Project Management Portfolio

Project Management

• A project is part of a broader program, portfolio, or both.
• Project management involves managing a project in a coordinated manner to obtain benefits not available from managing them individually.

Program Management

• A program is a collection of related projects, subsidiary programs, and operations managed in a group to achieve strategic objectives.
• Program management involves managing a group of related projects, subsidiary programs, and operations to achieve strategic objectives.

Portfolio Management

• A portfolio is a collection of projects, programs, subsidiary portfolios, and operations managed in a group to achieve strategic objectives.
• Portfolio management involves managing a group of projects, programs, subsidiary portfolios, and operations to achieve strategic objectives.

Agile Manifesto

• Highest priority is to satisfy the customer through early and continuous delivery of valuable software.
• Welcome changing requirements, even late in development.
• Deliver working software frequently, from a couple of weeks to a couple of months, with a preference to the shorter timescale.
• Businesspeople and developers must work together daily throughout the project.
• Build projects around motivated individuals.
• Give them the environment and support they need and trust them to get the job done.

Needs Assessment

• Performed by a business analyst.
• Involves understanding of business goals and objectives, issues, and opportunities.
• Recommends proposals to address what should be done, constraints, assumptions, risks, and dependencies.
• Defines success measures.

Business Documents

• Developed prior to project start (usually by a business analyst or key project stakeholder).
• Contain information about the project's objectives and contribution to the business goals.
• Help the business to determine whether a project is worth the required investment of time, money, and resources.
• Reviewed periodically.

Organizational Change Management

• Assess organizational culture.
• Evaluate impact of organizational change to project and determine required actions.
• Recommend options for changes to project.
• Continually monitor external business environment for impacts to project scope/backlog.

Organizational Cultures and Styles

• View of leadership, hierarchy, and authority.
• Shared vision, beliefs, and expectations.
• Diversity, equity, and inclusion practices.
• Risk tolerance.
• Regulations, policies, and procedures.
• Code of conduct.
• Operating environments.
• Motivation and reward systems.

Actions to Support Change

• Coach co-workers to support the business.
• Enable an agile operating system.
• Keep knowledge current and continuously improve processes and knowledge.

Plan for Change

• Define knowledge transfer, training, and readiness activities required to implement the change brought by the project.
• Include an attitudinal survey to find out how people are feeling.
• Create an informational campaign to familiarize people with changes.
• Be open and transparent about potential effects of the changes.
• Consider creating a rollout plan.

How OKRs Help Deliver Business Value

• OKRs (Objectives and Key Results) refine organizational objectives into measurable goals and intents
• Objectives are goals and intents, while key results are time-bound and measurable milestones under these goals and intents

OKR Best Practices

• Support each objective with 3-5 measurable key results
• Aim for a 70% success rate to encourage competitive goal-making
• Write OKRs that are action-oriented, inspirational, and include concrete, measurable outcomes

Incremental Value Delivery

• Incremental development approach enables value delivery sooner
• It can attain higher customer value and increased market share
• Allows partial delivery (or previews) to customers
• Enables early feedback, allowing for adjustments to direction, priorities, and quality of the product

From Principles to Performance Domains

• Use the 12 principles to guide behavior in the 8 project performance domains
• The 12 principles are derived from the Agile Manifesto

Agile

• More than 50 known agile practices and methods are in use
• Agile Manifesto includes four values and 12 principles

The Agile Manifesto

• Embraces a flexible, change-friendly way of thinking and behaving
• Understand the purpose of agile practices
• Select and implement appropriate practices based on context
• Internalize agile values, mindset, and behavior

Tailor Projects to Contexts

• Adapt methods to the unique project context to produce the desired outcomes
• Tailor iteratively and continuously throughout the project

Tailor Hybrid Approaches, Processes, and Practices

• Adapt methods to the unique project context
• Select the most appropriate development approach
• Tailor processes for the selected life cycle and development approach
• Tailor practices and methods to the environment and culture

Financial Metrics

• Financial metrics include profit, time value of money, present value (PV), future value (FV), net present value (NPV), and internal rate of return (IRR)
• Return on investment (ROI) is also a financial metric

Project Selection Using Present Value (PV) and Net Present Value (NPV)

• Present value (PV) applies to projects that span several time periods when the value of money might change
• Factors to determine PV include future value, interest rate, and number of periods
• Net present value (NPV) is used for capital budgeting and accounts for inflation and macro-economic change

Actions to Support Change

• Coach co-workers to support the business
• Enable an agile operating system
• Keep knowledge current and continuously improve processes and knowledge
• Plan for change and define knowledge transfer, training, and readiness activities
• Create an informational campaign to familiarize people with changes

Project Management Office (PMO)

• A PMO can be Directive, Manage shared resources, Coordinate communication across projects
• A PMO can be Supportive, Develop best practices, methodologies, standards, and templates
• A PMO can be Controlling, Monitor compliance with project management standards, policies, procedures, and templates

Agile Centers of Excellence (ACoEs)

• ACoEs enable, rather than manage, project efforts
• ACoEs coach teams, build agile mindset, skills, and capabilities throughout the organization
• ACoEs mentor sponsors and product owners

Organizational Project Management (OPM)

• OPM is a strategy execution framework that coordinates project, program, portfolio, and operations management
• OPM enables organizations to deliver on strategy

Agile Manifesto

• Values individuals and interaction over process and tools
• Values working software over comprehensive documentation
• Values customer collaboration over contract negotiation
• Values responding to change over following a plan

Agile Principles

• Highest priority is to satisfy the customer through early and continuous delivery of valuable software
• Welcome changing requirements, even late in development
• Deliver working software frequently, from a couple of weeks to a couple of months
• Businesspeople and developers must work together daily throughout the project
• Build projects around motivated individuals
• Face-to-face conversation is the most efficient and effective method of conveying information

Organizational Influences

• Enterprise Environmental Factors (EEFs) refer to all the implicit input or assets on processes used by an organization
• EEFs include internal and external factors that influence, constrain, or direct the project, program, or portfolio

Risk, Culture, and Change in Organizations

• Risk threshold and appetite are shaped by diverse values of country/region, industry/sector, leadership, and project team
• Understanding these values is crucial to establish effective approaches for initiating and planning projects

Change Management Framework

• Organizational change requires individual change
• The ADKAR model names five milestones an individual must achieve to change successfully: Awareness, Desire, Knowledge, Ability, and Reinforcement