Tuesday Brief: In today's economic climate, the organizations that thrive are those that transform IT spending from a cost center into a strategic advantage. This week, we explore how financial management expertise can revolutionize your portfolio approach, while also diving into a refreshing perspective that compares project management to mastering the art of swimming.
Featured Article: How Project Management is Like Learning to Swim + Swimlane Methodology for Success
Just as a novice swimmer can't power through water without proper technique, becoming an effective project manager requires more than just a title or certification. In this insightful analogy, Ronald B. Smith, MBA, PMP explains how project management, like swimming, demands preparation, adaptability, and consistent practice.
This refreshing perspective explores:
Why initial fear and uncertainty are normal in both disciplines
How gradual skill development builds confidence over time
Practical benefits of swimlane diagrams for cross-functional collaboration
Whether you're struggling with a complex project or looking to refine your methodologies, this comparison offers a relatable framework to improve your approach and team coordination.
Resource Article: Project Portfolio Management: Align Project Resources with Business Strategy:
In today's resource-constrained environment, strategic alignment between projects and business goals is more critical than ever. In this insightful article by Eric Verzuh, you'll discover how effective portfolio management creates the framework for smarter resource allocation.
Key takeaways include:
How to establish meaningful portfolio categories that reflect organizational strategy
Creating a "single source of truth" with consistent project data for better decision-making
Building stakeholder consensus on selection criteria that balance mandatory requirements, ROI, and subjective factors
Techniques for visualizing portfolio trade-offs using bubble charts and other visual tools
Integrating personnel capacity planning to prevent resource overallocation
This practical guide demonstrates why modern portfolio management isn't just about project selection—it's about aligning limited resources with strategic priorities to maximize organizational impact.
Live Event (5/21): Unlocking Value: Strategic Portfolio Management and IT Financial Management
Discover how integrating IT Financial Management best practices can unlock budget efficiencies and drive strategic initiatives within your IT Project Portfolio.
Portfolio management expert Peter Iovino brings 30 years of experience across multiple industries to show you how to:
Identify overlooked areas of IT spend that could be optimized
Free up resources for strategic initiatives through improved visibility
Connect technology investments directly to business goals
Build trust with stakeholders by prioritizing high-value activities
Develop financial insight skills that enhance strategic decision-making
This session provides actionable techniques for improving your portfolio's financial performance that you can implement immediately.
MPUG host live events with leading experts on Wednesdays from 12:00pm - 1:00pm ET! MPUG members get access to live events where you get direct access to industry leaders, actionable insights, hands-on training, and opportunities to earn PDU's.
Learn more and register for upcoming events:
5/21: Unlocking Value: Strategic Portfolio Management and IT Financial Management | Learn More / Register Here
5/28: If I only had a brain! Applying neuroscience principles to be a better leader, follower, and teammate | Learn More / Register Here
6/11: Turning on the Power: Supercharge Your Project Online Experience with Power BI | Learn More / Register Here
The most influential project and portfolio managers aren't just skilled at delivery—they're also fluent in financial language. Develop your financial acumen by focusing on three key areas: 1) Understanding the business model that funds your projects, 2) Tracking how your project impacts both revenue and costs, and 3) Communicating project value in terms executives care about. This targeted approach will distinguish you as a strategic thinker, not just a tactical executor.
