Lack of a defined process for Project Portfolio Management.
Development of a Project Portfolio Management process.
Procept Associates Ltd. was hired by a large Canadian producer of a prime natural resource to assist in developing a defined process for project portfolio management. The process consisted of identifying potential portfolio “components” (which may be business cases, projects, programs, sub-portfolios), categorizing them (e.g., growth, compliance, risk reduction, efficiency, health and safety, sustaining), evaluating (using financial and subjective scoring methods), prioritizing, and looking at portfolio balance, in preparation for Executive Management authorizing funds.
The scope of the assignment was to assist in developing the Project Portfolio Management Process, by facilitating meetings, suggesting approaches, and by authoring portions of a resulting document. The client company reated its own process under Procept's guidance — the process was not “imposed” by an outside consultant. Procept’s work was consistent with The Standard for Portfolio Management, published by PMI in 2006.