The holidays are about more than just football and turkey, but since that is what’s top of mind this time of year let’s keep that in mind as you prioritize your projects for next year. Prioritization of projects is an essential part of PMO value contribution. Unless your PMO has more resources than it knows what to do with, you likely have a higher demand than resources to complete them all. Prioritizing these requests requires a large amount of practice and precision to get it right. Project prioritization can be tricky, but just as football plays need to be practiced and perfected, the prioritization method needs to be battle tested and modified to improve. Use this playbook as a guide to create a scoring method for prioritizing your projects.
1. Team Talk
Because prioritization is the second biggest challenge for PMOs today, getting the team aligned and agreed on what the basis of the scoring model will be can be a tough first step. Start by:
Just because almost half of PMOs don’t score projects doesn’t mean that yours has to be one of them. Get the right players in the room to:
Leaders see a 30 percent increase in project success rates when scoring is implemented, so game on! Ensure visibility by sharing the plan with key players and begin to:
Account for changes in the portfolio plan along the way. While it wouldn’t be beneficial to overhaul the plan before it is executed, a degree of agility will benefit the entire organization. After all, 75 percent of organizations that remain agile meet their goals or business intent.
Keep moving toward the end zone. This means that even as changes come up, keep the end goal in mind and make sure that what is amended truly is what is best for the business. Alignment is critical. Organizations that align their PMO to strategy report 27 percent more projects completed successfully and 42 percent fewer projects with scope creep, in case you needed more justification.
Once you have implemented and perfected your scoring model, you are on your way to maturing the organization and delivering better results. A few items to keep in mind as you close the scoring loop are:
We know creating a scoring model requires a deep amount of persuasion and finesse, but getting started is sometimes the hardest part. Hopefully this guide gives you a high level understanding of how scoring can benefit the organization and give the PMO a bit more reason to give (and get) thanks this holiday season.
About the Author
Alexandra Zaniewski is the Marketing Program Coordinator for Innotas by Planview, with a leading IT Project Portfolio Management solution for midsize enterprises. She can be reached at Azaniewski@innotas.com
Edited by Alicia Young