What is involved in Project Portfolio
Find out what the related areas are that Project Portfolio connects with, associates with, correlates with or affects, and which require thought, deliberation, analysis, review and discussion. This unique checklist stands out in a sense that it is not per-se designed to give answers, but to engage the reader and lay out a Project Portfolio thinking-frame.
How far is your company on its Project Portfolio Management journey?
Take this short survey to gauge your organization’s progress toward Project Portfolio Management leadership. Learn your strongest and weakest areas, and what you can do now to create a strategy that delivers results.
To address the criteria in this checklist for your organization, extensive selected resources are provided for sources of further research and information.
Start the Checklist
Below you will find a quick checklist designed to help you think about which Project Portfolio related domains to cover and 145 essential critical questions to check off in that domain.
The following domains are covered:
Project Portfolio, Project portfolio management, Aggregate project plan, Change control, Comparison of project-management software, Contract management software, Estimation, Project funding, Project management, Project management office, Project management simulation, Project management software, Project manager, Resource, Resource management, Risk Management, Schedule, SimulTrain, Single version of the truth:
Project Portfolio Critical Criteria:
Be clear about Project Portfolio risks and give examples utilizing a core of simple Project Portfolio skills.
– Record-keeping requirements flow from the records needed as inputs, outputs, controls and for transformation of a Project Portfolio process. ask yourself: are the records needed as inputs to the Project Portfolio process available?
– How can we incorporate support to ensure safe and effective use of Project Portfolio into the services that we provide?
– How do you organize project portfolios?
– What is project portfolio management?
Project portfolio management Critical Criteria:
Air ideas re Project portfolio management leadership and mentor Project portfolio management customer orientation.
– How do your measurements capture actionable Project Portfolio information for use in exceeding your customers expectations and securing your customers engagement?
– What management system can we use to leverage the Project Portfolio experience, ideas, and concerns of the people closest to the work to be done?
– What are your key performance measures or indicators and in-process measures for the control and improvement of your Project Portfolio processes?
Aggregate project plan Critical Criteria:
Categorize Aggregate project plan results and separate what are the business goals Aggregate project plan is aiming to achieve.
– Think about the functions involved in your Project Portfolio project. what processes flow from these functions?
– Think of your Project Portfolio project. what are the main functions?
– Are accountability and ownership for Project Portfolio clearly defined?
Change control Critical Criteria:
Discuss Change control visions and plan concise Change control education.
– How do mission and objectives affect the Project Portfolio processes of our organization?
– Does the Project Portfolio task fit the clients priorities?
– What are specific Project Portfolio Rules to follow?
– Why is change control necessary?
Comparison of project-management software Critical Criteria:
Investigate Comparison of project-management software results and maintain Comparison of project-management software for success.
– How will you know that the Project Portfolio project has been successful?
– Do we all define Project Portfolio in the same way?
– How would one define Project Portfolio leadership?
Contract management software Critical Criteria:
Grade Contract management software visions and proactively manage Contract management software risks.
– Who will provide the final approval of Project Portfolio deliverables?
– What is Effective Project Portfolio?
Estimation Critical Criteria:
Sort Estimation decisions and document what potential Estimation megatrends could make our business model obsolete.
– How do risk analysis and Risk Management inform your organizations decisionmaking processes for long-range system planning, major project description and cost estimation, priority programming, and project development?
– What is the purpose of Project Portfolio in relation to the mission?
– For estimation problems, how do you develop an estimation statement?
– Should managers do the estimation of Product Backlog Items?
Project funding Critical Criteria:
Confer re Project funding adoptions and frame using storytelling to create more compelling Project funding projects.
– Have the types of risks that may impact Project Portfolio been identified and analyzed?
– Are we Assessing Project Portfolio and Risk?
Project management Critical Criteria:
Exchange ideas about Project management visions and diversify by understanding risks and leveraging Project management.
– There is lots of discussion about the role of a project manager; whether a project manager is needed in the agile world or not. How much and which way a traditional project manager has to change his/her management style or way of working in order to be an agile project manager?
– From an organizational perspective, what are the trade-offs involved in shifting all project management to an agile approach, versus maintaining a mixed portfolio of agile and traditional development?
– What are our best practices for minimizing Project Portfolio project risk, while demonstrating incremental value and quick wins throughout the Project Portfolio project lifecycle?
– Are there contextual conditions, such as the size of the project or nature of the task, that signal a better fit for agile versus traditional project management approaches?
– Just what is a project management office, and how can it help you address the unique project management challenges in your organization?
– How much effort and investment in time and resources will be required to develop new tools, templates and processes?
– So, if the project no longer needs a detailed master project plan, why does it need a project manager?
– Is there a Project Portfolio Communication plan covering who needs to get what information when?
– Why should a client choose a project team which offers agile software development?
– Justification: what are your research questions and how do you motivate them?
– Will reporting methods be different for agile versus traditional projects?
– Can Agility Work With a Waterfall Project Management Process in our Setting?
– What work wouldnt get done if no more funds were added?
– Can scrum do the same for globally distributed teams?
– What is the Technical aspect of Project Management?
– What is the meaning of success in this context?
– How familiar are we with Agile project management?
– What is agile project management?
– So then, what is a virtual team?
– What is Project Management?
Project management office Critical Criteria:
Nurse Project management office strategies and inform on and uncover unspoken needs and breakthrough Project management office results.
– What are the key considerations and decisions that must be made to ensure your project management office is appropriate for your organization?
– Do several people in different organizational units assist with the Project Portfolio process?
– Which individuals, teams or departments will be involved in Project Portfolio?
– Does your organization have a Project Management Office (PMO)?
– Does your organization have a Project Management Office?
– Is a Project Portfolio Team Work effort in place?
Project management simulation Critical Criteria:
Communicate about Project management simulation management and catalog Project management simulation activities.
– How do we make it meaningful in connecting Project Portfolio with what users do day-to-day?
– Have all basic functions of Project Portfolio been defined?
– Who sets the Project Portfolio standards?
Project management software Critical Criteria:
Adapt Project management software engagements and arbitrate Project management software techniques that enhance teamwork and productivity.
– What are your current levels and trends in key measures or indicators of Project Portfolio product and process performance that are important to and directly serve your customers? how do these results compare with the performance of your competitors and other organizations with similar offerings?
– Why are Project Portfolio skills important?
Project manager Critical Criteria:
Talk about Project manager quality and look at the big picture.
– With agile processes promoting the concept of self-directed teams, is there room for the conventional project manager or does this role also need to evolve to suit the principles of the new paradigm?
– How much and which way a traditional project manager has to change his/her management style or way of working in order to be an agile project manager?
– Do we have these warning signs: This project is not that big and everyone knows what they are doing -why do we need a project manager?
– How can an agile project manager balance team level autonomy and individual level autonomy in agile software teams?
– What are the actions taken by project managers when leading and implementing a transformational change initiative?
– What should the project manager(s) do differently next time your organization undergoes a change process?
– What processes do project managers and content strategists use to collect content for client websites?
– What are the most important skills practitioners consider make an effective people project manager?
– So, if the project no longer needs a detailed master project plan, why does it need a project manager?
– What knowledge, skills and characteristics mark a good Project Portfolio project manager?
– What project management qualifications does the Project Manager have?
– Can project managers measure project status at any point in time?
– What is the necessity of a Project Manager?
– What is the duty of a Project Manager?
– What was the project manager best at?
– Are there Project Portfolio problems defined?
– Who are the project managers?
– What is our Project Portfolio Strategy?
Resource Critical Criteria:
Merge Resource projects and document what potential Resource megatrends could make our business model obsolete.
– How do you decide which processes within your overall work systems will be internal to your organization (your key work processes) and which will use external resources?
– Which cloud Service Management process monitors and reports on allocation and utilization of resources by consumers in order to generate a chargeback report?
– How do we achieve sufficient predictability in developing the system so as to enable meaningful costed and time-bounded, resourced plans to be formed?
– Are Human Resources subject to screening, and do they have terms and conditions of employment defining their information security responsibilities?
– Has the organization determined how to clearly communicate what is expected of employees and resources available to them to help them transition?
– Which parameter determines the maximum amount of cpu and memory resources that can be consumed by a child resource pool?
– What finance, procurement and Human Resources business processes should be included in the scope of a erp solution?
– Does mgmt provide sufficient resources to establish, implement, operate, monitor, review, maintain and improve the ISMS?
– Should pay levels and differences reflect what workers are used to in their own countries?
– Are adequate resources allocated to appropriately deploy user-access management controls?
– What is the most important feature that an ERP must have in terms of Human Resource?
– Do you need to spend significant resources now, or can you wait a few years?
– Which process categorizes resource pools based on performance and capacity?
– Can you think of other ways to reduce the costs of managing employees?
– How can we more efficiently on-board and off-board employees?
– Does all hr data receive the same level of security?
– Has AGILE staff managed staff and resources?
– What is your resource capacity?
– What resources are necessary?
– Is the hr plan effective ?
Resource management Critical Criteria:
Discuss Resource management failures and modify and define the unique characteristics of interactive Resource management projects.
– Imagine you work in the Human Resources department of a company considering a policy to protect its data on employees mobile devices. in advising on this policy, what rights should be considered?
– What are your results for key measures or indicators of the accomplishment of your Project Portfolio strategy and action plans, including building and strengthening core competencies?
– Is maximizing Project Portfolio protection the same as minimizing Project Portfolio loss?
– Do the Project Portfolio decisions we make today help people and the planet tomorrow?
– Can we reuse our existing resource management and configuration tools?
– Why study Human Resources management (hrm)?
Risk Management Critical Criteria:
Add value to Risk Management tactics and intervene in Risk Management processes and leadership.
– The full extent of a given risk and its priority compared to other risks are not understood. Failure to address the most important risks first leads to dangerous exposures. Nearly all managers believe that their risks are the most important in the enterprise (or at least they say so) but whose risks really matter most?
– The intent of risk mitigation (plan) execution is to ensure successful risk mitigation occurs. Do we have answers to the question how can the planned risk mitigation be implemented?
– Are there project management practices that remain constant across traditional, hybrid, and agile approaches (e.g., Risk Management, stakeholder management, team building)?
– What kind of guidance do you follow to ensure that your procurement language is both specific and comprehensive enough to result in acquiring secure components and systems?
– Is it understood throughout the organization that negative behavior is penalized and positive behavior rewarded despite earnings and performance?
– Has Cybersecurity been identified in the physical security plans for the assets, reflecting planning for a blended cyber/physical attack?
– How could risks affect the overall outcome of projects in probabilistic terms of cost and schedule?
– Do we leverage resources like the ESC2M2 or DOE Risk Management Process for Cybersecurity?
– Which risks are managed or monitored in the scope of the ITRM function?
– What are the core responsibilities of our Risk Management committee?
– How can Risk Management be tied procedurally to process elements?
– Are there sufficient tools and staff available to adequately assess risk?
– How are risk assessment and audit results communicated to executives?
– Which of our information is connected to the internet?
– Why maintain a Risk Management program?
– Have reporting expectations been established?
Schedule Critical Criteria:
Design Schedule management and finalize specific methods for Schedule acceptance.
– Are items returned for calibration as scheduled and/or when found to have broken calibration seals, damaged, or malfunctioning?
– Allow import and data management processes to be immediately executed or scheduled to run on regular intervals?
– If an introductory phase is called for, is the weight scheduled sufficient to break through to the consumer?
– Schedule feasibility. can the solution be designed and implemented within an acceptable time period?
– Is there a schedule for required password updates from default vendor or manufacturer passwords?
– Schedule feasibility -can the solution be designed and implemented within an acceptable time?
– Are any problems that cause schedule slips identified as risks prior to their occurrence?
– What scenarios in terms of projected cost, schedule, and scope could/should we plan for?
– Has extra weight been scheduled in geographic areas of high sales potential?
– Is the project on schedule, on budget, and meeting specifications?
– Has the time for updating the information been scheduled?
– What is the schedule and budget for data collection?
– Schedule -can it be done in the given time?
– Cost / schedule impact analysis required?
– Do you have an up-to-date schedule?
– Is the schedule too aggressive?
SimulTrain Critical Criteria:
Pay attention to SimulTrain adoptions and spearhead techniques for implementing SimulTrain.
– What threat is Project Portfolio addressing?
Single version of the truth Critical Criteria:
Deduce Single version of the truth tasks and innovate what needs to be done with Single version of the truth.
– What are the usability implications of Project Portfolio actions?
This quick readiness checklist is a selected resource to help you move forward. Learn more about how to achieve comprehensive insights with the Project Portfolio Management Self Assessment:
Author: Gerard Blokdijk
CEO at The Art of Service | http://theartofservice.com
Gerard is the CEO at The Art of Service. He has been providing information technology insights, talks, tools and products to organizations in a wide range of industries for over 25 years. Gerard is a widely recognized and respected information expert. Gerard founded The Art of Service consulting business in 2000. Gerard has authored numerous published books to date.
To address the criteria in this checklist, these selected resources are provided for sources of further research and information:
Project Portfolio External links:
What is Project Portfolio Management? | LeanKit
Project Portfolio | Dreamline Modular Homes
Eclipse Project Portfolio Management – Login
Project portfolio management External links:
Service & Project Portfolio Management Platform | …
Eclipse Project Portfolio Management – Login
Project Portfolio Management Software – Home | Innotas
Aggregate project plan External links:
Aggregate Project Plan – mgmtblog.com
Aggregate Project Plan (APP) – explained – YouTube
Aggregate project plan Flashcards | Quizlet
Change control External links:
[PDF]09 1 of 26 Title CHANGE CONTROL PROCESS TABLE …
Change control system – Engineering Procedures Handbook
[DOC]Change Control Procedure – European Commission
Contract management software External links:
ContractSafe | Free cloud contract management software
Contract Management Software | Contract Insight
Contract Management Software | ContractWorks
Estimation External links:
GitHub Pages – Bitcoin Fee Estimation
Blood Alcohol Chart For Estimation – Breathalyzer
AASHTOWare Project Software Cost Estimation – New Jersey
Project funding External links:
Project Funding/SBLC/BG/United Investors Co.Ltd/London
McKinley Project Funding
Cost Reduction Services – Energy Services – Project Funding
Project management External links:
CCRS | Project Management Institute
Project Management Institute – Official Site
Project management office External links:
Project Tools | Project Management Office
About PPM – Project Management Office – Purdue University
Project Management Office – Purdue University
Project management simulation External links:
Project Management Simulation – EssayDomain.com
[PDF]ONLINE SIMULATIONS project Management Simulation
Project Management Simulation | Management Concepts
Project management software External links:
monday – Project management software teams actually love
Huddle | Team Collaboration & Project Management Software
Project manager External links:
Project Manager Skills List and Examples – The Balance
Project Manager Resume Sample & Writing Guide | RG
What is a Project Manager? – CEG
Resource External links:
The Title Resource Network
First American – Title Resource Database
Title Resources – Official Site
Resource management External links:
Resource Management Inc.
SHRM Online – Society for Human Resource Management
RxClearinghouse – Your medical resource management …
Risk Management External links:
http://Risk management is the identification, assessment, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability and/or impact of unfortunate events or to maximize the realization of opportunities.
Global Supply Chain Risk Management Solutions | Avetta
Risk Management Jobs – Apply Now | CareerBuilder
Schedule External links:
Major League Baseball Schedule | MLB.com
NASA Launch Schedule
STARZ TV Schedule
SimulTrain External links:
SimulTrain® powered by STS
SimulTrain Project Management – Intro V2 – YouTube
SimulTrain (@SimulTrain) | Twitter
Single version of the truth External links:
[PDF]A Single Version of the Truth September 2016