The contracting of investment budgets forces company managements to make choices.
Identifying, undertaking and bringing to a conclusion the most suitable initiatives: designing the strategy, studying the tactics, constructing the actions. Capacities and requirements need to be balanced, requiring the strict application of processes, methods of evaluating and comparing possible investments, in order to identify the optimum portfolio. Contribution to the business, risk containment and compliance with the constraints on human and financial resources are essential considerations.
PROJECT PORTFOLIO MANAGEMENT FOR THE IT DEPARTMENT
The IT Department feels acutely the problem of census information and the management of requirements that may be strategic (projects), tactical (evolutions) and operational (services). IT Department managers often cannot have an overall view of requirements, and the relative state and company needs that they satisfy. This gap has repercussions downstream as a situation of entropy: confusion, variations in planning, waste of energies.
However, the ability to carry out a preventive, continuative analysis of the initiatives to be undertaken allows one to respond to real needs and limits the risk that difficulties or unexpected events can spread in an uncontrolled way, jeopardizing the company's plans.
Good management practices and communications initiatives ensure that the expected results are achieved and justify the investments approved.
For years, Beta 80 Group has been assisting its clients to define the company's investment life cycle. Its experience in this field has brought about clear improvements in the following phases:
collection and ranking of needs
evaluation of investment opportunities
production and delivery of the choices made.
PROJECT PORTFOLIO MANAGEMENT - THE BENEFIT OF EXPERIENCE
The solutions we have produced show that intervening in life cycle phases brings some very significant benefits. The choice depends on the organizational model, the field of application and the moment in history which is peculiar to each business:
Demand Management. Collection and ranking of needs and investment opportunities
Portfolio Management. Analysis and selection of investments to be undertaken
Resource Management. Integrated planning of resources
Financial Management. Financial planning and management
Program/Project Management. Planning and controlling implementation of the investments.
Beta 80 Group manages solutions present on the PPM market and carries out well-focused software selections, starting from its own experience and based on the client's technical and economic needs.
The ground needs to be prepared and presuppositions created, so that the PPM tool can reveal its potential. Firstly: defining and communicating the processes to be adopted or improved. Checks are made on the organization's degree of maturity, and the organizational impacts of introducing new methodologies or PPM tools are analyzed. Secondly: choosing whether to keep management practices or start off along the path of cultural evolution.
PROJECT PORTFOLIO MANAGEMENT DESIGN
Defining the high level organizational model on managing the life cycle of investment requirements. The following are defined: how to manage the life cycle of investment requirements; what are the roles in the processes; what are the required macros for the support tools.
PROJECT PORTFOLIO MANAGEMENT COACHING
Adoption of new Project Portfolio Management model: identification of the areas for improvement and evolution of the practices in use. The coaching is aimed at:
Portfolio / Project Management Officer
Program / Project Manager
Functional unit managers
PROJECT PORTFOLIO MANAGEMENT EXECUTION
Execution of Project Portfolio Management process with those responsible in the client's structure, typically the Portfolio / Project Manager and the Program / Project Manager.
PROJECT PORTFOLIO MANAGEMENT IMPLEMENTATION
Selection and implementation of the support system. The detailed design of the processes is completed and the functional requirements to be met are identified.