Which phases does the PPM process consist of?
Project Portfolio Structuring
Resource Allocation
Project Portfolio Steering
Value Realization
What are the objectives of the Project Portfolio Structuring phase?
Selection of project portfolio
Transfer company strategy to project portfolio and make an optimal project selection regarding value potential and the exploitation of synergies.
What are the objectives of the Ressource Allocation phase?
Allocation of necessary resources
Implement goal project portfolio regarding (human) resources, utilize the available capacities ideally and secure long-term capacity to act.
What are the objectives of the Project Portfolio Steering phase?
Project portfolio analyses & reporting
Create transparency through continuous monitoring of the project portfolio in order to react flexibly to changes and to realize synergies and opportunities through coordination of projects.
What are the objectives of the Value Realization Steering phase?
Benefits assessment & securing knowledge
Secure usage and exploitation of project benefits by the project customers and secure generated knowledge acquired in projects for the organization.
Illustrate different classical portfolio approaches!
What does Stage-Gate do?
Stage-Gate standardizes the innovation process to improve control.
With the Stage-Gate process decisions can be made at the project and portfolio level
What are the goals of the Stage-Gate Process?
• Recognize and terminate non-successful projects early
• Reduce error rates
• Increase effectiveness -> developing the "right" products and services
• Increase efficiency (with a minimum of resources)
• Better documentation and process controlling
• Learn from experience (from previous projects)
• Strengthen communication between departments and team members by establishing a shared understanding
What is the fundamental concept of the Stage-Gate Process?
• Subdivide the innovation process into a defined set of discrete and identifiable phases (Stage)
• Each phase contains a set of prescribed, interdisciplinary and parallel activities
• A gate forms the end of each phase
• The gates control the process and represent quality inspections: decisions about the further process
• Gates have a uniform structure and consist of three main elements: deliverables, criteria, outputs
Illustrate the elements of the Stage-Gate process!
What are stages in the Stage-Gate process?
• Gather information in order to minimize project risks
• Reduce uncertainty faster than costs increase
• Activities run in parallel and are carried out by an interdisciplinary team
• Each phase is cross-functional: no department is responsible for its own phase but interaction is required
What types of gates exist in the Stage-Gate Process?
Deliverables
Criteria for Evaluation
Outputs
What are Deliverable Gates?
Results of completed activities, visible and standardized
What types criteria for evaluation for gates in the Stage-Gate Process exist?
Must-criteria (knock-out questions (checklist))
Can-criteria (prioritize projects with a score system)
What are output gates in the Stage-Gate Process?
Decision (Go/Kill/Hold/Recycle) + action plan for the next stage (time limit and released resources) + set deliverables for the next gate
What single project decision can be made with the Stage-Gate process?
Pass / Kill
Comparison of the project with must and can criteria.
Does the scoring of the project overcome the gate?
What single portfolio decision can be made with the Stage-Gate process?
Priorization:
Overall score of the project compared to active projects and projects on standby. Resources are distributed.
What are reasons for using Gates?
Inability to make tough decisions and focus resources
- Longer time to market
- Poor execution quality
- Tasks in the initial phase are not fulfilled
- Correct market inputs missing
- Uncertain and vague product definitions
- Market launches are mediocre
-> High error rates
-> Long throughput times
-> Low profits
What are characteristics of good gates?
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