Every year there is a mad scramble by most companies to secure budgets internally for projects they intend to do for the following financial year. Typically, companies are flooded with requests from various departments to deliver capabilities and benefits through a variety of projects and programs. However, companies are acutely aware that they must balance the long wish list of things to do relative to the organization's actual ability to deliver the services. Given the importance of the projects under consideration and lack of funds to support every idea, it is important to set clear objectives that will drive tangible results over short term and long term planning horizons.
Whether it's due to financial constraints or resources being completely exhausted, sometimes you just have to say "no." Saying "no" is easy, but it's deciding who to say "no" to that is the key determinant of long term success. Projects that bring the highest return on investment from the scarce resources available must be pushed forward. Projects that drain resources and budget must be discarded, or at the very least, put on hold. So how do you decide which projects stay and which ones to delay?
If you don't know the benefits, costs and risks costs of executing your projects then you're probably not maximizing the value of your project portfolio and you may be working on the wrong projects. Most project portfolio managers are not including the actual values and costs of not executing a project in their project portfolio analyses. Hence, they may be dramatically over or under estimating their actual portfolio value and cost and choosing the wrong set of projects.
The CognitiveOps PPM proces is about more than running multiple projects. We understand that each portfolio of projects needs to be assessed in terms of its business value and adherence to strategy. The portfolio should be designed to achieve a defined business objective or benefit.
Contact us today to find out what we can do for you.
We specialize in utilizing Lean, enterprise architecture and project portfolio management
We enable clients to optimize employee productivity and reduce administrative costs
CognitiveOPS, Inc. is a management consulting and investment services company led by Derrick Robinson.
Our goal is to help our clients control process quality, improve operating profitability and make sound investments for growth.