Project, Program and Portfolio Management… aka: 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 embracing and acknowledging the value of PM best practices to facilitate selection of the mission-critical initiatives required to improve overall performance of the Enterprise; as well as to effectively deliver critical products and services.
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 processes, procedures, tools and techniques can actually facilitate identification and selection of the STRATEGIC GOALS to pursue; as well as define the required CORPORATE INITIATIVES that must be implemented, and the CRITICAL DELIVERABLES that must be deployed!
Using PM-techniques, conduct a brainstorming sessions with Enterprise management and other key stakeholders, to create and produce the PM Deliverables Diagram for the primary deliverable: “IMPROVED ENTERPRISE PERFORMANCE”.
Develop Level one of this Deliverables Diagram to identify the critical products that contribute to enterprise “IMPROVED PERFORMANCE”… the deliverables that the enterprise requires, and may choose to develop 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 group of 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 specific and unique deliverables to realize these Corporate Initiatives.
The Operational Units must create their own specific Deliverables Diagram, and then define their innovative implementation strategy or PM-PLAN, to build and deliver their product.
For each defined deliverable, the operational units must build a comprehensive, deliverables- based WORK BREAKDOWN STRATEGY (WBS) to effectively manage the required D5® Tasks (Definition, Design, Development, Deployment and Departure), to successfully implement the critical deliverables, and ultimately realize the Enterprise CORPORATE INITIATIVES.
Application of the processes, techniques and tools of PM… (Project, Program and Portfolio Management)… best practices is the effective, efficient and proficient approach for identifying STRATEGIC GOALS, selecting the CORPORATE INITIATIVES and implementing the CRITICAL DELIVERABLES for “IMPROVED AND OPTIMUM ENTERPRISE PERFORMANCE”!
PROJECT MANAGEMENT, PROGRAM MANAGEMENT AND PORTFOLIO MANAGEMENT … Essential disciplines that promote and sustain effective and successful Enterprise performance.
“INNOVATE USING PM TOOLS AND TECHNIQUES”
If you found these tips from MaryGrace Allenchey, PMP of value and are a PMP looking to earn PMI PDUs, you might be interested in her self-paced, downloadable courses at PDUs2Go.com.
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