Project Pipeline Management
Your organisation has plenty of ideas, concepts and proposals coming through, but how do you filter through the good ideas and find the golden nuggets that can take your organisation’s strategy to the next level. Many organisations make the mistake of approving a lot of projects under the common assumption that more projects = more progress.
If you’ve been around long enough, you know that this is far from the truth. The biggest challenge from organisations is not simply executing projects, but making sure that the right projects are being selected to fully optimise your portfolio and fulfil strategic objectives. There's the additional issue that you have all these ideas selected and ready to go, but your handover process to the project execution teams is convoluted because everyone is using different softwares and systems.
Without the proper structures, processes and systems to filter through ideas and projects, organisations often end up investing far too many resources into ineffective projects and find out far too late to pull out.
These issues are precisely what pmo365 can solve for your organisation.
These issues are precisely what pmo365 can solve for your organisation.
Simplifying your idea gathering process through proper implementation of the Ideas App.
Providing critical tools throughout the entire pipeline process to help define and calculate costs, risks, benefits and much more - all on one platform. We also have tools that directly help decision makers triage and prioritise the projects according to their defined parameters.
Streamlining your approval processes through automated decision-gates also giving stakeholders complete visibility over the approval processes and accountabilities.
Integrating systems across the entire organisation to allow for smooth and fuss-free handover between ideation stages to project management frameworks.
Project Pipeline Management is a fundamental component of project portfolio management that has the core function of ensuring the right projects are selected. The entire process involves steps that ensure the right number of projects are generated, evaluated, selected and screened at various stages of the intake process that are aligned with the organisation’s strategic objectives.
The project pipeline occurs before the initiation stage of any project management framework. Its key purpose is to filter through the multitude of ideas before it even makes it to the initiation stage (where the business case for a project is made) to minimise the amount of resources wasted in building justifications for projects that would quickly be rejected.
What’s important to note is that there is no one-size-fits-all approach to pipeline management. Depending on the size and needs of an organisation, the project pipeline process can either have more or less stages or ‘gates’ through which it can be filtered. At pmo365, we want to make sure you have the right tools, processes and systems to suit your organisation's unique context and needs.
Like we said before, there is no one-size-fits-all process or framework for project pipeline management. However, there are 4 common components most approaches will possess: ideation stage, opportunity management, a work in-take processes and decision gates.
Ideation is the process through which new project ideas are made. This stage is important as it is where ideas are first gathered to later be filtered through. Typically during any ideation session it is important to lay out the ground rule: no idea is a bad idea. This is to encourage out-of-the-box thinking, collaboration and engagement with employees. However, without a proper system, it is hard and sometimes impossible to translate that idea into a digitised approval system.
At pmo365, we help simplify this whole process for you through the application of the Ideas App which takes your whole brainstorming process into the digital space and optimises everything to make sure the best ideas are being highlighted and selected.
Sometimes there are amazing ideas but it may not be the right timing or there may not be enough resources to execute it right away. Don’t just let those amazing ideas be forgotten or lost!
Opportunity management processes are similar to risk management processes but instead of highlighting events that can negatively impact the organisation, it highlights potential future positive outcomes for the organisation. Proper opportunity management processes help prioritise ideas and potential proposals that can have the best impact on the business strategically. Without a proper opportunity management process, organisations run the risk of losing visibility over potentially groundbreaking ideas.
Your organisation may have plenty of ideas flowing in, but you don’t want to be completely inundated with ideas coming from 15 different sources. Without a work in-take process, it becomes nearly impossible to track progress and work because there is no ‘single source of truth’.
Work in-take refers to the process of creating project proposals in a standardized manner to then bring to the governance board for a decision. This is often used in conjunction with ideation and stage-gates to ensure consistency across the entire process. This not only makes visibility and integration with other processes within the organisation easier, but it can reduce organisational confusion, time delays and resource wastages.
pmo365 supports this process not only for your project pipeline management but for your organisation as a whole through our project governance capabilities.
Decision gates act as review points for assigned oversight to make sure projects are aligned with preselected strategic criterias which allows them to pass into the next stage of approvals.
However, there are two common issues organisation’s face in regards to decision gates. Firstly, many systems require managers to manually identify and list down all the objectives and approvals that need to be completed at every stage. For large-scale organisations with hundreds of ideas flowing through, this is simply impractical. Secondly, the reviewing and approval process alone can often be time consuming and unnecessary. Employees often have to arrange meetings or send an email into the already overflowing inboxes of managers to attempt to get an approval. And let’s be honest, some of these reviews would have only needed a 5 minute glance and a few clicks of a button.
pmo365 directly addresses these two issues. Our system automatically lays out all the recommended objectives that need to be approved at every gate. It also clearly presents all the relevant information in real-time and allows you to give approvals at a click of a button. So say goodbye to unnecessary meetings, bothersome scheduling and lengthy emails. We make all your approvals and communication happen on one platform.
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