Create a Valuable Project Portfolio

This is a blog written by Mr. Michael Kaplan. In managing project portfolio, prioritize those that builds better business values for the organization.

Growing up: From Engaging the Business to Coping with Change

Project prioritization remains one of the PMO’s key opportunities to generate business value.

The PMO remains under real pressure to generate business value within the limits of modest budget growth. To manage with this challenge, PMOs need to ensure the business project portfolio reflects a balance of projects that maximizes benefits for the enterprise.

The challenges PMOs face in balancing project portfolios include:

• Understanding project value and generating consensus 
• Keeping up with changing business needs 
• Aligning the project portfolio with business’ priorities 

These challenges were mirrored in a finding from a Forrester Research survey of PMOs, who listed poor sponsorship, politics, project coordination, misalignment between business strategy and the investment pool as the key hindrances to project prioritization.

Continue reading:  SoftPMO™ Social Project Management: Create a Valuable Project Portfolio