Project Management

Effective Portfolio Management Implementation Tips

Dr. Andrew Makar is an IT program manager and is the author of the Microsoft Project Made Easy series. For more project management advice, visit the website TacticalProjectManagement.com.

Teams initiating a project portfolio management implementation should be aware of potential pitfalls organizations can experience during implementation and execution. Vendors sell the idyllic dream that positions their tool as the magic cure-all for visibility and portfolio planning throughout the organization. From the project manager managing the daily activities to the senior IT director developing the cycle plan, project portfolio management software promises end-to-end features rich enough to satisfy both audiences.
 
The reality is without a process to provide accurate information, the PPM system risks quickly joining the IT graveyard of implemented but rarely used solutions. The following are a few tactical tips to ensure your PPM solution is a successful one that is used frequently and provides data for good decision making.
 
Tactical Tip #1: Manage portfolio operations reviews using the PPM Tool.
By establishing a weekly or monthly process to update the tool, managers will encourage users to incorporate the PPM system into their daily, weekly or monthly routines. If the PPM solution is tracking project actual hours, users can update the project schedule in the tool daily. Implementation managers should emphasize the importance of using the tool to develop the operational reports required to manage the IT portfolio.
 
If project teams or …

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