Project Portfolio Management Prerequisites

In order to be successful with Project Portfolio Management a number of prerequisites must be met:

  • The will to change;
  • A pathfinder project;
  • Celebration of successes;
  • Proper selection, training and coaching of employees;
  • Time to manage Project Portfolio Management as an asset.

In order to start with Project Portfolio Management you should first hold a kick-off meeting. This should a workshop type of activity, so that through a brainstorm of all kinds of issues can be raised. The workshop should be lead by a facilitator, and a scribe should record the results. The next step is organize all these issues in a structured way. An in this domain experienced analyst should execute activities as:

  • Identification of further and / or related issues (list of all issues).
  • Formalize all issues in the same way (all issues are fully described).
  • Standardize them (all issues are described in the same way).
  • Generalize (make them more abstract).

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