Project Portfolio Management: A View From The Management Trenches

10.4. SCORING PROJECTS AND PORTFOLIO

Each project should be scored against the criteria used in the prioritizing of the portfolio. This scoring should be done independently. Usually, the creator of the business case and the sponsor will create the first scores. The business leaders often will review and adjust the scoring based on consensus of the group.

We have found it invaluable to document the scores in a matrix, or scorecard. In addition, recording the reasoning behind the score at the time it is done will save time in the future when reviewing the scorecard with the business leaders.

There are numerous acceptable methods for scoring projects. Some scoring is done on paper, but most often it is done in a computerized spreadsheet program. For those businesses fortunate enough to have PPM software available for use, this feature can often be configured in the tool.

Some examples of scoring methods include prioritization using:

• A combined total value of all groupings into a single number

• Subcriterion scored individually, summed by grouping, and then weighted by grouping

• Subcriterion scored individually, and then weighted by individual subcriterion.

Lesson Learned Start with a simple scoring mechanism. Add more complexity to the scoring after PPM has been in place for a time.

There are multiple methods for scoring the portfolio. This is sometimes referred to as "racking and stacking" the projects. These methods include:

1. Place each individual project into the portfolio and order ...