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….
Using a Methodology
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…
5 Perks of a Formal Portfolio Prioritization Process
September 11, 2020 by
You may already rank the projects within your company’s portfolio. But do you have an established methodology around the process that’s followed every time, no matter who’s sponsoring the effort or which project manager is reviewing it? If your portfolio’s priorities are determined through an informal or ad hoc process (or no process at all),…
Why Project Teams Work Without a Master Plan
February 6, 2020 by
Though some teams wouldn’t consider starting a project without a workable and realistic master plan, other groups routinely begin executing tasks before their overall strategy has been finalized and communicated. For PMs wondering why a project team would start work before having a high-level plan in place, the reasons can often be traced to a…
Manage Today’s Project Stakeholder Expectations
January 15, 2020 by
The pace of business today can be downright frantic at times. Given the scope of activities within a normal project and the number of people involved in even relatively small efforts, PMs often face additional challenges keeping up. Not only does their team have access to more technology tools than ever before, they also have…
Control the Project Ripple Effect: Tips to Get Started
July 29, 2019 by
If you’ve ever run into problems in a project, you probably noticed it wasn’t just a single issue that needed to be resolved. Trouble has a way of snowballing, starting out small before it grows into something big enough to bring progress to a halt. It’s also possible for problems to jump across the project…
The Importance of Culture in Project Management Success
July 8, 2019 by
Every organization has a unique company culture. Even a business that appears very similar to others in the marketplace has its own blend of corporate values, maturity, and personality that set it apart. Culture wields wide influence, from shaping the company’s workforce to determining how collaborations are formed. Company culture also has a heavy hand…
4 Signs Your Project Team Needs Better Training
July 3, 2019 by
Issues that are of immediate importance consume much of a PM’s time. This is especially true when the schedule is busy with active projects and additional initiatives are waiting in the wings to launch. Near-term problems such as schedule delays and funding concerns are just a few of the items vying for attention. As a…
Project Managers are Key to Agile Success
April 25, 2019 by
More teams are finding it advantageous to incorporate Agile concepts into their traditional waterfall project management structure. This strategy can deliver some big benefits, but a hybrid approach has the potential to present challenges if PMs don’t address a few key issues early in the process. Whether this is your first time implementing a hybrid…
A Proven Project Management Methodology that Fixes the Pleaser Problem
April 17, 2019 by
We’ve looked at some of the problems pleasers can sometimes create within the project team as they try to execute initiatives without upsetting customers. Fortunately, a strong project management methodology gives PMs the tools they need to eliminate many of the issues pleasers commonly trigger. This not only keeps customers and the executive group happier, it…
