With the current pandemic, what are the key questions PMO (Portfolio) should be asking as new projects come forward requesting for approval?
Ogechi NdukweProject Manager| MRRsoft Inc.Pewaukee, Wi, United States
COVID-19 now has large impact on how project teams are working to ensure successful delivery of in-flight projects. As the portfolio team reviews prospective IT projects, what are the 1 or 2 key questions the PMO should ask to ensure the project selection decision is not impacted by the Pandemic? Saving Changes...
As the impacts of COVID-19 are very likely to any project, things I would look for are:
1. Can the project be successfully delivered by staff working in a dispersed manner?
2. What specific collaboration technologies are required by the team and will those be in alignment with enterprise technology standards?
3. Will the project have a fairly short term breakeven or value realization point, and if not, what is the nature of its near term cash outflows?
4. Does the project rely on specific skills which are in very short supply or worse only one person can perform critical activities?
Kiron Saving Changes...
Ogechi NdukweProject Manager| MRRsoft Inc.Pewaukee, Wi, United States
Thank you Kiron for your response. In the current situation, question on technology, resource and finance will still suffice but in a wider context beyond just Software and Hardware need, but i like your point on the collaboration features for team alignment.
Can you please explain further on point number 3? why is the short term break even a requirement / question for project selection during this Pandemic period? Saving Changes...
As revenue projections for the near term are much lower for many companies, they will want to preserve their precious cash reserves for the investments which can generate the greatest returns in a short time frame. Any non-discretionary projects which require a lot of upfront investment and won't provide returns for years are likely not going to be viewed favorably. Saving Changes...
