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Archive for the ‘Con Edison’ tag

Just What is a Strategic PMO?

Written by Paul Rosien on September 29th, 2014 at 7:26 am

UMT360’s recent webinar schedule has focused on enabling PMOs to be strategic. Great topics, with some world-class PMO professionals including Learning How to Establish a Strategic PMO with Carl Souchereau from SNC Lavalin T&D, and Changing the PMO Status Quo with Frank La Rocca from ConEd. In fact, we’ve seen so much interest in the Strategic PMO idea that we’ve created a local breakfast series, starting initially in Chicago and Houston.

But we also thought it would be good to step back and define just what makes up a strategic PMO. We reached out to some industry folks to get their views, and one response stood out in particular. Andy Jordan is the president at Roffensian Consulting, and has over 20 years within the portfolio, program, project and PMO space. Andy’s response aligned very closely with our view, and so we thought we’d let Andy share directly! You can reach Andy at andy.jordan@roffensian.com, and we thank him in advance for the guest post! – Paul

Just What is a Strategic PMO?

By Andy Jordan

In the last few years PMOs have been asked to take on much more ‘business critical’ functions. Some have embraced this opportunity, some have not. The idea of a project focused central services style PMO (people, process, tools, training) is rapidly losing favour because it is not delivering business results. Instead, the idea of a PMO more aligned with the business is gaining traction, and that is what PMOs should always have been. A Strategic PMO is a project centric business department and should be structured and managed in the same way as other business departments – goals and objectives set by enterprise leadership that help the organization as a whole succeed. That’s what we expect for sales, or operations, or fill in the blank other department, and that’s what we should expect of PMOs.

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The Power of Regular Portfolio Reviews and Dynamic Reallocation

Written by Mike Gruia on July 18th, 2014 at 11:12 am

During a recent UMT360 webinar covering How to Become a Strategic PMO (see archive here), we found that only 1% have regular dynamic reallocation reviews via automated processes. Another 39% have regular reviews, but require manual, time-intensive efforts to collect and standardize data.

UMT360’s message to PPM practitioners is that this is their opportunity to take the leap to becoming a strategic PMO office by focusing efforts on gaining control of their investments. Annual planning and traditional resource allocation is not enough, as it cannot accommodate the challenges of market complexity and rapid change. Portfolio rebalancing allows organizations to keep their investment priorities in check and optimize the resource allocation and consumption.

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How do you create a strong Enterprise PMO?

Written by Ben Chamberlain on May 19th, 2014 at 1:37 pm

Consolidated Edison’s Frank La Rocca did such a great job setting up an enterprise PMO to handle a $200 million portfolio that the energy company has asked him to do the same for $2 billion of spend.  What made him so successful?  La Rocca understood early on that he had to have the portfolio transparency to know what projects were underway and the financial metrics to gauge their performance.  He had to make changes to ensure he had the information he needed to make smarter portfolio decisions from selection forward.

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UMT360 Gives Utility Financial Intelligence

Written by Ben Chamberlain on January 27th, 2014 at 8:00 am

Frank La RoccaCon Edison’s Director of Financial Governance Frank La Rocca is using Microsoft Project Server and UMT360 to provide financial intelligence across the company’s $2 billion portfolio.    He discussed how UMT360 is helping him optimize the capital spend and drive results during the Microsoft Project Conference in Anaheim earlier this year.  He also shared his governance framework for increasing financial intelligence, building a credible PMO, establishing a ‘sweep process’ to dynamically reallocate capital spend and more.

La Rocca has a sharp understanding of the importance of Portfolio Financial Intelligence.  When he was named VP at a major northeastern utility company, he says the CFO and COO told him they wanted to ensure IT spending was aligned with corporate strategy.  To answer strategic alignment questions, he went in search of information about the total portfolio spend and value but says that information was difficult to come by.

“The answers had to be culled from many different systems and spreadsheets and from interviewing the right people.”

La Rocca says having financial transparency was key to his being able to achieve his team’s goals and support the organization’s overall strategy.  At the Project Conference, Frank discussed financial intelligence, his experience identifying the software that would best help him achieve his goals, and how it is working for him today.

Click the links below to view the series of complimentary UMT360 webinars presented by Frank La Rocca.

Portfolio Financial Intelligence Boosts ROI 
Build a Dynamic Sweep Process to Reallocate Funds 
Benefits Realization – Unleash the Power of the PMO 

PPM & Benefits Realization

Written by Ben Chamberlain on November 20th, 2013 at 4:48 pm

In his recent UMT360 webinar, Benefits Realization:  Unleashing the Power of the PMO, Frank La Rocca, the Director of Business Improvement Services in Con Edison’s Finance Organization, shared a benefits realization framework to effectively track the actual value delivered across the investment portfolio.  To ensure you’re realizing planned benefits, La Rocca said organizations should have a dynamic reallocation process in play.  In a poll conducted during the webinar, 52% of attendees said they currently do not have a reallocation process allowing them to re-evaluate projects during the year and recapture funds which can then be reallocated to new initiatives.   “If you’re finding that you’re leaving money on the table, this is a good way to move money around and perhaps squeeze more juice from the portfolio,” he explained.   La Rocca also said it’s important that organizations be aware of their churn rate, something that 69% of attendees did not know.  His company takes the original portfolio and subtracts the give backs and under-runs, then adds approved increases, over-runs and new projects to come up with a sense of the churn or project work that didn’t happen.   For more on creating a benefits realization framework to improve business results, view Frank La Rocca’s webinar available here.