PROJECT PORTFOLIO MANAGEMENT (PPM)
Project Portfolio Management (PPM) is a discipline that drives strategic execution and maximizes organizational value through the selection, optimization, and oversight of product and project investments.
PCG has been providing project portfolio management services for over 15 years and bring a wealth of knowledge, insights and experience to the table. We understand value realization and successful adoption involves more than implementing a tool.
WHAT IS PROJECT PORTFOLIO MANAGEMENT?
EXPERTISE • CONSULTING • SERVICES • SOLUTIONS
Project Portfolio Management is the methodology used to select, maintain and deliver the right mix of projects that best utilize an organization’s valuable and finite resources. Without these methods, companies may execute projects that do not align with corporate goals and strategies or continue projects that should be stopped due to scope/schedule/cost misalignment or changes in portfolio priorities.
Although PPM capabilities have become more common in the past 10 years, many organizations continue to struggle or lack the adequate processes and controls to be successful. For example, many organizations have difficulty incorporating role/resource capacity planning, allocation, and assignment.
HOW CAN PROJECT CONSULTING GROUP HELP?
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Keep scrolling to learn more about PCG's PPM program
800-731-7153
Project Portfolio Management (PPM) is a discipline that drives strategic execution and maximizes organizational value through the selection, optimization, and oversight of product and project investments.
PCG has been providing PPM consulting services for over 20 years and brings a wealth of experience and insights to the table.
PCG has been at the forefront of product, software, and service delivery frameworks and disciplines for more than 20 years. In our experience, organizational change management is the most critical component for organizations adopting Agile. We are frequently asked to speak and provide input into industry best practices and standards.
About 15 years ago we expanded our capabilities to include the rational unified process (RUP), providing our clients the concept of iterative development and delivering business value incrementally in a time-boxed cross disciplined approach. Over the past 10 years, we developed our agile practice, including our propriety component playbook and ARTS program. Organizational characteristics shape the optimal playbook
We packaged some of the more common service offerings below, although PCG will provide a tailored service to meet your specific business needs. PCG provides advisory, strategic, and tactical execution services. Our senior consultants work with leadership teams to address opportunities and challenges, determine options, set direction, and design a pragmatic approach. Our delivery consultants execute upon that vision.
PROJECT PORTFOLIO MANAGEMENT (PPM)
The global threat environment has intensified resulting in business continuity, disaster recovery, crisis management, and emergency response becoming an area of focus for board of directors, executive leaders, clients, customers, and regulators. This increased focus has resulted in greater maturity and heightened expectations around response, recovery, and communication capabilities.
Business continuity management identifies these potential threats and impacts to your business, creates the organizational resilience and recovery capabilities for an appropriate level of response, and safeguards the interests of your customers, employees, reputation, and value. Potential threats include items such as natural disasters, technological failures, data breaches, human error, fire, terrorism, lawsuits, misconduct, acts of violence, labor action, or drop in share price.
There are multiple components encompassing a robust business continuity program, in addition to several ancillary items such as event/incident management, disaster recovery, crisis management, and emergency response. The terminology used within industries, by regulations, and across vendors is inconsistent at best, so we recommend focusing on the components rather than debating the nomenclature. Below are the components.
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OUR PPM COMPONENT SUMMARY
YOUR COMPLIMENTARY DISCOVERY SESSION INCLUDES:
Dedicated time with a PCG PPM Expert
Identify Goals and Strategies
OR
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A Review of your Current-state
Define Future-State Needs
EXPERTISE • CONSULTING SERVICES • SOLUTIONS
Project Consulting Group
Provide Top Talent
PCG employs subject matter experts and leaders across all areas of Project Portfolio Management
Deliver Tailored Approaches
Every organization has unique challenges and demands that require flexible service offerings.
PCG solutions balance people, processes and tools to help drive change and stakeholder alignment.
Drive Organizational Change
"PCG did a tremendous job with our project. They built a strong rapport with the business owners, which helped create trust and confidence."
- Director at a fortune 500 Bank
& Financial Services Company
IIBA Premier Sponsor
Fast 50 Company
PMI Corporate Partner
Project Consulting Group
SERVICES SNAPSHOT
Project Portfolio Management is the methodology used to select, maintain and deliver the right mix of projects that best utilize an organization’s valuable and finite resources. Without these methods, companies may execute projects that do not align with corporate goals and strategies or continue projects that should be stopped due to scope/schedule/cost misalignment or changes in portfolio priorities.
Although PPM capabilities have become more common in the past 10 years, many organizations continue to struggle or lack the adequate processes and controls to be successful. For example, many organizations have difficulty incorporating role/resource capacity planning, allocation, and assignment.
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CEO of a Global Manufacturing Company
PCG has done an excellent job at leading our multi-year project.
Manager at a Government Agency
PCG is very professional and has a broad range of abilities. They took great care to identify the help needed.
PCG did a tremendous job with our project. They built a strong rapport with the business owners, which helped create trust and confidence.
Manager at a Multinational Bank and Financial Services Company
- VP of an International Agricultural and Food Company
I wanted to reach out to PCG and say thank you for a job well done!
VP of Fortune 500 Bank
I can’t express how much I appreciate the leadership and guidance PCG provided to our program.
PCG was excellent in defining and implementing the framework that has helped provide significantly improved governance and transparency.
Director of Mid-Market National Retailer
Manager at a Fortune 500 Financial Services Company
I want to make sure to recognize the great work PCG did on the project, you have certainly surpassed my expectations.
Director at a National Insurance Corporation
You have no idea how nice it is to hand off something like this to someone you know will stay on top of it and communicate progress. Great job.
PCG has been a great partner to us and if we need consulting help, we reach out. Thanks!
National Health Insurance Company
DELIVER ON TIME.
DELIVER ON BUDGET.
Mission: Provide our clients with industry leading Project Portfolio Management strategic consulting and subject expertise services.
PPM FRAMEWORK
The PPM Framework defines a tailored organizational strategy that encompasses the interconnected capabilities of portfolio management, project office, and project/product management. Where required this includes other demand including operations, incident, and enhancement work - see ‘demand management’.
EVALUATION AND PRIORITIZATION
The model for evaluating and prioritizing work consists of multiple criteria for scoring and ranking. The criteria may include strategic, financial, risk, return, and product key performance indicators. This model is multidimensional and includes new, inflight, and product backlog work.
PORTFOLIO STRUCTURES
A project portfolio structure may include a run-grow-transform model, a productized model (to better support agile delivery), or a hybrid model. It is typically established in correlation with the PPM Framework strategy and aligned to the organization.
IDEA MANAGEMENT
Idea management facilitates the identification and approval of discretionary project requests or product backlogs. This process helps organizations harness ideas from across the organization which are then funneled through the ‘evaluation’, ‘prioritization’, and ‘demand management’ process.
ROLES AND RESPONSIBILITIES
Defined roles and responsibilities across the interconnected capabilities contribute to organizational alignment within the PPM Framework. This includes representation from across the organization to assist in managing the components of project portfolio management.
METRICS AND REPORTING
Portfolio, program, and delivery team metrics are used for reporting performance, making decisions and continuous improvement. Metrics can include financial, schedule, and quality information as well as key performance indicators like product performance, customer satisfaction, and team morale.
GOVERNANCE & ACCOUNTABILITY
An effective PPM framework requires the right level of non-invasive governance to assist with policy development, adoption, and execution. This governance structure facilitates strategic investment alignment and helps ensure quality information is available for decision management.
SYSTEMS AND TOOLS
Systems and tools play a role in helping manage and streamline project portfolio management practices as well as product and project execution. The right balance of people, processes, systems and tools are applied over time to improve organizational effectiveness, efficiency and adoption of these practices.
RESOURCE MANAGEMENT
The resource structure defines how people and other resources are aligned to work. This structure, the ‘capacity planning’ model, and the ‘optimization’ approach needs to work in conjunction with one another. This component considers the utilization of temporary project teams as well as persistent demand product teams.
OPTIMIZATION & SELECTION
Portfolio optimization and selection considers potential opportunities and constraints specific to interdependencies and resourcing. The most effective model will be dependent on the makeup of the portfolio, product, and resource management structures.
DEMAND MANAGEMENT
Organizational demand includes more than new discretionary ideas; it includes nondiscretionary projects as well as non-project work for shared resources. This process helps support an organization’s portfolio management practices including ‘financial management’, ‘capacity planning’, and portfolio ‘optimization and selection’.
FINANCIAL MANAGEMENT
Financial management evaluates the budget, actual cost, and benefit of investments. Non-financial key performance indicators, converted into financial metrics, are starting to play a larger role in driving the decision management process.
EXECUTION INPUT
Providing visibility into investment evaluation and selection criteria such as strategic alignment, finance, and risk increases the likelihood of delivering the intended benefits. The execution input process provides clear direction to the delivery teams around scope, cost, timeline and quality expectations.
EXECUTION OUTPUT
Delivery teams work in conjunction with the project office or product owners to provide traditional status and key performance indicators. An escalation process provides a channel for issue and risk review and resolution. The execution output process is used for driving near real-time, iterative, and stage gate decision making.
CAPACITY PLANNING
Capacity planning practices align demand with resource allocation and availability. The capacity planning model can be by individual, team, or based on a hybrid method. Multiple project portfolio management components and strategies are considered and will influence the best approach.
PPM FRAMEWORK
The PPM Framework defines a tailored organizational strategy that encompasses the interconnected capabilities of portfolio management, project office, and project/product management. Where required this includes other demand including operations, incident, and enhancement work - see ‘demand management’.
EVALUATION AND PRIORITIZATION
The model for evaluating and prioritizing work consists of multiple criteria for scoring and ranking. The criteria may include strategic, financial, risk, return, and product key performance indicators. This model is multidimensional and includes new, inflight, and product backlog work.
PORTFOLIO STRUCTURES
A project portfolio structure may include a run-grow-transform model, a productized model (to better support agile delivery), or a hybrid model. It is typically established in correlation with the PPM Framework strategy and aligned to the organization.
ROLES AND RESPONSIBILITIES
Defined roles and responsibilities across the interconnected capabilities contribute to organizational alignment within the PPM Framework. This includes representation from across the organization to assist in managing the components of project portfolio management.
METRICS AND REPORTING
Portfolio, program, and delivery team metrics are used for reporting performance, making decisions and continuous improvement. Metrics can include financial, schedule, and quality information as well as key performance indicators like product performance, customer satisfaction, and team morale.
GOVERNANCE AND ACCOUNTABILITY
An effective PPM framework requires the right level of non-invasive governance to assist with policy development, adoption, and execution. This governance structure facilitates strategic investment alignment and helps ensure quality information is available for decision management.
SYSTEMS AND TOOLS
Systems and tools play a role in helping manage and streamline project portfolio management practices as well as product and project execution. The right balance of people, processes, systems and tools are applied over time to improve organizational effectiveness, efficiency and adoption of these practices.
RESOURCE MANAGEMENT
The resource structure defines how people and other resources are aligned to work. This structure, the ‘capacity planning’ model, and the ‘optimization’ approach needs to work in conjunction with one another. This component considers the utilization of temporary project teams as well as persistent demand product teams.
OPTIMIZATION AND SELECTION
Portfolio optimization and selection considers potential opportunities and constraints specific to interdependencies and resourcing. The most effective model will be dependent on the makeup of the portfolio, product, and resource management structures.
FINANCIAL MANAGEMENT
Financial management evaluates the budget, actual cost, and benefit of investments. Non-financial key performance indicators, converted into financial metrics, are starting to play a larger role in driving the decision management process.
EXECUTION INPUT
Providing visibility into investment evaluation and selection criteria such as strategic alignment, finance, and risk increases the likelihood of delivering the intended benefits. The execution input process provides clear direction to the delivery teams around scope, cost, timeline and quality expectations.
EXECUTION OUTPUT
Delivery teams work in conjunction with the project office or product owners to provide traditional status and key performance indicators. An escalation process provides a channel for issue and risk review and resolution. The execution output process is used for driving near real-time, iterative, and stage gate decision making.
CAPACITY PLANNING
Capacity planning practices align demand with resource allocation and availability. The capacity planning model can be by individual, team, or based on a hybrid method. Multiple project portfolio management components and strategies are considered and will influence the best approach.
IDEA MANAGEMENT
Idea management facilitates the identification and approval of discretionary project requests or product backlogs. This process helps organizations harness ideas from across the organization which are then funneled through the ‘evaluation’, ‘prioritization’, and ‘demand management’ process.
DEMAND MANAGEMENT
Organizational demand includes more than new discretionary ideas; it includes nondiscretionary projects as well as non-project work for shared resources. This process helps support an organization’s portfolio management practices including ‘financial management’, ‘capacity planning’, and portfolio ‘optimization and selection’.
Mission: Provide our clients with industry leading Project Portfolio Management strategic consulting and subject expertise services.
PCG will provide advisory, strategic, and tactical execution services. Our consultants work with key stakeholders to address the opportunities and challenges, determine options, influence direction, and design a pragmatic approach. We then execute that approach and drive your organization toward the vision. Through a blend of people, process, and tools, we will help your organization implement transformational capabilities, right sized to your organization.
A key to a successful initiative rests in a mutual commitment to follow best practices in terms of organizational change management including “awareness” (problem to be solved and benefits), “desire” (creating a coalition to support change), “knowledge” (instilling the right level of subject matter understanding), “ability” (moving from the current to desired state), and “reinforcement” (maintaining momentum and continuous improvement).
PCG provides Project Portfolio Management services to help companies create and execute upon those practices. Our service offerings range from assessments and analysis to full program support and implementation. We offer solution-based, deliverable-based, outsourced, and tailored service offerings.
PCG provides Project Portfolio Management services to help companies create and execute upon those practices.
Our service offerings range from assessments and analysis to full program support and implementation. We offer solution-based, deliver-based, outsourced, and tailored service offerings
PCG can provide advisory, strategic, and tactical execution services. Our consultants work with key stakeholders to address the opportunities and challenges, determine options, influence direction, and design a pragmatic approach. We then execute that approach and drive your organization toward the vision. Through a blend of people, process, and tools, we will help your organization implement transformational capabilities, right sized to your organization.
A key to a successful initiative rests in a mutual commitment to follow best practices in terms of organizational change management including “awareness” (problem to be solved and benefits), “desire” (creating a coalition to support change), “knowledge” (instilling the right level of subject matter understanding), “ability” (moving from the current to desired state), and “reinforcement” (maintaining momentum and continuous improvement).
PCG provides Project Portfolio Management services to help companies create and execute upon those practices. Our service offerings range from assessments and analysis to full program support and implementation. We offer solution-based, deliverable-based, outsourced, and tailored service offerings.