Project Portfolio Management

Problem:

  • Project initiation is out of control when more projects are started than can be finished

  • "Off the radar" projects can consume 40% of available project hours, robbing critical projects of resources

  • Project status reports are vague and prevent executives from controlling how time and money are spent

  • Critical strategic initiatives are starved for resources

  • Too many projects drift due to confused accountability and murky scope

Solution: 4PM Project Methodology
Implementation with 4PM Consultants

  • Customized tailoring of the methodology to fit your projects, people & strategy

  • Customized in-person or web training in AdPM™ tailored to fit your people and strategy

    • For Executives

    • For Project Managers

    • For Project Team Members

  • Project process consulting & implementation assistance

    • Project Management Office

    • Project Screening & Selection

    • Resource Allocations

    • Early Problem Identification

Key 4PM Portfolio Management Components

4PM Project Techniques:
 Our methodology distinguishes between activities and measured achievements, stressing the benefits of an achievement focus and the pitfalls of the "activity trap". This difficult concept lays the foundation for the AdPM™ approach. We need to ensure that every project is "touched" by a decision-maker with the appropriate strategic vision.

Accountability and Authority Mapping:
Using the measured achievements, we establish clear, measurable performance expectations and link the achievement commitment with a work estimate. Last, we make clear the tight linkage between performance against the measured achievements and the positive or negative consequences that will result.

Measures of Success(MOS)™:
The planning techniques we cover provide you the tools for establishing measurable business-relevant objectives for each project. The best MOS™ allow you to measure success through your customer's eyes. When complete, the MOS™ steers the entire project and, as importantly, it sets parameters for the scope of the project and tells the sponsor and project manager what NOT to include in the project. The MOS™ is the foundation for developing a project plan that consists of measured achievements, not activities.

Selecting and Managing PMs:
We examine the consequences of micro-management versus the impact of exercising strategic control and holding PMs accountable for hitting measured checkpoints during the life of a project. The protocol must make clear the processes that all PMs must follow through the project life cycle.

High-Level Achievement Network:
Executives establish strategic project control by managing based on a short chain of high-level achievements that lead to the Measure of Success. This intellectually challenging task establishes a foundation upon which lower levels of management can assign measured achievements to every member of the project team.

Portfolio Management:
With the forgoing processes in place, executives can set priorities and allocate resources to the projects in the portfolios, much as an investor seeks to maximize overall return from a stock portfolio. We'll show you portfolio analysis techniques and the processes for aligning the portfolio with strategic objectives.

Train Your People in a Consistent Methodology
Over the web 101- Business - 111- IT - 121-Construction - 131-Healthcare

 

 
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Portfolio Out of Control:

  • Out-of-control "pig" projects produce little business value but consume resources
  • Litters of small "puppy" projects devour so many resources that strategic projects suffer
  • A focus on frenzied technical activity diverts everyone from delivering business value

The result? An organization cannot deliver the strategic projects critical to success

Implementation Programs
  1. Implementation begins at the executive level with design and agreement on an AdPM™ project protocol tailored to your organization's strategy, people & competitive challenges
  2. Then we "roll-down" your protocol by teaching it in classes to your PMs so they all follow the same method
  3. We provide on-going consulting to your PMs & your prioritization & allocation process
  4. We conduct regular reviews to assist you in refining the protocol as the process matures in your organization