4 Reasons I Love Portfolio Management
From the Voices on Project Management Blog
by Cameron McGaughy,
Lynda Bourne, Kevin Korterud, Peter Tarhanidis, Conrado Morlan, Jen Skrabak, Mario Trentim, Christian Bisson, Yasmina Khelifi, Sree Rao, Soma Bhattacharya, Emily Luijbregts, David Wakeman, Ramiro Rodrigues, Wanda Curlee, Lenka Pincot, cyndee miller, Jorge Martin Valdes Garciatorres, Marat Oyvetsky
Voices on Project Management offers insights, tips, advice and personal stories from project managers in different regions and industries. The goal is to get you thinking, and spark a discussion. So, if you read something that you agree with--or even disagree with--leave a comment.
View Posts By:
Cameron McGaughy
Lynda Bourne
Kevin Korterud
Peter Tarhanidis
Conrado Morlan
Jen Skrabak
Mario Trentim
Christian Bisson
Yasmina Khelifi
Sree Rao
Soma Bhattacharya
Emily Luijbregts
David Wakeman
Ramiro Rodrigues
Wanda Curlee
Lenka Pincot
cyndee miller
Jorge Martin Valdes Garciatorres
Marat Oyvetsky
Past Contributors:
Rex Holmlin
Vivek Prakash
Dan Goldfischer
Linda Agyapong
Jim De Piante
Siti Hajar Abdul Hamid
Bernadine Douglas
Michael Hatfield
Deanna Landers
Kelley Hunsberger
Taralyn Frasqueri-Molina
Alfonso Bucero Torres
Marian Haus
Shobhna Raghupathy
Peter Taylor
Joanna Newman
Saira Karim
Jess Tayel
Lung-Hung Chou
Rebecca Braglio
Roberto Toledo
Geoff Mattie
Recent Posts
Project 2030: Skills We Need to Cultivate Now
The Technical Program Manager: How to Stay Relevant in 2025
5 Things Your Operational Plan Should Do
5 New Project Guardrails for Adaptive Leaders
The Leader's Voice: Respect It, Protect It, and Use It Properly!
Categories
2020,
Adult Development,
Agile,
Agile,
Agile,
agile,
Agile management,
Agile management,
Agile;Community;Talent management,
Artificial Intelligence,
Backlog,
Basics,
Benefits Realization,
Best Practices,
BIM,
business acumen,
Business Analysis,
Business Analysis,
Business Case,
Business Intelligence,
Business Transformation,
Calculating Project Value,
Canvas,
Career Development,
Career Development,
Career Help,
Career Help,
Career Help,
Career Help,
Careers,
Careers,
Careers,
Careers,
Categories: Career Help,
Change Management,
Cloud Computing,
Collaboration,
Collaboration,
Collaboration,
Collaboration,
Collaboration,
Communication,
Communication,
Communication,
Communication,
Communications Management,
Complexity,
Conflict,
Conflict Management,
Consulting,
Continuous Learning,
Continuous Learning,
Continuous Learning,
Continuous Learning,
Continuous Learning,
Cost Management,
COVID-19,
Crises,
Crisis Management,
critical success factors,
Cultural Awareness,
Culture,
Decision Making,
Design Thinking,
Digital Project Management,
Digital Transformation,
digital transformation,
Digitalisation,
Disruption,
Diversity,
Diversity,
Documentation,
Earned Value Management,
Education,
EEWH,
Enterprise Risk Management,
Escalation management,
Estimating,
Ethics,
execution,
Expectations Management,
Facilitation,
feasibility studies,
Future,
Future of Project Management,
Generational PM,
Governance,
Government,
green building,
Growth,
Horizontal Development,
Human Aspects of PM,
Human Aspects of PM,
Human Aspects of PM,
Human Aspects of PM,
Human Aspects of PM,
Human Resources,
Inclusion,
Information Technology,
Innovation,
Intelligent Building,
International,
International Development,
Internet of Things (IOT),
Internet of Things (IoT),
IOT,
Knowledge,
Leadership,
Leadership,
Leadership,
Leadership,
Leadership,
lean construction,
LEED,
Lessons Learned,
Lessons learned;Retrospective,
Managing for Stakeholders,
managing stakeholders as clients,
Mentoring,
Mentoring,
Mentoring,
Mentoring,
Mentoring,
Methodology,
Metrics,
Micromanagement,
Microsoft Project PPM,
Motivation,
Negotiation,
Neuroscience,
neuroscience,
New Practitioners,
Nontraditional Project Management,
OKR,
Online Learning,
opportunity,
Organizational Culture,
Organizational Project Management,
Pandemic,
People management,
Planing,
planning,
PM & the Economy,
PM History,
PM Think About It,
PMBOK Guide,
PMI,
PMI EMEA 2018,
PMI EMEA Congress 2017,
PMI EMEA Congress 2019,
PMI Global Conference 2017,
PMI Global Conference 2018,
PMI Global Conference 2019,
PMI Global Congress 2010 - North America,
PMI Global Congress 2011 - EMEA,
PMI Global Congress 2011 - North America,
PMI Global Congress 2012 - EMEA,
PMI Global Congress 2012 - North America,
PMI Global Congress 2013 - EMEA,
PMI Global Congress 2013 - North America,
PMI Global Congress 2014 - EMEA,
PMI Global Congress 2014 - North America,
PMI GLobal Congress EMEA 2018,
PMI PMO Symposium 2012,
PMI PMO Symposium 2013,
PMI PMO Symposium 2015,
PMI PMO Symposium 2016,
PMI PMO Symposium 2017,
PMI PMO Symposium 2018,
PMI Pulse of the Profession,
PMO,
PMO,
pmo,
PMO Project Management Office,
portfolio,
Portfolio Management,
Portfolio Management,
portfolio management,
presentations,
Priorities,
Probability,
Problem Structuring Methods,
Process,
Procurement Management,
profess,
Program Management,
project,
Project Delivery,
Project Dependencies,
Project Failure,
project failure,
Project Leadership,
Project Management,
project management,
project management office,
Project Planning,
project planning,
Project Requirements,
Project Success,
Ransomware,
Reflections on the PM Life,
Remote,
Remote Work,
Requirements Management,
Research Conference 2010,
Researching the Value of Project Management,
Resiliency,
Risk Management,
Risk Management,
Risk management,
risk management,
ROI,
Roundtable,
Salary Survey,
Schedule Management,
Scheduling,
Scope Management,
Scrum,
search,
SelfLeadership,
SelfLeadership,
SelfLeadership,
SelfLeadership,
SelfLeadership,
Servant Leadership,
Sharing Knowledge,
Sharing Knowledge,
Sharing Knowledge,
Sharing Knowledge,
Sharing Knowledge,
Social Responsibility,
Sponsorship,
Stakeholder Management,
Stakeholder Management,
stakeholder management,
Strategy,
Strategy,
swot,
Talent Management,
Talent Management,
Talent Management,
Talent Management,
Talent Management,
Talent Management Leadership SelfLeadership Collaboration Communication,
Taskforce,
Teams,
Teams in Agile,
Teams in Agile,
teamwork,
Tech,
Technical Debt,
Technology,
TED Talks,
The Project Economy,
Timeline,
Tools,
tools,
Transformation,
transformation,
Transition,
Trust,
Value,
Vertical Development,
Volunteering,
Volunteering #Leadership #SelfLeadership,
Volunteering Sharing Knowledge Leadership SelfLeadership Collaboration Trust,
VUCA,
Women in PM,
Women in Project Management
Date
By Jen L. Skrabak, PfMP, PMP
The #PMLoveStories theme on ProjectManagement.com in February got me thinking about why I love portfolio management.
1. Portfolio management closes the strategy to execution gap
Simply doing projects better by focusing on scope, time and cost is not improving our success rates. It’s time to improve portfolio management by identifying and selecting the programs and projects with the highest value.
2. The portfolio represents your organization’s actual priorities.
Look for the gap that may exist between what the organization’ says its strategy is and what its portfolio does.
By examining your portfolio, you can start assessing how many programs and projects are truly aligned to the organization’s defined vision, mission, objectives and strategic plan. You can see where the resources are focused and what the actual vs. anticipated performance of the programs and projects are.
In the end, you, the portfolio manager, are the conduit to strategic alignment and execution — a powerful role in an organization if done right. The key is to not only know the portfolio’s status, but also to monitor, react to and embrace change so the highest value work is done.
3. Portfolio managers have to think like CEOs.
For portfolio managers, it’s about more than managing or controlling scope, schedule and cost. You are ultimately accountable for the results. You’re empowered to allocate resources (human and financial), and you have the ability to negotiate with and influence executives to determine the path forward. The portfolio manager is the only person who can oversee and communicate the state of the portfolio by aggregating data into actionable information, ensure the decisions are made in a timely manner, and proactively address key issues, risks, and opportunities.
4. Portfolio managers see the big picture.
How would you describe your portfolio personality when you look at it holistically—aggressive, innovative, keep the lights on, or confused? What’s the overall value your portfolio delivers and how did managing it comprehensively boost that value?
When value is not measured by time, scope, and cost, but aggregate and measurable results, it puts different priorities into focus. That drives the identification, selection, and execution of the right programs and projects.
Share your #PMLoveStories!
Posted
by
Jen Skrabak
on: February 13, 2017 10:09 AM |
Permalink
Comments (6)
Please login or join to subscribe to this item
Naomi Caietti
Senior Project Manager | ePMO | Higher Education | Healthcare & IT| Linkedin.com/In/NaomiCaietti
Great post; it's fun to see it all come together.
Please Login/Register to leave a comment.
|
Mediocrity knows nothing higher than itself, but talent instantly recognizes genius.
- Arthur Conan Doyle
|
