What makes a project successful? One of my research interests is why projects fail, and occasionally I find myself standing in front of groups of people explaining what makes a promising project fall short. It’s a pretty gloomy topic, so after thoroughly depressing everyone by covering the statistics (71% of projects fail each year! But [...]
This is Part 5 of a series on Portfolio Management from Nancy Ingalls at Ingalls Consulting.
We will conclude our series with a look at a key study and conclusion of findings which will answer this question: Why should a business do Information Technology Portfolio Management?
Introduction to the Study
The process of Portfolio Management involves decision-making based on the entire corporate environment. In order to make the best choices for the corporation, management must evaluate each initiative as it relates to corporate goals and objectives, available resources and project dependencies. This is a continual process that evolves throughout the budget year.
This is Part 4 of a series on Portfolio Management from Nancy Ingalls at Ingalls Consulting.
We’ll continue our discussion to address this question: How does Information Technology Portfolio Management affect asset and project planning?
The main components to Portfolio Management are the Discovery Portfolio, Project Portfolio and Asset Portfolio. The Discovery Portfolio captures opportunities, ideas and concepts. Contained in the Project Portfolio are proposed and approved projects that expand, replace or correct information technology solutions. Asset Portfolio items are a compilation of people, applications, information, and processes. This series will investigate the changes required to Project Management and Asset Management for the implementation of a portfolio. With the hundreds of billions of dollars in information technology spending each year, the importance of the problem cannot be understated. Many companies do not have the processes in place for tracking current investments or validating expected results. A continual stream of information on projects and resources to evaluate and adjust investments is needed to best manage the portfolio.