Project Portfolio Management, IT Financial Management Blog

Take me out to the ballgame...

 I awoke at the crack of dawn.  No roosters were crowing,  but I had pre-season jitters running through my veins. Today is Major League Baseball’s opening day.  I dug out my favorite team jersey (San Diego Padres for anyone that cares) and put it carefully on.  Yeah, I realize this isn’t the first day of the year for baseball.

Get HP Discount at Gartner PPM & IT Governance Summit!

By Susan O'Connor


HP Software & Solutions is pleased to announce its participation in the upcoming Gartner PPM & IT Governance Summit, taking place June 7-9, 2010 in Orlando, Florida.  We hope you'll consider attending.


Register with priority code PPMHP10 and save $300 off the standard rate.


Attend and meet HP experts:



  • Talk with our experts 1:1 about your challenges and goals

  • Visit the HP booth:

    • See how IT financial management and PPM give you visibility and control at our demo stations

    • Discuss effect strategies to drive consistency, compliance and cost savings with our experts




You will also be able to hear an HP customer discuss their implementation, including benefits achieved and lessons learned.


Register today!

HP PPM and ITFM at Software Universe 2010 - Discount!


By Susan O'Connor, HP Sr. Product Marketing Manager


Join us on June 15-18 in Washington D.C. for a conference about outcomes that matter NOW-to your career, your organization and your business. There are two tracks dedicated to HP PPM Center and HP ITFM solutions. Take a look at the HP Software Universe online session catalog.


Anyone who wants to increase control, transparency and flexibility so that the IT organization delivers more value to the business should attend.


Register with the code INSIDER at www.hpsoftwareuniverse2010.com and get $100 off the conference rate.


Follow us on  Twitter and Facebook feeds for more updates.


 


 


 



 



 


 


 


 


 

IT Financial Management: Getting the information you need today

By Bruce Randall, Senior Manager, HP Products


 


Recently I attended the Financial Planning and Forecasting Summit in San Diego and presented HP's vision for IT Financial Management to Chief Financial Officers (CFO), Controllers and Directors of Finance attending the show. Here are a few observations about the attendees:


1. Only one CIO or IT leader was present in the room out of roughly 100 in total


2. Only one participant operated IT as a business today (Profit/loss), and this attendee was employed by an IT outsourcing business


3. About half of the participants said IT reported to the CFO/Finance


4. Only one-third stated that IT budgets would increase this year, while the majority of the remainder said IT budgets would remain flat


5. I was met with agreement among much of the audience when I stated that demand on IT will continue to increase at a substantial rate regardless of budgets remaining flat


6. According to a recent survey, 40 percent of an organization's capital spending goes to IT - most attendees in the room found that figure to be too low.


7. The only person in the room who was confident that their IT department was capable of providing accurate budget plans uses HP Project and Portfolio Management Center to achieve this goal.


My presentation addressed why IT Financial Management is needed as a discipline and how today's corporate financial systems fall short in meeting the unique requirements of IT. I discussed how IT Asset Management and Project Portfolio Management solutions can address IT Finance requirements. Because these solutions support the entire IT process lifecycle for managing portfolios, programs, projects and assets, they capture right level of granularity needed for strategic and tactical decision-making.


Enterprise Management Associates, an industry analyst firm, authored the white paper "Taming the Elephant: Achieving Financial Management for IT and it provides many of the details my presentation covered. To learn more about HP's specific solution for IT Financial Management, go here.

Why Upgrade? What's the value?

By Jason Waugh, HP Professional Services WW Strategy & Solutions 


Over the past few years I've found that organizations generally embark on project and portfolio management (PPM) tool upgrades without much justification or business case analysis, basing their upgrade primarily on new features, enhancements and extended support.  Then around a year ago, I noticed that organizations were starting to ask "Why Upgrade?  What's the value?"  Business cases were required and the organization was tasked with demonstrating sufficient value to offset the costs of the project (internal resources, consulting, training, etc).


This opened up the question of how to measure the value of these new PPM upgrades compared to older versions?  We asked ourselves the same question and developed an upgrade ROI calculator for HP PPM Center upgrades.  The tool is based on a model that looks at the PPM Center user base, the importance and relevance of each new feature to an organization, and typical tasks handled by different groups of users.  This model generates the expected quantitative benefits with the new version against what is not available in the old version.  This helps companies calculate ROI, expected payback period, and understand areas of greatest impact.


The PPM Center upgrade ROI calculator tool has been launched, and we'd be happy to work with you on using it as you secure funding for PPM Center upgrade projects.  Right now I know that many customers are on the PPM Center 7.1 or 7.5 platforms and looking to upgrade to PPM Center 8.0.  If you're interested in the tool and would like to use it, please contact me.


 

HP PPM Center gains momentum across the enterprise

By Susan O’Connor, Senior Product Marketing Manager, HP PPM Center


Recently I was interviewed by Christina Torode, Senior News Writer at SearchCIO.com, about how HP PPM Center is bringing strategic and operational agility within and outside IT departments. Mark Kresge, acting director, IT Program management office at Mentor Graphics, a key HP PPM Center customer was also interviewed. Mark spoke about how his organization, along with help from Austin, TX systems integrator ResultsPositive, got HP PPM Center running within four weeks. The new system provided Mentor with critical visibility into project requirements, associated resources and tracked progress on each element of a project through the use of real-time dashboards. HP PPM Center is also driving value to business groups outside of IT. According to Kresge, “Our responsiveness has improved simply because of the level of confidence now have in us. They no longer try to cram every aspect of a project into a single request fearing that we’ll never get to another one of their projects.” Check out the article here!   

Enterprise level Project and Portfolio Management: Tips for Success

By Susan O’Connor, Sr. Product Marketing Manager 


Recently I was asked by Keith Casey of ProjectManagementBlog.com to discuss how to ensure a successful roll-out of an enterprise project and portfolio management (PPM) solution.  Below are five key considerations to ensure your initial non-IT PPM implementation can lead to long-term success.   In addition, do download the Forrester Wave™: Project Portfolio Management, Q4 2009 to read how HP is a leader in both IT-and Business-Driven Project Portfolio Management.  




  1. The ultimate long-term relationship:  Secure and maintain executive management support: To gain and sustain project momentum, executives must support the automation of project and portfolio management processes that span multiple business units.






  •  Enterprise projects cross organizational boundaries and touch multiple levels within each business unit.  To keep support from end users, it is critical to understand the value of working with the project and portfolio management (PPM) system.  Executive support and reliance on data from PPM systems quickly and clearly communicates business value.        



  • The most successful customers invariably have had strong C-Level support and engagement. Conversely, those that do not have such support often experience implementations that tend to falter or take longer time to deliver value.



2.  See the forest and the trees:  Gain visibility into the entire corporate project portfolio: Real-time visibility helps you understand how project investments are aligned with corporate goals .




  •  Knowing which projects will add value to the business -- and which will not -- is a quick way to achieve rapid return on investment. The Gantry Group 2008 Benchmark Study of PPM users demonstrated that in just one year, firms that canceled non-strategic projects saved nearly eight percent of their annual IT budget. 



  •  Visibility into the entire portfolio helps show project dependencies and adapt projects and resources when business conditions change.  This ultimately keeps projects on time and on budget. 



3. Standards are your friend:  Implement and automate standard project methodologies: If your organization is going to rely on the information gathered by a PPM system, then likewise, you need to ensure that the data is reliable and credible.




  •  Implementing standard project methodologies will provide much needed consistency to data capture, aggregation and reporting.



  • You can greatly increase project manager productivity by implementing standard project management practices across the organization. Doing so eliminates the need to manually aggregate information from multiple, disparate sources. The Gantry Group 2008 Benchmark Study of PPM users revealed that automating standard project and portfolio management practices decreased time spent generating status reports by more than 30 percent after just one year.



 4.        Keep it simple:  Don’t over engineer your processes!




  • Focus on automating process areas that will deliver the greatest initial value. Stay committed to process simplicity – because this focus will make it easier to implement and adopt a PPM system.  



  •  You need early wins. If you over engineer your processes or try to push the organization past its maturity level, users will abandon.  Again, stick to automating a process that will fix a known organizational pain point – in as few steps as possible. 



5.   Rise and shine:  Measure and communicate (early and often):   Set benchmarks that will show your business executives that the solution is delivering benefits. Remember:  you cannot over-communicate success in the early adoption stages.




  • Determine a metric you’d like to improve. For example, pick improved project timeliness or increased project manager productivity – and make a point of capturing information so that you can report on it to management at intervals that make sense for you. 



  • Establish regular communications with your management team, using real-time reports and dashboards. Use the information as the basis for decision-making. Doing so will help build your credibility, while keeping people informed and discussions more focused on facts and less on emotion.



 

HP is named a leader in Forrester Wave™: Project Portfolio Management, Q4 2009

By Bruce Randall, Director Product Marketing, HP Project & Portfolio Management




Forrester Research recently released The Forrester Wave: Project and Portfolio Management, Q4 2009 and HP was named a leader for its current offering, HP Project and Portfolio Management Center (PPM). Forrester evaluated 14 total vendors. Forrester observed that “HP continues to build out its vision for managing IT like a business with greater emphasis on executive visibility into the impact and cost of IT investments. HP PPM provides depth in managing various types of IT projects and continues to add integrations and features, such as financial management, that support IT management decisions. HP provides additional depth by opening the door for integrations with other HP applications and third-party apps.”




In addition to the product review aspect of the report, Forrester also discusses the importance of project and portfolio management as an organizational discipline. As I mentioned in an earlier post, PPM is a discipline and toolset that not only speeds time to market for new products, but also helps companies find the best and most effective ways to use their limited investment money.  These capabilities will always be key success factors – no matter how the broader macro-economic environment fares.  Forrester Wave’s authors, Margo Visitacion and Tim DeGennaro comment that “In 2009, a down economy forced organizations to cut back on discretionary spending and labor while trying to meet demand that never diminishes. Although the negative aspects of the down economy are hard to miss, the attendant belt-tightening has also opened the door for new opportunities — provided organizations know when and where to focus.”


 I agree. Daily I hear about customers using HP PPM Center for cost optimization but also to shorten product release times – for both internal and external customers.


This report reaffirms the analysis conducted by Gartner and IDC in their respective project and portfolio industry management reports released in 2009. You’ll be able to read the entire report on the HP Project and Portfolio Management home page in the next few days. 


 


 


 


 


 



Search
Showing results for 
Search instead for 
Do you mean 
About the Author(s)
  • Brian is a Product Marketing Manager for Application Development Management Solutions with and previously for Project and Application Portfolio Management, with extensive experience in presales and implementation roles.
  • This account is for guest bloggers. The blog post will identify the blogger.
  • The voice of HP PPM. Keep up with us for all things Project and Portfolio Management.
  • I help IT leaders to understand how well IT is performing from a business perspective.
  • Evangelist for IT Financial Management (ITFM), IT Governance and IT Portfolio Management, consulting IT organisations for Close to 15 years on principles of good governance.
  • WW Sr Product Marketing Manager for HP ITPS VP of Apps & HP Load Runner
HP Blog

HP Software Solutions Blog

Featured


Follow Us
Labels
The opinions expressed above are the personal opinions of the authors, not of HP. By using this site, you accept the Terms of Use and Rules of Participation.