When project/program investment management processes are disconnected from the project portfolio management processes, up to 80% of the project portfolio can be strategically irrelevant!
How can you increase the value of a project from $0 to $40 million in two weeks?
A 'project delivery' mindset generated business case can easily miss massive business value. A different "value delivery" mindset is required.
The trend for early business cases is actually destroying value when it is intended to protect it.
Most project investments are losing far more money than appears. Maybe double or more. The actual waste is massive. Learn why.
Most business cases miss at least 25% of the value available from the project. That's a quarter of the potential project value lost before you even start. You can easily fix it.
You need to specify how your project is to be controlled and reported so that the value defined in the Business Case is protected. This ensures your project will be an outstanding success.
Who is accountable for delivering what on a project needs to be clearly stated. The people accountable for delivery need to be appropriate.
To validate that the project's value is attainable, you need to assess the risks to project and benefits success.
You need to specify the resources you need to deliver the value promised in the Business Case.
Investment in a project should be justified on the maximum value that is available. But too often projects define only enough value to justify the expenses to get the project approved.
Before you justify your project's solution, you first need to define the rationale for the project - why do you need to do the project at all.
The role and nature of the business case is commonly misunderstood. This leads to poor quality business cases which set projects up to fail.
Critical Insights (4) We don't do business cases to justify the project - we do projects to deliver business cases!
We take enormous effort to compute the project’s workload, effort and costs for the Business Case. And then we try to find enough benefits to justify the costs or generate a positive ROI or clear the capital hurdle rate to gain approval.
Most of the value lost in projects is lost well before the project gets to implementation. This value loss may occur due to business (in) activity rather than be the fault of the project.
Project Governance on Steriods
Who’s on first?
3: The Value Gap
How do you introduce Project Governance into your organization?
The performance and processes of the Project Investment Management Committee are too often unnecessarily poor. This can be easily fixed.
Who is accountable for delivery of the business benefits? In most organizations this is still unclear.