Portfolio Management (PfM) is a strategic approach to managing a set of investments that will deliver your organisation’s strategic objectives. It may be that these investment projects deliver some additional capability, outcome, business model or other strategic advantage.
Portfolio Management is typically used to regulate and manage projects, but PfM practices are easily applied and relevant to any portfolio whether these be IT Applications, Assets, Support Contracts or Acquisition to name but a few.
Our consulting team has been involved in helping organisations understand the benefits of portfolio management, building PfM roadmaps, developing financial, governance & approval, risk and prioritisation models for evaluating an organisation’s initiative pipeline.
HPS understand portfolio management and portfolio management solutions and would be happy to share our expertise and experience. The diagram below provides a simple way to capture the portfolio management process.
If the above diagram looks like it could be your portfolio management process, then we should talk. HPS has performed over 100 successful engagements implementing portfolio management in its various flavours (see later on this page) and would like to help you make your PfM implementation a success.
The diagram below represents the typical business portfolio management process. It starts with initiatives being collected from across the organisation, an initial screening is performed to weed out crazy ideas, the initiatives are then populated with relevant data and when they have met the minimum data requirements are reviewed by the Investment Review Board (IRB).
At the IRB meeting initiatives can be Approved for funding, placed on Hold awaiting additional information, or Rejected. All these activities are managed in the Oracle tools to deliver end-to-end portfolio management functionality.
Propose, Choose, Execute & Control
There are several types of Portfolio Management, HPS has implemented all of them.
See our customer stories for some examples – or better still contact sales@hydeparksolutions.com to find out more.
Understanding Organisational Maturity
HPS understands that implementing any solution depends on the maturity of the organisation’s people. If a lower level of maturity exists then the solution should support that maturity level.
We design solutions to support an organisation’s current maturity level, while designing it to be able to be extended to meet higher levels of maturity.
Failure to match solution maturity level with that of your people will significantly reduce system adoption, as people feel removed from the process and alienated by the seeming complexity of the solution.
Collaboration
The process of Portfolio Management requires financial, resource, risk, benefit and governance experts to all work together as they seek to deliver the organisation’s strategic agenda.
Implementing portfolio management solutions is no different to the process of portfolio management itself. HPS works in a collaborative way, preferring to run Agile workshops within a overall Waterfall design.
Oracle Tools
Oracle have two tools that enable and support organisational portfolio management
Primavera Cloud and OPPM are fully configurable solutions and as you would expect from a vendor like Oracle aimed at those organisations that are either complex in their requirements, large in the number of items in the portfolio, or operate in extremely challenging environments. Both these software tools are configurable by the certified and specialised team within HPS.
Oracle tools are by design performant, highly configurable and have API’s that enable interoperability between other enterprise application (SAP and EBus) and other Oracle and non Oracle applications.
Integration
Portfolio Management requires financial, resource, risk, progress, benefit and governance data in order to work. This type of data will normally be held in other systems (system of record) and will therefore be required to be shared with the portfolio management system.
Every portfolio management implementation engagement we undertake has some form of data integration, some from systems of records (like actuals from ERP systems) and others from your portfolio management solution to external systems (financial planning data or governance gate information). HPS are familiar with the data exchange options available and have expertise in deploying these.
Hyde Park Solutions, Oracle Primavera partner, at the forefront of Portfolio & Project Management, having the largest number of certified professionals delivering solutions using P6, Unifier, Primavera Cloud, OPPM, Aconex, Primavera Analytics and Integration Cloud Service with global delivery teams.
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