Project Portfolio Management

Portfolio management involves the selection, prioritization, and control of an organization’s projects and programs. All of the decisions made related to managing a portfolio are aligned with an organization’s strategic objectives and capacity to deliver. The goal is to balance change initiatives and business-as-usual while optimizing return on investment.

Portfolio management involves the analysis of Debt vs. Equity, Growth vs. Safety, and various other trade-offs.

While specific Project Portfolio Management (aka PPM) processes will vary from one company to another, there are some overall best practices to keep in mind as you implement portfolio management at your organization.

Project Portfolio Management Process

A strategic portfolio management system requires a portfolio management process that usually involves an ongoing step-by-step process.

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  1. Identify your Business Goals and Strategy

  2. Develop Project Evaluation Criteria

  3. Create an inventory of candidate projects

  4. Select the best projects

  5. Build a Simulation of your Portfolio

  6. Analyze Resource Capacity

  7. Manage and Monitor

Project Portfolio Management in Sciforma

The purpose of Sciforma Portfolio workspaces is to provide Portfolio Managers with all the tools they need to manage their portfolios and the projects attached to them. With those workspaces, they will be able to assess the current state of the projects in a portfolio, determine the benefits of initiating certain business cases, allow rankers to rate potential business cases, and evaluate the capacity to start new projects in terms of budget and workload requirements.

Portfolio Ranking workspace

Portfolio Simulation workspace

Capacity Planning workspace

Stakeholders

Portfolio Managers

Portfolio Managers / PMO

Resource Managers

Project Scope

Projects whose Nature is “Business Case”

Published projects of all Natures (Product, Project, Program and Business Case)

Published projects of all Natures (Product, Project, Program, and Business Case)

Actions

  • Compare Business Cases

  • Choose Business Case to be launched

  • Create scenarios

  • Validate scenarios

  • Update projects

  • Capacity Analysis

  • Capacity Forecasts update

Outputs

Business Cases to be considered for launch

Business Cases to be launched

Capacity Forecasts updated to support ongoing and validated projects

Note

In Sciforma, Portfolio Folders can include Projects of the following Nature: Business Case, Products, Projects, and Programs.

In this theme, you will acquire the knowledge to manage Project Portfolios.

To learn more, select one of the topics below.

Portfolio Definition

A Project Portfolio Folder is a collection of projects, programs and processes that are managed together and optimized for the financial and strategic goals of an organization. Even if the Portfolio...

Portfolio Ranking

One of the most difficult parts of project portfolio management is deciding how to rank the projects — that is, determining which projects should be done now, later, and, most importantly, never...

Portfolio Simulation

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...

Capacity Planning

Resource capacity planning is a critical function of portfolio management. It is about comparing future resource utilization of project resources against the available capacity to do work. Utilization...

Project Portfolio Health

A portfolio is a grouping of projects that is designed to achieve a defined business objective or strategic benefit . The ultimate purpose of any portfolio of projects is to help materialize the long...

Portfolio Budget

It is rare that an organization has only one project going on at a time. To make the best decisions regarding Budget and Costs, Managers often attach Projects to Portfolio Folders. In Sciforma, those...