There are some essential steps for initiating the selection phase of PPM. A key step is to make sure that the governance council is in place and that its roles and responsibilities are clear. Another key item is to make sure that the governance council is fully aware of the firm's strategic plans and the tactical options to support the strategies.
There should be a standardized practice for submitting proposed projects to the system. Guidelines spelling out information required from the project sponsor should be published. (See Chapter 3.2.)
What are the optimum and maximum sizes of the project pipeline? This will be based in part on the availability of resources. You'll want to know these limits before you complete the selection process.
In Chapter 2.1, we described several options for ranking candidate projects. You can use any or all of these in your PPM system. The team will want to decide which methods to use and make sure that practices and tools are available to support these methods.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.