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Portfolio Management

While project managers are focused on “getting the project done right” Portfolio Managers must focus on “getting the right projects done”.  This places the role of the Portfolio Manager in a very key position that helps drive strategy in an organization. So how does the Portfolio Manager accomplish this?

* Develop a process for prioritizing all projects across the organization

–  A key technique for doing this is to develop a scorecard that is aligned to the organizations strategic objectives.

– Force ranking the project list utilizing the above mentioned scorecard

* Ensuring that the portfolio has the best chance of success by allocating the organizational resources required to successfully deliver the projects

* Balancing the portfolio in such a way that short-term, mid-term, and long-term objectives are addressed in a reasonable mix that satisfies project sponsors.

* Track the implementation and benefits against initial estimates

* Manage the portfolio with an end-to-end governance process that periodically reviews and reassesses the direction of the portfolio.

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