Create and Innovate Using PM Tools and Techniques

By MaryGrace Allenchey, PMP

Project, Program and Portfolio Management… PM… processes, procedures, tools and techniques are not just for implementation anymore!

Organizations are already increasingly recognizing the value of Project, Program and Portfolio Management (PM) to effectively manage enterprise resources, and successfully complete mission-critical projects to attain enterprise strategic objectives.

But more and more entrepreneurial enterprises are increasingly acknowledging the value of PM best practices to facilitate selection of the mission-critical initiatives required to improve overall performance of the enterprise. 

Recall the Enterprise Pyramid…at the top level are the Enterprise Strategic Goals, below that level are the Corporate Initiatives, below that level are Organizational Functions and finally at the lowest level, Tactical Operations.

Best Practices PM tools and techniques can actually facilitate identification and selection of the Strategic Goals to pursue; and the required Corporate Initiatives that must be implemented!

Using PM-techniques, conduct a brainstorming sessions with enterprise management and key stakeholders, to create and produce a one-level PM Deliverables Diagram for the primary deliverable: “Improved Enterprise Performance”.

Level one of the Deliverables Diagram has now identified the critical products that contribute to enterprise “improved performance”… the deliverables that the enterprise requires, and may choose to create and deploy, to enhance the growth and profitability of the organization.

When necessary due to resource and/or time limitations, apply the methods and procedures of the Portfolio Management Selection Process. Use best practices selection criteria and techniques to assess each of the proposed deliverables, and then choose the specific deliverable or deliverables that realize the enterprise specified and required profitability margins and performance improvements in the required time-frame.

Once the deliverable has, or deliverables have been selected, the Corporate Initiatives for all Operational Units have now been defined.

Enterprise business-units, departments, and functional-groups must now identify their unique deliverables to realize the Corporate Initiatives. Once the operational units have created their own specific Deliverables Diagram, they must then define their innovative implementation strategy or PM-Plan .  And finally, for each deliverable, a comprehensive, deliverables-based Work Breakdown Strategy (WBS) is ultimately built to successfully manage the deliverables’ implementation and deployment.

Application of the processes, techniques and tools of PM best practices provides an effective, efficient and proficient approach for identifying Strategic Goals and selecting the Corporate Initiatives to pursue for “Improved Enterprise Performance”!

Project, Program and Portfolio Management (PM) is embraced as an essential discipline to promote and sustain successful enterprise performance.

“Create and Innovate Using PM Tools and Techniques”

Note:

For specific application and effective implementation of PM processes, procedures, tools and techniques, check out PMO-STEPS, ESPM and other self-directed PM-courses on PDUs2Go.com.


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