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Portfolio Management Process

The presentation gives a high level overview of the processes used to convert business opportunities into different types of projects to, in the end, deliver the biggest benefit.

Jacco Weijers

on 20 August 2013

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Transcript of Portfolio Management Process

An Idea
A Mandate
The SCM Program Board
Assessment Meeting
The Pipeline
Value Stream Mapping phase

Kaizen List

A Project Plan

The running phase
The Kaizen phase
30 days
A Mandate
The SCM Program Board
standard meeting

Benefit Review Plan
The mandate captures the high level information on scope, timeline, resources and budget. Based on that info the Mandate receives a scoring.
During the Assessment Meeting the priority ranking of all new Mandates and the Mandates from the Pipeline is reviewed and the SCM Program Board evaluates the bandwidth available for new projects. If resources are available the top priority Mandates will be moved to preparation. Mandates that are not moved to preparation reside in the pipeline.
Mandates reside in the Pipeline to await the next assessment meeting. If a Mandate is in the Pipeline it has the status 'on hold' so nobody can work on it.
In the preparation phase the idea from the Mandate is further explored and detailed to eventually draft the Project Initiation Documentation (PID). A Project Manager is appointed to handle day to day project management and a Project Board is installed to monitor detailed project progress.
During the Value Stream Mapping (VSM) phase the current state and future state map are constructed and a list of Kaizens is formulated to get from the current to the future state.
The project deliverables stated in the PID are planned and the project team is installed to start working. Tolerances are set to trigger escalation to the SCM Program Board.
As soon as the Mandate is approved by the SCM Program Board, automated high level reporting on progress is facilitated by the Project Management Office (PMO) using MS SharePoint
A Kaizen is aimed at a strong bias for action and thus should have a short run time. The cutoff point is 30 days, which means that any improvement needed to get to the future state that takes longer than 30 days will have to be done in the structure of a separate PRINCE2 project.
When all deliverables are accomplished the project and/or lean event is closed
The Benefit Review Plan is created during the closure of the project and is used to track the Benefits generated by each finished project
During the running phase the project plan is executed and the project deliverables are being created.
When a Mandate is moved to preparation it can follow two paths. One for PRINCE2 Projects and one for Lean Events.
The preparation phase
The list of Kaizens is prioritized and the top two to four (depending on the resource availibility) Kaizens are started.
If needed, the SCM Program Board provides ad hoc direction to a project. This is done to optimize the total portfolio of SCM projects.
The total list of Kaizens that came from the Value Stream Mapping is executed during this phase to deliver all the needed new lean processes. Each time one Kaizen is completed, the next one (the one with the highest priority at that moment) is started. A Kaizen is set up as a Subproject of a VSM project in the portfolio hierarchy.
SCM Portfolio
PRINCE2 Project A
PRINCE2 Project B
VSM Project 1
Kaizen 1A
Kaizen 1C
Kaizen 1D
Kaizen 1B
Availability, planned workload and actual workload of all resources will be registered using the time writing tool SPaRC. The PMO will produce monthly reporting on resource cost and availability issues to support the standard meetings of the SCM Program Board.
Total Cost
Once the project/lean event is closed, the total cost (for hours spent and tools/systems bought) can be determined.
Benefit Realization Tracking
The PMO will track the realization of the Project Benefits indicated in the Benefit Review Plan. The PMO will provide quarterly reporting on project and portfolio cost and benefits to support the SCM Program Board assessment meeting.
The Project Manager asks for resources
Team Member
Resource Manager
Project Manager
The Resource Manager assigns a Team Member and signals the allocation to the PMO
The Project Manager assigns the Team Member to project Tasks
The Team Member submits his actuals via a timesheet
The Resource Manager approves or rejects that timesheet
SPaRC is a time writing tool that is already fully deployed within NXP and the total SCM S&P community (50+ people) is already using it.

Projects will only get two task (preparation phase and running phase) to minimize the amount of items in the timesheet.

Project Managers will request resources for their project, which are to be approved by the Resource Managers of each requested resource.

Timesheets can be autopopulated with the tasks assigned to you and autofilled with last weeks' hours you registered for those tasks, limiting the total time needed to fill in your timesheet to several minutes per week.

Resource Managers will get a weekly overview of the timesheets that need their approval and can simply click 'approve' or 'reject' per timesheet.

SPaRC has automated workflows and reminders to increase responsiveness.

As a last resort, the PMO is authorized to approve timesheets when a Resource Manager fails to do so.
Time Writing Process
The PMO enters the allocation
Full transcript