Phekla

Phekla group!

- 5-10 tools (use from previous years or others)

- A short description

- How it can be used

- Limitations

- Link to the tool

Title 1

Portfolio Risk Management Process

Description

A portfolio risk management process is a process which a manager must work through to control the risk that may affect the portfolio. The outcome of this process is a solid strategy where risks are dealt with. The process is divided in 4 phases; identification, analysis, response and monitoring.

Management

In the first phase of the process, identification, all risk are identified. The risk that are identified will in the second phase be analysed and prioritized in relation to the impact an probability of the risk. Response to the risk are now developed where responsibility are defined so risk owners know how to handle the risks. In the last phase of the process the risks are monitored with the elements that are defined in "The Standard for Portfolio Management". Furthermore the monitoring and controlling manager should also develop responses to emerging risks and existing risks.

Limitations

As mentioned Portfolio Risk Management Process is a process to identify risks, analyse risks, develop responses and monitor the risks. These processes have limitations, e.g it is assumed that no "new" risk will occur. This defines that the world will act in the way we have seen before.

Link

http://wiki.doing-projects.org/index.php/Portfolio_Risk_Management_Process

Title 2

Managing successful programs (MSP)

Description

Managing successful programs is a key tool to secure a beneficial outcome of their business success. Today, organizations are facing constant changes in order to maintain with the fast-growing markets and compete with other companies, MSP has become more and more important. The goal of management is to maximize the benefits, while minimize costs and the need of effort by combining and coordinate all involved projects. To handle program management and tackle changes, MSP is a detailed framework where governance can be improved by organize planning and define common goals to achieve success.

The concept of MSP is to provide a method which manage programs in an efficient and structured appearance, so organizations can be more effective and contribute better services. The main idea about MSP is to divide the program into various smaller projects that are simpler to manage. MSP is based on three main elements:

• The Foundations: principles, vision, blueprint & benefits.
• People: organization, roles, leadership & stakeholder engagement.
• Structure: transformational flow, themes, blueprint, tranches.

Management

MSP is a successful tool for managing because of the flexibility, where different situations can be adaptive into the same framework with a structured program management methodology.

How it can be used:

• Set a goal for each project
• Identify the problem
• Define the problem
• Managing the tranches
  • Delivering of capability
  • Realizing the benefits
• Closing a program

Limitations

One of the limitations of MSP is the required workload and planning, since the tool has a explicit and complex protocol. This tool can be adapted for all types of programs; however, it is most suitable for smaller programs with fewer projects and less reasonable transformations required. Investment into a program can require high-level management, important founding and broad change within the organization. This can lead to challenges and difficulties during the program, especially if the program varies for a longer period. It can then be hard to motivate the employees and complications of staying on the right path can occur.

Link

http://wiki.doing-projects.org/index.php/Managing_Successful_Programmes_(MSP)

Trello

Using Trello in project management can be helpful in the following way. ToDo, Doing, Done, Review. Inspired by Scrum OR Purpose, people, complexity and uncertainty.

ToDo

ToDo like this.

Doing

Doing like that.