Building Project Management Centers of Excellence

Establish Project Portfolios

Creating a project portfolio is part of the forecasting process. It involves developing a list of projects that directly support achieving a business unit's goals and objectives. The corporate project portfolio is a combination of the project portfolios created within the various departments of the company, starting with a corporate project list and extending down through the organization structure to the department level.

Compilation of all these lists into a master project portfolio ensures that duplications are eliminated and that projects with similar or competing goals and objectives are identified. In a large organization this can become a daunting task, especially if a single source with overall responsibility ...