Manage Your Portfolio
In order to successfully control your portfolio of projects, we suggest you do the following to ensure you have the visibility to keep your portfolio running smoothly:
- Firstly, make sure you ask key questions like ‘am I focusing on the right projects?’ and ‘is the organization focusing on projects that it shouldn’t be?’
- Secondly, ensure you keep up-to-date with your project inventory, including the project name, type, duration, budget and resources
- Next, you’ll want to establish a PPM framework, including a PPM committee, a reporting structure and metrics
- Fourth on our list would be to implement a PPM framework in relation to the technology, processes, people and information involved.
- Then, establish your PPM framework, such as evaluating and prioritizing investments and establishing a portfolio of potential investment as well
- Number 6 on this list is in relation to your pipeline management; i.e. make sure to pay close attention to your strategic plan, resource management and capacity planning process.
- And lastly, assess the benefits of having a PPM. These benefits might include alignment, demand management and improved visibility.
Bonus Blog Post: One Page Plan for Successful Portfolio Management