By Lauren Clark-Oracle on Apr 09, 2012
Taken your pulse lately? Recently, PMI released their 2012 Pulse of the Profession which contains five key findings based on the results of their global survey:
- Tight economic conditions will continue to force the issue of strong project portfolio management.
- The desire for organizational agility will also lead to increased use of iterative and/or incremental project management methods such as agile and extreme.
- As organizations continue to strive for agility, change management and project risk management will become even more important.
- Organizations will renew their focus on talent development as they look to grow and gain competitive advantage in new markets.
- Despite tight economic conditions, organizations have been and will continue to increase their focus on benefits realization success metrics.
Since of PMI’s 2012 key findings are highly relevant to the ever expanding Oracle ecosystem, I thought it would be beneficial to put together a series of blog entries to discuss each of PMI’s key finding in the context of OUM. Through the entries, I hope you find some useful tips and techniques you can apply to your projects right away.
Let’s jump into Key Finding #1: Tight economic conditions will continue to force the issue of strong project portfolio management, which is defined by Wikipedia as “methods for analyzing and collectively managing a group of current or proposed projects based on numerous key characteristics.”
We all know there has never been a time when organizations intentionally threw money away on frivolous projects. During times of constrained and uncertain economic conditions, it is even more critical to make sure money is allocated to projects and programs which will provide the most business value and highest return on investment. When guidance is needed for project identification and prioritization, we look to where projects are born in OUM: The Envision Focus Area.
The Envision Focus Area comprises the areas OUM that deal with development and maintenance of enterprise level IT strategy, architecture, and governance. Every project that affects an organization’s IT landscape should have its origins here. Envision also assists in the transition from enterprise-level planning and strategy activities to the identification and initiation of specific projects further supported by the Manage and Implement focus areas.
I think the Envision Focus Area is one of the areas that make OUM unique in that it addresses the business at the enterprise level, rather than just at the tactical project level. You can read more about the Envision Focus Area and its touch points to the Implement and Manage Focus Areas in the OUM Overview section, as well as by reading the detailed content in the Envision view itself.
This brings us to the Manage Focus Area, which is the standard framework and reference guide that provides a consistent and repeatable approach for managing Oracle-related information technology projects. The Manage Focus Area includes guidance for managing both projects and programs. While there is no substitute for good project management skills, Manage is essentially a tool that can be used to facilitate and support the program or project management process. For more details about Manage and its relationship to Envision and Implement, check out the OUM Overview section and the in-depth guidance found in the Manage view.
Stay tuned for the next blog entry in the series which will focus on PMI’s Key Finding #2: The desire for organizational agility will also lead to increased use of iterative and/or incremental project management methods such as agile and extreme. In the meantime, please provide your feedback on your experience with the Envision and Manage Focus Areas.