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How to implement portfolio management in 100 days
Transcript of How to implement portfolio management in 100 days
in 100 days
You can get
has never been more
...and this too
like your morgage rate
National Well being
Gross Domestic Product (GDP)
Retail Price Index
...and 400+ others
(yes we do baby
...and 400+ others
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
I can see where we
are good (and not
so good) at portfolio
I can see an overall
We are having good
Wow...loving this Exec
Portfolio Dashboard. We
are making confident
I can see contribution
to our strategy.
We prioritised projects!
... but good!
We make more confident
investment decisions, people
are happier, We know what
projects to kill if budgets
are cut (and who will feel pain)
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
clear decisions and delivery
better Executive conversations
Agree Executive value upfront
Collaboration and conversation
Measure capability, energy, happiness
Vision and Blueprint
What's keeping you awake
see the horizon
in the question
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?
BAU Resource risk
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?
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)
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?
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
100 days gets to base camp.
Visualising the Portfolio Capability
Visibility of all change
Contribution to strategy
Consistency: Transparency, Investment Truth, Prioritise, Benefits
Confidence - right investments
Energised teams = great teams
We engaged people and they contributed to the journey
Measure it! (if worth it)
Are we serious about portfolio management?
..and Managing Benefits from APMG International
"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"
Actual Value Moments Result
= 1 value moment per 1.8 secs within a 17 min presentation
"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"