PMI Keystone Chapter - Virtual Monthly Event - April 2021 - York Managed
TOPIC: Project Control Techniques for Value Optimization and Recovery
When projects and programs are managed as investments rather than cost centers, we view optimization, recovery, and even initial planned resources differently. With the growing focus on benefits management, adding a true “value” metric to project control techniques captures the impact of project schedule, cost, or scope performance on the expected benefits. Optimization of value is also the key to justifying enabling resources needed to recover or optimize project delivery or to enhance an organization’s project management capability and effectiveness. This presentation focuses on coupling traditional project control metrics such as CPI, SPI, and critical path management with value-based metrics in the program business case (i.e., the “V” in NPV). The presentation will discuss:
- Conducting projects and programs as investments - the organizational value impacts of projects and programs
- Linking projects to the value they leverage (benefits realization)
- Strategy for project value recovery/optimization
- Project control - effective use of earned value (cost/effort based) & TCPI; critical path drag; float/slack burn rates
- Devaux's Index of Project Performance (DIPP)
- Examples in practice/ case studies
- Discussion and questions
PRESENTER: Joe Sopko, PMP, MSP, P3O, OPM3
Joe Sopko is an independent organizational project management improvement consultant and a joint recipient of the 2013 Shingo Prize Research Award as a contributing author to The Guide to Lean Enablers for Managing Engineering Programs.
For more than a decade, Joe has had considerable involvement in organizational project management maturity models, PMO development, program management and business improvement initiatives. He has been an active participant and core team member in the development, review and practical application of PMI’s OPM3® Standard, AXELOS (UK) Managing Successful Programmes (MSP) and most recently as the committee vice chair for the PMI Standard for Organizational Project Management. Joe has also authored several papers regarding the practical use of program management and multiple maturity model approaches as an enabler for PMO development, value delivery and in improving organizational project business excellence.
TALENT TRIANGLE: 1 PDU – (0.5 Strategic/Business Management & 0.5 Technical)