(Vasudha Chhotray and Stoker, 2010) define corporate governance as, “Governance is about the rules of collective decision-making in settings where there is a plurality of actors or organizations and where no formal control system can dictate the terms of the relationship between these actors and organizations”[1]. The Australian Stock Exchange[2] publishes a list of principles for corporate governance which can also be applied to 3P (project, program, and portfolio) governance.

Maturity has various meanings but from an organizational sense, it is the ability of the organization to act on its experience, to learn, change and improve, essentially what is known as the learning organization[1]. Maturity is seen as being the integration of attitude, knowledge, and action across the management of projects, programs and portfolios. A more mature organization does have a higher rate of project success.

“The central hypothesis behind the OPMM is that an organization’s ability to manage projects successfully can be assessed by analyzing key attributes that define how well project management is being carried out”[2]. OPMM is a 4-level model used to communicate maturity. The 4 stages of OPMM are:

Positive impact investments are investment approaches that seek benefits on both; eco-social and financial fronts at the same time. Business sustainability 4.0 is not only about surviving, making profit and growth but also encompasses social, environment and spiritual development of humanity. Issues such as climate change, social justice, inequality, global poverty, etc. have negative environmental and social consequences that directly affect the operating environments of any organization.

Corporate culture has taken positive impact investments into consideration especially since the implementation of both 17 Sustainable Development Goals (SDGs)[1] of the United Nations and the Paris climate accord (COP21)[2] has become an unavoidable obligation for businesses. Portfolio management frameworks today are not capable of taking Impact investments into consideration. Also, no systematic approach is proliferated to connect strategy, culture, impact, and investments from an organization’s perspective[3].

Vision for an organization is, “what the person, team or organization wants to create in its best possible future. It is an evocative description of what is possible. A vision is not “something out there” that is impractical, but a way of setting a compelling scenario. Creating this image of the future requires the ability to expand one’s sense of possibilities and then focus on what new initiatives can lead to success”[1].

Well, I just had to write about this since people in general and some, in particular, like to regurgitate the same things again and again. Regurgitating[1], of course, adds value for yourself if you are going to learn and practice but it adds little value to the already existing knowledgebase. Internet especially because of its open nature is a place where regurgitating ideas and information happens on a much larger scale. Sometimes they are just clickbait[2] and sometimes they are outright wrong in the information that is being presented.

Vision and mission statements are very important in setting the organizational culture and leadership values in any organization. The organizational aspirations are valued by the vision statements whereas the mission statements put the vision in the context of the business environment and push the organization to execute for the achievement of that vision. In simple words, “a vision is what the company aspires to BE, and mission is what the company is in the business to DO”[1].

According to the University of Manchester, " Academics generally work within a university, combining research, teaching and administrative duties. Academics are the life-blood of a university, without whom the institution would not exist"[1]. Academics have a very systematic approach to research which provides lots of benefits when it comes to the introduction or evolution of new/existing concepts and/or processes. The way academics detail out each and every aspect of a subject under consideration is amazing. Exceptions are taken care of from an academic perspective and most of the corner cases are covered in the research subject.

Leadership has to be one of the key critical factors for the successful implementation of the Benefits Realization Plan (BRM) in any organization. Delegation of responsibilities as well as delegating the needed rights to carry on the successful implementation of the BRM needs flexibility; trust & faith as well as blessings of leadership on all levels. A benefits champion ideally should be a group of individuals from various departments who are more involved with the strategy and business side of the organization. A benefits steering group can be formed which should be directly responsible for not only the BRM but also effective execution of the same with the project management office (PMO) and/or portfolio management teams.