by clicking the arrows at the side of the page, or by using the toolbar.
by clicking anywhere on the page.
by dragging the page around when zoomed in.
by clicking anywhere on the page when zoomed in.
web sites or send emails by clicking on hyperlinks.
Email this page to a friend
Search this issue
Index - jump to page or section
Archive - view past issues
Project Manager : Project Manager Dec Jan 2012
www.aipm.com.au Project Manager 15 14 Project Manager Project Portfolio ManageMent 3Fast and frugal: More information does not necessarily provide more clarity. The key is to cover the twin dimensions of risk and return. Return can be determined using financial metrics such as net present value (NPV) and strategic contribution assessed using the driver- based approach. As for risk, an approach covered in MoP, based on research by the Boston Consulting Group into hundreds of major change programs across the globe, identified that success is dependent on four elements: • Duration – the time until the project is completed if it has a short life span, or if not, to the next review. • Integrity – the performance integrity or capabilities of the team to deliver the initiative on time, including capable and respected leadership, clear objectives, and resources and organisational skills appropriate to the initiative’s requirements. • Commitment – to change, including the visible commitment of senior management and the attitudes of the local area undergoing the change. • Effort – the additional effort over existing responsibilities required of local staff to complete the change. Crucially, the system provides organisations with a structured basis for discussion and an objective framework for informing investment decisions. So what we see is a focus on evidence- based assessments, leading to active intervention to improve the likelihood of success. 4 Active: Portfolio Management needs to go beyond passive reporting of progress and the illusion of control, to an active approach in which attractiveness and achievability increase as our knowledge improves. Too often, project cost-benefit profiles move in a familiar direction – costs increase and benefits fall, or fail to be realised, or take much longer to be realised than planned. But this is not a law of physics and doesn’t need to be so. Indeed, the reverse is possible if we actively monitor progress with a view to ensuring forecasts are realistic, costs are shared across the portfolio, capability and components are re-used, and we leverage learnings with a commitment to continuous improvement. A key feature of an active approach is to link funding to confidence using the of ‘staged release of funding’. Just as a poker player increases his stake as he sees more of his hand, so the most successful organisations link the release of project funding to the successful completion of relevant stage or phase gates. Being active also means clearly communicating the portfolio view to all your stakeholders – publishing key targets helps to focus minds. ( ThE MoP guidAnCE highlighTs A sTrong ThEorETiCAl CAsE For...ThE CoordinATion oF sEVErAl disCiPlinEs
Project Manager Oct Nov 2011
Project Manager Feb March 2012