PPM 101: Implementation Timing

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PPM 101: Implementation Timing
Tom Mochal (August 7, 2008)

You can’t decide to implement portfolio management today and start executing tomorrow. It takes time to define the processes and manage the culture change necessary for people to understand and execute them effectively. Here is an optimal timeline — and an optional one for those moving forward on short notice.

Done right, project portfolio management can do a lot of good for any organization. But it’s not easy, as many companies, large and small, have discovered. In PPM 101, an ongoing series by veteran project management consultant and author Tom Mochal, we focus on the fundamentals for organizations that are just getting started on the PPM path.

Project portfolio management (PPM) may be new to your organization, but a business planning process should not be, even if it is not optimized. The timeline for implementing PPM should be superimposed on top of current business planning processes. Introducing portfolio management is also a culture change initiative, and culture change requires a long-term view. This is especially true for portfolio management since many execution details are only performed once per year.

For the purposes of this article, let’s assume that your fiscal year runs from January 1 through December 31.

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