A Treatment Plan for Portfolio Management Anxiety
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Stop the Insanity: A Treatment Plan for Portfolio Management Anxiety Featured Presenter: Terry Melnik VP of Client Strategy PowerSteering Software Welcome! Thank you for joining us. A few things to note before we start: All attendee phone lines will be muted during the presentation. You can access audio via teleconference or your PC. There is no hold music. You may submit questions using the Q&A panel in the bottom right. Questions will be addressed at the end of the session. We will email the slides and recording to all attendees within a few days.
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If you’re experiencing indecisiveness about which projects to pursue, are overwhelmed by resource demands, stressed about executive requests, or just suffering from a generalized sense of panic, you’ve come to the right place. The portfolio management doctor is in, offering a consultation and proven treatment plan to address these symptoms: *Too Much Demand – Dealing With A Key Stressor *Conflicting Priorities – Taking Control *Resource Optimization – It’s All Going To Be OK *Financial Anxiety – Delivering Tangible ROI *Planning for the Future – Where Do You See Your Portfolio In 5 Years? *Reaching Portfolio Nirvana
Transcript of A Treatment Plan for Portfolio Management Anxiety
Stop the Insanity: A Treatment Plan for Portfolio Management Anxiety
Featured Presenter:Terry Melnik
VP of Client StrategyPowerSteering Software
Welcome! Thank you for joining us. A few things to note before we start:
All attendee phone lines will be muted during the presentation.
You can access audio via teleconference or your PC. There is no hold music.
You may submit questions using the Q&A panel in the bottom right. Questions will be addressed at the end of the session.
We will email the slides and recording to all attendees within a few days.
STOP THE INSANITYA Treatment Plan forPortfolio Management Anxiety
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Presented byTerry MelnikVP of Client Strategy
IT GovernanceNew ProductDevelopment
PerformanceImprovement
Business PMOProfessional Services
Automation
Business‐Driven PPM Clients
Agenda
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Too Much Demand – Dealing with A Key Stressor
Conflicting Priorities – Taking Control
Resource Optimization – It’s going to be OK
Financial Anxiety – Delivering Tangible ROI
Planning for the Future – Where do you see your portfolio in 5 yrs?
Reaching Portfolio Nirvana
“Imagine you’re sitting in a wide open field, all alone, and able to collect your thoughts…”
A Clean Slate
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“Imagine you’re sitting in a wide open field, all alone, and able to collect your thoughts…”
No Active Projects
All Resources Available
All Budgets Open
All Projects Prioritized Clearly
A Clean Slate
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TOO MANY DEMANDS
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Dealing with a Key Stressor
The PPM Challenge
Organizational Structures
Functional ViewO
ther Stakeholders
Business Segments
Business Units
Geographic Markets
Innovation / R&D
Sales
Operations
Strategic Planning
Finance
Risk
Product Lines
Marketing Dem
and
Resources ?Results
Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
The Foundation
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• Do I have a definitive list of all projects and their details underway?
• Is this list up to date?• Do I know which project is most important? How do I even
define which project is most important?• Do I know how much effort each will take to complete?• Which resource type or role is most limited?
Scarcity is the fundamental economic problem of having seemingly unlimited human needs and wants, in a world of limited resources.
What is the best combination of resources and actions we can use to maximize output and delivery?
Why Selection is Important
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Being Pulled in Different Directions ‐ Priority, Budget, Resources, Time
CONFLICTING PRIORITIESTaking Control
What We Hear
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I need my project done now!
We’re running behind!
I can’t wait for the next release! I need more
people!
This is the most important project!
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Understanding Different Prioritization Methods is Key
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Articulating Priority
Talking their language:
Rank: Each opportunity sorted against each other
Shareholder Value: How supportive is the sponsor behind this initiative?
Scorecard Value: Score using a common comparison
Financial Value: ROI, NPV, Net Benefits
Resource Needs: How many people, FTEs, specific roles do we need to do this project?
Strategic Value: How well does this project align with our goals?
RESOURCE OPTIMIZATIONIt’s Going To Be OK
Resource Management Options
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At the Project Level
At the Phase Level
At the Task Level
Less granularLess complexLess overhead
More granularMore complex
More governance
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What is the current and upcoming demand on each key resource type?
Get Ahead of the Curve
The Problem With Resource Leveling
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By the way…you should never do this…
Commitment
Loyalty
Personal Investment
Team Momentum
Team Synergy
We’re Only Human
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FINANCIAL ANXIETYDelivering Tangible ROI
Financial andOperational Elements
Financials
Actual Spend
Actual Benefits
ROI
TCO
Value
CustomerSatisfaction
Goal Attainment
KPIs(Customer Satisfaction,
Market Share, Compliance)
Are we realizing the expected value and benefit?
Successful Benefits Realization
Show Me The Money!
PLANNING FOR THE FUTUREWhere Do You See Your Portfolio in Five Years?
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The Five Year Plan Myth
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Hoshin Kanri(Compass Control)
(Direction, Execution)
Crystal ballin’(stick your thumb in the air)
VS.
The Five Year Plan
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Successful Execution
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REACHING PORTFOLIO NIRVANA
Organizational Structures
Functional ViewO
ther Stakeholders
Business Segments
Business Units
Geographic Markets
Innovation / R&D
Sales
Operations
Strategic Planning
Finance
Risk
Product Lines
Marketing Dem
and Analyze
OptimizedDelivery $
DocumentedImprovedResults
An efficient governance process will create an optimized funnel of delivered services, often resulting in 5% - 30% improvements in cost, benefits, productivity, and service levels…*
IT Governance
* Documented by Gartner, McKinsey, Forrester, Customer Testimonials, and others
IT Services
Fine Oiled Machine
Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
Pulled in Different Directions
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Weak mechanisms for reviewing and triaging demand
Not enough timeBudget process too rigid to be
agile
Reports Already Out-of-Date
Too many projects, initiatives, objectives
Never enough budget to do it allNot enough people
Too few release cycles
Poorly defined goals
1. Implement a system for understanding stakeholders’ objectives. Use it to prioritize projects
2. Conduct a study to gather all resource’s skill sets: abilities, levels, interests
3. Keep looking far forward; Identify resource bottlenecks early
4. Consider financials as both cost investment and benefits yielded when reporting on financials
5. Don’t forget, you’re only human…
Homework: 5 Action Items
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Closing Recommendation
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QUESTIONS?
Please submit your questions via the Q&A panel.
We will email the recording & slides to all participants within a few business days.
To contact today’s speaker directly, email [email protected].
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