Take a fresh look at Portfolio Management

Every now and then it makes sense to take a fresh look at your business Project Portfolio Management. Some might even be thinking of setting up a Project Management Office (PMO).

But creating an internal team can be fraught with difficulty. There’s the challenge of gaining executive support for creating what could be seen as an extra level of administration and bureaucracy. Then there is the issue of training and most people who haven’t set up a PMO before don’t know what’s involved in setting up a PMO.

A better way to refresh your project portfolio management might be by getting some expert advice. To give your team the best possible chance of success it is important to ask yourself some key questions. How will we measure success? Do you know how senior management will judge whether or not an initiative has been a success? What timeframe are you looking at to deliver in? Can you track your progress against those measures that prove value? Are you clear on what we are trying to do? And at what level you are trying to do it?

There are no set rights and wrongs when it comes to objectives for Project Management. But you need to make sure any objectives are realistic, achievable and that you have management buy-in for what you think you can achieve is a good place to start.

The trouble is these are just some of the questions you should be asking yourself before taking on setting up a PMO for your organisation. If you are taking a fresh look at your Project Management tools maybe some external expertise can help. HPS can help you focus on the right thing. HPS can make sure that you are spending your time thinking about the questions that really matter and implementing the project management tools that are right for your business, get in touch with our team to discuss your needs +44 203 174 0070.


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