Develop a Project Portfolio Management Strategy Sample
As CIO, there are too many projects and not enough resource capacity to deliver projects on time, on budget and in scope with high quality. Prioritizing projects against one another is difficult in the face of conflicting priorities and agenda; therefore, projects with dubious value or benefits consume resource capacity. Meanwhile, business and project sponsors approve projects without considering the scarcity of resource capacity and are frustrated when the projects fail to deliver or linger in the backlog.
This blueprint will help you create a coherent strategy to support your organization’s project governance with project portfolio management (PPM). A PPM strategy will help align many moving parts towards a central goal of maximizing the value of your project portfolio, so that decisions on project portfolio is made sensibly, reasonably, and realistically. Develop your PPM strategy by following our three-phase methodology:
- Get executive buy-in for your PPM strategy.
- Align PPM processes to your strategic goals.
- Complete your PPM strategic plan.
Time is money: therefore, the portfolio manager is accountant of time. Let the PPM strategy help you fulfill that role.