Project selection is a complicated process that involves weighing competing objectives. Projects must be prioritized and, equally importantly, measured against limited resources and budget. When considering which projects to undertake, when to start them, and whether to increase/decrease their budgets and staffing, there are thousands of possible project selection combinations.
The goal of Portfolio Simulation is to determine which new potential projects (from the Portfolio Ranking step) can actually be launched and when (and in accordance with parameters the Portfolio Managers can fully control: portfolio-level cash flow, cost budget, or effort budget).
Each portfolio folder can have up to six active scenarios at a given time.
Each scenario represents a set of copies of “Published” Projects. The Scope of the projects can be filtered by nature (Projects, Products, Programs, Business Cases).
Once copies of the published versions are available in a scenario, they can easily be removed or put back into the scenario.
Once a scenario is validated, the Portfolio Manager will have the ability to save the updated versions of potential Projects, as it is possible that additional changes could be made to these versions.