Download new Thinking Portfolio – Project Portfolio White Paper 2017!
We’ve published the second edition of our hugely popular Project Portfolio Management Playbook. The new edition is titled Thinking Portfolio Insights Cookbook – an e-book with over ninety how-to articles on how to succeed in managing your project portfolio. […]
At Savon Voima, Thinking Portfolio operates as a development portfolio used to manage the company’s strategic programmes and the project contained within it, as well as various types of research and development projects. The development includes programmes such as: Carbon dioxide-free electricity generating systems, a weather-reliant electricity grid, giving definitive form to client relations , 100% self-sufficiency domesticity and zero accidents.
With the establishing of the new project template, Kemira’s IT and Operational Excellence Department made the joint decision that it was time to commission a tool to manage the project portfolio that would replace the Excel files and separate resource management application previously used.
The implementation of Lemminkäinen’s Thinking Portfolio was conducted at the end of the year when the application was used for monitoring and prioritising internal development projects for business operations and support functions. The previous version of the application was in use earlier on, but back then there was no great need for a project portfolio that continued to be in active use.
Finnair is an airline network specialised in flying between Europe and Asia along the shorter northern route. Finnair uses Thinking Portfolio’s Project Portfolio, which currently manages its IT projects. There are plans for Thinking Portfolio to become the go-to project management application for all types of projects including procurement, commercial investigation and projects to open new flight routes. The intention of the ongoing Roadshow is to communicate information about the potential of the application for future [...]
Managing a large number of proposed and existing projects is no easy task, but it is certainly easier in the digital era. Effective project portfolio management can make all the difference between success and failure while it could also mean better ROI for your organization. Reports say that organizations that have an efficient portfolio management system had 62 percent of their products either meet or outdo the ROI expectations as of 2012. Digitalization can be [...]
Failure in project management is often due to weakness in business process implementation and decision making, as opposed to the efforts and executions themselves. Six Sigma is an effective business management principle that can help enhance process outputs by correcting flaws that hamper progress. Let's take a look at how the five important steps in Six Sigma can be implemented in project management. The five six sigma principles that we are looking at today are [...]
Project managers and sponsors work hand in hand on projects. Project managers do not get to choose the sponsor that they want to work with. Typically, a sponsor is already in place, before a project is assigned to a manager. If your sponsor does not understand the roles that he/she need to fulfill, then you should be be bringing up the same with them, else you may be held responsible in case the project falls [...]
While there have been many and many books written on the subject of project management, there is no sure-fire procedure or equation to get it right. Of course, that also explains why there are so many books on it. Well, we'll cut to the chase and lay out six project management principles that you can use. Research A project manager should have a fair understanding of the industry or niche of the project, so they [...]
Project management, like a lot of other things, is best explained through an example, and in this case a fable. One story that we can think of which rings true with project management principles and practices is The Blind Men and the Elephant by David Schmaltz. In the story, six blind men are asked to describe an elephant. Each one comes up with a different description; one man feels its tail and calls it a [...]
In this instance the portfolio management causality means the relationship between two events which affect the portfolio. This is a situation where one event causes another. Typically, from portfolio management perspective, this could mean a significant change in the customer demand or in the interest level. A well-defined portfolio can find an effect for this during portfolio analysis. External indicators for the portfolio are a challenge A company's external factors and their indicators are often [...]
What can be done to avoid making project management a beastly task for everyone in the organization? How does a project actually become a success story? We can get the answers to all these questions in David Schmaltz’s tale “The Blind Men and the Elephant”, which is a guide to understanding and managing project work. In the story, six blind men try to formulate a description of an elephant to meet the others’ satisfaction. And [...]
Today, we will see what we can learn from the fable The Blind men and the Elephant by John Godfrey to see how it can be applied in the context of project management. If you do not know the story here's how it goes. Six blind men up to an elephant to “see” it and describe how it looks. Each of the six men perceive the elephant differently, as a snake, wall, spear, tree, fan [...]