Implementing project portfolio management and effective resource management (e.g., Thinking Portfolio® Project Portfolio) can provide organizations with up to 30% efficiency or help reallocate 30% of resources from ongoing projects to more critical and strategic initiatives. In today’s business environment, no organization can afford to miss this opportunity.

During the idea and project proposal phase, most projects and development programs are often aligned with the strategic goals set by the company. In the subsequent analysis phase for initiated projects, it is essential to ensure that the business justifications are on a solid foundation. Detailed project descriptions and cost-benefit analyses are prepared for selected projects, and decisions related to prioritization are made at this stage.

Key questions, discussions, and decision points include:

  • Are our critical resources engaged in the most important and critical projects? This is a crucial question at the beginning of every significant project initiation.
  • Are the projects in the pipeline still aligned with the organization’s strategic goals? This requires continuous monitoring and active PMO tasks.
  • Does the project produce measurable interim goals through which we can concretely ensure that the expected results from the project align with expectations? Projects that produce measurable interim goals receive higher priority than projects for which credible metrics cannot be set for result measurement.
  • Can resources be reallocated in response to changes in the business environment, competitors, and customer expectations? It is crucial to deploy the best players in the matches that matter most to the organization.
  • The overall risk of the project portfolio is assessed by comparing the probability of technical success against the anticipated benefit from the project. Integration with more comprehensive Risk Portfolio Management (e.g., Thinking Portfolio® Risk Portfolio).

Effective resource planning considers people’s expertise and capabilities.

In good project portfolio resource planning, the experience and skills of personnel should be identified. This ensures that resource allocation decisions are based on competencies, skills, and expertise. Competencies can be used to create resource pools that can be more flexibly managed and directed in the project portfolio (e.g., Thinking Portfolio® Project Portfolio)

Are the project outcomes creating replicable processes, products, or services? And in what ways can they be scaled to improve profitability and productivity? Replicability and scalability provide additional leverage for the productivity and profitability of the project outcomes.