By Gerald I. Kendall
This complete e-book covers the method, strategies, and techniques wanted for profitable venture portfolio administration. It outlines a highway map to unheard of venture administration development and incorporates a specified implementation plan for either strategic making plans and a PMO that offers you measurable leads to weeks. The authors delineate 4 approaches that get a PMO off the floor a lot speedier, riding bottom-line price shortly. It comprises actual PMO case reports, offers the way to evaluation your PMO, illustrates how Six Sigma and the PMO can aid one another and be used to force bottom-line worth and offers the recent thought of Constraints 4x4 approach to strategic making plans and the serious Chain Multi-Project administration technique. . This booklet exhibits you the way to show a PMO right into a worth computer.
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Additional info for Advanced Project Portfolio Management and the PMO: Multiplying ROI at Warp Speed
For example, businesses that gain revenue through the military or government agencies are often required to follow strict project delivery guidelines such as “Earned Value” techniques. These businesses are measured and compensated on the Earned Value metrics as a percent of available compensation for a particular project phase. So, if the business achieved 90% of the Earned Value metrics for a project phase, it would receive 90% of the available compensation for that project phase. For some firms operating this way, their survival may depend on the cash flow and the careful tracking and progress associated with it.
First and foremost, the executive team must see the PMO as providing tangible help towards meeting the organization’s goals. Each and every project manager must see the PMO as a trusted group who is helping them to meet their goals. Functional managers at all levels must see the PMO as helping resolve resource conflicts and other crises and getting the project work done faster and better. PMOs that report too low in the organization or PMOs that have an imbalanced Governance Board often put their focus on time sheets, methodology, and other efforts that fail to drive value within the first 60 days.
The model assumes a governance process that involves the PMO in most projects, regardless of size. While this model is heading in the right direction, we observe that most PMOs within this model have no direct link to the CEO or business unit head. There are no immediate bottom-line expectations of the PMO. If you take senior project managers out of a functional area, place them in such a PMO, and then farm them out again as project managers, has the PMO really added significant value to the entire organization?