Wednesday, June 27, 2012

Understanding Project Portfolio Management

In preparing for a workshop I'm conducting next month I read an article today where I found myself arguing with the author.  In the article PPM: Project Propaganda Management? Mullaly attempted to simplify project portfolio management (PPM) as three dimensions: evaluate, prioritize and select projects to undertake; monitor project performance; ensure benefits are realized.  The author argued PPM is simply a higher level of project management needed to address the lack of operational decision making and micromanaging executives.

Yes, PPM is an extension of project management and, while it mirrors the processes of project management, it does so at a higher level.  However, the author failed to recognize that project portfolio managers do work at the executive level and, therefore, are influenced by the organization's executives.  This level ensures alignment with the organization's strategies.  Additionally, the author missed another important component of PPM: integration and resource management.

PPM is used to ensure resources are properly allocated across all programs and projects within the organization.  It is also carried out to ensure interfaces between projects and programs are coordinated.  This level of management reaches beyond the simple select, monitor, evaluate dimensions the author used.

One more very important attribute of PPM.  As a byproduct of the PPM implementation, if it is implemented properly, is business value rather than the schedule/cost/functionality metrics become the main measure of success.  Traditionally, "successful" projects are completed on-time, on-budget, with the correct functionality.  The point is that if the organization can't realize the intended benefits is it really a successful project?  Properly implemented PPM moves project evaluation to business value rather than satisfying the project management variables.

Monday, June 25, 2012

Change Management and Agile Project Management

I came across a great explanation on the virtue of agile project management in the context of change management.
"I believe agile projects accommodate this uncertainty better.  Fixed time boxes equal fixed schedule.  Dedicated full-time team equals fixed budget.  Scope is left flexible.  The customer prioritizes scope.  If you focus on highest business value first, delivered in regular intervals within a fixed budget, does i really matter if the scope changed?"
I found this quote from Jennifer Bleen to be a very concise way of conceptualizing the advantage of agile project management.  The quote also helps illustrate when the agile project management method is most appropriate to use (projects with fluid business requirements).

PMI (2012). Command and control. PM Network, 26(5), 24.

Monday, June 11, 2012

BI is Everywhere

I spent a few hours in the library today to catch up on my reading (it is air conditioned there whereas my office is not).  After looking through my most copies of KM World, Computerworld, Campus Technology, and PM Network I found articles dedicated various Business Intelligence topics.  These articles discussed the use of BI/Big Data/Business Analytics in identifying potential alumni donors; IBM's upcoming acquisition of the search and discovery vendor Vivisimo; investors interest in big data vendors; the up-and-coming job of the data scientist; successes in BI practices; using BI to solve problems with at-risk students, crime, and healthcare; and the use of big data to search for black holes.

With all of the attention on BI it seems as though this may be a trendy topic.  While I believe the terms we use to describe these technologies and practices will change over time, there is too much value in this data and corresponding knowledge building to consider this to be simply a trend.  Big Data/BI/Business Analytics and whatever term will be used next is for real.

Of course I have an interest in this subject since I will be teaching a Business Intelligence course this fall.  It will be a new course in our undergraduate curriculum and it certainly seems to be very timely and valuable course.  I imagine this course will evolve over the next few years but it is one that should produce students with very marketable skills.  Judging from the coverage in the most recent publications, it is a very timely subject.

Monday, June 4, 2012

Digital Possessions

I read an interesting article on the increasing role digital products have in our lives.  The article discussed our migration from physical products (CD, DVDs, photographs, books, etc) to the digital equivalents and how we as a society deal with the changes from physical to virtual.

Personally, I welcome many of the changes as a means to reduce the burden of the physical space required by the 200+ CDs, collection of DVDs, and bookcases full of books and photo albums.  At the same time, however, I would hate to completely loose these physical objects too.  Perhaps younger generations growing up with these digital possessions will have an easier time relinquishing physical objects.

Skills to Look for in Project Managers

Today I read a brief article describing the eight skills to look for when hiring an IT project manager. The headlines caught my attention...