8 THE PORTFOLIO MANAGEMENT PMO AND METRICS
CHAPTER OVERVIEW
To avoid metrics mania and save time and headaches, companies have given the responsibility of metrics management to various traditional or corporate project management offices (PMOs). However, as companies recognize the need for specialized PMOs, such as the portfolio management PMO, specialized metrics may be needed. The PMO generally establishes the metrics needed to validate the performance of the overall portfolio of projects as well as strategic metrics that are needed for executive decision making.
CHAPTER OBJECTIVES
- To understand the responsibilities of a portfolio management PMO
- To understand the differences between traditional metrics and value-based metrics
- To understand the types of metrics needed by a portfolio management PMO
- To understand the need for crisis dashboards
KEY WORDS
- Crisis dashboards
- Portfolio management PMO
- Value-based metrics
- Intangible value metrics
- Strategic value metrics
8.0 INTRODUCTION
Advances in project metrics have been rapid, but advances in portfolio metrics have been slow because not all companies maintain a project management office (PMO) dedicated to portfolio management activities. Some companies maintain just a single PMO. Although PMOs are often created to provide an independent view of project performance, metrics must also be established to measure PMO success as well as portfolio success.
Today, it is becoming more common to have a PMO dedicated to the management ...
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