Published on January 10, 2013
Project Por)olio Management Project Por)olio Management (PPM) goes beyond the typical project management approach to oﬀer a set of proven business prac=ces that can help execu=ves, program managers, and project managers bring projects into alignment with the strategies, resources, and execu=ve oversight of the overall enterprise. This Webinar will supply some informa=onal overviews on PPM and sample uses. January 2012 BDPA-‐NJ Webinar Presented by Derris Boomer of Boomer Technology Group
What role are you at your ﬁrm? IT Staﬀ Business • Project or Por)olio • CEO, CFO, CTO, CIO Manager • Opera=ons • Project Coordinator • Finance & Accoun=ng • PMO Controller • Marke=ng • Database Administrator • Manufacturing • SoKware Developer • Human Resources • Services Group • Business Analyst • PMO • Systems Analyst • Other • Q/A Analyst Presented by Derris Boomer of Boomer Technology Group
Common Project Issues • Frequent diﬃculty ﬁnding enough people to put together a solid project team. • Excessive project delays due to “not enough resources”. • High turnover due to “burn out” of key project contributors because they are working on too many projects and spending too many over=me hours. • Frequent change of status of projects (i.e., moving from “ac=ve” to “on hold” to “top priority” and back). • Comple=on of projects that, when all is said and done, don’t really meet a strategic need. • Intense compe==on, rather than coopera=on, among departments and sub-‐organiza=ons when staﬃng and funding projects. Presented by Derris Boomer of Boomer Technology Group
What is PPM? • Project Por)olio Management is a set of business prac=ces that brings the world of projects into =ght integra=on with other business opera=ons. PPM brings projects into harmony with the strategies, resources, and execu=ve oversight of the enterprise. PPM provides the structure and processes for project por)olio governance. • The objec=ve of PPM, therefore, is to create and maintain the mix of projects which are most likely to support the achievement of the organiza=ons goals, aligned with the preferred strategies, and within the organiza=ons resource (people and funding) constraints. The era of modern project management began in the early 1960s as organiza=ons began to see the beneﬁt of organizing work around projects. Presented by Derris Boomer of Boomer Technology Group
Further Explana=on of PPM • PPM is a strategy that allows organiza=ons to align their IT and applica=on development projects, resources, and ini=a=ves to corporate business objec=ves by developing and monitoring measures that treat IT assets as ﬁnancial assets -‐-‐ and to run as a project-‐oriented business. PPM enables integrated management of pipeline, scope, =me, resource, skills, cost, procurement, communica=on, repor=ng and forecas=ng, and risk management func=ons. • In essence, PPM allows you to manage a por)olio of projects much as you would manage a por)olio of diverse investments, such as stocks, bonds, real estate, and so forth. By maintaining a balanced por)olio, you can reduce the risks of individual projects and produce an overall higher rate of return. PPM allows execu=ves and managers to proac=vely monitor their project por)olios for alignment with business objec=ves and planned costs and schedules. It also allows them to iden=fy project risks and quickly address them. Presented by Derris Boomer of Boomer Technology Group
The objec=ves of PPM are as follows: • 1) To become conscious of all the individual lis=ngs in the por)olio. Meaning all size projects & programs. • 2) To develop a “big picture” view and a deeper understanding of the the collec=on as a whole with repor=ng. • 3) To allow sensible sor=ng, adding, and removing of items from the collec=on based on their costs, beneﬁts, and alignment with long-‐term strategies or goals. • 4) To allow the por)olio owner to get the “best bang for the buck” from resources invested using key metrics. Presented by Derris Boomer of Boomer Technology Group
We have a PMO already. • Yes a PMO at your organiza=on may be in place however a PPM may add further value and produc=vity. • How do you select & priori=ze projects? • Can you measure & track project performance from beginning to end easily? • Do you have any manual repor=ng issues? • What tools are in place and integrated? Presented by Derris Boomer of Boomer Technology Group
PMO is the Informa=on Center • Supports development of project proposals. • Builds database of poten=al and current projects. • Maintains data on resources • Evaluates project performance. • Recommends projects for selec=on, de-‐ selec=on, or delay. Priori=zes projects. Presented by Derris Boomer of Boomer Technology Group
Governance & Steering CommiHee • Reviews and probes data and recommenda=ons. • Interprets strategic plans and ini=a=ves. • Provides enterprise budget and resource parameters. • Responsible for the ﬁnal selec=on decisions. • Approves budge=ng. Presented by Derris Boomer of Boomer Technology Group
Integra=on Points • ERP Systems (HR, Finance, Payroll, A/P, A/R) • MicrosoK Project, Clarity, OpenProject, etc. • Workforce Management (Payroll, HR) • Vendor Management SoKware • Financial Systems • Help Desk Systems • Change Management Systems Presented by Derris Boomer of Boomer Technology Group
Example Process A 1 Company has 15 projects requested for FY12 however only 5 can be approved. All 15 are entered into PPM system which calculates projec=ons for resources and =melines & costs. 2 PPM selects project #XYZ to be the ﬁrst out of ﬁve. Four remaining projects are selected also. 3 Project # XYZ is allocated with a Cost Center reference and Budget of $500K. Capital Expense. 4 Finance Department receives data for ERP. Presented by Derris Boomer of Boomer Technology Group
Example Process B 1 Steering Comminee Approves & Commits. 2 PMO is no=ﬁed and Resources are assigned. 3 PM, Owners & Resources meet to review Project inputs and outputs & schedule. 4 PPM system is now used to track resource alloca=ons, payroll, budgets & other tasks. 5 Other systems are updated with ac=ve project details and milestones. Presented by Derris Boomer of Boomer Technology Group
Example Process C 1 PM needs addi=onal hours for Project #XYZ for external resources. PPM shows John Doe is a bener resource than original resource and assigns him. 2 PM needs to approve employee Jane Doe’s hours that were transferred from MS-‐Project Server to PPM system. Hours are then passed to ERPHR system for processing. 3 PM needs to approve consultant John Doe’s hours that were transferred from external Vendor system to PPM system. Hours are then passed to ERPHR system for processing. Presented by Derris Boomer of Boomer Technology Group
Sounds nice but we have a PMO. • Again PPM system helps your company not only track projects on a enterprise level. It also helps the execu=ves choose projects in a more concise and proven methodology. • No more guess work in produc=vity and throughput es=mates based on current resources. • Lastly data is integrated partnering systems to reduce manual reconcilia=ons. Presented by Derris Boomer of Boomer Technology Group
Q & A • Is PPM SoKware limited to select pla)orms? – No a variety of pla)orms are available. Vendor speciﬁc. (Wintel, Unix, MS-‐SQL, Oracle, etc). • How can I ﬁnd out more on PPM? – Please see last slide in this presenta=on. • How can I improve my Project Mgmt skills? – You may want to get cer=ﬁed in a select discipline. See next slide for details. Presented by Derris Boomer of Boomer Technology Group
Standards, Cer=ﬁca=ons & Regula=ons • PMI (Project Management Ins=tute) • ITIL (Informa=on Technology Infrastructure Library) • Six Sigma • Prince2 (Projects in Controlled Environments) • CMM (Capability Maturity Model) • ISO9000 & ISO/IEC 20000 • Sarbanes-‐Oxley Presented by Derris Boomer of Boomer Technology Group
The Next Step • Where do you go from here? Check out amazon.com or bn.com for books on PPM. • Google the term and learn more. • iTunes University has courses for free! • Book: “Project Por:olio Management: A Prac@cal Guide to Selec@ng Projects, Managing Por:olios, and Maximizing Beneﬁts” by Harvey A. Levine Presented by Derris Boomer of Boomer Technology Group
Check out these vendors who provide PPM support services, background informa=on on PPM soXware: • Artemis Interna=onal — www.aisc.com • Business Engine — www.businessengine.com • Barometrix — www.barometrix.com • Mercury — www.mercury.com • Paciﬁc Edge — www.paciﬁcedge.com • PeopleSoK — www.peoplesoK.com • Primavera — www.primavera.com • ProSight — www.prosight.com • IBM — www-‐306.ibm.com/soKware/awdtools/por)olio/ • Intersect SoKware – hnp://www.intersectsoK.com/ • UMT — www.umt.com • Sciforma -‐ www.sciforma.com • Priority Systems -‐ www.prioritysystem.com • michaelgree.biz Presented by Derris Boomer of Boomer Technology Group
FYI-‐Events • BDPA-‐NJ will be hos=ng a Scholarship Dinner on Feb 23, 2012 in New Jersey. Please purchase =ckets via hnp://www.bdpanewjersey.org/ EventDetails.asp?event=207 • BDPA-‐NJ is looking for college students for our College Campus Ambassador Program. • Our next seminar will be Feb. 15, 2012 with presenter Wayne Hicks on topic: “Small Business Opportuni@es in a Down Market”. Presented by Derris Boomer of Boomer Technology Group
THANK YOU! • Thanks to Goldie Bonney and the BDPA-‐NJ board for their support on this webinar. • www.bdpanewjersey.org • BDPA New Jersey is a 501c3 non-‐proﬁt organiza@on established in 1981, originally known as the Northern New Jersey Chapter. The chapter’s membership rose to 125 members. The chapter saw a revitaliza@on in 2000 and has been increasing in its presence as a vital organiza@on for Northern and Central New Jersey ever since. Presented by Derris Boomer of Boomer Technology Group
Features . This iView allows you to view or edit the general information and settings of an existing portfolio. You navigate to this iView by choosing ...
More portals for customers and partners SAP Community Network SAP Support Portal SAP Ariba Support Portal SAP Business One Customer Portal SAP Sybase ...
Project Portfolio Management. Project Portfolio Management provides process consulting, engineering, project and construction management services to mining ...
Eclipse was designed to accommodate and improve your organization’s entire project lifecycle. Projects are entered into Eclipse at the idea or request stage.
Project Portfolio Management. Types of ITS Portfolio Management: Project Portfolio Management, Application Portfolio Management and Infrastructure ...
Project Portfolio Management Software reviews, comparisons, alternatives and pricing. The best PPM solutions for small business to enterprises.
Learn how IT Project and Portfolio Management ... Overview Contact Us ... Today's project management organization ...
Overview; Try or buy; ... Make project management easy and collaborate from virtually anywhere with the right tools for ... Other Microsoft sites. Windows.
Portfolio management. Align your portfolios with business goals and strategies; Get a quick and reliable overview of your entire portfolio; Manage a range ...