Project Management Practice, Project Planning, Project Scheduling

Managing Uncertainty – A Foundation Stone of Project, Program and Portfolio Management

| | Leave a comment

Implementing EPM solutions brings the PF Team into close contact with dozens of organisation’s PM groups and hundreds of PM professionals every year. One thing we discover time-and-again is that the key problem, often frustrating attempts to gain control of initiatives, is an inability to plan effectively and to deal successfully with the “unknowns” or uncertainties that planning encounters.

In general, PF’s customers are not dealing with environments of extreme uncertainty where a learning-by-doing approach might be required as a substitute for the efficient execution of plans. In fact, in most clients, projects are operating within the context of programmes and portfolios and it is desired and expected that project execution will proceed, as far as possible, in line with plan. Naturally so, as projects which execute far out of tolerance introduce considerable turbulence into Programs and Portfolios which greatly hamper their success.

Importantly too, although often unrecognised, such projects also hamper attempts to maximise strategic alignment and hamper efficiency by undermining the introduction of important organisational competencies such as Resource Management for example. Continue reading >>