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?
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As small to midsized organizations find the number and complexity of projects to be tracked and managed growing, they realize there is a need to create processes that can routinely validate, organize, prioritize and evaluate how those projects are pursued—and measure the value they deliver. For many, creating a formal PPM function is a daunting task—and well outside management’s comfort zone. The good news is that PPM doesn’t have to be complicated.
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This project financial analysis template includes four Excel sheets to help you make crucial project selection decisions based on return on investment (ROI), net present values (NPV), internal rate of return (IRR) and payback period.
While numerous key performance indicators (KPIs) typically influence IT projects generally, the benefit of tracking all of them may be outweighed by the cost to do so. Therefore, each project must carefully select and manage those KPIs most relevant to its specific situation. This sample template can be used to define KPIs; also included is a table with examples of possible KPIs for each of the previously defined project-critical success factors (PCSFs) and a metric (measure and dimension) for each KPI. Use in conjunction with the article Determining IT Project Health.
Before implementing a Project Portfolio Management (PPM) solution, expectations, support and staffing must be addressed. Here are guidelines based on six key questions that can help ensure your rollout is not only successful but improves alignment and delivers benefits across the organization.
This presentation looks at a brief history and a definition of agile project management; looks at factors that affect selection of collaboration tool-sets; and looks at key features of project portfolio management tool-sets and at making PPM a business process.
In addition to regular management activities, the portfolio should also be subjected to a more formal quarterly review, and that’s what this checklist is designed to support. It provides the portfolio manager with a structure for the review process and allows the meeting(s) with leaders to focus on the critical elements of the portfolio.
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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?
If the primary reasons for portfolio management start with resource constraints, you’re probably wondering how we got to strategic alignment. And that, dear reader, would be an excellent question...
Selection of programs and projects in a portfolio (and their start times) should include an analysis of available resources. Otherwise, they can be set up for failure. Resource analysis at this level doesn't have to be complex—if it is targeted to the most likely area of constraint.
This practitioner often hears organizations claim they aren’t ready for portfolio management. They are...but they need to start with a different definition of what portfolio management is.
Defining what PPM means in the context of an organization isn't easy. One thing is for sure: Portfolio management is a complex management undertaking that continuously challenges even the most seasoned professionals. So the question that often arises is: What makes this so complex?
By one measure, portfolio management is a specialized discipline best suited for organizations with high project management maturity. How do you know when it makes sense to add a portfolio management function or office to your organization?
One of the fundamental tenets of portfolio management is the concept of a portfolio lifecycle, from planning through delivery and benefit attainment. The problem? That’s completely wrong.
Shorter planning windows, driven by shifting market and customer demands, are changing the role of portfolio management. But it creates new challenges and risks that must be addressed. Here’s a real-world example.
Portfolio management has become a much more important discipline in the last few years, but what exactly is a portfolio manager’s role in the organization?
Most of us in the world of project management are acquainted with the concept of project portfolio management, but how many of us really understand exactly what PPM managers actually do? What processes do they follow?
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