NEPMC understands that with limited resources, proper management of an organization’s project portfolio can be critical to the success of the organization. An effective project selection methodology to manage your project portfolio allows your organization to:

To accomplish this, successful portfolio management involves more than just the initial selection of projects. It provides a dynamic decision process where the organization’s project portfolio continues to be reevaluated and revised as required. Most review processes are designed to verify that projects that are currently being executed are being done correctly. Effective portfolio management expands this to include criteria which will determine if the correct projects are actually being performed. By applying this criteria to reviews/gates that are performed after specific stages in the project lifecycle, each project can be compared and prioritized against all other existing and potential projects. By consistently applying this criteria across all projects, the process provides a level playing field on which all projects can be objectively assessed and compared. This will then allow your organization to determine the best utilization of your resources going forward, and based on the comparison, projects may be accepted or declined, accelerated, delayed, put on hold, or even cancelled.

NEPMC can help establish a gate process within your organization, including the definition of relevant deliverables and assessment criteria, that emphasizes early identification of data that is operational, reliable, and discriminating to provide for consistent evaluation and selection of projects. NEPMC can also perform a review of your already established gate process as well as act as independent gate reviewers as part of that process.

For more information on our Portfolio and Program Management Services, please contact us.