Case Study: Enhancing Organisational Portfolio Project (PPM) Maturity for Smart Innovations Global LCC

Project Background:

As a budding Portfolio Management Professional, you have been an integral part of a multinational Artificial Intelligence technology corporation' Smart Innovations Global LCC' with a vision of "enabling the use of Artificial Intelligence in the field of portfolio, program project management" that has grown substantially globally. The organisation is grappling with using traditional project management practices versus the Agile methodologies.

In a recent strategic planning meeting, the board of directors of Smart Innovations Global approved three strategic objectives and the OKRs and their corresponding Key Performance Indicators (KPI's) with a portfolio roadmap spanning across three years the roadmap will be reviewed bi-yearly due to the dynamic market conditions.

Strategic Objective 1: Enhance Operational Efficiency through AI-Driven Project Management

Objective Key Results 1 (OKR): Improve operational efficiency by implementing AI-driven solutions across project management processes.

Task Automation Implementation

KPI 1: Achieve a 40% reduction in time spent on routine tasks by implementing AI-based automation within six months.

KPI 2: Attain a 30% decrease in manual errors related to repetitive tasks through AI automation within the first quarter.

Risk Prediction and Mitigation

KPI 3: Identify and mitigate 80% of high-risk issues before escalation using the AI-based risk prediction system within three months.

KPI 4: Increase accuracy in risk identification by 50% compared to previous manual methods within the first five months.

Resource Optimisation

KPI 5: Achieve a 20% increase in resource utilisation across projects through AI-driven optimisation within four months.

KPI 6: Reduce resource allocation conflicts by 60% within the first six months of implementing the AI-based resource optimisation tool

Over the year, the company has formulated a Portfolio for AI-Enhanced Project Management Solutions. It has business cases approved for the three projects and is in the execution phase, including but not limited to the addition of more projects in the Portfolio for AI-Enhanced Project Management Solutions mix.

(1) Project A: AI-Powered Task Automation

(2) Project B: AI-Enabled Risk Prediction and Mitigation

(3) Project: C: AI-Powered Resource Optimization

The projects are executed across three regions (USA, UK and Australia), showcasing moderate success in individual project deliveries. However, as Smart Innovations Global continues to grow and diversify its operations and plans for further expansion in Asian countries, it faces a pressing challenge - the absence of a structured and cohesive approach to managing its diverse portfolio of projects.

While the company boasts a Project Management Office (PMO) in place, it has become increasingly apparent that there is a significant gap in the implementation of project portfolio management practices due to the PMO being a part time work of the enthusiastic project managers and lacking formal approaches.

This gap has resulted in inconsistent project success rates and hindered the effective delivery of value derived from these projects. Despite each project being handled with relative competence, the lack of a unified strategy for managing the collective portfolio has led to missed opportunities for synergies, resource optimisation, and strategic alignment.

The absence of a coherent portfolio management approach has further amplified challenges in aligning individual projects with the overarching strategic objectives of the organisation. Projects have been initiated without a comprehensive evaluation of the company's long-term goals, often misallocating resources, time, and effort.

While functional in overseeing individual projects, the PMO lacks the infrastructure and framework necessary for holistic portfolio management. This deficiency has been identified as a critical factor contributing to the inconsistency in project success rates and the company's inability to fully capitalise on the potential value derived from its project investments.

Smart Innovations Global recognises the urgent need to bridge this gap in project portfolio management practices to achieve greater synergy, strategic alignment, and ultimately, enhanced value delivery.

As a new Portfolio Manager within the organisation, you have been entrusted with the responsibility of spearheading this organisational wide transformational initiative to establish a robust Project Portfolio Management framework that will harmonise the management of projects with the strategic objectives of the organisation and enhance the PPM Maturity Levels using OPM or P3M3 or Praxis Maturity or any other relevent assessment frameworks.

This refined background sets the stage for a more detailed understanding of the challenges faced by the organisation in managing its project portfolio. It emphasises the critical role of the Portfolio Management Professional in addressing these issues through the implementation of effective portfolio management practices.

TASK

WRITE AN INTRODUCTION

EXECUTIVE SUMMARY

VISION

MISION

CORE VALUES

STRATEGIC OBJECTIVES

SWOT ANALYSIS

TOWS ANALYSIS

PESTEL ANALYSIS

CURRENT ORGANISATIONAL STRUCTURE

PORTFOLIO, PROGRAM,PROJECT BREAKDOWN STRUCTURE

PORTFOLIO ROADMAP

PMO LEVELS AND TYPES

OPM3 MATURITY ASSESSMENT

CAPACITY AND CAPABILITY MANAGEMENT

BENEFIT MANAGEMENT

VALUE MANAGEMENT

CHANGE MANAGEMENT

RISK MANAGEMENT

PROPOSED ORGANIZATIONAL STRUCTURE

PMO TYPE

ORGANIZATIONAL GOVERNANCE

ORGANIZATIONAL MATURITY

CAPACITY

CAPABILITY

VALUE MANAGEMENT

CHANGE MANAGEMENT

RISK MANAGEMENT

CONCLUSION

REFERENCES