While the broadest definition of “portfolio” may be all of the organization’s initiatives, there are always a small number of those initiatives that demand the greatest attention and focus. These are the strategic projects that will make or break the organization’s performance.
When it comes to project resource management, many organizations take the path of least resistance—doing what is easy over what is effective. But organizational PM must require an organizational resource pool, right?
The increasing acceptance of portfolio management indicates that the application of knowledge, processes, skills, tools and techniques to select the right work at the right time may have significant impacts on program, project and business success. Focusing on IT portfolio management, the author shares a practical method and metric system for implementing portfolio management. All proposed methods can be easily extended for business portfolio management.
Establishing a “program approach” allows leadership to control performance across multiple projects to achieve maximum efficiency and ensure alignment to strategic goals. The “Intelligent Project Management” model (iPM) provides a fully integrated approach utilizing smart controls, greater visibility of performance data and ensuring people have the right capabilities to support delivery.
Addressing seven common risks can help companies better prepare for transformational programs, save time and money, and lay the groundwork for a positive return on investment.
For many organizations, strategic planning and the associated project selection is an exercise in frustration. How can we improve things without reinventing the process?