PPM in the NHS - considerations when deploying Strategic Portfolio Management

"Transparency is the key to accountability, and NHS trusts must have full visibility on all their investments to ensure responsible stewardship of public funds."

By using PPM, and its embedded SPM (Strategic Portfolio Management) capabilities, NHS Trusts can take a strategic view over all of the projects they are doing. I would list here where Strategic Portfolio Management plays, and?some of the reasons SPM (as part of PPM) is a beneficial platform for NHS Trusts.:

1. Alignment with organizational goals: A strategic view allows NHS Trusts to ensure that all projects are aligned with its organisational goals and objectives. SPM will help to ensure that all projects contribute towards the Trust's overall mission and vision, rather than working in isolation.
2. Resource allocation: By taking a strategic view, NHS Trusts can ensure that resources, such as staff, funding, and equipment, are allocated effectively to all projects. SPM will help to prevent overspending or under utilisation of resources, as well as ensure that all projects have access to the resources they need to succeed.
3. Risk management: A strategic view allows NHS Trusts to identify and manage risks associated with all projects. SPM will help to minimize potential negative impacts on patients, staff, and the organisation as a whole.
4. Prioritisation of projects: With a strategic view, NHS Trusts can prioritize projects based on their potential impact, urgency, and alignment with organizational goals. SPM will help to ensure that the most critical and impactful projects are given priority, while less important projects are given lower priority or deprioritized.
5. Collaboration and coordination: By taking a strategic view, NHS Trusts can ensure that all projects are coordinated and aligned with each other, where appropriate. SPM will help to promote collaboration between teams, prevent duplicative efforts, and ensure that resources are used efficiently across projects.
6. Investment Planning: Bt taking a strategic view, NHS Trusts can gain a full and complete view, the Trusts Leadership Team can gain visibility of how the Trust is investing in the future. SPM can help to identify where funding sources are derived from, how spending is progressing against those funds, and where underspend and overspend are likely to occur.
7. Monitoring and evaluation: A strategic view allows NHS Trusts to monitor the progress of all projects and evaluate their success against predetermined goals and objectives. SPM will help to identify areas for improvement and make adjustments as necessary to ensure that projects are on track to achieve their intended outcomes.

?

Here is a list of project types that different NHS trusts are already doing in Cora SPM:

1. Clinical service improvement projects: Projects focused on improving clinical services offered by the NHS trust, such as reducing waiting times for patients, improving patient outcomes, and enhancing the quality of care.
2. Capital projects: Projects related to the construction, refurbishment, and maintenance of NHS facilities, such as hospitals, clinics, and other healthcare facilities.
3. IT projects: Projects related to the implementation, upgrade, and maintenance of IT systems used by the NHS, such as electronic health records, patient booking systems, and telemedicine solutions.
4. Process improvement projects: Projects focused on streamlining and improving administrative processes within the NHS, such as reducing administrative burden, improving staff productivity, and enhancing patient experience.
5. Research projects: Projects focused on conducting research to develop new treatments, therapies, and medical technologies, with the aim of improving patient outcomes and advancing medical knowledge.
6. Training and education projects: Projects focused on providing training and education to NHS staff, such as training programs for nurses, doctors, and other healthcare professionals, to improve the quality of care provided by the NHS trust.

Having a single view in SPM of all of the investments and initiatives being undertaken by an NHS Trust is beneficial in several ways, including:

1. Better resource management: A single view can help NHS Trusts to better manage resources, including staff, budgets, and equipment, ensuring that they are allocated effectively to all projects.
2. Improved decision-making: By having a complete view of all projects, NHS Trusts decision-makers can make informed decisions regarding project priorities, resource allocation, and risk management.
3. Increased transparency: A single view can provide transparency into the progress of all projects, enabling stakeholders to track project performance and identify potential issues.
4. Enhanced collaboration: A single view can promote collaboration between different NHS Trust departments and teams, allowing for effective communication, sharing of information, and coordination of activities.
5. Increased efficiency: A single view can help to identify duplicative efforts and potential synergies between projects, enabling NHS Trusts?to streamline operations and improve overall efficiency.
6. Better Cash Management: NHS Trusts?would gain a single view from both a Top Down and Bottom Up perspective on all of the investments being made across the Trust.

In summary, taking a strategic view over all of the projects an NHS Trust is doing can help to ensure that resources are allocated effectively, risks are managed, and projects are aligned with organizational goals and objectives. This will lead to more efficient and effective use of resources, better outcomes for patients, and a stronger overall performance for the Trust.

WHY CONSIDER CORA PPM & SPM (www.corasystems.com)

There are several reasons why someone might want to consider Cora PPM over the alternative options:

Unique features: Cora PPM offers features & capabilities that are not available in other tools, which would make it a better fit for your organization's needs.

Ease of use: Cora PPM is more user-friendly and easier to learn than other tools, making it a much more attractive option for organizations with limited training resources, larger user communities, or higher levels of staff turnover.

Customization & Configuration options: Cora PPM allows for more customization and configuration flexibility than other tools, which is a major advantage for organizations with specific or unique requirements.

Strong customer support: Cora offers excellent customer support, including training, onboarding, and ongoing technical assistance on a 7x24x365 basis, which would make your PPM tool a more appealing choice for organizations that value a high level of support and may need it to support global teams

If you would like to discuss Cora PPM, and our SPM (Strategic Portfolio Management) please drop me a note.?

Alan Crean | Project Financials, Systems, & Technologies Specialist?|?Cora?|[email protected]