September 14, 2020 — Peter Nichol published new research highlighting how Six Sigma can be applied to quantify portfolio delivery and execution.
As a leader, you’re either joining a company to lead a new team or working internally to improve your existing team. In both scenarios, results matter.
In the quest for improvements, the fundamentals are often overlooked. Once these fundamental elements are in place the objective to quantify improvements becomes more difficult. We need tools that are fit-for-purpose to make portfolio transformations sticky.
Peter’s research connects the basics of delivery for advanced portfolio management practitioner approaches to quantify organizational transformations. The paper explains how to capture and quantify the organizational value to communicate clearly to executive leadership.
This paper aims to present a practical approach to applying principles of Six Sigma to statistically control portfolio delivery within a program-management office. Portfolio executives are continuously charged with transforming a low-performing team into a high-performance team. Often, the methods of transformation are based on experience, and these imprecise methods frequently produce inconsistent results. The transformation from a low-performing team to a high-performing team can be accelerated by using a quantified methodology to define, measure, analyze, improve, and control desired outcomes. This paper presents a practitioner approach to maximizing the organizational outputs from an agile program-management office by leveraging statistics and mathematical principles to tighten process variance. By applying a fit-for-purpose approach to corporate and operational excellence, portfolio executives can dial in and remediate the root causes of portfolio inefficiencies for maximum agility and value realization.
What will you learn?
- How to conduct a quick-hit portfolio assessment? The foundational for quantification of results.
- Explanation and examples of four key tools that can be applied to measure portfolio outcomes.
- Highlights of 21 measures and brief examples of how to apply them to performance.