Enterprises want to be more agile so lean PPM is likely to help here. The traditional PPM seems to lose popularity in this context. In this article at Planview, Brook Appelbaum discusses the differences between traditional and Lean PPM.
Going Through the Main Differences
Your company wants to move forward and adopt Agile but traditional PPM seems to hold it back. If that is so, Lean PPM is the solution. Find out below what the difference is between traditional and Lean PPM:
Funding Work Assignments: For traditional PPM, project budget and plan are decided by the PMO. While it stresses on the project, Lean PPM proposes sustainable team environment with more ownership abilities. Previously, the budget would be decided based on the project estimates before the project even started. With the Lean approach, the budget would be allocated as and when the project progresses. Traditional PPM wants the team to stick to the project plan and budget. Meanwhile, the new approach stresses more on outcomes and customer reaction, i.e. value streams. Teams do not require management approvals to manage a small budget. This allows the PMO to focus more on high-value assignments.
Value Flow Management: For traditional portfolio management, several projects are planned, worked on, and executed on the same time period. This leads to resource burnout and reduced project quality. With the new approach, work is prioritized depending on demand management. The team focuses on prioritized items. This results in improved work value and satisfied employees.
Work Management: What teams are going to work for a fiscal year is decided at the beginning of the year. They cannot make any changes to that. Lean PPM prefers decentralized work planning. Teams will create a working model that will be incrementally developed for the next 8 to 12 weeks. Instead of enforcing this across the organization, only the agile team with 5 to 12 members will work this out.
Progress Mapping: Traditional PPM relies on waterfall methodology where progress is measured based on deliverables that are documented in details. So, innovation takes a setback. Lean PPM encourages out-of-the-box solutions and outcomes.
To view the original article in full, visit the following link: https://blog.planview.com/is-it-time-to-rethink-traditional-portfolio-management/