In project portfolio management, one frequently posed question is, “How is my project portfolio doing?” However, the response to this seemingly straightforward inquiry is far from universal. The answer depends highly on who is asking the question and their specific objectives.
What IT seeks to measure may significantly differ from the expectations of marketing, sales, finance, or the executive board. In this landscape, where diverse stakeholders hold varying interests, Professor Kappelmann at the University of Northern Texas and his research team investigated what a Chief Information Officer (CIO) might seek regarding portfolio performance.
The findings of Professor Kappelmann’s research revealed a high level of diversity. For a CIO alone, more than 32 distinct performance indicators are in use and influence their perspective on project portfolio performance. An intriguing point also emerged when the study extended its scope beyond the CIO. It became apparent that organisations in the United States prioritise assessing business value above all else, while their European counterparts emphasise cost management more. These regional disparities in prioritising performance metrics underscore the importance of tailoring project portfolio evaluations to meet each organisation’s unique demands and objectives.
But How Can You Meet So Many Different Requirements?
With Uffective, you get an insightful and customisable view of the metrics that matter most to your organisation. You gain access to a treasure trove of critical data essential for conducting transparent project portfolio analyses. It enables you to examine and analyse performance from various perspectives, ensuring that disparate teams or departments can access the specific performance metrics they require, all in a user-friendly and easily digestible format.
In this coming series, you will find out what modern risk management looks like. We will provide insight into how to manage the commercial performance of your projects, along with how budget management can be set up much more efficiently. We will also let you know how to monitor the agility of your organisation and how to benchmark on time and within budget.
The great news is: Your organisation already has all of this data, and we can now help you with leveraging it.