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What in the world is Portfolio Management

This is a copy of my Prezi from the @APMG_Int Webinar on 25 June 2013. If you have any questions zap me at @MrPortfolio
by

Craig Kilford

on 25 June 2013

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Transcript of What in the world is Portfolio Management

...and 400+ others
(yes we do baby
names too)
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
Communication
Conversation
Collaboration
How happy are you out of 10
with the way ONS manages change?
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

4.3 happy

6.4 happy
April 2012
Oct 2012
Measuring Portfolio Management Capability
Visibility of all change
Contribution to strategy
Consistency: Transparency, Investment Truth, Prioritise, Benefits
Confidence - right investments
Collaboration
Energising
Community'tion
happiness is
important
Released by the UK Government in 2011
"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!"
"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"
"Communication is soooo last millenium"
"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"
Our Challenges
The Portfolio
Management
Model

12
Nuggets

Senior Management
Commitment

Energised
Change
Culture

Portfolio
Office

Strategy Alignment
Governance
Alignment

Portfolio Definition
Portfolio Delivery
ENERGY
"A coordinated collection of strategic processes and decisions that together enable the most effective balance of organisational change and business as usual"
Governance
Strategic Planning
Investment Appraisals
Project and program delivery
Skills and people development
Collaboration
Accurate information
Confident decisions
Clear line of sight
Benefits management
Understanding of risk
Strategic Contribution
Portfolio Management is...
000's people certified around the world
UK, Europe, USA, Canada, India, Australia, China, South Africa, New Zealand, Saudia Arabia, Mexico...
5 principles
2 infinate cycles
Are we sure we
should be investing
in this project?
What we need is an overview of all the projects, and one we can trust!!
I don't know what the benefits are, but I like the name.
Enough! Get me someone that can help us understand what projects we should be buying!
to set the foundations
to make it happen
Already got organisational goverance?
Great, use it.
Don't re-invent a new governance wheel
Document it so people can understand their role and the rules easily (use pictures)
Investment, escalation and issue resolution process must be crystal clear
Schedule the meetings to facilitate most effective decisions making
Don't let projects go under the radar to hide from goverance
Schedule the meetings to facilitate most effective decisions making
...publically support
portfolio management?
...actively participate in processes like prioritisation, strategic planning and delivery?
...contribute their own experience and expertise?
...let go of pet projects if it's not benefiting the whole team?
...work as one team and play by the agreed portfolio rules?
...communicate decisions clearly to the rest of the organisation?
Do you help your Senior Executives to...
Well defined objectives, mesures and targets?
What is every projects' contribution to strategic objectives
Collaboration is key, strategic planning, finance...
Regularly review the whole portfolio, still giving us the bang we want?
Use of a project delivery lifecycle with strategic contribution checks.
Report to the Executive Leadership
Explicit services and clear value add
Focus on collaboration
and community
Skills and development
Process and mechanisms
Single source of truth
Permanent.
Think about the best team you've ever been part of...
Collaborative working
Proactive conversations & communication
Lessons can be learned
Listen, involve, feedback, transparency
Trust, honesty, openess
shared values
Clear expectations
Objectives aligned to and contribute to strategy
Keep track of energy, measure, ask people
A proper Portfolio Office
For best results have a corporate strategy
Understand
Categorize
Prioritize
Balance
Plan
Got up to date project
information?
Are stakeholders engaged?
Is all information accessible?
Can you start to analyse?
Are you confident about the
information and analysis?
Do other departments agree it?
Are relationships built?
Measured current Portfolio
Management capability?
Got a feeling for the Energy & Happiness levels?
Is it easy for people to understand the current understanding?
Understand where you are first
@APMG_Int #webinar
make it suit you
Strategic Objectives,
business area, geography, project type...
Use categories to show contribution

to strategic objectives
Suit your organisations situation
Be creative with presentation but be careful
Link benefits and investment criteria to categories
and strategic objectives
What should we invest in?
Whats the most important?
What should we resource first?
Tailored the prioritisation criteria to your portfolio segment / organisation?
Designed the process collaboratively so everyone understands?
Used attractiveness, achieveability, affordability and risk to rank projects?
Got a Portfolio Office that is ensuring transparency and due process?
Have you...
(portfolio jiggery-pokery)
Objective: Make it all fit: Time, cost, resources, risk appetite, political pressures, resource and skills availablity... oh and make sure everyone is happy too.
Must do checklist
Categorise & Prioritise first
Plug decisions into Exec governance
Collaborate with everyone
Use pretty pictures for findings
Base findings on evidence
Be sensitive (this can be emotional)
Confident analysis
Bring it all together in one portfolio strategy
Give people Answers
What projects?
Whats in what's out
Resources & Finance?
Milestones & Decisions?
Killer dependencies & Risks?
Portfolio Delivery Journey?
Total return on investment?
Portfolio Office services?
Benefits Eligibilty Guidance?
Governance?
Skills development?
Management
Control
Benefits
Finance
Risk
Stakeholders
Organisational
Governance
Resources
How can you mobilise the emotional, cognitive and behavioural potential of your people?
High
Corrosive
Resigned
Productive
Comfortable
Low
Intensity
Quality
Negative
Positive
Organisational Energy Matrix
Energy Booster
Connection: Do people connect to the values and strategy?
Content: Does their work excite them?
Context: Do processes and practices enable success?
Climate: Does the organisation help people?
Bruch & Vogel: Henley Business School
Thats a great
idea big nose
Oi, if you call
me big nose
one more time I'll...
Got no
?
Segment the portfolio & prioritise
Rate projects i.e. Mission Critical, Highly Desireable, Desireable.
Decision conferencing, pair wise comparison with Executive Leadership team.
Staged funding
Benefits led
Benefits
Eligibility
Guidance
12 Nuggets from my experience
Measuring Portfolio Management Capability
2
How happy are you out of 10 with the way you're organisation changes?
4.3 Happy
6.4 Happy
Before and after Portfolio Management
3
Communication
Conversation
Collaboration
Community!
4
1
5

"We successfully deliver the right projects and programmes, in the right way, with the right people every time".
Have a dream for
Portfolio Management:
6
7
7
Portfolio Office skills are a must
8
different
originality
impact
G
reat
U
seable
C
lear
C
oncise
I
nformative
ideas
inspired
9
What is the contribution to our strategy?
What is the most important project?
Use simple pictures
to help big conversations
Provide a level playing field for benefits
10
What kind of projects are we investing in?
numbers
removed
Never give an Executive Board a Harry Potter sized status report
Provide portfolio level summary and Zoom in when you need to
11
12
Take people on a portfolio journey. Show them the destination and how we are going to get there together.
The magic is in making the stuff in the book real for people

Thanks for attending.

Tweet thoughts or
questions to:
@AMPG_Int
@MrPortfolio
APMG-International.com
really really important stuff
Full transcript