PMXPO – The Virtual Event Before Virtual Events Were Cool

Author: Courtney McClay

PMXPO, the largest virtual event for project managers hosted by PMI (the Project Management Institute) had its 13th edition of its relished event this past month. This year’s event was timely indeed, having always been held virtually in a time when virtual is the only option, brought over forty-four thousand (yes, thousand!) project management professionals together to network and to start the new decade with a bang. As a fourth year consecutive sponsor, we greatly enjoyed getting to virtually network with our peers and get up to speed with the latest changes in digital transformation, Agile Portfolio Management, and how to build change-ready culture at a time when change is rapidly becoming the norm.

Every year we like to survey those that come across our booth to gauge the current trends and obstacles project management folks are facing in their organizations. As usual, there were some consistencies from previous years, but also a few takeaways worth noting. Here are our finding and thoughts around market implications based on this survey of information.

1. Adapting to change is what is driving agile transformation, regardless of organization size.

                         

    1. Most (78%) of organizations are undergoing an Agile transformation. Adapting to change is the single largest driver for a transformation regardless of their organization size, industry, or existing tools they have.
    2. 100% of the respondents that cited they already have a PPM solution in place also cited adapting to change as their biggest driver for Agile Transformation leading us to believe their existing tools either do not provide what they need to quickly and easily adapt to change or they are not equipped to utilize their tooling for change management.
2. Resource management continues to be the biggest challenge facing PMOs of any size – though interestingly those that have something in place or are “getting by just fine” largely say Prioritization is their biggest challenge.
                         
    1. Every year we have surveyed project management professionals, resource management proves to be the largest threat to their company and its effectiveness to accurately plan resource capacity.
    2. When we looked closer at those surveyed that said they have a PPM in place or are getting by just fine without it, prioritization became the biggest challenge with resource management closely behind. This is interesting because typically tools are procured to solve these exact problems, implying the solutions they are working with just aren’t meeting the needs. 
3. About half (43%) of the PMOs surveyed with 100+ members of the PMO do not have a system in place.
    1. We know that when a software is leveraged amongst PMOs you are able to increase the chances of success, reduce and manage risk across the entire project portfolio and keep costs under close control.
    2. While it is reassuring to see that most (87%) of those that are evaluating or planning to evaluate a software are in the smaller groups or have no formal PMO in place, it is alarming that 44% of the larger PMO organizations (100+) do not have something in place and 10% of those are still using spreadsheets or a homegrown solution.

If you were able to ‘swing by’ our booth this year, we hope you learned a little more about Agile Portfolio Management, what it looks like today and how it can be applied to your work environment. Agile Portfolio Management allows you to deliver the best portfolio of projects faster, and respond quickly to changing requirements, which as we can all attest to, is a major challenge in the project management world today.

For those that didn’t get to see our Agile Portfolio Management solution, from a high level, we focus on:

  • Managing products instead of projects
  • How Agile and waterfall can live in harmony
  • Empowering teams for continuous improvement
  • Accurately planning resource capacity
  • Delivering strategic projects faster
  • Tracking business value instead of just end dates
  • Responding more quickly to changing requirements
  • Delivering new levels of stakeholder satisfaction
  • Mastering the ambiguity of modern business 

We assure you that ‘Agile Portfolio Management’ is not just another buzzword – it is a working methodology that companies and PMOs are implementing all over the globe. If you’re interested in learning more, check out our latest whitepaper on how to revolutionize project delivery through this innovative approach to portfolio level management - Agile Portfolio Management!

As a PPM software vendor, we encourage organizations with PMOs to utilize the tools that are meant to help them place the right bets on the projects and initiatives that matter, turn quickly when changes arise or priorities shift, and ultimately deliver faster the promised value to the businesses.