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The Benefits & Challenges of Enterprise Portfolio Management

The Benefits & Challenges of Enterprise Portfolio Management. Michael S. Belk, MEM, CEI, CEM, MCP Manager IT Projects International Paper Company. MAESC Christian Brothers University, Memphis 11 May 2005. Agenda. Introduction Background Benefits Challenges Next Steps. Introduction.

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The Benefits & Challenges of Enterprise Portfolio Management

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  1. The Benefits & Challenges of Enterprise Portfolio Management Michael S. Belk, MEM, CEI, CEM, MCP Manager IT Projects International Paper Company MAESC Christian Brothers University, Memphis 11 May 2005

  2. Agenda • Introduction • Background • Benefits • Challenges • Next Steps

  3. Introduction • EPM is a management process used to select, control, and evaluate investments within and across asset and project portfolios. The primary focus of technical portfolio management is to ensure alignment between business goals and technical investments.

  4. Introduction • EPM works by centralizing the information platform, by standardizing project processes, and by providing a common enterprise governance process for optimal business & technology decisions, ensuring successful execution on the corporate enterprise strategy

  5. Background of IT • International Paper Company 1999 • Decentralized • No enterprise view of projects planned or in progress • Unknown costs & vague strategic alignment • Informal project processes • Multiple processes, most undocumented • Few, if any, best practices being followed • No historical records of projects • Fragmented project management staff • Few full time PMs • Many people doing PM work 5%-50% of time • No Center of Excellence (COE)

  6. Background of IT • International Paper Company 2003 • Decentralized • No enterprise view of projects planned or in progress • Unknown costs or strategic alignment • Formalizedproject processes • One process for all projects • Common terminology • Dedicated project management staff • Many more identified full time PMs • Fewer people dabbling in PM work • Still no COE

  7. Background of IT • International Paper Company 2005 • Centralized • Organization re-alignment • EPM process & enablements implemented • A view of all projects & proposals • Including costs, resources, and time • Formalizedproject processes • Integrated with EPM processes • Dedicated project management staff • All key PM staff identified and part of the COE

  8. Benefits • Improve funding allocations & decisions • Maximize value of technical investments while minimizing the risk • Improve communication and alignment between technical and business leaders • Greater business accountability for investments • Allow planners to schedule resources more efficiently • Reduce the number of redundant projects and make it easier to kill projects

  9. Challenges • Commitment from Top Management • Communication of Decision • Dedicated Team Members • Research & Solution Selection • Communication To Management • Organizational Change Management • Communication to Organization • Training of Processes & Enablements • Communication to Stakeholders

  10. Challenges • Keep the Big Picture • 100% of all technical work is visible, planned and managed in one place • Goal is to balance Budgeted Work against Planned Work against the Supply • Productivity Dip • Process & Enablements Owner/Support

  11. Next Steps • Baselining & Earned Value Metrics • Mature Governance Processes • Implement Globally • Integrate Business Stakeholders

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