Project Management

Data Gathering in Portfolio Management

Kenneth has 14 years of healthcare experience in government and private industry. Over eight years of experience managing healthcare IT projects, operations, contracts, and personnel. His work experience includes project management, contracts and procurements, data analysis, claims adjudication, business writing, and business process modeling. Kenneth was certified in 2006 as a Project Management Professional.

Business intelligence is a method of making decisions and it is dependent upon having good data available for use by project management and stakeholders. Using good business intelligence methods is vital when it comes to making decisions about projects in a portfolio. Being able to gather data appropriately and timely can be a lifesaver in the operation and management of a portfolio. Having a consistent method and process is the key ingredient to being able to gather the data. Not having the data or not having it in time will only lead to haphazard decisions and outcomes based more on luck or gut feelings than a reasoned and intelligent decision based on business intelligence.

The Setup
First, the portfolio must be set up for gathering data. This entails making sure that all projects use the same language and can provide access to the same information about the project. In addition, the portfolio manager should be ready by being able to state what they need in the way of data from the projects and the proposed projects that are in the portfolio.

Having this common language and common set of data points will help the projects be on the same level playing field when it comes to analyzing the data later on. The expectations and requirements must be communicated throughout the organization involved with the projects so that there are no surprises or problems when it …

Please log in or sign up below to read the rest of the article.


Continue reading...

Log In
Sign Up

"Life is what happens to us while we're making other plans."

- John Lennon