By Gerald I. Kendall
This complete booklet covers the tactic, strategies, and methods wanted for profitable undertaking portfolio administration. It outlines a street map to extraordinary venture administration development and encompasses a distinct implementation plan for either strategic making plans and a PMO that provides you measurable ends up in weeks. The authors delineate 4 procedures that get a PMO off the floor a lot speedier, riding bottom-line worth shortly. It comprises actual PMO case stories, presents how to assessment your PMO, illustrates how Six Sigma and the PMO can aid one another and be used to force bottom-line worth and provides the hot thought of Constraints 4x4 approach to strategic making plans and the serious Chain Multi-Project administration process. . This booklet indicates you the way to show a PMO right into a worth computing device.
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Additional info for Advanced Project Portfolio Management And The Pmo Multiplying Roi At Warp Speed
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 PMO Value Model and its full implications are covered throughout the rest of this book. The Value Model focuses on throughput relative to the goals of the organization, rather than on Cost Containment.
One problem with having project managers report to a PMO is that the respective line managers will be reluctant to give up their best project managers to a PMO. The line managers view this as a loss of control and a reduction in authority and possibly power. "The only time I have seen project managers report effectively to a PMO is when it was a customer-focused PMO, where the PMO focuses exclusively on one customer base, such as in the armed forces of a country. Recently I was with a strategic PMO in Mexico that is responsible for strategic decisions such as project selection, prioritization and tracking ROI.
Apply this concept to all processes implemented in the first year. Project Sponsors: Educate the sponsors on the collective impact of projects, and the relationship of their project to the overall goals of the company. Let them know what you are doing to help them. Know which sponsors are doing well and who needs hand-holding. Governance Board: Maintenance mode. Focus on portfolio balance. The Governance Board may upgrade the prioritization model for projects. Project Managers: If the PMO has implemented the high-value model, project managers will look to the PMO for help in accelerating and ensuring project results.