O'Reilly logo

Effective Project Management: Traditional, Agile, Extreme, 7th Edition by Robert K. Wysocki

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 17

Establishing a Project Portfolio Management Process

He who attempts too much seldom succeeds.

—Dutch proverb

A good way to outline a strategy is to ask yourself: “How and where am I going to commit my resources?” Your answer constitutes your strategy.

—R. Henry Miglione, Oral Roberts University, An MBO Approach to Long-Range Planning

CHAPTER LEARNING OBJECTIVES
After reading this chapter, you will be able to:
  • Understand current practices in corporate Project Portfolio Management and how they are applied
  • Know how to deliver explicit business value through a strategically aligned project portfolio
  • Adapt the concepts and practices of Project Portfolio Management to Agile Project Portfolio Management

Organizations that invest in information technology (IT) projects—whether hardware-focused, software-focused, or both—must have a plan for that investment. The dollars needed to fund these projects almost always exceed the dollars available, so the organization is faced with a decision as to which projects should be funded, funded partially, or not funded at all. Is this a short-term decision that looks only at the coming budget cycle, or is there some long-term strategy that spans multiple budget cycles? How can the funding agency determine whether an IT investment is a good investment? Can some criteria be applied? The answers to these questions are simple in some cases and extremely difficult in others. This chapter uses a process life cycle approach that traces the ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required