A Husband and wife go shopping. The husband picks up 24 cans of beer for £10, and his wife asks to put them back for they can’t afford it.
On the next aisle his wife picks up a face cream for £20. The husband asks ‘why do you need face cream?’, and the wife reminds him that it makes her look beautiful. The husband replies ‘so does the beer, and it’s half the price!’
There has to be ‘some’ truth in the above tale… How many times does an organisation go with an idea, that is expensive, has been well packaged and sold to them, so they convince themselves that it is the only way.
PMO’s working at a portfolio level, often fall for the trap of prioritising a list of projects, but in most cases the issue lies with every project being accepted in some way. The result is every project going on ‘the list’ and its a matter of the order which those projects appear on ‘the list’.
Sooner or later, the sponsor of that ‘lower priority’ project either forgets about it, or submits it under a new name!
Prioritising projects is important, and a role the PMO should be part of in facilitating a decision. But, the PMO can really add value if they took the process back a stage, and facilitated the management thinking in getting right solution to a problem or opportunity that REALLY exists… Don’t let the business come to the PMO to prioritise projects, instead, go to the organisation and state where there are ‘gaps’ in achieving strategic objectives, and facilitate the brainstorming of ideas to help plug the gaps. Using simple techniques like PESTLE, Return on Investment, Cost / benefit (using NPV%) or whatever the organisation feels us most suitable for them, will help. Prioritisation will be easier, more effective, and have greater success in getting people behind the right projects.
Some organisations are often sold face cream, yet face cream has not had the scientific testing rigour to prove it really works, but, its packaged well, looks great, and people believe it works…. Trust me…. Sometimes beer works better!! 😉
Face Cream – enjoy the show below…..