Designing and Implementing a Project Portfolio
A project portfolio is a collection of components (sub-portfolios, programs, sub-programs, projects and operations) that meet or achieve one or many strategic objectives or initiatives. In this article, I’d like to describe seven key steps to design and implement a project portfolio in an organization.
Think about companies and organizations without a portfolio. As an organizational project management consultant and trainer, I have seen CEOs and top managers that didn’t have any sense about their company’s component status, achievements, capabilities, capacities, etc. Most of them did not have enough information about their company’s resources. Most of the time, they defined the components without any reasoning—and the success rate of their components was bad. They defined their vision, mission and strategic objectives—but they did know how to monitor and control them.
Because of those problems, we need to define the portfolio to achieve our objective and prevent any waste of time, resources, etc. To design and implement a portfolio, we need to follow seven key steps:
1. Understand the current status of OPM maturity assessment. It’s so important to know your organization’s current status before doing any work. Maybe your organization has some related portfolio processes, procedures or templates that help you
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