Gartner Research

Six Steps to Keeping Basic Portfolio Management Basic

Published: 08 November 2012

ID: G00239516

Analyst(s): Robert Handler

Summary

Following cookbook approaches to project portfolio management has led to lots of process and little value. Here, we outline a no-frills approach that follows the spirit and intent of portfolio management and delivers results quickly.

Table Of Contents
  • Key Challenge

Analysis

  • Develop a "Doable" Plan for Project Portfolio Management That Makes Sense
  • Keep to the Basics — Eschew the Politics
    • Identify Key Stakeholders — Those Who Declare Success or Failure
    • Create a Portfolio Governance Body or Investment Steering Committee to Legitimize Go and No-Go Decisions
    • Develop a Portfolio Plan That Reflects Enterprise Objectives
    • Collect Enough Information on the Current Portfolio to Enable Effective Decision Making
    • Compare Current Portfolio Results to the Portfolio Plan to Enable Objective Alignment
    • Adjust the Project Portfolio to Match the Portfolio Plan

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