October 8, 2020 — Peter Nichol published new research highlighting how services catalogs provide the blueprint for the future of value management.
Executives are conflicted about what to do with failing PMOs. They focused on project volume and forget about project value.
As organizations adopt value-based frameworks for delivery new skills are required for success. It’s no longer acceptable to be leading a portfolio that is 90% focused around data and not be able to name a single data cleansing tool or technology. CIOs are looking for executive and business information officers to champion and drive change. It’s hard to do that when you’re not in the know.
By being transparent in the services the new value management office can provide to the organization business partners can begin to understand how to consume there organizationally provided services to maximize value.
Peter’s research envisions the future of a services catalog that is centered around value management offices. Companies are shifting from project delivery to continuous value delivery. To do this successfully the value management office needs to identify services that are core capabilities and defocused on non-core service. Putting in place a service catalog for your vale management office will take the guesswork away from your business partners and make it clear services the office provides.
The paper explains specific examples of how to stand up a service catalog for a value management office and the benefits that will result.
Abstract — This paper aims to present a unique approach to implementing a project-management-office service catalog for organizations focused on continuous value delivery. Business information executives and officers must validate investment decisions and demonstrate value achieved. The process of gaining additional organizational and cross-functional executive buy-in is especially difficult when team members, leaders, and executives don’t understand what services the organization’s project-management office provides. The traditional project-management office—centered around processes and templates—is being transformed into a new-age, value-management office that’s hyper-focused on the value realized. Innovators understand and appreciate that if the services the project-management office provides are vague, business partners won’t consume them. The act of creating a service catalog allows for a tailored or agile approach to delivery. This model accepts that not all projects are created equal. More specifically, leveraging a value-management service catalog refocuses the organization. Core capabilities are provided through the catalog, and investments in these areas are doubled down. Alternatively, capabilities that fall outside the core capabilities of the value-management office are evaluated for outsourcing. This shifts the traditional project-management office from a cost center to a value center and makes services offered transparent to downstream consumers.
What will you learn?
- Why services catalogs are a key element of a functioning value management office?
- Practical ways to make the services provided to internal customers more transparent and easier to digest.
- Why CIOs are looking for leaders that drive strategy with innovation?