PMBOK Best Practices for Standardizing Your Project Portfolio and Governance -Webinar 03Oct24.pdf
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Maintaining control and alignment across projects is more than ever critical in today’s fast-paced environment. Standardizing your project portfolio using PMBOK methodology ensures governance, strategic alignment, and efficient execution across your organization. This exclusive webinar offers you an in-depth exploration of how standardized governance frameworks can elevate your project management practices, ensuring that every initiative aligns with your organizational goals. We will demonstrate how OnePlan integrates effortlessly with top Collaborative Work Management tools, including Planner, Project for the web, Smartsheet, Monday.com, Asana, Azure DevOps, Jira, and more. Learn to transform these tools into a comprehensive PMBOK-driven portfolio management solution that enhances decision-making, optimizes resources, and drives successful project outcomes.
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PMBOK Best Practices for Standardizing Your Project Portfolio and Governance -Webinar 03Oct24.pdf
- 1. In partnership with PMBOK v7 Best Practices for Standardizing Your Project Portfolio and Governance
- 2. Convergence towards a Common Goal Business Value “Outcomes” Predictive Predictive Predictive Agile Agile Hybrid Hybrid Predictive Agile Predictive Hybrid Hybrid
- 3. The Project Management Institute’s PMBOK Guide 7th Edition (July 1, 2021) represented a significant shift in project management thinking, moving from a process-based to a principles-based approach. * “Digital Business Leaders” is a term used only to describe a general group of key leadership roles in an enterprise (e.g., the C-suite; business executives) ©
- 4. PMBOK Guide 7th Edition Structure
- 5. PMBOK v7 Project Performance Domains Areas of knowledge that must be focused on to manage the project Stakeholder Project Work Delivery 01 05 02 06 04 08 03 07 Team Development Approach & Lifecycle Measurement Focuses on engaging and collaborating with stakeholders to support project decisions and outcomes. Establishing processes & infrastructure to enable the team to produce deliverables and outcomes. Managing the creation of project outputs, ensuring quality, and optimizing value delivery. Developing & managing high performance project teams, including leadership, culture, and performance. Selecting & tailoring the appropriate development approach and life cycle for the project. Assessing & taking actions to maintain optimal performance. Establishing effective measures, presenting information, & troubleshooting performance issues Planning Uncertainty Creating & maintaining plans to guide project execution, delivery, and closure. It covers various planning aspects such as scope, schedule, budget, quality, resources, and communications. Identifying & managing risks, embracing opportunities, and handling the overall uncertain nature of projects.
- 6. 12 Project Management Disciplines
- 7. Changes from PMBOK 6th to PMBOK 7th Edition
- 8. Differences Between Process-Based vs. Principle Based Process Rigid Structure Detailed Documentation Predictability Compliance Fixed Scope and Plans Principle Guidance Outcome Orientation Adaptability Continuous Improvement Value Delivery
- 9. Benefits of a Principles Based Approach to Project Management Flexibility and Adaptability Stakeholder Engagement Focus on Value Delivery Continuous Improvement Enhanced Decision Making Reduced Bureaucracy Scalability
- 10. "Successful projects deliver value worth the effort and expense." PMI is moving beyond the triple constraints (scope, budget, schedule) to focus on delivering value worth the effort and expense. PMI Redefines Project Success Pierre Le Manh President and CEO, PMI https://www.pmi.org/about/press-media/press-releases/pmi-champions-a-new-era-of-project-success, 19 September 2024 “Based on this new definition, PMI research reveals that 48% of projects are considered successful, while 40% fall into a gray area—neither failures nor successes—and 12% are outright failures.” (“Only 31% of software projects are successful. – Standish Group Benchmarks.”)
- 11. “Fit-for-Purpose” Project Management Approaches Source: PMI Annual Global Survey on Project Management 2020, 2021, 2022, and 2023 Predictive Hybrid Agile 56.1%
- 12. Predictive Hybrid Agile Source: PMI Source of the Profession 2024 Project Management Approaches By Industry
- 13. OnePlan a Leader in Adaptive PPM
- 14. Source: PMI Source of the Profession 2024 “Ways of Working Spectrum”
- 15. OnePlan’s PMBOK Solution Template
- 16. • Agile continues to grow • Predictive (Waterfall) still prevalent • Multiple Agile variants • Hybrid methodologies • Personalized, tailored versions Agile Predictive Hybrid Different Execution Methodologies
- 17. Proliferation of Project and Work Management Tools Across the Organization Demand Management Portfolio Management Project Management Time Management Reporting & Analysis PMO Marketing Finance Application Development Operational Excellence NPD Engineering
- 18. PRECONFIGURED SOLUTION TEMPLATES Comprehensive portfolio management capabilities supporting multiple methodologies and tools Planner (Basic & Premium) The Power to Choose
- 19. Software Development Ideation Professional Services Financial Management Work Management Service Management Private Cloud Connector OnePlan Integrations Dynamics 365 Dynamics 365 Dynamics 365 Strategy Enterprise Architecture Viva Goals • Pre-built connectors • Data / field mapping • Business rules • Workflows • Scheduling • Logging • Extensible and Flexible
- 20. OnePlan Provides the Path to Strategic Portfolio Management A complete solution for the Enterprise BUSINESS LEADERS Solutions that define business goals and strategies, as well as track progress at the levels of portfolios, business capabilities, products and strategic initiatives. OKRs | VALUE STREAMS FUNCTIONAL LEADERS Solutions that can present the interrelated perspectives, views and considerations needed to make strategic decisions across the business. ENTERPRISE ARCHITECTURE MANAGEMENT APPLICATION PORTFOLIO MANAGEMENT PRODUCT PORTFOLIO MANAGEMENT EXECUTION LEADERS Solutions that support the selection, planning and execution of a variety of different Initiatives across the organization ADAPTIVE | PSA | AGILE | PRODUCT
- 22. Project Management Office Innovation/ Transformation Sales & Marketing Information Technology Professional Services App/Product Development Operations Enterprise-wide and Cross-Functional Efforts PMOs use OnePlan solutions to manage the organization's portfolios of projects and ensure that resources are being used effectively to achieve the organization's strategic goals and objectives. Transformation departments use OnePlan as a tool to help them prioritize and manage the various projects and initiatives that they undertake as part of a broader transformation effort. IT departments use OnePlan solutions to manage their portfolios of technology projects and ensure that resources are being used effectively to achieve their goals and objectives. App/Product Development departments use OnePlan solutions to effectively manage the development of new applications & products and ensure that resources are allocated appropriately to maximize value Professional Services departments use OnePlan solutions to optimize their project and resource portfolios, align them with their strategic objectives, and maximize the value of their services. Sales & Marketing departments use OnePlan to manage various marketing campaigns and initiatives, such as product launches, advertising, and events. Operations departments use OnePlan solutions to manage their portfolios of initiatives and investments related to improving operational efficiency and ensuring that resources are being used effectively.
- 23. AI Evolution in Portfolio Management Step 01 Step 02 Step 03 Step 04 Step 05 APIs Scripts Predictive Analytics In-built AI Assistant Fully Auto Mode Integration Automation AI Based Suggestive for SPM AI Based Assistant for SPM AI Based Autonomous for SPM Previously Now Future nePlan AI
- 24. Say Hello to OnePlan’s ‘Sofia GPT’ A Game-Changer for Strategic Portfolio Management Data Integration: Accesses data from both OpenAI's extensive network and OnePlan's own resources. AI-Driven Collaboration Sofia GPT, an advanced Azure OpenAI module, is tailored to transform strategic portfolio and work management. Intuitive Interaction: Understands natural language and provides real-time responses, enhancing strategic planning and decision-making efficiency. Automation Powerhouse: Simplifies tasks like data entry, information retrieval, communication, estimation, anomaly detection, and more.
- 25. Sofia GPT Always Available in OnePlan
- 26. Sample Use Cases for AI in Portfolio Management OnePlan's Sofia GPT helps organizations make data- driven decisions and forecast outcomes. Strategic Planning Work Management OnePlan's Sofia GPT helps organizations balance their portfolio of projects to maximize value. Resource Allocation OnePlan's Sofia GPT helps organizations manage resources, tasks, and timelines more efficiently. Investment Forecasting OnePlan's Sofia GPT helps organizations identify and mitigate potential risks to their projects and portfolios. Risk Assessment OnePlan's Sofia GPT helps organizations optimize resource allocation across projects and teams. Portfolio Optimization OnePlan's Sofia GPT helps organizations manage project costs, budgets, and forecasts.
- 27. Demonstration
- 28. Gen AI Generated Templates
- 29. Summary and Next Steps
- 30. OnePlan Facilitates PMOs seeking to improve Strategic Portfolio Management (SPM) by aligning to PMBOK v7 based principles. • Principle-Based and Outcome-Focused Solution: PMOs can focus on outcomes and strategic alignment rather than just process and project completion. • Flexibility for Predictive, Agile, Hybrid: Enables PMOs to integrate agile, waterfall, and hybrid frameworks, allowing teams to use the best methodology for their projects while maintaining visibility across the portfolio. • Resource and Financial Management: Provides visibility into resource availability, crucial for tailoring projects needs for team performance. Integrates financial management, tracking budgets and linking them to project outcomes, supporting PMBOK 7’s focus on value realization. • Real Time Reporting and AI-Driven Insights: Provides customizable dashboards and real-time tracking of project performance for decision- making and the continuous monitoring of value delivery. AI-powered tools enhance decision-making by offering predictive analytics and scenario modeling. • Integration with Work Management Tools: Integrates seamlessly with Microsoft 365 tools, Jira, Azure DevOps, Smartsheet, and other platforms. This ensures that organizations can maintain existing workflows while transitioning to PMBOK 7’s best practices, fostering collaboration and reducing silos across teams. Summary
- 31. - Global PPM Leader for 5 Consecutive Years Consistently Recognized as a Market Leader OnePlan cited as a top vendor in “Determine the Future of Microsoft Project in Your Organization” Strategy and Innovation 2023 Peer Insights “Voice of the Customer” Strategic Portfolio Management Strong Performer in The Forrester Wave Strategic Portfolio Management
- 32. Our Next Webinars https://oneplan.ai/webinars/ • Frequent webinars on a variety of topics • Register for new webinars • Library of recorded, on-demand webinars
- 33. Free Trials https://oneplan.ai/solutions/ Complimentary assistance available from OnePlan
- 34. For more information: [email protected] Free Offers and Next Steps • FREE - OnePlan Trial • FREE – Roadmap Workshop • FREE – Personalized 1:1 Demo www.oneplan.ai
- 35. Contact Us [email protected] www.oneplan.ai Jose Levy [email protected] Thank You!! The Power of One