A project portfolio is a collection of components (sub-portfolios, programs, sub-programs, projects and operations) that meet or achieve one or many strategic objectives or initiatives. Here, the author shares seven key steps to design and implement a project portfolio in an organization.
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The mechanics of project management are increasingly becoming automated, reducing the need for project managers to complete many tasks that were previously common. Does that mean project managers aren’t needed?
The article addresses how one can learn from and turn perceived project management oversights or snafus into solid PM strengths going forward, if one adopts the appropriate attitude. It is wise to reflect upon one’s project performance at the completion of an assignment to concretely reinforce the positives—but to also make mental notes and take corrective actions to close any obvious competence gaps.
Programs are strange beasts. We know they exist. We recognize they are complex. We acknowledge they take a different approach to manage successfully. And yet, what that different approach looks like is very often misunderstood.
An efficient frame of governance helps to ensure the strategic alignment of the organization with corporate initiatives and their realization. This article analyzes governance around projects with an organizational approach at the strategic level, at the tactical and portfolio level, and at the program and project level.
The most important question that should be asked before a project is approved is rarely considered. That’s an issue we need to address—that we tend to think of projects as solutions to specific problems.
Whether or not you acknowledge it, the more importance you give to strategy, the less financial value you are able to extract from your portfolio; the converse is also true. What algorithm can we apply to portfolio selection in order to get the best out of strategy and the best out of economics?
Government initiatives can benefit from many portfolio management principles. But portfolio management is not gaining the same traction in government as it is in private corporations. Why is that, and what are the implications?
Portfolio managers that develop a detailed understanding of four fundamental aspects will be better positioned to manage their portfolios—and be able to answer the specific questions that executive managers are fond of asking.
Portfolio management in today’s world has little to do with project management and everything to do with business management. Is that how your organization operates?