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Stop the Insanity: A Treatment Plan for Portfolio Management Anxiety
Featured Presenter:Terry Melnik
VP of Client StrategyPowerSteering Software
Welcome! Thank you for joining us. A few things to note before we start:
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You may submit questions using the Q&A panel in the bottom right. Questions will be addressed at the end of the session.
We will email the slides and recording to all attendees within a few days.
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STOP THE INSANITYA Treatment Plan forPortfolio Management Anxiety
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Presented byTerry MelnikVP of Client Strategy
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IT GovernanceNew ProductDevelopment
PerformanceImprovement
Business PMOProfessional Services
Automation
Business‐Driven PPM Clients
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Agenda
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Too Much Demand – Dealing with A Key Stressor
Conflicting Priorities – Taking Control
Resource Optimization – It’s going to be OK
Financial Anxiety – Delivering Tangible ROI
Planning for the Future – Where do you see your portfolio in 5 yrs?
Reaching Portfolio Nirvana
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“Imagine you’re sitting in a wide open field, all alone, and able to collect your thoughts…”
A Clean Slate
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“Imagine you’re sitting in a wide open field, all alone, and able to collect your thoughts…”
No Active Projects
All Resources Available
All Budgets Open
All Projects Prioritized Clearly
A Clean Slate
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TOO MANY DEMANDS
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Dealing with a Key Stressor
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The PPM Challenge
Organizational Structures
Functional ViewO
ther Stakeholders
Business Segments
Business Units
Geographic Markets
Innovation / R&D
Sales
Operations
Strategic Planning
Finance
Risk
Product Lines
Marketing Dem
and
Resources ?Results
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Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
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The Foundation
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• Do I have a definitive list of all projects and their details underway?
• Is this list up to date?• Do I know which project is most important? How do I even
define which project is most important?• Do I know how much effort each will take to complete?• Which resource type or role is most limited?
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Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources.
What is the best combination of resources and actions we can use to maximize output and delivery?
Why Selection is Important
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Being Pulled in Different Directions ‐ Priority, Budget, Resources, Time
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CONFLICTING PRIORITIESTaking Control
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What We Hear
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I need my project done now!
We’re running behind!
I can’t wait for the next release! I need more
people!
This is the most important project!
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Understanding Different Prioritization Methods is Key
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Articulating Priority
Talking their language:
Rank: Each opportunity sorted against each other
Shareholder Value: How supportive is the sponsor behind this initiative?
Scorecard Value: Score using a common comparison
Financial Value: ROI, NPV, Net Benefits
Resource Needs: How many people, FTEs, specific roles do we need to do this project?
Strategic Value: How well does this project align with our goals?
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RESOURCE OPTIMIZATIONIt’s Going To Be OK
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Resource Management Options
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At the Project Level
At the Phase Level
At the Task Level
Less granularLess complexLess overhead
More granularMore complex
More governance
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What is the current and upcoming demand on each key resource type?
Get Ahead of the Curve
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The Problem With Resource Leveling
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By the way…you should never do this…
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Commitment
Loyalty
Personal Investment
Team Momentum
Team Synergy
We’re Only Human
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FINANCIAL ANXIETYDelivering Tangible ROI
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Financial andOperational Elements
Financials
Actual Spend
Actual Benefits
ROI
TCO
Value
CustomerSatisfaction
Goal Attainment
KPIs(Customer Satisfaction,
Market Share, Compliance)
Are we realizing the expected value and benefit?
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Successful Benefits Realization
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Show Me The Money!
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PLANNING FOR THE FUTUREWhere Do You See Your Portfolio in Five Years?
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The Five Year Plan Myth
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Hoshin Kanri(Compass Control)
(Direction, Execution)
Crystal ballin’(stick your thumb in the air)
VS.
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The Five Year Plan
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Successful Execution
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REACHING PORTFOLIO NIRVANA
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Organizational Structures
Functional ViewO
ther Stakeholders
Business Segments
Business Units
Geographic Markets
Innovation / R&D
Sales
Operations
Strategic Planning
Finance
Risk
Product Lines
Marketing Dem
and Analyze
OptimizedDelivery $
DocumentedImprovedResults
An efficient governance process will create an optimized funnel of delivered services, often resulting in 5% - 30% improvements in cost, benefits, productivity, and service levels…*
IT Governance
* Documented by Gartner, McKinsey, Forrester, Customer Testimonials, and others
IT Services
Fine Oiled Machine
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Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
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Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
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1. Implement a system for understanding stakeholders’ objectives. Use it to prioritize projects
2. Conduct a study to gather all resource’s skill sets: abilities, levels, interests
3. Keep looking far forward; Identify resource bottlenecks early
4. Consider financials as both cost investment and benefits yielded when reporting on financials
5. Don’t forget, you’re only human…
Homework: 5 Action Items
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Closing Recommendation
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QUESTIONS?
Please submit your questions via the Q&A panel.
We will email the recording & slides to all participants within a few business days.
To contact today’s speaker directly, email [email protected].
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