IT Best PracticesProject Portfolio Management

Tips on Resource Allocation Courtesy of James Bond’s Boss

James Bond is awesome: there’s no two ways about it. He’s smart, witty, and charming. He can disassemble a gun while someone’s pointing it at him, jump out of windows into cars, and operate any number of cool gadgets that Q provides. But when it comes down to it, Roger Chou (the author of the post) knows one of the real heroes is M; James Bond’s boss. M is the one who knows when to assign Bond to get the job done, provides the right equipment, and gives the right information: In the 2006 version of the James Bond film, “Casino Royale,” for example, the character named M is responsible for managing military intelligence projects and programs. She has to make the best use of the resources under her governance, whether they are programs or projects. When one of her projects is out of control, she corrects the deviation by removing resources and support — in this case, from Mr. Bond’s personal revenge-oriented task —  because it  may not align with the organizational objective. So what does M teach us about portfolio management? For starters, bringing together the best elements in each portfolio to work off of one another helps build the success of each individual project. Furthermore, M shows us that by putting projects together which share the same risks, there is more of a likelihood of stronger management oversight.

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