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The InspirationThe Inspiration
OGC Portfolio Management GuidanceCraig Kilford : Author
OverviewOverview
Owned by OGC and created in
partnership with Cabinet Office
friends
Available for public consultation
from OGC website (3500+
downloads so far)
Aligns with all best practice
specifically P3O and P3M3
New format, concepts and models
and focuses on reality
Corporate Level Portfolio
Management
What is it
The Model
PfM and your PO
Why it’s exciting
© 2009 cansoti.com
The future
What is a PortfolioWhat is a Portfolio
Official definition:
The totality of an organisations
investment (or segment thereof) in
the changes required to achieve its
strategic objectives
Investment & Return
Changes
Strategic Objectives
Whole Organisation
© 2009 cansoti.com
What is Portfolio ManagementWhat is Portfolio Management
Official definition:
Portfolio Management is a co-
ordinated collection of strategic
processes and decisions that
together enable the most effective
balance of organisational Change
and Business as Usual
Strategic Processes
Decisions
Balance
Together
© 2009 cansoti.com
Key differences Key differences
Portfolio Management is about
doing the right things.
Project and Programme
Management is about doing those
things right.
Never ending
Doing right things
Strategy
Cycles not stages
© 2009 cansoti.com
Board Involvement
Change and Business As UsualChange and Business As Usual
© 2009 cansoti.com
Historic PerceptionsHistoric Perceptions
• More bureaucracy
• It takes too long to start a change with this process
• I don’t have control over my own changes any more
• Big brother is watching me and telling tales
• This is an ‘initiative’ not a project/programme
• The project people can deal with that
Lack of control
Being watched
Not my problem
Hoops
© 2009 cansoti.com
Why should I be excited?Why should I be excited?
• Better informed
• Enhanced decisions
• Do more of the right projects
and programmes (changes)
• Get rid of redundant change
• Implement changes better
• Use resources better
• Realise benefits better
• Improved engagement with
teams
• Improved change culture – one
team
Decisions
Resources
Culture
The right things
© 2009 cansoti.com
Link to PO Business Case
The PfM ModelThe PfM ModelSenior
Management Commitment
Organisational
Governance
Alignment
Energised Change Culture
P3O and
Portfolio
Office
Organisational
Strategy
Alignment
Definition
Delivery
© 2009 cansoti.com
Org
Energy
A few notesA few notes
• Principles discussed using
Target Situations and Keys to
Success
• Everything happens at the same
time
• No mandated starting point (it
is created or it evolves)
• Every action is part of Defining
or Delivering Cycle
• PfM Practices are within the
cycles
• Needs energy to grow and
rotate the cycles
OrgEnergy
Senior
Management Commitment
Organisational GovernanceAlignment
Energised Change Culture
P3O and
Portfolio Office
Organisational
Strategy Alignment
Definition
Delivery
© 2009 cansoti.com
The PfM CyclesThe PfM Cycles
UnderstandCategorise
Prioritise
Balance
Benefits
Management
Financial
ManagementManagement
Control
Resource
Management
Portfolio Definition Portfolio Delivery
Risk
Management
Stakeholder
Engagement
Organizational
Governance
Plan
Organisational
Energy
© 2009 cansoti.com
Portfolio Definition CyclePortfolio Definition Cycle
UnderstandCategorise
Prioritise
Balance
Portfolio Definition
Plan
Purpose: Clarity for everyone
1. Bring together key information
2. Collaborative working
3. Management Board involved
4. Provide clarity
5. Confident about the ‘right’ things
6. Portfolio Office lead
7. Communication
8. Skills / experience is critical
9. Portfolio Delivery Strategy
© 2009 cansoti.com
Portfolio Delivery CyclePortfolio Delivery Cycle
Benefits
Management
Financial
ManagementManagement
Control
Resource
Management
Portfolio Delivery
Risk
Management
Stakeholder
Engagement
Organizational
Governance
Purpose: The strategic objectives
1. Implement the right things the
right way
2. Use best practice processes
3. Understand progress , risks and
issues
4. Make effective decisions
5. Adapt to the environment quickly
6. Review
7. Develop change culture
8. Succeed
© 2009 cansoti.com
What does this mean for Portfolio What does this mean for Portfolio
Offices?Offices?• Portfolio Management is non-
negotiable
• Must have Management Board
involvement
• You cant have Portfolio
Management without P3O
• P3O implements Portfolio
Management
• Use PfM as part of a “Target
Situation” for your
implementation
© 2009 cansoti.com
P3O Implements
PfM
Management Board
PfM is the target
PfM + P3O = Happy
Non-Negotiable
The FutureThe FutureYour next steps?
• Read the guidance (or summary)
• Ask key questions at your Board
Meetings
• Create or evolve Portfolio
Management within your
organisation
• Portfolio Management is a
collective and not one person
• Take small steps
• Do not underestimate its
importance
© 2009 cansoti.com
Free Audio Briefings with Craig
Kilford and Sue Vowler discussing
Portfolio Management and P3O
are available to down load at :
www.craigandsue.co.uk
A collaborative project between Sue Vowler (Project Angels Ltd) and Craig Kilford
(Cansoti.com) : Sponsored by