Product / Project Portfolio Management – PPM2
ADVISORY ARTICLE
By Dennis Wiggins
Analytics Plus PPM2, LLC
Georgia, USA
“Driving a business at the C-Level is just like driving a race car while monitoring the dashboard gauges except the dashboard are suite of cross-functional performance metrics!”
The premise of this article is to demonstrate the impact of “Digital Transformation” on the Product & Project Portfolio Management (PPM2) disciplines using pre-programmed models incorporating Project Management Office (PMO) Best Practices for real time communication to the C-Level – The “GAP”.
First, I would like to say that most vendors do not provide both a Product & Project Portfolio Management (PPM2) solution. An earlier version of the Analytics Plus PPM2 solution was awarded the Project of the Year (POY) by the PMI Atlanta Chapter (2nd largest in United States, 3rd largest worldwide). Also, it was evaluated by the Institute of Industrial Engineering a 2.9 out 3.0 (which is equivalent to 97%) and recommended for academics training!
So, you should be aware the “Digital Transformation” for Product / Project Portfolio Management (PPM2) has already begun ready or not. Leadership must be able to apply critical thinking to clearly see organization business objectives in the mirror through the smoldering smoke (as you are blinded) by ranking PPM software vendors with incomplete solutions!
The question you should ask is this vendor a practitioner of PMO Governance or are they providing a PPM interim (band aid) solution that will require contractor costs to support the software application ad hoc reporting gaps? Also, is the information not included in the Product / Project Portfolio Management Tool critical to the business. It is my opinion, that the more you know about the performance of your organization the more successful quality improvement productivity will be for corporate profitability.
The question prior to incurring Product / Project Portfolio Management costs is whether it achieves 80% to 90% of the tasks for projects in flight through automation and integration throughout the process for PMO Governance. This requires the vendor to be able to customize the application for the nominal count of critical tasks desired the business not included in the software application.
All government & business organizations need to understand the benefits realization during the decision-making process in selecting a 2021 Product / Project Portfolio Management (PPM2) Tool. Let us take a moment and consider the combined costs associated with PMO’s for PPM software applications: Procurement Cost or SaaS Expense, software training, process re-engineering, licensing and break fix maintenance, and contractors to generate ad hoc reports not generated by the PPM Tool…
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How to cite this article: Wiggins, D. (2021). Trifecta PPM2 Methodology: Product / Project Portfolio Management – PPM2, PM World Journal, Vol. X, Issue II, February. Available online at https://pmworldlibrary.net/wp-content/uploads/2021/02/pmwj102-Feb2021-Wiggins-Trifecta-PPM2-Methodology.pdf
About the Author
Dennis B. Wiggins, Chief Portfolio Officer (CPO)
Analytics Plus PPM2, LLC
Norcross, Georgia, USA
Dennis Wiggins has over 25 years of experience and am an expert in the Product / Project Portfolio Management (PPM2) discipline. He is a Domestic & International Instructor for the following: Project Management, Lean Six Sigma Green Belt & Black Belt Courses. In addition, he is a domestic and international speaker for Product / Project Portfolio Management discipline.
Mr. Wiggins is a PMO Governance Leader contracted through Accenture (Big 4) Consulting for BellSouth Network Services; a $250 million-dollar portfolio with approximately 140 projects in flight and 80 to 90 Project / Program Managers. He has reduced Project Portfolio Management (PPM) cycle time reporting in a matrix structure for Executives from 1 month to 1 week. This resulted in a significant reduction in costs resulting from timely escalation and delivery of projects.
He is founder of Analytics Plus PPM2, LLC which automates and integrates the Chief Portfolio Officer (CPO) Organizational Hierarchy from the Project Manager, Program Manager, Portfolio Manager, PMO Governance, Product Owner, up to the Chief Portfolio Officer (CPO).
Dennis is a graduate from the State University at Old Westbury College with a Bachelor of Science in Business Management with a concentration in Finance. He is also a graduate of a world-renowned Financial Management Program (FMP) with General Electric with the following certifications: Project Management Professional (PMP), and Lean Six Sigma Black Belt (LSSBB).
Company website: https://aplusppm2.com/
Email: corporate@aplusppm2.com
Telephone: 404-547-3097
