The strangest of bedfellows: earned value and portfolio management?
In the summer, I presented on the overlap between the organisational needs of portfolio and earned value (EV) management at EVA16.
My points were:
- We can be parochial setting up EV procedures by project, but if the organisation is coordinated to use common tools, data sources and reports, the EV process and analysis should be more reliable and ‘cheaper’. However – while some organisations have taken the plunge to set up well, many do not buy into the benefit for the cost / difficulty and shun the techniques.
- The proposition I made was that for effective portfolio management, we need good data from common tools and processes, with roles to provide scrutiny / oversight, thought leadership, technical support and governance - to ensure organisations operate the right way.
The core elements of earned value and portfolio management are nearly the same. If we attract senior level sponsorship for ‘proper’ portfolio management, can we hook in EVA as an added bonus for little extra effort?
Can better controls at the project level and better steering at the business level overall, make a better case for each, or should these strange bedfellows never be put together?