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P3 Leader
The newsletter for Portfolio, Program and Project Leaders
November 2010 A Hendon Group Publication |
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Greetings!
The focus of the November 2010 edition of the P3 Leader is Portfolio Management. We hope you find our featured article of interest and provide you some ideas that you can use immediately to assist you with your daily activities.
You will also find a new section in our newsletter..."P3 Calendar." Many of our readers travel for business on a regular basis. We have included a listing of some events around the country Portfolio, Program and Project Leaders may find of interest.
Hendon Group would like your feedback on the articles contained in in our newsletters. We would also like your suggestions for future newsletter content.
Please send your comments and feedback to imh@hendon-group.com.
Ira M. Hendon, MBA, PMP®
President and CEO
Hendon Group, Inc.
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 Tip of the Month
Fall Budget Planning Process
Fall is an interesting time of year for most corporations. Why, because just about every large corporation hosts its premier "goat rodeo" event known as the fall budget planning process. One of the key challenges corporations have is determining year-to-year impact. I have seen many organizations focus on their next year's plan numbers without truly understanding and having traceability back to current year actuals and forecast.
Before you focus on finalizing your next year's budget numbers, make sure you have traceability to the current year's numbers (preferably by business unit). Having this information will help you defend the funding requirements for your programs that span calendar and/or fiscal years. This will also provide your leadership team the information they need to minimize the risk of under-allocating resources for the next year's strategic initiatives and programs.
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Does your organization effectively leverage portfolio management?
Portfolio Management
The Fourth Edition of "A Guide to the Project Management Body of Knowledge" (PMBOK) defines a portfolio as "a collection of projects or programs and other work that are grouped together to meet strategic business objectives. The project or programs of the portfolio may not necessarily be interdependent or directly related. "1 Unless an organization is inactive, it would be hard to find a for-profit or non-profit organization that does not have a portfolio of work they need to perform in order to achieve their strategic or tactical objectives.
The PMBOK further defines Portfolio Management as "the centralized management of one of more portfolios, which includes identifying, prioritizing, authorizing, managing, and controlling projects, programs and other related work, to achieve specific strategic business objectives. Portfolio management focuses on ensuring projects and programs are reviewed to prioritize resource allocation and that the management of that portfolio is consistent with and aligned to organizational strategies."1 With this as background, organizations should think about the following with respect to portfolio management:
1. Assign the role of portfolio management 2. Establish a framework to support project prioritization and resource allocation 3. Incorporate resource development as part of the portfolio management framework Learn more
1. A Guide to the Project Management Body of Knowledge . Project Management Institute. 2008. pp. 8 - 9
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P3 Calendar
Events of interest to Portfolio, Program and Project Leaders Below is a listing of dinner meetings and professional development opportunities around the country you may find useful as you conduct your business travel. Please let us know what particular geographies you frequent the most so we can include events in those locations in our newsletter. Also, if you have events planned that would be of interest to the P3 Leadership community, please do not hesitate to contact us. California Events
Nov 6, 2010...............PMI Orange County Chapter Dinner Meeting
Topic: Scope Management: Managing Scope from Cradle to Grave
Speaker: Mike Graupner
5:30 - 9:00 p.m. PT
Keller Graduate School of Management/DeVry University, Rm.207, Long Beach, CA
Event details and registration information
Nov 17, 2010...............PMI San Francisco Bay Area Chapter Dinner Meeting
Topic: Turning around a Troubled Project
Speaker: Chris Marr
5:30 - 9:00 p.m. PT
Embassy Suites, Walnut Creek, CA
Event details and registration information
Georgia Events
Nov 8, 2010.............PMI Atlanta Chapter Dinner Meeting
Topic: To Live Above the Common Level of Life
Speaker: Retired Army Colonel Matthew S. KlimowAtlanta, GA
PDUs 1
Event details and registration
Indiana Events
Nov 9, 2010.............PMI Central Indiana Chapter Dinner Meeting - Carmel
Topic: Volunteer Recognition Dinner
Speaker: April Morris
The Mansion at Oak Hill, Carmel, IN
PDUs 1.5
Event details and registration information
Nov 9, 2010.............PMI Central Indiana Chapter Dinner Meeting - Carmel
Topic: Volunteer Recognition Dinner
Speaker: April Morris
The Mansion at Oak Hill, Carmel, IN
PDUs 1.5
Event details and registration information
Nov 18, 2010.............PMI Central Indiana Chapter Dinner Meeting - Bloomington
Topic: Volunteer Recognition Dinner
Speaker: April Morris
The Mansion at Oak Hill, Carmel, IN
5:30 - 8:00 p.m. CT
PDUs 1.5
Event details and registration information
Nov 18, 2010.............PMI Central Illinois Chapter Dinner Meeting - Kokomo
Topic: Volunteer Recognition Dinner
Speaker: April Morris
Delphi CTC Facility, Kokomo, IN
5:30 - 8:00 p.m. CT
PDUs 1.5
Event details and registration information
Nov 18, 2010.............PMI Central Indiana Chapter Dinner Meeting - Muncie
Topic: Volunteer Recognition Dinner
Speaker: April Morris
Ball State Alumni Center, Muncie, IN
5:30 - 8:00 p.m. CT
PDUs 1.5
Event details and registration information
Illinois EventsNov 9, 2010.............PMI Central Illinois Chapter Dinner Meeting - BloomingtonTopic: Reassessing Your Project Portfolio in Today's Economy Speaker: Maureen W. Vavra Eastland Suites, Bloomington, IL Event details and registration informationNov 10, 2010.............PMI Chicagoland Chapter Dinner Meeting
Topic: How to Create and Manage Great Remote Project Teams Speaker: William Turmel The Carlisle, Lombard, IL PDUs 1 Event details and registration information
New York Events
Nov 17, 2010......PMI New York City Chapter
Topic: Lean Program Management: How to accelerate Time to Market and Increase IT
Speaker: Dr. Jerry Julian
Hotel Pennsylvania, New York, NY
5:30 - 7:30 p.m. ET
PDUs 1
Event details and registration information
Texas EventsNov 11, 2010...........PMI Dallas Chapter Dinner MeetingTopic: Leadership and the Power of Acknowledgment Speaker: Judith Umlas Crown Plaza North Dallas/Addison, Dallas, TX 6:30 - 8:30 p.m. CT Event details and registration informationNov 13, 2010..........PMI Dallas Chapter EventTopic: Managing a project in turbulent times Speaker: Dr. Edward H. Richards Marriott Courtyard Plano at Legacy Park, Plano, TX 9:30 a.m. - 10:30 a.m. CT Event details and registration informationNov 18, 2010..........PMI Dallas Chapter Professional DevelopmentTopic: Leadership and the Power of Acknowledgment Speaker: Judith Um1as Crown Plaza North Dallas/Addison, Dallas, TX 8:30 a.m. - 10:00 a.m. CT Event details and registration information
Washington, D.C. Events
Nov 4, 2010...............PMI Washington D.C.
Topic: Project leadership History in the Making
Speaker: John Luttrell
Sheraton Crystal City, Arlington, VA
17:00 - 21:00 ET
Event details and registration information
Nov 16, 2010.............PMI Washington D.C.
Topic: Leadership Lessons From Some of the World's Toughest Marathons
Speaker: Anthony Reed
Sheraton Premier, Tyson Corners,
5:30 - 9:00 p.m. ET
Event details and registration information
Wisconsin EventsNov 3, 2010.............PMI La Crosse Chapter Dinner Meeting
Topic: Managing the Seven Stakeholders of Oktoberfest: Blending Traditions and an Outside Perspective Speaker: Tina Severson Event details and registration information
Nov 3, 2010.............PMI Milwaukee/SE Wisconsin Chapter Dinner MeetingTopic: Applied Agile Project Management Speaker: Jay Steinke PANOS, Brookfield, WI 5:30 - 8:30 p.m. CT PDUs 1 Event details and registration informationNov 8, 2010.............PMI Milwaukee/SE Wisconsin Professional Development DayEvent details and registration informationNov 8, 2010.............PMI Northeast Wisconsin Chapter Dinner MeetingTopic: Creating an Effective Relationship between Project Manager and Business Analyst Sentry Office Building, Stevens Point, WI 4:00 p.m. - 8:00 p.m. CT PDUs 1 Event details and registration informationNov 11, 2010...........PMI Northeast Wisconsin Chapter Dinner Meeting - Fox Cities/NeenahTopic: Creating an Effective Relationship between Project Manager and Business Analyst Bridgewood/Ground Round, Neenah, WI 4:30 p.m. - 8:00 p.m. CT PDUs 1 Event details and registration informationNov 17, 2010...........PMI LaCrosse Chapter Dinner Meeting
Topic: I-90 Mississippi River Bridge and Interchange Project Speaker: Jai Kalsy, P.E. Rochester, MN 5:30 p.m. - 8:00 p.m. CT PDUs 1 Event details and registration information
Nov 17, 2010...........PMI Milwaukee/SE Wisconsin Chapter Breakfast MeetingTopic: The Boston Big Dig Project Speaker: Panel Discussion 7:00 a.m. - 8:30 a.m. CT PDUs 1 Event details and registration informationDec 6, 2010............PMI Northeast Wisconsin Chapter Dinner Meeting - WestonTopic: The Race to the South Pole: Ten Lessons for Project Managers Speaker: Rick Brenner St. Clares Hospital, Weston, WI 4:30 p.m. - 8:00 p.m. CT PDUs 1 Event details and registration informationDec 7, 2010............PMI Northeast Wisconsin Chapter Dinner Meeting - AppletonTopic: The Race to the South Pole: Ten Lessons for Project Managers Speaker: Rick Brenner The Wave, Appleton, WI 4:30 p.m. - 8:00 p.m. CT PDUs 1 Event details and registration information
CanadaNov 9, 2010...........PMI Southern Ontario Chapter Breakfast MeetingTopic: Project Leadership Circle: Anatomy of Success Speaker: Uri Galimidi Sault College, Sault Saint Marie, Northern Ontario 7:45 - 8:45 a.m. ET PDUs 1 Event details and registration informationNov 18, 2010...........PMI Southern Ontario ChapterTopic: Managing Resistance to Change Speaker: Norma Gardner Sault College, Sault Saint Marie, Northern Ontario 6:15 - 8:00 p.m. ET PDUs Event details and registration information |
Project Management for Small Business Owners workshop - November 4, 2010
Professional Development
Small business
owners are constantly facing the challenge of wearing multiple hats and
managing multiple work streams every business day. Many of these work
streams should be managed as projects.
Hendon Group, Inc. is teaming with the College of Lake County (CLC) Illinois Small Business Development Center (IL SBDC)to conduct an evening workshop on project management for small business
owners. The "Project Management for Small Business Owners" workshop
will be held at 6:30 p.m. CT on Thursday, November 4, 2010 at the
College of Lake County's Grayslake Campus.
Learn more.
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