3 Keys to Successfully Managing Your Complex Project Portfolio

3 Keys to Successfully Managing Your Complex Project Portfolio

Managing an organization’s project portfolio can be a headache. The bigger the organization, the more difficult it is to coordinate the projects and resources. Plus, there is a greater amount of coordination needed. Because of this, it’s crucial to equip enterprise portfolio managers with the tools and skills to effectively manage the complex tasks at hand.

First, it’s important that portfolio managers have the most up-to-date data readily available to them. This allows them to make informed decisions without having to spend valuable time pulling together and crunching numbers. It’s critical that your enterprise portfolio management solution compiles your organization’s valuable data in one place so you can make intelligent, informed decisions with ease.

Once you have all your data, you should gather feedback from your organization’s leadership. These people, including your c-level executives and other leaders, have a solid grasp on your organization’s strategic objectives and how those goals align with the portfolio. It’s key that the portfolio decisions your organization makes align with its goals. This prevents your organization from devoting resources to projects and processes that aren’t valuable.

Finally, once you have received the data at hand and the feedback from upper management, it’s critical that you continue to compile and reference data on various assets and projects throughout their duration. With the right enterprise portfolio management solution in place, you will maintain complete visibility into your organization’s projects and resources. This allows you to reallocate resources as projects fall behind schedule or assets near the end of their useful life and must be replaced.

Enterprise portfolio management tools like CorasManage provide organizations with a comprehensive set of project portfolio management tools that simplify how you run your business. By connecting to your data, you’re able to pull your external sources into a series of dashboards, giving you improved visibility across your organization. Fully customizable, CorasManage will be the last enterprise portfolio management solution you will ever need.