As a project portfolio manager, one of your primary responsibilities will be to manage the portfolio management process. Communicating an updated process is a common need for project portfolio managers to demonstrate how a project or program aligns to strategic objectives and enhances business value.
In this assessment, as the project portfolio manager, you will apply your strategic planning skills to design a portfolio management process. You will develop a basic understanding of a change management methodology to communicate that process to project managers, stakeholders, and executives.
Consider 1 organization whose strategic objectives you are familiar with. This could be your employer or another organization that you identify through research. Read through the assessment requirements and ensure that you have enough to complete this assessment.
Design a project portfolio management (PPM) process that will align to your selected organization’s strategic objectives and enhance the business value. This process may be intaking new projects or programs into the portfolio, prioritizing approved projects and allocating resources, capacity planning, monitoring project performance, or another process of your choice.
Write a memo to executive leadership, as appropriate, to communicate the PPM process you designed. Include the following information in your memo:
o In a brief narrative or summary, explain the process and how it enhances business value. Explain how this process is aligned to any specific business goals or strategic objectives and how the organization can more directly meet their overall strategic vision or objectives with this process.
o Explain the change management methodology you recommend (e.g., Prosci® ADKAR® model, Kurt Lewin’s methodology, Dr. John Kotter’s methodology, or something else) and how it will be used for communicating the change.
o Summarize the communication requirements to ensure the change is managed successfully.
o Identify tools and resources that will be used to support the change.
Create a diagram, such as a flow chart, to map the process. You may use Microsoft® Word or PowerPoint®. Remember that this diagram will be for the PMO, not for general project management.
Cite any references used and format citations and references according to APA guidelines.
Memo to Executive Leadership: Implementing a Strategic Project Portfolio Management Process
Date: [Today's Date]
Subject: Implementing a Strategic Project Portfolio Management Process
Dear Executive Leadership Team,
I am pleased to present a comprehensive project portfolio management (PPM) process designed to align with our organization's strategic objectives and enhance business value. This strategic approach aims to streamline project intake, prioritize initiatives, allocate resources effectively, monitor performance, and ensure that projects align with our overall strategic vision.
Process Overview and Business Value Enhancement:
The proposed PPM process begins with the strategic alignment of project proposals to our organization's goals and objectives. By prioritizing projects that directly contribute to our strategic vision, we ensure that resources are allocated to initiatives that will maximize business value and drive growth. This process will enable us to focus on projects that align with our core competencies, target market needs, and competitive positioning, ultimately leading to increased efficiency and profitability.
Change Management Methodology:
To effectively communicate and manage the change associated with implementing this new PPM process, I recommend utilizing the Prosci® ADKAR® model. This methodology focuses on individual change management by addressing Awareness, Desire, Knowledge, Ability, and Reinforcement. By incorporating this model into our communication strategy, we can ensure that stakeholders at all levels understand the rationale behind the change, are motivated to support it, and have the necessary knowledge and skills to adapt successfully.
Communication Requirements:
Successful change management requires clear and consistent communication. To ensure that the transition to the new PPM process is managed effectively, regular updates, training sessions, and feedback mechanisms will be implemented. Engaging with project managers, stakeholders, and executives throughout the process will foster a culture of transparency and collaboration, leading to greater acceptance and adoption of the new approach.
Tools and Resources:
To support the change management efforts, we will leverage tools such as project management software for tracking and reporting project progress, communication platforms for sharing updates and engaging stakeholders, and training resources to build capabilities within our teams. Additionally, dedicated change management resources will be allocated to provide guidance and support to employees as they navigate the transition.
Please refer to the attached flowchart illustrating the proposed PPM process for a visual representation of how projects will be managed within our organization.
Thank you for your attention to this critical initiative. Implementing this strategic PPM process will not only enhance our project management capabilities but also drive us closer to achieving our organizational goals.
Should you have any questions or require further information, please do not hesitate to reach out.
Sincerely,
[Your Name]
Project Portfolio Manager
Attachments:
- Flowchart of Project Portfolio Management Process
References:
- Prosci. (n.d.). ADKAR® Model. https://www.prosci.com/adkar/adkar-model
- Please insert any additional references used here following APA guidelines.