Projects, programmes and portfolios
The complexity of making changes in a company, in this day and age, is a challenge. Adjustments in how you work need to be structured and integrated with other critical business functions to work. Good governance needs to be implemented and the changes need to be delivered in the shortest possible time to reduce waste and eliminate overload whilst remaining sustainable in the short and long term.
Projects, programmes and portfolios enable us to make the best use of limited human resources and funding. We will look at how each organisation type helps us.
Projects are temporary and focus on how and when to deliver outputs that give a specific capability. This capability is then used by operational departments to achieve outcomes and realise benefits.
They can be run as separate organisations or as sub-organisations to a programme.
Programme organisations are temporary, comprising of multiple projects and other activities. The management will ensure that the right projects and activities are done at the correct time, in order to deliver the needed results.
Programmes focus on achieving strategic outcomes and realising benefits based on the capability delivered by its component projects. The programme organisation and the programme manager in particular, are responsible for developing and maintaining the programme environment to support each individual project within it.
Portfolios are permanent organisational structures that enable a systems approach, in which transformational initiatives (programmes and projects) can be prioritised and managed.
The portfolio organisation makes sure that you initiate and deliver the right programmes or projects at the right time, in terms of the whole organisation’s needs. This ensures that the business optimises their return on limited resources.
One key benefit derived from the investment in setting up a portfolio organisation, is the development and retention of knowledge that can be used across the organisation.
Project, programme and portfolio organisations are useful structures for any size of organisation that implements change initiatives. They can be used in strategic business planning, resource management, financial control, IT service management or organizational development
We have used these approaches in small ten people companies as well as companies with hundreds of employees. These structures improve the flow of value and maximise the value delivered in the shortest possible time. They reduce waste and eliminate potential overload.
At Forbytes we focus on digital change initiatives. If you want help implementing and running projects, programmes or portfolios we will be happy to help. Feel free to contact us.