New research on value management as an organizational capability

By
Peter Nichol
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October 4, 2020 — Peter Nichol published new research highlighting how value management can be applied organizational as a strategic capability.

Innovative CIOs are realigning project management offices (PMOs) to drive strategic value maximization.

Traditional project management offices (PMOs) focus on process sets, standard templates, and delivering more projects. This focus is important and necessary. Conventional PMOs are not trained, educated, or equipped to focus on strategic projects diving data science, next-gen technology, and business transformations.

The value management office focuses on the most strategic organizational projects and ensures that value is maximized.

Peter’s research explores how innovative companies are reframing the concept of a PMO. These companies are shifting from a “projects delivered” mindset to a “value delivered” mindset. How do you know if your team is a traditional PMO or a value management office? If you as an executive are hearing about process reengineering efforts, communities of practice, or delivery methodologies you’re in a traditional PMO. The focus and priority of traditional PMOs are not on your most critical strategic initiatives—but it should be.

The paper explains multiple value frameworks to discover, capture, and present value to ensure your strategic initiatives achieve optimal results.

DOWNLOAD THE FULL RESEARCH PAPER – VALUE MANAGEMENT as an ORGANIZATIONAL CAPABILITY

Abstract

Abstract — This paper aims to present a practical approach to institutionalizing business value realization as an organizational capability. Business and technology executives are under continuous pressure to justify investments and validate business outcomes. When executives are asked to explain the value generated by their team, department, or company, only then do they realize they lack the in-house expertise to produce the level of quantifiable outcomes expected. Progressive leaders know that the process of discovering, realizing, and optimizing value is an essential organizational capability. This paper presents a practitioner approach offering multiple value management frameworks to assist executives in making informed decisions when building a value-management office. Traditional project-management offices maintain project-management standards, establish best practices, define common languages, develop a resource-management view, and create and maintain project artifacts and tools. Unfortunately, the heavy burden of these core project-management office activities results in no time for strategic planning. The value-management office oversees the execution of all the company’s strategic programs. The company’s hyper-focus on connecting strategy to execution ensures the value maximization of its strategic initiatives.

What will you learn?

  • Why the most innovative leaders are reassessing their PMO functions? What value frameworks are working for agile companies? Which are the most impactful options to hyper-focus on your most strategic programs to maximize value.
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Peter Nichol
Peter is a technology executive with over 20 years of experience, dedicated to driving innovation, digital transformation, leadership, and data in business. He helps organizations connect strategy to execution to maximize company performance. He has been recognized for Digital Innovation by CIO 100, MIT Sloan, Computerworld, and the Project Management Institute. As Managing Director at OROCA Innovations, Peter leads the CXO advisory services practice, driving digital strategies. Peter was honored as an MIT Sloan CIO Leadership Award Finalist in 2015 and is a regular contributor to CIO.com on innovation. Peter has led businesses through complex changes, including the adoption of data-first approaches for portfolio management, lean six sigma for operational excellence, departmental transformations, process improvements, maximizing team performance, designing new IT operating models, digitizing platforms, leading large-scale mission-critical technology deployments, product management, agile methodologies, and building high-performance teams. As Chief Information Officer, Peter was responsible for Connecticut’s Health Insurance Exchange’s (HIX) industry-leading digital platform transforming consumerism and retail-oriented services for the health insurance industry. Peter championed the Connecticut marketplace digital implementation with a transformational cloud-based SaaS platform and mobile application recognized as a 2014 PMI Project of the Year Award finalist, CIO 100, and awards for best digital services, API, and platform. He also received a lifetime achievement award for leadership and digital transformation, honored as a 2016 Computerworld Premier 100 IT Leader. Peter is the author of Learning Intelligence: Expand Thinking. Absorb Alternative. Unlock Possibilities (2017), which Marshall Goldsmith, author of the New York Times No. 1 bestseller Triggers, calls "a must-read for any leader wanting to compete in the innovation-powered landscape of today." Peter also authored The Power of Blockchain for Healthcare: How Blockchain Will Ignite The Future of Healthcare (2017), the first book to explore the vast opportunities for blockchain to transform the patient experience. Peter has a B.S. in C.I.S from Bentley University and an MBA from Quinnipiac University, where he graduated Summa Cum Laude. He earned his PMP® in 2001 and is a certified Six Sigma Master Black Belt, Masters in Business Relationship Management (MBRM) and Certified Scrum Master. As a Commercial Rated Aviation Pilot and Master Scuba Diver, Peter understands first hand, how to anticipate change and lead boldly.
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