- As an IT leader, you oversee a project environment in which the organizational demand for new products, services, and enhancements far outweighs IT’s resource capacity to adequately deliver on everything.
- As a result, project throughput suffers. IT starts a lot of projects, but has constant difficulties delivering the bulk of them on time, on budget, in scope, and of high quality. What’s more, many of the projects that consume IT’s time are of questionable value to the business.
- You need a project portfolio management (PPM) strategy to help bring order to IT’s project activity. With the right PPM strategy, you can ensure that you’re driving the throughput of the best projects and maximizing stakeholder satisfaction with IT.
- IT leaders commonly conflate PPM and project management, falsely believing that they already have a PPM strategy via their project management playbook. While the tactical focus of project management can help ensure that individual projects are effectively planned, executed, and closed, it is no supplement for the insight into “the big picture” that a PPM strategy can provide.
- Many organizations falter at PPM by mistaking a set of processes for a strategy. While processes are no doubt important, without an end in mind – such as that provided by a deliberate strategy – they inevitably devolve into inertia or confusion.
- Executive layer buy-in is a critical prerequisite for the success of a PPM strategy. Without it, any efforts to reconcile supply and demand, and improve the strategic value of IT’s project activity, could be quashed by irresponsible, non-compliant stakeholders.
Impact and Result
- Manage the portfolio as more than just the sum of its parts. Create a coherent strategy to maximize the sum of values that projects deliver as a whole – as a project portfolio, rather than a collection of individual projects.
- Get to value early. Info-Tech’s methodology tackles one of PPM’s most pressing challenges upfront by helping you to articulate a strategy and get executive buy-in for it before you define your process goals. When senior management understands why a PPM strategy is necessary and of value to them, the path to implementation is much more stable.
- Create PPM processes you can sustain. Translate your PPM strategy into specific, tangible near-term and long-term goals, which are realized through a suite of project portfolio management processes tailored to your organization and its culture.
After each Info-Tech experience, we ask our members to quantify the real-time savings, monetary impact, and project improvements our research helped them achieve. See our top member experiences for this blueprint and what our clients have to say.
Average $ Saved
Average Days Saved
Time is money; spend it wisely.
This course makes up part of the PPM & Projects Certificate.
- Course Modules: 4
- Estimated Completion Time: 2-2.5 hours
- Featured Analysts:
- Barry Cousins, Sr. Research Director, Applications Practice
- Gord Harrison, SVP of Research and Advisory
Onsite Workshop: Develop a Project Portfolio Management Strategy
Onsite workshops offer an easy way to accelerate your project. If you are unable to do the project yourself, and a Guided Implementation isn't enough, we offer low-cost onsite delivery of our project workshops. We take you through every phase of your project and ensure that you have a roadmap in place to complete your project successfully.
Module 1: Get Executive Buy-In for Your PPM Strategy
- Choose the right PPM strategy for your organization and ensure executive buy-in.
- Set process goals to address PPM strategic expectations and steer the PPM strategic plan.
Key Benefits Achieved
- A right-sized PPM strategy complete with executive buy-in for it.
- A prioritized list of PPM process goals.
Assess leadership mandate.
- Choice of PPM strategy and the leadership mandate
Determine potential resource capacity.
- Analysis of current project capacity
Create a project inventory.
- Analysis of current project demand
Prepare to communicate your PPM strategy to key stakeholders.
- PPM Strategic Plan – Executive Brief
Translate each strategic goal into process goals.
- PPM strategy-aligned process goals
Set metrics and preliminary targets for PPM process goals.
- Metrics and long-term targets for PPM process goals
Module 2: Align PPM Processes to Your Strategic Goals
- Examine your current-state PPM processes and create a high-level description of the target-state process for each of the five PPM processes within Info-Tech’s PPM framework.
- Build a sound business case for implementing the new PPM strategy by documenting roles and responsibilities for key PPM activities as well as the time costs associated with them.
Key Benefits Achieved
- Near-term and long-term goals as well as an organizationally specific wireframe for your PPM processes.
- Time cost assumptions for your proposed processes to ensure sustainability.
Develop and refine the project intake, prioritization, and approval process.
- Process capability level
Develop and refine the resource management process.
- Current-state PPM process description
Develop and refine the portfolio reporting process.
- Retrospective examination of the current-state PPM process
Develop and refine the project closure process
- Action items to achieve the target states
Develop and refine the benefits realization process.
- Time cost of the process at current and target states
Module 3: Complete Your PPM Strategic Plan
- Perform a PPM tool analysis in order to determine the right tool to support your processes.
- Estimate the total cost-in-use of managing the project portfolio, as well as the estimated benefits of an optimized PPM strategy.
Key Benefits Achieved
- A right-sized tool selection to help support your PPM strategy.
- A PPM strategy cost-benefit analysis.
Right-size the PPM tools for your processes.
- Recommendation for a PPM tool
Conduct a cost-benefit analysis of implementing the new PPM strategy.
- Cost-benefit analysis
Define roles and responsibilities for the new processes.
- Roles and responsibilities matrix for each PPM process
Refine and consolidate the near-term action items into a cohesive plan.
- An implementation timeline for your PPM strategy