Project Management

The O.I.L. Project Portfolio Pipeline

Rob Saxon is a Project Management Professional, Certified Information Systems Auditor and a trained Six Sigma Specialist. Rob is currently developing methods to integrate project management into previously unexplored areas of business.

Energy is a hot topic nowadays. Where we get energy from, what form it takes, and how it gets to us are all widely debated. One aspect of modern life that I’m extremely grateful for is that energy does get to me. I’m in the United States writing this article on a computer in a warm house, so the oil is somehow flowing. I know very little about how energy flows around the world, except that it does it, and that I can learn from it.

As a project and program manager, I need to make sure that the budget dollars that are entrusted to me flow in directions where they can make the most impact. Similar to the flow of energy, making the most impact with the flow of budget dollars is not as easy as it may sound. Though it seems straightforward to simply invest dollars in the status quo, a good portfolio must consist of a balance of investments. These investments need to represent the needs of the business, as well as overcoming process challenges and honoring the future of technology. Like the flow of energy, the flow of funding and human resources must get to the most impactful efforts at the right time.

To achieve this goal, we as project portfolio managers can look to a few simple guidelines inspired by the oil industry. These guidelines are oversubscription, prioritizing investment and providing ample lead time. Read on to understand more about the O.I.L. …

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"In the real world, the right thing never happens in the right place and the right time. It is the job of journalists and historians to make it appear that it has."

- Mark Twain