I am currently working on PMO implementation for my company and one of the tasks is to create a project portfolio tracker for the group sites, with the aim of introducing a Portfolio Steering Forum with participation of CEO, CFO, CTO and some other key stakeholders. This will enable visibility of project progress, standardize the project approval process, enhance decision-making and so on. I prefer to wait 3 to 6 months to investigate a convenient software therefore I will simply start with basic tools like Excel and Powerpoint.
My question to those managing a portfolio: How do you define the metrics / data to be integrated to your portfolio tracker? I have started from scratch and I have a list of >50 data to collect for each project (list shown below)
Many thanks for sharing your expertise and for your support.
Project Name, Project ID/Code, Category/Type (e.g., IT, R&D, Operations), Project Manager Name, Project Sponsor Name, Start Date, End Date, Estimated Duration, Geographical Location (if applicable), Project Description (brief overview), Project Status (e.g., Not Started, In Progress, Completed, On Hold, Cancelled), % Completion, Milestones (with due dates and status) Current Phase (e.g., Initiation, Planning, Execution, Closure), Schedule Status (e.g., On Track, At Risk, Behind Schedule) Key Achievements (recent accomplishments), Total Budget, Spent to Date (actual expenditure), Remaining Budget, Forecasted Cost to Complete, Cost Variance (difference between planned and actual costs), Budget Status (e.g., On Track, Over Budget,) Schedule Variance (difference between planned and actual schedule), Risk Status (open, closed, mitigated), Risk Severity (high, medium, low), Issue Status (open, in-progress, resolved), Severity/Priority (high, medium, low), Issue Description, Interdependencies with Other Projects (e.g., relies on the completion of another project), Change Requests (list of formal changes proposed), Quality KPIs, Last Communication Date (for major stakeholders), Strategic Alignment (how the project aligns with strategic goals), Expected Benefits (e.g., revenue growth, cost savings), Benefit Realization Status (whether the benefits are being realized), KPIs / OKRs Linked to Business Objectives (metrics that indicate success), Reports Generated (e.g., weekly, monthly status reports), Lessons Captured (what went well, what didn’t), Best Practices Identified (to apply in future projects), Completion Status (when all objectives are met), Handover Plan (details for project transition), Closure Checklist (activities needed for formal closure), Post-Implementation Review (assessment after project ends), Regulatory Requirements (whether the project complies with regulations), Audit Status (internal/external audits conducted), Compliance Checklist (specific compliance tasks completed), RAG Status (Red, Amber, Green indicator for overall project health), General Comments (for any additional notes), Action Items (key tasks that need to be addressed soon). Saving Changes...
I would start by going to the consumers of this information (e.g. senior leadership team) to find out what matters to them. I'd also make sure that there is a reliable, good quality means of getting this data, ideally in an automated manner from teams to avoid Garbage In, Garbage Out.
Kiron
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1 reply by Cenk Kut
Jan 08, 2025 8:04 AM
Cenk Kut
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Thank you Kiron Bondale, I considered this one, talking to 3 main stakeholders and shaping the portfolio tracker in line with their interest and their priorities. Based on the survey I have done, they are mainly interested in budget and value delivery of the projects.
I think there are two aspects, the first one is what information to track and second is what to present to my customers & stakeholders. The 2nd can be adapted based on the audience as you said. However as a starting point for a PMO monitoring the group project portfolio I have the temptation to include much more information, which will as a result make it difficult the data collection process and maintaining the portfolio list updated….
I would start by going to the consumers of this information (e.g. senior leadership team) to find out what matters to them. I'd also make sure that there is a reliable, good quality means of getting this data, ideally in an automated manner from teams to avoid Garbage In, Garbage Out.
Kiron
Thank you Kiron Bondale, I considered this one, talking to 3 main stakeholders and shaping the portfolio tracker in line with their interest and their priorities. Based on the survey I have done, they are mainly interested in budget and value delivery of the projects.
I think there are two aspects, the first one is what information to track and second is what to present to my customers & stakeholders. The 2nd can be adapted based on the audience as you said. However as a starting point for a PMO monitoring the group project portfolio I have the temptation to include much more information, which will as a result make it difficult the data collection process and maintaining the portfolio list updated…. Saving Changes...
