Portfolio and ProgrammeManagement Demystified

Managing multiple projects successfully

PAUL RAYNER AND GEOFF REISSWith a special contribution from Donnie MacNicol

RoutledgeTaylor &. Francis Group

LONDON AND NEW YORK

Contents

List of figures, tables, boxes and case studies viiiAcknowledgements and dedication xiiforeword xiii

1 Let's get these words straight 11.1 Introduction 11.2 What are portfolio management, programme

management and project management? 41.3 Programme management 51.4 Portfolio management 71.5 Distinguishing programmes, projects and portfolios 101.6 Definitions of programme management 251.7 Types of projects } 311.8 Benefits • 361.9 Summary and reflection 41

2 Doing the right programmes and projects 422.1 Top-down or bottom-up? , 422.2 Top-down 432.3 Bottom-up 492.4 Both top-down and bottom-up 542.5 Anarchy 542.6 Benefits management 542.7 Portfolio management 652.8 Summary and reflection j&7

3 Doing programmes and projects right ' 893.1 Introduction 893.2 What kinds of organisations manage a portfolio of projects? 923.3 A multi-project organisation 943.4 Multi-project planning and control 993.5 Financial control 1123.6 Earned value analysis 1233.7 Progress monitoring, feedback and the timesheet angle 1263.8 Dealing with uncertain projects 134

vi Contents

3.9 Managing multiple resources across multiple projects 1363.10 Managing the matrix 1393.11 Project management tools in the programme

management environment 1473.12 Consistency 1513.13 Programme risk management 1583.14 Management of scope and change 1613.15 Summary and reflection 167

4 Governance 1684.1 Introduction 1684.2 What is governance? 1694.3 Why is governance important? 1704.4 Governance roles 1744.5 How is governance different from management? 1754.6 A question of balance 1764.7 Summary and reflection 184

5 Methodologies and methods 1855.1 Project Management Body of Knowledge (PMBoK) 1875.2 Projects IN a Controlled Environment (Prince2) 1905.3 Managing Successful Programmes (MSP) 1965.4 The Standard for Program Management 2015.5 Portfolio, Programme and Project Offices (P3O) 2055.6 Management of portfolios 2085.7 The Standard for Portfolio Management 2125.8 The APM Body of Knowledge 2125.9 Are methods essential? " 2125.10 Portfolio and programme approval documentation 2155.11 Roles and responsibilities 2215.12 Responsibility assignment matrix 2305.13 How to fail as a programme sponsor or SRO 2335.14 Summary and reflection 239

6 Programme, portfolio and project offices 241)6.1 Introduction , " 2406.2 Definition of PMO 2426.3 Why implement a PMO 2436.4 The PMO role 2466.5 PMO size matters 2526.6 PMO maturity 2566.7 PMO success 2586.8 Conclusions 2616.9 Summary and reflection 264

Contents vii

7 People matter 2657.1 Leadership 2667.2 Leadership development 2697.3 The challenges faced by programme managers 2727.4 Leading programmes and portfolios 2807.5 Other elements of leadership 2817.6 Stakeholder engagement 2867.7 Developing programme management capability 2967.8 Summary and reflection 311

Notes 312Further reading 316Index 319