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Making Informed Choices that move us beyond our default future David Trafford

Making Informed Choices That Move Us Beyond Our Default Future

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Page 1: Making Informed Choices That Move Us Beyond Our Default Future

Making Informed Choices – that move us beyond our default future

David Trafford

Page 2: Making Informed Choices That Move Us Beyond Our Default Future

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Our choices

define our future

Page 3: Making Informed Choices That Move Us Beyond Our Default 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

Page 4: Making Informed Choices That Move Us Beyond Our Default Future

Doing things right

-

Doing the right things

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Page 5: Making Informed Choices That Move Us Beyond Our Default Future

Some choices will be

strategic

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Page 6: Making Informed Choices That Move Us Beyond Our Default Future

Ideas drive choice

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Page 7: Making Informed Choices That Move Us Beyond Our Default Future

Choices are complicated

by our legacy of

past choices

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and ...

Page 8: Making Informed Choices That Move Us Beyond Our Default Future

… realisation that we live in a non-linear world

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Page 9: Making Informed Choices That Move Us Beyond Our Default Future

What do we: start stop retire reshape reschedule

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Page 10: Making Informed Choices That Move Us Beyond Our Default Future

We’re likely to make better

choices if we are

informed

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Page 11: Making Informed Choices That Move Us Beyond Our Default Future

Making informed

choices requires: facts analysis context judgement

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Page 12: Making Informed Choices That Move Us Beyond Our Default Future

... on: assets usage architecture initiatives people risks strategy

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Page 13: Making Informed Choices That Move Us Beyond Our Default Future

WHAT IF

Analysis of impact on:

architecture change

portfolio compliance customer strategy

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Page 14: Making Informed Choices That Move Us Beyond Our Default Future

Context defines how we see the

world – the lens that creates our criteria for

choice

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Page 15: Making Informed Choices That Move Us Beyond Our Default Future

Is your context a portfolio of options? ...

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Page 16: Making Informed Choices That Move Us Beyond Our Default Future

... or a roadmap to

an ‘improved’

future?

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Page 17: Making Informed Choices That Move Us Beyond Our Default Future

“Good judgement comes from experience, and often experience comes from

bad judgement”

Will Rogers 1879 – 1935

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Page 18: Making Informed Choices That Move Us Beyond Our Default Future

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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Page 19: Making Informed Choices That Move Us Beyond Our Default Future

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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Page 20: Making Informed Choices That Move Us Beyond Our Default Future

An organisational capability has shared: mental models frameworks language processes tools beliefs

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Page 21: Making Informed Choices That Move Us Beyond Our Default Future

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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Page 22: Making Informed Choices That Move Us Beyond Our Default Future

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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Page 23: Making Informed Choices That Move Us Beyond Our Default Future

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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Page 24: Making Informed Choices That Move Us Beyond Our Default Future

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

Page 25: Making Informed Choices That Move Us Beyond Our Default Future

Who is the best person to develop

this organisational

capability?

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Page 27: Making Informed Choices That Move Us Beyond Our Default Future

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"We are what we repeatedly do. Excellence, therefore, is not an act

but a habit." Aristotle, 384 BC – 322 BC

Page 28: Making Informed Choices That Move Us Beyond Our Default Future

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David Trafford [email protected]

+44 (0)20 7917 2993 www.Formicio.com