Portfolio management inspiration <\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Good principles in portfolio management<\/span><\/b>\u00a0<\/span><\/p>

There is no single way to approach portfolio management. It is about having a fixed and common way in your company or organization to select\u00a0and implement your projects.\u202f\u202fThe probability of a good result increases significantly when the good principles are followed:<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Portfolio management must reflect the\u00a0organisation’s\u00a0challenges in relation to project implementation<\/span><\/b>\u00a0<\/span><\/p>

• Evaluate yourselves:<\/span><\/i>\u00a0What are some projects being worked on? Are there many small projects or few large ones? How many of them are cross-organizational? How often do you embark on big changes, or are these typically small, gradual changes building on something existing? How often do you get the desired benefits from the projects? Do project budgets hold? Do employees like to participate in projects \u2013 are they queuing up to participate, or should they almost be forced to join?\u202f\u202f<\/span>\u00a0<\/span><\/li><\/ul>
  • When there is a sense of the project landscape and know what it is that typically goes well or bad, then you are much better equipped to know where and when to pay special attention to the project.<\/span>\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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    Portfolio management must be pragmatic\u00a0<\/span><\/span>\u00a0<\/span>
    <\/span><\/strong>Portfolio management must be set up to match the maturity,\u00a0<\/span>strengths<\/span>\u00a0and weaknesses of the company\/organi<\/span>z<\/span>ation. There are undoubtedly areas where the organization works\u00a0<\/span>really well<\/span>\u00a0and areas where mistakes are often made. Whether it is a lack of IT systems, structure\/<\/span>goverance<\/span>\u00a0setup, management follow-up<\/span>\u00a0with more<\/span>, the main challenges are identified.\u202f<\/span><\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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    The key elements need to be\u00a0in control<\/span><\/b>\u00a0
    Whether it is simple or more advanced portfolio management, then the key elements of any portfolio management are:<\/span>\u00a0<\/span><\/p>

    • Clear management\u00a0support<\/span><\/i><\/b>. When management is on target for the strategy, they are also on target for the portfolio.\u202f<\/span>\u00a0<\/span><\/li>
    • Governance structure<\/span><\/i><\/b>.\u00a0Make\u00a0concrete minimum requirements for the project managers, which they must be able to control and be able to report on their projects. Make sure clear decision-making paths in relation to who can decide what about each project and about the portfolio.\u202f<\/span>\u00a0<\/span><\/li>
    • Reporting and tools<\/span><\/i><\/b>. It doesn’t have to be a\u00a0big fancy\u00a0solution. A good simple success parameter for a new tool\/workflow is whether the employees use it in practice.\u202f<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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      The critical areas of Portfolio Management<\/span><\/b>\u00a0<\/span><\/p>

      There are 3 critical areas in portfolio management that need to be\u00a0in control:<\/span>\u00a0<\/span><\/p>

      1. the selection of the right projects<\/span>\u00a0<\/span><\/li>
      2. the ongoing overview<\/span>\u00a0<\/span><\/li>
      3. the implementation of the projects<\/span>\u00a0<\/span><\/li><\/ol>

         \u00a0<\/span>You may lose the strategic overview if this is not under control.<\/span>\u00a0<\/span><\/p>

         Tips for avoiding the critical areas:<\/span>\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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         How to choose the right projects<\/span><\/b>\u00a0
         You must have a clear and unique process to select your projects. It can be annual,\u00a0quarterly\u00a0or monthly, where management selects the most relevant projects in relation to the organization’s challenges, funds and resources.\u202f<\/span>\u00a0<\/span><\/p>

         Important management issues for clarification are:<\/span><\/b>\u00a0<\/span><\/p>

         • Can the project meet one or more strategic objectives and current development\u00a0needs ?<\/span>\u00a0<\/span><\/li>
         • What are the project’s expected costs, resource usage, and results?<\/span>\u00a0<\/span><\/li>
         • Does the project create synergy in the existing\u00a0portfolio ?<\/span>\u00a0<\/span><\/li>
         • What are the consequences if the project is not carried out?<\/span>\u00a0<\/span><\/li><\/ul>

           How to create an ongoing overview<\/span><\/b>\u00a0
           There must be a permanent follow-up of all projects at relevant intervals. The focus is to follow up on critical parameters such as progress, quality, risks, budget and resource consumption. In this way, you get an overview of all projects and the main risks across all projects.\u202f\u202fYou must also regularly assess the continued relevance of the projects in the portfolio, as things may have changed so that the original idea is no longer relevant to the organization.\u202f<\/span>\u00a0
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           How to implement projects effectively<\/span><\/b>\u00a0
           Set clear requirements for the implementation of a project. This requires, among other things, a sharing of responsibilities between the project and management, clear goals for a project’s results, which requires creating methods for measuring profit realization and how to support it in practice.\u202f\u202f<\/span>\u00a0<\/span><\/p>

           You are well on your way with portfolio management when you as management can answer these 5 questions without hesitation:<\/span><\/b>\u00a0<\/span><\/p>

           • Is the portfolio in line with the strategy decided?<\/span>\u00a0<\/span><\/li>
           • Which projects should be started,\u00a0stopped\u00a0or not implemented at all?<\/span>\u00a0<\/span><\/li>
           • What are the consequences of one or more reprioritizations?<\/span>\u00a0<\/span><\/li>
           • How to optimize the use of limited\u00a0resources ?<\/span>\u00a0<\/span><\/li>
           • How and when are resources released for new\u00a0projects ?<\/span>\u00a0<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

             There is no single way to approach portfolio management. It is about having a fixed and common way in your company or organization to select and implement your projects.\u202f\u202f<\/p>","protected":false},"author":2,"featured_media":320,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,1],"tags":[20],"class_list":["post-319","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-portefoeljestyring","category-uncategorized","tag-portefoeljestyring-gode-principper-til-portefoeljestyring"],"_links":{"self":[{"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/posts\/319","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/comments?post=319"}],"version-history":[{"count":68,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/posts\/319\/revisions"}],"predecessor-version":[{"id":4099,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/posts\/319\/revisions\/4099"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/media\/320"}],"wp:attachment":[{"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/media?parent=319"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/categories?post=319"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/moveconsultinggroup.dk\/en\/wp-json\/wp\/v2\/tags?post=319"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}