Lots of people talk about the difficulties of getting executive leaders to understand what they will get and see from adopting portfolio management. During a recent conversation on the P3O Linkedin Group I mentioned the use of a Value Experience Plan. Before I start this blog, as far as I am aware this is a new term and therefore, as with the discovery of any new star, from this day forth I shall egotistically refer to it as Craig’s Value Experience Plan
I created Craig’s Value Experience Plan as i was implementing portfolio management across an organization, i found it a really useful tool which helps executive leaders to understand the value they will experience prior to the implementing of portfolio management. I’ve since used it a lot for when implementing benefits management too, however it can be used for any situation. Here’s some questions answered.
What is Craig’s Value Experience Plan: It is a one pager that can be given to a stakeholder, it will help them understand the value they will experience ahead of the implementation of portfolio management or a portfolio office, or anything for that matter. It also shows what products drive that experience and the supporting key activities that need to take place. For those of you into performance measures, you can include a Happiness Indicator if you wish (I always do).
Why is Craig’s Value Experience Plan really useful? Implementing portfolio management across an organisation is a complex, delicate and very tough thing to do. For a lot of people it is new way of operating and some people will be expecting nothing more than a new collection of acronyms (which is exactly what they will get if the wrong person is leading this). Furthermore, we have to consider basic human nature, in that people want to know what bang they will get for there buck, so this helps people to see and feel the bangs before they get involved in portfolio management…good times!
Who uses Craig’s Value Experience Plan? Any stakeholder can use it, although I normally use it with Executive Leaders because I don’t believe in “selling portfolio management”, indeed I detest that phrase. I much prefer to show people the future so they can actually see it, feel it and ask questions about it. If you do it right, Executive Leaders will want portfolio management because they will understand the ‘bang’, because the “bang” is common sense i.e. understanding what your most important projects are. If you are feeling extra creative, you could back it up with Blueprint and make it even more powerful (I will blog about portfolio blueprints shortly)
Can I use Craig’s Value Experience Plan?
Yup, just for you lucky folk, I’ve added an example to my slide share account which you can download and useright away. I’ve included the Portfolio Management one and the benefits management version, which I am very proud to say has been included in the APM’s forthcoming best practice on Benefits Management written by Stephen Jenner.
I’d be very interested to hear your thoughts on how you develop an understand at executive level, also if you used Craig’s Value Experience Plan let me know how it went down in the comments below.
15 nov: i think wordpress is playing up so if all you can see is a black blob below where the presentation should be click here to view it on slide share