Drew FordDirector of Operations| Business InstrumentsKs, United States
We have started the process of building out a Project Portfolio tool for our PM software. I would love to hear what everyone thinks makes or breaks this functionality. Looking for insight on the do's and don'ts of this feature. Saving Changes...
I am not sure I am understanding exactly what your question is? Are you building a Project Portfolio in an existing portfolio management tool, or building the portfolio management tool itself? OPPM is a portfolio tool we use, but we build portfolios of projects in P6 as well. Saving Changes...
Drew FordDirector of Operations| Business InstrumentsKs, United States
Mary-Lynn, the PM tool has been built but we didn't really have a way of managing portfolio's so we are adding that to the already built PM tool. Hope this clears up any confusion. Just looking for great insight on key pieces of the portfolio piece for the tool. Thanks Saving Changes...
Stephen DellConsultantBurlington, Nc, United States
Drew,
A great effort and can be both fun and frustrating! I would recommend a couple things:
1. Some kind of project categorization mechanism - KLO projects, business unit, strategic, mandates (corporate and regulatory), etc.
2. A method to capture project interdependencies - sequencing, resources, etc.
3. The ability to capture projects as part of programs.
4. Capture of project ranking and prioritization.
5. Capture of CBA and proposed benefits, with a way to track benefits realization (uh, good luck with that one ;>)
6. Financials at the portfolio level - you likely have a budget that governs all project activity and it may be helpful to track this at a a level above just project-by-project.
7. Organization Change Management information - as projects get approved without line of sight to the larger business unit impacts - process, people - you can use this tool to capture the breadth and depth of changes. It could tell you, for example, that 7 of the projects in your portfolio impact Sales or Operations or IT, and all in the same quarter, which elevates the risk.
Just some thoughts... enjoy the journey!
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1 reply by Drew Ford
Jan 22, 2016 1:44 PM
Drew Ford
...
Great feedback! Thanks for the terrific info.
Saving Changes...
Drew FordDirector of Operations| Business InstrumentsKs, United States
Jan 22, 2016 1:39 PM
Replying to Stephen Dell
...
Drew,
A great effort and can be both fun and frustrating! I would recommend a couple things:
1. Some kind of project categorization mechanism - KLO projects, business unit, strategic, mandates (corporate and regulatory), etc.
2. A method to capture project interdependencies - sequencing, resources, etc.
3. The ability to capture projects as part of programs.
4. Capture of project ranking and prioritization.
5. Capture of CBA and proposed benefits, with a way to track benefits realization (uh, good luck with that one ;>)
6. Financials at the portfolio level - you likely have a budget that governs all project activity and it may be helpful to track this at a a level above just project-by-project.
7. Organization Change Management information - as projects get approved without line of sight to the larger business unit impacts - process, people - you can use this tool to capture the breadth and depth of changes. It could tell you, for example, that 7 of the projects in your portfolio impact Sales or Operations or IT, and all in the same quarter, which elevates the risk.
Just some thoughts... enjoy the journey!
Great feedback! Thanks for the terrific info. Saving Changes...
Ganesh SrinivasanGanesh PMO (PMP, PMI-SP, ITIL-F)| MNC BankChennai, India
Dear Ford,
It would be more helpful if you could provide more details on the present work of your enhancement.
For my end, we have our own created small PPM tool, though it got scope to enhance, but presently serves the purpose.
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