Comments
A Practical Approach To Project Portfolio Management, Part 1
Newest First  |  Oldest First  |  Threaded View
fdeluca
50%
50%
fdeluca,
User Rank: Apprentice
12/17/2013 | 7:46:02 PM
Re: Garbage In, Garbage Out?
Having a budget plan at the beginning of the year is important, but budget does not necessarily equate to priority, or even that a project will be started. Business conditions, competitive pressures and even regulatory changes must be considered as your project portfolio matures throughout the year.
shamika
50%
50%
shamika,
User Rank: Ninja
12/16/2013 | 1:46:32 AM
Re: Garbage In, Garbage Out?
@ Henschen your comment makes more sense.  In our case at the beginning of the year the budget will be prepared as per the identified project list. When it comes to the ROI, I believe it has to be a collective effort on both IT and business teams.
shamika
50%
50%
shamika,
User Rank: Ninja
12/16/2013 | 1:42:10 AM
Re: Garbage In, Garbage Out?
Once the project list is received at the IT department it will directly move to the head of the project team and will be divided among the project managers depending on their capabilities. As you have mentioned, the head of the project team works as the PMO who facilitate all the project managers.
shamika
50%
50%
shamika,
User Rank: Ninja
12/16/2013 | 1:38:26 AM
Re: Garbage In, Garbage Out?
This is an interesting article which is very relevant for what is do at present.  The list of projects that has to be completed in a given year will be identified by the business users, and they are prioritize depending on the current business strategies.
fdeluca
50%
50%
fdeluca,
User Rank: Apprentice
12/10/2013 | 12:53:43 PM
Re: Garbage In, Garbage Out?
Thanks for the comment.  I agree that reliable data is important.  The article does not go into that level of detail, but I have had higher success when my IT team engaged with the business leaders and helped to "package" the initiatives with true costs and benefits.  I've also partnered with Finance to make sure that ROI is documented and committed to by the business leaders.  That helps to take "gaming the system" out of the equation.
D. Henschen
50%
50%
D. Henschen,
User Rank: Author
12/10/2013 | 11:28:21 AM
Garbage In, Garbage Out?
I'd be curious to know where those "cost" and "payback" (ROI) stats are coming from. These are two key stats that would presumably determine project priority, but if IT is relying on the requesting business units to supply this data, I'd expect them to learn to game the system by offering highly optimistic payback figures. Whether the decisions are made manually or aided by software that automatically determines product priorities, the key is having reliable data. I hope part II gets into that aspect of "poor man's" PPM.


The Business of Going Digital
The Business of Going Digital
Digital business isn't about changing code; it's about changing what legacy sales, distribution, customer service, and product groups do in the new digital age. It's about bringing big data analytics, mobile, social, marketing automation, cloud computing, and the app economy together to launch new products and services. We're seeing new titles in this digital revolution, new responsibilities, new business models, and major shifts in technology spending.
Register for InformationWeek Newsletters
White Papers
Current Issue
InformationWeek - September 2, 2014
Avoiding audits and vendor fines isn't enough. Take control of licensing to exact deeper software discounts and match purchasing to actual employee needs.
Flash Poll
Video
Slideshows
Twitter Feed
InformationWeek Radio
Archived InformationWeek Radio
Howard Marks talks about steps to take in choosing the right cloud storage solutions for your IT problems
Sponsored Live Streaming Video
Everything You've Been Told About Mobility Is Wrong
Attend this video symposium with Sean Wisdom, Global Director of Mobility Solutions, and learn about how you can harness powerful new products to mobilize your business potential.