During the ‘Portfolio and Program Management’ phase, we aim to implement a tool designed for the comprehensive management of all projects within the organization. This tool showcases the entire suite of projects as a hierarchical structure, segmented by project type.
The categorization of projects is something that needs a mutual agreement between the customer and the service provider. Furthermore, macro-level calendar graphs of each project are presented, enabling the identification of relationships or conflicts among projects, the priority of certain project tasks, and ultimately leading to more efficient management of all organizational projects.
Here’s what we aim to achieve by the end of this phase:
- A defined hierarchical structure of the entire project portfolio has been established, facilitating the launch of specific programs and project portfolios, and their clear allocation to groups with a unified goal.
- The framework to set relationships between various projects has been structured.
- A procedure for prioritizing projects and balancing project priorities has been devised. The association between projects and priorities aligns with the organization’s long-term development strategy. The process for periodic priority review has been formalized and tweaked. Decision-making levels are delineated.
- Projects that are carried out as part of a single investment initiative or are technologically linked are grouped into programs.
- Customized reporting and dashboard displays according to project programs have been established.
- Project progress indicators have been configured 😀😟
- Projects are automatically sorted by “issues”, aiding in planning investments and reserves for “problematic” projects.
- The ability to monitor the current status of projects at any given time has been incorporated.
- Visual project oversight for senior management has been made simpler.
In terms of the Project Governance Framework, this stage corresponds closely to the principle of portfolio and program management, a key aspect of project governance. The implementation of the tool for simultaneous management of all projects, the development of a clear hierarchical structure, and the establishment of relationships between different projects are all components that will strengthen the project governance framework. This framework helps ensure that all projects align with the organization’s broader strategic objectives, supports decision-making processes, and facilitates risk management. The systematic organization and management of projects within this framework can lead to greater efficiencies and a higher probability of project success.
|This phase is expected to last for 15 business days.
On the Contractor’s end, the responsibilities involve providing a business analyst and a programmer, along with the training and tools necessary for developing project hierarchies and interconnections.
The Customer’s role is to approve the developed project hierarchy and, in collaboration with the service provider, select and outline project evaluation criteria.