With value delivery management, Portfolio Management is more focused on maximizing the value of the portfolio, as opposed to just monitoring or controlling it. Value delivery management:
- Eliminates double counting of benefits.
- Rationalizes 'desired outcomes' across projects.
- Monitors key interdependencies.
- Tracks post-project benefits delivery.
- Analyses the root causes of variances to planned value.
The Portfolio Management Office (PMO) becomes the 'turbo-charger' across the projects — accelerating the delivery of outcomes by streamlining the processes, minimizing delays, and dealing with the macro issues and critical success factors that cross project and program boundaries.
It also extracts the maximum value from the key resources, key skills, and key staff — ensuring their use is well planned, managed, and optimized.
Every aspect of the PMO's role is value-oriented.
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Click here for the 14th article in this the series "Refocusing Projects Onto Business Value, Part 14: Change Management"
Click here for the first article in this the series "Refocusing Projects onto Business Value, Part I: The Need".
Jed Simms is CIO magazine's weekly project management columnist. Simms, founder of projects and benefits delivery research firm Capability Management, is also the developer of specialized project management and project governance Web site www.project-sponsor.com
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