Governance of Corporate Transformation Diploma
Governance and Management of Corporate Transformation perspective of evolving agile value change helps deliver more of the right things for less and leads to effective use of available resources. When times are good, the demand is to deliver more with less to remain competitive. In leaner times, the demands are for cutting costs in a manner that inflicts as little harm as possible. In some circumstances, value added by stopping certain activities or projects. This diploma provides a way of addressing changes in an objective and auditable manner aligned with cost benefits risk governance model aligned with strategic directions and stakeholder’s needs.
The diploma intended to inform Management who are concerned with delivering strategic, tactical capability or business product changes through portfolio, Programmes, projects or operations, or to supplement other management methods to align strategy of essential benefits and so improved value for money.
In addition, the diploma addresses the emergence of programme management as a distinct discipline to reflect project management’s strength and appeal as much as its shortcomings. As the number and complexity of inevitable changes and challenges facing organizations has grown so has the tendency to adopt project management as the preferred vehicle for change. As the traditional techniques and structures have been flexed and adapted to cope with uncertainty, multiple-related goals and the speed of change, something quite distinct has sprung up; programme management. The techniques and approaches which are at the core of programme management as a discipline are not well documented or established; yet are being practiced tentatively by managers. Because of its origins and the multiple needs served, programme management exhibits as much variation as commonality. Nonetheless, a core discerned programme management offers significant potential for the next millennium aligned with portfolio and value management well governed. Extracting the full benefits will require a recognition of the uniqueness and distinctiveness of programme management; without this recognition, there will remain a tendency to leverage inappropriate project concepts and overlook or even stifle the nascent programme level concepts.
Programme Learning Outcomes:
Provides essential guidance on the most efficient use of resources, risk management and value management to maximize the benefits from portfolios, Programmes and projects and supplement governance and management practices of changes. The diploma brings together a set of principles, processes and techniques to facilitate effective value, portfolio, and programme and project management through enablement of support structures.
Provide universally applicable guidance that will enable individuals and organizations to successfully establish, develop and maintain appropriate business support structures for managing organization changes guidance as well on a framework whereby large, complex change can be
broken down into manageable, inter-related well-facilitated projects and:
• Understand the principles and structure of portfolio, programme, project, risk, and value management.
• Understand the benefits of a structured method in a changing environment.
• Explain portfolio, programme, project and risk management processes models.
• Understand how to address themes needed for change.
• Propose a portfolio, programme, project and risk organizational structures.
• Manage stakeholder engagement strategies.
• Understand how vision and the blueprint applied.
• Apply progress control and information management mechanisms.
• Appreciate the principles of quality assurance of change and risk management.
• Realize the importance of document, assets and configuration management.
• Learn how to embed and review PPM, Risk and Change management practices.
• Governance of Change in term of evaluation, direction and monitoring
• Alignment, planning and organizing between strategic direction, delivery of capability and project products
• Ensuring deliver, service and support quality change • Stakeholders acceptance of portfolio, programme and project changes
• Taking less risk on projects, Programmes and portfolio
• Faster ROI
Audience for this diploma:
• Portfolio Managers
• Program Directors and Managers
• Project Managers • Consultants
• Senior Members of P3O (Portfolio, Program & Project office).
• Senior Managers who will “sponsor” the change
• Business Change Managers
• Other specialist/governance roles like Board Members, Risk Manager, and Value Manager.
The diploma addresses governance and management of evolving corporate changes by adapting the integration of world best practices in delivering business products, capability changes, positive outcomes and benefits realization towards cost, benefit and risk change enablement strategic initiatives.
I. Project governance and management method
Project governance and management method used by people and organizations from wideranging industries and sectors is a flexible method that guides through the essentials for managing successful projects, regardless of type or scale and tailored to meet specific requirements.
The course provides an easily tailored and scalable method for the management of all types of projects. This method is the de facto standard for Project Management and is practiced worldwide. PRINCE2 (PRojects IN Controlled Environments) method used provides common processes, management products, roles, and language for use throughout an organization’s projects whilst learning how to increase productivity and functionality of a project and will help candidates appreciate that a project must remain worthwhile and of business value throughout its lifecycle, to be deemed a success.
On completing this course, the participants will gain competencies in:
o Understand key concepts relating to governance and management of projects
o Understand how the project principles underpin the method
o Understand the project themes and how they are applied throughout the project
o Understand the project management structured processes and how they are carried out throughout the project o How to start, control, and close projects
o How to manage quality, risk, change, plans, benefits, etc.
o How to deliver projects on time, within budget, and to the specified business case o How to tailor PRINCE2 to fit the environment.
II. Agile project management solution
Governance and management of projects using PRINCEII is the most commonly used project management approach in the world, and it is increasingly being used in conjunction with agile. As more organizations adopt agile, the need for specific guidance on how to use PRINCE2 in an agile context has grown accordingly. In simple terms, PRINCE2 and agile each have their own strengths and when combined they complement each other and create a holistic approach to managing projects in an agile way. The strength of PRINCE2 lies in the areas of project governance and project management. However, it provides little focus on the field of product delivery. Conversely, agile has a very strong focus on product delivery but relatively little on project direction and project management. Therefore, when PRINCE2 and agile are combined, all three areas are addressed. It is essential to see this combination as a blend and a mixture as opposed to PRINCE2 and agile working in parallel. Those directing and managing a project in an agile context need to adopt agile disciplines and behaviors. Equally, those using agile to deliver need to integrate seamlessly with the PRINCE2 ethos of staying in control by empowering people and ensuring that the project remains viable.
o Understand the basic concepts of common agile ways of working
o Understand the purpose and context for combining PRINCE2® and the agile way of working
o Be able to apply and evaluate the focus areas to a project in an agile context
o Be able to fix and flex the six aspects of a project in an agile context
o Apply the PRINCE2 principles and tailor the themes, processes and management products to a project in an agile context o To learn using theory and practical exercises
o To prepare delegates for the PRINCE2 Agile Practitioner exam
III. Proven programme management
Successful delivery of transformational change is through the application of programme management. Today’s organizations exist in a climate of constant and increasing change. Organizations that have learned how to transform themselves through effective leadership and strategic control are more likely to survive and prosper. Programme management increasingly recognized as key to enabling organizations to manage that transformation.
Where there is major change there will be complexity, risk, many interdependencies to manage and conflicting priorities to resolve. Organizations are unlikely to be able to deliver change successfully where:
o There is insufficient board-level support
o Leadership is weak
o There are unrealistic expectations of the organizational capacity and capability to change
o There is inadequate focus on benefits
o There is no real picture of the future capability
o There is a poorly defined or poorly communicated vision
o The organization fails to change culture
o There is not enough engagement of stakeholders.
This course aims to confirm that a candidate has enough knowledge and understanding of the programme management following MSP (Managing Successful Programme) guidance to act as an informed member of a programme management team. That is, someone responsible for managing, leading, supporting or advising on work within an MSP environment. The course is entirely focused at applying MSP in programme scenarios.Exercises will be based on the participant’s own experience, and a case study with a similar format used in exam.
At the end of this course, participants will gain competencies in the ability to:
o Understand the principles and structure of MSP.
o Understand the benefits of a structured method in a changing environment.
o Explain and apply the MSP principles, transformation process and MSP themes.
o Draft a Programme brief and Vision Statement.
o Propose a Programme organization structure.
o Engage with stakeholders at all levels.
o Understand the vision and the blueprint and how they can be applied to the best advantage.
o Apply progress control mechanisms.
o Appreciate the principles of programme level quality and risk management.
o Realize the importance of configuration management
o Explain the relationship between the MSP principles, governance themes, the transformational flow, programme information (documents) and the MSP defined programme management roles; and apply that understanding.
o Produce or evaluate examples of MSP programme information (documents).
o Understand which management products are input to, output from, and updated in each of the six transformational flow processes.
IV. Management of Portfolio
Management of Portfolios (MoP) provides a set of principles, techniques and practices to help organizations ensure their Programmes and projects contribute to strategic objectives and achieve maximum ROI. Portfolio management helps organizations make decisions about implementing the right changes to their business as usual activity via projects and programmes. Portfolio management is not concerned with the detailed management of these projects and programmes; rather, it approaches the management of change projects and programmes from a strategic viewpoint.
MoP helps organizations answer the fundamental question: Are we sure this investment is right for us and how will it contribute to our strategic objectives?
• Investment is the key word because portfolio management is about investing in the right change initiatives and implementing them correctly.
• Are we doing these things right?
• Are we realizing all the benefits in terms of more effective services and efficiency savings from the changes we are implementing?
Implementing MoP can help organizations:
o Ensure the projects and programmes provide the greatest financial benefits and contribution to strategic objectives.
o Remove redundant or duplicate programmes and projects.
o Manage resources more effectively.
o Enhance transparency, accountability and corporate governance.
o Achieve the best return from the total investment in change programmes and projects.
o Improve engagement and communication between relevant stakeholders, in understanding and meeting organizational needs and expectations and in communicating strategic objectives.
o Identify and prioritize the various initiatives, such as programmes or projects within the portfolio.
V. Management of Portfolio Office
Portfolio, Programme and Project Management office is a functional component that provides a decision enabling the delivery and support structure for all change within an organization. Management of Portfolio Office (P3O) align to project management (PRINCE2), programme management (MSP), and management of risk (M o R) and brings together a set of principles, processes and techniques to help deliver aligned projects and programmes with business strategies within an organization or department.
Informed senior management decision making on factors including strategy, prioritization, risk management and optimization of resources to successfully deliver their business objectives (portfolio management), identification and realization of business outcomes and benefits via programmes and successful delivery of project outputs that enable benefits within time, cost and quality restraints.
At the end of the P3O Course, participants will be able to:
o Design a high-level P3O model and its component offices.
o List the component offices in a P3O model.
o Differentiate between Portfolio, Program, and Project Management.
o List the key functions and services of a P3O.
o List the reasons for establishing a P3O model.
o Compare different types of P3O model.
o List the factors that influence selection of the most appropriate P3O model for an organization.
o Define the processes to implement or re-energize a P3O. o List the tools and techniques used by a P3O.
o Define the purpose and major responsibilities of the defined roles in a P3O model.
o Manage one of the offices using the P3O guidance.
o Design, implement, manage, or work within any component office of a P3O model.
o Identify the elements, roles, and functions deployed in a generalized P3O model.
VI. Effective risk management
This course brings far-reaching benefits to all organizations, whether large or small, public or private sector, as well as individuals managing projects or programmes or operation and contributing to:
• Fewer sudden shocks and unwelcome surprises,
• More efficient use of resources,
• Reduced waste and reduced fraud,
• Better service delivery, reduction in management time spent fire-fighting,
• Better management of contingent and maintenance activities,
• Lower cost of capital, improved innovation, increased likelihood of change initiatives being achieved,
• More focus internally on doing the right things properly and more focus externally to shape effective strategies.
The course is based on M_o_R (Management of Risk British Framework) and prepares learners to demonstrate knowledge and comprehension of the four elements of the M_o_R framework: Principles, Approach, Processes, Embedding and Reviewing; and how these elements support corporate governance. The M_o_R Practitioner will provide learners with the opportunity to practice the practical application of the M_o_R method and covers the twelve M_o_R principles; Approach, Process and the basic techniques essential to managing risks using the M_o_R guidance. The purpose of the M_o_R Practitioner qualification is to confirm that the learner has achieved enough understanding of how to apply and tailor M_o_R in a scenario situation.
At the end of the M_o_R course, participants will gain competencies in and be able to:
o Describe the key characteristics of risk and the benefits of risk management
o List the eight M_o_R Principles
o List and describe the use of the key M_o_R Approach documents
o Create Probability and Impact scales
o Define and distinguish between risks and issues
o Create a Risk Register o Create a Stakeholder map and identify the key roles in risk management
o Use the key techniques and describe specialisms in risk management
o Outline of M_o_R approach documents (including policy, process guide and risk communications plan)
o Risk identification, assessment and control
o Embedding and reviewing M_o_R
o M_o_R organizational perspectives (strategic, program, project, operational)
o M_o_R health check o M_o_R maturity model
o Risk specialisms (including business continuity management)
VII. Management of Value (MoV)
This course provides essential guidance on the most efficient use of resources to maximize the benefits from portfolios, programmes and projects. MoV combines a set of principles, processes and techniques.
MoV proposes a definition of value that embraces both monetary and non-monetary benefits and argues that the subjectivity of value increases the need for it to be actively managed. It provides a method, supported by techniques, for allocating scarce funds as effectively as possible. MoV has evolved from the practice of value management across many sectors, over many years. The course is intended to help organization leaders and managers use a successful, proven methodology to supplement their current management practices, so that they can increase the value they deliver and make better use of resources.
The course is structured around four integrated concepts:
o Principles: factors that underpin MoV. The principles are based on tried-andtested practices over the past fifty years, and successful value management is unlikely to be achieved if these are not applied. However, they are not prescriptive, and organization need to develop their own polices and processes to meet their specific requirements.
o Processes and Techniques: the methods and tools used in MoV application. The set of processes define the structure of the approach and use of specialist techniques to provide a practical approach to understanding value. o Approach: How to apply MoV to portfolios, programmes and projects.
o Environment: Responding to external and internal influences.
o Proposes a definition of value that embraces both monetary and non-monetary benefits
o Provides a method, supported by techniques for allocating funds as effectively as possible
o Allows you to increase the value you deliver and make better use of resources
o Highlights the best way to respond to both external and internal influences
VIII. Portfolio, Programme, and Project Maturity Management (P3M3)
The course provides participants with a framework for organizations to assess and benchmark their current performance and effectively develop plans for improvement. P3M3 provides three maturity models that used separately to focus on specific areas of the business, or more generally to help the organization assess the relationships between their portfolios, programmes and projects.
The P3M3 includes:
• Increased scope
o Asset management
o Commercial management
• Increased diagnostic capacity.
The P3M3 maturity model sub-models are:
• Portfolio Management (PfM3)
• Programme Management (PgM3)
• Project Management (PjM3).
Expected objectives from the course is from enabling the using P3M3 to develop and implement an improvement plan that would achieve:
o Cost savings
§ On delivering project outputs and programme outcomes
§ Integrate processes across an organization
§ More effective use of budgets
o Improved benefits delivery
o Improved quality of delivered projects and programmes
o Improved customer satisfaction
o Increase return on investment
o Providing plans for continual progression
o Recognizing achievements from previous investment in capability improvement
o Focusing on the organization’s maturity, not specific initiatives (you can run good programmes and projects without having high levels of maturity – but not consistently).