Project Portfolio - EIU Perspectives - The Economist

Carrie Ferman—SVP Strategy and Business Development, Sony Pictures ... for the C-Suite, an Economist Intelligence Unit (EIU) report sponsored by PMI, we .... project management office, but its role is often just to make reports to senior ...
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Report

Implementing the

Project Portfolio A Vital C-Suite Focus

CRITICALSTRATEGIC PROJECTS

Portfolio Manager CHANGE

VALUABLE LESSON IMPROVEMENT

Organizational Agility Resourcing

ADVANTAGE PORTFOLIO PERSPECTIVE

ALIGNMENT DECISION MAKING Competitive Advantage BIG PICTURE VITAL FOCUS Cultural Change LEADERSHIP SUPPORT COMMITMENT Organizational Agility Enabling Culture DECISION MAKING Written by The Economist Intelligence Unit.

PMI® Thought Leadership Series Implementing the Project Portfolio: A Vital C-Suite Focus





November 2015

FOREWORD: PROJECT PORTFOLIO MANAGEMENT IS THE GLUE THAT BINDS When executives use project portfolio management, strategic initiatives have a better chance for success. But are many organizations’ leaders missing in action? This concept is explored in the EIU study, Why Good Strategies Fail: Lessons for the C-Suite, sponsored by PMI.1 According to this study, the top reasons for the success of strategic initiatives are leadership support and buy-in. Yet only half of those surveyed say that strategy implementation as a whole receives appropriate attention from the C-suite. Our Thought Leadership Series on project portfolio management continues the conversation around the critical importance of executive visibility to strategy implementation equal to their participation in strategy development. Organizations are increasingly recognizing that effective project portfolio management, often referred to as simply portfolio management, helps them make decisions that will set them apart from competitors. Our 2015 Pulse of the Profession® report shows that only organizations with high portfolio management maturity average 71 percent of their strategic initiatives meeting goals compared to only 43 percent of organizations with low maturity. Could this set your organization apart? This report examines how strategy implementation and portfolio management intersect. The findings identify areas in which effective strategic portfolio management brings value to a company and the essential role of executives in that process. While there is no “one-size-fits-all” answer, this study offers a number of insights that show how portfolio management ties project selection to successful strategy implementation in strong and profitable organizations.

Mark A. Langley President and CEO Project Management Institute

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©2015 Project Management Institute, Inc.

PMI® Thought Leadership Series Implementing the Project Portfolio: A Vital C-Suite Focus





November 2015

ABOUT THE REPORT This report draws on two main sources for its research and findings: „„

A survey of 514 senior executives from a wide range of industries and functions. Forty-nine percent of respondents are C-suite or board members. The others hold senior management positions. Respondents are also globally diverse: 31 percent from North America; 29 percent from Asia-Pacific; 28 percent from Western Europe; and the remainder from the Middle East, Africa, Latin America, and Eastern Europe.

„„ A series of in-depth interviews with corporate leaders and academics. We thank them for their valuable insights.

Interviewees „„ Anthony Bramwell—Executive Director, Program Management, Ernst & Young, Germany „„ Tanai Charinsarn—Member of the Board, DCON Products, Thailand „„ Carrie Ferman—SVP Strategy and Business Development, Sony Pictures Television „„ Lawrence Hrebinkiak—Emeritus Professor, Wharton School, University of Pennsylvania „„ Catherine Killen—Associate Professor, School of Systems, Management and Leadership, Faculty of Engineering and IT, University of Technology, Sydney, Australia „„ Nirmalya Kumar—Member of the Group Executive Council Responsible for Strategy, Tata Group „„ Sascha Meskendahl—Co-Founder, Vendomo „„ Steve Moran—Managing Director, Project Manageme