Earned Value and Portfolio Management - What does it look like - David Dunning
This is one of many excellent presentations given over the last three years of the eVa in the UK series. They can also be found in the archive at: http://evaintheuk.org/archive along with back-copy video footage in http://evaintheuk/pmchannel EVA19, the long established Earned Value conference, has this year described its theme as looking at a project management ‘ABC’ – Agile, Benefits and Complex. The four day event, which returns to the Armourers Hall, runs from the 19th to 22nd of May with the flagship conference being held on 20th and 21st May and workshops before and after. The conference will look at how this ‘ABC’ can be made to work within a portfolio and how agile fits into major and minor projects. It will investigate how to manage the relationship between portfolio benefits and project budgets, and whether complex projects even exist. Conference organiser and APM chairman, Steve Wake says: “Currently there is little evidence that this ‘ABC’ is being effectively deployed and managed. This conference aims to address that concern through EVA’s trademark blend of learning and professional development. Case studies and unusual presentations, delivered by top-notch speakers and experienced practitioners, will again engage and entertain the audience. We’ve used string quartets to illustrate points in the past and this year we will be using a Blues band for the first time.” Speakers across the two days include many familiar faces from the APM events programme including; Adrian Pyne of the APM ProgM SIG ‘Changing the project wasteland with a portfolio culture that works,’ APM Honorary Fellow Tim Banfield Director at the Major Projects Authority and Stephen Jones, Sellafield and Planning Monitoring and Control Specific Interest Group (PMC SIG) and Carolyn Limbert of the APM PMC SIG to talk about agile, benefits and complex. Peter Taylor, the Lazy Project Manager will be presenting on “The project manager who smiled” and the ever popular Stephen Carver will present the leadership lessons that can be learnt from Alfred the Great. In addition, there will be speakers from AIRBUS, TfL, Bloodhound, Heathrow T2 and London Tideway Tunnels. The conference will be supplemented by a number of workshops being held at the Chartered Institute of Arbitrators, Bloomsbury Square on Monday 19th and Thursday 22nd May 2014. 'eVa in the UK' http://evaintheuk.org is building a reputation, brand and a learning legacy for the Project Management Profession. The event series is now in its nineteenth year. It is almost as if it all kicked-off when Steve Wake was in short trousers and knights roamed the land on their chargers! #eva19 is an excellent example of Listening, Learning and Leading #apmLLL in action, and great opportunity for professional development. I would encourage anyone who is interested in 'Building a better Project Manager,' to take a look at the web site book your place and get involved.
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Earned Value and Portfolio Management - What does it look like - David Dunning
- 1. Earned Value and Portfolio Management ‐ What does it look like? Presented by David Dunning, Professional Services Director, CPS With the release of the P3O® Best Practice guidance through its first anniversary, the release of MoP, and the continual necessity to focus on the right projects and programmes for scarce business resources, how do the enablers for portfolio management help us with Earned Value Management as a set of delivery controls? How do I get on the road to this and how can I make a case to a sceptical organisation? P3O® and MoP® are Registered Trade Marks of the Office of Government Commerce.
- 2. Corporate Project Solutions • People Recruitment – Permanent – Interim positions Training – Maturity/Capability Assessment – Planning – Process based – Microsoft Project – EPM Administration • Process P3O® Services Change Management P3RM Consulting • Technology Microsoft Platforms – Project Server (EPM) – Project Portfolio Server – MOSS / SharePoint CPS Solutions
- 3. Agenda
- 4. What is Portfolio Management? • “A portfolio is the investment in the changes required to meet strategic objectives “ – P3O® • Portfolio Management ‐ Coordinated strategic processes and decisions to balance organisational change and business as usual • It is not ‘bigger project / programme management’ Context
- 5. Ability to IdentifyBusiness Value Potential (Portfolio Management) Ability to Deliver and Realise Business Benefits (Programme / Project Management) 100% 100% 0% Value Lost Programme and Project Management enables organizations to successfully deliver the selected business value opportunities ‐ THINGS RIGHT Prog. / Project Mgt. Portfolio Management enables organisations to identify and select the investments that will maximise business value – RIGHT THINGS Portfolio Management 60% Value Realised (average company today?)
- 7. EVM – Corporate or local? I can run a project and… •Manually collect data carry out EVA – Time consuming – Aggregation issues – I can do this if I want to… •Hook it into Corporate tools – Clear governed and supported process – Common tools – Common will – hard to do… Corporate or Local?
- 8. Corporately… Good Planning & Estimating (Historical Data) Work Package Management Effective Risk Management Progress Management Baseline / Change Control Actual TimeActual Costs System Interfaces Specialist Reports Standards, Processes and Roles
- 9. What Makes this so difficult? Uncertainty / no relevant historical data Poor Scope statements WBS Design? Ad hoc Risk practices Progress Mgmt Done informally Scope Control? Actual Time - Not collected What is an Actual Cost? System Interfaces? Specialist Reports? Standards, Processes and Roles?
- 10. Benefits of Portfolio Management • Increase the proportion of projects and programmes directly linked to the corporate strategy, saving time / resource from being spent on the ‘wrong’ stuff • Directly save costs through standard, repeatable processes and simplified cost effective reporting • More output from resources through effective prioritisation and efficient scheduling • Directly support measurement of project and programme benefits, maximising what is possible and encouraging the ‘right’ projects in the first place • Initiate cost effective, consistent Governance of projects and programmes to provide assurance of delivery quality making the decision making process more reliable • Saving wasted resources by learning from experience and implementing changes from lessons learned. Benefits
- 11. But ‐ What is the Cx level need? • What is does my strategy mean in terms of Change? Can we actually do it? • How much will Change cost (resource, money, risk)? • What is the value of the Change? (Benefit, revenue, saving) • What happens if something changes? • How am I assured my business system works? • How can I check that Changes are happening?
- 12. Benefits of Portfolio Management to EVM • Highest Level Commitment implicit • Support and Governance provided • Bottom to top reporting is key – Schedule, cost, risk, progress etc. ‐ EV stirred in? – Will to fix the issues!
- 14. Organisation Components • Strategy Office – Do we have “bright buttons” who can assist thought leaders with detail and analysis? – Can we put a high level agreeable strategy in place to work around, then develop further? – How do we publicise this? – How do we change this? • Portfolio, Programme, Project Office – If there is no strategy, can we get down a set of assumptions to be going on with? – Can we supply visibility, scrutiny and oversight? – Can we assist delivery and support? – Can we provide experts to define how to run things?
- 16. What to do to get going… Establish ‘Organisational Will’ at the right level Devise a problem statement – to gain stakeholder engagement Appoint a Senior Responsible Owner – a business person to front the change Appoint a capable Programme Manager – to deliver effectively Set the capability / benefit expectations – so that success can be measured Assess the current state of strategy management and 'P3 organisation’ provision – to make change provision feasible Map out the vision for how the objectives can be met – keeping short and long term needs visible Prepare Benefit Profiles, a Business Case, Programme Brief, Programme Preparation Plan and Vision statement
- 17. How to go about it? • Tranche 1 – contains step 1 in the Vision = CONSOLIDATION – Assessment • Organisation / capability mapping – Design • Initial P3O® Service Level / staffing • PfM, MSP TM , P2 ‐ Processes / Standards • EPM Tools / Reports • Data Migration – P3O® Consolidation • Tranche 2 – commitment to it once there is success of Tranche 1 = ADD THE VALUE REQUIRED Identify Define Design Consolidate P3O® Business Operations Realising the Benefits CONSOLIDATION Design Consolidate P3O® Business Operations Close Realising the Benefits e.g. P3O® Structure Process / Standard Tools Configuration Training Preparation e.g. Data OK Improvement forums Capability assurance Learning / advancement Realising the Benefits – e.g. Awareness Readiness Prerequisite training Training Data Migration Governance Review Assessment Next Tranche Trigger ADD THE VALUE REQUIRED