Portfolio Management

The Secrets to Managing an Innovation Portfolio


Managing a portfolio of innovation projects is very different from traditional portfolio management. Innovation projects hold more uncertainty. It is usually difficult, if not impossible, to provide good estimates and a detailed project plan. And while most organizations care about managing the development of marketable new ideas, few really know how to foster them for…

How to Fill the Potholes in your Business Requirements


Digesting business requirements written by someone else can be challenging, depending on the writers experience, knowledge, and ability, so to make things somewhat easier, I provide a template for my clients to use. Before they start their requirements, I will meet with them to explain how to use the template and to discuss any questions…

Improving Project Portfolio Management Maturity: Resource Leveling


By Claire Schwartz A quick trip to Wikipedia yields the following definition for resource leveling: ‘a project management technique used to examine unbalance use of resources (usually people or equipment) over time, and for resolving over-allocations or conflicts.’ In other words, through resource leveling we can ensure that the project schedule is reasonable and realistic…

The Last Impression Is Vital in Project Portfolio Management


When thinking about development project portfolio management it is not the first impression of a project but the last one that matters most. It is not about how one enters a party but how one leaves it. It does not help if a person (project) is pretty and witty when entering a party (project portfolio)…

Why You Should Always Conduct a Feasibility Analysis on a Project?

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According to a report published by PM Solutions in 2011, an average of 37% projects fail every year. The report incorporated data from 163 companies which handled projects of at least $200 million annually, claiming $74 million at risk for each company.  The study attributes the top reasons for this failure to unclear understanding of…

RACI Matrix Basics – how to use one

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The RACI matrix is a tool used to help project managers better delegate tasks throughout a project and to stop or prevent project members doubling up on tasks and responsibilities. RACI is an acronym standing for Responsible Accountable Consulted Informed One of the difficulties a project manager can face is having people not take responsibility…

Roles and Responsibilities of a Project or Program Director

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According to the Bureau of Labor Statistics, aspirants to the position of Project Director may have to face tough competition to get the through 2018. However, candidates with diverse work experience are expected to get an edge over those with a specialized skill set. A project or program director is often responsible for the overall…

Project Risk Assessment Basics

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The success of any project depends to a large extent on overcoming any and all risks to that project. You cannot be too careful. Knowing the risks is half the battle and being able to avoid or overcome such risks completes the picture. Should you be concerned about risks? Yes, indeed. In creating the list…

How you can reduce the cost of meetings and workshops?

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On the one hand it is a critical mistake to neglect to hold meetings. Meetings enable the sharing of ideas, the communication of progress, the sorting of problems and the cohesion of the team. But on the other hand, meetings take time. And too many meetings can in fact be costly, slow down progress and…

Project Management Niche Social Network High-End PM Celebrates Members from Over 50 Countries


High-End PM, the new, niche social network targeted toward the most successful and influential leaders in the project management industry, today celebrates connecting members from over 50 countries. Chicago, IL (PRWEB) Project, program and portfolio managers from over 50 countries around the world have discovered a new, niche project management social network: High-End PM, http://www.highendpm.com…