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El. knyga: Improving Business Performance: A Project Portfolio Management Approach

(GRT Consulting LLP, India)
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Ramani combines portfolio, program, and project management perspectives to provide a single reference on project portfolio management for business practitioners. He covers strategy, benefits management as the core of program management, project management--delivery enabler for change, transition management to change initiative integration into operations, change management and stakeholder engagement, benefits management as the link between portfolio and program management, setting up and running an enterprise project management office, and an integrated case study of applying project portfolio management. Annotation ©2016 Ringgold, Inc., Portland, OR (protoview.com)

No organization is impervious to change. Rather, the survival and growth of an organization is dependent on how well it copes with change. Successful change initiatives consist of the integrated eco-system of its portfolio, programs, and projects. These change initiatives become the delivery mechanisms for implementing the strategy of an organization.

Improving Business Performance: A Project Portfolio Management Approach clarifies how the proper application of portfolio, program, and project management concepts can help commercial and non-profit organizations achieve their strategic objectives. Most organizations have been good at devising strategy, but falter during its implementation. Executing strategy well to deliver superior business performance remains a key challenge, which is addressed as the core theme of this book.

The book portrays a top-down orientation as well as a bottom-up integration of change initiatives to facilitate alignment to strategy and accommodate mid-course changes. It takes into account existing global best management practices to bring forth an approach that is customizable and useful to organizations in any industry.

Describing why portfolio management lies at the apex of change initiative management, the book explains how to design and fine-tune portfolios so they are in alignment with your organization’s overall strategy and business needs. After reading this book, you will understand:

  • How to design the project portfolio structure for your organization
  • How to integrate programs and projects within the portfolio more effectively
  • How to better manage interactions across diverse change initiatives
  • How to maintain focus while managing change to realize benefits

The book presents a case study that illustrates the application of project portfolio concepts in practical scenarios. It includes chapters dedicated to transition management, change management, benefits management, and the Enterprise Project Management Office. It also includes templates you can immediately put to use in your own portfolios, programs, and projects.



Improving Business Performance clarifies how the proper application of project, portfolio, and program management concepts can help organizations achieve strategic objectives and deliver superior business performance. The book provides a top-down orientation approach as well as bottom-up integration to facilitate alignment to strategy and accommodate mid-course changes. It takes into account existing best management practices to bring forth an approach that is customizable and useful to organizations in any industry. The book includes ready-to-use templates and a case study that illustrates the application of project portfolio concepts.

Dedication v
Contents vii
Preface xiii
Acknowledgments xv
About the Author xvii
Chapter 1 Context for Change
1(6)
1.1 Why Change?
1(2)
1.2 Triggers for Change
3(2)
1.3 The Impact of Change
5(2)
Chapter 2 It All Commences with Strategy! Project Portfolio Management
7(30)
2.1 Starting Point for Portfolio Definition
7(2)
2.2 Strategic Positioning of Organizations
9(1)
2.3 Boston Consulting Group (BCG) Matrix---Application
9(2)
2.4 Setting Up of Performance Targets
11(1)
2.5 Strategy Evolution
12(1)
2.6 Organizational Vision, Mission, and Strategic Objectives
13(1)
2.7 Environmental Scanning and Competitive Strategies
14(1)
2.8 Application of Balanced Scorecard (BSC) to Portfolio Management
15(3)
2.9 Balancing the Portfolio
18(1)
2.10 Portfolio Definition and Management---Roles and Responsibilities
18(5)
2.11 Portfolio Definition and Implementation---Key Steps
23(7)
2.12 Portfolio Funding
30(1)
2.13 Portfolio Optimization
30(2)
2.14 Portfolio Implementation
32(5)
References
35(2)
Chapter 3 The Core of Program Management---Benefits Management
37(26)
3.1 Program Management---The Context of Benefits Management
37(1)
3.2 Benefits Map
38(1)
3.3 Multiple Ways a Program Can Come About in an Organization
39(2)
3.4 Program Mandate
41(1)
3.5 Program Governance Board
42(1)
3.6 Program Lifecycle---Phases
42(1)
3.7 Program Initiation Phase
43(3)
3.8 Program Stakeholder Engagement
46(2)
3.9 Program Definition Phase
48(9)
3.10 Program Execution Phase
57(4)
3.11 Program Closure Phase
61(2)
Chapter 4 Project Management---Delivery Enabler for Change
63(28)
4.1 Project Management---Context
63(1)
4.2 Project Management---Major Processes
64(1)
4.3 The Project Charter
64(1)
4.4 Project Stakeholder Engagement
65(2)
4.5 Requirements Management
67(2)
4.6 Project Work Breakdown Structure (PjWBS)
69(3)
4.7 Project Schedule Development
72(4)
4.8 Project Cost Baseline
76(1)
4.9 Scope Change Requests and Managing Change
77(1)
4.10 Project Quality Management Plan
77(1)
4.11 Project Communications and Risk Management Plans/Risk Management Flow
78(4)
4.12 Procurement Management and Staffing Management Plans
82(1)
4.13 Project Setup End-Deliverable: Project Management Plan Finalization
82(1)
4.14 Assessing Project Viability
83(2)
4.15 Project Delivery Process
85(1)
4.16 Project Progress Monitoring Process
86(2)
4.17 Project Closing Process
88(3)
Chapter 5 Change Initiative Integration into Operations---Transition Management
91(8)
5.1 Introduction to Transition Management
91(2)
5.2 Pre-transition Step
93(3)
5.3 Transition Step
96(1)
5.4 Post-transition Step
97(2)
Chapter 6 Change Management and Stakeholder Engagement
99(22)
6.1 Significance of Change Management and Stakeholder Engagement
99(1)
6.2 How Change Gets Triggered Off?
100(1)
6.3 Enabling Changes from Enterprise-Wide Transformation Initiatives---Stakeholder Classification
100(4)
6.4 Grouping of Stakeholders and Developing Stakeholder Response Stances
104(1)
6.5 Why It Is Difficult to Change Stakeholders? Or Stakeholder Views?
105(3)
6.6 Applicability of Change Management Models in Driving Change Initiatives
108(4)
6.7 The Ways in Which Different Organizations Work
112(3)
6.8 Change Management Roles
115(3)
6.9 Summary
118(3)
References
118(3)
Chapter 7 Benefits Management---Link between Portfolio and Program Management
121(14)
7.1 What Is Benefits Management?
121(1)
7.2 What Are the Practical Issues Concerning Benefits Management?
122(1)
7.3 Benefits Identification
123(3)
7.4 Benefits Quantification
126(1)
7.5 Planning to Obtain the Benefits
127(1)
7.6 Realizing, Tracking, and Sustaining the Benefits
128(3)
7.7 Benefits Management from the Portfolio Management Perspective
131(4)
Chapter 8 Setting Up and Running an Enterprise Project Management Office (EPMO)
135(16)
8.1 Why an EPMO?
135(1)
8.2 What Is an EPMO?
136(1)
8.3 What Would Be the Structure of a Full-Fledged EPMO?
136(2)
8.4 The Centralized Portfolio Office (PfO)/Nodal Offices
138(1)
8.5 Center of Excellence (COE) Functions and Services
139(1)
8.6 Temporary Project/Program Offices
140(1)
8.7 How Is the EPMO Set Up?
140(4)
8.8 Run the EPMO Implementation Program and Its Closure
144(1)
8.9 Setting Up and Running the PMOs for a Specific Change Initiative
144(1)
8.10 Challenges Facing the EPMO and Their Possible Remedial Measures
145(1)
8.11 Enhancing the Organizational P3M Maturity
146(2)
8.12 PM Maturity Model---An Overview
148(3)
Chapter 9 An Integrated Case Study---Application of Project Portfolio Management
151(23)
9.1 Background: The Company---AXN Corporation
151(1)
9.2 Management Structure---AXN Corporation
152(1)
9.3 Triggers for Change
153(1)
9.4 How AXN Corporation Went About the Change?
154(1)
9.5 "Top-Down" Change---How Did AXN Go About It?
155(3)
9.6 Reconciling with the "Bottom-Up" Approach
158(1)
9.7 Balancing and Deploying the Portfolio
159(5)
9.8 Program Management---Execution
164(2)
9.9 Program Execution---Interfacing with Project Management
166(1)
9.10 Program Closure
167(1)
9.11 How Projects in AXN Were Managed---Salient Points
168(1)
9.12 How AXN Enhanced Project Management Competency
169(1)
9.13 Portfolio Management Implementation---A Retrospective
170(4)
References
171(2)
Appendix: Structure of Major Portfolio, Program, and Project Artifacts
173(1)
1 Portfolio Governance Framework
174(1)
2 Portfolio Implementation Plan
175(1)
3 Program Mandate
176(1)
4 Program Charter
177(1)
5 Program Scope Baseline
178(1)
6 Program Benefits Realization Plan
179(1)
7 Program Benefit Card
180(1)
8 Program Benefits Management Strategy
181(1)
9 Program Communications Management Plan
182(1)
10 Program Risk Management Plan
183(1)
11 Program Risk Register
184(1)
12 Program Financial Management Plan
185(1)
13 Program Quality Management Plan
186(1)
14 Program Resource Management Plan
187(1)
15 Program Component List
187(1)
16 Program Transition Plan
188(1)
17 Program Governance Plan
189(1)
18 Program Management Plan
190(1)
19 Program Target Operating Model
191(1)
20 End Program Report
192(1)
21 Project Charter
193(1)
22 Project Business Case
194(1)
23 Project Scope Management Plan
194(1)
24 Project Cost Management Plan
195(1)
25 Project Quality Management Plan
195(1)
26 Project Resource Management Plan
196(1)
27 Configuration Item Record
196(1)
28 Project Management Plan
197(1)
29 Team Progress Report
198(1)
30 Project Progress Report
198(1)
31 End Project Report
199(2)
Glossary 201(6)
Suggested Reading 207(2)
Index 209
Ramani S has over 25 years of experience in the technology and management consulting industry, spanning project, program, and portfolio management; management consulting (with PwC Consulting); Information Technology strategy/portfolio development; and client relationship management. He has successfully managed many large projects/ programs relating to ERP implementations, business-systems integration, and IT strategy development. Prior to consulting for PwC, Ramani managed technology and application services for numerous clients, including non-profit organizations. He has also handled portfolio, program, and project management workshops for large transnational clients in multiple countries.

Ramani currently manages his own company, GRT Consulting LLP, which specializes in project, program, and portfolio management related consulting and training. Ramani is among the very few global professionals who are accredited in project, program, and portfolio management certifications, from both PMI and from AXELOS frameworks.
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