Value Management and PMOs

I’ve been working on an initiative called “Value Delivery,” which will incorporate value management into our various PMO methods, tools, etc.  These activities are often listed as typical PMO functions, but this really only honored in the breach.  Value management never seems to take off given a PMO’s traditional emphasis on implementing project management methods, tools, training, etc.

In our approach, we will ensure that value management has its own identity, especially when it comes to training.  While value and benefit management is baked into the various program and portfolio standards around, it isn’t part of the typical project manager’s skill set.  Rolling out value management separately should emphasize the organizational and personal changes required to be successful.

What is value management’s objective? To ensure that execution remains focused on delivering against executives’s and stakeholder expectations. How does value management happen? Maybe the best way to illustrate is to briefly lay out the lifecycle we’re using below:

  1. Value Discovery: Establish a performance baseline
  2. Value Realization: Identify required process improvements and KPIs
  3. Value Optimization: Review and steer benefit attainment

Does a leader change only people?

Eric Dana Hansen added a comment to my recent “Manager vs. Leader definition” post.  In it, he refers to a work of his that touches on leadership.  If I’m reading him right, his take is that

management is based upon processes, order, and controls and that leadership is more about developing the potential in others. 

In my comment, I agreed with the first part about management, especially its emphasis on order and controls. However,

I’m don’t buy into leadership being strictly about people….  The reason I like the “Stultz” definition [referenced] in the post is [that] in changing the system, leaders must acknowledge and address all segments of the “people, process, technology” triad.

Also, the blogosphere must be on a manager vs. leader kick.  I just noted a couple of posts by Glenn Whitfield (here) and Andrew Meyer (here) that touch on an interesting dimension of the topic: IT strategy and alignment.

I’ll comment more directly on those tomorrow.

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