Member components of a portfolio have interrelated items similar to those associated with larger projects. The difference between portfolio and project management lies with the relatively decentralized nature of a portfolio. Unlike a project manager, portfolio managers don’t often receive highly detailed reports on the portfolio’s progress and the handoffs between individuals or workgroups performing each component’s activities. Instead, a portfolio manager receives high-level status information regarding the progress of each project, program, and process under his or her purview. Therefore, it is essential that the portfolio manager clearly understands and in most cases documents the key interrelationships between portfolio components, thereby; enabling the portfolio manager to better track the specific handoffs which may disrupt overall portfolio progress and diminish benefit realization.
Written By:
Nathan A. Ives MBA, PMP
Founder StrategyDriven
www.StrategyDriven.com
StrategyDriven is dedicated to providing executives and managers with
the planning and execution tools needed to create greater
organizational alignment and accountability for the achievement of
superior results. I'm confident our best practices, warning flags,
whitepapers, and models will help you improve your organization's
alignment and heighten its accountability. Please take a moment to
visit the StrategyDriven website today!
