TeamSted - Revision history

Bjhj at 07:27, 10 March 2020

2020-03-10T07:27:36Z

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	== Introduction ==		== Introduction ==
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	== Tools ==		== Tools ==


	===Tool 1 - SWOT ===		===Tool 1 - SWOT ===
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	====Benefits and limitations====		====Benefits and limitations====
	Generally, SWOT is an efficient and valuable tool to gain insight into, what is realistic to achieve and where the focus area should be. The managers within a company can easily identify and evaluate if their goals are achievable and if they are not, then the SWOT model can be modified by going through each of the four elements.		Generally, SWOT is an efficient and valuable tool to gain insight into, what is realistic to achieve and where the focus area should be. The managers within a company can easily identify and evaluate if their goals are achievable and if they are not, then the SWOT model can be modified by going through each of the four elements.


	===Tool 2 - Stakeholder Mapping===		===Tool 2 - Stakeholder Mapping===
			----
	''Written by Björgvin''		''Written by Björgvin''

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	====Benefits and limitations====		====Benefits and limitations====
	Stakeholder mapping provides “..highly visual representations of complex situations,"<ref name="Walker">Walker, D. H., Bourne, L. M., & Shelley, A. (2008). Influence, stakeholder mapping and visualization. ''Construction management and economics'', 26(6), 645-658.</ref> that creates and overview and consensus about e.g. the boundries of the system or insights into stakeholder caracteristics or relations. The map however only provides a view within the set scope to a varying detail, where too complex a mapping can cause confusion and too simple, not show the full picture.		Stakeholder mapping provides “..highly visual representations of complex situations,"<ref name="Walker">Walker, D. H., Bourne, L. M., & Shelley, A. (2008). Influence, stakeholder mapping and visualization. ''Construction management and economics'', 26(6), 645-658.</ref> that creates and overview and consensus about e.g. the boundries of the system or insights into stakeholder caracteristics or relations. The map however only provides a view within the set scope to a varying detail, where too complex a mapping can cause confusion and too simple, not show the full picture.


	===Tool 3 - Power influence stakeholder grid===		===Tool 3 - Power influence stakeholder grid===
			----
	''Written by Hashim''		''Written by Hashim''
	====Definition====		====Definition====
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	====Benefits and limitations====		====Benefits and limitations====
	After the 3 steps, the stakeholders will be displayed into the 4 quadrants of the model. The four elements of the model are: "Keep Satisfied", "Manage closely", "Keep Informed", and "Motivate". Those quadrants tell the project manager how to proceed with each of the stakeholders in order to have a successfull project.		After the 3 steps, the stakeholders will be displayed into the 4 quadrants of the model. The four elements of the model are: "Keep Satisfied", "Manage closely", "Keep Informed", and "Motivate". Those quadrants tell the project manager how to proceed with each of the stakeholders in order to have a successfull project.


	===Tool 4 - Bubble diagram===		===Tool 4 - Bubble diagram===
			----
	''Written by Tobias''		''Written by Tobias''

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	It is easy and fast to understand.		It is easy and fast to understand.
	It does come with the weakness that it requires data that can contain errors and be hard to quantify.		It does come with the weakness that it requires data that can contain errors and be hard to quantify.


	===Tool 5 - Competency mapping===		===Tool 5 - Competency mapping===
			----
	''Written by Björgvin''		''Written by Björgvin''

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	====Benefits and limitations====		====Benefits and limitations====
	Competency mapping provides a frame for matching expectations between businesses and employees and overview of how things are and what has to be done. The limitations of competency mapping lay in the lack of guidance on how to act on those insights <ref name="Yuvaraj"/>.		Competency mapping provides a frame for matching expectations between businesses and employees and overview of how things are and what has to be done. The limitations of competency mapping lay in the lack of guidance on how to act on those insights <ref name="Yuvaraj"/>.


	===Tool 6 - RACI Chart===		===Tool 6 - RACI Chart===
			----
	''Written by Erik''		''Written by Erik''

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	''"You choose if the responsible or the accountable plans the task. The consult role is unclear. The project manager and the person consulted need to decide whether the consulted will only give direction when asked or whether they will offer direction when they feel it is suitable, and make sure their input is implemented."''		''"You choose if the responsible or the accountable plans the task. The consult role is unclear. The project manager and the person consulted need to decide whether the consulted will only give direction when asked or whether they will offer direction when they feel it is suitable, and make sure their input is implemented."''


	===Tool 7 - Porter's Five Forces of Competitive Position Analysis===		===Tool 7 - Porter's Five Forces of Competitive Position Analysis===
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	''Written by Erik''		''Written by Erik''

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	The tool is designed for use on a macro-level. Using the model for an individual firm is not recommended.		The tool is designed for use on a macro-level. Using the model for an individual firm is not recommended.


	=== Tool 8 - Roadmapping in Program Management ===		=== Tool 8 - Roadmapping in Program Management ===
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	''Written by Jacob''		''Written by Jacob''

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	The main limitation on the other hand of roadmapping is that it takes a lot of work to make and is generally a resource heavy process. To create an excellent roadmap, a full understanding of the organization and environment is needed and usually requires involvement of high-level stakeholders. Another pitfall of roadmaps is that they can become too specific or detailed, making it harder to interpret for the target audience.		The main limitation on the other hand of roadmapping is that it takes a lot of work to make and is generally a resource heavy process. To create an excellent roadmap, a full understanding of the organization and environment is needed and usually requires involvement of high-level stakeholders. Another pitfall of roadmaps is that they can become too specific or detailed, making it harder to interpret for the target audience.


	===Tool 9 - Decision-making Hierarchy===		===Tool 9 - Decision-making Hierarchy===
			----
	''Written by Breno''		''Written by Breno''

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	According to PMI standard<ref name="PMIportfolio">PMI. (2017). ''The Standard for		According to PMI standard<ref name="PMIportfolio">PMI. (2017). ''The Standard for
	PORTFOLIO MANAGEMENT''. Project Management Institute.</ref> it is stated that: "...it is important that decision-making responsibility is at the level where competence, accountability, and authority reside. There are complexities to this approach. For example, in organizations where employees are not ultimately accountable for their actions or are not made to feel accountable for their actions, there will be a greater need for controlling practices. In other circumstances, an experienced and respected component manager and team may be given greater autonomy and decisio-making powers than is typically given to component managers at a similar level."		PORTFOLIO MANAGEMENT''. Project Management Institute.</ref> it is stated that: "...it is important that decision-making responsibility is at the level where competence, accountability, and authority reside. There are complexities to this approach. For example, in organizations where employees are not ultimately accountable for their actions or are not made to feel accountable for their actions, there will be a greater need for controlling practices. In other circumstances, an experienced and respected component manager and team may be given greater autonomy and decisio-making powers than is typically given to component managers at a similar level."


	===Tool 10 - BCG Matrix===		===Tool 10 - BCG Matrix===
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	''Written by Breno''		''Written by Breno''

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	====Benefits and limitations====		====Benefits and limitations====
	The benefit of the BCG Matrix is it´s relative simplicity to be understood. It´s visualization is also one advantage that permits rapid and clear interpretation once it is understood. Since it is made with only two axis, there are only two variables to be reflected about. However, this is also a disadvantage, because projects have more variants than only relative market share and market growth rate. Another disadvantage to be considered is that in order for it to be made, different members from different departments must be present and agree while developing the matrix, otherwise it will not become a reliable matrix and decisions will further lead the company to failure. In addition, the placing of the projects considering the both axis is considered to have a high percentage of subjectivity, which is why the "BCG Matrix" is not considered as a common tool to be applied among the literature.		The benefit of the BCG Matrix is it´s relative simplicity to be understood. It´s visualization is also one advantage that permits rapid and clear interpretation once it is understood. Since it is made with only two axis, there are only two variables to be reflected about. However, this is also a disadvantage, because projects have more variants than only relative market share and market growth rate. Another disadvantage to be considered is that in order for it to be made, different members from different departments must be present and agree while developing the matrix, otherwise it will not become a reliable matrix and decisions will further lead the company to failure. In addition, the placing of the projects considering the both axis is considered to have a high percentage of subjectivity, which is why the "BCG Matrix" is not considered as a common tool to be applied among the literature.


	== References ==		== References ==
	<references />		<references />

S144069: /* Conclusion */

2020-03-06T12:20:26Z

Conclusion

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	====Benefits and limitations====		====Benefits and limitations====
	The benefit of the BCG Matrix is it´s relative simplicity to be understood. It´s visualization is also one advantage that permits rapid and clear interpretation once it is understood. Since it is made with only two axis, there are only two variables to be reflected about. However, this is also a disadvantage, because projects have more variants than only relative market share and market growth rate. Another disadvantage to be considered is that in order for it to be made, different members from different departments must be present and agree while developing the matrix, otherwise it will not become a reliable matrix and decisions will further lead the company to failure. In addition, the placing of the projects considering the both axis is considered to have a high percentage of subjectivity, which is why the "BCG Matrix" is not considered as a common tool to be applied among the literature.		The benefit of the BCG Matrix is it´s relative simplicity to be understood. It´s visualization is also one advantage that permits rapid and clear interpretation once it is understood. Since it is made with only two axis, there are only two variables to be reflected about. However, this is also a disadvantage, because projects have more variants than only relative market share and market growth rate. Another disadvantage to be considered is that in order for it to be made, different members from different departments must be present and agree while developing the matrix, otherwise it will not become a reliable matrix and decisions will further lead the company to failure. In addition, the placing of the projects considering the both axis is considered to have a high percentage of subjectivity, which is why the "BCG Matrix" is not considered as a common tool to be applied among the literature.

	~~== Conclusion ==~~

	== References ==		== References ==
	<references />		<references />

S144069: /* Tool 10 - BCG Matrix */

2020-03-06T12:18:12Z

Tool 10 - BCG Matrix

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	''Written by Breno''		''Written by Breno''

	[[File:TeamSted_BCG_DIAGRAM.png\|thumb\|Figure 8: Example of BCG Matrix template - Made by TeamSted]]		[[File:TeamSted_BCG_DIAGRAM.png\|thumb\|Figure 9: Example of BCG Matrix template - Made by TeamSted]]

	====Definition====		====Definition====
	The BCG Matrix (Boston Consultant Group) is a world wide known tool that is manly applied for consideration of products, however it can also be used as a tool when trying to visualize a company`s project portfolio. The matrix consists of 4 quadrants, each of those represent a state the project is currently in. Therefore a skeptical look must be applied. Different views from distinct people from all of the company`s departments should be considered in order to create an accurate Matrix. The horizontal axis of the matrix correspond to the "Relative market share", and the vertical axis is the "Market growth rate" of the considered projects. An example of BCG Matrix can be seen on the Figure 8, and as shown, the 4 different quadrants are defined as: "Question Marks", "Stars", "Cash Cows" and "Poor Dogs".		The BCG Matrix (Boston Consultant Group) is a world wide known tool that is manly applied for consideration of products, however it can also be used as a tool when trying to visualize a company`s project portfolio. The matrix consists of 4 quadrants, each of those represent a state the project is currently in. Therefore a skeptical look must be applied. Different views from distinct people from all of the company`s departments should be considered in order to create an accurate Matrix. The horizontal axis of the matrix correspond to the "Relative market share", and the vertical axis is the "Market growth rate" of the considered projects. An example of BCG Matrix can be seen on the Figure 9, and as shown, the 4 different quadrants are defined as: "Question Marks", "Stars", "Cash Cows" and "Poor Dogs".

	====Practical guidelines====		====Practical guidelines====

S144069: /* Tool 9 - Decision-making Hierarchy */

2020-03-06T12:17:55Z

Tool 9 - Decision-making Hierarchy

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	''Written by Breno''		''Written by Breno''

	[[File:Analytic_Hierarchy_Process_(AHP).jpg\|thumb\|Figure 7: Analytic Hierarchy Process (AHP) - Made by TeamSted]]		[[File:Analytic_Hierarchy_Process_(AHP).jpg\|thumb\|Figure 8: Analytic Hierarchy Process (AHP) - Made by TeamSted]]
	====Definition====		====Definition====
	The decision-making hierarchy is an approach that is considered to be an important factor when designing portfolio governance practices.		The decision-making hierarchy is an approach that is considered to be an important factor when designing portfolio governance practices.
	====Practical guidelines /how to====		====Practical guidelines /how to====
	To meet the desired objectives, the portfolio governance has to develop a decision-making hierarchy based on organizational governance principles, in order to reduce the risk of component failure and prejudice the success of the portfolio. An example of decision-making hierarchy tool is the Analytic Hierarchy Process (AHP), which can be seen on Figure 7. To apply the AHP a clear goal must be defined in the begining, and then the following criterias for that goal should be designated and later the alternatives containing those criteria should be raised. With this tool it is possible to analyse diferent alternatives to reach the desired goal, by applying different weights for each criteria.		To meet the desired objectives, the portfolio governance has to develop a decision-making hierarchy based on organizational governance principles, in order to reduce the risk of component failure and prejudice the success of the portfolio. An example of decision-making hierarchy tool is the Analytic Hierarchy Process (AHP), which can be seen on Figure 8. To apply the AHP a clear goal must be defined in the begining, and then the following criterias for that goal should be designated and later the alternatives containing those criteria should be raised. With this tool it is possible to analyse diferent alternatives to reach the desired goal, by applying different weights for each criteria.
	====Benefits and limitations====		====Benefits and limitations====
	According to PMI standard<ref name="PMIportfolio">PMI. (2017). ''The Standard for		According to PMI standard<ref name="PMIportfolio">PMI. (2017). ''The Standard for

S144069: /* Definition */

2020-03-06T12:16:51Z

Definition

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	====Definition====		====Definition====
	[[File:TeamSted_roadmap.PNG\|thumb\|Figure 8: Example of a roadmap - Made by TeamSted]]		[[File:TeamSted_roadmap.PNG\|thumb\|Figure 7: Example of a roadmap - Made by TeamSted]]
	Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.		Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.
	The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.		The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.

S144069: /* Definition */

2020-03-06T12:16:22Z

Definition

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	====Definition====		====Definition====
	[[File:TeamSted_roadmap.PNG]]		[[File:TeamSted_roadmap.PNG\|thumb\|Figure 8: Example of a roadmap - Made by TeamSted]]
	Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.		Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.
	The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.		The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.

S144069: /* Definition */

2020-03-06T12:15:07Z

Definition

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	====Definition====		====Definition====
			[[File:TeamSted_roadmap.PNG]]
	Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.		Technology roadmapping refers to the process of visual planning on multiple layers such as: Marketing, product or development. By compiling a time-based chart, alignment of previous layers can be achieved towards one integrated planning approach. Typically the roadmap is done by a group of people within a company through work-shopping.
	The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.		The method of technology roadmaps were first recognized in the 1970s in use by Motorola in an effort to integrate their technology and product development/planning. Since then, many different variations and versions of the roadmap has been developed for different purposes like service/capability and knowledge assets. However, all types of roadmaps share the common central idea of forecasting the effects of certain elements into future or past goals. All types also use three categories for layers of planning: Resources perspective of technologies/resources, delivery perspective of products/services/systems and purpose perspective such as strategic objectives/markets/business.

Hashimhameed at 12:14, 6 March 2020

2020-03-06T12:14:29Z

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Hashimhameed: /* Practical guidelines */

2020-03-06T12:13:07Z

Practical guidelines

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	In order to use the Porter's Five Forces of Competitive Position Analysis you need to identify the five forces.		In order to use the Porter's Five Forces of Competitive Position Analysis you need to identify the five forces.
	<br>The five forces are:		<br>The five forces are:
	* '''1. Supplier power:''' An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.		* '''1. Supplier power:''' "An assessment of how easy it is for suppliers to drive up prices. This is driven by the: number of suppliers of each essential input; uniqueness of their product or service; relative size and strength of the supplier; and cost of switching from one supplier to another.
	* '''2. Buyer power:''' An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.		* '''2. Buyer power:''' An assessment of how easy it is for buyers to drive prices down. This is driven by the: number of buyers in the market; importance of each individual buyer to the organisation; and cost to the buyer of switching from one supplier to another. If a business has just a few powerful buyers, they are often able to dictate terms.
	* '''3. Competitive rivalry:''' The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.		* '''3. Competitive rivalry:''' The main driver is the number and capability of competitors in the market. Many competitors, offering undifferentiated products and services, will reduce market attractiveness.

Hashimhameed: /* Tool 6 - RACI Chart */

2020-03-06T12:12:27Z

Tool 6 - RACI Chart

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	''"This tool explains each person’s role, but the necessary action(s) for each role can be unclear. Some feel that it’s not clear whether the responsible or accountable plans the task. With that being said, you could look at RACI in this way – apply the matrix as deemed necessary."		''"This tool explains each person’s role, but the necessary action(s) for each role can be unclear. Some feel that it’s not clear whether the responsible or accountable plans the task. With that being said, you could look at RACI in this way – apply the matrix as deemed necessary."

	"You choose if the responsible or the accountable plans the task. The consult role is unclear. The project manager and the person consulted need to decide whether the consulted will only give direction when asked or whether they will offer direction when they feel it is suitable, and make sure their input is implemented."''		''"You choose if the responsible or the accountable plans the task. The consult role is unclear. The project manager and the person consulted need to decide whether the consulted will only give direction when asked or whether they will offer direction when they feel it is suitable, and make sure their input is implemented."''

	===Tool 7 - Porter's Five Forces of Competitive Position Analysis===		===Tool 7 - Porter's Five Forces of Competitive Position Analysis===