Best practices for Project Portfolio Management and determining project and program funding include a clear cross referencing of project impact, business capabilities, objectives, goals, requirements and business outcomes.
Project Portfolio Optimization (PPO) complements but looks beyond the traditional risk, resource, change, financial and pipeline management, and takes an enterprise business architecture view of an organization’s project portfolio. IAG can show you how to use a Business Architecture blueprint to optimize your planned budgets by ensuring individual project and initiative benefits and outcomes are discreet from one project to the next and are not conflicting or overlapping. A Business Blueprint can uncover and highlight risks, conflicts, redundancies and inefficiencies that would ordinarily go undiscovered until development, testing or implementation. Results of the analysis will influence portfolio restructuring and consolidation to ensure effective and efficient funding allocations, planning, scheduling and delivery. This business architecture model is an essential exercise of every project portfolio management (PPM) process.
Duration
6 – 8 weeks on-site to prepare blueprint, analysis and socialize results.
Participants
Executive Stakeholders, Project Sponsors, Project Management Office, Project Managers.
Deliverables
A Portfolio Dashboard for executive review and decisioning. Alignment of current and planned initiatives to the Business Blueprint highlighting risks, conflicts, redundancies and inefficiencies.
Resources
One (1) Business Architecture Consulting Team
High Level Plan
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1. Analysis: |
Current catalogue of initiatives, business benefits and strategic impact. |
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2. Definition: |
Facilitated sessions with business heads to develop the business blueprint and capability model. Cross reference the initiatives catalogue and business strategies, goals and objectives to the business blueprint to understand overlaps, dependency and competing or shared benefits. |
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3. Result: |
Report on findings and recommendations for restructuring (projects operating in the same business capability and are complementary) and reallocation of funding where initiatives are not delivering to a strategic pillar or are overlapping in business capability and functionality. |
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4. Review: |
Walkthroughs, at defined project milestones, to review results and work products ensuring the engagement of the stakeholder community and verification, validation, refinement and approval as required. |
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5. Publish: |
Socialize to executive, project sponsors and publish results as appropriate. |
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6. Roll-out: |
Develop an implementation plan and automate the dashboard to integrate to the PMO reporting process. |
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7. Manage: |
Coaching as required for the on-going review, measurement, improvement. |
Benefits to PPO with Business Architecture Alignment
Optimize your planned project spends by ensuring project benefits and business outcomes are not reported by more than one project.
Alignment of Investment Spend identifying opportunities for project prioritization, reallocation of capital to unfunded strategic projects, repackaging of current projects and identifying duplication, conflicts, redundancies and inefficiencies.
Minimize your risk of multiple projects deploying multiple times into the same business or technology environment.
Improve scope definition, stakeholder identification and stabilization.
Ensure business strategies are being addressed by approved projects and align to the strategic vision, develop a clearer understanding of projects overlaps and dependency across a portfolio.
Dimensions of Capabilities exposing potential analysis for cost containment or revenue growth.