Create a Common Set of Artifacts
One of the keys to building a project portfolio management program that is embraced by the entire organization is the establishment of a common set of project artifacts. To get started, here are downloadable samples of six key artifacts, including the project brief, plan, status report, delay report, health bulletin and interdependency journal.
This article is adapted from the Manage Work Through Projects chapter of the author’s new book The Executive Checklist: A Guide to Setting Direction and Managing Change (Palgrave Macmillan, 2014).
When portfolio management is fully embraced by an enterprise, larger efforts are more readily broken into smaller, more manageable ones. Further, project specific issues that may impact desired results are discovered and addressed sooner — before they grow into larger problems that become more expensive to fix down-the-road. Finally, the organization is less apt to squander precious resources on impractical and half-baked ideas when a more methodical approach is in place and functional — positioning the firm to more purposely manage its resources and harvest expected benefits from its projects and programs.
One of the keys to building a successful project portfolio management program is the establishment of a common set of project artifacts. Projects produce artifacts in the form of work products that
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