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How to implement portfolio management in 100 days

The Office for National Statistics @statisticsONS & Portfolio Management: From Transforming the Public Sector conference 28 Nov 2012. Presented by Craig Kilford @MrPortfolio with an intro by Jil Matheson (Permanent Secretary & National Statistician)
by

Craig Kilford

on 18 June 2014

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Transcript of How to implement portfolio management in 100 days

Portfolio Management
in 100 days
You can get
has never been more
more important
Portfolio Management
remember this
...and this too
like your morgage rate
Census
National Well being
Gross Domestic Product (GDP)
National Accounts
Retail Price Index
...and 400+ others
(yes we do baby
names too)
...and 400+ others
really
important
information
really
important
decisions
Inflation
Employment rate
we're are all different
we're all complex
we're in the same boat
we're trying to change
we've got the same challenges
ALUE
EXPERIENCE
Day 15
I can see where we
are good (and not
so good) at portfolio
management
Day 40
Day 60
I can see an overall
portfolio landscape.
We are having good
Board debates!
Wow...loving this Exec
Portfolio Dashboard. We
are making confident
investment decisions!
Day 80
I can see contribution
to our strategy.
We prioritised projects!
OUCH!!
... but good!
Day 100
We make more confident
investment decisions, people
are happier, We know what
projects to kill if budgets
are cut (and who will feel pain)
Communication
Conversation
Collaboration
How happy are you out of 10
with the way ONS manages change?
Our dream / vision for portfolio management in ONS
We successfully deliver the right projects and programmes, in the right way, with the right people every time.
Measuring Audience Value Experience Live
truth about project investment
Business
clear decisions and delivery
better Executive conversations
?
Agree Executive value upfront
Collaboration and conversation
Measure capability, energy, happiness
Vision and Blueprint
Portfolio Office
What's keeping you awake
Change
Success
good energy
see the horizon
different
originality
impact
G
reat
U
seable
C
lear
C
oncise
I
nformative
ideas
inspired
Enlightenment is
in the question

gives
you the ability to answer the questions that your Perm Sec' & DG
will
ask
How does our portfolio of change fit together?
Killer
dependency
BAU Resource risk
Major
Contract
Renewal
Deadline
What is the contribution to our strategy?
What is the most important project?
What is the return on investment for the portfolio?
How are we investing in our portfolio of change?
Should we invest in this project?
How our we assuring our change?
Who benefits from ONS projects?
ONS Projects
What if we cut the budget by 5%?
Do we have the
right skills in place?
Raise your hand for 2 seconds
(we are counting each hand raised
- dont forget half way through)

4.3 happy

6.4 happy
April 2012
Oct 2012
Are people energised
to deliver?
How do we make investment decisions together?
What benefits are we delivering?
Are people energised to deliver?
TOP TIPS
Live Audience
Value
Measure
300+
200
50
Craig's
target
Everything must add value
Collaborate
Measure capability now
Be creative
Success = People + skills + energy
Share your Vision
@MrPortfolio
@StatisticsONS
100 days is tough = base camp
Measuring Portfolio Management Capability
Love from...
soft benefits
hard benefits
intangible benefits
Visibility of all change
Contribution to strategy
Consistency: Transparency, Investment Truth, Prioritise, Benefits
Confidence - right investments
Collaboration
Energising
are people
engaged?
Community'tion
Make a
real difference
Measure it! (if worth it)
Are we serious about portfolio management?
happiness is
important
..and Managing Benefits from APMG International
Harry Potter
Not Welcome
"This is not a silver bullet...
You and your investment decisions are the bullets..
Management of Portfolios is the gun"
"reports and template are not value...they are just boring"
"Our vision was underpinned by the ONS Values"
"Catagorise to help you see what types of projects you are buying and make sure you use the right investment appraisal approach"
"Anyone who thinks its okay to put intangible, hard, or soft benefits in a business case is soft in the head"
"we had 60 people doing portfolio benefits maps yesterday. We did 5 months work in 4 hours. Thats good energy, people were buzzing"
"I dont read Harry Potter, and I dont write Harry Potter sized reports. Give your Executives a portfolio view. "Zoom" where you need to"
"Any portfolio that cant show return on investment isnt a portfolio, its just a list of projects that someone is funding"
"They dont call me Craig (The project Killer) Kilford for nothing"
"Life is more complex that comparing apples and pears"
"We dont have money to waste"
"Choosing what to invest in is tough"
"so we eat every project and cant stop"
"until we hit a traffic jam because we didnt sequence the portfolio, think about risk or resources!"
"We are all looking for the holy grail. How do we invest in the right projects and do them right?...look no further"
"In the first 10 days i interviewed 60 people..it was tough but so worth it"
"I used the same questions in every interview that were based on the questionaire in the Management of Portfolio Executive Guide"
"A portfolio blueprint helped people understand how it would all fit together"
"We rapidly designed and implemented a portfolio office based on the capability assessment and the blueprint"
"gives everyone a common understanding"
"This was one of several lenses that helped us plot and prioritise our projects"
"Communication is soooo last millenium"
"We could now plan for our reviews and see when we needed resources"
numbers
removed
numbers
removed
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removed
numbers
removed
Actual Value Moments Result
= 1 value moment per 1.8 secs within a 17 min presentation
561
"i'm the worlds worst salesman, i dont sell portfolio management, i show people the value of portfolio management"
"We wanted to measure organisational energy, but we were moving so fast we didnt have time. So we measured happiness"
"creativity inspires, helps undestanding and excites people. We took inspiration from other fields"
Full transcript