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The Power of Regular Portfolio Reviews and Dynamic Reallocation

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.

This is a major shift, requiring the transformation of resource allocations from a static to a dynamic mode. The opportunity is high for PPM practitioners to take a new business driven approach, to take a leadership roles as they respond to internal or external changes in plans or disruptive threats and opportunities.

PMO and IT professionals can learn from pioneers like Carl Souchereau, Project Director with SNC Lavalin, who spoke in the webinar mentioned above, and Frank La Rocca from Consolidated Edison. Frank adopted agile resource allocation practices, including monthly reviews of project performance and the dynamic reallocation of resources based on those reviews and have proven to be highly effective for the utility. Frank conducted a similar webinar, and we encourage you to learn more about his experience with ConEdison here.