Part 1: Do the right job
How do you prioritize your work. Are you able to use a process to determine what is most important or which tasks are the most time-consuming? If the answer is no, keep reading. And if “yes”, there’s always room for improvement. You might be surprised at what you discover below.
Let’s first acknowledge that it can be difficult to establish a successful prioritization process when your team and PMO are in high demand.
According to PMI’s 2018 Pulse of the Profession Report, while 87 per cent of PMO directors consider such processes “very important” or essential, only 12 percent say they are “excellent” at prioritizing projects. [1]
This disconnect highlights the difficulty PMO directors have in identifying and implementing an effective prioritization process. We have compiled a list of steps that will make this process easier.
Keep this in mind
No matter how well you score and prioritize work, you should still be able to look at each project or initiative and answer one critical question:
“What is the true value or benefit of this work? How important is it relative other projects and initiatives?” [blockquote]
You must be able and willing to constantly improve your PMO to achieve the best business outcomes. Even though your current process may seem efficient, there is always room to improve. Simply follow the four steps we will describe in this blog series. Let’s begin with the first step.
1. Be confident
Prepare to prioritize–effective prioritization and scoring requires two things:
An established process; and
Just enough governance that involves the right people, timings, criteria, and methods.
A checklist is a good idea for a Savvy PMO to use when assembling the right people for effective prioritization. Include the following elements: who, what and when.
Let us help you get started by providing a checklist below that identifies each element.
Who will have a say on the prioritization process
You are confident in your ability to evaluate prioritization drivers and make objective decisions as a Savvy PMO. You will need to identify those who are qualified to evaluate these prioritization drivers. This should include stakeholders from other departments and teams.
What are your priorities?
These criteria must be based upon your company’s business goals. Leadership buy-in is crucial. Consider financial criteria (ROI, NPV and Expected Cost), as well as financials. ), business objectives (strategic alignment and customer focus, risk reduction etc. ), and driving factors such as complexity, efficiency, legal compliance, etc. ).
What is the best time to prioritize?
The “once-a year” prioritization exercise is no more realistic. You should establish a prioritization plan from the beginning that is driven by the nature and involvement of stakeholder. Smart PMOs are able to constantly evaluate and adjust their priorities to meet changing business needs.
How can you combine work to best serve evaluation and prioritization?
What is your scoring frequency?
Annually/Quarterly–focus on key initiatives or large projects. Your organization can use scoring to help you understand and document the relative importance and significance of strategic projects and initiatives. The benefits? Improved prioritization and the implementation of a baseline for evaluating new works.
Monthly, or more often–Savvy PMOs are constantly changing. They are able to continuously iterate, revise assumptions, and adjust as necessary. The organization can adapt faster to new information and demands and exploit emerging opportunities by prioritizing work requests and prioritizing them regularly.
Ad Hoc or ongoing – With any ad-hoc requests, PMOs determine whether a project is a success.
