Document Detail

Title: IR303-2 - Managing a Portfolio of Projects: A Playbook for Success
Publication Date: 10/1/2014
Product Type: Implementation Resource
Status: Tool
Pages: 52
Helps users identify, adapt, develop, and recommend practices for portfolio management, specifically in the areas of resource management, financial management, risk management, and portfolio metrics. This resource includes a portfolio management system example and chapters on the following topics: portfolio formation strategies; portfolio management; recommended process for portfolio performance management; and recommended practices for portfolio management.
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Project professionals have a plethora of recommended project management practices available to help them deliver individual projects, but they need to know how to apply these practices when they manage a portfolio of projects. To address this need, CII chartered Research Team 303 to examine the essential question, “What practices, techniques, processes, and technologies are most effective for managing a portfolio of projects?”

After investigating the topic, the research team developed this resource, the portfolio management playbook, as a how-to manual of recommended portfolio management practices. It includes practices for resource management, risk management, financial management, change management, front end planning, and lessons learned—all at the portfolio level. It also recommends a process for portfolio performance management and suggests key performance indicators. To illustrate these practices, it presents an example of a portfolio management system that includes portfolio metrics and dashboards.

Organizations just venturing into portfolio management, as well as those with experience at it, can use this playbook. However, because the research team created it by collecting the practices of many of the most successful and experienced firms, the material may seem familiar and straightforward to organizations with an established portfolio management system. However, these organizations may still find in it new and useful approaches to consider implementing to improve their systems.

Because the playbook presents these proven practices in an accessible format, firms that are new to or just considering implementing portfolio management can confidently use it to set up practices, processes, and metrics for effective portfolio management.