Portfolio Management is all about business alignment
and there are two major processes for aligning projects to business priorities.
Project Intake
sets the table
by selecting projects that will produce value against business objectives. We include this in portfolio management because ideally project intake is a cyclical process that allows management to select from amongst competing projects. If project intake is done strictly on a case-by-case basis, then project conficts are bound to arise as higher priority projects interrupt in-flight lower priority work.
Most companies that are successful at project selection employ several techniques to assist in the process, including:
Request Scorecards
Requirements for business sponsors
Business cases
Request demand compared to resource capacity
Approval levels based on project size
Portfolio Review
tracks in-flight projects to ensure they are:
- Performing as planned
- Not creating conflicts
- Providing value across the portfolios
- Reviewed by business stakeholders against their priorities
We have helped many companies develop and/or refine their project intake processes, including scorecard development and prioritization. Give us a call at 925-487-1589, or email us at info@effectiveitgroup.com, to discuss your project selection and portfolio management needs.
