Rating: 
Summary: For IT Managers Only!
Review: If you are a senior manager/general manager this book is not for you. If you are an IT manager, you will probably enjoy it. Chapters 5 and 6 are much too detailed for non-IT managers.This book is listed under "strategic organizational change." If that is what you are looking for, checkout Kotter, Beitler, Black & Gregerson, Collins, etc.
Rating: 
Summary: Good book on balancing the project portfolio thru process
Review: Many organizations approve any project that sounds like "a good idea". This "soda straw" perspective is a sure way to over-task people, make project cost and delivery unpredictable, and ensure a poor reputation for the organization executing projects. While business leaders do not set out to cripple and distract their organizations, the lack of an institutionalized process frequently yields poor results. While this book addresses the narrow space of project alignment with organizational objectives, the authors propose a framework and tools that organizations with the commitment to follow it through can use to get optimum results from their project portfolio. Specifically, the approach offered by the authors helps organizations align their project portfolio with corporate objectives, align individual projects with one another, and enable organizational flexibility.
The process provides a certain rigor, but those seeking to implement this process in their organization should consider 1) first implementing a functional basic project portfolio management process, 2) ensuring that the process proposed in this book is a good match to their organizational culture, and 3) that in implementing this process they do not over-engineer their project portfolio management process.
Those proposing this process for adoption, or who are conducting a project portfolio alignment workshop, may wish to visit the book Website (HBSP), which has Microsoft PowerPoint slide presentations and graphics available for download. This Website is a useful adjunct to the book.
This is a useful book for project portfolio managers in organizations who want more rigor in their project portfolio management process. Utility of the Information
The value of the book, in my view, lies in the following attributes:
* The authors present complex ideas in an easy-going, not scholarly style, making the book easy to read. They use graphics to communicate concepts like frameworks and tools, and they employ a case-study approach to illustrate application.
* The framework consisting short- and long-term objectives along with organizational trait objectives provides for a balanced perspective.
* The alignment tools provide an approach to view projects in a portfolio view. This allows the portfolio management team to align projects and the portfolio with organizational direction, improve project efficiency, manage risks, and achieve flexibility.
* The framework and tools consciously align the project portfolio with organizational goals, bringing focus to the portfolio.
* Workshop attendees can use the tools to gain fresh a perspective of projects instead of a traditional, organizational alignment point of view where, say, projects are always associated with the division who sponsors the projects.
* Incorporates a change management perspective by asking how much change an organization can digest in a given time period.
* Supports and promotes program management by forcing analysis of the interdependencies of projects and project deliverables.
* Supports and promotes spiral (iterative development) through the "project chunking" perspective.
* Aids the risk management process by balancing project benefits versus risks in the project proposal and review process.
* Portfolio managers or teams can apply the framework and tools in a step-by-step fashion, reducing anxiety about "how to eat the elephant". This stepwise approach supports workshop breakout sessions. Application of the Framework and Tools
Several questions arise when one considers if one can apply an authors approach to solving business problems; is the approach practicable. Position of the Framework in the Larger Project Portfolio Management Context
If the project portfolio management process includes 1) understanding supply and demand (people, money and projects), alignment of decision boards with authority, project assessment, and continuous process improvement (IPS Associates and Stanford APM), this framework fits toward the end of that process spectrum. This book does not describe the overall project portfolio management process, or how to implement project portfolio management in an organization. This book really answers the question "Now that I have a project portfolio management process in place, how do I mature my portfolio alignment and balance process?" Feasibility, Suitability and Acceptability
For organizations which have implemented project portfolio management and wish for more rigor in the project-business alignment sub-process, this book is a credible offering. One would expect that if a portfolio management team applied all the tools in this book to their portfolio that the result would be 1) a considerable time investment and 2) a better aligned portfolio. The portfolio management team must therefore be willing to take the time to 1) learn several tools and 2) apply the tools in a step-wise and iterative fashion over time.
The framework, tools and examples emphasize application in a business (for profit) context. Practitioners in governmental or other not for profit organizations will need to critically review, tailor and possibly adapt the framework and tools to their purposes.
Organizations with a small number of projects and who have portfolio management team members who are more inclined to make decisions quickly, who are not possessed with an engineering or analytical mindset may think that they do not need or have the patience for such a process. Team members may respond to this approach saying "I'll just use my business experience and common sense to achieve balance in my portfolio". While this statement may or may not be true, I would expect this response in some cultures. One approach to this may be for the portfolio management support office to compile the data, apply the tools, and make a staff recommendation to the portfolio management team for decision.
While the authors bring both academic (McFarlan is a professor) and business experience (Benko is a consultant) to this book, they cite no studies to support the effectiveness of their approach. Therefore, organizations which require empirical evidence of process effectiveness before accepting or implementing a new business process may be resistant to implementing this process. References, Footnoting and Bibliography
This book is well referenced, footnoted and indexed. This increases the utility of the book for one who has first read and understood the book.
One can often tell when an academic was on the team of authors; the footnoting is excellent, and the Notes section (Benko and McFarlan 221-30) is a useful resource for exploring other sources of information for further research. Specifically, the notes section is ample at nine pages, the lexicon is helpful with three pages of content, and the index is well populated with nine pages of indexed words.
Rating:
Summary: Good book on balancing the project portfolio thru process
Review: Many organizations approve any project that sounds like "a good idea". This "soda straw" perspective is a sure way to over-task people, make project cost and delivery unpredictable, and ensure a poor reputation for the organization executing projects. While business leaders do not set out to cripple and distract their organizations, the lack of an institutionalized process frequently yields poor results. While this book addresses the narrow space of project alignment with organizational objectives, the authors propose a framework and tools that organizations with the commitment to follow it through can use to get optimum results from their project portfolio. Specifically, the approach offered by the authors helps organizations align their project portfolio with corporate objectives, align individual projects with one another, and enable organizational flexibility.
The process provides a certain rigor, but those seeking to implement this process in their organization should consider 1) first implementing a functional basic project portfolio management process, 2) ensuring that the process proposed in this book is a good match to their organizational culture, and 3) that in implementing this process they do not over-engineer their project portfolio management process.
Those proposing this process for adoption, or who are conducting a project portfolio alignment workshop, may wish to visit the book Website (HBSP), which has Microsoft PowerPoint slide presentations and graphics available for download. This Website is a useful adjunct to the book.
This is a useful book for project portfolio managers in organizations who want more rigor in their project portfolio management process. Utility of the Information
The value of the book, in my view, lies in the following attributes:
•The authors present complex ideas in an easy-going, not scholarly style, making the book easy to read. They use graphics to communicate concepts like frameworks and tools, and they employ a case-study approach to illustrate application.
•The framework consisting short- and long-term objectives along with organizational trait objectives provides for a balanced perspective.
•The alignment tools provide an approach to view projects in a portfolio view. This allows the portfolio management team to align projects and the portfolio with organizational direction, improve project efficiency, manage risks, and achieve flexibility.
•The framework and tools consciously align the project portfolio with organizational goals, bringing focus to the portfolio.
•Workshop attendees can use the tools to gain fresh a perspective of projects instead of a traditional, organizational alignment point of view where, say, projects are always associated with the division who sponsors the projects.
•Incorporates a change management perspective by asking how much change an organization can digest in a given time period.
•Supports and promotes program management by forcing analysis of the interdependencies of projects and project deliverables.
•Supports and promotes spiral (iterative development) through the "project chunking" perspective.
•Aids the risk management process by balancing project benefits versus risks in the project proposal and review process.
•Portfolio managers or teams can apply the framework and tools in a step-by-step fashion, reducing anxiety about "how to eat the elephant". This stepwise approach supports workshop breakout sessions. Application of the Framework and Tools
Several questions arise when one considers if one can apply an authors approach to solving business problems; is the approach practicable. Position of the Framework in the Larger Project Portfolio Management Context
If the project portfolio management process includes 1) understanding supply and demand (people, money and projects), alignment of decision boards with authority, project assessment, and continuous process improvement (IPS Associates and Stanford APM), this framework fits toward the end of that process spectrum. This book does not describe the overall project portfolio management process, or how to implement project portfolio management in an organization. This book really answers the question "Now that I have a project portfolio management process in place, how do I mature my portfolio alignment and balance process?" Feasibility, Suitability and Acceptability
For organizations which have implemented project portfolio management and wish for more rigor in the project-business alignment sub-process, this book is a credible offering. One would expect that if a portfolio management team applied all the tools in this book to their portfolio that the result would be 1) a considerable time investment and 2) a better aligned portfolio. The portfolio management team must therefore be willing to take the time to 1) learn several tools and 2) apply the tools in a step-wise and iterative fashion over time.
The framework, tools and examples emphasize application in a business (for profit) context. Practitioners in governmental or other not for profit organizations will need to critically review, tailor and possibly adapt the framework and tools to their purposes.
Organizations with a small number of projects and who have portfolio management team members who are more inclined to make decisions quickly, who are not possessed with an engineering or analytical mindset may think that they do not need or have the patience for such a process. Team members may respond to this approach saying "I'll just use my business experience and common sense to achieve balance in my portfolio". While this statement may or may not be true, I would expect this response in some cultures. One approach to this may be for the portfolio management support office to compile the data, apply the tools, and make a staff recommendation to the portfolio management team for decision.
While the authors bring both academic (McFarlan is a professor) and business experience (Benko is a consultant) to this book, they cite no studies to support the effectiveness of their approach. Therefore, organizations which require empirical evidence of process effectiveness before accepting or implementing a new business process may be resistant to implementing this process. References, Footnoting and Bibliography
This book is well referenced, footnoted and indexed. This increases the utility of the book for one who has first read and understood the book.
One can often tell when an academic was on the team of authors; the footnoting is excellent, and the Notes section (Benko and McFarlan 221-30) is a useful resource for exploring other sources of information for further research. Specifically, the notes section is ample at nine pages, the lexicon is helpful with three pages of content, and the index is well populated with nine pages of indexed words.
Rating:
Summary: Strong, simple decision making for your services portfolio
Review: The strength of this book is it's simplicity and graphical representation of decision frameworks. For most companies this is a strong tool for internal development planning and compliment to Six Sigma initiatives. For consultants, this can be used to plan your services portfolio. Well written and an enjoyable read.
Rating: 
Summary: A timely and useful book
Review: This book provided a useful framework for helping me think about the biggest challenge facing my company: growing the business while reducing costs. Connecting the Dots provides a unique approach by focusing on the project portfolio. Through greater alignment, organizations better focus on their goals while reducing costs through improved efficiency. It's a clever solution that breaks the logjam between growth and cost cutting that paralyzes a lot of organizations.
The other new idea which I liked was how the book thought about the future. With an interesting historical context, Benko and McFarlan basically recommend that companies should focus on "adapting not predicting." They counsel companies to build "traits" into their organization. These characteristics reflect the future of the networked economy. It will require most organizations to take some time to wrap their heads around the concept and translate it into tangible goals for the company but I have already begun experimenting with the concept.
Overall, the book gets you thinking about the importance of your project portfolio and how it can help you prepare for uncertainty. It then provides interesting tools and techniques for achieving greater alignment.
The book is an easy to read and engaging. It's written almost like Warren McFarlan's speeches. Lots of historical references and analogies. Moreover, the book doesn't "preach at you", rather it understands that each business has it's own context. And they reconginze that you don't need to adopt all their recommendations and techniques.
For conceptual thinkers, I'd skim chapters 5 and 6. They are for people who like to slog through the details. I found Chapter 1 was a great overview and Chapter 4 provided concise summaries of all the tools and techniques. If you are looking for a practical but novel approach to producing results, I recommend this book.
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