The 7 Keys to Success for the Portfolio of Projects
by Paula K. Martin, CEO,
Martin Training Associates
There are seven keys to creating a successful portfolio of projects. These keys highlight what management needs to do to enable project teams across the organization to be effective and efficient. Project effectiveness drives the organization’s ability to add new products and services, expand its capacity to deliver existing products/services, improve organizational functioning, meet regulatory, safety and environmental requirements, etc. Project efficiency allows the organization to reduce time to market, churn out more products/processes/services, faster, improve productivity and reduce costs.
The seven keys to portfolio success are:
| # | Key |
1 |
Commit to improving the project system. |
2
|
Use project management on all projects. |
3
|
Sponsor individual projects. |
4 |
Create a project steering process. |
5 |
Align horizontally. |
6 |
Apply the new accountability. |
7 |
Optimize technical processes. |