Hi folks, We’ve made some recent updates to Lean Portfolio Management (LPM), an area of the Framework that has been quickly evolving over the past few releases of SAFe. Information Technology Portfolio Management of Energy, Installations and Environment Investments (PM) The DoDI 8115.02 (PDF, 4.38MB), Information Technology Portfolio Management established policy for Information Technology (IT) portfolio management and the National Defense Authorization Act For Fiscal Year 2012 (FY12 NDAA) (PDF, 1.26MB) established policy for IT investment management. This paper looks at the organi… As organizations mature on the journey to optimal Agile practices, they need to align new Agile practices to their PPM function. Collect Project Data. Project, Program, Portfolio Management (P3M™) Framework Rob Buhrman, PMP, PgMP, CSM, ITIL robbuhrman@gmail.com This presentation is intended solely for the person or entity to which it was initially provided and contains confidential and privileged information. The framework contains information about each portfolio and the investments that comprise each portfolio, highlighting both the positive and negative aspects of these investments. Developing an IT portfolio management game plan, 7. %%EOF In doing this, we consider the characteristics of … For best-practice companies, these processes are standardized, consistent, and visible across the enterprise. The IT portfolio management step-by-step methodology presented in detail in Chapter 5 is a proven process for applying IT portfolio management and has eight stages. With this analysis, managers then identify gaps and shortcomings, devising ways to (Note: Adapted from "Assessing Risks and Returns: A Guide for Evaluating Federal Agencies' IT Investment Decision-Making," United States General Account Office, February 1997, http://www.gao.gov/special.pubs/ai10113.pdf.). PPM offers a robust framework that includes Demand, Portfolio, Project/Program, and Results Management. Portfolio management is about aggregating sets of user needs into a portfolio and weighing numerous elements to determine the mix of resource investments expected to result in improved end user capabilities. Governance provides a critical underpinning for portfolio management … ��/��;�ͻS�m�6�Vʇ. http://www.gao.gov/special.pubs/ai10113.pdf. 847 0 obj <>stream You can’t boil the ocean. �,O�),�a�tQx ��d�:���"����$!��Vue�w���\2�\Ȕa4�� ���@�-��$�!�_��4HX$�A����9���qC����3�W �5,0+`d���)A����.���7��@-��} � 1pd�iF r{�#�Hs00X���%�����J � �B/� �(�d�j��[�H����������dP�#��dN�j���F{�M��.��V5]���H�� !����+��������"l,9���+b���6��GZ�� ��bH��qD���wcP�g� l�^�)'b��Ĕ1(���)�Jp.���Q�E�"J#~;D����o|�۳=�l^��lsN�8�Jw8V����?ι����jr~��d��^&ۉm�w� �jgs8"i��Y���X����6% �/�ձ�8;#4�*�+�?��p"D��w��J3��0��p�b� ��1���E�����Y���%���P۰�� �R�'o���JM�jx�Alȝ����!=v�e��wH�< Define the Objectives. The first stage, the game plan, determines the objectives for IT portfolio management and assesses the main points to establish the most practical areas to address. They serve as a framework that should be adjusted based on the reader’s objectives. 3. Processes and a framework to plan, create, assess, balance, and communicate the execution of the IT portfolio. Determine Portfolio Structure. Formulation includes assessment of the environment in which the organization operates and then creating a strategy on how the organization will operate and compete. In contrast, PPfM focuses on doing the right projects at the right time by selecting and managing projects as a portfolio of investments. The main responsibilities of portfolio managers for IT projects include analysis of current and future applications as well as projects within the organization. P3M - Project, Program, Portfolio Management Framework 1. Modern portfolio theory provides foundational concepts that are useful in multiple portfolio management environments. Track to your Targets Capital & Expense budgets / Scope / Schedule / Timeline. PORTFOLIO MANAGEMENT A N SI/PMI 08- 0 3 - 2 0 1 7 The Standard for PORTFOLIO MANAGEMENT Fourth Edition The Standard for Portfolio Management – Fourth Edition In today’s environment of rapid change and constant disruption, highly mature portfolio management practices have proven to be a vital tool to organizational success. For these companies, the IT portfolio management framework is incomplete; it is missing key criteria, is not conducted uniformly, and is not applied across the entire organization nor over the entire life cycle of an IT investment. A Framework for IT Portfolio Management Andrew Makar - July 16, 2007 Dr. Andrew Makar is an IT program manager and is the author of the Microsoft Project Made Easy series. Every manager has a good idea of what portfolio management means in an investment context. R ��8�jK��A����d��wɴ���R�w�{�� �yg68�V%>~��*��*��{���v�ߔ ������A������?��M�j�[U�;����0ܪ��O��A��wT�=���{�7�ؐt��k���M� Z�("jY"�;(���1��h\*��q h�b```��,QY� �� The IT portfolio management step-by-step methodology presented in detail in Chapter 5 is a proven process for applying IT portfolio management and has eight stages. What developed was a governing body called the Strategic Management Team(SMT) which uses the Michigan Portfolio Assessment Framework for aligning and prioritizing government information technology projects to deliver better balance between different types of investments, flexibility and agility to keep up with new or changing political priorities, and to gain consensus among a broad group of IT … Developing and evolving IT portfolio governance and organization, 8. Evaluate technical condition, business alignment, and risk. Subscribe to access expert insight on business technology - in an ad-free environment. Build the list. IT portfolio management is the application of systematic management to the investments, projects and activities of enterprise Information Technology (IT) departments. Assessing IT portfolio management process execution. Portfolio management is defined as the centralised management of one or more portfolios, which includes identifying, prioritising, authorising, monitoring and adjusting projects, programs, and other related work, to achieve specific strategic business objectives. It requires completely different techniques and perspectives. It encourages users of IT portfolio management to avoid analysis paralysis and begin to make decisions. endstream endobj 823 0 obj <>stream Continually Re-Assess and Determine Trade-Offs �y��y��w�A�v���'� =)T Gartner defines IT project portfolio management as a “strategy for oversight of a portfolio of related or interdependent IT projects, with the intent of limiting duplicate work efforts and leveraging decision making and skills across projects” (Gartner Glossary, 2007). Balanced Scorecard / Project Dashboard / KPIs. This framework provides a "line of … All products have a certain amount of value to your firm and a certain amount of value to your customers. The Seven Principles of Val IT. Good portfolio management increase… This paper will address the growth o… h�bbd```b``���@$S�d���`v0�&�Ad�^��$�6��\Q 2�3�d��̞ 3�x�c`bd`>6���L�?ÿ�� _�2 With IT portfolio management , project planning is viewed as a fundamentally top-down initiative and external stakeholders are required to take part in the decision making process. To begin, establish a framework to “bucketize” your products based on a product valuation system. This is similar to the first step of the budgetingBudgetingBudgeting is the tactical implementation of a business plan. 819 0 obj <> endobj IT-enabled investments will be managed as a portfolio of investments. This article is excerpted from IT Portfolio Management Step-by-Step: Unlocking the Business Value of Technology, by Bryan Maizlish and Robert Handler. Information and data are derived from the strategic intent, strategic plan, and business and strategic objectives. Scheduling is often seen as the beginning, and almost the finest deliverable, of project management practices within an organization. Best-of-breed strategies and process coupled with a project portfolio management tool set create this framework. Analysis of the IT portfolio identifies specific areas in need of improvement, holes in the requirements and architecture, misalignment to the strategic intent, areas that are being overserved and underserved, and so on. The objectives of PPM are to determine the optimal resource mix for delivery and to schedule activities to best … Examples of IT portfolios would be planned initiatives, projects, and ongoing IT services (such as application support). PwC’s framework covers the planning and delivery functions of IT portfolio management, which can be improved individually or in groups as well, depending on our Client’s needs. IT portfolio management takes into account all the current and planned IT resources and provides a framework for analyzing, planning and executing IT portfolio’s throughout the organization. In the context of enterprise architectures, alignment is sought not just for parts of the organization, but also for the enterprise wher… PPO refreshes Coca-Cola Beverages Africa’s project portfolio management framework Coca-Cola Beverages Africa (CCBA) has kicked off the roll out of Project Portfolio Office’s PPO, a locally developed, secure, cloud-based project portfolio management application, in order to help the operation realise project value as quickly as possible. Management of IT portfolio is the process of rationalizing and organizing IT applications in your company to meet specific business needs. But scheduling is not, and definitely should not be, a finite practice. Copyright © 2020 IDG Communications, Inc. To achieve the goa… A common business taxonomy and governance that communicates and defines the principles, policies, guidelines, criteria, accountability, range of decision-making authority, and control mechanisms. IT portfolio management exists to create, provide and measure business value of IT. What-if analysis can be performed, which will impact and alter the ranking and prioritization of IT investments. IT Portfolio Management is the combination of tools and methods used to measure, control, and increase the return on both individual IT investments and on an aggregate enterprise level in a desirable manner that meets the organisation’s business objectives without exceeding available Nonetheless, the eight basic stages are: 1. endstream endobj startxref Portfolio management processes can be separated into four layers. It has become a very popular competency for enterprises who wish to improve their Business Agility and accelerate their digital transformation. It facilitates decision making, through evaluation, selection, … h޼��n�6�_���X��ix |�4'��f� ��:��R`+����'����I.j��Lɡ��3t�0Μ��XT�9��3�$s�3-j��Ҩ%�֣VLh[������$I;~M.�e�i��~,V�s9����zʒ��$�]��ר�E���������b0���}r6�u6�G^~{�U�l��M�5�.��j�L�d�g�7�\]�=W�L$�>�W�Y2�H�?`Zf���dZ�u���8�zj��za���0�5O����Y�x��&eM׉����b͔LN�����'�P�c�s'x����2/~}���ܴ�E�ϫD�Tl �*9����hxqۧ�*�g�/ Mw�G���N�|�/E�x2���̹f��4x�ʟ�j�|o7B��m��Lv��j����./��:��?�W�z����6;�G`�N���D�9��A�覺-s̖�^F���Xm^?��%� endstream endobj 820 0 obj <>/Metadata 27 0 R/OCProperties<>/OCGs[836 0 R]>>/Outlines 43 0 R/PageLayout/SinglePage/Pages 817 0 R/StructTreeRoot 52 0 R/Type/Catalog>> endobj 821 0 obj <>/ExtGState<>/Font<>/Properties<>/XObject<>>>/Rotate 0/StructParents 0/Tabs/S/Type/Page>> endobj 822 0 obj <>stream In order to meet the shareholder objectives, organizations are increasingly establishing Project Offices to support project administrations, Project Management Offices (PMOs) to support getting successful projects, Program Management Offices to support getting and sustaining the benefits from projects/programs, or Project Portfolio Management Offices to support achieving the strategic business goals. These stages are not intended to be applied in a waterfall manner (i.e., serially). IT Portfolio Management Framework IT Portfolio Management Framework. With so many products to consider, you’ll need to create a strong organizational system to support effective product portfolio management. 0 The goal of IT strategy and governance is to ensure alignment of IT investments with program objectives and priorities, while maximizing return on investment and minimizing risk. PortfolioStep Portfolio Management Framework™ Overview Portfolio management is a business process that requires a set of detailed processes to be conducted in an interrelated continuous sequence. Used with permission of the publisher John Wiley & Sons Inc. There are elements of IT portfolio management that exist in all companies. 835 0 obj <>/Filter/FlateDecode/ID[<0CA96827CDABCA43AA4D26E944C4B718><1DF95E4D4AD745488138291E09DFEF1E>]/Index[819 29]/Info 818 0 R/Length 93/Prev 570794/Root 820 0 R/Size 848/Type/XRef/W[1 3 1]>>stream The primary... Primary Process Layer. Assessing ongoing projects and the project pipeline against the organization’s … Project and program management are about execution and delivery---doing projects right. VAL IT Domains Val IT is a complete framework covering three major domains: value governance; portfolio management and; investment management processes and activities. The offering package isset to bring personalized service every step of the way of an effective IT delivery process with all planning, execution and operation related activities. H�l�Ko�@��|�9�Ry�. There are three primary areas of IT portfolio management: 1. Most companies utilize simple and straightforward financial models to make investment decisions. How to protect Windows 10 PCs from ransomware, Windows 10 recovery, revisited: The new way to perform a clean install, 10 open-source videoconferencing tools for business, Microsoft deviates from the norm, forcibly upgrades Windows 10 1903 with minor 1909 refresh, Apple silicon Macs: 9 considerations for IT, The best way to transfer files to a new Windows PC or Mac, Online privacy: Best browsers, settings, and tips. Tools that analyze information and data, such as value, costs, risks, benefits, requirements, architecture, and alignment to business and strategic objectives. These new Agile … Portfolio management provides a disciplined approach for prioritizing IT initiatives within a program according to specific criteria and managing these projects as an interlinked group. 2. '�S�U�ZL��`"���DŽ" IT portfolio management requires input from across the organization, including finance managers, executive management, and business groups, as well as IT managers. Portfolio Execution: Selected programs and projects are executed and the application portfolio is... Support Process Layer. Information and data are fluid. %PDF-1.6 %���� In today’s fast-paced world, waterfall approaches to delivering anything are proving less and less effective. They have very similar goals and objectives: maximizing value (tangible and intangible) while managing risks and costs. Project portfolio management (PPfM) is fundamentally different from project and program management. The key elements that portfolio management must assess are overall goals, timing, tolerance for risk, cost/price, interdependencies, budget, and change in the enterprise envi… The ITIM framework is a maturity model composed of five progressive stages of maturity that an agency can achieve in its IT investment management capabilities. It's about stepping back and looking at the entirety of your investments to ensure that they make sense when viewed as a group. Project Portfolio Management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics. IT Management Framework CONOPS HUD's framework for managing IT investments integrates IT strategy development, enterprise architecture, capital management, project management and investment performance measurement. IT Portfolio Management Framework. Weighting and scoring are applied against information and data in order to prioritize and rank investments. As organizations begin to mature and develop deeper and broader project management practices into a more Enterprise Project Management (EPM) framework, scheduling must mature as well. Techopedia explains IT Portfolio Management
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