Allocating Resources Predictably

Once the portfolio is defined in advance and projects have business plans with granular data, it becomes possible to see much further ahead for required project resources. This can then enable bulk sourcing of resources that will be needed in large quantities across projects, or on a human capital level, and can enable training and staffing plans to be put in place so that the project needs can be met without costly and resource-intensive expediting procedures. The further ahead you can see,...

The Cultural Importance of Goal Setting

Implementing a project management system provides a means of institutionalizing goal setting within the organization and monitoring progress toward those goals in a structured and predefined way. The act of setting goals should encourage greater organizational focus and foster innovative solutions where needed in order to achieve the desired goal-based outcomes. If the implementation of the portfolio management system can drive a culture of aggressive goal setting with corresponding...

The Importance of Smart Goals

Ambiguity at this stage leads to ambiguity in execution. Using SMART goals will aid you in communicating your strategy. Do not allow disagreement between senior leadership to result in a vague strategy. Confront the areas of disagreement rather than settling for vague goals. Setting SMART goals is an effective way of focusing the strategy of the project. Each goal should have the following characteristics Specific. Very clear description of what the goal is....

Keep everything as simple as it can be

This is necessary to counteract process growth without you taking any action. It is often easier to add a new process than to cut an existing one, but both are necessary to keep the portfolio process in balance and to avoid bloat. Requests to add new processes will come naturally if the process is visible, people are engaged, and the postmortem function is working well. Opportunities to cut or remove portions of the process are just as important but may not...