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If you have come across the term P30 for the first time, you could be forgiven for thinking the information available to you is not unlike a jumbled mess of wires that seem to have no beginning and no end. For that reason, we have decided to set some guidelines out that will help you understand what P30 is and, what purpose it holds along with the benefits and negatives to your business. Definition P30 quite simply put, stands for the following: - Portfolio = What are we doing wrong and how can we put it right. - Programme = The benefits and outcomes. - Project = The deliverables. Once you have an understanding of this concept you can move on to the next basic piece of information: - Capacity = Can we adopt it and if so, can we do it? - Processes = How do we do it? If we can, is it possible for everyone to do it the same way? Purpose The purpose of a P30 is to ensure that your business handles its projects and portfolios with ease. The beauty of P30 is that you don't have to be part of a huge organisation to put something like this in place. This can be set-up as a separate office which may exist under several different names such as: - Portfolio Office - Centre of Excellence - Corporate Program or Enterprise Office In addition, this system may also be used to link various offices across the board together such as: - Portfolio Office - Programme Office - Project Office As mentioned, the business you're involved with doesn't have to be a huge conglomerate in fact; a P30 isn't a "one size fits all" approach to the way your business works. All sorts of factors have to be taken into consideration such as geographical location of staff, risk management, the maturity of the business involved, the number of programmes and the overall business needs. Essentially, a P30 will be the support engine responsible for advising senior management on the progress of the portfolio or projects, any problems or conflicting issues that may arise and, most importantly how successful that portfolio or project is. Benefits The benefits to a P30 are closely related to the overall purpose of setting it up in the first place. Some of the key benefits to consider when you're looking at changing your organisation in this way are: - Keeping senior management "in the loop" based on the strategic risk management, prioritisation, and optimisation of business resources and objectives successfully. - To identify the outcome of business strategy by implementing successful programs. - Most importantly, that those projects are delivered on time without going over budget and at a level of quality that's acceptable. Negatives There are few if any negatives to implementing a P30 within your business environment. However, this is something that should be thought about carefully. One of the biggest mistakes many people make is to man the central office with junior staff. In fact, this should be quite the opposite. Because of the number of decisions needed to be undertaken, it's wise to include employees who are at the top of their chosen careers. The reasoning behind this is obvious. High level decisions will need to be made by those involved before it reaches the "ears" of senior management staff. Should these decisions be unwise the whole system could falter, it's also wise to seek outside professional advice when thinking about implementing a P30, no matter how large or small the organisation may be. Overall P30 exists to help businesses become more efficient and therefore, more successful at what they do. It will help to stop misunderstandings within various projects resulting in budgets being over stretched and deadlines being missed. Pat Majik of PMMajik.com writes helpful and insightful project management articles. - Project Management Blog
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