Some managers’ build a solution from the top down
they select a portfolio management tool thinking this will lead to an executive dashboard to help make informed decisions. However, without the core data of the existing project plans, which aggregates and reports the status of the company’s commissioned projects, maintenance activities and resource consumption , the top down approach falls short of delivering the desired result. Forecasting continues to be done in a static view.
From our experience, we recommend starting from the bottom up, establishing a solid project data management process, which rolls up resource, budget and timeline data to the program/portfolio level. Tool enhancement, customization and scheduling best practice is a necessary place to start. Once this practice is mature, you can progress to an enterprise solution with all the benefits of portfolio management.
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