From project to portfolio management - how to successfully bridge the gap webinar, 22 January 2020

Association for Project Management
Association for Project Management Association for Project Management
Gillian Austin-King
22 January 2020
From Project Management to Portfolio Management
How to successfully bridge the gap
From Project Management to Portfolio Management
How to successfully bridge the gap
2
Introduction and welcome
From Project Management to Portfolio Management
How to successfully bridge the gap
3
Topic Slide
◆ Spot the difference - Key characteristics
◆ Project Management………………………….………
◆ Programme Management……………………………
◆ Portfolio Management………………………………..
4
5
6
7
◆ Moving up the chain – Pitfalls to avoid…………………….. 8
◆ You’ve got this – utilising your existing skill set .…………. 9
◆ Tools and support…………………………………………..... 10
◆ Conclusion……………………………………………………….. 11
◆ Questions………………………………………………………… 12
Agenda :
4
Spot the difference: Key characteristics
• In order to successfully move from project management to portfolio management, it is essential to understand what the key characteristics (and differences) are between
them, as well as how they link together.
Project
Programme Portfolio
From Project Management to Portfolio Management
How to successfully bridge the gap
A project is a “temporary
endeavour undertaken to
create a unique product,
service or result.” A project
is designed to achieve a
specific objective and has a
defined beginning and end.
Source: Project Management
Institute (PMI)
A programme is “a group of related
projects managed in a coordinated
manner to obtain benefits not available
from managing them individually.”
Programmes often:
• Have strategic business objectives
that are transformational in nature
• Cross departments or business units
Source: Project Management Institute (PMI)
A project portfolio is the group of
projects being worked on by an
organisation.
Source: Project Management Institute (PMI)
The responsibilities of a project manager may
include:
5
Project Management
Project Management Characteristics
The Project Manager
From Project Management to Portfolio Management
How to successfully bridge the gap
• Definition of project goals
• Intake and management of requirements
• Breakdown and scheduling of tasks
• Budget and cost management
• Assignment and management of project resources
• Communication of project status against milestones
…is the discipline of using principles and procedures to manage
a project from conception through to delivery of an outcome,
such as an application, event, product or service.
Characteristics include:
The responsibilities of a project manager may include:
• Project scoping, scheduling, and approvals
• Resource management
• Budget management
• Risk management
• Status reporting to team members and stakeholders
6
The Programme ManagerProgramme Management
Programme Management Characteristics
From Project Management to Portfolio Management
How to successfully bridge the gap
The role of programme manager varies depending on the
organisation. Some organisations emphasise the business aspects
of the role. Others focus on an IT or technology programme
managers lead the end-to-end charge of the cross-functional
programme, from shaping the approach to delivery of the set of
desired outcomes. The programme manager also has responsibility
for:
…is the coordinated management of projects and change
management activities to achieve beneficial change*.
Characteristics include:
*Source: APM
• A wide scope, focussed on delivery of a capability
that will make possible the realisation of business
benefits
• Longer timescales than projects
• Plans are higher level which provide guidance and
oversight of component projects, allowing
identification and resolution of conflicts and
interdependencies between projects
• Control monitors component projects and on-going
work through governance structures
• Project coordination: identifying, initiating, accelerating,
decelerating, redefining and terminating projects within
the programme. Managing interdependencies between
projects, and between projects and BAU activities
• Transformation: taking project outputs and managing
change within BAU so that outputs deliver outcomes;
• benefits management: defining, quantifying, measuring
and monitoring benefits;
• stakeholder management and communications: ensuring
that relationships are developed and maintained, thus
enabling productive, two-way communication with all key
stakeholders.
“Up close a mosaic is just another piece of broken glass” – Geoff Reiss
7
The Portfolio ManagerPortfolio Management
Portfolio Management Characteristics
From Project Management to Portfolio Management
How to successfully bridge the gap
…is a formal approach to orchestrate, prioritise, and analyse the
potential value from a set of projects. An organisation that
employs project portfolio management centralises the
identification, prioritisation, authorisation, and management of
projects within a portfolio.
A portfolio manager is responsible for managing and leveraging the
life cycle of investments, initiatives, programmes, projects, and
outcomes to optimally achieve enterprise goals and objectives.
• Operational changes are agreed at the appropriate
level and contribute to at least one strategic objective;
• Strategic decisions are based upon a favourable
balance between strategic benefits on the one hand,
and the costs, risks and impacts on business as usual
on the other hand;
• Resources and changes initiatives are prioritised to
ensure they contribute to strategic objectives;
• All change initiatives are frequently reviewed to ensure
they remain strategically aligned.
8From Project Management to Portfolio Management
How to successfully bridge the gap
Moving up the chain – pitfalls to avoid
◆ Micromanagement – failure to delegate
◆ Trying to do too much – multi-project planning and control is not about planning and controlling each individual project
◆ Not enough detail or too much
◆ Not responding to a change in strategy
◆ “It doesn’t apply to me”
◆ Blue sky thinking
◆ Mandatory projects – just do it!
◆ Resource mismanagement
◆ Different department conflicts
◆ Managing the politics
9From Project Management to Portfolio Management
How to successfully bridge the gap
You’ve got this – utilising your skill set
◆ Building your own personal brand
◆ Ability to build and manage a business case
◆ Good governance and sponsor
◆ Stakeholder management
◆ Communications
◆ People, teams and leadership
◆ Decision making
◆ Planning
◆ Cost monitoring and financial management
◆ Resource management
◆ Risk management
◆ Change control
Your core project management skills….
10
• Portfolio and Programme Management Demystified, Paul
Rayner and Geoff Reiss, Routledge, 2013
• Project Management vs. Program Management vs. Portfolio
Management, Angie Sarmiento,
https://www.planview.com/resources/articles/project-
management-vs-program-management-vs-portfolio-
management/
Reading MaterialMethods & Tools
Tools and Support
From Project Management to Portfolio Management
How to successfully bridge the gap
◆ Prince2 – Cabinet office
◆ Agile
◆ The Project Management Book of Knowledge
– PMI or APM
◆ Management of Portfolios – Cabinet office
◆ Project management software
He’s got an “ology”
11From Project Management to Portfolio Management
How to successfully bridge the gap
Conclusion
Programme ManagementManagement
From Project Management to Portfolio Management
How to successfully bridge the gap
12
Questions
1 de 12

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From project to portfolio management - how to successfully bridge the gap webinar, 22 January 2020

  • 1. Gillian Austin-King 22 January 2020 From Project Management to Portfolio Management How to successfully bridge the gap
  • 2. From Project Management to Portfolio Management How to successfully bridge the gap 2 Introduction and welcome
  • 3. From Project Management to Portfolio Management How to successfully bridge the gap 3 Topic Slide ◆ Spot the difference - Key characteristics ◆ Project Management………………………….……… ◆ Programme Management…………………………… ◆ Portfolio Management……………………………….. 4 5 6 7 ◆ Moving up the chain – Pitfalls to avoid…………………….. 8 ◆ You’ve got this – utilising your existing skill set .…………. 9 ◆ Tools and support…………………………………………..... 10 ◆ Conclusion……………………………………………………….. 11 ◆ Questions………………………………………………………… 12 Agenda :
  • 4. 4 Spot the difference: Key characteristics • In order to successfully move from project management to portfolio management, it is essential to understand what the key characteristics (and differences) are between them, as well as how they link together. Project Programme Portfolio From Project Management to Portfolio Management How to successfully bridge the gap A project is a “temporary endeavour undertaken to create a unique product, service or result.” A project is designed to achieve a specific objective and has a defined beginning and end. Source: Project Management Institute (PMI) A programme is “a group of related projects managed in a coordinated manner to obtain benefits not available from managing them individually.” Programmes often: • Have strategic business objectives that are transformational in nature • Cross departments or business units Source: Project Management Institute (PMI) A project portfolio is the group of projects being worked on by an organisation. Source: Project Management Institute (PMI)
  • 5. The responsibilities of a project manager may include: 5 Project Management Project Management Characteristics The Project Manager From Project Management to Portfolio Management How to successfully bridge the gap • Definition of project goals • Intake and management of requirements • Breakdown and scheduling of tasks • Budget and cost management • Assignment and management of project resources • Communication of project status against milestones …is the discipline of using principles and procedures to manage a project from conception through to delivery of an outcome, such as an application, event, product or service. Characteristics include: The responsibilities of a project manager may include: • Project scoping, scheduling, and approvals • Resource management • Budget management • Risk management • Status reporting to team members and stakeholders
  • 6. 6 The Programme ManagerProgramme Management Programme Management Characteristics From Project Management to Portfolio Management How to successfully bridge the gap The role of programme manager varies depending on the organisation. Some organisations emphasise the business aspects of the role. Others focus on an IT or technology programme managers lead the end-to-end charge of the cross-functional programme, from shaping the approach to delivery of the set of desired outcomes. The programme manager also has responsibility for: …is the coordinated management of projects and change management activities to achieve beneficial change*. Characteristics include: *Source: APM • A wide scope, focussed on delivery of a capability that will make possible the realisation of business benefits • Longer timescales than projects • Plans are higher level which provide guidance and oversight of component projects, allowing identification and resolution of conflicts and interdependencies between projects • Control monitors component projects and on-going work through governance structures • Project coordination: identifying, initiating, accelerating, decelerating, redefining and terminating projects within the programme. Managing interdependencies between projects, and between projects and BAU activities • Transformation: taking project outputs and managing change within BAU so that outputs deliver outcomes; • benefits management: defining, quantifying, measuring and monitoring benefits; • stakeholder management and communications: ensuring that relationships are developed and maintained, thus enabling productive, two-way communication with all key stakeholders. “Up close a mosaic is just another piece of broken glass” – Geoff Reiss
  • 7. 7 The Portfolio ManagerPortfolio Management Portfolio Management Characteristics From Project Management to Portfolio Management How to successfully bridge the gap …is a formal approach to orchestrate, prioritise, and analyse the potential value from a set of projects. An organisation that employs project portfolio management centralises the identification, prioritisation, authorisation, and management of projects within a portfolio. A portfolio manager is responsible for managing and leveraging the life cycle of investments, initiatives, programmes, projects, and outcomes to optimally achieve enterprise goals and objectives. • Operational changes are agreed at the appropriate level and contribute to at least one strategic objective; • Strategic decisions are based upon a favourable balance between strategic benefits on the one hand, and the costs, risks and impacts on business as usual on the other hand; • Resources and changes initiatives are prioritised to ensure they contribute to strategic objectives; • All change initiatives are frequently reviewed to ensure they remain strategically aligned.
  • 8. 8From Project Management to Portfolio Management How to successfully bridge the gap Moving up the chain – pitfalls to avoid ◆ Micromanagement – failure to delegate ◆ Trying to do too much – multi-project planning and control is not about planning and controlling each individual project ◆ Not enough detail or too much ◆ Not responding to a change in strategy ◆ “It doesn’t apply to me” ◆ Blue sky thinking ◆ Mandatory projects – just do it! ◆ Resource mismanagement ◆ Different department conflicts ◆ Managing the politics
  • 9. 9From Project Management to Portfolio Management How to successfully bridge the gap You’ve got this – utilising your skill set ◆ Building your own personal brand ◆ Ability to build and manage a business case ◆ Good governance and sponsor ◆ Stakeholder management ◆ Communications ◆ People, teams and leadership ◆ Decision making ◆ Planning ◆ Cost monitoring and financial management ◆ Resource management ◆ Risk management ◆ Change control Your core project management skills….
  • 10. 10 • Portfolio and Programme Management Demystified, Paul Rayner and Geoff Reiss, Routledge, 2013 • Project Management vs. Program Management vs. Portfolio Management, Angie Sarmiento, https://www.planview.com/resources/articles/project- management-vs-program-management-vs-portfolio- management/ Reading MaterialMethods & Tools Tools and Support From Project Management to Portfolio Management How to successfully bridge the gap ◆ Prince2 – Cabinet office ◆ Agile ◆ The Project Management Book of Knowledge – PMI or APM ◆ Management of Portfolios – Cabinet office ◆ Project management software He’s got an “ology”
  • 11. 11From Project Management to Portfolio Management How to successfully bridge the gap Conclusion Programme ManagementManagement
  • 12. From Project Management to Portfolio Management How to successfully bridge the gap 12 Questions