Preparing and implementing a portfolio management methodology
Most modern organisations frequently conducts multiple projects concurrently. This can easily lead to a situation in which the individual projects compete with each other for human and material resources, as well as for financing.
Organisations often use their resources in a non-optimised way, getting them involved in projects of minor significance or ones that fail to bring substantial business profits, instead of allocating them to long-term high-impact ventures.
We recommend implementing a project portfolio management methodology, a policy designed to optimise the selection of projects for the portfolio and oriented for resolution of conflicts between the individual initiatives.
In the course of our preparation work on the portfolio management methodology we deliver:
- rules for identifying and scoring of new initiatives,
- mechanisms for monitoring of the projects included in the portfolio with special focus on their financial parameters,
- methods to resolve conflicts between projects,
- mechanisms for effective decision-making on the matters related to the portfolio management (including/suspending/resuming/removing projects from the portfolio),
Our work results in implementing a methodology which enables effective project portfolio management by the organisation and consequently allows it to pursue its corporate strategy effectively.
Depending on the scope agreed, our involvement usually produces the following deliverables:
- Portfolio management methodology
- Initiatives scoring model
- Project portfolio management tools
- Portfolio effectiveness metrics