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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 25 October 2018

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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 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 leaders don't know they should be asking..yet.
How does our portfolio of change fit together?
Killer
dependency
BAU Resource risk
Major
Contract
Renewal
Deadline
Which changes contribute most to our transformation strategy?
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 are we assuring our change?
Who benefits from the projects?
ONS Projects
What if we cut the budget by 5%?
We focused on making sure we had the right skills.

Invest in people
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
We focused on energising our people 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
Measure portfolio capability now
Collaborate then collaborate more
Everything must add value
Be creative, be different
Success = People + skills + energy
Share the dream, create belief
Craig Kilford
@StatisticsONS
100 days gets to base camp.
Visualising the Portfolio 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
Collaborative decisions
Energised teams = great teams
We engaged people and they contributed to the journey
Community'tion
Make a
real difference
Measure it! (if worth it)
Are we serious about portfolio management?
happiness is
very 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"
"Plan for the value that people will experience."
"Our dream was underpinned by our values"
"Categorise to help understand what type of projects you are buying and make sure you use the right investment appraisal approach"
"Erase 'intangible' from your vocabulary. If it's not important enough to measure, it's not important enough to do"
"we had 60 people creating 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 and "Zoom" in on the important stuff.
"A portfolio that can't show return on investment isnt a portfolio, its just a shopping list of projects that someone is funding"
"We knew which projects we would kill, and who would be unhappy about that"
"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...people don't talk enough these days, so they love it when you do"
"I used the same questions in every interview so I coud create a trusted visualisation of the world"
"A portfolio blueprint helped people understand how it would all fit together"
"We rapidly designed and implemented an enterprise portfolio office based on the capability assessment and the blueprint"
"It gives everyone a common understanding"
"This was one of several lenses that helped us plot and prioritise our projects"
"We never communicated"
"For the first time we could plan for our Cabinet Office assurance reviews and see when we needed resources"
numbers
removed
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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"
"We felt we were artists designing the future. Empowering people to be creative excited people to be involved. We took inspiration from other artists too."
He didnt say "I have a MS project plan"
Full transcript