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Topic Teasers Vol. 161: How Do I Do Portfolio Management?
Have a question you would like to submit as a potential Topic Teaser? Send a message to Barbee Davis today!
We’re a company that was a startup, and we’ve had great success. One of the founders ask me to work with a team to decide if we needed to set up a portfolio management part of the business. I’m a project manager, but I have no experience in this—and to be completely honest, I’m not even sure exactly what it is. Is there value to our adding this layer to a relatively new organization?
A. Portfolio management is an overlap for the work a certified project manager does on any given project. It does help reduce some pressure on the primary PM, as creating and managing the library of documentation that accompanies any project following PMI guidelines can be almost a full-time job.
B. Although it may seem like an inconsequential responsibility, think of the damage to an organization that would ensue if the portfolio each employee brings into the office each morning to transport their paperwork via car, train, bus or subway was lost in the maze of corporate offices. Having one monitored location for all portfolios, briefcases, purses and tote bags (along with coats, raincoats, and shoes) can reduce risk to the company.
C. While it is not possible to anticipate all risk, avoid it or keep it from happening, …
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"This planet has - or rather had - a problem, which was this: most of the people living on it were unhappy for pretty much of the time. Many solutions were suggested for this problem, but most of these were largely concerned with the movements of small green pieces of paper, which is odd because on the whole it wasn't the small green pieces of paper that were unhappy." - Douglas Adams |