score & prioritize your project portfolio with ease
TRANSCRIPT
Score & Prioritize Your Project Portfolio with Ease
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Agenda
Housekeeping
Importance of Scoring & Prioritization
Scoring & Prioritization Models
Scoring in Practice
Steps To Getting Started With Scoring
Tips & Best Practices
Live Q&A Session
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Housekeeping Items
40 minutes of presentation
15 minutes of Q&A
All lines are on mute
Enter questions into chat box
Event is being recorded
Slides will be shared post
presentation
3
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Your Presenters
Tushar Patel SVP of Marketing, InnotasNational Semiconductor, Mocana
Kristyn Medeiros, PMP, ITILSenior Manager, Innotas Johnson & Johnson, Sandia National
Laboratories
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Quick SurveyHow does your organization align
& prioritize projects?
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Quick Survey
No Formal Methodology
17%
High, Medium, Low21%
Scor-ing
based on Business Ob-jec-
tives51%
Other11%
How does your organization align & prioritize projects?
Source: Innotas Survey, April 2016
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Defining Scoring
Scoring is a structured, repeatable process for evaluating projects with the goal of prioritizing your investments and focusing your resources on the work that will make the largest business impact.
Scoring should take place periodically and organizations must maintain a continuous process to ensure priorities accurately reflect current business needs.
“IT investments need more than ROI to justify them. Firms need broader measures, support processes and governance tools.” – Gartner
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Why is Scoring & Prioritization Important?
Current Reality: Most organizations are
resource constrained and cannot / should not take on all
the work that is proposed
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Why Scoring & Prioritization is Important?
The Problem: Demand is increasing. We are being asked to do more with current or
less resources
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Why Scoring & Prioritization is Important?
The Result: Set yourself up for failure. Risk your reputation and stakeholder’s perception
of the PMO.
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When is Scoring Relevant? (Hint: All the Time!)
Portfolio Planning Processo Key initiativeso Which strategic projects will make it into the portfolio for that year
Ad Hoc Project Requestso Thinking critically about how ad hoc project requests impact the
organizationo Ensure you’re taking on the right work
Resource Managemento Capacity and Demando What-If Scenario Planningo Resource Optimization
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Scoring & Prioritization Models
Resource Optimized Value
Maximization
Maximizing value of enterprise
project portfolio based on resource
constraints
“Right” Projects based on
Business Needs at the “Right” Time
Weighted Average:
Value / Business Objectives
Prioritize highest value projects.
Ignores resource constraints.
“Right” Projects based on
Business Needs
Range:High, Med, Low
1 to 10
Course prioritization “buckets” or groups
High Level Agreement on
What’s Important. Subjective.
No Scoring
No prioritization. Take on everything.
“First In, First Out”
Business Value & Impact
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Scoring in Practice
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5 Steps To Getting Started With Scoring
Get the team togetherDecide on the model and whose opinion matters1
Decide on criteriaWhat’s important to the group and get agreement on the criteria
Roll it outShare the scoring methodology with all team members who will be submitting requestsCreate a communication plan and a timeline for rollout
2
3
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5 Steps To Getting Started With ScoringGet a process in place to support the scoringEither a team meets regularly to review all requests at once and they discuss, giving it one scoreOr the approval flow can be automated, traveling to individuals to review and score on their own time
5
4
Right-size the scoring profileMay need different scoring profiles for different teams / departments or for different types of work (small projects, large projects, maintenance, change requests, etc.)
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Tips and Best Practices For Scoring
Value Should Be Measured By the Output of the Project – Not Just the Management of the Project. o Focus on the desired outcome or goal of your stakeholders
Have both quantitative and qualitative value metricso Quantitative: Revenue, Cost Reduction / Avoidance, Time To
Revenue, Profitability o Qualitative: Strategic Fit, Competitive Differentiation, Business
Expansion, Market Penetration, Risk, Customer Satisfaction, Compliance
Continuous Scoring and Prioritizationo Always aligned with the latest organizational goals
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Single Point of Entry
Consolidated entry point of all requests with complete visibility to all in the organization
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Strategic Alignment with Key Business Objectives
Weighted scoring accurately reflects business value and
provides more context
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Strategic Alignment with Key Business Objectives
Maximizes strategic alignment with business partners
Approvers or Key Stakeholders review and
score each project
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Visually present project values
Justify why you are taking on projects across portfolio
Fosters healthy conversation and better
decision making
Results in resources working on the right work at
the right time
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Enterprise level prioritization with visual presentation of data
Fosters healthy conversation and better decision making
Results in resources working on the right work at the right time
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Live Q&A
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Innotas Company Overview
Cloud portfolio management solutions to improve value contribution by connecting planning & execution
Disruptive technology and a history of market “firsts” – most recently Predictive Portfolio Analysis (PPA)
500+ customers, including proven enterprise-wide deployments in Healthcare, Financial Services, Technology, Government, and Education
Project Portfolio ManagementEffectively manage project requests, resources, budgets and projects
Application Portfolio ManagementAnalyze and manage IT tasks needed to sustain existing operations
Predictive Portfolio AnalysisPredict, plan, and re-plan your highest value portfolio that aligns with business goals
Resource ManagementProductive alignment of IT resource capabilities and availability
Four-Time“Leader”
“Leader” Cloud-nativeMulti-tenant
“Leader”
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Contact Innotas
Phone: +1 866-692-7362
Email: [email protected]
Twitter: @innotas
LinkedIn: http://www.linkedin.com/company/innotas
Blog: blog.innotas.com
Learn More: www.innotas.com/resources