using reviews and assurance to manage portfolio and programme risk

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Using Reviews and Assurance To Manage Programme and Portfolio Risk Graham Oakes (graham @ grahamoakes.co.uk ) December 2013

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Projects are risky activities. We take on a managed level of risk in order to achieve defined rewards. It's therefore not surprising that some projects fail — completely eliminating failure would be a sign that we're being too risk averse. Problems arise when the level of failure across our program or portfolio is not commensurate with the desired risk/reward profile. Project reviews and assurance can be a very useful tool to help monitor risk levels across our portfolio, and hence to identify and mitigate the risks which are not being managed effectively. This talk looks at some factors you should consider when setting up an assurance programme.

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Page 1: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Using Reviews and Assurance

To Manage Programme and Portfolio Risk

Graham Oakes ([email protected]) December 2013

Page 2: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Outline

• Projects fail

• That’s OK

• Portfolio mgt is easier than project mgt…

• … provided you can get the right information

• Setting up an assurance programme

Page 3: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Why do projects fail?

Simon Schoeters

Page 4: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Christiaan Triebert

We lose touch with reality

Page 5: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Simon Schoeters

Failure becomes obvious when we run back into reality

Page 6: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Failure is OK!

L Gnome

Page 7: Using Reviews and Assurance to Manage Portfolio and Programme Risk

There are 2 types of failure: Inherent & Unnecessary

macrophile

Page 8: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Statistics don’t work for project managers

Steve A Johnson

Page 9: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Statistics do work for portfolio & programme managers

James Bowe

Page 10: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Portfolio & programme managers have more tools

veryuseful

Page 11: Using Reviews and Assurance to Manage Portfolio and Programme Risk

But they often don’t have the information they need

Jeroen_bennink

Page 12: Using Reviews and Assurance to Manage Portfolio and Programme Risk

The role of assurance is to provide validated information

owenwbrown

Page 13: Using Reviews and Assurance to Manage Portfolio and Programme Risk

How do we set up an effective programme of reviews?

Colin_K

Page 14: Using Reviews and Assurance to Manage Portfolio and Programme Risk

1) Make reviews the norm

Lars P.

Page 15: Using Reviews and Assurance to Manage Portfolio and Programme Risk

2) Be clear who you’re serving

Bird Brian

Page 16: Using Reviews and Assurance to Manage Portfolio and Programme Risk

3) Tune investment to risk levels

digitalmoneyworld

Page 17: Using Reviews and Assurance to Manage Portfolio and Programme Risk

4) Use a mix of review types

vie_ascenseur

Page 18: Using Reviews and Assurance to Manage Portfolio and Programme Risk

5) Negotiate clear objectives for each review

Richard_of_England

Page 19: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Recommendations to improve review artefacts

Review execution

Inputs

Artefacts & otheritems to review, plus supporting details.

Outputs

Improved artefacts.

Go / No - go decision.

Baseline Criteria Reference Models

Control parameters

Feedback to improve reference models

Analysis Loop

6) Run a structured process

Simon Schoeters

Page 20: Using Reviews and Assurance to Manage Portfolio and Programme Risk

7) Focus on evidence

Simon Schoeters

Page 21: Using Reviews and Assurance to Manage Portfolio and Programme Risk

8) Manage logistics

strudelt

Page 22: Using Reviews and Assurance to Manage Portfolio and Programme Risk

9) Minimise overheads

jcroninone

Page 23: Using Reviews and Assurance to Manage Portfolio and Programme Risk

10) Train people

One Laptop per Child

Page 24: Using Reviews and Assurance to Manage Portfolio and Programme Risk

11) Act on findings

mikebaird

Page 25: Using Reviews and Assurance to Manage Portfolio and Programme Risk

12) Monitor effectiveness

SearchEnginePeopleBlog

Page 26: Using Reviews and Assurance to Manage Portfolio and Programme Risk

13) Disseminate lessons learned

The U.S. Army

Page 27: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Assurance supports stakeholder communications

Keoni Cabral

Page 28: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Summary

• We engage with risks to achieve rewards

• Sometimes the risks win

• Aim is to eliminate unnecessary failure

• Program & portfolio mgrs have a lot of tools

• They need information in order to use them

• Reviews & assurance provide this information(provided they’re set up appropriately)

Page 29: Using Reviews and Assurance to Manage Portfolio and Programme Risk

Unnecessary Failure…

… happens when people with the skills, resources and authority to act effectively don’t

get full, validated information about project status and issues.

The role of reviews and assurance is to provide this information.

Page 30: Using Reviews and Assurance to Manage Portfolio and Programme Risk

35

Thank You

[email protected]@GrahamDOakes