Idea Screening for Project Portfolio Management

Ideation is an essential process to help your organization progress. Known as the act of developing new concepts and ideas, any employee in your organization can submit their products to the company. You can receive input from partners, customers, marketing executives, sales professionals, as well as IT experts and catalogue these ideas into a single database. What makes ideation a profitable step is the screening and approval process that can help your business perform more efficiently and deliver to your customers.

Resource planning, budget allocation, practicality, and final results are among the many things that are considered during idea screening for your company’s project portfolio management. Other factors like revenue projections, currency codes, expected costs, benefits, as well as start and end dates are also specified. After an idea submitted by an employee is researched and backed by necessary data, you can begin the process of idea screening for your IT project portfolio.

How to carry out idea screening

After preliminary search on the submitted idea has been completed, you can decide whether or not you want to develop and implement the idea. With the combined opinions of experts in the committee, the team as well as the manager deliberates on the feasibility of the idea. All ideas should be sent through a rigorous review cycle before it is recommended for a real project. This review process is usually initiated when the idea is being submitted for consideration. Idea screening and review process can have two results – Go or Kill.

The process manager or IT manager reviews the idea after it is submitted and decides whether or not to launch another investigation. The investigation and review process can involve multiple teams that explore different aspects of the idea and bring forth the positives and negatives to the committee. This review process finally leads to a final score review.

‘Go’ or ‘Kill’: The final step of idea screening

At this stage, the team of experts decides whether to go with the idea or kill it. The sub process of scoring the idea also compares it to different company goals for relevance and practicality. If the idea is being held or killed, they are then moved to an idea storage vault and saved for future use if necessary. On the other hand, if the idea is given the green signal, a new project is automatically created while the final score is entered into the review page. The score is automated and is calculated based on the average of all entries.

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