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Establishing a Governance Model for Strategic Portfolio Management
J. LeRoy Ward, PMP, PgMP, CSM, PfMP
The essence of portfolio management is decision making. The organization, through its key executives, needs to decide what projects, programs, and other initiatives to invest in, delay, defer, terminate, change, or modify to meet its strategic objectives. It needs to make these decisions in accordance with a structured and systematic set of rules and criteria so that they are made rationally and logically, based on data and not exclusively on "gut feel." Most importantly, portfolio decisions must be made with due deliberate speed to take advantage of market-moving news and events. To do so requires a streamlined, customized approach, known as Portfolio Governance Management that works with, and not fights against, the culture and best interests of the organization. One definition of Portfolio Governance Management is "the structure and exercise of authority for the initiatives and the portfolios within the portfolio management domain, which defines and enables decision making; assesses metrics on initiatives value and alignment with business strategy; and is responsible for effective and legitimate oversight for the contributions to business success of these initiatives and portfolios" (Hanford, 2006, p. 10). Portfolio Governance Management is based on, and is a manifestation of, a Governance Model, the subject of this article.
Ready Technology Trends
Stephen J. Andriole
It is hard to imagine anyone handing out heavy Wintel monsters to employees in ﬁve years. Devices will get smaller, faster, and smarterﬁnally killing oﬀ the "fat clients" of the 1980s, 1990s, and early 2000s. Wikis, blogs, mash-ups, social networks, RSS ﬁlters, crowdsourcing, virtual worlds, automated pricing, and intelligent supply chains will deﬁne the future. Many companies, even the largest ones, will move toward open-source software solutions. Business intelligence (BI) is a strategic investment everyone will make. The era of ﬁxed-location computing is over, and just about everyone is already renting software over the Web. Ultimately, we will all move to the cloud.
How will these and related trends deﬁne our technology future?
Overview of Information Security and Compliance: Seeing the Forest for the Trees
Michael R. Overly
Businesses today are faced with the almost-insurmountable task of complying with a confusing array of laws and regulations relating to data privacy and security. These can come from a variety of sources: local, state, national, and even international lawmakers. Information security standards not only are established through laws and regulations but also may be created by contractual standards such as the Payment Card Industry Data Security Standard (PCI DSS) and even common industry standards for information security published by organizations like the Computer Emergency Response Team (CERT) at Carnegie Mellon, and the families of standards from the International Organization for Standardization (ISO). In many instances, laws and regulations are vague and ambiguous, with little specific guidance regarding compliance. Worse yet, the laws of different jurisdictions may be, and frequently are, conflicting. One state or country may require security measures that are entirely different from those of another state or country. Reconciling all of these legal obligations can be, at best, a full-time job and, at worst, the subject of fines, penalties, and lawsuits.
Oracle's Agile Product Lifecycle Management (PLM)
Oracle's Agile Product Lifecycle Management (PLM) enables the organization to manage the complete life cycle of a product: from the ideation phase through to recycling and retirement. Most importantly, Agile Product Lifecycle Management focuses on process efficiency, rapid innovation, cross-functional collaboration, closed-loop quality control, risk mitigation, and cost effectiveness. As shown in Figure 1, Oracle's PLM product line consists of four components.