Organizational assessments take many forms. For those who are embarking on their initial foray into portfolio management, this may involve determining the readiness of the organization resulting in a roadmap for action. In more mature organizations, the assessment is often a "health check" to see what areas are ahead and which are behind in the expected use of a process or a tool. Organizational assessments provide insight into the potential for success - especially important if the action contemplated has both high return and high risk.
We also use enhanced assessments to deliver value quickly - the HPS RAPID© Assessment is a proven method for providing stakeholders with realistic & actionable steps for cost performance improvement in as little as two weeks.
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We are focused on our customers and have a passion for both enterprise portfolio management as a discipline, and consulting as an avocation. We take on big challenges, provide big ideas, and always strive for the highest quality big results. At HPS Global Consulting, you come first. Always.
Our consulting services are designed to enable our customers to take advantage of best practices in project, program and portfolio management and improve the value derived for the organization from the investments made. They can be delivered separately or as part of a larger effort.
Portfolio Management Process Implementation
Just implementing an effective governance process does not mean that you are practicing "portfolio management." Organizations can be very effective at managing the pipeline of individual investments, but miss out on the benefits of looking across business units or geographies to maximize the value of the invested funds and human resources.
What if you could reduce "waste" by identifying and dealing with duplicate investments happening in multiple different locations? One customer described an event where six of the ten finalists for their annual "Best Technology Solution" coming from across their 15 divisions were for solving the SAME problem! Imagine if they had been looking at all of the solutions from a portfolio management perspective as they were proposed and consolidated them. Would a 30% or 40% savings have been unreasonable?
Even in organizations where funds aren't moved between business units, portfolio management techniques within business units can make initial proposals more aligned to the business objectives. It can also reduce duplicate investment by providing visibility into solutions already implemented or underway elsewhere in the organization.
When new tools and processes are put into place, there needs to be an "owner" who can be responsible for the ongoing sustainment and enhancing. The "PMO" was originally organized as the project management office (the police for project plans and timekeeping). In its newer incarnations the PMO is now often defined as the portfolio or program management office. Good project management practices are still necessary, but the added dimension of looking across the organization and providing decision support to senior leadership around best practices, portfolio management analysis, scenario planning and the like is more important than ever. We assist organizations in setting up or enhancing PMO's to take on these new and exciting responsibilities.
Training and Mentoring
With an extensive background in the delivery of these services with organizations of significant complexity, we understand the importance of effective training - whether that is on a new process, a new tool or a combination of both. HPS Global Consulting trainers can develop and deliver tailored training courses on-site for your staff (or training teams), and can develop computer-based training or self-study courseware. In addition, several times per year we offer open courses which enable customers and interested organizations to receive our best-practices input in a collegial setting with other like-minded individuals and teams.We also provide mentoring services for individuals and groups over longer periods - for example to support the implementation and execution of new governance processes over the first six months that the process is live.
Enabling Tool Implementation
Over the last 15 years there has been a focus on reducing project failure rates, especially around the implementation of new tools. Even portfolio management tools aren't "silver bullets" when it comes to improving performance.In our experience, the implementation of a tool is only one element of a three-pronged approach. To be successful - in sustaining performance, adopting new processes and embedding the "new way" in the culture - the tool implementation needs to incorporate and recognize the need for parallel (re-)alignment with changes in business process and organizational change management.Our approach to implementation of tools takes this into account to provide you with the best possible outcomes and sustainable results.
Governance Process Implementation
All organizations have an investment governance process - even if it is ad hoc. Someone is making decisions about what projects or programs to take forward and which to table. The keys for success using governance principles to improve selection, delivery and performance are to clarify, standardize, document and communicate. When staff don't know how to prepare for a successful proposal because the "rules" seem arbitrary and/or vague, results suffer.
Implementation of a well designed and documented governance process - often using a "stage-gate" approach - provides visibility for senior leadership and predictability for sponsors and stakeholders. It also enables supporting teams like the PMO to enforce standards for data that allow significantly improved decision making - both in the initial approval process and as investments come back up for review over their lives.