A strong project portfolio management strategy includes regular reviews—of risk factors, budget and schedule adherence, resource allocations, and the overall health of the portfolio, just to name a few. Similar reviews may be conducted across individual projects, but widening your perspective to encompass a comprehensive portfolio view enables your organization to do so much more….
Project Management Consulting
Do These 6 Things Before Removing a Project From Your Portfolio
January 4, 2021 by
You should already have a formal mechanism for adding projects to your organization’s portfolio. However, our project management consulting teams have found that some companies don’t follow an established process when a project is removed. It’s common that a project is pulled from the list without a thorough evaluation of the cancelation’s long-term effects. In…
Why You Need to Deal with Past Project Failures
December 18, 2020 by
Whether it was a missed target date or a deliverable that fell short of expectations, most people working in project environments have encountered some sort of failure. The PMAlliance project management consulting team has helped organizations of all sizes and levels of maturity rescue projects that were headed for failure – due to a wide…
Master These Communication Trends to Boost Project Performance
December 11, 2020 by
Your team’s communication strategy is always evolving. Just moving from one project to the next, you’re likely to find different sets of requirements and expectations as your list of sponsors and end users changes. But communication trends are changing, too. By understanding these trends and how they affect your stakeholders’ preferences, you can more easily…
Is The Snowball Effect Wrecking Your Project Portfolio?
December 4, 2020 by
While it’s not uncommon for a project to encounter some type of challenge, most issues are manageable and easily handled by the team without any lasting negative impacts. However, problems that crop up repeatedly or that aren’t adequately addressed the first time around can grow to create harm far outside the scope of the project…
5 Risks of Subjective Project Portfolio Data
November 24, 2020 by
When data from individual projects is rolled up to the portfolio level, any issues with the integrity of that information—its age, its completeness, or its accuracy—are magnified. Project data built on subjective metrics is also an area that can generate questionable portfolio insights. People who pad their budget forecasts because they’re worried about contentious financial…
Portfolio Management: What if All Your Projects are High Risk?
November 20, 2020 by
Does your portfolio seem to be full of nothing but high-risk, can’t-fail projects? You aren’t alone. Our project portfolio management consulting services include working with clients concerned their portfolios are risk heavy. But a thorough evaluation may reveal you aren’t as overwhelmed with risk as you think. Instead, the methodology used to measure and review…
Make Your Project Portfolio Reports More Useful
September 4, 2020 by
You likely have some sort of project portfolio reporting process in place already, but are you staying in tune with the changing needs of both high-level sponsors and frontline team members? Maybe your portfolio is evolving to encompass more initiatives, or to include projects with greater complexity or that are more closely tied to the…
Use Categories to Increase Insight into Your Project Portfolio
August 29, 2020 by
Project portfolio reviews require processing a lot of information and PMs are always looking for ways to streamline the process. One strategy that can make portfolio reviews more useful and effective is to assign a category to every initiative. When projects are tagged with multiple categories, you can define the filter to fit the needs…
Supercharge Your Project Portfolio Review Process
August 21, 2020 by
You don’t want your portfolio review exercises to become a lesson in inefficiency. Many PMs can recall sessions where executives and sponsors have engaged in all the same discussions, raised the same points for and against certain projects, and pored over so much data that no one felt they had a truly good handle on…
