Tag Archives: MoP_practices_in_practice

DICE, a tool for executional certainty

Dia1I received a mail from the Boston Consulting Group. Among other topics they highlighted their DICE tool to access and set up change initiatives. The DICE framework is a tool originally developed by Perry Keenan, Kathleen Conlon, and Alan Jackson (all current or former Partners at The Boston Consulting Group). By using this DICE tool, BCG claims that you can dramatically improve the odds of success.

In one of my previous posts regarding MoP practices in practice I already made a reference to this tool.

It’s a very simple tool to position your project on the DICE chart. Based on five questions you get an indication if your project is positioned as win, worry or woe. A project in the woe area is structured or guaranteed to fail. The tool gives suggestions for improving your DICE score. And of course it’s much more important to have a conversation about the scores and what you can do about it than only look at the final score itself!

Schermafbeelding 2015-08-14 om 15.13.30The DICE score (D + 2I + 2C + C2 + E) is based on:

Duration (D): Either the total duration of short projects, or the time between two milestones on longer projects

Team Performance Integrity (I): The project team’s ability to execute successfully, with specific emphasis on the ability of the project leader

Commitment (C): Levels of support, composed of two factors:

  • C1 visible backing from the sponsor and senior executives for the change
  • C2 support from those who are impacted by the change

Effort (E): How much effort will it require to implement (above and beyond business as usual)

1: copied from Wikepedia

In the embedded video from Perry Keenan you get an intro to the DICE tool.

If you go to the BCG DICE website you can get access to the DICE calculator, DICE FAQs and a library with the original HBR article The hard side of change management.

You will also find a set of small videos explaining the assessment of the DICE score, Duration, Integrity, Commitment and Effort and the setup of a DICE workshop and the DICE portfolio.

You will also get access to some related documents like:

  • A way to access and prioritize your change efforts (new HBR article about the DICE tool)
  • Leading change in turbulent times (about emotional turmoil that can drastically undercut the change effort)
  • Transformation: The imperative to change (Case studies of transformation excellence)
  • Executing Change beyond the PMO (from PMO to SIO: Strategic Initiative Office)
  • Strategic initiative management: the PMO imperative (The role of the PMO).

Conclusion: a simple tool, be accompanied by many relevant documents and videos. It is shared by BCG and can be very helpful in assessing your own portfolio and to trigger conversations about the focus in your portfolio and individual interventions for your most important projects!

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MoP: Organizational energy

Dia1 It’s a good start to have your processes in place to accommodate the practices of the portfolio definition and delivery cycles. But you need more. If there is no commitment of senior management it will be a mission impossible to accomplish the portfolio goals.

Your staff must show involvement, looking for new opportunities, new innovations, willing to take decisive actions to solve problems because they want to work for a successful organisation, or in other words they must show productive energy.

MoP describes the energized change culture as one of the principles and sees this organization energy as the linking pin between the two portfolio management cycles. The energy is the “fuel” for change and performance.

Being successful is all about people and in that sense it’s a pity the MoP manual spends just a few pages on this topic. Searching on the Internet gave some interesting presentations and articles from Vogel.

Henley Business School/Vogel defines organizational energy as ‘the extent to which an organization (or division or team) has mobilized its emotional, cognitive and behaviour potential to pursue its goals.’

Dia50This article is divided into the following paragraph:

  • Intro
  • Portfolio management principle 5: Energized change culture
  • Organizational energy matrix
  • What is the energy state of your company?

To download: MoP (practice Organizational energy, 150515) v0.1

This article will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.

MoP: Portfolio management organization

Dia1

To implement en maintain portfolio management in your organization you need to have senior managers who are committed to portfolio management. The first step will be the institutionalization of a portfolio board. In line with the P3O and MoP theory we see the following portfolio bodies and teams (see Figure 1: Portfolio management organization):

  • Portfolio Direction Group or Investment Committee
  • Portfolio Progress Group or Change Delivery Committee
  • Portfolio Office (permanent)
  • Centre of Excellence

Dia52

This article is divided into the following paragraph:

  • Overview
  • Purpose and responsibilities

To download: MoP (practice Organization, 150422) v0.1

This article will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.

MoP Practice 5: Plan. How to create a portfolio plan?

Dia1The purpose of the ‘plan’ practice is to collate information from the portfolio definition cycle and create a portfolio strategy and portfolio delivery plan which will be approved by the portfolio direction group/investment committee. Both documents can be combined in a single document (Portfolio strategy and delivery plan). The objectives are to:

  • Provide a longer term overview
  • Provide clarity to stakeholders
  • Motivate people to commit to the delivery of the shared goals
  • Convert the balanced portfolio into a plan
  • Provide a baseline (the portfolio delivery plan) against which progress can be monitored, reviewed and managed (via a portfolio dashboard).

The portfolio office will normally update the plan on at least an annual basis in close cooperation with the business strategy, finance and performance management functions in your organization to assure that the plan is still aligned with the corporate (mid term) strategic, financial and business plans.

This article is divided into the following paragraph:

  • Portfolio delivery plan
  • Examples
  • Keys to successful planning

Dia46To download: MoP (practice 5 Plan, 141128) v0.1

This article will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.

MoP Practice 4: Balance. How to get a balanced portfolio?

Dia1The purpose of the ‘balance’ practice is to ensure that the resulting portfolio is balanced in terms of factors such as timing, coverage of all strategic objectives, impact across the business, stage of initiative development, overall risk/return profile, and available resources.

You have to ask yourself if your prioritized list of initiatives (of all categories or segments) is still optimum.

This article is divided into the following paragraphs:

  • Factors to take into account if your prioritized list of initiatives is still optimum
  • Possible graphical representations to support decision making
  • Keys to successful balancing

Dia26To download: MoP (practice 4 Balance, 141109) v0.1

This article will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.

MoP Practice 1: Understand. How to obtain a clear and transparent view?

Dia1The purpose of the ‘understand’ practice is to obtain a clear and transparent view of what is in the current portfolio and the project (initiative) development pipeline, performance to date and, looking forward, the forecast costs, benefits, and risks to delivery and benefits realization.

But you have to be careful with transparency, see e.g. the quote from the Victor Lamme, professor of cognitive neuroscience at the University of Amsterdam (see article). You could also ask yourself if the transparency is one of the reasons why senior management are sometimes hesitating to implement portfolio management. Do they want to show what change initiatives are there in the pipeline to the whole organization? What does it mean or do with the organization if they are aware of an upcoming reorganization or transformation? On the other hand if there is no transparency, if not all initiatives are clear, it will be very difficult, if not impossible, to build a portfolio that is achievable.

Dia03This article is divided into the following paragraphs:

  • Collection of the needed and consistent information
  • Approaches to obtain initiatives
  • Keys to successful understanding

To download: MoP (practice 1 Understand, 141006) v0.1

This post will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.

MoP Practice 2: Categorize. How to define groups or segments?

Dia1The purpose of the categorize practice is to organize change initiatives into groups, segments or sub-portfolios to make it easier for senior management to understand what initiatives are part of the portfolio and how they will contribute to e.g. the strategic objectives of the organization. It will also help to decide on the balance of the portfolio across the different categories and on the optimum use of available resources (funding, people). Allocation of available resources across the different segments must reflect the strategic alignment of each segment. Each group or segment can have its own investment criteria to appraise and prioritize.

Dia04This article is divided into the following paragraphs:

  • Reflection on a simple portfolio
  • Categories or segments
  • Agile development teams
  • Building your segmented portfolio
  • Keys to successful categorization

To download: MoP (practice 2 Categorize, 140926) v0.1

This post will be used in a new book MoP practices in practice, for portfolio managers who want to embed the MoP theory in their organization. In the coming months several blog posts and articles will be published waiting for your feedback. To see all, select the tag MoP_practices_in_practice.