Projects to profit is a website that helps do exactly that - what it says on the tin. As well as all the hints and tips, my approach has been mapped out in a figure of 8, which you can download.
What the Figure of 8 approach will do for you:
align activities from the market to service
ensure demand and supply are balanced through a robust Portfolio Selection process
tips on capacity and capability planning, so that forecast P&L and skills planning looks ahead up to 5 years
align activities from the market to service
ensure demand and supply are balanced through a robust Portfolio Selection process
tips on capacity and capability planning, so that forecast P&L and skills planning looks ahead up to 5 years
DEFINITION and CONTEXT:
As Step 1 of the figure of Eight, Market is the start of a journey that captures demand and ends with projects delivering profit at step 8.
The Project Manager will want to understand your market analysis through the mission, products, and business need to the strategy segment, that sets a vision that the project will typically deliver part of. The project manager role is to create a plan and manage it to deliver part of that strategy segment.
Market analysis defines the consumer demand over time, within the context of the products the organisation can deliver now, in the future, not at all, or are too late for the market.
ACTION:
• Analyse and Quantify the needs of your market and competition in terms of products, services, risk, products, geography and social demography
• Create a matrix of parameters that define the Market and to feed a Product and Service mix that the market will need over time
· Start to distil the needs into a Unique Selling Proposition (USP)
WHO
This step is undertaken by a business or marketing analyst, though work needs to be time boxed, as their innate ability is to explore without a clear boundary and goal.
and at Step 1 we will also start to:
• Review Governance approach for the business. There is likely to be a precedent that has been set for all reporting, portfolio management, strategy reviews, change management, risk, configuration, communication and quality policies. Senior Management will want to decide the extent of change, ask their teams to
• Review and revise the RACI framework, which is composed of 4 different roles - R (responsible), A (accountable), C (consult), I (inform). Ultimately this will help control the processes across the whole organisation covering investment, strategy, portfolio management, project and programme management, service management. Ideally all the other areas - finance, marketing, sales and other functions will create their RACIs and the whole organisation will have processes set at the appropriate level (ie necessary and not micro-managing)
DELIVERABLES
It informs:
• the beginning of a review and definition of product / service and business requirements
• ultimately it feeds internal business demand, which defines the strategy segment targets / vision and ultimately the roadmap
• the alignment of internal and external markets
OUTCOME:
Based on this step, the organisation will start to:
· review, mission statement, product descriptions and quality levels to calculate business need.
· understand the calculations and assumptions in the business need, that will help define parameters for the portfolio management selection process to choose project scope.
As Step 1 of the figure of Eight, Market is the start of a journey that captures demand and ends with projects delivering profit at step 8.
The Project Manager will want to understand your market analysis through the mission, products, and business need to the strategy segment, that sets a vision that the project will typically deliver part of. The project manager role is to create a plan and manage it to deliver part of that strategy segment.
Market analysis defines the consumer demand over time, within the context of the products the organisation can deliver now, in the future, not at all, or are too late for the market.
ACTION:
• Analyse and Quantify the needs of your market and competition in terms of products, services, risk, products, geography and social demography
• Create a matrix of parameters that define the Market and to feed a Product and Service mix that the market will need over time
· Start to distil the needs into a Unique Selling Proposition (USP)
WHO
This step is undertaken by a business or marketing analyst, though work needs to be time boxed, as their innate ability is to explore without a clear boundary and goal.
and at Step 1 we will also start to:
• Review Governance approach for the business. There is likely to be a precedent that has been set for all reporting, portfolio management, strategy reviews, change management, risk, configuration, communication and quality policies. Senior Management will want to decide the extent of change, ask their teams to
• Review and revise the RACI framework, which is composed of 4 different roles - R (responsible), A (accountable), C (consult), I (inform). Ultimately this will help control the processes across the whole organisation covering investment, strategy, portfolio management, project and programme management, service management. Ideally all the other areas - finance, marketing, sales and other functions will create their RACIs and the whole organisation will have processes set at the appropriate level (ie necessary and not micro-managing)
DELIVERABLES
It informs:
• the beginning of a review and definition of product / service and business requirements
• ultimately it feeds internal business demand, which defines the strategy segment targets / vision and ultimately the roadmap
• the alignment of internal and external markets
OUTCOME:
Based on this step, the organisation will start to:
· review, mission statement, product descriptions and quality levels to calculate business need.
· understand the calculations and assumptions in the business need, that will help define parameters for the portfolio management selection process to choose project scope.
How do we put everything in context?
Working with so many top brands has developed my understanding of how projects
organised in a portfolio improve the whole organisational performance. Such an
approach encourages innovation and change, but keeps a controlled and integrated
approach.
There is a direct link between project products up to the strategy written to generate profit.
The portfolio management team make this happen, by selecting the right projects, overseeing their delivery into service and providing the prioritised mechanism to correct any service failure.
Everyone across the business understands the rules and governance that is in place, to a differing degree.
Delivering a strategy is critical for all organisations. The challenge is to deliver many projects with multiple interlocked skillsets. Getting it right creates a very profitable best service / product. It provides the sales and marketing teams with a controlled platform to promote a strong organisation.
Working with so many top brands has developed my understanding of how projects
organised in a portfolio improve the whole organisational performance. Such an
approach encourages innovation and change, but keeps a controlled and integrated
approach.
There is a direct link between project products up to the strategy written to generate profit.
The portfolio management team make this happen, by selecting the right projects, overseeing their delivery into service and providing the prioritised mechanism to correct any service failure.
Everyone across the business understands the rules and governance that is in place, to a differing degree.
Delivering a strategy is critical for all organisations. The challenge is to deliver many projects with multiple interlocked skillsets. Getting it right creates a very profitable best service / product. It provides the sales and marketing teams with a controlled platform to promote a strong organisation.