Effective project portfolio management (PPM) practices are crucial to survival for organisations faced with an uncertain economic and political climate. South African strategy executive, Leabetswe Bomvana looks at three common mistakes many businesses make when it comes to the execution of strategy, making her recommendations on how to overcome these.
Despite the best efforts of many project management offices (PMOs), most are still struggling to get benefits management and delivery – a crucial part of ensuring that the business sees a return on its investment – successfully in place. Benefits management remains an elusive goal for many PMOs.
Martin Parlett, Head of the PMO for the government of Montserrat, a Caribbean island, recently shared his ‘Lessons in Focus’ for project management offices (PMOs), highlighting that, wherever they may be based, and whatever they may be trying to achieve, the challenges for PMOs across the globe are common.
The world of the project management office (PMO) has changed dramatically, shifting away from the PMO having an administrative or support role only towards adding real business value. This evolution has been similarly reflected in the career opportunities available within the PMO space.
With the growth and change in different work management practices such as a more agile approach to delivery, lean management and even hybrid or flexible working models, locations, and hours, the definition of what is or not a project is something that our clients ask us all the time.
Up until 2019, PPO approached project portfolio management (PPM) software implementations in a typically waterfall approach. We would spend full days with our clients meticulously taking down requirements and then carefully crafting the best solution to meet those requirements – and it worked well – so why did we change our ways? Well, let’s think of the typical issues PPM software implementations face using a waterfall approach.
Unexpected project delays have always been a source of concern for project environments. There are lots of reasons for these delays, ineffective project planning and scheduling, late procurement of materials, poor design, design changes and the list goes on. But the one cause that is understated and within the project management office’s (PMO) mandate to address, is the delay in approving project and product deliverables. I’m sure you can recall more than one occasion where a key deliverable wasn’t approved on time.
It is good practice for organisations to regularly think strategically about where they want to be, what they want the organisation to look like, and how they need to go about getting there. Traditionally, this process happened on an annual basis and was largely integrated with the annual financial planning process.
Around the world, healthcare is a business vertical like any other. Hospitals exist and operate within the healthcare arena with the ethical purpose of providing the best possible healthcare to the patients, while at the same time being able to generate profits in order to pay salaries, satisfy shareholders, and continue with the maintenance and improvement of standards and medical procedures.