About this Presentation
One of the largest turbine manufacturers in the world had a very promising five-year portfolio that consisted of over 100 programs, 1000's of projects, with each project composed of a number of phases. A year into that five-year portfolio, management realized that some of the projects required were facing significant delays and they needed to identify corrective actions. For managers in a project environment VUCCA, or Volatility, Uncertainty, Complexity, Constraints and Ambiguity, are the main reasons why it is so hard to make reliable commitments. Then there is also significant non-linearity between changes and their impact. That is why GRL created a completely self-configurable simulation model to help managers overcome this challenge, Project Portfolio Digital Twin. Using their digital twin they were able to test the following scenarios: Scenario 1: Continue using traditional project management rules; Scenario 2: Implement CCPM and control WIP at the project level; Scenario 3: Implement CCPM and control WIP at the program level; and Scenario 4: Implement CCPM and control WIP with a hybrid rule. Analyzing the results enabled the company to identify which change in project planning and execution rules would have the largest positive impact on performance and profitability. Video length: 48:09. PDF: 33 slides.
What Will You Learn
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Instructor(s)
Dr Alan Barnard
Dr. Alan Barnard is a leading decision scientist and Theory of Constraints (TOC) expert with almost 20 years of experience working directly with Dr. Eli Goldratt, the creator of TOC. As the CEO of Goldratt Research Labs (USA), Alan focuses on using advanced technologies and decision sciences to develop Apps and Decision Support methods, enabling organizations to achieve more with less time. Under his leadership, Goldratt Research Labs has collaborated on innovation and research projects with renowned Fortune 500 companies like Microsoft, Cargill, BHP, Tata Steel, Amazon, and others, along with public sector organizations like Utah Governor's Office and UN WFP. Alan has held prominent roles in various organizations, including past-President of the South African Supply Chain Society SAPICS and past-President of TOCICO. His significant contributions have been recognized through prestigious awards, including inclusion in the 2020 Marquis Who's Who Global Listing, membership in the Forbes Technology Council, and the TOCICO Lifetime Achievement Award. He is an accomplished author and frequent presenter on Decision Making in a Complex World and Theory of Constraints at international conferences. Alan's latest book, "The Bottleneck - How to resolve our attention crisis," is currently in progress. As the chief architect of the award-winning HARMONY Decision Maker, Change Simulator, and Change Maker series of Decision Support Apps, Alan continues to shape the landscape of decision science and TOC. Please let me know if you need any further information or details.