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The debate on whether program managers would make effective senior executives has gained attention in recent years. The team at PM Oracles turn to management guru Peter Drucker to see if program managers might make good C-level executives.
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There’s a difference between knowing what the risks are and managing them, as Martin Vaughan discovers, and it’s up to PMOs to understand and guide others on how to handle risk in their overall strategy.
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While not a magic bullet for problems that plague failed projects, a mature portfolio management office will make significant improvements to the project performance, Guy Wilmington explains.
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Working with senior stakeholders to optimise the value of a portfolio of projects is a complex process influenced by the innate bias in most people including risk and loss aversion and the preference for ‘quick wins’ over long-term gain. Pat Weaver explains how we can look past these biases.
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Dr Lynda Bourne on the difficulties in quantifying the value of improving an organisation’s stakeholder management capabilities and establishing the return on investment for a new project management office.
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Governance is currently associated with disaster prevention, risk mitigation and consequently, tighter controls. These systems stifle innovation and create an oppressing culture in organisations where everybody feels that they should protect themselves rather than contribute to value creation. Michel Thiry explains how governance should actually work.
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According to KPMG, organisations should “establish an enterprise-wide prioritisation process that objectively and continuously evaluates projects and programmes to help maximise and realise the value from investment.” Guy Wilmington shows how portfolio management is supposed to work.
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The iterative style of programs and Agile projects suits a style of decision-making with feedback loops for stakeholders to evaluate decisions and proceed with new information, writes Michel Thiry.
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Because projects are temporary endeavours undertaken to create unique products, services or results, organisations have temporary resource requirements that need to be accommodated. But how can organisations avoid resource conflicts between operations and projects and among multiple projects? Guy Wilmington provides the answer.
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A benefit is a positive outcome that stems out of the use of a product or capability; it is an outcome of the execution of the strategy. Michel Thiry examines how benefits management works for both programs and Agile projects.
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