Structured Approval Process for Portfolios PPT

This PPT slide, part of the 23-slide Project Portfolio Management PowerPoint presentation, outlines a structured approach to project portfolio management, specifically focusing on the approval process. It is divided into 3 main steps, each detailing critical actions necessary for effective project oversight.

The first step, "Review and Adjust," emphasizes the importance of evaluating the current list of projects against established criteria. Here, project scores are reviewed, and adjustments are made as necessary. This step also involves reallocating resources to ensure that projects align with strategic priorities. The review culminates in an updated project list and portfolio overview, which serves as a foundation for informed decision-making.

The second step, "Approve Priorities and Funding," highlights the need for finalizing project priorities within the portfolio. This involves reaching a consensus on which projects take precedence and producing a prioritized project list. Additionally, it addresses budget allocation, ensuring that resources are directed to projects that are ready to proceed to the next phase, contingent on their progress.

The final step, "Communicate Outcomes," focuses on transparency and communication. It ensures that all stakeholders, including project sponsors and managers, are informed about which projects have received approval to commence or continue, and which may be suspended. This step also includes updating an online tracking tool to reflect the current status of projects, facilitating ongoing oversight and accountability.

Overall, the slide presents a clear framework for managing project portfolios, emphasizing the need for regular review, prioritization, and communication to drive successful project outcomes. This structured approach can significantly enhance decision-making and resource allocation within organizations.

This slide is part of the Project Portfolio Management PowerPoint presentation.

The fundamental objectives of PPM is the optimal resource mix and scheduling that best aligns operational and financial goals.

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