Promotion

A project request on the shortlist or portfolio queue does not mean that it can start spending money at any time. The portfolio management acts here as tollgate and orchestrate the process for achieving the authorization of the candidate to become a real project. The involvment of the portfolio manager is depending on the maturity level of the PMO.

promotionAt the lowest level the portfolio manager will not even know (or only by chance) that a new project was ramped up, but growing along the maturity curve he or she will become more and more pro-active. At level three (see maturity level modell) the portfolio manager is managing the shortlist centrally and support the project planning. Still the promotion of a certain request is triggered by the requesting project teams. At this maturity level a follow-up process called balancing is triggered to measure the impact of the up-coming project on the portfolio (resources, funding, value and risk).

So at stage three the balancing follows the promotion where at level four and five the promotion becomes also triggered by the portfolio manager who will up-front balance the portfolio by choosing the best valued project at the lowest current risk. Another option for choosing the right candidate are dependencies. Thes kind of projects enables follow-up projects to be executed and should be promoted rather earlier than later.

Independent of the levels the involvement of the portfolio management in the project planning is a win-win situation for both the projet teams and the portfolio manager.

  • The project teams profit from the oversight of the portfolio manager over the entire portfolio so he or she can give input on dependencies, availability of resources but also support them in terms of staffing the projects.
  • The portfolio manager on the over sight gets all the planning information and details of the business case which is a key input to measure the overall portfolio progress and development.