About this Presentation
There are two distinct components of Project Portfolio Management - Portfolio Planning, and Portfolio Execution, and most organizations do neither well. The Theory of Constraints has historically addressed the Execution side while giving scant attention to the planning side. But if throughput (of money or goal units) is the objective, we must address and master the Planning side. Which projects should we select, and which should we reject? How do we prioritize projects for insertion into our pipelines? What does the Portfolio Management Team look like? Who are its members? What are the processes involved for superior Planning? Project Portfolio Management the TOC Way is the result of real-life experience and full utilization of TOC principles and the TOC Thinking Processes. You can learn how to master both the Planning and the Execution of your project portfolios.
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
Project Portfolio Management (PPM) using the Theory of Constraints (TOC) approach can greatly improve the effectiveness of project execution and governance.
In a multi-project environment, the focus should be on optimizing the organization rather than individual projects. This involves managing resources in real time, staggering project start times, and focusing on buffer consumption across the portfolio.
The intake process for new projects should be streamlined and standardized, with a scoring system to determine project priority based on various factors such as compliance, strategic alignment, business process impact, and risk mitigation.
Instructor(s)
David Updegrove
David Updegrove is a 35-year practitioner of the Theory of Constraints and is a member of TOCICO’s Board of Directors. David began his career in storekeeping, production control, and industrial engineering spanning 20 years at the Boeing Company. In 1988 he first implemented Drum-Buffer-Rope for Boeing Microelectronics, achieving remarkable results. This was followed by implementations in Printed Circuit Board Fabrication, Sheet Metal and Extrusion, and other areas. He became an internal consultant at Boeing and trained a large number of engineers on the principles of TOC. In early 2000, David left Boeing to become an independent TOC consultant. He has taught, implemented, and trained leaders in all aspects of TOC all around the world and in multiple different industries. He worked with Dr. Eli Goldratt the last few years of his life. David is the author of two books, The Critical Chain Implementation Handbook, published in 2014, and Breakthrough to Clear Thinking and Innovation, published in 2022. He has also written many articles and papers for the TOC community and beyond.
Ms Alka Wadhwa
Alka Wadhwa is an experienced consultant and process improvement expert with over 24 years of expertise in the Theory of Constraints (TOC), Lean Six Sigma, and organizational performance optimization. She has successfully led projects in healthcare, financial services, and manufacturing, driving significant improvements such as a 67% boost in hospital operations and a 140% increase in outpatient visits.
Previously, Alka Wadhwa spent 17+ years at GE Global Research Center, where she led initiatives to enhance various GE businesses through advanced technologies, process redesign, and system optimization. Founder of Better Solutions Consulting, LLC, she specializes in using TOC, Six Sigma, and data analytics to streamline operations and build high-performance teams.
Her work has earned her multiple accolades, including the Empire State Award of Excellence in healthcare.
Dr Gary Wadhwa
Dr. Gary Wadhwa is a Board Certified Oral & Maxillofacial Surgeon with extensive experience in the field. He completed his Oral & Maxillofacial Surgery training at Montefiore Hospital, Albert Einstein College of Medicine in Bronx, NY, and has served as an Attending at prestigious institutions like St. Peters Hospitals, Ellis Hospital, and Beth Israel Hospital in NY. With a career spanning over two decades, he was the former CEO and President of a group specialty practice in NY from 1994 to 2015. Dr. Wadhwa holds an MBA from UT at Knoxville, TN, and has undergone additional training in System Dynamics at MIT, Health System Management at Harvard Business School, and Entrepreneurship and healthcare innovations at Columbia Business School. Committed to expanding access to Oral & Maxillofacial Surgery care, he is currently engaged in a meaningful project to provide healthcare services to underserved populations in inner city and rural areas through non-profit Community Health Centers.