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The Editor's Desk

EII Publications launched without a hitch. Well without too many hitches. The subscriber list is growing. Sales are beginning to come in. Thanks for your encouragement and support! It looks like we are filling a niche that needed filling. The staff and I really appreciate your comments. Pass the link on to your colleagues so we can add them to the subscriber list.

In recent months I have seen a definite growing interest in project portfolio management. A search of the literature will lead you to only two relevant books. The earlier one is “Project Portfolio Management: Selecting and Prioritizing Projects for Competitive Advantage,” (Lowell D. Dye and James S. Pennypecker, editors, 1999, Center for Business Practices, A division of PM Solutions). It is a collection of papers published elsewhere on a variety of topics related to project portfolio management. As such, it does not offer a process for project portfolio management. The more recent publication is “Project Portfolio Management: A Practical Guide to Selecting Projects, Managing Portfolios and Maximizing Benefits" (Harvey A. Levine, 2005, Jossey-Bass). That book is reviewed below in this newsletter so I will refer you there for further details. You might also want to refer to the white paper written by John Nevison entitled “An Economic Look at the White Collar Project Portfolio” (electronic; print).

If I can use my clients as the barometer you would conclude that organizations have reached a point in the project maturity where they are expecting some return on their investment. Not only the investment in the projects themselves but also the investment in the methodology, tools, templates, and processes that support those projects. Rather than focusing on single projects they are turning their attention to the portfolio of projects they support. Thinking of that portfolio as you would any investment portfolio, the focus is on selecting the projects that will bring the greatest return to the organization. For the investment portfolio there is only one metric – money. For the project portfolio there are several metrics, money being only one of them. Organizations also have to worry about market position, product mix, customer satisfaction, and others. Project portfolio management is a complex area and we are only beginning to understand it.

Robert K. Wysocki

Editor, EII Publications and President, EII, Inc.

Eye on the Industry

The Agile Project Leadership Network (APLN) was formed less than one year ago. It was formally announced last July at the Agile 2005 Conference in Denver. Jim Highsmith serves as the president of APLN.

APLNs primary purpose is to bring together professionals of like interest in the agile and adaptive project management space. The founding members of APLN have issued a Declaration of Interdependence which is reproduced below.

DECLARATION OF INTERDEPENDENCE

WE INCREASE RETURN ON INVESTMENT

by making continuous flow of value our focus.

WE DELIVER RELIABLE RESULTS

by engaging customers in frequent interactions and shared ownership.

WE UNLEASH CREATIVITY AND INNOVATION

by recognizing that individuals are the ultimate source of value, and creating an environment where they can make a difference.

WE EXPECT UNCERTAINTY

and manage for it through iterations, anticipation, and adaptation.

WE IMPROVE EFFECTIVENESS AND RELIABILITY

through situationally specific strategies, processes, and practices.

WE BOOST PERFORMANCE

through group accountability for results and shared responsibility for team effectiveness.

©2005 David Anderson, Sanjiv Augustine, Christopher Avery, Alistair Cockburn, Mike Cohn, Doug DeCarlo, Donna Fitzgerald, Jim Highsmith, Ole Jepsen, Lowell Lindstrom, Todd Little, Kent McDonald, Pollyanna Pixton, Preston Smith, and Robert Wysocki

If you are interested in joining APLN or would like additional information, visit their web site.

SPECIAL INSERT: Reader's Comments

Often our readers have comments about our publications or useful information to share with others in the profession.

In some future editions, we may feature articles on these types of correspondence. If you would like to contribute any comments, let us know.

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Just Published

The following publications have just been added to our inventory this month.

You may purchase electronic or printed versions through our Store.

Estimation with Use Cases: A Simple and Effective Approach to Estimating Software Projects
by Jon Porter
ISBN 1-933788-24-0 (Electronic)

How to Obtain and Sustain Meaningful Client Relationships
by Robert K. Wysocki, Ph.D.
ISBN 1-933788-10-0 (Electronic)
ISBN 1-933788-11-9 (Print)

Project Intervention Strategies
by Robert K. Wysocki, Ph.D.
ISBN 1-933788-12-7 (Electronic)
ISBN 1-933788-13-5 (Print)

Understanding Scheduling: How to Build a Project Schedule That is Reliable and Robust
by John M. Nevison
ISBN 1-933788-20-8 (Electronic)
ISBN 1-933788-21-6 (Print)

Many books have also been added to the EII Publications inventory this month. Order these books through our affiliate on our web site.

Under Development

These publications are scheduled for future development. You may advance order electronic or printed versions through the Store.

Estimation with Use Cases: A Simple and Effective Approach to Estimating Software Projects
by Jon Porter
Available in March 2006
ISBN 1-933788-25-9 (Print)

How to Build a Complete Work Breakdown Structure
by Robert K. Wysocki, Ph.D.
Available in March 2006
ISBN 1-933788-08-9 (Electronic)
ISBN 1-933788-09-7 (Print)

How to Establish a Project Support Office: A Practical Guide to Growth and Development
by Robert K. Wysocki, Ph.D.
Available in March 2006
ISBN 1-933788-18-6 (Electronic)
ISBN 1-933788-19-4 (Print)

The Requirements Breakdown Structure: A Practical Tool for Effective Project Management
by Robert K. Wysocki, Ph.D.
Available in March 2006
ISBN 1-933788-26-7 (Electronic)
ISBN 1-933788-27-5 (Print)

SPECIAL INSERT: Book Review

PROJECT PORTFOLIO MANAGEMENT:
A Practical Guide to Selecting Projects, Managing Portfolios, and Maximizing Benefits
by Harvey A. Levine
Foreword by R. Max Wideman

In his new book, Harvey A. Levine, a prolific project management writer and consultant, demonstrates how Project Portfolio Management (PPM) has served to bridge the gap between the projects and operations functions of the enterprise. He notes that PPM has emerged as a hub for the many processes involved in making sure that the selected projects are aligned with business strategies and lead to the realization of the maximum benefits that can be derived from the organization’s limited resources.

In Project Portfolio Management, it is assumed that the enterprise, via the selection and execution of projects, positions itself for increased strength and profitability as well as assuring that the firm continues to thrive in a world of constant change and the threat of competition.

Levine does not claim that the basic elements of Project Portfolio Management are entirely new. However, before the emergence of Project Portfolio Management, as a defined discipline, these elements were the responsibility of two distinct groups: Operations Management and Projects Management. Each group had its specific role.

Read the complete book review >>

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