Project management audio blog featuring monthly interviews with the most seasoned and recognized practitioners, thought leaders, project managers, and executives on industry-specific business problems to help C-level executives achieve success.
(Rebroadcast) Many organizations are faced with the reality of balancing their portfolio of projects. Depending on the level of investment of time and money, both projects and their associated stakeholders are continuously competing for face time to meet their own agendas. Interestingly enough, senior project managers have expressed concerns comparing the ROI calculation of new projects versus those later into their lifecycle. In fact, new projects at the beginning of their lifecycle often are projected at the 75%+ ROI in contrast to the more mature projects estimated at a 10%-15% ROI. It’s no wonder that organizations and project managers want to move on from older, mature projects and pursue new ideas. Project portfolio management (PPM) as a discipline and the emergence of PMOs have gained momentum in recent years in project-centric organizations to help prioritize projects and keep them on course.
For industries in which the development of new products is the life line of their organizations, PPM methodology has always been a critical component to their business. This is especially true for organizations in the Consumer Packaged Goods (CPG) industry that may have dozens of products at one time at different stages in their development. Every product is treated as a project, and with the complexity of each product the time and resources invested have challenged organizations in their ability to separate the good from the bad that lies within their portfolio of projects.
In this episode, Wayne Thompson will be talking to industry insider, Hugh Woodward, who has over 35 years of project management experience in manufacturing, construction and IT. Hugh will be sharing with us his war stories and insights of project portfolio management in the consumer packaged goods industry and the challenges of choosing between investments in scheduled or existing projects and new ideas.
Music Notes
1. Interview with industry insiders – "Yearbook” 2. The closing of the episode – “Greasy Wheels”
Although it is true that Project Management Offices (PMOs) need to adapt to the unique needs of the businesses they serve, it is more important that the leaders of PMOs gauge the true function of their existence. In many cases, PMOs get lost in a siloed role delivering their value to solely the group(s) or department(s) they serve without taking into consideration their impact on other overlapping entities that may affect the business as a whole. In this episode we continue our look at the unique character of the role of the PMO in consumer goods companies and how the highly competitive nature of this industry can leverage its value.
Today we are continuing with the second part in a two part series examining how project management offices provide the necessary visibility for success in consumer goods companies. To do this we continue our conversation with Hugh Woodward.
Hugh Woodward is an industry insider, who has over 35 years of project management experience in manufacturing, construction and IT. He served two terms as Chair of the Project Management Institute and almost six years as a member of PMI's Board of Directors. Today Hugh will be sharing with us his insights and experiences of using project management offices in the consumer goods industry.
Many thanks to everyone who participated in the first drawing to win a netbook. Due to its success, we are pleased to announce that we will be giving away more netbooks between January and June of 2010. To register for your chance, please go to our website, www.pmwarstories.com and click on the hyperlink for the Netbook Contest displayed in the sidebar. Members are limited to one entry per month so don’t forget to visit our site and complete an entry form today. Good luck and thank you for listening.
If you would like to learn more about PMOs, project offices, Oracle Primavera, or managing projects in a manufacturing environment, then check out our monthly internet radio show available at www.pmwarstories.com or through apple itunes.
Music Notes
1. The opening of the show – “Investigation” 2. Interview with the industry insider – “Kickflip” 3. The closing of the show – “Yearbook”
Project Management Offices (PMOs) have been traditionally viewed as a horizontal discipline that can be applied to any project-centric organization. Although the basic principles a PMO can deliver are universal, each and every PMO needs to look at the unique requirements and challenges of the vertical industry they are serving in order to fully deliver the value of its role to an organization. In this episode we look at the unique character of the projects implemented by consumer goods companies and how the highly competitive nature of this industry views the role of a project management office.
We are pleased to announce that this is the first podcast in a series on project management offices, sponsored by Oracle Primavera. Today we are examining how project management offices provide the necessary visibility for success in consumer goods companies. To do this I’m sitting down with my friend and colleague, Hugh Woodward, in a two part interview.
Hugh Woodward is an industry insider, who has over 35 years of project management experience in manufacturing, construction and IT. He served two terms as Chair of the Project Management Institute and almost six years as a member of PMI's Board of Directors. Today Hugh will be sharing with us his insights and experiences of using project management offices in the consumer goods industry.
Additionally, I am pleased to announce that we are giving away a netbook to one lucky member of our community. To register for your chance, please go to our website, www.pmwarstories.com and click on the hyperlink for the Netbook Contest displayed in the sidebar. Members can only enter once per drawing and entries must be received by 11pm eastern standard time on Thursday, December 17, 2009.
If you would like to learn more about PMOs, project offices, Oracle Primavera, or managing projects in a manufacturing environment, then check out our monthly internet radio show available at www.pmwarstories.com or through apple itunes.
Music Notes 1. The opening of the episode – “Two Seater” 2. Interview with industry insiders – “East Ender” 3. The closing of the episode – “Electric Rodeo"
Capital projects provide some of the best examples of some of the most complex stakeholder relationships and portfolios that project managers can face. The sheer magnitude of capital projects pushes the envelope in adhering to the ultimate delivery goal of every project manager – on time, within budget and within specification. At the core of these projects are the multitudes of stakeholders that need to be managed. Whether it be those who manage the purse strings funding the project or the policy makers that can change the course of the plan on a moment's notice; stakeholder management requires that all involved parties are kept in the loop every step of the way. Documenting progress and continuous communication of project status are key elements in facilitating that these projects move forward and obtain the necessary approvals to meet projected timelines. Additionally, planning for change due to funding issues or a shift in priorities require project professionals to have the necessary tools and methodologies in place to quickly adapt and prevent the potential derailing of the project’s successful outcome.
For the Delaware Department of Transportation (DOT), it, like many state agencies, was facing a budget shortfall due to the economic downturn and was re-evaluating the priorities of capital projects in the state to determine which projects would be shelved and/or canceled. This planning was interrupted and complicated when the US federal government passed its economic stimulus plan for "shovel ready" projects. Unfortunately for the Delaware DOT and other state agencies, they simply could not allocate the federal dollars towards existing projects and narrow their budget gaps. The new federal funds came with a host of conditions, and the Delaware DOT had to sort them out before it could understand the true implications that the economic stimulus plan would have on its scheduling of capital projects.
In this episode, industry insiders, Bob Perrine and Connie Post of the Delaware DOT, will share their insights and experiences in overcoming the challenges and complexities of managing a portfolio of capital projects.
Bob Perrine is a civil engineer with 30 years of experience in the construction industry. He has worked in federal government, private industry, and state government. Currently, Bob is the Constructability Review Engineer / Master Scheduler for the Delaware DOT.
Connie Post, my other distinguished guest, has over 28 years of experience in Information Technology, and 18 years of experience in Project Management. She is currently an independent consultant with the Delaware DOT and her responsibilities include project management, requirements analysis and implementation of new systems, systems integration, and business process review.
Today, Bob and Connie will discuss the difficult task of managing and scheduling resources for large, complex projects in the face of limited funds and competing stakeholders.
Project Portfolio Management (PPM) is as much about prioritizing project deliverables as it is about communicating priorities to the stakeholders involved. Carefully conveying the appropriate messages to all parties will ultimately determine the successful results of a PPM methodology put in place. Visibility to stakeholders in a consistent manner coupled with a standard approach to delivering the details of project performance and business cases to launch new projects ensure better results in stakeholder buy-in.
There is no better example than Hollywood when it comes to conveying a consistent message to its audience (i.e. its stakeholders). In this vein, this episode will examine how visibility delivered in a consistent manner can sustain the success to both a portfolio of projects and/or a single project to its stakeholders - regardless of their celebrity status .
Our show is divided into 2 segments.
In Part 1, we will be talking to industry insider, Kris Reynolds, who has over 10 years of project management experience and has led numerous projects in healthcare and software application development. He is the Director of the Program Management Office at Macrovision, formerly TV Guide, and currently serves as president of the Project Management Institute PMO Local Interest Group of Tulsa, Oklahoma. Tonight Kris discusses how a solid project portfolio management strategy has enabled his PMO to sustain its success.
If you would like more information about Macromedia’s PMO, creating and maintaining a program management office, or about project portfolio management software, then check out Episode 26, Episode 25, Episode 24, and Episode 20.
In Part 2, Willie Mayket, our in-house project management specialist, sounds off in “Painfully Honest with Willie Mayket”. This episode’s target is the Hollywood sign and its evolution to stardom.
Project Management practitioners understand that running a Project Management Office (PMO) means different groups within a company will compete for their projects to take priority. As in any group dynamic, individuals are continuously assessing how they can better position themselves for success. It’s the PMO’s role to step in to accurately assess the business benefits of all projects and prioritize them in relation to the greater good of the company as a whole. More importantly, strategic alignment to corporate objectives is key to understanding where sponsored projects fit within the company’s portfolio – the wrong priority can mean the difference between order and chaos. It’s for this very reason PMOs exist to objectively define the business benefits of all the proposed projects at arms length from the business units in which they emerged. In many cases, business units propose projects to eliminate subjective risk. It’s the PMO’s role to assess the proposed risk and implement an objective risk management strategy that can in the end avoid unnecessary costs associated to projects “deemed” necessary.
In this episode, we will examine how project management offices can use project portfolio management tools to define benefits and build business cases to determine which projects to pursue. To do this, we sit down with industry insider, Beth Partleton, who has more than 30 years of project and portfolio management experience in manufacturing and construction. During her illustrious project management career, she was the Director of Strategic Projects for Miller Brewing Company in Milwaukee, Wisconsin; she was a founder, charter member, and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational Foundation Board of Directors and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around setting project priorities by properly defining project benefits and building the business case justification.
Hope you enjoy the episode. Thanks again to our community for sharing their war stories.
Music Notes
1. The opening of the episode – “Catwalk” 2. Interview with Beth Partleton – “Kickflip” 3. The closing of the episode – “Yearbook”
Creating a Project Management Office (PMO) requires a large commitment on the part of an organization in centralizing and streamlining its project activities. Often the creation of the PMO overshadows the actual maintenance and success of its function. In fact, 25% of PMOs typically fail in the third year of their existence. Given this reality, its important for organizations to design a PMO that is built to last. Meaning, PMOs require to have the right infrastructure and buy-in in order to succeed. Implementing a Project Portfolio Management (PPM) methodology that accurately aligns an organizations corporate objectives with its active projects is what keeps the PMO machine going. Without the fuel driven by sound PPM best practices a PMO's chances of success hang in the balance.
In this episode, we will examine how to create a project management office and more importantly, how to successfully maintain it through an effective project portfolio management (PPM) strategy. To do this, we will look at PMOs in a service organization and a manufacturing company.
Our show is divided into 2 segments.
In Part 1, we will be talking to industry insider, Kris Reynolds, who has over 10 years of project management experience and has led numerous projects in healthcare and software application development. He is the Director of the Program Management Office at Macrovision, formerly TV Guide. His PMO was named one of the Top 20 Outstanding project management organizations in the October 2007 edition of PM Network magazine. Kris is a frequent author and lecturer on project portfolio management, PMOs, and project management, and currently serves as president of the Project Management Institute (PMI) PMO Local Interest Groupof Tulsa, Oklahoma. Tonight Kris discusses how his organization created a PMO to develop and indoctrinate a consistent project management methodology and project management discipline.
In part 2, I sit down with industry insider, Beth Partleton who has more than 30 years of project and portfolio management experience in manufacturing and construction. During her illustrious project management career, she was the Director of Strategic Projects for Miller Brewing Company in Milwaukee, Wisconsin; she was a founder, charter member, and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational FoundationBoard of Directors and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around the importance of PPM to maintain a successfully operating PMO.
Music Notes
1. The opening of the episode – “Greasy Wheels” 2. Interview with Kris Reynolds – “Half Moon Bay” 3. Interview with Beth Partleton – “Glide” 4. The closing of the episode – “Electric Rodeo”
Often Project Management Offices (PMOs) are setup in response to an increasing volume of projects that are in desperate need to be managed, prioritized and tracked so that they deliver on the expectations of the corporations they serve. Whether these projects drive the organizations operations or are core to the services delivered to customers, aligning their outcome with corporate goals is key to their success in the eyes of both internal and external stakeholder at hand.
With this in mind, Project Portfolio Management (PPM) as a discipline is the governance framework of choice most PMOs embrace in order to efficiently and effectively manage the limited resources and long list of tasks on multiple projects residing at any given time within an organization. This careful balancing act between resources and projects PMOs seek to achieve, requires the necessary visibility PPM can provide so that prject leaders can strateigcally align their success with corporate goals.
In this episode, we examine how project portfolio management provides the necessary visibility into projects that impact an organization’s success by examining a manufacturing company and a media company.
Our show is divided into 2 segments.
In Part 1, we will be talking to industry insider, Beth Partleton, who has more than 30 years of project and portfolio management experience in manufacturing and construction. Beth recently retired from Miller Brewing Company in Milwaukee, Wisconsin, where she worked as the Director of Strategic Projects and was responsible for creating Miller’s project management office and for developing a better link between portfolio management and Miller’s corporate strategy. During her illustrious project management career, she was a founder, charter member and president of the Milwaukee/Southeast Wisconsin PMI Chapter; she was Chair of the PMI Educational Foundation Board of Directors, and lastly she served on the Board of Directors for PMI’s Manufacturing specific interest group. Today she will be sharing her insights and war stories around managing project priorities in a manufacturing environment.
In part 2, the Technology Corner, I sit down with Kris Reynolds, Director of the Program Management Office (PMO) at Macrovision, formerly TV Guide. Kris has over 10 years of project management experience and has led numerous projects in healthcare and software application development. His PMO was named one of the Top 20 Outstanding project management organizations in the October 2007 edition of PM Network magazine. Kris is a frequent author and lecturer on project portfolio management, PMOs, and project management, and currently serves as president of the Project Management Institute (PMI) PMO Local Interest Group of Tulsa, Oklahoma. Tonight he discusses how his organization improved resource management, capacity planning and moved away from putting out fires to managing projects, all by switching from a system of spreadsheets, word documents and the ad hoc standard of the day to Daptiv PPM.
Special Announcement: Based on feedback from our audience, PM War Stories is partnering with the PMI Montreal Chapter to create and distribute the Product Development and Design Industry Report
The industry report will provide project managers, engineers, and executives insight into the technology and tools to develop, manage, design, and produce products from idea generation to commercialization. Examining key software vendors in project portfolio management, new product development and product life cycle management, the report will provide in-depth analysis of the state of the market.
Additionally, it will feature thought leadership, best practices and customer success stories in key verticals, such as aerospace, automotive, construction, consumer goods, electronics, industrials, life sciences, process manufacturing, financial services, publishing, and many others, to help project managers, engineers, and executives succeed.
Anyone interested in receiving a free copy of the report, which will be published in December, should complete the registration form today.
Many thanks to our audience, please keep the war stories and suggestions coming.
Music Notes
1. The opening of the episode - Torn Jeans 2. Interview with industry insider - East Ender 3. Technology Corner - Highlight Reel 4. The closing of the episode - Electric Rodeo
Setting the priorities of a portfolio of projects presents a daunting task for project managers and PMO leaders. When developing priorities, project managers are constantly battling the influences of internal and external stakeholders that can negatively impact one's decision making process. As a result, effectively managing and setting project priorities requires the ability to objectively measure the true value of the projects in relation to an organizations goals.
In this epsiode we will be talking to industry insider, Alison Mills Long who has over 18 years of project management experience with the last 7 years on the business side bringing up a PMO from scratch at a large credit card company. Alison will be sharing her insights and war stories regarding how to prioritize a portfolio of projects.
Music Notes 1. The opening of the episode – “Risk” by humanize 2. The closing of the episode – “Priority 1” by Bruce Johnson
Many organizations are faced with the reality of balancing their portfolio of projects. Depending on the level of investment of time and money, both projects and their associated stakeholders are continuously competing for face time to meet their own agendas. Interestingly enough, senior project managers have expressed concerns comparing the ROI calculation of new projects versus those later into their lifecycle. In fact, new projects at the beginning of their cycle are calculated at the 75%+ ROI in contrast to the more mature projects estimated at a 10%-15% ROI. It’s no wonder that project portfolio management as a discipline and the emergence of PMOs have gained momentum in recent years in project-centric organizations.
For industries in which the development of new products is the life line of their organizations, PPM methodology has always been a critical component to their business. This is especially true for organizations in Consumer Packaged Goods industry that may have dozens of products at one time at different stages in their development. Every product is treated as a project, and with the complexity of each product the time and resources invested have challenged organizations in their ability to separate the good from the bad that lies within their portfolio of projects.
In this episode, we look at new product development in the CPG industry and we will feature a new segment entitled “Technology Corner.” Based on emails from listeners Technology Corner will feature IT project case studies and provide insights to their successful delivery. Initially the Technology Corner will make periodic appearances in our monthly shows. If it is well received, we will add it as a regular installment.
Our show is divided into 3 segments:
In part 1, we will go Roaming with the Salty Dogg and explore whether new really is better by exploring a case study in new product development.
In part 2, we will be talking to industry insider, Hugh Woodward, who has over 35 years of project management experience in manufacturing, construction and IT. Hugh will be sharing with us his war stories and insights of project portfolio management in the consumer packaged goods industry and the challenges of choosing between investments in scheduled or existing projects and new ideas.
In part 3, we will talk with Randy Banks in our first installment of the Technology Corner. Randy is a Chartered Accountant and a Certified Project Management Professional with over 20 years of business experience. Today Randy will be sharing his experiences in rescuing an Enterprise Resource Planning systems or ERP project.
We hope you enjoy the show and encourage you to send your questions, issues, and war stories.
