10 Critical Steps for Successful Project Portfolio Management

Right now, across all sectors of the economy, organizations are grappling with diminished growth rates, tighter budgets, and intense pressure to manage their investment dollars more effectively. In this atmosphere of regulatory requirements and corporate accountability, organizations struggle to make the best decisions at the right time every day.

Portfolio Management elevates information technology discussion to business terms.

Ten critical success factors will help your organization derive the most value from this strategic management process. These factors all contribute to the effective selection, control, and evaluation of projects under a Project Management doctrine.

  1. Senior management commitment and consensus
  2. Communication of strategic objectives
  3. Strategically aligned investment selection
  4. Institutionalized investment management process
  5. Governance framework aligned with enterprise decision-making
  6. Integrated program/project management discipline
  7. Consistent risk and performance measurement
  8. Portfolio reviews to support investment priority realignment
  9. Effective balance of investments
  10. Strategic focus – transforming strategy into operational excellence

Credits: White paper

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