Projects are risky activities. We take on a managed level of risk in order to achieve defined rewards. It's therefore not surprising that some projects fail — completely eliminating failure would be a sign that we're being too risk averse. Problems arise when the level of failure across our program or portfolio is not commensurate with the desired risk/reward profile. Project reviews and assurance can be a very useful tool to help monitor risk levels across our portfolio, and hence to identify and mitigate the risks which are not being managed effectively. This talk looks at some factors you should consider when setting up an assurance programme.
Text of Using Reviews and Assurance to Manage Portfolio and Programme Risk
1. Using Reviews and Assurance To Manage Programme and Portfolio RiskGraham Oakes (firstname.lastname@example.org) December 2013
2. Outline Projects fail Thats OK Portfolio mgt is easier than project mgt provided you can get the right information Setting up an assurance programme 3. Why do projects fail? Simon Schoeters 4. We lose touch with reality Christiaan Triebert 5. Failure becomes obvious when we run back into reality Simon Schoeters 6. Failure is OK! L Gnome 7. There are 2 types of failure: Inherent & Unnecessary macrophile 8. Statistics dont work for project managers Steve A Johnson 9. Statistics do work for portfolio & programme managers James Bowe 10. Portfolio & programme managers have more tools veryuseful 11. But they often dont have the information they need Jeroen_bennink 12. The role of assurance is to provide validated information owenwbrown 13. How do we set up an effective programme of reviews? Colin_K 14. 1) Make reviews the norm Lars P. 15. 2) Be clear who youre serving Bird Brian 16. 3) Tune investment to risk levels digitalmoneyworld 17. 4) Use a mix of review types vie_ascenseur 18. 5) Negotiate clear objectives for each review Richard_of_England 19. Control parameters BaselineCriteriaReference ModelsFeedback to improve reference modelsReview execution InputsOutputsArtefacts & other items to review, plus supporting details.Analysis Loop Go / No -go decision.Improved artefacts.6) Run a structured process Recommendations to improve review artefactsSimon Schoeters 20. 7) Focus on evidence Simon Schoeters 21. 8) Manage logistics strudelt 22. 9) Minimise overheads jcroninone 23. 10) Train people One Laptop per Child 24. 11) Act on findings mikebaird 25. 12) Monitor effectiveness SearchEnginePeopleBlog 26. 13) Disseminate lessons learned The U.S. Army 27. Assurance supports stakeholder communications Keoni Cabral 28. Summary We engage with risks to achieve rewards Sometimes the risks win Aim is to eliminate unnecessary failure Program & portfolio mgrs have a lot of tools They need information in order to use them Reviews & assurance provide this information (provided theyre set up appropriately) 29. Unnecessary Failure happens when people with the skills, resources and authority to act effectively dont get full, validated information about project status and issues. The role of reviews and assurance is to provide this information. 30. Thank You email@example.com @GrahamDOakes35