If you are trying to set up project portfolio management, you will run smack into a unique workforce problem. Use these tasks in your WBS to help manage three sensitive groups that participate in projects to establish PPM.
Many organizations fail to recognize that they are driving significant change to a PM’s job--and even fewer do anything to try and make the transition a constructive one. Here, we look at portfolio management in terms of the impact on PMs--and offer some guidance on how to help ensure that those PMs are champions of the evolution rather than resistors.
There is no silver bullet that will allow us to remove all uncertainty, but we can apply some business intelligence practices to the concept of annual planning to at least increase our confidence levels and reduce the risks around the decisions that we make.
Making good business decisions while managing a portfolio often comes down to gathering the proper data and creating useful business intelligence. Here's some advice on four critical stages of the process.
Project portfolio management tools are becoming more widespread and more powerful, but are we fully leveraging them as well as we might? There could be some exciting things possible if we combine a PPM database with a BI tool.
Though it seems straightforward to simply invest dollars in the status quo, a good portfolio must consist of a balance of investments. To achieve this goal, we as project portfolio managers can look to a few simple guidelines inspired by the oil industry: oversubscription, prioritizing investment and providing ample lead time. Read on to understand more about the O.I.L. pipeline…