; font-size: x-small; font-weight: bold; line-height: 18.2px;">Government)</span><br />
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Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-67437275616496971492016-08-21T10:08:00.001-04:002016-08-23T05:51:58.472-04:00Back to the Future for tips on stakeholders and other puzzling influences!<div class="" style="clear: both; text-align: left;">
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnuRFXGRAGelqOP_2SDOZIF7A1Z6Ix3rM6dhJ_w3s8sxMab1uMnhr-oXNa691z5pBe3q5tmyRGPYSw0GBB3VYrf9_5pTSnFg2FpBYI9n2r5AsWZsao6WCqWwjcvxxMr7uYQxy9uHsg5eM/s1600/JIgsaw+puzzle.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="213" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgnuRFXGRAGelqOP_2SDOZIF7A1Z6Ix3rM6dhJ_w3s8sxMab1uMnhr-oXNa691z5pBe3q5tmyRGPYSw0GBB3VYrf9_5pTSnFg2FpBYI9n2r5AsWZsao6WCqWwjcvxxMr7uYQxy9uHsg5eM/s320/JIgsaw+puzzle.jpg" width="320" /></a></div>
<span style="font-family: "trebuchet ms" , sans-serif;">In 1985 I left the British Army to start a new civilian career in a recession hit UK (I am known for taking a risk). I managed to get re-trained as a computer programmer (COBOL) and so began my second career in the IT world. </span><span style="font-family: "trebuchet ms" , sans-serif;">I moved quickly through up to leading teams and then to Project Management. I was fortunate enough to be introduced to the </span><a href="http://www.open.ac.uk/" style="font-family: "trebuchet ms", sans-serif;" target="_blank">Open University</a> (<span style="font-family: "trebuchet ms" , sans-serif;">OU</span>)<span style="font-family: "trebuchet ms" , sans-serif;"> to gain a civilian education (I joined the Army aged 16). </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br />In 1991 I enrolled on one of the best OU courses I ever undertook. It was titled "PT621 Introducing New Technology", it introduced me to the concept of change management and stakeholders / Influences on the project / programme of change.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span><span style="font-family: "trebuchet ms" , sans-serif;">In this blog entry I want to look to back to remind myself, and present to you of some of those ideas around identifying stakeholders and other influences on the project environment that are still relevant in this the future.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">External Influences</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">These two figures recreated from the course material clearly identifies the external and internal influences on an initiative. These types of diagrams are typically much broader than we now think. Today we primarily focus on stakeholder groups, who they are, and how they influence or could potentially impact on our initiatives. </span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2f9CaCZ0MtfJboEQ6BFNcl8h_hvlqT1T71Akmjd5cOpKN7dF4b1qO0py75sGjjbb3KNVj6wQ-KQ03Sbw3VaQDbfMyzPaZHWborb0ctqR8m4MN-wg93h6MUFwk0mST0_gYIvGZUyRsC9E/s1600/External+Influences.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh2f9CaCZ0MtfJboEQ6BFNcl8h_hvlqT1T71Akmjd5cOpKN7dF4b1qO0py75sGjjbb3KNVj6wQ-KQ03Sbw3VaQDbfMyzPaZHWborb0ctqR8m4MN-wg93h6MUFwk0mST0_gYIvGZUyRsC9E/s1600/External+Influences.png" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "trebuchet ms" , sans-serif; text-align: left;"><b>Figure 1 - External Influences on a Programme / Initiative</b></span><br />
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<span style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: small;"><br />I like the way the diagram (Fig1) links stakeholder groups with other overlapping influences in the external environment to help build a rich picture of what the situation is really about. </span></span><br />
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<span style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">Working with the team to identify this influence mapping of external influences will help them gain a richer understanding of what the potential risks could be around. It also helps them to start thinking about stakeholder engagement and how this knew knowledge will impact our stakeholder engagement plan.</span></span><br />
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<span style="text-align: left;"><span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">Explore the strength of the influence in terms of how it could impact our programme or projects. Add the identified negative and positive influences into your risk register, and work on mitigation activities or activities designed to ensure the positive influences are enhanced.</span></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">Internal Influences</span></span></h3>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">Once you have identified the external influences you can switch the team into examining the internal influences in a similar way. The team will start to think broader than stakeholders as just simple lists of groups of people who might impact the project. I like the way the diagram in Figure 2 links those stakeholder groups from the external environment as overlapping and influencing the internal environment. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">I also like the way it includes other influences on the project from other business activities such as feasibility studies, training, new technology etc...</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: small;">Again this builds a richer picture of what the situation/environment the project is going to exist in. </span></div>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv5_o2njunmSCHDh0vhQN5AaKMhP8o_2W9a-d-vjfAxLuLvnyVCKidPtkK4k_1I3INJf4Uwm1ZPgzSgXp2t5HL8lVT2f1t3pY3SP_o_67_tiDPuNA9_yCFq_iCiLEZRNXegnKdzp3zQNQ/s1600/Internal+Influences.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="470" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjv5_o2njunmSCHDh0vhQN5AaKMhP8o_2W9a-d-vjfAxLuLvnyVCKidPtkK4k_1I3INJf4Uwm1ZPgzSgXp2t5HL8lVT2f1t3pY3SP_o_67_tiDPuNA9_yCFq_iCiLEZRNXegnKdzp3zQNQ/s640/Internal+Influences.png" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b><span style="font-family: "trebuchet ms" , sans-serif;">Figure 2: Internal Influences on the Programme / Initiative</span></b></td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms" , sans-serif;">I am sure you are looking at both these images and thinking of even more groups or external influences on your project. Use them with your team to identify those influences, and identify the activities to reduce risk, or enhance the opportunities of success. </span><br />
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<h3>
<span style="font-family: "trebuchet ms" , sans-serif;">So What?</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">In today's world our project environments are more daunting than ever. There are more interdependencies than ever before. More risk, more complexity in stakeholder engagement, more potential impacts by different aspects of the environment your project is sitting within.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">While it is impossible to prepare for every eventuality, perhaps this revisit to a past style of Influence Diagramming will help your team be better prepared with an increased understand of the potential impacts on the project. It could help to improve your stakeholder engagement and risk planning reducing the chances of project failure.</span><br />
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<br />Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com2tag:blogger.com,1999:blog-2757424062369305060.post-80359201025960449762016-08-06T07:53:00.002-04:002016-08-06T07:53:22.900-04:00Portfolio Management - Review 2 (PMI's The Standard for Portfolio Management)<span style="font-family: "trebuchet ms" , sans-serif;">In previous posts I considered:</span><br />
<ul style="background-color: white; color: #333333; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14.85px; line-height: 20.79px; margin: 0.5em 0px; padding: 0px 2.5em;">
<li style="border: none; margin: 0px 0px 0.25em; padding: 0px;"><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;"><a href="http://pm-net.blogspot.ca/2016/06/what-is-this-thing-called-portfolio.html" rel="nofollow" target="_blank">What is Portfolio Managemen</a>t</span></li>
<li style="border: none; margin: 0px 0px 0.25em; padding: 0px;"><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;"><a href="http://pm-net.blogspot.ca/2016_07_01_archive.html" rel="nofollow" target="_blank">Management of Portfolios(MoP) – OGC (now Axelos)</a></span></li>
</ul>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">This is the final post in this series on Portfolio Management. It will contain the review of the Project Management Institute's(PMI) Portfolio Management Standard, and I will provide some links to references and research papers I have found useful in developing my understanding.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">I have an admission (if it is really that), I was a member on the PPMS core team that developed the first PMI Portfolio Management Standard 2005-2006. You will find my name on page 167 Section X2.9.1 in Appendix 2. The same core team also worked on the 1st edition of the Program Management Standard.</span><br />
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<div class="separator" style="clear: both; text-align: center;">
<a href="http://www.pmi.org/pmbok-guide-standards/foundational" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;" target="_blank"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgbxZG3V9_BLxaH9Rb7XEsbxwgUhmpmGZLnxK2csjK9VUrvr8XGMD6S3VHD3S79GEflJjdF3u0xCCsj6fl98ssE3Ywh3ZnPsRfVlw6u3PlS_GatJ2n7X37uoN6inDQuK8-kKIdGqcoRou0/s200/portfolio-management-standard-3rd-edition.jpg" width="153" /></a></div>
<span style="font-family: "trebuchet ms" , sans-serif;">The third edition of the Standard for Portfolio Management has developed considerably from those early days. The first edition had three chapters </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">If you care to look at Appendix X2 you will find some of the reviewers for this edition were involved in building the first edition so there is continuity of thought and ideas.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">This post will examine the <a href="http://www.pmi.org/pmbok-guide-standards/foundational" target="_blank">PMI Standard for Portfolio Management </a>and how it can aid organizations in adopting Portfolio Management as part of their strategic delivery process.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;"><i style="background-color: yellow;"><b>Note all figures and images in this post are copyright of the Project Management Institute. </b></i></span><br />
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<a name='more'></a><h3>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">Structure of the Standard</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">The standard follows the same basic structure of all PMI standards, with the first three chapters setting the context and the high level processes </span><span style="font-family: "trebuchet ms" , sans-serif;">for the standard</span><span style="font-family: "trebuchet ms" , sans-serif;">.</span></div>
<div>
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Purpose</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Overview, organization / lifecycle</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Processes and groups</span></li>
</ol>
<ul><span style="font-family: "trebuchet ms" , sans-serif;">
</span></ul>
<span style="font-family: "trebuchet ms" , sans-serif;">Chapters 4-8 provide the details on five identified knowledge areas for Portfolio Management:</span></div>
<div>
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Portfolio Strategic Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Portfolio Governance Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Portfolio Performance Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Portfolio Communication Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Portfolio Risk Management</span></li>
</ol>
<ol></ol>
<ol></ol>
<ol></ol>
</div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">Followed by </span><span style="font-family: "trebuchet ms" , sans-serif;">appendixes, references (only reference other PMI publications, which is a pity) and a glossary. Plus usual lists of figures and tables etc...</span></div>
<div>
<ul><span style="font-family: "trebuchet ms" , sans-serif;">
</span></ul>
<span style="font-family: "trebuchet ms" , sans-serif;">
</span></div>
<h3>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: large;">Chapter 1 Purpose</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">The purpose of the Standard for Portfolio Management is clearly defined in Chapter 1 section 1.1. It is to identify Portfolio Management processes that are generally recognized as good practices. It also seeks to provide a common vocabulary for discussions, writing and applying portfolio management concepts. It also identifies that it is interconnected with the Standard for Program Management and the Guide to Project Management (PMBOK</span><span style="font-family: "calibri" , sans-serif; line-height: 107%;">®</span><span style="line-height: 107%;"><span style="font-family: "trebuchet ms" , sans-serif;">Guide</span></span><span style="font-family: "calibri" , sans-serif; line-height: 107%;">).</span><br />
<span style="font-family: "calibri" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">This chapter very usefully defines the following:</span><br />
<div class="MsoNormal">
</div>
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Purpose
of The Standard for Portfolio Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">What is
a Portfolio?</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">What is
Portfolio Management?</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Relationships
between Portfolio Management, Program Management, Project Management, and
Organizational Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Portfolio
Management and Organizational Strategy</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Business
Value</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Portfolio
Component Management Relationships</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Role of
the Portfolio Manager</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Role of
the PMO in Portfolio Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">Portfolio
Management Body of Knowledge</span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">
</span><br />
<h3>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: large; line-height: 107%;">Chapter 2 Overview </span></h3>
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</div>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">Chapter 2 puts portfolio management into context with the organizational strategy similar to Chapter 3 in MoP. It identifies the relationship between Portfolio Management and strategic planning.</span><br />
<div style="-webkit-text-stroke-width: 0px; color: black; font-family: "Times New Roman"; font-size: medium; font-style: normal; font-variant: normal; font-weight: normal; letter-spacing: normal; line-height: normal; orphans: auto; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 1; word-spacing: 0px;">
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<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;"><br /></span></span></div>
<div style="margin: 0px;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;">The chapter identifies that the Portfolio Lifecycle is a continuous one much like the Management of Portfolios (MoP) guidance. </span></span></div>
<div style="margin: 0px;">
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;"><br /></span></span></div>
</div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">There are sections on implementing portfolio management, portfolio management information systems.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">Overall much of what is in Chapter 2 covers similar ground as the MoP and provides another useful perspective on the links between Portfolio Management and the organization.</span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;"><br /></span></span></div>
<h3>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: large; line-height: 107%;">Chapter 3 Process Groups</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">This is the heart of any PMI Standard, they are process centric and provide significant amount of detail on the processes within the standard. The illustration below identifies the Three Process Groups and their interactions.</span><br />
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Defining</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Aligning</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Authorizing and Controlling</span></li>
</ol>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The figure below clearly shows the linkages between the organization strategy and other assets. Plus the interlinking of the Portfolio Management Process with Project, Programmes and other work.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEY1tBRkHflohgCKJUFytaLEGwQ566ydTfEaq2RxOt3fyV2aMgKfHNrdJyF7v8BNFFx9jB3jW_E_8jQyGpW8oBqGQhOCiqw944phyphenhyphenGvYFsFJOPIjBJaZcJMJXanJuqDMIxtB5cxKN3wb4/s1600/PT_MAN+PROCESS+GROUPS.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiEY1tBRkHflohgCKJUFytaLEGwQ566ydTfEaq2RxOt3fyV2aMgKfHNrdJyF7v8BNFFx9jB3jW_E_8jQyGpW8oBqGQhOCiqw944phyphenhyphenGvYFsFJOPIjBJaZcJMJXanJuqDMIxtB5cxKN3wb4/s640/PT_MAN+PROCESS+GROUPS.jpg" width="532" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span class="b24-hit" style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;">Portfolio</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;"> </span><span class="b24-hit" style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;">Management</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;"> Process Group Interactions</span></td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Each of the process groups is broken down into the constituent sub processes linked with their inputs and outputs. These are cross referenced with the five knowledge areas.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<br />
<h3>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: large; line-height: 25.68px;">Knowledge Areas</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">Like other PMI Standards, the Portfolio Management standard makes use of Knowledge areas as a mechanism to group theory and practice within Portfolio Management. They link the themes that define how to get things done when managing portfolios. </span></div>
<div>
</div>
<br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"></span><br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1DWCGv-D7q4AJRbRX1YxgajIyJYASzJpFrkVsqT1e2EmQfzz2qMT1AQH58LIrweyMjB_g-fVHrAO3sT7RB5olsJvXq0EFxu7WXYZJQlpCY-4iCv1lo2-DTXa-j663zik2zsYTX_S5YSA/s1600/PtM-process+Groups.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="125" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj1DWCGv-D7q4AJRbRX1YxgajIyJYASzJpFrkVsqT1e2EmQfzz2qMT1AQH58LIrweyMjB_g-fVHrAO3sT7RB5olsJvXq0EFxu7WXYZJQlpCY-4iCv1lo2-DTXa-j663zik2zsYTX_S5YSA/s640/PtM-process+Groups.jpg" width="640" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Portfolio Management Process Groups cross-referenced with Knowledge Areas</td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Each knowledge area contains details of the processes within it for example Chapter 4 Portfolio Strategic Management identifies the processes within it (as shown in figure 2 above) and provides a high level graphic. </span><br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhazrPiZy1gIU02sAxXv3czwH8lMRLjcZLroQ5kdUlHwDHK_aou1RyKooPikDQ-h53ultS6O_ZRVtt3WVj8_0qNisgavc_PPcoCLbpDT9F7Jo2WMFqOOJGl21bOHN2BdXOoLlNVuCxzMKw/s1600/Strategic+Portfolio+Management.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="640" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhazrPiZy1gIU02sAxXv3czwH8lMRLjcZLroQ5kdUlHwDHK_aou1RyKooPikDQ-h53ultS6O_ZRVtt3WVj8_0qNisgavc_PPcoCLbpDT9F7Jo2WMFqOOJGl21bOHN2BdXOoLlNVuCxzMKw/s640/Strategic+Portfolio+Management.jpg" width="532" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><b><span class="b24-hit" style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;">Portfolio</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;"> Strategic </span><span class="b24-hit" style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;">Management</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small; text-align: left;"> Overview</span></b></td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">These are broken down further with a section on each of the 4.x processes, with great detail on each of the bulleted items in the list. For example 4.1.1 Develop Strategic Portfolio Plan has sub sections for inputs, tools and techniques and outputs. Such '4.1.1.1 Organizational Strategy and Objectives' that defines what that means and perhaps what it is composed of or how it is derived. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Each section also provides a data flow diagram (non standard diagramming technique - I believe it was invented by PMI - surely there are standards that could have been adopted?). The data flow diagram provides the information on how all the inputs and outputs connect to create a consist set of processes. See the example below.</span><br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpUhsaqwb9lT8sq2K_92CVwvis5gcutKhBdtU3Vo3HIYonvE_NMJXjQ0hyphenhyphenhkNRSeUxjGGRXzluGGdQ9pu61Y9XzkIcXYHD5b7KE10OT7RwjcewiMskB6YqLZFLFpl2SioTKGdzXaIjdyk/s1600/PortMngtPlan+Data+flow.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="619" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjpUhsaqwb9lT8sq2K_92CVwvis5gcutKhBdtU3Vo3HIYonvE_NMJXjQ0hyphenhyphenhkNRSeUxjGGRXzluGGdQ9pu61Y9XzkIcXYHD5b7KE10OT7RwjcewiMskB6YqLZFLFpl2SioTKGdzXaIjdyk/s640/PortMngtPlan+Data+flow.jpg" width="640" /></a></div>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;"><span style="background-color: yellow;">I have always admired the inputs, techniques, outputs design</span><span style="background-color: white;">, a</span>s it provides the reader with the thinking of the authors and editors around what techniques used or associated with this process. This is extremely valuable information for the budding Portfolio Manager!</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">This approach to linking knowledge areas to processes with the data flow diagrams also provides a blueprint for the creation of organizational standard processes. Enabling consistency and the opportunity to train and develop teams. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<br />
<h2>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;">Conclusion</span></span></h2>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The Standard for Portfolio Management is a valuable contribution to the Project Management world. It provides some process rigour and details on how the knowledge areas and process fit together that can form the basis for organizational design in establishing a Portfolio Management function.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The standard enables consistent training of the subject, I haven't talked around certification but sufficient to say there is certification available.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Similar to the way in which PRINCE2 and the PMI PMBoK complement each other so to does the Standard for Portfolio Management and Management of Portfolios. Each brings a different aspect of the subject that provides valuable input into the subject and adoption of Portfolio Management.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><span style="background-color: yellow;">The PMI provides some great research to add more value to their standards</span>. I recommend a trip to their <a href="http://www.pmi.org/learning/thought-leadership/series/portfolio-management" target="_blank">Thought Leadership page</a> where they have an excellent series of white papers on Portfolio Management designed to help you communicate its value and assist adoption.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span>
<span style="font-family: trebuchet ms, sans-serif;"><span style="line-height: 17.12px;">Craig Kilford has written a white paper comparing both publications. It is worth reading to gain another perspective on the two. (see further information link below) </span></span><br />
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<h3>
<span style="font-family: "calibri" , sans-serif; font-size: 24px; line-height: 25.68px;">Further Information</span></h3>
<h4>
<span style="font-family: "calibri" , sans-serif;">Axelos</span></h4>
<span style="font-family: "calibri" , sans-serif;"><span style="font-family: Trebuchet MS, sans-serif; line-height: 25.68px;"><a href="https://www.axelos.com/case-studies-and-white-papers/mop-and-pmis-portfolio-guidance" target="_blank">Portfolio Management comparison of MoP and PMI</a></span></span><br />
<span style="font-family: Trebuchet MS, sans-serif;"><a href="https://www.axelos.com/case-studies-and-white-papers/how-to-implement-mop-within-100-days-case-study" target="_blank">How to implement Management of Portfolios within 100 days</a></span><br />
<h4>
<span style="font-family: "calibri" , sans-serif; line-height: 107%;">PMI</span></h4>
<span style="font-family: Trebuchet MS, sans-serif; line-height: 107%;"><a href="http://www.pmi.org/learning/thought-leadership/series/portfolio-management" target="_blank">Thought leadership series on Portfolio Management</a> </span><br />
<span style="font-family: "calibri" , sans-serif; font-size: 18pt; line-height: 107%;"><br /></span>
<span style="font-family: "calibri" , sans-serif; line-height: 107%;"><span style="background-color: yellow;">If you are a member of PMI you can access more research and papers on Portfolio Management</span></span>
<span style="font-family: "calibri" , sans-serif; font-size: 18pt; line-height: 107%;"><br /></span>
<span style="font-family: "calibri" , sans-serif; font-size: 18pt; line-height: 107%;"><br /></span>
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Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0Fredericton, NB, Canada45.9635895 -66.64311509999998945.786931499999994 -66.965838599999984 46.1402475 -66.3203916tag:blogger.com,1999:blog-2757424062369305060.post-68956467768210071182016-07-27T06:09:00.006-04:002016-08-03T05:41:42.741-04:00Portfolio Management – Review 1 (MoP)<span style="font-family: "trebuchet ms" , sans-serif;">The
three reference books identified on the previous post have their own process
models</span><br />
<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; tab-stops: list 36.0pt; text-indent: -18.0pt;">
</div>
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Management
of Portfolios(MoP) – OGC (now Axelos)</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Portfolio
Management Standard (PMI)</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 15.6pt; text-indent: -18pt;">The
Wiley Guide to Project, Program and Portfolio Management</span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif;">Over the next two posts I will review parts of the two main publications and include thoughts from the Wiley Guide.</span><br />
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">We can
explore the models for similarities and differences, not to chose one model as
the only path to Portfolio Nirvana, but rather to look at the practices and processes that
will fit within our own organizations and business environments.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;">I am not
seeking to cause process chaos by proposing a cut and paste from different models, but simply to help people understand that they
do not need to become a slave to one model. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<a href="https://www.axelos.com/Corporate/media/Images/Website%20Assets/Book%20covers/Management-of-Portfolios-for-web.jpg?width=168&height=200&ext=.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="https://www.axelos.com/Corporate/media/Images/Website%20Assets/Book%20covers/Management-of-Portfolios-for-web.jpg?width=168&height=200&ext=.jpg" /></a><span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 107%;">They can legitimately choose a core model to
adopt as a guiding philosophy for their portfolio management approach and then
utilize concepts / processes from other models to tuning to suit the business
environment, creating their ideal for their organization</span>.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">This post will explore the <a href="https://www.axelos.com/best-practice-solutions/mop/what-is-mop" target="_blank">Management of Portfolios (MoP) Manual from Axelos,</a> originally developed with the Office of Government Commerce in the UK.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: x-small;"><span style="background-color: white; font-family: "newsgothic" , sans-serif; line-height: 25px;">"MoP</span><span style="background-color: white; box-sizing: border-box; font-family: "newsgothic" , sans-serif; line-height: 0; position: relative; top: -0.5em; vertical-align: baseline;">®</span><span style="background-color: white; font-family: "newsgothic" , sans-serif; line-height: 25px;"> is a (registered) Trade Mark of AXELOS Limited. All rights reserved"</span></span></span><span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;">All figures and images in this post are copyright of AXELOS Limited</span></div>
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<a name='more'></a><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "georgia" , "times new roman" , serif; font-size: large;"><b>Management of Portfolios</b></span></span><br />
<h2>
<o:p></o:p></h2>
<div>
<span style="font-family: "trebuchet ms" , sans-serif; font-weight: normal;"><span style="line-height: 107%;">The
Management of Portfolios manual is a comprehensive guide covering Portfolio Management. With its principles, practices and guidance it </span></span><span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">is a philosophy for Portfolio Management that can be used to adopt and </span><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">sustain Portfolio Management.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The Manual published in 2011 consists of seven chapters, six appendices and references.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Chapters 1 - 3 introduce Portfolio Management and the organizational context for it</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Chapter 4 Introduces the five principles of Portfolio Management </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Chapter 5 Defines two Portfolio Cycles</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Chapter 6 Defines the Portfolio Definition Practices</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Chapter 7 Defines the Portfolio Delivery Practices</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 107%;"><span style="font-family: "trebuchet ms" , sans-serif;">The six appendices provide a range of topics from roles and
responsibilities,portfolio
documentation, guidance on assessing the health to the impact of
Portfolio Management</span></span><span style="font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 107%;">.</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 107%;"><br /></span></span>
<br />
<h3>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "georgia" , "times new roman" , serif; font-size: large; line-height: 107%;">Organizational Context</span></span></h3>
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;">Chapter 3 explores the relationship between Portfolio Management and the business. It exams the linkages between Business as usual (BAU).</span><br />
<span style="font-family: "trebuchet ms" , sans-serif; line-height: 17.12px;"><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></span>
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<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: right; margin-left: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtbiF_NzeVi77hxEdTA4TbQjyuaP7gwxfB5spKzC1hFIwySKsB7AyXzUHe10QiRl-eGD5D7qy9Wj8fDnuPzcPTLcz_0m0BN1fX9Bh02mg474CzQG7lA9pqq97hwsglj_xuybiKRxU1PNo/s1600/ch003_Grow-Run.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="162" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjtbiF_NzeVi77hxEdTA4TbQjyuaP7gwxfB5spKzC1hFIwySKsB7AyXzUHe10QiRl-eGD5D7qy9Wj8fDnuPzcPTLcz_0m0BN1fX9Bh02mg474CzQG7lA9pqq97hwsglj_xuybiKRxU1PNo/s200/ch003_Grow-Run.jpg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "trebuchet ms" , sans-serif;">Figure 1. "Run the Business, Change the Business"</span></td></tr>
</tbody></table>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The combining of operational work and Portfolio Management delivering Strategic Objectives. </span></span><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Portfolio Management organizing the delivery of major changes and BAU delivering the services and tactical continuous improvements. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">Portfolio Management doesn't seek to replace strategic and business planning but it supports it with optimal resource allocation and balance.</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The diagram in Figure 2. outlines the two way interactions between Strategic Planning and the Portfolio Management function in the organization.</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjhefgsP4GyoCD6zorKedCL0mDWWz8taEjncC_5gbHYt42ImMXju1B84bqf7Q-72zp5wu5Ukj_In1WECTqV7FMX3nHfde5j2b2fqjq8Xp1cLgbUwqWmFtuy1Wgyq5PEv0nKOC9KfJeCjg/s1600/Strat+Plan-Portfolio.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="221" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgjhefgsP4GyoCD6zorKedCL0mDWWz8taEjncC_5gbHYt42ImMXju1B84bqf7Q-72zp5wu5Ukj_In1WECTqV7FMX3nHfde5j2b2fqjq8Xp1cLgbUwqWmFtuy1Wgyq5PEv0nKOC9KfJeCjg/s400/Strat+Plan-Portfolio.png" width="400" /></a></div>
<div class="separator" style="clear: both; text-align: center;">
<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;">Figure 2 <span style="background-color: white;">Strategic planning and portfolio management</span></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;">The Portfolio Definition cycle with its practices is clearly linked to the strategic and business planning processes </span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 107%;"><br /></span></span></div>
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Process Model</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">The MoP process model consists of two process groups:</span></div>
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<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;"><span style="text-indent: -18pt;">Portfolio Definition</span></span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 10pt; line-height: 107%; text-indent: -18pt;"><span style="font-size: 7pt; font-stretch: normal; line-height: normal;"> </span></span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Portfolio Delivery</span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif;">Each have their own set of processes and practices.</span><br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh63qFd3YEQ40bCPEqz01tFnMryoM5PhOgsNCGmLnrSgb0y4EJ4_2yG7hKgbyGDOu4sZu3ajsssucilcosYEqhblQ3aSDPt1GcQrpJo5Ev88Joiv7oZO2NER0V67k3lwdmT7vasCAscppc/s1600/MoP+Processes.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEh63qFd3YEQ40bCPEqz01tFnMryoM5PhOgsNCGmLnrSgb0y4EJ4_2yG7hKgbyGDOu4sZu3ajsssucilcosYEqhblQ3aSDPt1GcQrpJo5Ev88Joiv7oZO2NER0V67k3lwdmT7vasCAscppc/s1600/MoP+Processes.jpg" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "calibri" , sans-serif; font-size: 11.0pt; line-height: 107%;">Figure 3</span><span style="font-family: "calibri" , sans-serif; font-size: 11pt; line-height: 107%;"> Portfolio Management Model - Management of
Portfolios </span><a href="http://skillport.books24x7.com/books.aspx?imprintid=1091" style="font-family: verdana, arial, helvetica, sans-serif; font-size: 11px; outline: none; text-align: start; text-decoration: none;"><span class="b24-bookimprint" id="b24-bookimprint-42514" style="color: #333333; font-size: 9px;">TSO, Ltd</span></a><span class="b24-bookcwdate" id="b24-bookrights-42514" style="color: #666666; font-family: "arial" , "verdana" , sans-serif; font-size: 9px;"> © 2011</span></td></tr>
</tbody></table>
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<span style="font-family: "trebuchet ms" , sans-serif;">For the MoP, Portfolio Management doesn’t have a distinct start or end, it is a continuous cycle of Portfolio definition cycle combined with a Portfolio Delivery cycle
that continues never ending. In the manual this is shown other diagrams by using a Mobius strip
image to indicate there are no boundaries in the process.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Principles</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">Similar to all the Axelos Best Management Practices, MoP is based on a set of guiding principles that have been shown through research to increase the likelihood of success. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">These
principles provide the foundation for the <u>organizational environment</u> for Portfolio Management. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">The five principles are:</span></div>
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<div class="MsoListParagraphCxSpFirst" style="mso-list: l0 level1 lfo1; text-indent: -18.0pt;">
</div>
<ol>
<li><span style="text-indent: -18pt;"><span style="font-family: "trebuchet ms" , sans-serif;">Senior Management Commitment</span></span></li>
<li><span style="text-indent: -18pt;"><span style="font-family: "trebuchet ms" , sans-serif;">Governance alignment</span></span></li>
<li><span style="text-indent: -18pt;"><span style="font-family: "trebuchet ms" , sans-serif;">Strategy alignment</span></span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: 7pt; font-stretch: normal; text-indent: -18pt;"> </span><span style="text-indent: -18pt;">Portfolio Office</span></span></li>
<li><span style="text-indent: -18pt;"><span style="font-family: "trebuchet ms" , sans-serif;">Energized change culture</span></span></li>
</ol>
<span style="font-family: "trebuchet ms" , sans-serif;">Each principle is defined in detail in Chapter 4, the definitions are clearly written from a business management perspective. <span style="background-color: #fff2cc;">For each principle there is a very useful small case study defining the target situation describing how the principle has been applied</span>.</span><span style="font-family: "trebuchet ms" , sans-serif;"></span><br />
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</span>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">
The MoP identifies and defines two portfolio cycles:</span></div>
<div class="MsoNormal">
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Portfolio
Definition</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Portfolio
Delivery</span></li>
</ol>
</div>
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<!--[if !supportLists]--><span style="font-family: "trebuchet ms" , sans-serif;"><o:p></o:p>
</span><br />
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<o:p></o:p></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Each portfolio cycle is supported by a set of identified practices
within it (see Figure 1).<o:p></o:p></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><o:p></o:p></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">Because Portfolio Management doesn’t have a distinct start
or end, but the two cycles of Portfolio definition cycle combined with a
Portfolio Delivery cycle often the diagram within MoP is shown by using a
Mobius strip image to indicate there are no boundaries in the process.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Organization Energy</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">The interconnection between Portfolio Definition and Portfolio Delivery is based on the UK's National Health Service </span><span style="background-color: white;"><span style="font-family: "trebuchet ms" , sans-serif;">Institute for Innovation and Improvement definition of Organizational energy as </span></span><span style="background-color: #fff2cc; font-family: "trebuchet ms" , sans-serif;">'the extent to which an organization has mobilized the full available effort of its people in pursuit of its goals'.</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"> </span><span style="background-color: white;"><span style="font-family: "trebuchet ms" , sans-serif;"> The section defining organizational energy recognises the need for organizations to mobilise their workforce to deliver the defined portfolio. Strategy without delivery is just an exercise in delusional thinking.</span></span><br />
<span style="background-color: white;"><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></span>
<br />
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Practices</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">"</span><span style="background-color: white; color: #545454; font-family: "arial" , sans-serif; line-height: 18.2px;">A </span><span style="background-color: white; color: #6a6a6a; font-family: "arial" , sans-serif; font-weight: bold; line-height: 18.2px;">best practice</span><span style="background-color: white; color: #545454; font-family: "arial" , sans-serif; line-height: 18.2px;"> is a method or technique that has been generally accepted as superior to any alternatives because it produces results that are superior to those achieved by other means"</span><br />
<span style="background-color: white; color: #545454; font-family: "arial" , sans-serif; font-size: x-small; line-height: 18.2px;"><br /></span><span style="background-color: white; line-height: 18.2px;"><span style="font-family: "trebuchet ms" , sans-serif;">Chapters 6 and 7 provide sections with details on the practices in both the Portfolio Management cycles. These are comprehensive definitions and include identifying keys to success for each practice, documenting the key with an associated explanation of the key to success. Finally each section is very usefully rounded out with one or more short examples of how the practice can be put into use.</span></span><br />
<span style="background-color: white; line-height: 18.2px;"><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></span>
<span style="background-color: white; line-height: 18.2px;"><span style="font-family: "trebuchet ms" , sans-serif;">We saw on Figure 2 how the practices in the Portfolio Definition cycle interact with the Strategic Planning process. Some of the practices within the Portfolio Delivery cycle are based on well defined best practices that can be accessed in other frameworks, or perhaps your own organization has a set already defined. If not some of these can be found:</span></span><br />
<br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 18.2px;">Risk Management - <span style="font-size: x-small;">See <a href="https://www.axelos.com/best-practice-solutions/mor/what-is-mor" rel="nofollow" target="_blank">Management of Risk</a> </span></span></span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 18.2px;">Benefits Management<span style="font-size: x-small;">- See <a href="https://www.axelos.com/best-practice-solutions/msp/what-is-msp" rel="nofollow" target="_blank">Managing Successful Programmes</a> or <a href="http://www.apmg-international.com/en/qualifications/managing-benefits/managing-benefits.aspx" rel="nofollow" target="_blank">Benefits Management</a> </span></span></span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 18.2px;">Stakeholder Engagement </span><span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small; line-height: 18.2px;">- See </span><a href="https://www.axelos.com/best-practice-solutions/msp/what-is-msp" rel="nofollow" style="font-family: "trebuchet ms", sans-serif; font-size: small; line-height: 18.2px;" target="_blank">Managing Successful Programmes</a></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; line-height: 18.2px;">Resource Management - </span></li>
<ul>
<li><span style="font-size: x-small;"><span style="font-family: "trebuchet ms" , sans-serif; line-height: 18.2px;">the only reference I have found for this is a book by Jerry Manas <a href="https://www.amazon.ca/Resource-Management-Capacity-Planning-Handbook/dp/007183625X" rel="nofollow" target="_blank">"</a></span><span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 18.2px;"><a href="https://www.amazon.ca/Resource-Management-Capacity-Planning-Handbook/dp/007183625X" rel="nofollow" target="_blank">The Resource Management and Capacity Planning Handbook"</a></span></span></span></li>
</ul>
</ul>
<div>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;"><br /></span></div>
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Appendices</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">I find the appendices are where the authors have added extremely valuable sets of information they discovered along the way and couldn't include in the core of the book because of constraints in page count or time to write the information down to the same level of detail as required in the main body. </span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">This manual is the same, the appendices are a rich set of further tools, thoughts and defined processes to supplement the Portfolio Management function.</span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">If you take these along with the Axelos best practices for <a href="https://www.axelos.com/best-practice-solutions/p3m3/what-is-p3m3" rel="nofollow" target="_blank">P3M3®</a> Maturity model then you have a significant set of information to support your Portfolio Management function.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
</div>
</div>
<div class="MsoNormal">
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Wiley Guide to Project, Program and Portfolio Management</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">The Wiley guide was published in 2007 and pre-dates Management of Portfolios it doesn't really compare to the more modern Portfolio Management frameworks. </span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">However chapter five on Portfolio Management is primarily focuses on Project Selection for the Portfolio. providing a process model developed by Archer and Ghasemzadeh in 1999 that helps in explaining the process of selection. The concept of a 'project hopper' where projects are pre-screened before entering into the more detailed task of detailed analysis (developing business cases)</span></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg868bz_ims4_05V7lwXXGoh5B5XgveHzm0i4MMcrp32zZH0EcB2_FOkhun3RzZHftKq8asfzH1Tp9qzdMFE_9C6utZT0P_wmslelUV0aq_Wo2FDGvPiD7LrgvVJ_vuGm8UUYixyzn8dtw/s1600/Strategy-delivery+sml.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="282" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg868bz_ims4_05V7lwXXGoh5B5XgveHzm0i4MMcrp32zZH0EcB2_FOkhun3RzZHftKq8asfzH1Tp9qzdMFE_9C6utZT0P_wmslelUV0aq_Wo2FDGvPiD7LrgvVJ_vuGm8UUYixyzn8dtw/s400/Strategy-delivery+sml.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: "trebuchet ms" , sans-serif;">Figure
4 : project portfolio selection process.<br />
Source: adapted from Archer and Ghasemzadeh (1999)</span><o:p></o:p></div>
</td></tr>
</tbody></table>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">It cannot compare to the Management of Portfolio in terms of details but there are excellent chapters on projects operating at a strategic level.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<h3>
<span style="font-family: "georgia" , "times new roman" , serif; font-size: large;">Conclusion</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">An excellent self-contained manual i</span><span style="font-family: "trebuchet ms" , sans-serif;">t provides a philosophy for Portfolio Management </span><span style="font-family: "trebuchet ms" , sans-serif;">with readable definitions and explanations for the core principles, practices and processes. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Many of the sections come with ready defined examples that can be easily explained to Executive Leadership Teams during the implementation of Portfolio Management using MoP. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">If your organization is moving forward on Portfolio Management I would recommend you get a copy and familiarise yourself with the core concepts, principles and practices to support <span style="background-color: #fff2cc;">the cultural change that is needed for successful adoption of Portfolio Management.</span></span></div>
Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-36281411552917391482016-06-28T05:53:00.001-04:002016-07-09T10:18:21.596-04:00What is this thing called Portfolio Management?<span style="font-family: "trebuchet ms" , sans-serif;">In May's blog we explored the meaning of project success and it was clear that project management is focused on doing the project right, with a wider view of success identifying the need to deliver on more than the key constraints of time, budget and scope.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Over the next few weeks I will explore Portfolio Management which is predominately about <u>choosing the right projects</u> that are <u>aligned </u>to the <u>organization's strategy</u>.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">For those who wish to research deeper the sources for this series are:</span><br />
<br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">The Wiley Guide to Project, Program and Portfolio Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 1em;">Management of Portfolios - Published by Axelos in the UK</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; font-size: 1em;">The Standard of Portfolio Management (Third edition) - published by PMI</span></li>
</ul>
<br />
<div style="font-size: 1em; margin: 0px;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;"></span></span><br />
<a name='more'></a><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Delivering Strategy</span></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Projects were seen as temporary structures to deliver things or outputs. However as the business environment became increasing more complex organizations recognised that their projects needed to be considered as vehicles for change. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Then came the realisation that some projects and the benefits they deliver are highly inter-connected. Their success can be enhanced by running them in a synergistic way, Programme Management moved into the mainstream of strategic delivery.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Programmes (or Programs) are similar to projects in that they are temporary in nature and with their focus on wider delivery of benefits are excellent for delivering chunks of strategy into operations. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The figure below puts into context the concepts of delivering strategy across the spectrum of delivery vehicles.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<br />
<div class="separator" style="clear: both; text-align: center;">
</div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVK_Dou4WVXIa47BsWh_LLLXNE8z-qz2jE37AUXLASZz7SieU_ebCjc4VodiqvLxdtmJgb8iKMbUfJTWFke9cD8bE3Ak2_KlG2_HeotaxdzbbUoyrCzvJCzyg3wF2AVWyLDsPmlDdumhU/s1600/strategic-delivery.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgVK_Dou4WVXIa47BsWh_LLLXNE8z-qz2jE37AUXLASZz7SieU_ebCjc4VodiqvLxdtmJgb8iKMbUfJTWFke9cD8bE3Ak2_KlG2_HeotaxdzbbUoyrCzvJCzyg3wF2AVWyLDsPmlDdumhU/s1600/strategic-delivery.png" /></a></div>
<div style="text-align: left;">
</div>
<span style="font-family: "trebuchet ms" , sans-serif;">So now we have a handle on handling a single Strategic Initiative using Programme Management as a delivery vehicle. This created a new and major challenge for the organization, how to coordinate the multiple strategic initiatives along with their many delivery vehicles, and still maintain focus on the core strategy? </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "arial" , "helvetica" , sans-serif; font-size: large;">Portfolio Management</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Portfolio management has existed in the investment world for years. It is used to to deliver the strategic intent of the client over many years by coordinating and </span><span style="font-family: "trebuchet ms" , sans-serif;">managing the</span><span style="font-family: "trebuchet ms" , sans-serif;"> </span><span style="font-family: "trebuchet ms" , sans-serif;">the investments in strategic delivery.</span><span style="font-family: "trebuchet ms" , sans-serif;"> A portfolio plan would provide the approach to managing the investments, and once agreed, how the investments would be brought and sold according to the plan.</span><br />
<br />
<span style="font-family: "trebuchet ms" , sans-serif;">This concept was picked up in the Project Management world, and Project Portfolio Management(PPM) was born. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The next in this series will explore the current models for managing portfolios and identify a process to implement portfolio management in a large organization.</span><br />
<br />
<br />Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-80801838905544186972016-06-04T10:49:00.000-04:002016-06-05T06:42:46.644-04:00Project Success - Part 4 - Reasons to be Cheerful<h3>
<span style="font-family: "trebuchet ms" , sans-serif;">IMPROVING THE LIKELIHOOD OF SUCCESS<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz6myAJ3qHYujFdeCNasjsmSm-uN-H7QOg0OHkQ4bj2o4PUqCqSBH2rLiqHPxmtVLKTCsZbpO525cAaOuQtKq_N996axuLHPdSdC9QmAetMLcKD_2RM6Z6X31MT6KQa_WB5Tf0biUFvQg/s1600/flip+the+coin.jpe" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="133" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjz6myAJ3qHYujFdeCNasjsmSm-uN-H7QOg0OHkQ4bj2o4PUqCqSBH2rLiqHPxmtVLKTCsZbpO525cAaOuQtKq_N996axuLHPdSdC9QmAetMLcKD_2RM6Z6X31MT6KQa_WB5Tf0biUFvQg/s200/flip+the+coin.jpe" width="200" /></a></div>
</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">Wrapping up this series on Project Success I want to revisit some of the earlier themes and identify what you as the Project Manager or Project Owner can do to enhance the likelihood your project being judged a success.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">We have already identified in previous entries that a key theme of success is to understand what type of project the organization is initiating or selecting. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Organizations tend to opt for simplistic assessments of project type. They often equate difficulty of their </span><span style="font-family: "trebuchet ms" , sans-serif;">projects based on size</span><br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">how big the scope is</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">how large a budget will be required</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">estimated time / duration for the project</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">team, etc... </span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif;">They use $ and estimated counts to categorize their projects and i</span><span style="font-family: "trebuchet ms" , sans-serif;">t is true that bigger projects have a higher risk of failure. However, while size of project brings its own set of unique challenges, the real issues that drive the difficulty of projects are:</span><br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">complexity in the solution, and the stakeholder relationships</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">uncertainty of requirements, or in the project environment</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">urgency of delivery</span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif;">These issues bring an order of magnitude increase in the difficulty of a project, well above the challenges of a large big project.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"></span><br />
<a name='more'></a><span style="font-family: "trebuchet ms" , sans-serif;">There are many ways to assess and categorize the type of project, and in the previous entry I explored the NTCP framework proposed by Shenhar and Dvir in their book <a href="https://www.amazon.ca/Reinventing-Project-Management-Successful-Innovation/dp/1591398002/ref=sr_1_1?ie=UTF8&qid=1465036448&sr=8-1&keywords=reinventing+project+management" target="_blank">"Reinventing Project Management"</a>. The NTCP Framework provides a structured approach to assess the real issues of difficulty in projects.</span><br />
<br />
<span style="font-family: "trebuchet ms" , sans-serif;">It is relatively easy to understand and use, you can easily use the book to build a tool to aid in assessing project type and then provide some guidance on project management style and approach to adopt to improve the chances of success. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">It stands to reason that if we also look at the causes of project failure we should be able to identify the lessons we need to learn to improve the chances of success.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The Raconteur Magazine has run several articles on Project Management that are worth reviewing around this area. From 2014 the articles have included Project Success as a measure of performance. The links below provide access to the reports(you many need to create a simple account to access them). </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">Raconteur reports:</span><br />
<br />
<ul>
<li><span style="font-family: "arial" , "helvetica" , sans-serif;"><a href="http://raconteur.net/project-management-2016" target="_blank">Project Management 2016</a> - </span></li>
<li><a href="http://raconteur.net/project-management-2015" target="_blank"><span style="font-family: "arial" , "helvetica" , sans-serif;">Project Management 2015</span></a></li>
<li><a href="http://raconteur.net/project-management-2014" target="_blank"><span style="font-family: "arial" , "helvetica" , sans-serif;">Project Management 2014</span></a></li>
</ul>
<br />
<span style="font-family: "trebuchet ms" , sans-serif;">Similar to the UK's National Audit Office the reports identify common causes of project failure and there are a few recurring themes:</span><br />
<br />
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Lack of senior-management
involvement </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Lack of links to the organization's strategy</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Poor definition of requirements </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Lack of user involvement </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Inexperienced project managers </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Inadequate resources and skills </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Unrealistic expectations</span></li>
</ol>
<br />
<h3>
<span style="font-family: "trebuchet ms" , sans-serif;">New Mindset for new results</span></h3>
<br />
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">To improve the chances of success in our project we need to examine these seven themes and effect a reversal of the situation. We need to focus on the things we can effectively influence in our projects.</span></div>
<div>
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Identify <u>and communicate</u> how the project supports the delivery of the organization's strategy</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Work hard to <u>understand the desired outcome(s)</u> for the project and the project strategy / approach to deliver them. Getting an early common understanding between all stakeholders will improve the chances of success.</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><u>Engage users at every opportunity</u> - set your object to create a collaboration on building the solution and you will significantly increase the chances of success. This will also make expectations to a more realistic level.</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Clearly <u>identify the level of resourcing needed for the ideal timeline</u> and then a timeline based on the normal allocation of resources</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><u>Identify the skill sets required to deliver the project</u> and develop risk assessments for gaps with suggested mitigation (training, mentoring etc...)</span></li>
</ul>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">The lack of senior management involvement could be identified as a risk and explain in a way that is fact based. Write it as classic risk using the "</span><span style="font-family: "trebuchet ms" , sans-serif;">Cause - Event - Consequence" style. </span></div>
</div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">"Lack of senior management involvement will cause delays in project decisions leading to delays in project schedule an delays in the delivery of expected benefits."</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">You may help the organization recognise that the project might be unviable and put it on hold until a dedicated project sponsor/owner is found. </span></div>
<div>
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG8qy81mZ4ABSzsiNAPqovIIb-027PwhJV9I80YuHtCZ5k65SLW-3daP6X3Ba9imx44Jhy5o9NUWgTEQVQkCMRnkj2WYkGhTsc1Zouzm8UDXed5TYfT4pkBkGO2YoUOzGKs0X9zOUs63U/s1600/Success-Measure.png" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG8qy81mZ4ABSzsiNAPqovIIb-027PwhJV9I80YuHtCZ5k65SLW-3daP6X3Ba9imx44Jhy5o9NUWgTEQVQkCMRnkj2WYkGhTsc1Zouzm8UDXed5TYfT4pkBkGO2YoUOzGKs0X9zOUs63U/s1600/Success-Measure.png" /></a><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgG8qy81mZ4ABSzsiNAPqovIIb-027PwhJV9I80YuHtCZ5k65SLW-3daP6X3Ba9imx44Jhy5o9NUWgTEQVQkCMRnkj2WYkGhTsc1Zouzm8UDXed5TYfT4pkBkGO2YoUOzGKs0X9zOUs63U/s1600/Success-Measure.png" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><span style="font-family: "trebuchet ms" , sans-serif;"></span></a><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">Finally, defining early in the project how success will be measured is critical. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">As part of the project definition and initiation clearly define the success when you document the desired outcome(s) for the project. </span><br />
<br />
<span style="font-family: "trebuchet ms" , sans-serif;">Remember to define success from different stakeholder perspectives because these will the longer term measures of success long after you have delivered the project on time and within budget.</span><br />
<span style="background-color: yellow;"><b><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">If you want a copy of my NTCP Project Type assessment tool (in Excel) let me know in a comment and I will arrange to email you the workbook.</span></b></span></div>
Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com2tag:blogger.com,1999:blog-2757424062369305060.post-7917250261933416702016-05-24T05:36:00.003-04:002016-05-24T06:10:16.263-04:00Project Success - "Projects are like Chalk and Cheese"<span style="font-family: "trebuchet ms" , sans-serif;">This is the third part in my thoughts on Project Success:</span><br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">In part 1, I posed the question <a href="http://pm-net.blogspot.ca/2016/05/how-do-you-measure-project-success.html" target="_blank">"</a></span><span style="background-color: white; color: #333333; font-family: "arial" , "tahoma" , "helvetica" , "freesans" , sans-serif;"><a href="http://pm-net.blogspot.ca/2016/05/how-do-you-measure-project-success.html" target="_blank">How do you measure Project Success?"</a></span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">In Part 2, I explored</span><a href="http://pm-net.blogspot.ca/2016/05/wish-for-serendipity-take-advantage-of.html" style="font-family: 'Trebuchet MS', sans-serif;" target="_blank"> Project Success from different perspectives</a><span style="font-family: "trebuchet ms" , sans-serif;"> and provided some links to sources that explored factors in project success and to improve the chance of success beyond serendipity.</span></li>
</ul>
<span style="font-family: "trebuchet ms" , sans-serif;">The key points from the first two parts are:</span><br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Project Success cannot be judged by the triple constraint. </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">The triple constraint of time cost and scope only address the project efficiency dimension of success.x</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Different projects have different success measures depending on your point of view as a stakeholder</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Shenhar and Dvir identified five dimensions of success which could be used as a model to identify the success criteria for a project</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Success criteria has to be built into the project from the first step and then reflected in its plan, demonstrating how the project will deliver the outcome</span></li>
</ul>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">I believe this evidence also points to the need for an organisation to develop its PM reward system to be based on more than just the traditional triple constraint. </span><br />
<span style="font-family: "trebuchet ms";"></span><br />
<a name='more'></a><br /></div>
<b style="font-family: Georgia, 'Times New Roman', serif;"><i><a href="https://www.blogger.com/%3Ca%20href=%22http://idioms.thefreedictionary.com/chalk+and+cheese%22%3Echalk%20and%20cheese%3C/a%3E" target="_blank">"Like Chalk and Cheese" </a>is a saying we have in my family, it means things look like they should be the same, but underneath they are totally different.</i></b><br />
<div class="separator" style="clear: both; text-align: left;">
<br /></div>
<div style="border-image: none;">
<span style="font-family: "trebuchet ms" , sans-serif;">In this post I want to explore how the organisation can </span><span style="font-family: "trebuchet ms" , sans-serif;">increase the chances of success by understanding the "Chalk and Cheese" type of project that is being initiated, and how to adjust the project strategy, project management approach and styles to impact its chance of success.</span></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAHJOeNigitSSlJIkUj6NFrT6bJLoPx8QLRulJ_ecgGK4pPgHNpH14J9xvJBOey_q7xdgLEAh_VdVbHBZ0yT-mlCjc7tp71fBT-9kDV34s8WhycU4VC7zDaJgLJjd0Gt9pNwfsp0zrtyg/s1600/success+in+palm.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="150" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgAHJOeNigitSSlJIkUj6NFrT6bJLoPx8QLRulJ_ecgGK4pPgHNpH14J9xvJBOey_q7xdgLEAh_VdVbHBZ0yT-mlCjc7tp71fBT-9kDV34s8WhycU4VC7zDaJgLJjd0Gt9pNwfsp0zrtyg/s200/success+in+palm.png" width="200" /></a></div>
<div style="border-image: none;">
<span style="font-family: "trebuchet ms";"><br /></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">I am pretty sure I can make this next statement. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">We know that different project types have different chances of success. We instinctively understand that more complexity, more external stakeholder increase the risk of project failure.</span><br />
<br />
<h2>
<span style="font-family: "trebuchet ms";">NTCP Framework</span></h2>
<span style="font-family: "trebuchet ms";">Based on solid research, Shenhar and Dvir in their book <a href="https://hbr.org/product/reinventing-project-management-the-diamond-approach-to-successful-growth-and-innovation/an/8002-HBK-ENG" target="_blank">Reinventing Project Management</a> have developed a Diamond Framework to help classify projects. </span><br />
<span style="font-family: "trebuchet ms";"><br /></span>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5pShjUhIHYn8kWIwdfXwdfOdkB4ltWwIeBP_4t48cKh3Y_f858Rk074Ve0TGF8mr6CqsaUTJqsS0XXRJFrfcoVqoihjD2SJx9TWsHBbvu3pqtsoA3ULrXYynwTXdjEnwVSz-rvyOJfx4/s1600/NTCP+Framework.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="316" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5pShjUhIHYn8kWIwdfXwdfOdkB4ltWwIeBP_4t48cKh3Y_f858Rk074Ve0TGF8mr6CqsaUTJqsS0XXRJFrfcoVqoihjD2SJx9TWsHBbvu3pqtsoA3ULrXYynwTXdjEnwVSz-rvyOJfx4/s400/NTCP+Framework.png" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">NTCP Dimensions</span></td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms";">The purpose of the NTCP framework is to help organisations and management gain a common understanding the inherent uncertainties, complexities and other variables such as time. Using the framework to assess projects and gain a common understanding of those inherent risks to success enables the organisation to make decisions on the project and consider what project management style needs to be used in order to increase the chances of success.</span><br />
<span style="font-family: "trebuchet ms";"><br /></span>
<span style="font-family: "trebuchet ms";">The four dimensions of uncertainty in the framework are defined as:</span><br />
<ul>
<li><span style="font-family: "trebuchet ms";"><b>Novelty:</b> How new is the product of this project to your organisation or market and how clearly you can define the requirements and customer needs. </span></li>
<li><span style="font-family: "trebuchet ms";"><b>Technology:</b> How the technological uncertainty impacts the design, testing and communications on the product?</span></li>
<li><span style="font-family: "trebuchet ms";"><b>Complexity:</b> How the scope of the project affects the project organisation and formality of project management?</span></li>
<li><span style="font-family: "trebuchet ms";"><b>Pace: </b>How the level of urgency will affect the project and the need for autonomy in decision making in the project.</span></li>
</ul>
<span style="font-family: "trebuchet ms";"><br /></span>
<span style="font-family: "trebuchet ms";">Using the evidence and guidance in the book the authors suggest (convincingly) that different types of projects, require different project management styles. This combined with greater understanding of the dimensions of success to increase the likelihood of project success.</span><br />
<h2>
<span style="font-family: "trebuchet ms";">Novelty</span></h2>
<span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">This dimension represents the uncertainty of the project’s
goal, the market, or both. It has t</span><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">hree areas of uncertainty that lead to decisions being made on management decisions in planning and the marketing / release / transition strategies: </span><br />
<br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Reliability of
marketing research / understanding of customer
requirements</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">The time it
takes to define and freeze product requirements, and</span></li>
<li><span style="color: red; font-family: "arial" , sans-serif; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;"> </span></span><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">Specific
marketing/transition/change management strategies for the product.</span></li>
</ul>
<br />
<span style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">The framework has three levels or
types of novelty defined as follows:</span><br />
<br />
<ul>
<li><u style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Derivative</span></u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">: Products are
extensions and improvement of existing products. </span><i style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt;">(Modifications, extensions and improvements)</span></i></li>
<li><span style="color: red; font-family: "arial" , sans-serif; font-size: 11pt; text-indent: -18pt;"><span style="font-family: "times new roman"; font-size: 7pt; font-stretch: normal;"> </span></span><u style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Platform</span></u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">: Products are new generations of existing products lines, they form the
basis for new versions of the product </span><i style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt;">(i.e. a new car model or aircraft).</span></i></li>
<li><u style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Breakthrough</span></u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">: The products of
these projects are new-to-the-world.
They transform a new concept or a new idea into a new product that
customers have never seen before </span><i style="text-indent: -18pt;"><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 11pt;">(i.e. the first iPad/iPhone)</span></i><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; text-indent: -18pt;">.</span></li>
</ul>
<br />
<h2>
<span style="font-family: "trebuchet ms"; font-size: large;">Technology</span></h2>
<span style="font-family: "trebuchet ms" , sans-serif;"><span style="line-height: 17.12px;">It is probably</span></span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;"> more precise to describe this dimension as representing the project’s level of technological uncertainty that impacts on project approach and style for:</span><br />
<div class="MsoNormal" style="margin-left: 54.0pt;">
</div>
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Design, testing, communication and interaction, </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">timing of design freeze, and
needed design cycles.</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Defines
the technical competence needed by the project team</span></li>
</ul>
<br />
<span style="font-family: "trebuchet ms";">
Four levels of uncertainty<br />
</span><br />
<div class="MsoNormal" style="margin-left: 54pt;">
</div>
<div>
<ul>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Low-tech</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Projects rely on existing and well-established technologies. (<i>Construction Projects).</i></span></li>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Medium-tech</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Projects use mainly existing or base technologies but incorporate a new technology or new feature that did not exist on previous products. <i>(Appliances, automobiles, or heavy equipment).</i></span></li>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">High-tech</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Most of the technologies employed are new to the firm but already exist and are available at project initiation. <i>(Computer and defense development).</i></span></li>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">Super-high-tech</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Based on new technologies that do not exist at project initiation. The mission is clear, the solution is not and new technologies must be developed during the project. <i>(Moon-landing program).</i></span></li>
</ul>
</div>
<br />
<h2>
<span style="font-family: "trebuchet ms" , sans-serif;">Complexity</span></h2>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt; line-height: 107%;">Complexity of the product, the task, and the project organization. It is r</span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12pt; line-height: 107%;">elated to system scope and affects the project organization, the
formality of project management, and the level of skills required by the project team including the project manager.</span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt; line-height: 107%;"><br /></span></div>
<div class="MsoNormal">
<span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt; line-height: 107%;">There are three levels of complexity defined:</span><span style="font-family: "trebuchet ms" , sans-serif; font-size: 12.0pt; line-height: 107%;"><o:p></o:p></span></div>
<div class="MsoNormal">
</div>
<ul>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; mso-ansi-language: EN-US;">Assembly</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">:
Projects involve creating a collection of elements, components, and modules
combined into a single unit performing a single function. <i>(CD player or
coffee machine, building a new organization responsible for single function,
i.e. payroll).</i></span></li>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; mso-ansi-language: EN-US;">System</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">:
Projects involve a complex collection of interactive elements and subsystems,
jointly performing multiple functions to meet a specific operational need. <i>(Cars, computers, buildings, or an entire
business)</i>.</span></li>
<li><b><u><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif; mso-ansi-language: EN-US;">Array</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Projects deals with a
large, widely dispersed collection of subsystems that function together to
achieve a common purpose, system of systems or super-systems. <i>(National communication networks, a mass
transit infrastructure or regional power distribution networks, or an entire
corporation).</i></span></li>
</ul>
<h2>
<span style="font-family: "trebuchet ms" , sans-serif;">Pace</span></h2>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">We all know how the speed at which the project needs to execute plays a major role in its success. The </span><span style="font-family: "trebuchet ms" , sans-serif;">Urgency of
the project, speaks to how much time there is to complete the job and what happens if
time goals are not met.</span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<br />
<div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><span lang="EN-US">Pace
impacts the autonomy of the project team, the bureaucracy, the speed of
decision making, and the intensity of the top management involvement.</span><o:p></o:p></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><span lang="EN-US"><br /></span></span></div>
<div class="MsoNormal">
<span style="font-family: "trebuchet ms" , sans-serif;"><span lang="EN-US">There are four levels
of pace defined:</span><o:p></o:p></span></div>
<div class="MsoNormal">
</div>
<ul>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><u><span lang="EN-US">Regular</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Time is not critical to immediate
organizational success.</span></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><u><span lang="EN-US">Fast/competitive</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Projects are typically conceived
to address market opportunities, create a strategic positioning, or form new
business lines.</span></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><u><span lang="EN-US">Time-critical</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: Projects must be completed by a
specific date, which is constrained by a definitive event or a window of
opportunity. Missing the deadline means
project failure.</span></li>
<li><b style="font-family: 'Trebuchet MS', sans-serif;"><u><span lang="EN-US">Blitz</span></u></b><span lang="EN-US" style="font-family: "trebuchet ms" , sans-serif;">: These are critical projects, the
most urgent, time-critical. Solving the
crisis as fast as possible is the criterion for success.</span></li>
</ul>
<h2>
<span style="font-family: "trebuchet ms" , sans-serif;">Applying the Framework</span></h2>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">This diagram taken from the book starts to provide some thoughts on how you could use the framework to shape the project success criteria, the approach the project will take to develop its products, and the project management style</span></div>
<div>
</div>
<br />
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuyXNae66niPLNuxgfuaMc9yvli73f6mLScSDm9gUQpC5D884d1aEL2mFj2Ho38M8zJsbdt-WG2saRTPgnI68AmMpfs3wWSAgfV13WlHTV9pT5NdM7BOrbsn7pYNwRdsyNkA0hFXjH36s/s1600/NTCP+Framework+guidance.png" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="260" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuyXNae66niPLNuxgfuaMc9yvli73f6mLScSDm9gUQpC5D884d1aEL2mFj2Ho38M8zJsbdt-WG2saRTPgnI68AmMpfs3wWSAgfV13WlHTV9pT5NdM7BOrbsn7pYNwRdsyNkA0hFXjH36s/s320/NTCP+Framework+guidance.png" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="font-size: 12.8px;"><span style="font-family: "helvetica neue" , "arial" , "helvetica" , sans-serif;">NTCP Dimensions with high level PM Style guidance</span><br />
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
</td></tr>
</tbody></table>
<span style="font-family: "trebuchet ms" , sans-serif;">I believe one of the great aids of the using the framework is to share widely with stakeholders to gain a greater common understanding of the nature of the project. </span></div>
<h3>
<span style="font-family: "trebuchet ms" , sans-serif;">New Mindset</span></h3>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;">The use of the NTCP Framework together with Shenhar and Dvir's thinking on what constitutes project success (see previous blog entries) identifies the need for us to develop a new mindset, a new way of thinking to achieve better outcomes. The table below identifies the changes in thinking that will help improve the success of our projects.</span></div>
<div>
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: "trebuchet ms" , sans-serif;">NTCP Framework and Adaptive Project Management</span></td></tr>
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<span style="font-family: "trebuchet ms" , sans-serif;">The good thing is that this new mindset doesn't replace the traditional project management it is an evolution of it. We can already see many of the adaptive styles in project management are moving into the mainstream to help deal with the uncertainty. This book with its level of research, provides more guidance on the rationale for adopting those styles.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">In the next blog entry I will walk through thoughts on how to apply the NTCP framework as part of a project type assessment to work in Portfolio Management and selecting the project approach / method, project manager and defining contingency etc...</span><br />
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<span style="font-family: trebuchet ms, sans-serif;">In June my subject matter will be the challenge of implementing Portfolio Management.</span></div>
Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-62397273231259864492016-05-08T16:53:00.001-04:002016-06-04T06:50:23.866-04:00Wish for Serendipity, take advantage of the fluke, and never trust to dumb luck!<br />
<a href="http://www.andertoons.com/free-cartoons" target="_blank">
</a><span style="font-family: "trebuchet ms" , sans-serif;"><a href="http://www.andertoons.com/free-cartoons" target="_blank"><img alt="Graph Cartoon 7231: Serendipity is up, fluke is doing well, but I’m a little concerned about our dumb luck." class="fullsize" src="http://cdn.andertoons.com/img/toons/cartoon7231.png" height="300" title="Serendipity is up, fluke is doing well, but I’m a little concerned about our dumb luck." width="400" /></a></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">Of course we all want <a href="http://www.merriam-webster.com/dictionary/serendipity" target="_blank">Serendipity </a>to visit us on our projects, we welcome help from any source. A Project Manager can increase the chances of our friend Serendipity visiting the project b</span><span style="font-family: "trebuchet ms" , sans-serif;">y:</span><br />
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<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Being alert, </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">noticing what others do not see, </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">putting together the project jigsaw as the new pieces emerge in the form of issues, ideas etc...</span></li>
</ul>
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<span style="font-family: "trebuchet ms" , sans-serif;">How does this all relate to project success? </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Successful projects do not just happen. A Project Managers career is going to be a short and painful one if they do not understand how to set up their projects to be successful. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Before we get into how to make the conditions right for project success let's look at project success from the traditional project perspective.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Success from the Project Perspective</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Traditionally project success was measured against delivering against the Iron Triangle - basically project management efficiency. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">We often hear the mantra "delivered on-time, within budget and what was specified" as the project manager doing what is necessary to be successful. The whole PM industry has been focused on driving for this performance. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">To help us meet these three key performance indicators we have developed more PM processes and best practices than you can shake a stick at, but we seem to continually struggle in our search for success. Despite all this effort project statistics still show that many projects are recorded as unsuccessful. </span></div>
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Success from Business Perspective</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">This published whitepaper at </span><a href="http://www.pmi.org/Learning/next-level-up-how-do-you-measure-project-success.aspx" style="font-family: 'trebuchet ms', sans-serif;" target="_blank"><b>PMI Research</b></a><span style="font-family: "trebuchet ms" , sans-serif;"> is rethinking the triple constraint, it clearly shows the profession is changing its perspective on what constitutes a successful project, moving away from the project outputs based on the Iron Triangle, towards Business outcomes.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">The opening paragraph from <a href="https://www.pmi.org/learning/~/media/PDF/Knowledge%20Center/one-solution-project-success-whitepaper.ashx" target="_blank"><b>PMI research on project success</b></a> also provides more context on why the delivery of a project to the triple constraint is not sufficient for it to be deemed successful.</span><br />
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<i><span style="font-size: x-small;"><span style="font-family: "trebuchet ms" , sans-serif;"><span style="background-color: white;">"Projects are the vehicles of change. </span><span style="background-color: yellow;">Projects are provided funding and resources not so they can simply be </span></span><span style="font-family: "trebuchet ms" , sans-serif;"><span style="background-color: yellow;">delivered on time, within budget and according to scope</span><span style="background-color: white;">; but because they help drive the necessary changes, </span></span><span style="background-color: white; font-family: "trebuchet ms" , sans-serif;">both individually and organizationally, that create value for the organization."</span></span></i><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">I agree with this thought, and I believe that organizations require project to be successful beyond meeting the basic iron triangle. I also believe that PMO's should be striving to establish the environment and conditions to ensure every project is successful, before the project is even launched.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;">Why are Projects Unsuccessful?</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">We have known for years what factors contribute to making project unsuccessful. The National Audit Office and the OGC in the UK published a paper identifying the top reasons why project fail <span style="font-size: x-small;">(see box three extracted from <a href="http://www.bcs.org/upload/pdf/complexity.pdf" target="_blank">British Computer Society Report</a>).</span></span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">None of these reasons are new, and the sad fact is they are as valid today as when they were published over 12 years ago. The main problem I see is that despite knowing these factors to be true, somehow executive leaders do not believe that they apply to their projects....</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">So what can be done about this? </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">As PM Professionals we have a duty to help shine a light on what project success is, and we should be promoting how to help our organizations improve the success of their projects.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">In Chapter 12 of<span style="font-size: xx-small;"> <span style="font-size: xx-small;">"</span></span></span><span style="font-size: xx-small;"><span style="background-color: white; font-family: "verdana" , "arial" , "helvetica" , sans-serif;"><span style="font-size: xx-small;">Project Planning and Project Success: The 25% Solution"</span></span><span style="font-family: "trebuchet ms" , sans-serif;"> </span><span style="font-family: "trebuchet ms" , sans-serif; font-size: xx-small;">(P </span></span><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-size: xx-small;">Serrador)</span><span style="font-size: xx-small;"> </span>brings together an impressive collection of literature review and research on the linking of project planning to project success. He sums it up with the follow statement: </span><br />
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<i><span style="font-size: xx-small;"><span style="font-family: "times" , "times new roman" , serif;"><span style="background-color: white;">"... </span><span class="b24-hit" style="background-color: white;">the</span><span style="background-color: white;"> preponderance of </span><span class="b24-hit" style="background-color: white;">the</span><span style="background-color: white;"> literature has found that </span><span class="b24-hit" style="background-color: white;">planning</span><span style="background-color: white;"> and </span><span class="b24-hit" style="background-color: white;">the</span><span style="background-color: white;"> level of completeness of </span><span class="b24-hit" style="background-color: white;">planning</span><span style="background-color: white;"> are important for </span><span class="b24-hit" style="background-color: white;">project</span><span style="background-color: white;"> </span><span class="b24-hit" style="background-color: white;">success.</span><span style="background-color: white;">From </span><span class="b24-hit" style="background-color: white;">the</span><span style="background-color: white;"> literature review alone we can answer </span><span class="b24-hit" style="background-color: white;">the</span><span style="background-color: white;"> question:<b> Is </b></span><b><span class="b24-hit" style="background-color: white;">planning</span><span style="background-color: white;"> important for </span><span class="b24-hit" style="background-color: white;">project</span><span style="background-color: white;"> </span><span class="b24-hit" style="background-color: white;">success</span></b><span style="background-color: white;"><b>?</b> </span><span class="b24-hit" style="background-color: white;"><b>The</b></span><span style="background-color: white;"><b> answer is yes</b>.</span></span><span style="background-color: white;"><span style="font-family: "times" , "times new roman" , serif;">"</span><span style="font-family: "arial" , "helvetica" , sans-serif; font-size: xx-small;">.</span></span></span></i><br />
<span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif;"><br /></span>
<span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif;">This would appear to also bear out the influence of point 7, and partially point 4 from the OGC table above.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">In "Reinventing Project Management" Shenhar and Dvir point to integrating the project success dimensions (<a href="http://pm-net.blogspot.ca/2016/05/how-do-you-measure-project-success.html" target="_blank">see previous post</a>) in to project planning (p.33). They include a view that project managers are responsible for achieving success in all dimensions. On page 35 they identify Key Points and action items for developing the environment for success.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">I have included links in this post to white papers / reports and other sources of information to help you understand the conditions and factors for enabling the successful environment for your projects. I hope you find them useful to back up your arguments / actions by demonstrating they are <u><b>based on solid evidence</b></u>. </span><br />
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<span style="font-size: large;"><b>Look Forward</b></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">In the next post I will explore the project success factors, and how they fit with different types of projects.</span><br />
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<span style="font-family: "times" , "times new roman" , serif; font-size: large;"><b>Additional Sources / Research</b></span><br />
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<span style="background-color: white; color: #323a45; font-family: "trebuchet ms" , sans-serif; font-size: small; line-height: 1.3em; text-transform: capitalize;"><b><a href="http://onlinelibrary.wiley.com/doi/10.1002/pmj.21468/abstract;jsessionid=8A0DCCF813D87BA5937FDB9910D8B8D5.f01t04" target="_blank">The Relationship Between Project Success And Project Efficiency </a> </b></span><span style="background-color: white; color: #323a45; font-family: "trebuchet ms" , sans-serif; font-size: x-small; line-height: 1.3em; text-transform: capitalize;">(</span><span style="font-family: "trebuchet ms" , sans-serif; font-size: x-small;">you can get this well researched paper for free if PMI Member it is a paper in the Project Management Journal)</span></div>
<a href="https://www.apm.org.uk/sites/default/files/Conditions%20for%20Project%20Success_web_FINAL_0.pdf" target="_blank"><span style="font-family: "trebuchet ms" , sans-serif;"><b>Conditions for Project Success</b></span></a><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.apm.org.uk/sites/default/files/APM%20Success%20report_NOV%2014.pdf" target="_blank"><b>Factors in Project Success</b></a></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><b><a href="https://gupea.ub.gu.se/bitstream/2077/37753/1/gupea_2077_37753_1.pdf" target="_blank">Interesting Paper on Serendipity in Product Development</a></b></span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><a href="https://www.wrike.com/blog/complete-collection-project-management-statistics-2015/" target="_blank"><b>Complete collection of Project Management Statistics</b></a></span><br />
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<br />Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-53325496623296374392016-05-01T10:38:00.000-04:002016-06-04T06:21:39.326-04:00How do you measure Project Success?<span style="font-family: "trebuchet ms" , sans-serif;">Projects are everywhere in business and life and we have a myriad of books, professional bodies to help build skills and knowledge needed to manage a project. We are training and certifying project managers for their knowledge and understanding to ensure we have a professional to manage the project. But the consensus seems to be that we are still doing projects badly with 30% failing (depending on which figures you look at this could be as high as 70%). </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">In these austere times we cannot afford to waste resources $ and peoples time on failures. We need to pick the right projects and we need them to be successful.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">So if projects are still failing how can we (project management professionals) significantly improve the chances of success beyond the definitions and guidance written in the BoK's and Best Practices? </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">I believe one thing we can do is create a common understanding of what is meat of project success and how we can significantly improve the project outcome to enable it to be successful.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Hence the subject for <b>May </b>will be to explore "Project Success" and how do we demonstrate it to the project stakeholders (which group care about what measures). </span><br />
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<a name='more'></a><span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The sources for this months posts are:</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;"><b><a href="https://www.amazon.ca/Reinventing-Project-Management-Successful-Innovation/dp/1591398002/ref=sr_1_1?ie=UTF8&qid=1462109627&sr=8-1&keywords=reinventing+project+management" target="_blank">Reinventing Project Management</a>: </b><i>The </i>Diamond Approach to successful growth and innovation - published by Harvard Business Review - Authors Shenhar and Dvir </span></blockquote>
<blockquote class="tr_bq">
<span style="font-family: "trebuchet ms" , sans-serif;"><b><a href="https://www.amazon.ca/Project-Planning-Success-25-Solution/dp/1482205521" target="_blank">Project Planning and Project Success—The 25% Solution</a>: </b>- published by CRC - Author Pedro Serrador,</span><span style="background-color: white; font-family: "arial" , "helvetica" , sans-serif; font-size: x-small;"> PHD</span></blockquote>
<span style="font-family: "trebuchet ms" , sans-serif;">Both books are available from Amazon and Project Planning and Project Success is available on Books 24x7 if you have access.</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span><span style="font-family: "trebuchet ms" , sans-serif;">Over the next four weeks we will be exploring the definitions of success, the how the different PM processes and tools contribute to success with the intention of identifying the attributes of project management that <u>greatly</u> increases the chances for success. </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">I will be publishing weekly and at the end of the month I will create a summary of the findings and comments. </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span>
<span style="font-family: "trebuchet ms" , sans-serif;">The first question is, what is project success?</span><br />
<span style="font-family: "trebuchet ms" , sans-serif;"></span><br />
<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Is it delivering the project to satisfy the iron triangle (Cost, Time, Scope/Quality) ? </span></li>
</ul>
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<li><span style="font-family: "trebuchet ms" , sans-serif;"><span style="font-family: "trebuchet ms" , sans-serif;">or </span>is it meeting or exceeding stakeholder expectations and if so which stakeholders are the most important?</span></li>
</ul>
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<span style="font-family: "trebuchet ms" , sans-serif;">In legal terms, on-time, within budget and delivered what was specified is classed as success. The Body's of knowledge used this as a mantra for years, however gradually they are moving to include some additional attributes of success. Such as "Customer Satisfaction", "Achieving the business outcome in the business case". </span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">We often hear the project supplier use the words "the product was delivered on-time, within the cost and to your specifications". This may be true, but from the customer perspective still the project is seen as a failure because it doesn't really meet their needs.</span><br />
<h3>
<span style="font-family: "trebuchet ms" , sans-serif;">Dimensions of Success Beyond the Iron Triangle</span></h3>
<span style="font-family: "trebuchet ms" , sans-serif;">In "Reinventing Project Management" Chapter 2 Shenhar and Dvir identify five main dimensions of project success:</span><br />
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<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Project Efficiency (on-time, within budget and to specification)...</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Impact on the Customer</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Impact on the Team</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Business and direct success</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Preparation for the future</span></li>
</ol>
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<span style="font-family: "trebuchet ms" , sans-serif;">Serrador refers to similar dimensions of project success:</span></div>
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<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Project efficiency: Meeting cost, time, and scope goals; and </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Project success: Meeting wider business and enterprise goals.</span></li>
</ol>
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<span style="font-family: "trebuchet ms" , sans-serif;">He collected data on over 1,300 projects from 60 countries and conducted detailed statistical analysis and came to the conclusion that the 2 aspects of success are interlinked and the project shouldn't disregard either dimension of success. He states that Project Managers should consider building broader success criteria into their project definitions at the beginning.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Shenhar and Dvir highlight the broader success dimensions over the longer time period than the normal project timescale.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">In my own observations I see that for projects to be successful they generally depend on two intertwined aspects of the project. </span></div>
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<br />
<ol>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Developing the solution of the problem or opportunity the organization has set as an objective.</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;">Preparing the organization to adopt the solution so that it can take advantage of the new capabilities the solution provides.</span></li>
</ol>
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<span style="font-family: "trebuchet ms" , sans-serif;">Failure to prepare the organization for the new solution often creates challenges of adoption and therefore the longer term success. </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Over the next four weeks I will explore how the two books identify how to improve the chances of success for the projects and what practical steps project managers can take to enhance the chances for success in their projects.</span></div>
<br />Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0Fredericton, NB, Canada45.9635895 -66.64311509999998945.786931499999994 -66.965838599999984 46.1402475 -66.3203916tag:blogger.com,1999:blog-2757424062369305060.post-22244025714782151552016-04-23T16:15:00.001-04:002016-04-23T16:46:47.597-04:00Operation Revitalise!<div style="text-align: center;">
<span style="font-family: "times" , "times new roman" , serif; font-size: large;">It has been a while since my last entry</span><span style="font-family: "trebuchet ms" , sans-serif;"> </span><br />
<span style="font-family: "trebuchet ms" , sans-serif;">(sounds like the start of a confession). </span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;"><br /></span></div>
<span style="font-family: "trebuchet ms" , sans-serif;">Well I am back in the saddle and ready to start </span>blogging<span style="font-family: "trebuchet ms" , sans-serif;"> and helping improve the Project Management Competency of whomever wishes to read my musings.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">Over the next 8 months (the rest of this year) I will be focusing on set subject themes for each month with the occasional drift into where-ever the conversation goes.</span><br />
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<span style="font-family: "trebuchet ms" , sans-serif;">These are the themes (but I am open to requests/suggestions).</span><br />
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<ul>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>May</b>: Project Success</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>June</b>: Portfolio Management</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>July</b>: Transformation Projects</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>August</b>: Stakeholder Engagement</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>September</b>: Issue Management (revisited)</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>October</b>: Risk Management (the sister of Issue Management)</span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>November</b>: Governance in all it's forms </span></li>
<li><span style="font-family: "trebuchet ms" , sans-serif;"><b>December</b>: Estimating and Planning - A refresher of a core skill</span></li>
</ul>
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<span style="font-family: "trebuchet ms" , sans-serif;">These new blogs will include books to review/read. At the beginning of the month I will publish details (titles etc...) of the book or books that I am going to be reading to study the subject.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">I'm looking forward to revitalising this blog with some lively relevant content!</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">Suggestions for potential postings within each month welcomed.</span></div>
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<span style="font-family: "trebuchet ms" , sans-serif;">If you want to know more about me then you can view my profile on <a href="https://ca.linkedin.com/in/davidwhelbourn" target="_blank">linkedIn </a></span></div>
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Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0Fredericton, NB, Canada45.9635895 -66.64311509999998945.786931499999994 -66.965838599999984 46.1402475 -66.3203916tag:blogger.com,1999:blog-2757424062369305060.post-84311188890399308172008-06-11T08:46:00.000-04:002016-06-04T06:26:05.634-04:00Project / Program / Programme Governance<strong>Definition of Governance </strong><br />
<br />
In the previous blog entry I defined Project Governance as:<br />
<br />
<em>Project Governance is the process of developing, communicating, implementing, monitoring, and assuring the policies, procedures, organizational structures, and practices associated with a given project.</em><br />
<em><br /></em>
The combination of these policies, procedures etc make a governance framework to facilitate efficient and effective decision making. Efficiency meaning economically in terms of time and effective being the right decisions for the right problems.<br />
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Governance or Project Control is all about decision making and is central to project / programme management. The purpose of control is to ensure that the project or program is producing the required products that meet the defined quality criteria, is being carried out on schedule and as agreed with the resource and cost plans. This also applies equally to programs but adding the requirement to deliver the benefits to meet the program objectives.<br />
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The framework could be broken down into its constituent parts such as:<br />
<br />
<strong><em><span style="font-family: "trebuchet ms" , sans-serif;">Policies</span>:</em></strong>The policies that help guide the behaviour of the project staff within policy areas.<br />
<ul>
<li>Tolerance for a stage overrun within which the PM can accept changes to scope without having to refer to the project board. i.e. the current stage can overrun by 10% of time and 5% of budget without the PM having to raise a exception report to the Steering Committee Executive (Project Board).<em> I will review the concept of tolerance in another post.</em></li>
<li>Releasable product: The definition of what constitutes a releasable product i.e. definition of the severity of incidents and the acceptable number at each level for a releasable product.</li>
<li>Quality Policy</li>
<li>Expense Policy (could be taken from the corporate policy)</li>
<li>....</li>
</ul>
<strong><em><span style="font-family: "trebuchet ms" , sans-serif;">Procedures</span>:</em></strong> This would be a set of Standard Operating Procedures (SOP's) that would ensure consistency of managing different areas of the project control.<br />
<ul>
<li>Scope Management procedure</li>
<li>Change Management procedure (scope change management)</li>
<li>Risk Management procedure</li>
<li>Issue Management procedure</li>
<li>Work Authorisation procedure</li>
<li>....</li>
</ul>
<strong><em><span style="font-family: "trebuchet ms" , sans-serif;">Practices</span>:</em></strong> These are the techniques, processes and methodologies used in the governance of the program / project.<br />
<ul>
<li>The use of Stage Gates for program and project control</li>
<li>Breaking projects into stages to facilitate control</li>
<li>Using Quality Review Technique for approval of products</li>
<li>Conducting Project Audits to ensure compliance to procedures</li>
<li>Conducting weekly project team meetings where progress, issues, risks and work are discussed</li>
<li>Conducting weekly or as required Change Control Board meetings to discuss the change requests and those that are acceptable are assigned for impact assignment and the impact assessments for those in the pipeline are reviewed and accepted, rejected or escalated for Steering Committee Executive authorisation (with an exception plan showing how the change will effect the project)</li>
<li>....</li>
</ul>
The organization's management may include the program governance into the organizations overall governance model. This will ensure that the program and its related projects will comply to the wider organization governance. Typically these include regulatory and financial governance frameworks around privacy, security and investment appraisal.<br />
<br />
<strong><em>Now we have defined the framework from a policy, procedure and practices point of view we need to include an organization structure that provides authorizations, decisions and guidance to the program / project.</em></strong><br />
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PRINCE2 provides a well documented separation of the management of the project from the work needed to produce the products. The fundamental principle is that the project organization has four layers:<br />
<ol>
<li>Corporate or Program management</li>
<li>Direction of the project</li>
<li>Day-to-day management of the project</li>
<li>Team management</li>
</ol>
The first layer initiates a project and defines the overall constraints. The project management team perform the next three layers.<br />
<br />
<em><span style="font-size: 85%;">The next few paragraphs are taken directly from the PRINCE2 manual. </span></em><br />
<br />
PRINCE2 provides a structure for a project management team that support<br />
<br />
<ul>
<li>Roles for decision makers</li>
<li>Management by exception for the decision makers</li>
<li>Full time or part time project management</li>
<li>Controlled delegation of some day-to-day management responsibilities, where required to team managers.</li>
<li>Roles for independent inspection of all aspects of project performance</li>
<li>Administrative support, as required to the project manager and team managers</li>
<li>Agreement by all concerned on what the various roles and responsibilities are</li>
<li>Lines of communication between the project management team members</li>
</ul>
The organization structure has many names; project board, steering committee, project control board, Steering Committee Executive etc...<br />
<br />
The structure is a temporary one designed to manage the project / program to its successful conclusion to meet the requirements of its charter. The structure allows for channels of communication to decision making forums and should be backed up by role descriptions that specify the responsibilities, goals, limits of authority, relationships, skills, knowledge and experience required for all the roles in the project/program organization.<br />
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<br />
<br />
<br />
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<img alt="" border="0" id="BLOGGER_PHOTO_ID_5040771900521211874" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiT-9x9IwZ0ien6pybqlJ0O9OhOkl1cR_cXVgBuIMpulAZCRvrXoj8qCdxgyiVKi0DnipvcETUIserT5LNbOOJetaFejjAHVcZEURNrqPrb8_tjfsfqAyw2yynp5hDFXzbsSFSmxYy2gkI/s400/Project++organization2.jpg" style="cursor: hand; display: block; margin: 0px auto 10px; text-align: center;" /><br />
The Project Board is the group responsible for ensuring project/program goals are achieved and providing support for addressing escalated risks and issues.<br />
<br />
The three project interests must be represented on the project board at all times.<br />
<ol>
<li>Business</li>
<li>User</li>
<li>Supplier</li>
</ol>
The project executive / executive sponsor is ultimately responsible for the project supported in the Project Board by the Senior User and Senior Supplier. He or She owns the Business Case and balances the demands of the User, Supplier and Business . Their responsibilities include: <br />
<ul>
<li>approve Project Board </li>
<li>ensuring tolerance is set in the Project Brief </li>
<li>approving End Project Report and Lessons Learned Report </li>
<li>organising and chairing Project Board meetings </li>
<li>acts as communication channel to the Program </li>
<li>ensuring business assurance is met - i.e. that the project is delivered in time and on budget, meeting the Business Case </li>
<li>informing the project of any Program influences </li>
</ul>
The senior supplier is a member of the Project Board along with Project Executive and Senior User. The Senior Supplier represents the interests of those designing, developing, facilitating, implementing and possibly operating theprojects products. They are responsible for:<br />
<ul>
<li>agreeing the objectives for the supplier activities</li>
<li>needs to ensure the project achieves the results required by the Senior User </li>
<li>ensures that the designs and proposals are realistic within the cost and time parameters for which the Project Executive is accountable </li>
<li>represents the interests of those designing, developing, procuring, implementing and possibly those maintaining and operating the supplier products </li>
<li>if there is more than one supplier there may need to be more than one Senior Supplier </li>
</ul>
The Senior User Represents the Users needs and expectations, ensuring these are meet within the constraints of the Business Case; They are responsible for:<br />
<ul>
<li>Promoting and maintaining focus on the desired project outcome</li>
<li>should re-evaluate the priority of a Project Issue after impact analysis </li>
<li>can be asked by the Project Manager to canvas the Project Board for agreement to implement a Project Issue </li>
<li>is accountable for any products supplied by the Users (i.e. defined requirements) </li>
<li>providing User resources and ensuring that the solution will meet User needs within the constraints of the Business Case</li>
<li>ensuring the products and outcomes provide the expected User benefits </li>
<li>Project Assurance from a User perspective </li>
<li>May be represented in some cases by more than one person</li>
</ul>
A Program Board can have a slightly different composition depending on what type of program it is. However the basic responsibilities are the same as the project board with each perspective being taken into account on program decisions.<br />
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<img alt="" border="0" id="BLOGGER_PHOTO_ID_5040778720929277938" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjI6ifCooeAKaZZlP8OhhSpzE550fuKPq5zCNk9oSCN0mIsgLwhMnb7RRYwJbND0SMbPlsAXk1PJuxmTiOj6h-LWEVxcKfVZbiOO7HiMeVH1GhCf1M1j7aqpuJjlmlFn5xe9UbClFcz_QE/s400/program+organization.jpg" style="cursor: hand; display: block; margin: 0px auto 10px; text-align: center;" /><br />
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Primary responsibilities of the Program Board / Steering Committee Executive are:<br />
<ul>
<li>Appoints and defines delegated authority of: the Program Manager, Program Executive, Program Director and Program Assurance (if delegated by the Program Sponsor)</li>
<li>Approves budgets and sets financial tolerances</li>
<li>Monitors overall Program progress and ensures corrective action is taken as required</li>
<li>Monitors overall financial status and ensures action is taken as required</li>
<li>Owns overall Program changes, risks, issues, dependencies and constraints and ensures appropriate action is taken</li>
<li>Ensures the Program is aligned with the needs of both the Client’s and the Supplier’s Businesses (win:win) and will achieve the objectives that have been set</li>
<li>Sets and monitors priorities for the Program</li>
<li>Approves proposed changes to the Program scope and subsequent Program plans and time-scales</li>
</ul>
The <strong>Program Manager</strong> reports to the Steering Committee Executive and Executive Sponsor. The role manages overall program delivery and carries out day-to-day management of the Program. It is the key link betwee projects and the Program.<br />
Primary responsibilities are:<br />
<ul>
<li>Provides the program team with direction and ensures effective communication of that direction (leadership).</li>
<li>Ensures that the program management environment is put in place (e.g. relevant evelopment processes are implemented effectively across the program).</li>
<li>Ensures adequate resourcing of the Program and constituent Projects</li>
<li>Secures Contractor/Supplier resources for the Program</li>
<li>Monitors changes in the Program component projects.</li>
<li>Monitors risks, focussing on dependencies and constraints between projects.</li>
<li>Ensures that the constituent projects interface successfully with each other and with the wider business environment (i.e. that dependencies and interfaces between them are managed at a program level).</li>
<li>Addresses cross-project issues including resourcing conflicts (e.g. staff, business time, release slots) and declared or actual slippage against dependencies and program level deliverables.</li>
<li>Authorises and monitors expenditure of the Program budget (in line with the agreed delegated financial authority)</li>
<li>Agrees appropriate program level deliverables (e.g. technical and quality strategies)</li>
<li>Liaises with Program Assurance as appropriate. </li>
<li>Reports program status to the Program Board and Program Executive</li>
</ul>
The <a href="https://www.blogger.com/null" name="_Toc32923302"><strong>Program Office Manager</strong></a> reports to the Program Manager, with overall responsibility for the Program Office which is a key function providing a ‘centre of excellence’ for the program and its delivery objectives. Integration and consistency of information is vital for informing management decisions, The Program Office is responsible for all aspects of information and knowledge management across the program.It is possible for this role to be extended to cover the wider aspects of Program Control.<br />
<br />
Primary responsibilities are:<br />
<ul>
<li>Manages the following functions at Program level<br />o Program Plan<br />o Program Budget</li>
<li>Provides the Program with specific Programme/Project Management processes, procedures and standards for the production of:<br />o Program Plans<br />o Project Plans<br />o Work Packages (Projects)<br />o Highlight Reports<br />o Program Board status reports</li>
<li>Maintains an accurate and timely record of Program status in terms of:<br />o Plans<br />o Changes<br />o Budget<br />o Costs<br />o Work Packages<br />o Products Delivered<br />o Risks and Issues<br />o Resources (timesheets)</li>
<li>Ensures that the Product Review process for the Program is managed efficiently and effectively</li>
<li>Manages the Program Document Library and ensures that it is available at the point of use</li>
</ul>
The <strong>Business Change Manager </strong>provides valuable user-side input and assurance to the projects within the program. The business change manager may even fulfill the senior user role for some programs. The role of the business change manager often call the Change Agent has responsibility for benefits definition and management throughout the program.<br />
The typical responsibilities of a Business Change Manager are:<br />
<ul>
<li>Ensure Program meets sponsoring group’s requirements</li>
<li>Work with Program director and Project Managers to deliver and sustain the defined benefits for the areas they are responsible for</li>
<li>Work with the Program Manager to identify how the benefits will be realised and sustained</li>
<li>Work with the program manager to ensure that the portfolio of projects, initiatives or work packages that the program contains will provide the ability to deliver the required program benefits</li>
<li>Assist the program manager to identify benefits that may be common to more than one program / project</li>
<li>Assist the Program Manager in identifying any duplicated activities that may exist in the portfolio in respect of realising benefits</li>
<li>Plan and implement any preparatory work needed to ensure the areas that they are responsible for are prepared to deal with any revised business processes or ways of working that are required to achieve the defined benefits</li>
<li>Establish the way that the benefits will be delivered and how the impact of these benefits can be assessed.</li>
<li>Ensure that as the projects, initiatives or work packages are delivered the business areas achieve the planned improvements in new or existing business processes</li>
<li>Lead all the activities needed to achieve the benefits and ensure that activities are in place to ensure sustainability</li>
</ul>
Business change managers should also have the change management skills amd enough experience to be able to bring order to complex situations and maintain focus on the programs objectives.<br />
Establishing the optimum organization for a program means defining the roles and responsibilities and governance structures. The organization, structures and roles discussed in this blog provide the basis for effective project / program management. They are not intended to be used as is but with some tailoring to suit the project and program. This can be done as part of the project / program initiation stages.Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com1tag:blogger.com,1999:blog-2757424062369305060.post-18408034851952361902008-05-29T10:24:00.000-04:002016-06-04T06:28:55.522-04:00What is the Difference between Projects and Programs?When I talk to Project and Business Managers about program management they often ask questions like:<br />
<ul>
<li>"Are programs just big projects and shouldn't we manage them like that?" or</li>
<li>"What is the difference between projects and programs?" </li>
</ul>
The PMI definitions of a Project and a Program are:<br />
<ul>
<li>A project is a temporary endeavour undertaken to create a unique product, service or result such as implementation of a solution, infrastructure etc.</li>
<li>A Program is a group of related projects managed in a coordinated way to obtain benefits and control not available from managing them individually. Programs may include elements of related work outside the scope of the discrete projects in the program (such as transition to operations and then ongoing until the benefits are realised). </li>
</ul>
The PMI definitions for Project and Program Management are:<br />
<ul>
<li>Project Management is the application of knowledge skills, tools and techniques to project activities to meet the project requirements.</li>
<li>Program Management is the centralised coordinated management of a program to achieve the programs strategic objectives and expected benefits.</li>
</ul>
The diagram below illustrates the context of Programs as a vehicle for delivering strategy and consequently program management.<br />
<br />
<img alt="" border="0" id="BLOGGER_PHOTO_ID_5059033272912698162" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj3y0rZIhPdqulGxIHG4YqOvNqy4ORbH_R2ZwHGVv6s7NyBlQNhhVYjdzJc3XIlsfrE6-ATT8Rh0RNx7Bw-DazuVGVTobSXQBxlOMPJ1W6CGqP3RydhcQngKAR8OPR-VjUK4cDeo3QAcaA/s1600/Program-context.jpg" style="display: block; margin: 0px auto 10px; text-align: center;" /><br />Another key difference between program's and projects is the focus of the management. <br />
Program and project managers differ in their perspective, the lists below highlight the differences. <br />
<ul>
<li>Projects have a narrow scope with specific deliverables. Programs have a wide scope that may have to change to meet the benefit expectations of the organization.</li>
<li>The project manager tries to keep change to a minimum. Program managers have to expect even embrace change.</li>
<li>Project success is measured by budget, on time, and products delivered to specification. Progam success is measured in terms of Return On Investment (ROI), new capabilities, benefit delivery</li>
<li>Project leadership style focuses on task delivery and directive in order to meet the success criteria. Program leadership style focuses on managing relationships, conflict resolution. Program manager’s need to facilitate and manage the political aspects of the stakeholder management.</li>
<li>Project managers manage technicians, specialists etc... Program managers manage project managers </li>
<li>Project managers are a team player motivating by knowledge and skills. Program managers are leaders providing vision and leadership</li>
<li>Project managers conduct detailed planning to manage the delivery the products of the project. Program managers create high level plans providing guidance to projects where detailed plans are created.</li>
<li>Project managers monitor and controls tasks and the work of producing the projects products. Program managers monitor projects and ongoing work through governance structures. </li>
</ul>
The basic difference is that programs are responsible for delivering outcomes (benefits, new capabilities) whereas projects are primarily responsible for delivering solutions or products that enable the outcsomes to be achieved.<br /><br />Programs are a means of achieving organizational goals and objectives, often in the context of a strategic plan. Projects are a means of achieving tactical goals and objectives.<br />
These fundamental differences mean that managing a program is not just BIG PROJECT MANAGEMENT.Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-45230075497673881952008-05-14T12:42:00.000-04:002008-06-13T09:50:48.723-04:00Project Early Warning SystemI have written several PM articles for AllPM.com and early this year the editor emailed me and asked if I could contribute something in January to help them through the slow month. I agreed and wrote an article on issue management.<br /><br />Unfortunately they get the copyright of articles on the web, so rather than duplicating the article I thought a link would help. Also it saves me having to write a entry :~)<br /><br />The title on this entry is linked to the article in the January edition of Allpm.com.<br /><strong><em>Click on the title to go to the article</em></strong>.Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com0tag:blogger.com,1999:blog-2757424062369305060.post-36720829337740518632008-05-05T15:04:00.000-04:002008-06-13T09:47:28.322-04:00Foundation for Project SuccessSuccessful project delivery seems to elude many project managers both professional and amatuer. This post hopes to promote some discussion on how the success of a project is shaped during its initiation.<br /><br />PRINCE2 (UK Project Management Standard) starts by defining Projects as:<br /><br /><ul><li><em>'management environment that is created for the purpose of delivering one or more business products according to a specified business case'</em></li></ul><p>Another definition provided in the PRINCE2 manual defines a project as:</p><ul><li><em>'a temporary organization that is needed to produce a unique and predefined outcome or result at a pre-specified time using predetermined resourcs'</em></li></ul><p>PMI(Project Management Institute) defines a project as:</p><ul><li><em>'A temporary endeavour undertaken to create a unique product, service or result'</em></li></ul><p>Either of these standards provide definitions that focus on the temporary nature and the unique product or outcome. This temporary nature and uniqueness often requires people who are going to come together temporarily and collaborate to build or achive the unique result. </p><p>Instantly we are thinking (well those who are PM minded); how do we identify the people/resources needed, how do I communicate the need to collaborate and ensure they all understand the objectives, scope of the products/results/outcome, the constraints we have to work within such as time, cost and quality?</p><p>The simple answer is you need to conduct some sort of pre-project planning and project initiation in order to answer those questions and establish the temporary infrastructure for the team to operate within. What should be included in the pre-project pleanning and project initiation? Rather than re-inventing the wheel lets turn to an establish Project Management Frameworks such as PRINCE2 to provide us with process definitions , inputs, outputs and the guiding principles already.</p><p>The Project Management Framework(PMF) should not cover the specialist techniques used to create the technical products or outcomes as this is the job of other methods. The PMF should focus on the management of the project and its resources being involved in carrying out the project tasks and activities.</p><p>PRINCE2 is a useful framework because it has been developed to be a PMF within a contract context and many projects are run within contracting context. </p><p>PRINCE is an abbreviation of <strong>PR</strong>ojects <strong>IN</strong> a <strong>C</strong>ontrolled <strong>E</strong>nvironment. The controlled environment within PRINCE2 extendeds to include a controlled start, controlled progress and controlled closure. This project control is supplemented by the well defined governance structure that provides a controlled project assurance. <span style="font-size:85%;"><em>(The number 2 on PRINCE2 came about when it released version two. This practice was stopped at Version 2.)</em></span></p><p><strong><u>Starting Up a Project (SU)</u></strong></p><p>Prince2 has a process called 'Starting Up a Project' to help start build the foundations for the project. The process produces six key elements:</p><ul><li>Designing and appointing the project management team</li><li>Assembling the project brief</li><li>Establishing the project approach</li><li>Establishing the customers quality expectations</li><li>Setting up the project risk log</li><li>and creating the Plan for the Initiation Stage</li></ul><p>There are several tips for scaling the process depending on the possible initiation point:</p><ol><li>In a standalone project then all the steps of the process can be applied.</li><br /><li>If the project is part of a program they program can pass down the documentation either as a complete project brief or even a project initiation document (project plan in PMI terms). The program management may have already decided the project approach and the risk log could be included in the program risk log. In this case this process can just be a check to whether any more work needs to be done on the start up products.</li><br /><li>The 3rd possibility is that the project is very small. In such cases the process can be usually be handled in an informal manner, possibly just taking a few minutes. A project manager should avoid the templates and bypass the process going straight to the Initiating a Project (IP) process.</li></ol><p><strong><u>Initiating a Project </u></strong></p><p>This process aims at laying the foundations for the delivery of the project products/outcomes. It follows the Starting Up a project (SU) process within the framework. Its purpose is to draw up the contract between the project board and the project manager and the organization receiving the products so there is a common understanding of:</p><ul><li>The reasons for doing the project</li><li>What key products the project will produce</li><li>How and when these will be delivered and at what cost</li><li>The scope of what is to be done</li><li>Any constraints that apply to the product/outcome</li><li>Any constraints that apply to the project</li><li>Who is involved in project decision making</li><li>How the quality required by the customers will be achieved</li><li>What risks the project will be facing</li><li>How is the project to be controlled through governance structures</li><li>Who will receive what communications</li><li>The production of plans in detail for next stage and in outline for the rest of the project</li></ul><p>The PRINCE2 manual provides advice on scalability similar to Starting Up a Project (SU) the advice depends on the trigger and size of the project.</p><p>The processes within IP are:</p><ul><li>IP1 - Planning Quality</li><li>IP2 - Planning a Project</li><li>IP3 - Refining the Business Case</li><li>IP4 - Setting up Project Controls</li><li>IP5 - Setting up Project Files</li><li>IP6- Assembling a Project Initiation Document (PID) </li></ul><p><u><strong>Project Governance</strong></u></p><p></p>Project Governance is the process of developing, communicating, implementing, monitoring, and assuring the policies, procedures, organizational structures, and practices associated with a given project. The result is a framework for efficient and effective decision-making and delivery management focused on achieving project goals in a consistent manner, addressing appropriate risks and stakeholder requirements.<br /><br />The Project Board is the group responsible for ensuring project goals are achieved and providing support for addressing project risks and issues.<br /><br /><span style="font-size:85%;"><em>Click on the image to enlarge<br /></em></span><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizlThQ7riIpY3I2Ztpj4ie07tPUfG0GwDhZFbzYJvt8i81JjuJ2u_gckHIyyH2gkl_f99LjY2yP7BBRb7A-WUPIm24ujnWy2O8YuPAxPU5jv0vCSQMGkCmJ144n6aXoBJPstaHdtL3M00/s1600-h/Project++organization.jpg"><img id="BLOGGER_PHOTO_ID_5038270880235839426" style="FLOAT: left; MARGIN: 0px 10px 10px 0px; CURSOR: hand" alt="" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEizlThQ7riIpY3I2Ztpj4ie07tPUfG0GwDhZFbzYJvt8i81JjuJ2u_gckHIyyH2gkl_f99LjY2yP7BBRb7A-WUPIm24ujnWy2O8YuPAxPU5jv0vCSQMGkCmJ144n6aXoBJPstaHdtL3M00/s400/Project++organization.jpg" border="0" /></a><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br /><br />Within PRINCE2 there is a process group that the Project Board is responsible for. This process is called Directing a Project (DP) and this process will be discussed in another posting.<br /><br /><strong><u>Summary</u></strong><br /><br />Project initiation provides a firm foundation for a project's success and research by NASA on project planning has shown that project success depends on sound planning during project initiation.<br /><br />A controlled start depends on establishing the core structures and products that will be used to manage the delivery of the project's products / outcomes. The project initiation is an essential process for all projects however scalability can reduce the tasks from production of documents to review and update when Project Initiation Documents and the associated plans are provided for the project manager to use.<br /><br />The key to a project's success largely depends on a successful project initiation and the establishment of the project organisation and documents and plans.Anonymoushttp://www.blogger.com/profile/10679087245533081769noreply@blogger.com1