New research why service catalogs are the blueprint for the future of value management

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.

DOWNLOAD THE FULL RESEARCH PAPER – SERVICE CATALOGS: BLUEPRINT FOR THE FUTURE OF VALUE MANAGEMENT

Abstract

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?
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Peter is a technology executive with 19 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.