Project Portfolio and Process Automation
Traditionally we’re used to thinking about project portfolio management as an administrative process with the goal of controlling change and decision making.
The process begins with someone writing a formal document – a project proposal. The next person will then look over and evaluate the document and move it onwards to be processed further. Experts will give their assessments to aid in the decision making. Typically the small proposals will be processed at a lower level and the bigger ones at board level. Proposals that are selected for execution will be monitored through continuous reporting while controlling any changes that occur during the process.
The end goal is to ensure that every part of the process is executed properly to make sure that we make more good decisions than bad ones. Unfortunately the relevant information is often spread over various documents and formats, leading to a lot of experts’ time wasted when trying to collect and connect those bits of information manually, thus delaying decision making.
It all comes down to how we manage knowledge. Usually the knowledge exists but in the wrong place or format, and we waste resources trying to interpret it. Organisations cannot afford to waste time like this in today’s world. It’s crucial to make the right decisions faster and save experts’ time for more important and more value creating tasks.
What needs to be achieved:
- Decrease the amount of manual work – input information once only.
- Automatise reporting to enable quicker information sharing.
- Automatise recurring decisions to improve speed.
- Establish metrics to measure process efficiency.
How to achieve these:
- Build a process that is as simple as possible.
- Utilise automation wherever possible. Let the smart software bots and low code programs automate the repeated tasks for you.
- Knowledge has to be transferable between systems – use open systems and prevent information from getting stuck or lost along the way.
- Build one source of truth. The same piece of information should only be maintained once.
- Be practical. It’s not rocket science.
- Proceed in steps. Do not wait until you have all the information in control – Get the small quick victories on the way.
The end result should look like manufacturing industry’s automation process – simple, quick and efficient to serve your organisation’s needs. Not like an experimental science project that is trying to solve all the problems in the world.
Looking for a tool to help you reach these goals? Please check out how the Keto Platform can help you solve these problems, or send us a message to book a demo.
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