Project Management

Do You Trust the Data?

Derek Stevens

Successful portfolio management rests on complete confidence in the investment analysis and the underlying data it is based on. If business executives, portfolio managers and project teams don’t believe in the data, they won’t use the portfolio management system. Here are some data-gathering best practices to build that confidence.

This is the eighth and final installment in a series of articles describing best practices for implementing and executing portfolio management.

 

Successful portfolio management means that decision makers are using the results of portfolio data and analysis to augment, not replace, their investment decision-making acumen. This presents considerable change management challenges. Decision-making is what executives do, and anything that looks like you are automating what has taken years of business school and applied experience will face a tough uphill battle. This will be especially true if patterns emerge from the data that appear to counter prevailing notions about what project investments or applications are valuable. The first reaction is to simply not believe the data, and force the portfolio management team to go back to the drawing board. By the time that occurs, it will put a major roadblock in your way and kill any momentum you may have had. So what’s the answer?

 

Start with Decisions and Analysis …


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"Judge a man by his questions rather than his answers."

- Voltaire

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