Whether you have a small or large business, you're making investments to develop new products or services to accomplish your goals and objectives. Learning to use the Strategy Scoring Matrix can help you determine where you should allocate your limited resources of time and money while generating the greatest return on your investments.
Overview of the Strategy Scoring Matrix
The Strategy Scoring Matrix is an easy-to-use tool for small or large businesses to score their projects and determine the value of investing limited resources. The process helps to manage those limited resources. The matrix discussed here focuses on six items and can be adapted to fit your business.
Jamal Moustafaev, MBA, PMP – is the President and Founder of ThinkTank Consulting, is an internationally acclaimed expert and speaker in the areas of project/portfolio management, scope definition, process improvement and corporate training. Jamal Moustafaev has done work for private-sector companies and government organizations in Canada, the U.S., Asia, Europe and the Middle East.
Mike Hannan brings nearly 25 years’ experience as a Consulting Executive, IT Project Portfolio and Program Manager, Process Engineer, and Software Architect. His background in Project Portfolio Management started at NASA in the early 1990's supporting large, complex initiatives such as the International Space Station and High-Performance Computing & Communications (HPCC) programs. He has managed and consulted on $500M+ project portfolios, and trained CIOs and other senior executives in Federal Civilian, Military, and Commercial environments.
Mike is an active speaker at industry events, including local PMI chapter and community meetings, webinars, PM symposia, and in the Agile community. He is a leading innovator of disciplined ways to integrate Agile, Lean, Critical Chain, and other techniques to drive dramatic breakthroughs in the performance of IT Project Portfolios. He is also the lead author of the recent book, The CIO’s Guide to Breakthrough Project Portfolio Performance.
Today we have with us Gerry Kendall. Gerry is a recognized world expert at strategic planning, Theory of Constraints (TOC) and project portfolio management, with extensive implementation experience. His clients span the globe, including engagements in Malaysia, Bangladesh, Australia, Europe, the United States and Canada. Gerry is married to his lovely wife, Jackie. They share 5 children and 7 grandchildren.
Gerry's latest book, "Advanced Multi-Project Management," provides the detailed proven road map for getting major improvement in delivering a project portfolio on time, on budget and within scope. His "Advanced Project Portfolio Management and the PMO" is the top-selling book in the PMO and Project Portfolio Management space.
Gerry also authored a chapter on "Project Portfolio Management for the American Management Association Handbook of Project Management, 2nd Edition," and a chapter on Critical Chain in Dr. Harold Kerzner's book, "Project Management, A System's Approach, 8th edition." The new TOC Handbook highlights Gerry's chapter on TOC Strategy and Tactics application.
Project Portfolio Management is one of the key activities that an organization can perform to consistently deliver business value to its stakeholders. According to Gartner, IT spending is on pace to grow by $3.8 trillion globally in 2015, which is a 2.4% increase from 2014. Despite this slow growth outlook, IT organizations can utilize the […]
Great organizational culture accounts for a 20% to 30% performance improve according to Harvard Professor Emeritus James L. Heskett. Leaders must implement the principles of great culture development to create a truly high performing organization. These are the same principles required to implement a world-class portfolio management capability for your chapters. This presentation reveals the […]
All webinars are free and will qualify for 1 Free PDU. Upcoming Webinars ____________________________________________________________________ 01/21/2016 – Creating Real Business Value with PPM 04/21/2016 – Portfolio Optimization Practices That Work and Get Results 07/21/2016 – Designing a Governance Framework 10/20/2016 – How Does PPM and EA fit into your organization? 01/19/2017 – Re-balancing the Project Portfolio 04/20/2017 – Aligning The Portfolio to […]
PMO 360 Health Check Assessment and Roadmap Development Are you challenged with identifying which areas of your PMO to improve first? Are you struggling with identifying the quick-win initiatives that will demonstrate to your leadership team that implementing an Enterprise PMO can create real strategic value, increase project throughput, and deliver project benefits faster? The […]
"IT Portfolio Management Step-by-Step" is a must-have for portfolio management practitioners. The book is grouped into four parts: an overview and background of what’s included in the material, the foundational elements of portfolio management, building a step-by-step plan and implementation guide, and PPM best practices. In the pages of this book, you will find information on the best practice approach for aligning, rationalizing, prioritizing, selecting, optimizing, tracking, monitoring and managing your organization's IT portfolio investments. The book also covers the three primary areas of IT portfolio management which are the development of processes and frameworks, the implications of tools for data collection, costs, risks, benefits, requirement analysis, and business drivers alignment. You will also discover information on corporate investments and a common taxonomy and governance approach for communicating principles, policies, and guidelines to enable a consistent cadence for your portfolio process.
What I learned:
The need for IT Portfolio Management can be understood against the backdrop of the following statistics:
84% of companies do not use a business case for their IT project investments
83% of companies only adjust their budgets once or twice a year
67% of IT organizations are not able to adjust to market trends when needed
57% of companies believe they have a balanced IT budget
The premise of "Advanced Project Portfolio Management and the PMO" is that project management is required for executives to execute their organizational strategy successfully. Without the right methodology, project life cycle timing and strategic value projects are disconnected from the strategic direction of the senior executive team. In this book, Gerald Kendall and Stephen Rollins provide their guidance and insight to implement a PMO that will deliver strategic value to your organization.