MOP Portfolio Management Overview Paradigm Consulting Group PCGI

Management of Portfolios(MoP®)

An Overview of Cabinet Office’sBest Practice Methodology in

Project Management

Paradigm Consulting Group (PCGI)

Best Practice Presentation – Oct 20, 2014Presenter: Carolyn Smith

Internet: http://pcgi.mb.ca/ Twitter: https://twitter.com/PCGI

LinkedIn: http://www.linkedin.com/company/pcgi-consulting-services 2

Agenda

• Management of Portfolios(MoP®): An Overview of Cabinet Office’s Best Practice Methodology

– MoP® Definitions

– MoP® Objectives of Portfolio Management

– MoP® Portfolio Management Model

– MoP® Benefits

– MoP® Implementation

• Our Presenter– Carolyn Smith

• Paradigm Consulting Group (PCGI)– About Us

– Accredited Consulting Organization (ACO)

– Best Practice Overview

– Cabinet Office Experience

– Organizational Reference

– Training Opportunities

– Contact Us & Questions

• Copyrights and Trademarks

http://pcgi.mb.ca/

https://twitter.com/PCGI

http://www.linkedin.com/company/pcgi-consulting-services



Management of Portfolios – Definitions

• Portfolio:

– The totality of an organization’s investment (or segment thereof) in the changes required to achieve its strategic objectives.

• Portfolio management:

– Portfolio management is a co-ordinated collection of strategic processes and decisions that together enable the most effective balance of organizational change and Business As Usual.

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Portfolio Management vs. Project/Programme Management

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Doing the

right things….

... the right way

D o i n g T h i n g s R i g h t

Do

ing

Th

e R

igh

t T

hin

gs

R e a l i z e d Va l u e

U n r e a l i z e d

Va l u eImproving

Portfolio

Management

Improving

Project

Management

100%0%

100%

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Objectives of Portfolio Management

To ensure that:

• Change initiatives being delivered and planned represent optimum allocation of organizational resources

• Portfolio is sufficient to achieve desired contribution to strategic objectives

• All initiatives are necessary to achieve desired contribution to strategic objectives

• Selected initiatives are delivered effectively and cost efficiently

• All the potential benefits are realized

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“Run the business, change the business”

Strategic objectives

Managed benefits

Managed programmes and projects

Change the business

Portfolio management

Run the business

Business as usual

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Portfolio Management Model

5 Principles

2 Cycles

12 Practices

Guidance (not Manual)

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Energized Change Culture

• .... the extent to which an organization has mobilized the full available effort of its people in pursuit of its goals

• Drives the definition and delivery cycles

• Requires

– Senior management commitment

– Effective employee engagement

– Effective governance at right level of bureaucracy

– Focus on overall good and success of organization

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Benefits of Portfolio Management (1-4)

1. More of the “right” programmes and projects being undertaken

2. Removal of redundant, duplicate and poorly performing programmes and projects

3. More effective implementation of programmes and projects via consistent approaches and improved dependency management

4. More efficient resource utilization

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Benefits of Portfolio Management(5-8)

5. Better management of risk at a collective level

6. Greater benefits realization and return on investment

7. Enhanced transparency, accountability and corporate governance

8. Improved engagement and communication between senior management and staff

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MOP® Implementation

• 3 Broad Approaches to Implementation

– Big Bang –• Viewed as Change programme, business case, blueprint for future, etc as per

MSP.

• Appropriate where top-down strategy formulation is applied, environment is stable and PPM is relatively mature

– Evolutionary• Start with areas of greatest need, or where rapid progress can be made, and

evolve approach from there

• Appropriate in less stable environments and where strategy is itself emergent

– Ad Hoc• No detailed master plan, and no expectation there will be one.

Implementation is more opportunistic

• Appropriate were practices are less mature and senior commitment less embedded

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Staged Implementation:7 Steps and Resulting Benefits

1. Obtain single complete view of organization’s portfolio of change initiatives– Removes duplicates, non-strategically aligned, and poorly performing projects

which • Saves money

• Improves overall delivery

2. Complete portfolio delivery plan and monitor/report regularly on progress

– Highlights gaps, stimulates questions and debate

3. Track completed programme and project performance to forecast and use in initiative forecasting

– Improves business case forecasting, investment appraisal and prioritization

– Creates expectation of disciplined, end to end approach to change management, including better business cases

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Staged Implementation:7 Steps and Resulting Benefits

4. Identify inter-initiative dependencies and resource conflicts– Improves portfolio understanding and earlier resolution of potential problems

5. Establish clear governance structures which state where and how decisions are made

– Ensures decision-makers receive information required to manage portfolio

6. Define investment criteria and use to appraise and prioritize initiatives on both attractiveness and achievability

– Ensures limited resources allocated with maximum impact

7. Apply stage release of funding linked to stage and phase gates

– Investment of resources linked to confidence in successful delivery

– Programmes and projects initiated in controlled manner

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LinkedIn: http://www.linkedin.com/company/pcgi-consulting-services

Our Presenter

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Carolyn Smith

• Carolyn is a certified Project Management Professional and Prince2 Registered Practitioner with 14 years experience in information technology and business process development, and 10 years experience in management and supervisory roles, involving the redesign of processes and systems in related areas. Her areas of expertise include project management, methodology development, business analysis, training, project portfolio management and IT Governance.

• Can be reached at:

– Email: [email protected]

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Paradigm Consulting Group (PCGI) About Us

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• Within the Paradigm Consulting Group (PCGI) offices in Regina and Winnipeg, we employ over 110 staff.

• We offer our customers a wide range of IT and business consulting services.

• Our experience spans customers within several industries, with particular expertise in Healthcare, Insurance, and the Public Sector.

Winnipegwww.pcgi.mb.ca

Reginawww.paradigm.sk.ca

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Paradigm Consulting Group (PCGI) Accredited Consulting Organization

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• We have been awarded the Accredited Consulting Organization (ACO) designation in Project, Programme and Portfolio Management!

– Only the second organization in North America.

• To achieve this designation, ACOs have:– Undergone rigorous assessments by a large international

organization– Proven their knowledge, experience and communication skills– Achieved high examination scores and passed multiple product

knowledge interviews– Undergone multiple client references

• Which means….– ACOs offer superior standards of consulting services– The robust accreditation process provides assurance that their

advice is valid and trustworthy!

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Paradigm Consulting Group (PCGI)–Accredited Consulting Organization

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• How can this benefit you?

– ACOs have exclusive access to assess organizations using the P3M3 Assessment Tool for:

• Portfolio, Programme & Project Management Maturity Model (P3M3 ®)

• PRINCE2® Maturity Model

– An assessment will benchmark your programme, project and risk management processes and will get you on the right course to ensure the full value of the project is achieved AND sustained.

– An assessment is invaluable whether you are:• in the early planning stages of a new initiative, or

• struggling in the latter stages of an implementation

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Paradigm Consulting Group (PCGI) Best Practices

• Paradigm’s Best Practices provide:– an opportunity for our consultants to share experience and

insight.

– strengthening the Paradigm culture and promoting personal and professional growth.

• Best Practices meetings occur weekly and offer an opportunity to connect with team members and clients from other work sites.

• Sharing knowledge and training opportunities within our diverse team helps strengthen Paradigm employees and benefits our clients.

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http://pcgi.mb.ca/





Paradigm Consulting Group (PCGI) Cabinet Office Experience

• We have consultants with the following Cabinet Office certifications.

– PRINCE2® (Project Management)

– MSP® (Programme Management)

– MOP® (Portfolio Management)

– P3O® (Project, Programme, and Portfolio Offices)

– M_o_R® (Risk Management)

• We value and encourage continuing learning and certifications, we can proudly state that we have most PRINCE2® practitioners than any other organization in Canada!

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Paradigm Consulting Group (PCGI) Organizational Reference

The Paradigm Consulting Group’s depth of consulting expertise in the area of Project, Programme and Portfolio Management Best

Practices is the strongest in Canada.

Their Accredited Consulting Organization designation and over 90 certifications among their consulting staff demonstrates this

expertise.

With their depth of experience in PRINCE2, Managing Successful Programs and Management of Portfolios with numerous clients in

Western Canada, Paradigm is a proven and respected leader in this rapidly expanding field.

David Smyth

Marketing Manager, Canada

APMG International

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Paradigm Consulting Group (PCGI) Cabinet Office Training Opportunities

• Paradigm partners with an accredited training organization (Advantage Learning) to offer accredited training in PRINCE2®, MSP®, P3O®, M_o_R®and MOP®, as well as Agile Project Management.

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• Our trainers have years of real life project and programme management experience.

• We offer a small class format to verify participants understanding of the content and progress prior to the course exams.

• All courses are independent of each other and there are no prerequisites for any class.

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http://www.paradigm.sk.ca/TRAINING/PRINCE2.aspx

http://www.paradigm.sk.ca/TRAINING/MSP.aspx

http://www.paradigm.sk.ca/TRAINING/P3O.aspx

http://www.paradigm.sk.ca/TRAINING/M_o_R.aspx

http://www.paradigm.sk.ca/TRAINING/MoP.aspx

http://www.paradigm.sk.ca/TRAINING/AgileProjectManagement.aspx



Paradigm Consulting Group (PCGI) Cabinet Office Training

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Contact us at [email protected] for training dates and course information or to register for any of our courses:

– PRINCE2®

– MSP®

– P3O®

– M_o_R®

– MOP®

– Agile Project Management

http://pcgi.mb.ca/



mailto:[email protected]



Paradigm Consulting Group (PCGI) Contact Us

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To learn more about us:

• Winnipeg:– Internet: http://pcgi.mb.ca/

– LinkedIn: http://www.linkedin.com/company/pcgi-consulting-services

– Twitter: https://twitter.com/PCGI

• Regina:– Internet: http://paradigm.sk.ca/

– LinkedIn: http://www.linkedin.com/company/paradigm-consulting-group

http://pcgi.mb.ca/



http://pcgi.mb.ca/



http://paradigm.sk.ca/

http://www.linkedin.com/company/paradigm-consulting-group



Paradigm Consulting Group (PCGI) Questions?

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If you have any questions about howPCGI can assist your organization, please contact:

Ken Howell, Registered ACO Consultant, PRINCE2\MOP\P3O Practitioner certified, PMP

Executive Partner

Paradigm Consulting Group (PCGI)

[email protected] or [email protected]

204-999-8555

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Copyrights and Trademarks

All diagrams produced by Cabinet Office and Office of Government Commerce.

PRINCE2®, M_o_R®, MSP®, P3O®, MSP®, MoV® and MoP® are registered trademarks of AXELOS Limited.

All AXELOS Limited product training courses are offered by Advantage Learning UK, an ATO of AXELOS Limited.

Copyright © 2014 All rights reserved.

Reproduction or reuse of this material is strictly prohibited without prior written approval and consent of the Paradigm Consulting Group (PCGI).

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Leadership & Management

MOP Portfolio Management Overview Paradigm Consulting Group PCGI