The Manager's Guide to Avoiding 7 Project Portfolio Pitfalls slides
During this webinar you'll get an overview of several project portfolio management pitfalls and how collaborative work management and portfolio management tools can help you avoid them. Learn how to:
1.Prevent ad hoc project initiation. Adhoc project start-up is an organizational process problem that can be solved by defining the project approval process and supplementing it. By adopting a collaborative work flow solution; the administrative burden can be reduced.
2.Combat poor project estimation.At a portfolio level, conducting a top down estimate is more realistic than conducting a bottom estimate based on the time allotted to estimate high-level project needs. When project estimates are stored within an easy-to-access system, team members can collaborate and compare new project requests with past performance metrics and refine budgets accordingly, ensuring new projects stay on time, on budget and within scope.
3. Avoid project planning that takes place in silos. Break the project-planning silo and adopt collaborative planning to ensure project budgets are realistic and reflects project team commitments. Estimates gathered by a collaborative project management system also form a repository for historical estimates to assist in avoid this pitfall.
4. Streamline reporting and status updates.A social interface can create a perfect collaborative environment that team members instinctively know how to use. Management, clients and team members can report and share status in real-time for better efficiency.
Portfolio management organizations can avoid project pitfalls by leveraging the combined power of social collaboration, increased engagement, accountability, visibility, and recognition—making it possible for people to take ownership of their work and perform at a higher level.