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Making Informed Choices – that move us beyond our default future
David Trafford
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Our choices
define our future
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Past choices define today
A recent Gartner survey concluded that most CEO’s felt that their CIOs are
“not cut out for the board”
The estimated cost of project
failure across the European Union is in excess of € 142
billion
Doing things right
-
Doing the right things
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Some choices will be
strategic
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Ideas drive choice
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Choices are complicated
by our legacy of
past choices
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and ...
… realisation that we live in a non-linear world
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What do we: start stop retire reshape reschedule
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We’re likely to make better
choices if we are
informed
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Making informed
choices requires: facts analysis context judgement
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... on: assets usage architecture initiatives people risks strategy
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WHAT IF
Analysis of impact on:
architecture change
portfolio compliance customer strategy
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Context defines how we see the
world – the lens that creates our criteria for
choice
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Is your context a portfolio of options? ...
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... or a roadmap to
an ‘improved’
future?
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“Good judgement comes from experience, and often experience comes from
bad judgement”
Will Rogers 1879 – 1935
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If deciding WHAT to do is increasingly important we need to develop an organisational capability that builds and maintains a dynamic, balanced
portfolio of initiatives and assets
Let’s call this organisational capability PORTFOLIO MANAGEMENT
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Organisational capabilities are: Part of the organisation’s DNA Embedded into the way things are done Not lost when people leave
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An organisational capability has shared: mental models frameworks language processes tools beliefs
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Many have failed to develop portfolio management as an organisational capability. Why?
Each initiative is judged in isolation
Too focused on process
Lack of clarity on strategic imperatives and target improved future
Key aspects of governance not
addressed
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Capability develops through levels of maturity
Inconsistent
Reduce variability and increase effectiveness
Mat
uri
ty/P
erf
orm
ance
Ad Hoc
Repeatable
Designed
Managed
Optimising
Time/Effort
Focus on continual improvement
Focus on quantitative
measures
Focus shifts to end-to-end process design
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What are the conditions for successful portfolio management?
1. Clarity of the targeted improved future
2. A process with an owner 3. Objective criteria to evaluate
each initiative and asset
4. Governance with clear accountabilities and decision rights
5. Maturity to hold crucial conversations 6. Enterprise as opposed to business unit focus 7. Architects that take a business perspective 8. Willingness to change as priorities change 9. Ability to make informed choices
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Portfolio management – as a mature organisational capability – enables the business and IT to ...
... by making informed choices
Reduce complexity
Reshape/reschedule initiatives to reflect
changing circumstances
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Manage risk
Have one version of the truth
Get everyone on the same page
Who is the best person to develop
this organisational
capability?
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"We are what we repeatedly do. Excellence, therefore, is not an act
but a habit." Aristotle, 384 BC – 322 BC
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David Trafford [email protected]
+44 (0)20 7917 2993 www.Formicio.com